SEB to Liquidate $7.8 Billion Fund as Investors Seek Cash
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SEB Asset Management AG will liquidate its 6 billion-euro ($7.8 billion) ImmoInvest portfolio, the largest German property mutual fund to be dissolved after failing to meet investor withdrawals.
SEB ImmoInvest will be wound up within five years after investors asked for redemptions that exceeded its liquidity “considerably,” according to a statement today. The fund increased the cash portion of its assets to more than 30 percent by selling real estate.