Yesterday, 22 September 2008, IPD and EuroProperty presented 18 funds with awards for outstanding investment performance against their peers at the IPD EuroProperty Investment Awards. The awards were presented over dinner following the Estates Gazette Investment Summit at the Balmoral hotel in Edinburgh.
During the course of the day delegates and winners discussed global market trends in the context of the escalating financial crisis, with a special session led by Ian Cullen on the key drivers of success and failure in major European real estate markets.
The IPD EuroProperty awards recognize demonstrated investment performance by pension and life funds, pooled funds, and property investment companies in Europe.
The awards are determined by IPD, using data held in its extensive databanks across a number of European countries. Eleven countries participated in the Awards in 2008, the participating countries were Austria, France, Germany, Italy, Ireland, the Netherlands, Norway, Portugal, Spain, Switzerland and the UK.
The awards were split into two categories; 10 awards were presented to the Balanced funds with the highest 3-year annualized total return to December 2007 in each national market, and 9 awards to the Specialist funds with the highest total return relative to the appropriate sector benchmark annualized over 3 years to December 2007 in each national market.
Below is a full list of the winners for the 2008 Awards:
Balanced Fund: Highest total return annualized over 3 years to December 2007
Austria - IG Immobilien Management GmbH