Germany’s fund industry saw net inflows of €9.7 billion in October with retail figures reaching a record level.
Equity funds have the highest level of assets under management since 2009 and balanced funds are at an all-time high, according to the German funds industry association, the BVI.
Year to date, total new business amounts to €151.6 billion, of which over €93 billion is invested in ‘spezialfonds’ that are dedicated to institutional investors.
Retail funds recorded inflows of €63 billion net up to the end of October, which is roughly double the amount registered for the entire previous year. They are now approaching 2000's record sales level, when retail funds attracted inflows of almost €75 billion.
With inflows in excess of €33 billion by the end of October, balanced funds are heading for their third consecutive record year.
In terms of new business, equity funds are currently ranking second for 2015. After experiencing outflows for four consecutive calendar years, they raised just under €14 billion in new money by the end of October.
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