G-REIT not a threat to open-ended funds

The introduction of the German REIT (Real Estate Investment Trust) in the course of 2007 will not lead to the demise of the open-ended fund. That is the opinion of Frank Pörschke, CEO of one of Germany's leading open-ended funds Commerz Grundbesitz-Investmentgesellschaft (CGI). 'There will be greater diversity of investment vehicles and we will also look at the possibilities for new products', he said in an interview with PropertyEU. 'But I don’t think there will be a revolution and that the huge mainstream of real estate funds will become REITs.'

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