CS Euroreal, the open-ended fund, will reopen for redemptions from 30 June after suspending them last year.
The fund manager, Credit Suisse Asset Management, said that it had seen €420m of inflows since redemptions were suspended, showing renewed investor confidence – the largest inflow seen by any of the suspended open-ended real estate funds.
Karl-Heinz Heuss, managing director, said: ‘Our success at raising liquidity and the support from the majority of our clients who retained their investments in CS Euroreal make it possible for us to reopen the fund to the redemption of units.’
The fund, which has €6.8bn assets under management, has liquidity of €1.1bn – around 16% of its assets – and gross liquidity of €1.7bn – around 24% of its assets. It has a strong capital base built up since October 2008, partly through investors buying new units but also due to steady rental income and the sale of a property in Belgium.
It also said it was negotiating credit with several banks to take advantage of strong buying opportunities.