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KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland

Real estate investments incorporating ecological and social features.

The special fund "KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland" (KCD) is an open-ended mutual real estate fund in accordance with German investment law (German Investment Code) and is aimed in particular at private clients, foundations and church, charitable, diaconal and church-related institutions.

The KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland fund invests in established investment locations and metropolitan regions as well as in medium-sized cities and regional investment centers that are characterized by a high degree of urbanity and "robustness" (high degree of diversification in the employment structure). Investment properties include office, retail, residential, and specialty properties with charitable/diaconal/social uses. The resulting broad sector diversification ensures a balanced risk/return profile.

The sustainability approach includes environmental and social features and the Fund makes investments in part in pursuit of an environmental objective as defined in Article 2 No. 17 of the Disclosure Regulation. Specifically, the Company has defined the following ecological or social characteristics for the management of the investment fund:


Ecological features:

  • "Recognition of energy saving potentials in electricity and heat supply",
  • "Saving energy through demand-oriented and energy-efficient building equipment",
  • "Prevention of heat energy loss in terms of promoting energy-efficient buildings",
  • "Efficient, environmentally friendly and low CO2 use of potential energy carriers and sources",
  • "Promotion of energy-efficient heating/ventilation/air-conditioning systems and use of natural and environmentally friendly cooling/heating media in these systems."
  • "Good access to local and long-distance passenger transportation"; and
  • "Reduction of CO2 equivalent emissions".


Social characteristic:

  • "Promotion of accessibility."

The environmental characteristics and the social characteristic listed in the preceding section are each designed using different sustainability indicators. The Company determines the degree of fulfillment of each sustainability indicator using a point-based scoring system developed by the Company.

In addition, the Company is committed to meeting the environmental objective of reducing CO2e emissions for a portion of its investments, which is monitored using the Carbon Risk Real Estate Monitor ("CRREM").


Investment Opportunities

Investment Risks

  • Broad diversification in terms of geographical and sectoral allocation: investments in office, retail, residential and special properties in established investment locations, metropolitan regions, medium-sized cities and regional investment centers.
  • Sustainability concept: Sustainability analysis is an integral part of the investment process. In addition to the social benefits, this leads to long-term value retention and improved marketability of the properties.
  • 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.

  • Sustainability risks may occur, i.e. environmental, social or good corporate governance events that may have a negative impact on the value of the fund's investments and therefore on the value of the fund investment.

Fund facts

Mimimum Investment Amount 5.000 EUR

A2DHR6/ DE000A2DHR68

Clearstream-Compliance Yes
Fonds Launch Q1 2017
Fiscal Year 1st July -until 30. June

Historical development


Date of distributionDistribution per unitTax-free portion (for units in private portfolios)*
4. October 20220.19 EUR* -
1. October 20210.20 EUR* -
1. October 20200.11 EUR* -
1. October 20190.10 EUR* -
1. October 20180.06 EUR* -


* 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 Management
Direct: +49 89 189 16 65 0
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