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German real estate fund crisis continues as AXA extends fund closure

Posted on 16 November 2010

From Citywire.co.uk: The German property fund sector remains in turmoil following the announcement Axa Real Estate has extended the closure of its €2.7 billion property fund for another twelve months.
The Axa Immoselect property fund was due to reopen later this month after a challenging couple of years for the firm but it chose to extend the open-ended property fund’s closure due to ‘insufficient liquidity to comply with all the anticipated redemption requests.’………………………………………Full Article: Source

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