German pension fund awards mandate to Austrian developer Signa. : Bayerische Versorgungskammer (BVK), the €72bn German pension fund manager, is to invest €1bn in Austrian real estate through local developer Signa. The mandate to develop a portfolio of residential and commercial property in Austria was awarded to Signa Financial Services through a tender process. Universal-Investment has created a fund for the mandate which will initially acquire four residential projects around Vienna from Signa’s development portfolio. Housing complex 5in22 in Donaustadt is expected to be transferred to the fund this month.