German open-ended real estate funds have boosted their investment in foreign countries to 70.3% at end March 2009 from 68.6% a year earlier, according to figures from BVI Bundesverband Investment und Asset Management, the sector organisation for the German investment and asset management industry. The funds' home market Germany now accounts for 29.8% of the total compared to 31.4% in the year-earlier period.
German open-ended real estate funds have boosted their investment in foreign countries to 70.3% at end March 2009 from 68.6% a year earlier, according to figures from BVI Bundesverband Investment und Asset Management, the sector organisation for the German investment and asset management industry. The funds' home market Germany now accounts for 29.8% of the total compared to 31.4% in the year-earlier period.
Non-European countries benefited most from the increase, BVI said, in particular the US, Japan and Canada. The UK saw its share of German fund investment fall to 9.5% from 11.5% a year earlier.
In the past year, German open-ended real estate funds sold a total of 214 objects for a transaction volume of EUR 9.5 bn
