Investment funds go against the trend

opublikowano: 09-01-2008, 13:51

Warsaw (Puls Biznesu) - Real estates are supposed to get cheaper? That’s great. Investment funds will spend PLN 1bn (EUR 278m) in this sector.

Agnieszka Jachowicz who manages assets of Arka fund, goes shopping already. She will soon be followed by Wladyslaw Grabowski, Skarbiec CEO and Marcin Bednarek, BPH TFI head. All of them believe that real estates will bring good return on investment. That’s why they found special close-end fund specializing in the real estate market.
BZ WBK AIB TFI has just launched Arka Nieruchomosci 2 supposed to invest in real estate projects in Poland and Central and Eastern Europe. Skarbiec will soon open its fourth such fund.
“We are preparing yet another close-end fund investing in the real estates. You can still make money here but you need a slightly different attitude. That’s why the new fund will differ from the first one”, Marcin Bednarek said.
BZ WBK AIB TFI wants to rasie PLN 200-600m. Skarbiec wants to raise at least PLN 250m from institutional investors. BPH believes that PLN 100m is an absolute minimum, the fund may raise up to PLN 500m. These three funds only will spend about PLN 1bn in the real estate market in upcoming years. Similar funds are planned by Forum or Copernicus funds.
These decisions are against the nowadays trends. Stock indices dive. The reason is the crisis on the mortgage credit market in the USA. House and lots prices are expected to fall in Poland after giant increases in recent years. It is widely believed that one cannot make money in the real estates.
(PLN 1 = EUR 0.278)

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