Property Investments in the Munich metropolitan region
The Investment Management Company has terminated the management of the open-end public fund Catella MAX with effect as of lapse of 13 October 2026, pursuant to § 99 of the German Capital Investment Act (KAGB) in conjunction with § 18 of the General Terms of Investment.
As a result of the termination of the management of Catella MAX, the Investment Management Company has permanently suspended the issuance and redemption of fund units in the fund.
For the timing being the fund will continue to exist; however, the existing real estate portfolio will be gradually sold over the coming years. The proceeds from these disposals - less the repayment of loans, liabilities and any other costs to be borne by the fund - will be distributed gradually and equally among all Catella MAX investors in proportion to their respective participation in the fund.
The Catella MAX fund is invested in the economically strong metropolitan region of Munich. Preference was given to central locations and attractive developments. Depending on the type of use - including residential, office and retail - strategies were identified in which investments were prioritised.
The aim has been to achieve a high degree of diversification in terms of building type and tenant structure, which is reflected in the economic structure of the target region, at least in the commercial sector. There has also been the opportunity to invest in development and restructuring projects.
In line with the sectoral diversification, the fund is invested in existing residential properties in the mid-price category and in new construction projects in the residential sector in attractive neighbourhood developments. In addition, the fund focused on small and medium-sized office properties in good locations with medium to high standards and, where possible, small-scale lettability. City centre retail space, possibly also with restructuring and re-letting requirements, as well as other uses supplements the sectoral diversification.
Fund facts
| WKN / ISIN | A0YFRV / DE000A0YFRV7 | |
| Clearstream Compliance | Yes | |
| Fund Launch | 24. February 2010 | |
| Fiscal Year | 01. June until 31. May |
Historical development
Documents Catella Max
Basic facts
- Notice of Termination and Suspension
- MAX FAQ
- Offer for the Revocation of the Redemption Declaration
- Sales Prospect (05/2026)
- Key Information Document (05/2026)
- Amendments to the General and Special Terms of Investment as of 16.04.2026
- Activation of a redemption fee Catella MAX
- Past Performance
- Past Performance Scenarios
- Past Cost Ratios
- Exemption procedure for tax-privileged investors
Investor Reporting
- Investor Reporting 09/2026
- Investor Reporting 08/2026
- Investor Reporting 07/2026
- Investor Reporting 06/2026
- Investor Reporting 05/2026
- Investor Reporting 04/2026
- Investor Reporting 03/2026
- Investor Reporting 02/2026
- Investor Reporting 01/2026
- Investor Reporting 12/2025
- Investor Reporting 11/2025
- Investor Reporting 10/2025
- Overview: Available Investor Reportings "Catella Max" (MAX)
Investor Relations
- Report of Investors Commitee Meeting 2026 (24.06.2026)
- Infomemorandum on the occassion of the investors committee meeting, 24 June 2026
- Report of Investors Commitee Meeting 2025 (25.06.2025)
- Infomemorandum on the occassion of the investors committee meeting, 25 June 2025
- Report of Investors Commitee Meeting 2024 (26.06.2024)
- Infomemorandum on the occassion of the investors committee meeting, 26 June 2024
Distributions
| Date of Distribution | Distribution per unit | Tax-free portion (for units in private portfolios) |
|---|---|---|
| 15 September 2026 | 0.35 EUR | -* |
| 26 September 2025 | 0.19 EUR | -* |
| 2 September 2024 | 0.48 EUR | -* |
| 1 September 2023 | 0.45 EUR | -* |
| 1 September 2022 | 0.65 EUR | -* |
| 1 September 2021 | 0.40 EUR | -* |
| 1 September 2020 | 0.40 EUR | -* |
| 30 October 2019 | 0.15 EUR | -* |
| 2 September 2019 | 0.29 EUR | -* |
| 3 September 2018 | 0.18 EUR | -* |
| 22 December 2017 | 0.07 EUR | 12.54% |
| 12. September 2017 | 0.31 EUR | 51.38 % |
| 1. September 2016 | 0.37 EUR | 48.64% |
| 1. September 2015 | 0.40 EUR | 49.58% |
| 1. September 2014 | 0.27 EUR | 52.07% |
| 2. September 2013 | 0.32 EUR | 32.59% |
| 3. September 2012 | 0.33 EUR | 32.88% |
| 1. September 2011 | 0.37 EUR | 26.38% |
| 1. September 2010 | 0.04 EUR | 2.86% |
* 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.

