Real estate funds increase value under management to 9.5 billion in March

The net amount rose by 2.8% over the same month last year. On the other hand, the value of the real estate managed decreased, according to APFIPP data.

The total net amount managed by Real Estate Investment Funds reached 9.491 billion euros in March. The amount represents an increase of 0.2% in relation to February and 2.8% in relation to the same month last year, according to the monthly report of the Portuguese Association of Investment Funds, Pensions and Assets (APFIPP).

The company with the largest volume of assets under management was Interfundos, with 1,538.4 million euros and a market share of 16.2%. The second place belonged to GNB - SGFII (1,392.7 million euros or 14.7% of the total) and the third to Fundger (983.7 million euros or 10.4%).

Despite the increase in net value, the value of the real estate assets held by these funds decreased by 0.04% in relation to the previous month and 0.8% in relation to March 2017. The total was set at 10,003.8 million euros.

In terms of real estate assets under management, the podium remains. The market leader is Interfundos with EUR 1 631.2 million, followed by GNB - SGFII with EUR 1 345.1 million and Fundger with EUR 1 110.8 million.

The average profitability of the APFIPP Real Estate Index for the 12 months leading up to March 31 was 3.31%, with open funds offering a return of 3.81% and closed rates of 1.81%. Though, three years ago, the average return on the index was -0.58%, with open funds registering a loss of 0.56% and closed 0.65%.