Euro boost for European pooled property funds

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EUROPE – The euro has had a positive impact on cross-border investing in European pooled property funds, according to IPD and ABN Amro.

“While several new national and global funds have been launched, the majority of new funds created since 1998 have been pan-European funds,” the two companies said.

“The single currency zone has brought about financial convergence, and combined with increasing real estate market transparency, is making it easier for investors to compare investment opportunities in different euro zone countries.

“Certainly for German funds, cross border investing has consistently added value in each of the last three years.”

The findings are contained in the new ABN Amro/IPD Directory of European Property Vehicles launched this week. It covers property worth 64 billion euros held in 85 vehicles investing in continental Europe and is the companion volume to the Directory of UK Property Vehicles that was published in June.

IPD and ABN Amro said the directory “shows the last five years have seen a surge in growth”. They said that 50 of the 85 vehicles covered were launched between. “One of their main attractions is that they offer investors access to specialist managers with expertise in a particular segment of the property market.”

It says that institutional investors, mostly pension funds, account for 39% of the vehicles’ investment value. Retail investors had a 31 billion-euro stake, or just under half the total value.

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