(To read more on the debt and equity markets, click here.)
CANNES-The German open-ended fund market is alive and well,thank you. Despite the year-end freeze on three funds, the marketis moving forward, according to Dr. Karl-Joseph Hermanns-Engel,managing director of AXA Real Estate IM in Frankfurt. One primeexample of that is AXA's own plans to launch a new major fund incoming weeks.
He noted that there were actually two results of the crisis--thefirst time in the sector's 35-year history that funds were frozen.The first was one of "irrational behavior," he says, as investorspulled their claws in and some 7.2 billion euros in capital werelost to the sector. From AXA's own 1.6-billion-euro total, some 300million euros of capital went south, he added.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
