DEGI, Deutsche Gesellschaft für Immobilienfonds mbH, had by 30 November 2005 collected new monies totalling 178.3 million euros for its open real estate funds. DEGI INTERNATIONAL, which invests outside Germany, and the recently launched DEGI GLOBAL BUSINESS fund, reported net inflows amounting to €413.8 million and €36 million. During the same period, the GRUNDWERT-FOND reports net outflows of €271.5 million. DEGI is satisfied with its sales performance compared to the results being achieved in the sector as a whole, and attributes its good results to its integration into the sales structure of Allianz Dresdner Global Investors, since all sales channels achieved a net inflow of funds in 2005. Proactive portfolio management is being accorded ever-greater importance, which is why since the beginning of this year DEGI has carried out 13 transactions worth a total of around €700 million. Six properties were purchased, and eight sold, some of them significantly above their valuation.
The GRUNDWERT-FONDS had maintained a stable performance at the end of the 2004/2005 business year, as per 30 September, with 2.0 per cent p.a. compared with the preceding year's 2.1 per cent, thus achieving above-average performance compared to other open real estate funds focused on German properties. As of 30 November, performance is running at 2.1 per cent p.a. The dividend for the 2004/2005 business year is 2.50 euros per share, and will be paid out on 2 January 2006. Of this amount, €1.2375 (49.5 %) in private assets and €1.2848 (51.4 %) in
business assets are tax-free. The GRUNDWERT-FONDS won the 2005 Scope Award in September as the best fund in the "Open real estate funds with Germany as the target market" category, since in the independent jury's view the fund has been "purposefully refocused", and "investors thus have an opportunity to invest into an attractive German real estate portfolio."
"The GRUNDWERT-FONDS is correctly positioned as a European product focused on Germany, a claim tellingly substantiated by the fund's current leasing successes", says Bärbel Schomberg, Chairperson of DEGI's board. The GRUNDWERT-FONDS' total leasing performance during the last business year, with a similar total area provided by the property portfolio, rose by about 40 per cent, to reach 128,900 m². In November 2005, DEGI successfully negotiated a follow-up tenancy for around 56,000 m² with the European Central Bank. Purposeful refocusing of this fund, she adds, continues to be necessary for offering a contemporary, stability-driven real estate product. "Stability for investors can be achieved only by continual change driven by proactive portfolio management", says Schomberg. DEGI has accordingly streamlined its real estate holdings still further, and by purchasing an in-progress project in Rome has initiated expansion of the European content in its real estate portfolio.
DEGI INTERNATIONAL, which invests outside Germany, diversified its real estate portfolio still further during 2005: it bought five properties, located in Brussels, Lisbon, Rome and Seoul its first property in Asia. Another purchase in Lisbon is about to be finalised. The fund's management also utilised the favourable demand situation for some profit-taking by selling a property in Paris. For the upcoming year, investments are being planned in countries both inside and outside Europe, particularly in North America, South Korea and Japan. The fund's performance, at 4.2 % p.a. as of 30 November, improved on 2004's figure of 4.0 %, despite a high level of liquid assets. The fund's total assets passed through the billion barrier during the course of this year, and on 30 November came to €1.29 billion.
DEGI is purposefully reaching out to new customer groupings