Press Release: Financial services: new expert group to advise Commission on open-ended real estate funds

The European Commission has decided to establish an expert group on open-ended real estate funds, which provide consumers with access to professionally managed investments in commercial and other types of property. The group will advise the Commission on how to improve the European market for these funds and on whether EU-level action in this area would deliver benefits for industry and investors. It will also explore cost-effective ways to achieve those benefits. Real estate fund specialists interested in becoming members of the group are invited to apply by 27 April 2007. The Commission will publish the final composition of the group before 30 May 2007. The creation of this group is a follow-up action to the Commission White Paper on enhancing the EU framework for investment funds (IP/06/1569).