Dawnay Day Treveria is seeking shareholders’ permission to buy back up to 14.99% of its shares. The Times

AIM-listed the German property fund said it is waiting for yields in German property to widen again by about one point, to about 6%, before it makes significant acquisitions.

Dawnay Day Treveria has already bought back 7.5% of its stock, which has fallen from €1.50 in the spring to less than €1 yesterday, and is trading at a discount to net asset value.

The group, which is chaired by former chief executive of Land Securities Ian Henderson, said assets reached €2.09bn at 30 June. This is short of its earlier target of €3.6bn (£2.5bn).