German mutual funds: Multi-asset in favour

The German fund industry attracted €7.3bn throughout August, with multi-asset funds coming out as the most popular asset class among mutual fund investors, according to the latest data presented by German Investment Funds Association BVI.

Spezialfonds continue to remain the key driver of overall inflows, attracting €5.3bn throughout August, while mutual funds recovered graduallty and attracted €2.4bn, following net outflows of €8bn the previous month.

Among mutual funds, equity products continue to hold the largest overall share, with total assets amounting to €325bn by the end of August, but multi-asset products are gradually catching up, with a total of €221bn invested throughout the same period, followed by €200bn invested in bond funds and real estate funds with €87bn.

In terms of net new inflows into mutual funds, multi-asset turned out to be the most popular strategy in August, attracting €1.8bn, followed by bond fund, which reported €1.3bn in inflows, the latter being mainly driven by growing demand for corporate bond funds. Equity funds on the other hand continued their negative trend, with €0.4bn outflows throughout the month, while real estate funds showed marginal inflows of €0.1bn.

As of late August, the German fund industry manages a total of €2.8trn in assets, which amounts to 7.3% of the global fund market.

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