SEB has temporarily suspended the redemption of units in its SEB ImmoInvest fund. The move follows a significant rise in unit redemptions across all customer segments.
SEB has temporarily suspended the redemption of units in its SEB ImmoInvest fund. The move follows a significant rise in unit redemptions across all customer segments.
SEB said the redemptions had been sparked by 'extreme uncertainty' among investors following the publication last week of new rules governing open-ended real estate funds.
Last week KanAm also reclosed its Grundinvest open-ended property fund for redemptions for a three-month period following strong capital outflows last weekend in reaction to draft German investment laws which propose tighter notice and mininum holding periods for investors.
KanAm's Grundinvest fund (around EUR 4.8 bn) was one of the larger German open-ended funds to close for redemptions in October 2008, before reopening in July 2009.
