German real estate and finance group WGF submitted a request on Monday to set up a new fund management KAG unit which will allow it to launch a wide range of special funds (spezialfonds) for institutional investors from next year. ‘We expect to get the approval from the German Federal Financial Supervisory Authority (Bafin) by the first quarter of 2011,' the group’s chairman Pino Sergio said in an interview with PropertyEU on the first day of the EXPO REAL fair in Munich.
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