Strong H1 demand for German open-ended funds: BVI

With the exception of a dip in May, the first six months of 2010 saw strong investor demand for German open-ended real estate funds (GOEFs), according to the latest report from industry body BVI.

The funds witnessed average net inflows of EUR 2.1 bn over the six-month period, BVI said. With assets under rmanagement of EUR 88 bn, GOEFs rank fourth among all fund categories in terms of investment volume. A further EUR 29.1 bn was invested in special funds targeting institutional investors, which saw average net inflows over the first six months of EUR 600 mln.

BVI said the drop in demand for GOEFs in May, when investors withdrew EUR 1.4 bn from the funds, had since reversed. In June the funds reported net inflows of EUR 300 mln.