The German fund industry recorded its second highest net inflows in the first half of 2017, data published today shows.
German funds made net sales of €79.1 billion in the first six months of the year, figures from the German national funds association, BVI, show.
Only the record year of 2015 saw fund companies collecting higher inflows from the beginning of January to the end of June, then standing at €110.8 billion.
Balanced funds dominated new business attracting inflows of €18.8 billion during the first six months.
It is the best result for new business for any half year since 2015, when balanced funds collected €24.9 billion from the beginning of January to the end of June.
This year’s inflows were dominated by products that invest equally in equities and bonds, with €9.8 billion accounting for 52 per cent of all fresh money.
Balanced funds that invest at least two thirds of their capital in equities rank second at 29%, and products focusing on bonds rank third, at 19%.
With inflows of €49.2 billion during the current year, open-ended ‘Spezialfonds’, aimed at institutional investors, remain the driver of new business.
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