| Total returns of European non-listed property funds dropped into negative in the second quarter, down 0.3% and reversing the positive 0.5% performance in 1Q12, says the funds association INREV. Most weakness came from fund exposure to southern Europe.
Multi-country fund performance slid to -1.1% from 0.4% in 1Q12, with capital growth turning even more negative, at -1%, and continental Europe back in negative territory at -0.4% after 0.5%. For single-country funds, Italy was the worst performer in 2Q12, with total returns of -0.4%, even though this was an uplift from -0.9% in first quarter...............................................Full Article: Source |