The €424bn Dutch asset manager APG and the €131bn Chinese asset management company E Fund Management have agreed to explore a long-term strategic alliance.In a joint statement, they said they wanted to use each other’s expertise “by exchanging information about pensions administration, asset management and ICT to increase mutual insight into various pension systems and supporting technologies”.The partners, who signed a letter of intent, said they also sought to enhance their access to local and global investment markets.Speaking to IPE, Eduard van Gelderen, CIO at APG, said his organisation was excited about the co-operation, “given that China, as the world’s second-largest economy, is continuously opening its market – both inbound and outbound”. Although he stressed that the co-operation would focus initially on knowledge-sharing, he made clear APG wanted to be prepared for increased access to the Chinese market.“Our co-operation with E Fund, as China’s largest asset manager and local partner, will help us to get the answers we need,” he said.Van Gelderen said APG would apply for a licence to invest in China and that it was already liaising with local supervisors.He noted that Chinese equity markets could be part of the MSCI World Index within a year and that APG’s investments in the country were likely to increase quickly as a result.APG has invested more than €5bn in Chinese equity through the Hong Kong-Shanghai Connect, logistics and infrastructure, through local partners and listed companies.It might also be involved in the establishment of a second-pillar pensions system in China, according to Van Gelderen.He said China was just beginning to develop a second-pillar system as part of a new five-year development plan, approved last year.“The Chinese see us as a sounding board and have shown great interest in our experiences with the Dutch pensions system,” he said.“They want to know much more about asset-liability management and long-term investments.”Van Gelderen said both players believed there were “many initiatives” they could take together.“Because E Fund has a strategic partnership with technology-driven internet firms – such as Alibaba and Tencent, for example – it could help to employ technology for investment, communications and robo advice, as well as machine learning,” he said. APG is Europe’s largest pensions manager and one of the largest fiduciary managers worldwide.In addition to two offices in the Netherlands, it also has a presence in Hong Kong and New York.Guangzhou-based E Fund provides a “full spectrum of services” and claims to be the leader in mutual funds, pension funds and segregated-account businesses in China.It also has offices in Beijing, Shanghai and Hong Kong, as well as other major cities across the country.
Rawcorp’s apartment project Bellevue at The Glades. Rawcorp’s apartment project Bellevue at The Glades.CONSTRUCTION on a Robina apartment project has been fast-tracked following strong sales over summer.Local builder and developer Rawcorp has decided to construct the two buildings that will make up Bellevue at The Glades simultaneously instead of in two different stages.Marketing Projects SEQ director Kyia Anderson said about five months has been shaved off the construction timeline for building two with the entire development tipped to be finished in September. Rawcorp’s apartment project Bellevue at The Glades. Rawcorp’s apartment project Bellevue at The Glades.“The rate of sales has exceeded expectations, enabling Rawcorp to bring forward the construction program for building two, which is uncommon,” she said.More from news02:37International architect Desmond Brooks selling luxury beach villa12 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“This is great news for people who have purchased in building one as they will not be moving into a construction site, and the activity on site has instilled confidence in prospective buyers.“Construction is full steam ahead with both the basement and ground floor car parks structurally complete and scaffolding now up to level two.“The whole program has been successful from site acquisition to sales and now construction.”Bellevue will include 58 apartments across two buildings, which will be connected at the podium level. Rawcorp’s apartment project Bellevue at The Glades.The development, which was designed by AG Architects, will have two to five apartments on each floor. They will range from 92sq m to 168sq m internally with 23 to 105sq m balconies overlooking the skyline, rolling fairways of the Greg Norman championship golf course or the hinterland.The development is more than 65 per cent sold within six months.“Baby Boomers, downsizing professionals and first home buyers have made up the majority of sales to date,” Ms Anderson said. “There’s an under-supply in Robina and simply nothing compares to Bellevue in terms of size and quality. “The apartments are also some of the most affordable new apartments on a square-metre rate on the Gold Coast, now selling from $449,000. “Coupled with low body corporate of $62 to $71 per week, Bellevue represents exceptional value for money.”Residents will have exclusive access to a pool, gym, sauna and barbecue area. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:46Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:46 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenChoosing an apartment to invest in01:47