Credit Suisse Fund Lost 22% for Investors Amid Global Real Estate Shock
- Fund says it was hit by decline in global real estate markets
- Rising interest rates have delivered blow to asset class
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Credit Suisse’s flagship real estate fund incurred deep losses for its investors last year as it got buffeted by the crisis in global real estate markets.
The Credit Suisse Real Estate Fund International lost 22% on investments in 2023 because it was “unable to escape the developments on the global property markets,” according to a statement on Wednesday. The market value of its properties fell by 31% to 2.52 billion Swiss francs ($2.83 billion) as a result of devaluations and sales, it said.