The man from the Pru

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Paul McNamara, head of research at Prudential Property Investment Managers (PruPIM) and currently chairman of the Investment Property Forum, an industry body that subsumed the Property Derivatives Users Association in 2004, is a fierce proponent of the benefits derivatives could bring to the industry. And he believes the admissibility of property derivatives for solvency calculations at life funds – which own 40–45% of UK commercial property – combined with changes to the UK tax treatment of

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