The German investment fund industry has attracted €7bn throughout September, with fixed-income focused multi-asset funds attracting most demand and most other asset classes reporting net outflows, according to the latest date presented by German Investment Funds Association BVI.
Since the beginning of this year, the German fund industry has attracted €70.2bn of which €65.6bn in Spezialfonds and €8.7bn in mutual funds. Among mutual funds, multi-asset remained by far the most popular strategy, attracting €7.1bn followed by open ended property funds (€4.6bn) and fixed income funds (€1.7bn) while equity funds and money market funds reported net outflows of -€1.3bn and -€1.1bn respectively since the beginning of the year.
This trend continued in September, with multi-asset funds attracting €1.6bn, open ended property funds €0.6bn, while money market- equity and fixed income funds reported net outflows of -€0.02bn, -€0.1bn and -€0.2bn respectively.
While the trend towards multi-asset has already been prevalent last year, BVI data suggest that there has been a shift from more equity-focused funds towards fixed-income focused multi-asset funds this year.