Investment in Property Funds Down 1.0% in July

August 23, 2021 – Ana Custódio

The amount invested in property investment funds fell to 7.9039 billion euros.

Assets under management in real estate investment funds (FII), special real estate investment funds (FEII) and real estate asset management funds (FUNGEPI) reached 10.6225 billion euros in July 2021, 159.7 million euros less (1.48%) than in June. The CMVM (Securities Market Commission) published the data in its monthly reports on real estate investment funds.

According to the analysis, the amount invested in property investment funds decreased 1.0% to 7.9039 billion euros. Funds in In FEIIs fell 3.07% to 2.3044 billion euros, while AUMS in FUNGEPIs dropped 0.8% to 414.2 million euros.

European Union countries were the destination for all of the investment made in real estate assets in July, with 48.3% of the portfolio of open-end FII and FEII being invested in real estate in the services sector. Investments by FUNGEPIs were mainly directed at the retail sector (46.2% of the total).

According to the CMVM, two special real estate investment funds managed by Interfundos, “Stone Capital – Fundo Especial de Investimento Imobiliário Fechado” and “Gestimo – Fundo Especial de Investimento Imobiliário Fechado”; and one real estate investment fund managed by GNB Real Estate, “Imoarruda – Fundo de Investimento Imobiliário Fechado”, were liquidated in July. Interfundos (11.8%), Square AM (11.8%) and Caixa Gestão de Ativos (9.1%) had the highest market shares.

Translation: Richard D K Turner

16