JPMorgan Asset Management has introduced the first real estate fund of funds under Italian law. Fondo Immobiliare JPMorgan Global Real Assets, is a closed-end fund authorized by the Bank of Italy.
The real estate fund is restricted to professional investors and has an internal rate of return of 10-12%, and a target distribution of proceeds of 5% annually. The fund will invest in the traditional real estate sectors; the alternative including student housing, medical centres, hotels and parking areas; and infrastructure sectors, primarily in Europe and North America, with some Emerging European and Asian nations.
Source: Euromoney Institutional Investor
