Investment funds in Germany recorded net inflows to the tune of €13.1bn in September 2017, after gathering €11.1bn in August, according to BVI. In terms of new business, at €6.8bn, open-ended Spezialfonds surpassed open-ended retail funds, which raised €6.3bn. Closed-ended funds recorded inflows in the amount of €0.03bn. Year to date, the inflows of investment funds totalled €121.1bn net. Over the same period, institutional investors withdrew €10.1bn from discretionary mandates.
Equity funds: active funds and ETFs registered inflows
At €2.9bn, bond funds once again topped the sales chart within the open-ended retail fund segment, followed by equity funds with inflows of €2.1bn, which had posted €1.8bn outflows in August. In September, new business was divided equally between actively managed equity funds and equity ETFs.
Balanced funds registered inflows of €1.2bn while property funds attracted €0.6bn.
Spezialfonds: insurers remain largest investor group
Open-ended Spezialfonds, which are incepted exclusively for institutional investors, collected €63.8bn year to date. 45%, or €28.7bn, of new business came from retirement benefit schemes such as pension funds and pension schemes. In 2016, their share was only 39%.