– Germany’s open-ended property funds saw their inflows more than halve in March. Inflows dropped to €508.2m from €1.2bn in February.
– Axa’s Immoselect was the strongest gainer, collecting €118.7m. SEB’s Immoinvest fund was the biggest loser, with €72m of outflows.
– In the year ended 31 March, Union Investment’s Deutschland fund produced the highest return of all open-ended funds, according to BVI. The fund produced an annual return of 8.5%. Last year, the fund sold a large package of property to Morgan Stanley and IVG. SEB’s ImmoPortfolio Target Return fund generated the second-highest returns, 8.2%. iii’s Euro ImmoProfil fund was the only fund to record a negative return, -0.5%.
