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Raiffeisen real-estate fund enlarged

Raiffeisen Fund Management Zrt added approximately 7,000 square meters of office space plus the adjoining car parks to the portfolio of Raiffeisen Real Estate Fund in November, the company announced.

As a result, property investments now account for 35% of the fund’s total assets, up from the previous 33%. At the same time, the value of the entire portfolio declined from Ft 124 billion to Ft 123 billion due to currency rate fluctuations, a major factor in the assessment of real estate holdings as rates for office space are typically concluded in euros, according to a company newsletter. Raiffeisen is expecting this trend to continue in the coming months. (Napi Gazdaság)