France's SCPI investment funds recorded EUR 123.5 mln in net inflows in the first six months of 2009, according to new figures published by industry bodies Aspim and IEIF (Institut de l'Epargne Immobilière et Foncière). The figure represents a drop of 76% compared to the EUR 513 mln reported in the same period a year before.
France's SCPI investment funds recorded EUR 123.5 mln in net inflows in the first six months of 2009, according to new figures published by industry bodies Aspim and IEIF (Institut de l'Epargne Immobilière et Foncière). The figure represents a drop of 76% compared to the EUR 513 mln reported in the same period a year before.
According to the organisations, the sharp decrease in fund raising in the first part of the year is mostly attributable to the retreat of institutional investors, while private investors continue to show interest in the vehicles.
The capitalisation of this type of French investment funds has grown by 2% since end-December 2008, reaching almost EUR 18 bn. In a statement, Aspim pointed out that the SCPI funds were active investors in the first half of 2009, carrying out about 10% of total investments in France.
