There were no changes to CapMan's financial targets or the timeline for achieving them at the Capital Markets Day, and the company is still aiming for EUR 10 billion in AUM by the end of 2027 (Q4'24: 6.1 BEUR). Otherwise, the event was very unsurprising, which, of course, is not a bad thing in the long-term asset management business. Thus, the strategy will continue to focus on the profitable scaling of the asset management business in the coming years. Scalability is particularly sought from personnel expenses, which should grow more slowly than business income as CapMan's investment areas are in a more mature phase.

Real estate has been one of the best performing asset classes in asset management over the past decade. This has been true for both investors and the companies that manage their investments.