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Tuesday, October 13, 2009|
Lieber Expects a Boost from Rio's Olympic Win
2008 was a painful year for shareholders of the Alpine International Real Estate Equity Fund, but 2009 is looking up. In the Tuesday "Fund Track" column, Daisy Maxey reports that Sam Lieber, CEO of Alpine Woods Capital Investors, expects Rio de Janeiro's winning 2016 Olympics bid to be a boon to emerging real estate investors like his fund -- 22.9 percent of the fund's assets were invested in Brazil, as of June 30. Fundsters interested in the international real estate niche of the business may want to take a look.
According to the WSJ, Alpine International Real Estate Equity lost 71 percent last year, only to gain 110.2 percent year-to-date (as of October 9) and 64.6 percent in the past 12 months. Its $759.9 million in assets are down from $2 billion at the end of 2007 but up from $300 million in March 2009.
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