The German funds industry recorded net inflows of €107.9 billion during the first eight months of this year, according to data published by BVI, Germany’s national funds association.
The figures show that inflows into retail funds and “Spezialfonds” have already surpassed the entire 2016 calendar year, when they attracted €103.3 billion in total.
In August alone, total new business for funds amounted to €11.1 billion, of which €5.8 billion was invested in open-ended retail funds, €5.2 billion was invested in open-ended Spezialfonds and €0.1 billion was invested in closed-ended funds.
Bond funds, which attracted record inflows of €5.6 billion, topped sales for open-ended retail funds in August.
Near-money market bond funds accounted for about half of these inflows with balanced funds coming in second on the sales chart with €1 billion of inflows.
Money market funds attracted €0.6 billion in August, the highest inflows in two years.
Actively-managed equity funds and equity ETFs saw outflows of €1.4 billion and €0.4 billion respectively.
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