Starting in 2003, STB Research Institute Co., Ltd. has conducted the "Survey on Privately Placed Real Estate Funds" as part of its research activities concerning real estate investment markets. Based on the results of this survey, hearings and published information, we estimated the market size of privately placed real estate funds (on invested asset basis) as of the end of December 2009 to be 13.9 trillion yen.
[ released March 5, 2010 ]
As of the end of December 2009, it is estimated the size of this particular market (invested assets basis) was 13.9 trillion yen. Assets under management decreased 197 billion yen or 1.4% in six months from 14.1 trillion yen in the previous survey as at the end of June 2009. Assets under management (“AUM”) fell at many investment managers, reflecting falls in the value of the properties they manage, while some managers seem to have increased AUM by launching new funds and acquiring of properties. As a result, the market size for privately placed real estate funds shrank only slightly in the past six months.
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