The Q4 INREV German Vehicles Index’s total return slowed to 0.05% from 0.29% in Q3. Capital growth drove the decline, falling to -0.96% from -0.07% in Q3 as distributed income return increased to 1.01%, up from 0.36% in Q3.
This release includes 206 funds with a combined GAV of €189.8 billion as of the end of Q4 2023.
Key highlights:
- At -0.52% in Q4, Spezialfonds marked the first negative performance since Q2 2013. Publikumsfonds have now outperformed Spezialfonds for five consecutive quarters for the first time since the Index’s inception.
- At -0.17%, funds with a global focus recorded the lowest performance among all geographical breakdowns tracked by the Index. This is their first negative performance since Q2 2016.
- Residential was the only sector to show quarter-on-quarter improvement in performance (48 bps quarter-on-quarter). Their Q4 total return stood at 0.06%.
- Office-focused funds registered the lowest performance among single-sector specialists (-0.24%). Capital growth deteriorated by 293 bps to -2.67%.
View a detailed analysis via the German Vehicles Index Analysis Tool or download the snapshot, report, and Excel below.
German Vehicles Quarterly Index
Last updated on 28 Aug 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.