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Publications

LA Forum publications provide a comprehensive overview of the end to end research and investment process across a range of asset classes.  Our aim is to help our members understand complex problems and plan efficiently.

Written and published for Local Authority officers, these thought provoking documents highlight investment issues, available options and trends in key areas of the UK's public sector pension scheme space.

Targeting investment officers, policy makers, industry specialists, and the pensions board in order to promote debate and understanding.  It is not intended for use directly in either market forecasting or for investment decision purposes, where specialist advice should be sought.

Please note: some of the media sources, publications or articles featured on LA Forum may require registration to gain access.

Interested parties should contact Mark Turnbull (Director: LA Forum) T: 01260 226610 E: mark@laforum.co.uk

LSH - Northern Powerhouse Office Market Report

It’s been a turbulent few months for the Government’s Northern Powerhouse initiative yet, for the region's office markets, 2016 has been something of a ‘Goldilocks year’ – not too hot and not too cold!

Date added: 24-10-2017

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LSH - Northern Powerhouse Office Market Report

CBRE - Asia Pacific Watch August 2017

The APAC lodging sector recorded strong growth momentum in 2016 and this has been sustained through 2017. In addition to continued appetite for key city hotels, investors have been expanding their focus to second-tier markets in search of higher yielding opportunities. 

Date added: 07-08-2017

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CBRE - Asia Pacific Watch August 2017

CBRE - Europe Watch August 2017

Recent sentiment data suggest that Continental Europe is currently enjoying its most robust and broad-based economic activity since 2007. Amidst the noise surrounding Brexit, rising populism and increasing global uncertainty, Continental Europe has quietly staged an economic comeback. 

Date added: 07-08-2017

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CBRE - Europe Watch August 2017

CBRE - Americas Watch August 2017

Seven months into the year as midyear data starts to roll in for property market fundamentals and capital markets, it is a good time to take stock. For forecasters like us, it is a chance to course correct. How close were we on what we thought 2017 was going to turn out to be? Do we need to re-think 2018? 

Date added: 07-08-2017

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CBRE - Americas Watch August 2017

CBRE - US Early Indicators Q1 2017

The U.S. Early Indicators report is a simple early warning system designed to alert us to changes in economic conditions, as well as property and debt markets. Through the final months of 2016, commercial real estate entered "fairly valued" territory relative to coporate debt, as corporate bond yields spiked. Private real estate returns continued to edge upwards, while listed sector returns were negative. Leading economic indicators point to continued moderate economic growth through early 2017. Spreads widened through the final months of the year, and given the steepness of the yield curve, the risk for a near-term recession remains low. Commercial and industrial lending continued to grow but at a significantly more modest pace relative to earlier in the cycle.

Date added: 07-08-2017

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CBRE - US Early Indicators Q1 2017

IREI - Global Real Estate Investment Managers Report 2016

This report captures data on 194 real estate investment managers around the globe. As a group, they control nearly $2.8 trillion of real estate assets. Also indicative of the jump in AUM, the top 10 largest managers, as a group, experienced a 12 percent increase from the previous year; the top 100 managers recorded a 14 percent increase.

Date added: 30-09-2016

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IREI - Global Real Estate Investment Managers Report 2016

M&G Real Estate Perspectives Brexit: implications for real estate

The outcome of the referendum held on 23 June, 2016 is for the UK to leave the European Union. It is now over to the government to start the withdrawal process and the negotiations regarding the UK’s future relationship with the EU and its other trading partners. Given this result, we outline our view on the likely impact on the real estate markets.

Date added: 06-07-2016

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M&G Real Estate Perspectives Brexit: implications for real estate

Transforming the sustainability of Europe’s building stock

The revision of two EU Directives that govern energy efficiency and the energy performance of buildings provides a vital opportunity to drive radical improvements in the energy efficiency performance of Europe’s existing building stock. Measures that target new builds should focus on implementing the current framework effectively. The principle of ‘continuous improvement’ should be used to drive the retrofitting and refurbishment of existing building stock through transforming energy performance certificates from a static into a dynamic tool. The EU should consider setting a binding goal to bring the entire European buildings sector to a nearly-zero energy standard by 2050. Energy performance certificates should be upgraded to a dynamic electronic format that records, and more frequently updates, both the design and operational performance of property and which becomes the foundation of an electronic building passport.

