AFM cricitices unlisted property funds
The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) has issued a warning over unlisted property funds, which it says continue to mislead retail investors.
Funds in the sector are also poorly managed and are not providing sufficient investor invormation, according to DutchNews.nl.
AFM studied 46 property funds between 2009 – 2011, resulting in 67 regulatory actions, including the withdrawal of licences and filing reports with Dutch police.
AFM has called for funds in the sector to be placed under its direct supervision.