– Aberdeen, Akron, Axa and others launch funds – Most newly added vehicles are based in the UK or the Netherlands
In the quarter to January this year, INREV identified 14 funds coming to the market. These included Aberdeen Property Invetors’ €1bn continental European retail fund, Akron’s €500m central and Eastern Europe fund, Axa REIM’s €2.5bn Immosolutions fund and ING REIM’s Eurosis fund of funds.
New funds in the database were dominated by Netherlands and UK-domiciled vehicles. There is a mix of infinite and finite-life funds, with Germany and the UK having the most infinite-life funds. All Swiss funds in the database have an infinite life.
Since 1996, the strongest growth has come from value-added funds, which had total gross asset value of just over €55bn at the end of last year, compared with GAV of only €3bn in 1996.
Opportunity funds’ gross asset value has grown nearly as quickly as the value-added funds, while the GAV of the core funds only doubled in the same period. German open-ended funds’ GAV growth over the same period has been a comparatively sluggish 54%.
