Record highs of stock indices such as the German Dax or the American Dow Jones reflect the high level of investor interest in stocks - despite the corona pandemic and many geopolitical risks.
Because interest rates are still meager.
And for the first time in its history, the Dax passed the 16,000 point mark on Friday in this environment.
Kerstin Papon
Editor in business.
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In line with this, the German fund industry is now reporting a record: In the middle of the year, the fund companies in this country managed assets of 4086 billion euros, making it for the first time ever to break the 4 trillion euros threshold. The BVI fund association announced this on Tuesday. In particular demand: equity funds.
According to the BVI, one third of the volume or EUR 1,354 billion was accounted for by open-ended mutual funds.
Open special funds for institutional investors such as pension institutions and certain investor groups, on the other hand, accounted for around half of the company's assets, at 2084 billion euros.
The rest was accounted for by mandates (615 billion euros) and closed funds (34).
Since the beginning of the year, total assets have grown by 6 percent or 234 billion euros.
Inflows of 110.4 billion euros net contributed to this.
The new business of the open funds was accounted for in roughly equal parts by mutual and special funds.
High volumes in equity funds
According to the BVI, equity funds top the sales list by far in the first half of the year. They received 35.3 billion euros - actively managed funds came to 19.4 billion euros, passive equity funds (ETF) to 15.9 billion euros. These are the highest inflows into equity funds in the first half of the year since 2000, when it was 42.7 billion euros, writes the BVI. However, a look at the relative new business shows that the result for the first six months of 2000 remains exceptional. Because the inflows would have made up 24 percent of equity fund assets at the beginning of the year (180 billion euros). Now it is 8 percent of 459 billion euros at the beginning of January.
Equity funds are also the largest group of mutual funds in terms of volume (576 billion euros). Mixed funds follow with 366 billion euros. They received 16.9 billion euros in the first half of the year. In terms of new business, real estate funds are in third place with 4 billion euros, followed by pension funds with 1.1 billion euros.
The trend towards sustainability continues. Corresponding funds account for 10 percent of the assets. The products classified by the members as Article 8 funds (sustainability strategy) and Article 9 funds ("Impact") are considered sustainable. At the middle of the year, the industry was managing 361 billion euros in sustainable funds - two thirds in public funds, one third in special funds. The inflows in the second quarter amounted to 10.2 billion euros; 9.3 billion euros flowed into open mutual funds. That is 33 percent of the new business of this fund group, says the BVI. In the first quarter it was 45 percent.