All Europe articles – Page 2
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White papersGermany’s historic step to raise spending
“A realisation in Europe on the need to spend more on defence and infrastructure has created a positive sentiment, leading to the recent upside in the markets.”
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White papersGerman fiscal expansion – Whatever it takes!
On 4 March, Friedrich Merz, Germany’s chancellor-in-waiting, proposed a constitutional amendment that would pave the way for an extensive programme to boost defence spending and overhaul German infrastructure. By employing, in English, the phrase “whatever-it-takes”, Merz made sure there was no doubt about the scale of his intentions.
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White papersGermany’s Game-Changing Election
The country’s politics are getting a boost of uncharacteristic urgency from coming Chancellor Friedrich Merz, with even the constitutional “debt brake” up for grabs.
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Asset Manager NewsIPUT Real Estate announces a €230 million commitment for its sustainable Logistics Sub Fund at Nexus Logistics Park
IPUT Real Estate (“IPUT’), Dublin’s leading property investment company, has launched a new logistics sub-fund, the “IPUT Nexus Logistics Fund” raising €115 million in new capital to develop the first 1.5 million sq. ft. of Nexus Logistics Park (“Nexus”). The IPUT Nexus Logistics Fund will operate as a sub-fund within IPUT Real Estate and is classified as an SFDR Article 9 fund, ranking it among the most sustainable real estate funds in Europe.
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White papersMarch ECB meeting: Data dependence in a world of uncertainty
As expected, the European Central Bank (ECB) cut its policy rates today for the sixth time in this cycle, marking its fifth straight cut. The interest rate on the main refinancing operations, the marginal lending facility, and the deposit facility were each lowered by 25 basis points to 2.65%, 2.90%, and 2.50%, respectively.
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White papersDoes Tax Deductibility Increase Retirement Saving? Lessons from a French Natural Experiment
This paper presents new evidence on how employees respond to tax incentives for retirement saving. Using administrative data from a large retirement plan administrator in France, we examine the voluntary saving choices of approximately 1.4 million workers before and after the implementation of the 2019 Loi Pacte, a reform that introduced tax-deductible voluntary contributions into employer-sponsored retirement plans.
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White papersListed Real Estate and Cost of Debt: Prudent Optimism
In recent months, most central banks across Europe have shifted from a hawkish stance to a more accommodative monetary policy, marking the beginning of an interest rate-cutting cycle. In the Eurozone, after an intense period of rate hikes in 2022 and 2023, the ECB implemented four 25-basis-point cuts in 2024.
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WebinarGerman Election Results: Shaping Europe’s Future?
Thank you for attending our call “German Election Results: Shaping Europe’s Future?” with Anna Rosenberg, Head of Geopolitics at Amundi Investment Institute; Thomas Kruse, CIO Amundi Germany; and esteemed guest, Günther H. Oettinger, Former European Commissioner and Member of the Supervisory Board at Amundi Germany.
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White papersTo maximise the new cycle, investors should target modern logistics
2024 was a transitional year for European logistics, with capital markets showing early signs of recovery, while the occupational market remained relatively sluggish. With demand conditions stabilizing, we believe 2025 is an inflection year offering a potentially compelling entry point into a new cycle.
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White papersDeA Capital Real Estate: Demographics are destiny
DeA Capital Real Estate works with selected third-party institutional investors across Europe, with a total AuM of E13.5bn. Emanuele Caniggia and Emanuele Dubini, CEO and CIO respectively of DeA Capital Real Estate, explain why their international platform is driven by demographics and macroeconomics.
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White papersThe golden years for European senior housing
Europe’s most frequently discussed demographic shift is its fast-ageing population. The European population is forecast to continue getting older, shifting the demographic framework in Europe to an unprecedented extent. In turn, the senior housing sector is expected to experience a significant surge in demand over the next decade, driven by the unprecedented acceleration of the 75+ population whilst the rest of the population is already in decline.
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White papersTurning Europe’s real estate complexity into an investment opportunity
The volatility of the past few years has created a new investment dynamic and operating environment. With shorter real estate investment cycles and valuations in some markets seemingly bottoming out, well-positioned investors should benefit from a different, flexible approach as a means to find pockets of growth. Annette Kröger, CEO Europe, PIMCO Prime Real Estate, reflects on why the current investment window needs a change of mindset.
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White papersPractical Thought About Southern Europe PBSA
Taking inspiration from the late Charlie Munger’s problem solving frameworks, we will apply some of his mental models to a relatively simple question: Where should long-term investors look to allocate capital in European real estate today? The short answer would be to look to provide capital to the sectors in most need (those with the greatest demand/supply imbalance), at the most attractive price point, which would subsequently reward investors with the most stable and growing cashflows over a long period of time. Through this lens, the PBSA market in Southern Europe looks to be a leading contender.
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White papersGerman Elections: Winds of Change
Germany is entering a pivotal moment in its political and economic landscape. With stagnating economic growth and pressing geopolitical challenges, the direction of its next government under Friedrich Merz is significant not only for the nation but also for Europe’s future economic and security prospects. The outcome of the weekend elections mean that a partnership between the CDU/CSU and former Chancellor Olaf Scholz’s centre-left SPD appears highly probable, with both parties aligning on key priorities like promoting more business-friendly policies.
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White papersThe European appeal
The European equity market has been in the spotlight so far this year, outperforming major global markets, driven by strong performances in the financial sector and more recently in the tech and industrial sectors.
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White papersForming coalition will be easiest of next German Chancellor’s many challenges
The centre-right Christian Democratic Union (CDU) and its sister party, the Christian Socialist Union (CSU), won the German election with 28.6% of the popular vote. CDU leader Friedrich Merz is therefore set to be the next Chancellor and will lead coalition talks to form a government at a time when Europe’s biggest economy faces economic, trade and geopolitical challenges.
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White papersThe new world of private credit investing
The new European Long-Term Investment Funds Regulation (ELTIF 2.0) has created opportunities to invest in private assets through open-ended funds. Stephane Blanchoz discusses this innovative regulation and the additional investment opportunities it brings.
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White papersEuropean Real Estate: Can the U.K. Continue to Lead the Recovery
The U.K. led the rest of the world’s property markets in 2024—but now faces higher U.S.-style interest rates, and a much cooler Eurozone-style growth climate.
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Asset Manager NewsGARBE PYRAMID-MAP: Slowing Growth of Prime Rents on European Logistics Real Estate Markets
The cycle of soaring rent rates in Europe’s top logistics markets has ended. During the second half of 2024, the average prime rent increased by just 6 cents, rising from 7.30 euros to 7.36 euros per square metre. It is the equivalent of 0.9 percent and thus trails the inflation rate in the eurozone, which was 2.4 percent at the last count. The 2024 take-up in Europe, while representing a modest year-on-year decline (-7 percent), actually exceeds the pre-pandemic figures by a narrow margin. The vacancy rate across Europe was just under six percent.
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White papersEuropean Small Caps: Three Catalysts for Change
From changing interest rate expectations to potential political resolutions, there are reasons to believe that European smaller companies may be at a turning point. European equities have begun 2025 on a strong footing, outpacing both U.S. and broader developed markets this year. While this outperformance in part reflects both the recent decline in U.S. technology companies and a partial clawback of European equity indices’ relative underperformance since 2022, immediate concerns over trade tariffs have diminished.
