AXA Real Invest II has won the 2011 IPD European Property Investment Award for Outstanding Investment Real Estate Performance, having achieved 'the highest total return relative to the national sector benchmark, annualised over three years to December 2010 for a specialist fund in Germany'.

The fund is advised by AXA Real Estate Investment Managers, the leading real estate manager in Europe and second globally with EUR 39.9 bn of assets under management as of December 2010.

AXA Real Invest II has delivered a total return for its investors, which includes capital appreciation and distributions, of 5.7% on an annualized basis, averaged over three years, compared to the benchmark performance, as measured by IPD, of 2.3%.

Launched in 1999, the EUR 300 mln fund invests in office assets, predominately in Germany, which benefit from strong long-term income, derived from a high quality tenant base. It owns eight assets, seven of which are in Germany, in cities such as Hamburg, Berlin, Munich, Frankfurt and Cologne, and one in the Netherlands.

The strategy of the fund is to offer its investors stable earnings, combined with long-term capital appreciation, with a moderate use of leverage. Investors in the fund comprise a number of AXA Germany insurance companies.