Portuguese property funds delivered a positive performance of 1.2% in 2011, according to the APFIPP/ IPD Portugal Property Fund Index just released.
The APFIPP/ IPD Portugal Property Funds Index is a consultative index based on a sample of 37 property funds with a combined total value of assets under management of 7.0 billion (Gross Asset Value) at the end of December 2011.
IPD have partnered with APFIPP to bring to the Portuguese market a property fund index which tracks the performance of open and closed-end funds to an internationally accepted methodology.
The property fund Index reports annual returns, released on a quarterly basis. The first results for the year 2011 show a positive performance for all funds, with an annual total return of 1.2%. The open ended property funds stand out with a positive performance of 2.1%, while closed ended funds recorded a negative total return of -1.2%. These results were expected given the current market context, mainly due to the fact that open ended funds are largely focused on investment in income properties, while closed ended funds tend to be more exposed to property developments.
The APFIPP/ IPD Portugal Property Fund Index is sponsored by the Associação Portuguesa de Fundos de Investimento, Pensões e Patrimónios (APFIPP) and PricewaterhouseCoopers and represents a high percentage of the market with a total of 37 funds; 12 open-ended funds valued at a Gross Asset Value of 4.7 billion and 25 closed ended funds valued at a Gross Asset Value of 2.3 billion as at the end of December 2011.
APFIPP and IPD would like to acknowledge the contribution made from the following professionals to the APFIPP/ IPD Index consultative group:
- Eng. António Pena do Amaral (F&C Investimentos)
- Dr. António Gil Machado (IPD Portugal)
- Arq. Adriano Callé Lucas (CPU Consultores)
- Eng. Frederico Arruda (Refundos SGFII)
- Dra. Inês Pinto (ISEG)
- Dr. Jorge Figueiredo (PwC - PricewaterhouseCoopers)
- Dr. Luís Carita (Banif Gestão Activos)
- Dr. Luís Francisco (IPD)
- Dr. Manuel Costa (BPI Gestão de Activos)
- Dr. Sérgio Brito (APFIPP).