Fidelity’s ‘nil-UK’ Eurozone property fund raises €111m

A Eurozone property fund offered by Fidelity International has raised €111 million in “just” 12 weeks.

The Fidelity Eurozone Select Real Estate Fund has received commitments from institutions across Europe including from France, Germany, Ireland and Switzerland.

The firm puts the success of the Eurozone property fund down partly to investors shunning UK property.

Investors expect to get a “high quality income from core Eurozone markets”, said the firm, which has £223.7 billion (€263.3 billion) of assets under management.

Property investing currently offers a 200-400 basis points premium to Eurozone government bonds, Fidelity said.

Neil Cable, head of real estate at Fidelity International, said:  “Fidelity’s focus on high quality income from institutional grade real estate in the core Eurozone markets has resonated with investors seeking alternatives sources of investment grade income.”

He added: “Post Brexit, investors have also seen the merits of a core Eurozone strategy with Fidelity’s fund being one of the very few core open-ended funds offering nil exposure to the UK and peripheral Europe.”

©2017 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST