Business · Companies · 5 hrs ago
DWS limits redemptions at its Grundbesitz Europa property fund to 10%
DWS is limiting redemptions from its Grundbesitz Europa fund to a maximum of 10% of investors’ shares.
DWS, a subsidiary of Deutsche Bank, runs the open-ended property fund.
Investors will have limited access to their money while the restriction is in force.
The move comes as open-ended property funds face pressure: some providers suspended redemptions in the spring, and two funds later closed permanently.
DWS property division managing director Christian Bäcker said the measure could cause personal financial strain for investors.
The limit takes effect Tuesday and can last up to 12 months.
DWS will allow investors to withdraw at most 10% of their requested shares from its Grundbesitz Europa property fund.
The restriction takes effect on Tuesday and can last for up to 12 months.
Christian Bäcker, head of DWS’s property division, said the measure could cause personal burdens for investors.
The move comes as open-ended property funds face pressure, with some providers having suspended redemptions and two funds later closing permanently.
- Who
- DWS and investors in its Grundbesitz Europa property fund.
- What
- DWS is limiting redemptions to a maximum of 10% of requested shares.
- When
- The measure takes effect on Tuesday and can apply for up to 12 months.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Some providers of open-ended property funds temporarily suspended redemptions.
Two property funds closed permanently.
DWS’s restriction on redemptions from Grundbesitz Europa takes effect.
- Fund
- Grundbesitz Europa
- Redemption limit
- Maximum 10% of requested shares
- Duration
- Up to 12 months
- Company
- DWS, a Deutsche Bank subsidiary
3 sources
What people are saying
personal burdens for investors