The open-end property fund hausInvest europa, managed by Commerz Grundbesitz Group (CGG), received the 2007 Scope Award from the independent Scope rating agency. The fund successfully prevailed over two other nominees in the category 'Open-End Property Funds, Europe'.
The reason the Scope jury members gave for the decision was that the investment strategies defined by the fund had been consistently implemented, and that portfolio competence and financial market expertise had been cleverly integrated. Moreover, the jurors argued, hausInvest europa has demonstrated how to use modern portfolio control to launch a classic fund on a new and successful course toward the future.
Launched in 1972, the fund invests in high-yield commercial real estate in Europe's economic hot spots, and has a volume of approximately €9 billion. The fund's property portfolio, consisting to 83% of real estate outside Germany, is spread across a total of eleven countries.
The Scope Investment Awards are given annually in recognition of outstanding performances of companies and products in the investment industry. Last year, Commerz Grundbesitz-Investmentgesellschaft mbH (CGI), belonging to the same group, received an award as 'Best Management Company for Open-End Property Funds'.
Source: CGI
