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Catella Bavaria

Real Estate Investments in the Metropolitan Areas of Munich and Nuremberg.

The "Catella Bavaria" fund is an open-end mutual real estate fund under German investment law (German Investment Code, “KAGB”). It is aimed in particular at experienced private investors and as well as professional and semi-professional investors from the areas foundations, wealth management companies and similar institutions.

As a complementary product, the Catella Bavaria fund, which has greater flexibility in terms of sectoral and regional allocation, is intended to continue the success story started by the Catella MAX fund in 2010. The aim is to invest in real estate in Bavaria, which is characterized by a high level of employment and income. There, the focus is particularly on real estate in the two metropolitan regions of Munich and Nuremberg. The sectoral allocation will reflect the respective market conditions by specifying ranges and, in particular, a variable weightings to the residential and office usage types (generally between 20 and 40% each). The resulting broad sectoral diversification allows more flexibility in structuring the portfolio and ensure a balanced risk/return profile. Furthermore, project development acquisitions and implementations are also planned to diversify the portfolio to a certain extent.


Investment Opportunities

Investment Risks

  • Bavarian investment market: Bavaria stands out as the leader in economic performance and quality of life among the German states based on various factors.
  • Broad diversification in terms of tenant structure: from global players to traditional founders and start-ups.
  • High fund occupancy rate and fixed loan interest rate leads to stable net income in the coming years.
  • Achievement of stable returns through professional asset management.
  • Interest rate risk with regard to debt financing and liquidity investments.
  • Limited return options due to legal deadlines.
  • Property-related risks such as valuation, outstanding rental payments, occupancy rate.
  • Completion of construction projects or property measures may be delayed or more expensive than assumed at the start of the project.

Fund facts

Minium Investment Amount 100.000 EUR 
WKN / ISIN DE000A2AS909 / A2AS90
Clearstream Compliance Yes
Fund Launch 15.12.2016
Fiscal Year 01. September until 31. August


Historical development


Date of distributionDistribution per unitTax-free portion (for units in private portfolios)*
1. December 20220.20 EUR-*
1. December 20210.20 EUR-*
1. December 20200.22 EUR-*
2. December 20190.23 EUR-*
1. Decembre 20180.11 EUR-*
30. November 20170.01 EUR40.00%


* The investment fund meets both the formal and the material requirements of section 20(3) sentence 1 no. 1 of the InvStG (in the version applicable since January 1, 2018). German private investors can therefore claim a partial exemption rate of 60% on distributions.


The information and data are provided on a voluntary basis and may not be sufficient or suitable to support an informed investment decision without further explanations and additional information, in particular the relevant sales documents of the investment fund (e.g. sales prospectus, key investor information). It is therefore recommended that investors also read the sales documents carefully before making an investment decision and, in particular, consult their investment advisor and tax advisor if they have any questions.

Portfolio Manager


Fabian Herrmann

Portfolio Manager
Direct: +49 89 189 16 65 0
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