Francisco Da Cunha

6 January 2021 | Luxembourg investment fund community  

Partner and Real Estate Tax Leader at Deloitte, Co-Chair of the ALFI REIF Survey working group

Francisco Da Cunha comments on the 14th annual edition of the Association of the Luxembourg Fund Industry (ALFI) Real Estate Investment Funds Survey: "With the majority of REIFs investing in Europe and promoted by EU investors, the survey provides clear evidence that Luxembourg funds are the mainstream solution to set up and manage EU Real Estate investment strategies. The success, however, spans further into other geographical areas, which can be witnessed by the increase of REIFs that are investing in North America, for example.

The ALFI REIF Survey attempted to provide an initial outlook of the impact on the REIF industry arising from Covid-19. Whilst the results may seem promising (e.g. out of the whole 449 funds surveyed, only one fund temporarily suspended in 2020, 11 funds admitted to having had large redemptions in 2020, 11 funds surveyed indicated that redemptions were temporarily suspended and 4 funds activated deferred redemptions/gates) ALFI will keep monitoring the effects of this global crisis.”