Figures released for the second quarter of the year by European non-listed real estate association INREV show a steady improvement in the German Vehicles Index, which saw a marginal increase in total return in the quarter to 1.0%, up from 0.8% in Q1 2021
There was a marginal increase in the total return for Spezialfonds and Publikumsfonds, with total returns of 1.5% and 0.6%, respectively, maintaining the Spezialfonds outperformance over the Publikumsfonds by 88 bps, up from 86 bps in Q1.
INREV said the moderate improvement in performance was the result of a 22 bps quarter-on-quarter increase in capital growth, offset by a 9 bps decrease in distributed income return.
Not surprisingly, Industrial / Logistics-focused vehicles showed the strongest Q2 performance among all single sector strategies, posting a total return of 3.3%, their strongest result since Q1 2018.
This quarter’s Index release includes 217 vehicles and represents a total gross asset value of €186.9 billion as at the end of Q2 2021. The German Vehicles Quarterly Index is an unfrozen index, which means that historical data can change with future updates.