Germany set to reform open-ended property funds

The structure of Germany's open-ended property funds is set to change radically in the wake of a draft bill submitted by the German finance ministry to reform the investment act which currently regulates the criteria of this type of fund. Under the new legislation existing open-ended property funds will be given three years to implement the new regulations, while capital investment companies may launch funds in line with the new criteria from July 1, 2007.

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