GERMANY - Inflows into Spezialfonds are set to exceed 2009's total volume, according July figures released by the investment and asset management association BVI.
The special institutional vehicles saw inflows of €28.2bn in the first seven months of 2010 - compared to €31bn in net new money for the whole of last year.
In July alone, institutional investors put €4.5bn into Spezialfonds - bringing the total inflows into investment funds (both Spezialfonds and generally available Publikumsfonds) to €43.3bn - once again the best result since 2007.
As for Publikumsfonds, in which also institutional investors frequently invest, the BVI noted balanced funds as well as bond funds attracted the most interest since the beginning of the year, while the most outflows were witnessed coming from money market funds.
In total, assets under management in all investment companies combined increased from €1.6trn (as per end-July 2009) to €1.77trn over a 12-months period.
In other news, the German operation of Dutch insurer Delta Lloyd has now confirmed it will discontinue new business in Germany - as announced in March this year.
The decision, triggered by slow business, was now agreed on by the management board and employee representatives, the company noted in a press release.
It stressed again that already signed contracts will not be affected by move.