The Q1 2023 INREV German Vehicles Quarterly Index’s total return increased to 0.54% from 0.38% in Q4 2022. Capital growth decreased by 58 bps from -0.59% in Q4 to -0.01%. But distributed income decreased by 42 bps from 0.97% in Q4 to 0.55%.
This release includes 162 funds with a combined GAV of €127.0 billion as at the end of Q1 2023.
Key highlights:
- For the first time since Q3 2014, Publikumsfonds outperformed Spezialfonds. The historical gap in performance between the two structures had been narrowing throughout the last year.
- Total returns of German-focused vehicles decreased from 1.41% in Q4 2022 to 0.79% in Q1 2023. Performance of vehicles invested in Europe excluding Germany increased to 0.39% from 0.08% in Q4 2022.
- Vehicles with a focus on offices delivered the strongest Q1 2023 performance amongst funds with single sector strategies. Solely driven by capital growth, their total returns increased from 0.81% in Q4 2022 to 1.45% in Q1.
View a detailed analysis via the German Vehicles Index Analysis Tool or download the report, Excel and snapshots below.
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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.