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| New expert group to advise EU on open-ended real estate funds  The European Commission has decided to establish an expert group on open-ended real estate funds, which provide consumers with access to professionally managed investments in commercial and other types of property. The group will advise the Commission on how to improve the European market for these funds and on whether EU-level action in this area would deliver benefits for industry and investors. It will also explore cost-effective ways to achieve those benefits. Real estate fund specialists interested in becoming members of the group are invited to apply by 27 April 2007. The Commission will publish the final composition of the group before 30 May 2007.In order to contribute effectively to the detailed and technical issues for consideration in the group, members will need to possess relevant direct experience in developing solutions to the issues covered by the group mandate. Group members should be market practitioners, or investors/consumers with a demonstrable interest in the real estate fund markets. The group will comprise real estate fund experts with skills in: investment, management, distribution, valuation, administration and taxation. Observers from EU consumer associations and representatives from regulators will be invited to participate. The Commission will decide on the final composition of the group having regard to the qualifications and skills of the individuals, and the need to promote geographical and gender balance. Each selected applicant will be required to attend five meetings in Brussels. The group is scheduled to start work in June 2007. write your comments about the article :: © 2007 Construction News :: home page |