Protego exceeds €1.49 billion of property derivative transactions (UK)

Protego Real Estate Investors together with Barclays Capital, the investment banking subsidiary of Barclays Bank plc, announced today that they have now completed a transaction which brings the total volume of trades, arranged by Protego and Barclays Capital, to over £1 billion since the re-emergence of the market in 2005.

Protego and Barclays Capital have reported all of these trades to IPD, in detail, as required by their licence.

All transactions that Protego and Barclays Capital have arranged are client-backed transactions – either in the primary or secondary market. For the most part, these transactions have been in the form of Property Index Certificates ('PICs'), through the various existing maturities. The current range of maturity profiles includes 2006's, 2007's, 2008's and 2010's.

In total, Protego and Barclays Capital have traded with circa 35 institutional clients, which range from UK life insurance companies, UK and overseas pension funds, as well as the wealth management sector.

Peter de Haas, International Investment Director at Protego said "We are delighted to have passed this milestone and have made this announcement since we are strong supporters of moves to greater transparency in this fast evolving market place. We are now looking to expand from the All Property level in the UK to sub-sector contracts, as well as looking at other European markets".

Source: Protego

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