Spezialfonds drive €4.8bn German fund inflows in July
The German fund industry has attracted €4.8bn of inflows throughout July, a trend driven by strong demand for Spezialfonds, while mutual funds reported minor outflows, according to the latest data presented by the German Investment Funds Industry (BVI).
Among mutual funds, equity products offered the strongest results, reporting €0.7bn of new assets with total assets rising from €306 to €320bn.
Fixed income mutual funds remained stable, attracting €0.6bn in July.
They were followed by multi-asset funds, their assets increased from €214bn to €218bn, despite net outflows of €1.1bn in July. According to the BVI, this was due to €1.7bn in outflows among five mutual funds alone, excluding these funds, multi-asset products attracted €0.6bn of new inflows in 2016.
Since the beginning of this year, the German fund industry has attracted €54.3bn, of which 53.3bn in Spezialfonds, bringing the total number of assets managed by the German fund industry as of July to €2.8trn.