Home / Publications / CMS Funds Market Study 2021 / Strategies
Table of contents
  1. Summary of study findings
  2. Sample Funds
  3. Interview with Anne Breen, Aberdeen Standard Investments
  4. Strategies
  5. Fund terms
  6. Interview with Edmund Craston, PATRIZIA
  7. Management fees
  8. Interview with Austin Mitchell, Nuveen
  9. Management fee step down rates
  10. Carried interest
  11. GP commitment
  12. Redemptions and limits on liquidity
  13. Interview with Matthias Reicherter, Golding Capital
  14. Governance
  15. Interview with Eric Byrne, UBS
  16. Predicted fund trends
  17. Glossary of terms
  18. CMS Funds Market Study 2021 - Webinar materials

Strategies

The real estate funds covered by the Sample Funds focused on a range of strategies with a majority in Europe.


Real Estate Strategies


Real Estate Sample Funds: Strategies


Our study indicates investors selling off what they perceived to be higher-risk investments and seeking to purchase perceived Covid winners (e.g. technology and distribution related assets). Accordingly, it is not surprising to see evidence of a heavier weighting towards core strategies in 2020.

Our survey reveals that ESG principles (environmental, social and governance) are becoming increasingly important. A result of increased demand for more sustainable investment approaches, investment managers are now “following the money” and making ESG products available to investors.

Fund managers will continue to be subjected to increasing regulation, for example, non-financial reporting requirements which include disclosing their ESG impact. This, when coupled with increasing investor demand, is likely to affect non-green companies’ ability to raise capital. We expect ESG will become a core investment theme going forward.

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