TAILIEUCHUNG - Have property funds performed? A ULI Europe Policy & Practice Committee report

Since the mid 1990s there has been a significant growth in the aggregate size and number of global property funds, largely fuelled by the investment of significant capital from institutional investors. This falls into two broad types: the 'core' universe and the 'opportunity' universe. This growth has seen fund managers launching new funds and raising more capital at a time when many have been unable to show clear evidence that their funds have provided historic out-performance against market benchmarks or performance objectives. Despite the lack of transparency/clarity as to how well funds perform compared to their peer group and/or the direct market, many fund management houses have. | Have property funds performed A ULI Europe Policy Practice Committee report February 2011 Authors Professor Andrew Baum Academic Fellow ULI Europe Jane Fear Manager Feri Property Funds Research Nick Colley Senior Analyst Feri Property Funds Research Editors Alexandra Notay Vice President of Strategic Programmes ULI Louise Evans Research Assistant ULI ULI Urban Land Institute AREA PROPERTY PARTNERS About ULI ULI - the Urban Land Institute - is a non-profit research and education organisation supported by its members. Founded in Chicago in 1936 the institute now has over 30 000 members in 95 countries worldwide representing the entire spectrum of land use and real estate development disciplines and working in private enterprise and public service. In Europe we have over 2 000 members supported by a regional office in London and a small team in Frankfurt. ULI brings together leaders with a common commitment to improving professional standards seeking the best use of land and following excellent practices. We are a think tank providing advice and best practices in a neutral setting - valuable for practical learning involving public officials and engaging urban leaders who may not have a real estate background. By engaging experts from various disciplines we can arrive at advanced answers to problems which would be difficult to achieve independently. ULI shares knowledge through discussion forums research publications and electronic media. All these activities are aimed at providing information that is practical down to earth and useful so that on-the-ground changes can be made. By building and sustaining a diverse network of local experts we are able to address the current and future challenges facing Europe s cities. To download a calendar of ULI events and activities for 2011 please visit europe AREA PROPERTY PARTNERS AREA Property Partners AREA formerly Apollo Real Estate Advisors is an international real estate fund manager which has .

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