Spezialfonds driving German fund flows

The German fund industry has attracted €5.5.bn in February, the vast majority through inflows in Spezialfonds aimed at institutional investors, while mutual funds reported outflows, according to the latest data presented by German fund industry association BVI.

Throughout February, Spezialfonds reported €6.9bn in inflows, while mutual funds reported €1.5bn in outflows, a €2bn deterioration compared to the previous month.

In the mutual fund segment, open ended real estate and multi asset funds turned out to be the most popular asset classes, at €0.9bn and €0.4bn respectively, while equity and bond funds reported outflows of €-0.7bn and €-1.8bn respectively.

In the real estate segment, there has been a significant shift towards Germany-based properties and a growing preference for shopping centers compared to office buildings over the past five years. As of February 2016, 70% of Spezialfonds property investments and 37% of mutual fund property investments are held in German buildings, at the expense of French property, which remains the second most popular investment location.

Overall, the German fund industry has attracted €22.1 bn in inflows since the beginning of the year, the total asset volume of the German fund industry amounted to €2.6trn at the end of February 2016.

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