Germany: Stocks overtake multi-asset

Inflows into German equity mutual funds have overtaken multi-asset mutual funds again as of November 2015 while 2015 inflows are set to exceed a record of €171bn, according to German fund industry association BVI.

By the end of November 2015, the German fund industry managed more than €2.6trn in assets, among which €1.4trn in Spezialfonds and €901m in mutual funds.

Among mutual funds, equities attracted €3.3bn in November, overtaking multi-asset, which recorded 2.6bn in inflows, fixed income funds on the other hand were faced with €1.5bn in outflows.

These figures contrast with annual results. As of January 2015, multi-asset turned out to be the most popular asset class among mutual funds, attracting €36bn, while equity funds saw €17bn in inflows and fixed income €8bn in inflows.

Another key trend is the growing popularity of Master KVG’s among institutional investors, which pool several Spezialfonds into one Master-Fonds consisting of several segments. As of 2015, about 70% of all Spezialfonds assets were segmented, compared to a mere 40% ten years ago, the BVI states.

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