Italian real estate funds attracted a record EUR 1.7 bn of investments in the second half of 2006, Assogestioni, the Italian association of investment fund managers, said on Tuesday. 19 new funds, including seven hedge funds, were launched in the last six months of 2006, raising the number of real estate funds in the country from 59 to 78. Some 28 new funds were created last year, with a combined value of EUR 2.6 bn.
Italian real estate funds attracted a record EUR 1.7 bn of investments in the second half of 2006, Assogestioni, the Italian association of investment fund managers, said on Tuesday. 19 new funds, including seven hedge funds, were launched in the last six months of 2006, raising the number of real estate funds in the country from 59 to 78. Some 28 new funds were created last year, with a combined value of EUR 2.6 bn.
Assogestioni indicated that the sector has now reached a total value of EUR 15.6 bn. Investments in 2006 were mainly directed towards office properties, which accounted for about 58% of the total. The level of investments in the north-west of the country and abroad registered a sharp increase, reaching 41.2% and 3.1% respectively, Assogestioni said.