German investors buy in May
Contrary to the popular recommendation, German investors increased their exposure to multi-asset and equity funds throughout May, while bond funds reported outflows, German Investment Funds Association (BVI) data suggest.
In the first five months of 2015, the German asset management industry attracted inflows of€95.6bn, Spezialfonds attracted €59.9bn, the majority of all inflows, while mutual funds attracted €38.5bn.
Over the first five months of 2015, multi asset funds turned out to be the most popular, attracting €20.7bn of inflows, followed by bond funds with €7.7bn and equity funds with €6.4bn in inflows.
This pattern changed gradually in May. While multi-asset funds continued to report the strongest inflows (€3.2bn), equity (€1.7bn), money market (0.6bn) and open ended real estate funds (€0.1bn) overtook bond funds which now record small outflows of €-0.6bn.
By the end of May, the German fund industry managed a total of €2.6trn on behalf of institutional and retail investors.