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German investment funds gain E48bn

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GERMANY – German investment funds have seen net inflows of 48.7 billion euros in the first three quarters of 2003, according to the latest statistics from the BVI.

The 48.7 billion euros of new investment money, and rising markets, takes the total of funds under management in Germany to 930.9 billion euros, says the data from trade body Bundesverband Investment und Asset Management. This is an increase of 65.5 billion euros since the end of 2002.

Retail funds saw 30.09 billion euros of new investments over the first three quarters of this year. Property funds saw the largest interest with net inflows of 14.354 billion euros. There are 24 property funds now in Germany with nearly 90 billion euros in assets under management.

Fixed income funds saw inflows of almost nine billion euros over the first three quarters of this year. This is more than double that of the same period last year. As of the end of September this year, there were 634 fixed income funds with 119.1 billion euros in assets under management.

Inflows into money market funds have dropped in 2003 to 5.5 billion euros, from 9.5 billion the same period last year.

Equity funds attracted 1.6 billion euros in net inflows. Japanese equity and domestic equity funds received the most interest, while index funds and sector funds saw outflows.

On the institutional side, investors invested 17.8 billion euros of new capital into spezialfonds during the first three quarters of 2003.

Of the 930.9 billion euros invested in funds in Germany, 426.4 billion euros are invested in 2,470 retail funds, and 504.5 billion euros are invested in 5,307 spezialfonds.





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