The number of German open-ended property funds (GOEFs) that are forced into liquidation is likely to increase in the wake of new financial regulations such as the Alternative Investment Fund Managers Directive (AIFM). Under the regulation, which is due to be implemented in January 2013, funds will be forced to increase liquidity and will also be supervised more strictly.
Legal & General Investment Management’s (LGIM’s) managed fund has acquired Tesco Yarrow Road Poole from clients of abrdn for £46.1 mln (€54 mln).
