Aberdeen Asset Management is closing its €1.5 billion Degi International open-ended real estate fund, Financial Times reports. The company will terminate the German fund by Oct.15, 2014, making payments at six-monthly intervals starting in April 2012, with all investors securing equal per-unit shares of their investment.
The process will be repeated at six-monthly intervals over the three-year liquidation period. The loans will also be repaid as the fund is liquidated, adds Property Investor Europe. Aberdeen Asset Management is a global investment management group. It had bought the German property investment business Degi in December 2007.
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