Launched in 1989, ODDO BHF Immobilier celebrates its 30-year anniversary
Paris, 14 November 2019
Amidst a backdrop of geopolitical changes and strong European real estate market mutations, ODDO BHF Immobilier has managed to deliver a 9.3%* annualized performance over the last 30 years. ODDO BHF Immobilier is a leading fund in the European listed real estate market and has one of the longest track record in this asset class. It has today €328m assets under management in the mutual fund and €604m overall in the strategy.
Compared to direct investments, the listed real estate market can provide to investors liquidity and diversification, therefore potentially improving the risk/return ratio of their whole portfolio.
The strategy, launched on the 14th September 1989, two months before the fall on the Berlin wall, was adapted and expanded in parallel with the European construction and the economic mutations the continent underwent as we transitioned from the 20th to the 21st century.
Following the arrival of Véronique Gomez in 2000, the investment strategy was expanded to the Eurozone. At that time Véronique also revamped the investment process to offer investors a liquid real estate fund that incorporates both a macro-economic and a fundamental approach.
Véronique Gomez says: “We are very proud of the stability of our management team, which has been able to expand our strategy and therefore our track record. Our long-standing strategy is so enduring because of our prudent and reactive approach that has enabled us to successfully thrive through the cycles. After 19 years at the head of the strategy I am glad to see that the momentum in terms of performance and assets under management is still solid.”
Véronique Gomez was joined by Pierre Toussain in 2011 as the investment universe was once again enlarged to allow the fund to invest up to 20% outside of the Eurozone.
Pierre Toussain: “Despite its long heritage the strategy has stayed relevant to European real estate trends. The expansion of both the investment universe and of our sector expertise has given us the leeway needed to generate potential outperformance on this asset class. We now have a product that can invest across Europe with a current overweight on alternative real estate such as logistics, student accommodation or elderly homes to potentially benefit from the secular trends impacting our societies.”
ODDO BHF AM is currently positive on European real estate. According to our analysis, the fundamentals are solid. And we recognize several bullish trends, such as the overall increase in rents and valuation combined with strong and competitive investment markets in Europe.
The current market environment stays challenging but ODDO BHF Immobilier has more than proved its durability.
*Past performance is not a reliable indication of future return and is no constant over time. Fund is exposed to a risk of capital loss. Data as of end of 30.08.2019.Source: ODDO BHF AM SAS
UN-PRI rating: Our A+ rating for "strategy & governance" and "equity" maintained.
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