German fund companies hit new record

German fund companies recorded inflows of new money to the tune of €17.2bn net in January 2017. These inflows were for the most part generated by open-ended Spezialfonds, with €10.2bn. Open-ended retail funds attracted €4.7bn in fresh capital, which is the highest inflow since October 2015 when they collected €4.8bn.
In the open-ended retail fund segment, balanced funds topped the sales chart in January, attracting €3.3bn net, followed by property funds with €1.2bn in new money. The last time property funds recorded a higher monthly figure was in January 2010, with new business in the amount of €1.7bn. Equity funds attracted €0.8bn in fresh capital.
As at the end of January 2017, fund companies managed net assets totalling €2.8trn, of which open-ended Spezialfonds accounted for €1.5trn, open-ended retail funds for €919bn, discretionary mandates for €402bn, closed-ended retail funds for €1.5bn and closed-ended Spezialfonds for €1.4bn.