Article date: 3 August 2006
Hibernian Life & Pensions announced today, Thursday 3August, that since re-opening the Irish Property Fund has receivedvery strong investor support with over €10m received in thefirst four weeks.
John Donachie, product manager, Savings Investments and Funds,Hibernian Life & Pensions, said: “There continues to bestrong interest in Irish property although more investors arelooking at opportunities in fund based structures such as theHibernian Irish Property Fund, which offer the opportunity toinvest in a first-class portfolio of prime Irishproperties.”
The Hibernian Life & Pensions Irish Property Fund was re-openedon 6 July. This followed the investment by Hibernian in the AIBBankcentre property in Ballsbridge earlier this year. The IrishProperty Fund is managed by Hibernian Investment Managers (HIM) andhas returned 14.8% in the last 12 months and 18.7% pa in the threeyears to 30 June 2006. It is now valued at over €250m.
Other properties in the fund include: A-Wear, Grafton St, Dublin 2,HMV, Grafton Street, Dublin 2, Wallis, Patrick Street, Cork,Ormonde House, Earlsfort Centre, Dublin 2, Block 7, ClanwilliamCourt, Dublin 2, 2 Harbourmaster Place, IFSC, Dublin andKilcarberry Business Park, Co Dublin.
In addition to the Irish Property Fund, Hibernian Life &Pensions also offers a UK Commercial Property Fund and a EuropeanResidential Property Fund giving customers the opportunity toinvest across different property markets. Hibernian InvestmentManagers has €13bn of Irish residents assets under managementand is the top performing fund manager in the Irish market in 2006according to the recent Mercer survey.
Hibernian Life & Pensions is a subsidiary of Hibernian LifeHoldings, a joint venture company between Hibernian Group and AIBBank for the provision of life and pensions services inIreland.
Marie Therese Culligan, 01 617 8164,087 2367008, firstname.lastname@example.org
Notes to editors:
- Hibernian is Ireland’s largest composite insurer, rankedfirst for general insurance and top three for life and pensions.It is backed by the strength of Aviva plc its parent company andthe world’s fifth largest insurance group with lifeassurance operations in over 50 countries worldwide and fundsunder management of over €300 billion.
- Hibernian Life & Pensions reported 17% growth in Life newbusiness APE in 2005. It employs over 800 people in Ireland. Itsactivities include pensions and life assurance, managinginvestments, general insurance and personal financial services.Hibernian Life and Pensions aim is to provide an efficient andprofessional service through a range of channels such asindependent financial advisers, tied agents, financial institutionpartners, Hibernian branches and our website www.hibernian.ie.
- Hibernian news releases are also available on www.hibernian.ie