02/04/2007 (Agence Europe) - The European Commission is to establish an expert group on open real estate funds, which allow private consumers to invest in real estate whilst benefiting from a professional management of their assets. This group will put together a report, for the beginning of 2008, which will assess the various national regulatory approaches in this field of activity, and will study the possibility of European action to improve the cross-border sales of open real estate funds. It will be made up of real estate professionals and observers from consumer associations and regulatory authorities. Interested parties are invited to apply by 27 April. The final composition of the group will be published no later than the end of May. In mid-2008, the Commission will publish a report announcing its political orientations. The creation of this group was announced last December in the Commission White Paper on investment funds (see EUROPE 9308). (mb)