Property Fund Flows Continue to Head Downhill
Institutional and Public Open-Ended Real Estate Funds:
Weakest Half Year Since 2014
In H1 2023, institutional and public open-end property funds (I&POFs) experienced their weakest half-year since H1 2014, attracting a combined net new money inflow of only €5.2bn. This represents a decline of 44% from H2 2022 and as much as 52% from H1 2022. However, H1 2023 is still a far cry from the huge outflows of 2005-06 and 2008.
It is also worth noting that the H1 2023 figures could be depressed by a typically weaker first half for institutional funds. It is also worth noting that H1 2023 figures may be depressed by a typically weaker first half for institutional funds. However, this trend was not observed in H1 2022. Indeed, the latter was the best first half in the history of institutional funds as managers seemingly pulled in already committed capital at a record pace.
