This value translates into an improvement in annual returns of 0.1% and 3.6% registered in December 2016 and September 2017, respectively. This confirms the recovery of the national real estate funds, registering its top performance since December 2008, said MSCI in a statement.
Close-end real estate investment funds (excluding FIIAH) recorded the highest returns, of 6.3%, followed by open funds with a total annual return of 3.4%. The close-end funds (FIAH) recorded a return of 1.4%.
The APFIPP / IPD® Index of Portuguese Real Estate Investment Funds includes 11 open and 30 close-end funds (including 5 FIIAH), with a total value of assets under management of €5.2 billion at the end of the 4th quarter of 2017.