How (F)Low Can You Go? Open Ended Property Fund Flows Down 45%
Net Fund Flows Are Down, But Not Out
German public open-end property fund flows decreased by €656m (-45%, Δ 1 quarter) to a total of €790m in Q3 2022, which is the lowest level in 5 years (since Q3 2017). That said, they are still in positive territory and a long time away from the record quarterly outflow of €8.9bn from Q1 2006. Since then public open-end funds have, however, restructured and limited maximum outflow levels.
Let’s see how low they can go…