Special situation: Liquidation of KANAM Grundinvest fund (ISIN DE0006791809)
Disclaimer: This is not investment advice. PLEASE DO YOUR OWN RESEARCH !!!
This investment is not an original idea, but rather a “me too” investment. Ben from Wertart has a very good write up from November last year, so I spare myself to go into too much historic description.
Just the short version: Kanam Grundinvest is one of several formerly open real estate funds in Germany which have been put into liquidation. The major difference to almost all other funds is that in the Kanam case investors actually didn’t lose any money over the lifetime of the fund as the real estate seems to have been relatively high quality. As of December 31st 2016, the fund has sold 95% of its real estate and is now effectively a cash box with some remaining real estate exposure.
So let’s focus on what has changed since Ben wrote his post: