Italy’s real estate funds post 4.2% increase in net inflows, Assogestioni
In Italy, real estate funds have attracted €1.4bn during the first semester of 2012, a 4.2% increase compared to the previous semester, according to data published by Italian asset management association Assogestioni.
Research on 185 funds in the country found that real estate assets reached €26bn at the end of June.
About 90% assets were allocated to property and only 10% to property rights.
More than half of investments were directed to office buildings, 16% to commercial property and 9% to residential property.
Most investments were completed in Northern Italy (45%) and Central Italy (33%) with an increase in investments directed abroad.
About two thirds of real estate funds included in the research relied on financial leverage to increase assets under management.