The company, which has more than €100 billion of assets under management , currently has 49 per cent of its assets in so-called ESG funds, up from 17.6 per cent at the end of 2019. ILIM had about €35 billion of AUM when its parent, Irish Life Group, was bought by Canada-based Great-West Lifeco a decade ago.
Separately, Mr Burke said that ILIM, which has invested €380 million in apartments as they were being developed for the private rental sector in recent years, remains interested in this segment of the property, even as international money has moved away from it in the past year. The National Asset Management Agency said on Thursday it had abandoned plans to deliver 400 apartments before it is wound down in 2½ years’ time, as investment in PRS has fallen sharply amid a spike in interest rates in the past year.Savills said last month that there were only four investment deals in the Irish PRS sector in the first quarter, down from 13 for the same period in 2021.
However, Mr Burke said: “The demand out there for accommodation will ultimately continue to be a key driver for PRS. But the question of how fast money will return to the sector depends on how quickly we get certainty about where interest rates will end up.” The European Central Bank has increased its deposit rate from minus 0.5 per cent last July to 3.5 per cent as of last week. While ECB policymakers have signalled another increase is on next month, the path beyond that is unclear as euro zone inflation is continuing to run at three times the bank’s 2 per cent target.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IrishTimesBiz - 🏆 6. / 77 Read more »
Source: IrishTimes - 🏆 3. / 98 Read more »
Source: businessposthq - 🏆 8. / 71 Read more »
Source: businessposthq - 🏆 8. / 71 Read more »
Source: IrishTimesSport - 🏆 2. / 99 Read more »