Predss Release: Financial services: industry report recommends new EU retail product framework for real estate funds

On 13 March, 2008, the European Commission published an industry report analysing the EU market for open-ended real estate funds, which provide investors with access to professionally managed investments in commercial and other types of property. The report and stakeholders' reactions to it will contribute significantly to the policy debate on whether regulatory barriers need to be removed to facilitate development of a cross-border EU market for open ended real estate funds. In particular, it constitutes an important input to the forthcoming Communication on non-harmonised investment funds, scheduled for publication in autumn 2008. The report, which does not necessarily represent the views of the Commission, will be publicly debated at an open hearing in Brussels on 8 April 2008 and was prepared by the expert group on open-ended real estate funds (see IP/07/836). This group was announced in the Commission's White Paper on the enhancement of the EU framework for investment funds (see IP/06/1569).

European Commission: MEMO/08/161: Report on open-ended real estate funds: Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/08/161&format=HTML&aged=0&language=EN&guiLanguage=en

---