Germany’s assorted fund firms received net inflows of €7 billion in September, bringing total year-to-date inflows to €70.2 billion.
So far, this is half of the €142 billion net flow for the full year 2015, though comparable with the €70.4 billion inflow for the 12 months in the year before. The total size of the industry’s assets under management is €2.8 trillion.
The non-institutional investment market remains relatively small in Germany. Retail funds and discretionary mandates make up €899 billion and €417 billion of total assets, respectively, while Spezialfonds – vehicles for institutions – hold over €1.5 trillion.
Balanced funds remained the most popular for retail investors, with net inflows of €7.1 billion since the start of 2016.
At the end of September, balanced funds managed €221 billion of assets – the second largest group after equity funds, which manage €323 billion.
Bond-oriented balanced funds attracted over half of all fresh money this year – €3.8 billion – in contrast to last year when equity-tilted balanced funds dominated flows.
Pure equity funds – both passive and active – have been hit hard in 2016, with active funds seeing outflows of €1.3 billion and equity ETFs suffering €4.3 billion of outflows.
Corporate bond and emerging market bond funds reaped the bulk of the €1.7 billion inflow into the bond category.
©2016 funds europe
