Deka and Swiss Life AM cooperate on residential funds
Germany's Deka Immobilien plans to launch three new open-ended real estate funds for private investors, one of them in the residential segment. For this fund, Deka is cooperating with Swiss Life Asset Managers.
Frankfurt-based Deka Immobilien has announced that it will launch three new open-ended real estate funds - due to continued high demand from private investors.
With one of the funds, the real estate company intends to invest in the residential asset class for the first time. This fund will be launched and managed by Swiss Life Asset Managers, according to Deka. It is to be launched before the end of this year. According to the information, the focus of the mutual fund is on modern apartments in the medium rent level in European metropolises and conurbations.
The other two investment vehicles focus on real estate markets outside Europe: One fund is to invest in commercial real estate in metropolitan areas worldwide on a currency-hedged basis. The focus is on cities that are benefiting from increasing urbanization or globalization, such as New York, Toronto or Sydney, and locations that are considered particularly attractive for living and working, such as Amsterdam, Vancouver or San Francisco. The fund focuses on properties in the core sector and is to be launched at the beginning of next year.
The second international fund aims to invest in the Pacific-Asia region; it is aimed at experienced and high net worth individuals. The fund will be denominated in Australian dollars, Deka said. It is expected to launch in the second half of 2020. (ah)
