Institutions lift German spezialfonds investment
GERMANY – Institutional investment into German spezialfonds increased in the second quarter of 2003, according to new statistics from the BVI Bundesverband Investment and Asset Management.
According to the data, spezialfonds attracted 6.8 billion euros in the second quarter, up from 6.1 billion euros in the first quarter, taking the total amount invested this year up to 12.9 billion euros.
Bond and money market funds attracted 12.4 billion euros in investment, and property spezialfonds attracted 565 million euros.
By June 3 2003, the 5,219 spezialfonds had assets of 505.3 billion euros. The fund managers with the largest holdings in spezialfonds are: dbi (including Dit-spezialfonds), Deka and Deutsche Asset Management.
The BVI recently decided to publicise the quarterly spezialfonds figures in order to better meet the needs of the German asset management industry.
Spezialfonds are investment funds established exclusively for institutional investors.