THE global economy is undergoing tremendous changes. There is much to be made, with sound and well-calculated judgement; and much to be lost, if prudence is missing. About a year ago, the Employees' Provident Fund (EPF) issued a statement that it was going to invest about 1bil (RM4.88bil) in British real estate.
It appointed ING Real Estate Investment and Deutsche Bank's property investment arm, RREEF, to manage the investment, each getting 500mil to buy into the European property markets, focusing on the United Kingdom.