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Kristjan Tamla joined EfTEN Capital, prepares the launch of a real estate fund for private investors
Kristjan Tamla, an investment specialist and fund manager, joined as of today real estate fund management company EfTEN Capital as the head of retail segment. Tamla’s first task is to launch a real estate fund for private investors.
“EfTEN aims to offer more investment opportunities to private investors and I am pleased to make a contribution with my experience and knowledge. EfTEN is creating a fund where individuals can invest their capital in real estate, using a fund of funds-type instrument and gaining access to a wide real estate portfolio”, said Kristjan Tamla, head of retail segment at EfTEN Capital.
“I am sincerely happy that Kristjan joined the EfTEN team, so that together we can boost EfTEN’s fund portfolio. EfTEN is the largest commercial real estate fund management company in the Baltics, and we recently extended our operations to residential real estate with the creation of a new fund. The next step is the new fund of funds, to open up for retail investors opportunities, which have so far been available only to professional and institutional investors”, commented Viljar Arakas, CEO of EfTEN Capital AS.
According to Tamla, the interest of Estonian people in investing has grown and real estate has a clear role in saving for retirement. “Last year, deposits of households increased from 8 billion euros to 9 billion euros, or more than 12 percent. In addition, a pension reform was launched, offering more savings options for retirement. In essence, a private investor does not currently have the opportunity to invest in real estate on the Estonian market, except when purchasing a real estate and renting it out”, Tamla added.
The launch of the new fund is planned for 2021 and the terms of the fund are currently being prepared for submission to the Financial Supervision Authority. The fund plans to start issuing units on a regular basis, so that investors can invest money on a monthly basis, for example, by standing order.
Prior to joining EfTEN, Tamla worked for Swedbank in Estonia for more than 15 years, of which for the last seven years as the Chairman of the Management Board of Swedbank Investeerimisfondid AS. Previously, Tamla worked for Hansa Investment Funds as a member of the Management Board and as analyst, and previously he was economist at Eesti Pank and the Ministry of Finance. Tamla has obtained master’s degree in economics from Tallinn University of Technology and the University of Exeter.