Between 2020 and 2023, 57 funds will terminate bringing a total NAV of €12.4 billion back into the market, according to the INREV Funds Terminations Study 2020.
The majority of these funds, 21, are scheduled to terminate in 2020, accounting for a total NAV of €3.8 billion.
Key highlights:
- Liquidation remains the preferred route for those in the termination phase
- Of those funds with a single country strategy, vehicles targeting the UK represent the largest share with a total NAV of € 2.6 billion
- Funds in extension deliver a higher average total return compared with those in liquidation
- Current market circumstances and quality of the portfolio were ranked as the main issues affecting termination decisions
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Funds Termination Study 2020
Last updated on 01 Sep 2020
This study examines the options that fund managers consider as the termination date of their closed end funds approach.