TKP Pensioen Real Estate Fonds (TREF) announced on Tuesday that it has become the largest European fund-of-funds by achieving over EUR 1 bn of invested capital. A combination of 39 funds and joint ventures the fund covers a wide range of sectors and countries. Last year investments in Central and Eastern Europe as well as Scandinavia have become part of the portfolio. The fund's targeted return rate ranges from 8%-10%, with the annual return since the fund's inception in 2000 averaging 9.7%. In 2007 the return was 12.8%.
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