German open-ended property funds are in crisis, yet Anglo-Saxon players are doing well in the country's real estate investment market. The opening line of the Charles Dickens' novel A Tale of Two Cities, "It was the best of times, it was the worst of times", aptly describes the state of Germany's property investment market. Times could not be worse for German banks active in that market. Open-ended property funds - the banks' premier real estate product with ?88bn in total assets - are in crisis for the first time since their launch in 1959.
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机译：德国开放式房地产基金处于危机中，但盎格鲁撒克逊人在该国的房地产投资市场上表现良好。查尔斯·狄更斯（Charles Dickens）的小说《两个城市的故事》（A Tale of Two Cities）的开场白恰当地描述了德国房地产投资市场的状况。对于活跃于该市场的德国银行而言，时间不会更糟。自1959年成立以来，开放式不动产基金是银行的主要房地产产品，总资产达880亿欧元，这是首次陷入危机。
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