Property Funds Lost €66.4 Million in AUMs in January

18 March 2021 – Ana Custódio

Assets under management (AUMs) held by Real Estate Investment Funds (FII), Special Real Estate Investment Funds (FEII), and Real Estate Asset Management Funds FUNGEPI fell in January.

According to data published by the CMVM – the Portuguese Securities Market Commission, the amount under management in Portuguese property investment funds stood at 10.7686 billion euros in January 2021, a fall of €66.4 million (-0.6%) compared to the previous month’s tally.

Real Estate Investment Funds (FII) total AUMs in January fell by 0.7% to 7.947 billion euros, while assets held in Special Real Estate Investment Funds (FEII) also dropped by 0.2% to €2.4043 billion. Finally, Real Estate Asset Management Funds (FUNGEPI) lost 417.4 million euros in assets, down by 1.1%.

According to the CMVM, “In the period under analysis, EU countries received the full amount of investments in real estate assets, with 47.1% of the portfolios of open-end FIIs and FEIIs invested in real estate for the services sector. Investments made by FUNGEPIs were mainly in retail (46.0% of the total).”

In the first month of the year, Interfundos (12.2%), Square AM (11.2%) and Caixa Gestão de Ativos (9.0%) had the highest market shares.

Translation: Richard D K Turner