Amsterdam, 28th May 2010: IPD last night presented the 16 winners of its European Property Investment Awards, after the Gala Dinner reception at its annual European Conference. The Awards presented by financial journalist and author Jeroen Smit at Amsterdam's Okura Hotel recognise outperformance over a three year period to the end of 2009.
Market context
The last three years have been among the most turbulent in living memory for European commercial property markets. While the synchronised downturn of 2008 gave way last year, with seven European property markets delivering improved annual returns, nine markets still produced even deeper negative returns in 2009.
The underlying property fundamentals across European markets are weak. Achieving outperformance in falling markets is, arguably, a greater test for a fund manager than to do so in a benign environment. This year's winners have had the toughest threeyear market backdrop in the history of the IPD European Property Investment Awards. As such, this year's Awards are the most significant yet.
The Awards determined by IPD's standardised performance measurement procedures recognise independently verified investment performance by pension and life funds, pooled funds, property investment companies and other professionally managed real estate portfolios across Europe.
IPD Group Statement
To be eligible for the annual IPD European Property InvestmentAwards, all funds must be measured by IPD's Portfolio Analysis Service, which provides investors with an independent audit of returns against a relevant market or sector benchmark. The Awards identify consistently measured real estate investment performance across nine European countries, divided into two categories:
· Nine Balanced funds: Highest total return annualised over three years to
December 2009 and;
· Seven Specialist funds: Highest total return relative to the appropriate sector
benchmark annualised over three years to December 2009
AWARD CATEGORIES & WINNERS
France
BALANCED FUND: Highest total return annualised over 3 years to December 2009
WINNER: SCPI EUROFONCIERE 2
FUND MANAGER: UFG LFP
SPECIALIST FUND: Highest total return relative to the appropriate sector benchmark
annualised over 3 years to December 2009
WINNER: Mercialys
FUND MANAGER: Mercialys
Germany
BALANCED FUND: Highest total return annualised over 3 years to December 2009
WINNER: UniImmo: Europa
FUND MANAGER: Union Investment Real Estate GmbH
SPECIALIST FUND: Highest total return relative to the appropriate sector benchmark
annualised over 3 years to December 2009
WINNER: SEB ImmoPortfolio Target Return Fund
FUND MANAGER: SEB Investment GmbH
Ireland
BALANCED FUND: Highest total return annualised over 3 years to December 2009
WINNER: Bank of Ireland Exempt Property Unit Trust
FUND MANAGER: Bank of Ireland Asset Management
Italy
BALANCED FUND: Highest total return annualised over 3 years to December 2009
WINNER: Patrimonio Uno
FUND MANAGER: BNP Paribas REIM Sgr
SPECIALIST FUND: Highest total return relative to the appropriate sector benchmark
annualised over 3 years to December 2009
WINNER: Pirelli RE Office Fund Cloe
FUND MANAGER: Pirelli RE Sgr
The Netherlands
BALANCED FUND: Highest total return annualised over 3 years to December 2009
WINNER: Schiphol Real Estate
FUND MANAGER: Schiphol Real Estate
SPECIALIST FUND: Highest total return relative to the appropriate sector benchmark
annualised over 3 years to December 2009
WINNER: Stichting Bedrijfspensioenfonds voor de Landbouw
FUND MANAGER: Syntrus Achmea Vastgoed
Norway
BALANCED FUND: Highest total return annualised over 3 years to December 2009
WINNER: Storebrand Eiendom AS
FUND MANAGER: Storebrand Eiendom AS
Portugal
BALANCED FUND: Highest total return annualised over 3 years to December 2009
WINNER: Fundo de Investimento Imobiliário Fundimo
FUND MANAGER: Fundimo SGFII
SPECIALIST FUND: Highest total return relative to the appropriate sector benchmark
annualised over 3 years to December 2
