FINANCE: Nordic property funds delivered a total return of 0.7% during Q2, according to the IPD Nordic Quarterly Property Fund Index. This compares with a total return of 0.5% in Q1.
The index consists of 11 contributing funds with a combined gross asset value of €4.6bn (£3.7bn) at an LTV of 43.5%.
Håvard Bjorå, head of Nordic client consultants, IPD, said, “It is encouraging to see fund performance continue to improve. Even though the aftermath of the credit crunch has been difficult for property funds, we have only recorded three quarters with negative returns since 2009, while 15 quarters have seen positive returns.”
sophia.furber@estatesgazette.com
