09 Dec 2011
First survey of its kind to be carried out in Luxembourg.
Luxembourg, 9 December 2011 – Ernst & Young has today released the results of its real estate funds cost survey, the first survey of its kind to be done in Luxembourg.The key findings of the survey were presented at the Ernst & Young offices in Munsbach,Luxembourg, before an audience of 20 key players in the real estate industry. Zeeshan Ahmed,Senior Manager, and Farhan Ahmed, Senior Manager, are both part of the real estate funds practice of Ernst & Young Luxembourg, supervised by Michael Hornsby, EMEIA Real Estate Funds Leader.
Organiser/Source: Caroline Dupuy
Luxembourg as a leading domicile
Luxembourg is a leading domicile for real estate funds operating in Europe with 212 regulated real estate fund units. This success derives from a fine balance between the operational and structural flexibility that the Grand Duchy has, combining a major financial center, political stability, the authorities’ proactive attitude to attracting foreign capital and investment, a practical tax regime, and pragmatic regulation, not to mention the experienced professionals focused in this sector.
With the current challenging global economic environment initiated by the financial crisis in 2008 came the drive towards rebuilding investor confidence through more transparency, better reporting, and enhanced risk management and governance structures. Furthermore, with the development and integration of industry guidelines, such as those from INREV, the evolution of the real estate fund industry continues.
Through the Ernst & Young real estate fund cost survey Ernst & Young collected and analyzed high level fund cost data covering regulated real estate investment structures domiciled in Luxembourg. The survey covers approximately 47% of net assets under management in Luxembourg real estate funds, a good sample for the first survey of its kind. Industrial cost ratios of regulated real estate funds have been analyzed, in terms of investment strategy, investing sector, lifecycle of the vehicle, location of assets and operating platform.
For further information on the survey and findings see the attached press release or contact firstname.lastname@example.org or zeeshan.ahmed.@lu.ey.com.
Ernst & Young
Tel: +352 42 124 7552
Download Document: E & Y funds cost survey.pdf