Date added: 06-07-2016

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Transforming the sustainability of Europe’s building stock

Bouwinvest - Nuances in Vacant Commercial Property

Summer is well on its way and that means we've already been hard at work over the past few months ensuring that this year's achievements are just as good as 2014 – and last year was especially rewarding for Bouwinvest.

Date added: 27-01-2016

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Bouwinvest - Nuances in Vacant Commercial Property

Bouwinvest - Attractive returns in an increasingly polarised retail market

Dutch retail real estate has generated strong returns over the past few decades. With average returns of more than 9%, retail investments have outperformed both residential and office real estate. In addition to its stable returns, retail real estate offers attractive risk premiums. This looks like a good moment for investors to enter the retail real estate market.

Date added: 27-01-2016

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Bouwinvest - Attractive returns in an increasingly polarised retail market

TH Real Estate - The Density Dividend: Solutions for growing and shrinking cities

This overview report focuses on urban change and addresses the different challenges involved in population growth and shrinkage, as well as how density might play a role in adapting and building strategies for future cycles.

Date added: 27-01-2016

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TH Real Estate - The Density Dividend: Solutions for growing and shrinking cities

TH Real Estate - The growth of emerging world cities and potential target markets for institutional investors

Global megatrends are reshaping the world economic order, with rapid economic growth in emerging countries leading to mass urbanisation in cities across Asia, Africa and South America.

Date added: 27-01-2016

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TH Real Estate - The growth of emerging world cities and potential target markets for institutional investors

TH Real Estate - Picking Tomorrows World Cities

In our latest research report, we advocate a city-level approach to real estate investment, in light of our longer-term research findings relating to global ‘megatrends’.

Date added: 27-01-2016

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TH Real Estate - Picking Tomorrows World Cities

Legg Mason - Another arrow in the quiver: Diversifying income with REITs

The scarcity of yield that continues to challenge investors has driven many toward new sources of income. Equity investments such as dividend-paying stocks and master limited partnerships1 have attracted significant inflows despite a generally tepid economic environment.

Date added: 11-12-2015

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Legg Mason - Another arrow in the quiver: Diversifying income with REITs

Cornerstone - U.S. Research Quarterly - Economic and Real Estate Update and Outlook - July 2015

Strengthening and Broadening Office Market Recovery Current Vacancy and Forecast 2 Year Change The U.S. economy continues to improve on both an absolute basis and relative to other economies globally. A broad set of indicators show economic activity reaccelerated in 2Q after being challenged by global events and weather over the winter months. Events overseas remain the primary threat to the extended expansion underway, and Fed policymakers are clearly hesitant to begin tightening monetary policy until labor market and inflation metrics support such a move. Recent events have added a bit of uncertainty but overall trends seem to suggest a measured round of tightening to begin late this year.

Date added: 25-11-2015

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Cornerstone - U.S. Research Quarterly - Economic and Real Estate Update and Outlook - July 2015

Cornerstone - European Research Quarterly - Sept 2015

Despite intense concerns about Greece and a China slowdown, Europe still managed to record positive growth in 2Q 2015 (up 0.4% q-o-q, matching 1Q). The EU Economic Sentiment Indicator (ESI) increased in July to 106.6, up from 105.5 the month before. This reading is consistent with near term GDP growth continuing at a similar pace.

Date added: 25-11-2015

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Cornerstone - European Research Quarterly - Sept 2015

Cornerstone - Global Listed Property Review - Oct 2015

Anticipation and uncertainty will remain in global financial markets, through at least the end of 2015. Anticipation, that the FOMC will raise the fed funds rate in December or in the first quarter of 2016, after holding back in September. Uncertainty, over global economic events including those in China, an important export partner with the U.S. and Europe.

Date added: 25-11-2015

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Cornerstone - Global Listed Property Review - Oct 2015

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