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DeA reported a solid Q318, with growth in AUM and a further strong increase in its net financial position driven by net reimbursement from fund co-investment. Since the end of Q3, it has increased its stake in its main real estate asset management subsidiary, which increases the share of AAM in the total, simplifies the group structure and is accretive to earnings and our adjusted net asset value, increased to €1.94 per share.

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