'Balanced' leads German fund flows

Berlin_bundestagGermany’s investment funds industry saw sales of €13.7 billion in February – slightly down on the “strong start” to the year that the country’s main trade association, the BVI, reported for January. The latest figures, which were led by balanced and bond fund sales, showed that €4.2 billion of net new money came from retail customers investing in open-ended funds and €9.4 billion was sourced from institutions investing in Germany’s ‘Spezialfonds’ vehicles. The retail figure of €4.2 billion worth of sales in February compares to €4.7 billion of sales the month before. Total retail assets under management (AUM) were starting to chase the €1 trillion mark after crossing the €900 billion AUM threshold. AUM rose to €941 billion from €854 billion 12 months earlier. Although balanced and bond funds topped the sales ranking, AUM in equity funds ­– standing at €353 billion – meant this category remained the largest fund group with a 38% retail market share. The BVI said the last time the share was higher was during the years 1999 to 2002, when it rose to 55%. Balanced funds have been the second largest group in the German retail markets since February 2015, currently accounting for €239 billion of AUM. ©2017 funds europe

Sponsored Profiles

SPONSORED FEATURE: Alternative thinking

Mar 16, 2017

Portfolio Manager Davide Cataldo discusses the results of the Pioneer Investments’ survey on liquid alternatives and how investors can be encouraged to increase their allocation.

SPONSORED FEATURE: Interest rate risk hedging: Swapping to other options

Mar 16, 2017

Heightened margin requirements for cleared and uncleared OTC derivatives pose a challenge for legitimate hedging activities and are driving financial institutions to explore alternative hedging...

SPONSORED FEATURE: Why blockchain could be the fund industry’s next Ford Model T

Mar 16, 2017

Blockchain aims to radically change the way investors can access funds, says Olivier Portenseigne, Managing Director and Chief Commercial Officer of Fundsquare.

SPONSORED FEATURE: Open architecture: In need of protection

Mar 16, 2017

Greater efficiency must be embraced to ensure regulatory changes do not destroy choice for fund buyers, says Bernard Tancré of Clearstream.

Executive Interviews

INTERVIEW: Finding managers that can (and do)

Apr 18, 2017

Fabrice Kremer, a fund selector at Banque de Luxembourg Investments, has berated fundamental managers for failing to beat indices, but he remains committed to active funds. He speaks to Nick...

JERSEY INTERVIEW: ‘A steady sort of place’

Mar 21, 2017

The chief executive of Jersey Finance is keen to portray the island as a stable, trustworthy jurisdiction. He talks to George Mitton.


ROUNDTABLE: The issue is perception

Mar 21, 2017

Our panel discuss tax transparency, the elegance of private placement and why Jersey could do more to promote itself. Chaired by Tom Cowsill in Saint Helier.


Mar 07, 2017

Funds Europe speaks to leading Luxembourg industry figures about the growing regulatory demands on asset servicers and how to remain profitable in spite of major investments in technology.