The Q3 INREV German Vehicles Index’s total return decreased to 0.29% from 0.41% in Q2. The decline was driven by a decrease in distributed income return, down to 0.36% from the previous quarter’s 0.47%. Capital growth was down by just 1 bps to -0.07% from -0.06% in Q2.
This release includes 209 funds with a combined GAV of €193.2 billion as at the end of Q3 2023.
Key highlights:
- The one year rolling return for Publikumsfonds stood at 2.63% at the end of Q3 compared to 1.28% for Spezialfonds, marking the first one year rolling outperformance since Q4 2011.
- At 0.11%, the performance of funds solely focused on Germany fell behind those following broader European or global strategies for the first time since Q2 2015. The Q3 total return for the funds focused on global strategy reached 0.38%, while those with a focus on Europe excluding Germany returned 0.33% during the period.
- Industrial/logistics focused funds outperformed all other sector specialists, recording a Q3 total return of 0.68%. This is a major turnround, after a three quarter long strong negative performance streak.
- Residential performance deteriorated further, underperforming the overall index for the first time in 15 years on a one year rolling return basis.
View a detailed analysis via the German Vehicles Index Analysis Tool or download the report, Excel and snapshots below
German Vehicles Quarterly Index
Last updated on 27 Feb 2024
The INREV German Vehicles Quarterly Index covers the performance of non-listed real estate vehicles domiciled in Germany on a quarterly basis.
The All German Vehicles Quarterly Index can be further broken down by style, country, structure, legal structure and sector.