Axa Will Close 2.5 Billion-Euro Immoselect Fund in Germany
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Axa Investment Managers, a unit of French insurer Axa SA, is closing its Axa Immoselect real-estate fund in Germany because of insufficient liquidity.
The fund’s liquidity level was about 10 percent, while the minimum required would have been about 30 percent, according to a statement on the website of Axa’s real-estate unit.