German fund industry reports record inflows for Spezialfonds
The German fund industry reports a net inflow of €46.1bn for the first half of 2014, out of which €34.6bn to German Spezialfonds, which exceeded last year’s record level by €1.5bn, according to German industry association BVI.
Spezialfonds are open to a limited group of institutional investors. Over the past months, a growing number of pension funds and insurance companies have invested in Spezialfonds.
Inflows have also grown for Publikumsfonds, which reported inflows of €17.8bn for the first half of 2014, with multi-asset funds alone reporting inflows of €11bn, bond-funds reported inflows of €7,2bn.
The BVI also highlighted that the investment volume for life insurances has increased significantly, from €128bn in 2001 to €237bn in 2013.