German fund industry managed assets with a value in excess of €3trn at the end of October 2017, doubling its volume since the end of 2008. At €1,597bn, open-ended Spezialfonds account for more than half of this amount.
The assets of open-ended retail funds also reached a new record high at €1,018bn. The assets managed by fund companies in closed-ended retail funds and closed-ended Spezialfonds total €5bn while those held under discretionary mandates amount to €381bn.
Equity funds largest group in terms of volume
At €392.9bn, equity funds remain the largest asset class, in terms of volume, within the open-ended retail fund segment. This equates to a share of 39%. During the current year, equity funds raised €12.7bn net: Equity ETFs account for €10.9bn, while actively managed funds account for €1.8bn. Balanced funds manage assets to the value of €259.7bn and top this year’s sales chart with inflows amounting to €25.6bn.
In October alone, they attracted fresh inflows to the tune of €2.3bn. With assets totalling €212.7bn, bond funds raised €18.5bn from the beginning of January to the end of October. In particular, near-money market products and funds with a focus on emerging market bonds recorded inflows. Property funds managing net assets to the tune of €89.6bn registered inflows totalling €4.3bn.
Retail funds: providers from 38 countries operate in Germany
Fund companies originating from Germany manage 81% of the assets held by open-ended retail funds, with the market share of foreign providers standing at 19%. This also includes German fund companies of foreign origin.
Among foreign providers, the US ranks number one as the country of origin, accounting for 9% of the assets under management, followed by UK at 4%, France at 3% and Switzerland at 1% of assets. In total, providers from 38 countries sell retail funds in Germany.