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Advisory relationship between consultant lmg emerge and rem

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LMG signed an advisory agreement with Hungarian Real Estate specialist REM International. …

LMG signed an advisory agreement with Hungarian Real Estate specialist REM International.

REM specializes in Eastern European and Turkish direct property investments, including development and management.

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  • 1. Advisory Relationship between consultant LMG Emerge and Eastern European/Turkish Real Estate Specialist REM International Dutch institutional investment consultant LMG Emerge announced today that it has signed an advisory agreement with Hungarian real estate specialist REM. REM – a spin-off from Austrian bank Raiffeisen – is a specialist in Eastern European and Turkish property development and investment management. LMG will advise REM about trends and developments in the important Western European institutional investment market and provide inputs related to country selection, portfolio optimization and risk management. Erik L van Dijk, principal of LMG: ‘We are pleased with this cooperation. As specialists in Emerging and Frontier Markets we are always looking for good asset managers within this market segment. Eastern European and Turkish property is an interesting niche market with definitely a good future, but also one where we have seen a lot of things that went terribly wrong in the past few years. Not just in terms of valuation, but also because of calamities with some not-so-good providers who tried to cover this complicated market from the outside. We are therefore happy to team up with a local partner that appreciates our advice on the one hand and that passed our investment due diligence systems on the other. We also liked the straightforward Luxembourg SIF-FCP structure that REM opts for and their experience in dealing with Western European institutional clients.’ Andras Scharle, director at REM: ‘The cooperation with LMG is mutually beneficial. Market valuations have come down to attractive levels and Turkey is probably one of the biggest European growth markets within the Emerging world. We have built ourselves a good reputation as experienced bottom-up, hands-on Real Estate specialists in Eastern Europe in the fields of fund management, development and asset/property management and believe that our integrated approach to regional fund management and the link with LMG further strengthens our proposition to institutional investors.’
  • 2. The co-operative agreement started on October 1st, 2010. Performance will be analyzed annually and LMG’s ‘best-of-breed’ concept for Manager Selection applies. Van Dijk: ‘We are independent when it comes to asset manager selection and the recommendation of individual investment products and that will not change. We like REM’s Eastern European/Turkey proposition both bottom-up and top-down and we and our clients will be able to monitor things closely. REM will provide the required information to us and our database partner CAMRADATA from the UK.’ For more information: LMG Emerge (http://www.lmg-emerge.nl) REM International (http://www.rem.co.hu) Contact: Erik L. van Dijk (principal) Contact: Andras Scharle (director) erikvandijk@lmg-emerge.nl andras.scharle@rem.co.hu