The German fund industry has doubled in volume since 2008 and now manages assets in excess of €3 trillion, according to the BVI German Funds Association.
At the end of October, open-ended Spezialfonds accounted for more than half of this amount at €1,597 billion, figures from the association show.
Open-ended retail funds’ assets also reached a new record high of €1,018 billion.
Equity funds remained the largest asset class in the open-ended retail fund segment at €392.9 billion. Year-to-date, equity funds raised €12.7 billion net.
Balanced funds topped the year's sales chart with inflows of €25.6 billion. Fund companies originating from Germany managed 81 per cent of the assets held by open-ended retail funds.
Among foreign providers, the US ranks number one as the country of origin, followed by UK, France and Switzerland at 1 per cent of assets. Providers from 38 countries sell retail funds in Germany.
©2017 funds europe