Germany's open-ended property funds registered average outflows of just over EUR 400 mln in July, according to new figures from fund industry body BVI.
Germany's open-ended property funds registered average outflows of just over EUR 400 mln in July, according to new figures from fund industry body BVI.
However, strong inflows over the first six months of 2009 as investors rushed back into the funds on hopes of recovery in European property markets bring net inflows over the first seven months to EUR 2.7 bn. Net new investment in the funds in the first half amounted to EUR 3.1 bn.
The majority of the open-ended funds imposed a temporary freeze on redemptions in October 2008 after investors pulled out en masse in the wake of the credit crisis. Most of these funds have since re-opened and are flush with cash following the return of investment.
Click on the link below to read: AXA Immoselect reopens following redemption ban
