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Union Investment: Open-ended funds aim to resume buying despite significant outflows

Institutional real estate business was able to offset the sales challenges
Paris Trocadero. (CoStar)
Paris Trocadero. (CoStar)
By Rune Rapp
Thomas Daily
January 19, 2026 | 9:10 AM

Union Investment's real estate business with private clients declined in 2025. Net outflows of €2.32 billion were recorded from the three open-ended retail funds, resulting in a negative BVI return (the metric commonly used by German funds) for these funds for the first time.

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