News
Launched in 1989, ODDO BHF Immobilier celebrates its 30-year anniversary
14 November 2019, Paris.
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
About ODDO BHF Asset Management
ODDO BHF AM is part of the independent Franco-German financial group ODDO BHF that was founded in 1849. ODDO BHF AM is an independent asset management leader in Europe. The asset management of the ODDO BHF Group comprises ODDO BHF AM GmbH in Germany, ODDO BHF AM SAS, ODDO BHF Private Equity SAS in France and ODDO BHF AM Lux in Luxembourg, which together manage assets totaling € 58.1 billion. ODDO BHF AM offers its institutional and wholesale clients a unique range of high-performance investment solutions in all main asset classes, i.e. European equities, quantitative strategies, fixed income, multi-asset solutions, private equity and private debt. On a combined basis, 60% of assets under management are from institutional clients and 40% from distribution partners. The teams operate from investment centers in Dusseldorf, Frankfurt, Paris and Luxembourg with additional locations in Milan, Geneva, Stockholm, Madrid, Hong Kong, Abu Dhabi and Zurich. ODDO BHF AM puts the long-term support of its clients at the heart of its priorities. Its independence allows its teams to be responsive, flexible and innovative in order to constantly find solutions tailored to the customers’ needs.
www.am.oddo-bhf.com
About ODDO BHF
ODDO BHF is an independent Franco-German financial services group, with a history stretching back over 170 years. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in Mittelstand companies. With 2,300 employees (1,300 in Germany and 1,000 in France and Tunisia), and more than 100 billion euros in assets under management, ODDO BHF operates in three main businesses, based on significant investment in market expertise: private wealth management, asset management and corporates and markets. The Group has a specific ownership structure as 60% of its capital is held by the Oddo family and 30% by employees. This “partnership” ethos guarantees the long-term involvement of its teams. In 2018, ODDO BHF generated net banking income of 591 million euros, and at 31 December 2018, the Group had over 866 million euros of shareholders' equity.
www.oddo-bhf.com
Contact presse
CITIGATE DEWE ROGERSON
Yoann Besse
+33 1 53 32 78 89
[email protected]
Our news
Equities remain unmatched over the long term
Three British economists—Paul Marsh and Mike Staunton of the London Business School, and Elroy Dimson from Cambridge University—have embarked on a meticulous endeavour: they have traced 35 stock markets around the world as far back as possible to test a core theoretical question of investment. Are equities truly superior to all other asset classes over the long term?
The moment of truth for public debt
Economic crises leave a legacy of high public debt. Expansion phases should be used as an opportunity by governments to reduce their debt and rebuild some headroom in their public finances. This is easier said than done. Let’s look at what happened after the last two major crises.
The end of the American dream?
We must confess that we have a strategic "bias" in favor of the US market. The past 15 years proves us quite right. Since the end of the 2007-2008 Financial Crisis, Europe has outperformed for only 27 months, or just over 2 years. This structural outperformance of the US vs. Europe is mainly explained by a more robust EPS dynamic in the US.