German fund industry attracts €11.4bn in July
The German fund industry has attracted €11.4bn in new inflows throughout July, amounting to a total record level of €124.4bn in 2015, according to the latest data presented by German Investment Funds Association BVI.
Spezialfonds have this year been a key driver of inflows, attracting €74.6bn from January till July 2015, compared to €49.8bn into mutual funds over the same period, however, in July inflows in Spezialfonds slowed down somewhat.
While €4.7bn went into Spezialfonds in July, mutual funds now raised €6.5bn. It is the first time since June 2014 that inflows in mutual funds exceed those of Spezialfonds.
By asset class, equities and multi asset continued to be the most popular, attracting €3.5bn and €3.1bn respectively while bond funds reported €0.3bn in new funds. Open end real estate funds and money market funds reported net outflows of €-0.3bn and €-0.1bn respectively.