2024-02-13 18:04:38
Investors invested more money in funds and ETFs again last year. Open public funds in 2023 recorded net inflows of 12.9 billion euros after outflows of 3.4 billion euros in the previous year, the Federal Association of Investment and Asset Management (BVI) announced on Tuesday.
At the end of the year, there were 1,382 billion euros in such open-ended mutual funds, after 1,281 billion euros at the end of 2022. “Fund sales got off to a positive start in 2024. This reflects the good mood on the stock markets at the end of last year,” said BVI President Dirk Degenhardt.
Difficult year for real estate and mixed funds
Stock and bond market funds saw inflows last year. The changed interest rate policy had a positive impact on bond funds. They received a net inflow of 12.7 billion euros – after outflows of 16.5 billion euros in the previous year. As in the equities sector, passive index funds (ETFs) once again proved to be a strong pillar of new business in the bond segment. However, 15.5 billion euros were withdrawn from the mixed funds that have been in demand for years. The crisis on the real estate market also had an impact on the fund business.
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Overall, assets managed for private and institutional investors rose by 9 percent to 4,149 billion euros last year. According to the BVI, it has almost doubled over the period of ten years. The majority of this lies in open special funds, which are set up for pension funds and insurers, as well as in closed funds for institutional investors.
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