German fund manager Kanam said on Thursday it is winding up its US-grundinvest fund in response to demands from a majority of unit holders in Germany's only dollar-denominated open-ended fund. Fund holders will be reimbursed to the tune of $250 mln (EUR 184 mln) before the end of the year after the fund sold 10 of its 17 properties in the space of seven months despite difficult market conditions in the north American market.
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