Last year, coronavirus also affected large real estate projects, and for many real estate funds, which until then had benefited from rising prices and boom, the crisis had slowed down their performance. There was a more frequent loss of rents from shopping centers and shopping galleries, where tenants had to close for many weeks due to government measures. Many demanded discounts from building owners, and some even persisted. The uncertainty also partially affected the offices.

ČS real estate fund has about 59 percent of its portfolio in offices and more than a third in shopping buildings. Its 12-month yield at the end of September last year was 2.6 percent, compared to 4.6 percent a year earlier.

Tomáš Jandík, head of the board of directors of the investment company REICO, but defends the fund's performance in covid times. According to him, it is necessary to look at the rate of appreciation from a longer perspective, for example in the horizon of ten years, when the fund achieves an annual performance of around three percent. According to Jandík, the fund still serves its shareholders as a very conservative investment protecting money against inflation.