REICO goes forth

Tomáš Jandík, the CIO of REICO investiční společnost České spořitelny: It ‘s the same as it has been for the last three years: building a balanced portfolio across four asset classes (offices, retail, logistics and high street) and in key CEE markets which will generate a moderate return at a very low risk in terms of the underlying asset base. Is Forum Nová Karolina likely to be your last large Czech purchase for some time? Yes. We won’t be buying a larger asset anywhere in the CEE region in the foreseeable future. At EUR 209 mln, Forum Nová Karolina is the largest real estate deal Erste Bank Group has ever done and I don’t see many more assets in the Czech Republic that would be both larger and potentially available. More importantly, after a three-year acquisition spree we have spent the bulk of our excess cash, which is another reason why we will be focusing more on mid-sized deals to keep our excess cash as l