After strong inflows into the sector over the first quarter, retail investors continued to favour German Open-ended Funds. In April the net inflows registered €480 million, quite a robust level for this time of year.

Such steady inflows, however, have not been mirrored across other asset classes. Money market funds, in particular, registered strong capital outflows: -€1.7 billion withdrawals in March, followed by another -€1.1 billion of net disinvestment in April. In the open-ended property fund sector as a whole, some €3.6 billion has been received over the first four months of 2008. This is already slightly above the last year’s equivalent of €3.3 billion. The sector is well on track to see higher level of inflows this year, certainly above the level registered in 2007 of around €6.7 billion.

CBRE German Open-Ended Funds PDF - Apr 08