Cross border real estate investment funds have a tricky job. After they’ve raised funds they have to make wise investments in a range of countries, and then keep track of these moves to ensure they remain viable if and when tax rules and regulations change. Solving these problems is Luxembourg’s specialty. There were 333 real estate investment funds (REIF) domiciled in Luxembourg at the end of June 2018. This figure has been broadly stable for three years, up from around 300 in 2014/15 but double the 2010 figure. There were fewer than 50 of these vehicles in 2005. These figures are in the annual survey of local REIFs recently published by the Association of the Luxembourg Fund Industry on 19 November. The overwhelming majority of the initiators of these funds came from Europe either the EU-28 (69%) or non-EU (19%). The Americas were responsible for 11% with Asia-Pacific and the Middle East the remaining 1%. Benelux initiators accounted for 95 funds, Germany 55, UK 33, with those from USA, France, Canada and Switzerland in the lower teens. As for the region invested into, 77% targeted European assets, 6.6% invest globally and 7.9% in the Asia-Pacific region. Strategies and investors In… Read full this story
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