real estate funds

Open-ended real estate funds are coming under increased scrutiny. Higher interest rates compared to a few years back, and changes in the market such as demand for office space, are leading to devaluations and fund outflows.

The value of real estate fund UniImmo Wohnen ZBI has fallen dramatically. More transparency would have been desirable.

Following the interest rate turnaround and a decline in property prices, open real estate funds are under pressure. However, the holding periods introduced for investors in 2013 stabilize the investment products today. A mass exodus of investors, as seen during the financial crisis, is unlikely.