FRANKFURT (dpa-AFX) - Investors in Germany put more money into funds again last year. Fund companies managed total assets of 4,149 billion euros at the end of 2023. This was nine percent more than in the previous year, as announced by the German fund association BVI in Frankfurt on Tuesday. In 2022, assets under management had fallen after three consecutive years of growth. BVI President Dirk Degenhardt was satisfied with the start of the current year. "Fund sales got off to a positive start in 2024. This reflects the positive mood on the equity markets at the end of last year".

Last year, the industry achieved a considerable amount of new business with a total of 63 billion euros in funds and mandates in the face of geopolitical crises, persistent inflation and higher interest rates, said Degenhardt.

A good 12.9 billion euros in new money flowed into open-ended mutual funds, which are aimed at a broader range of investors. At the end of 2023, there was 1382 billion euros in such funds. In the previous year, 3.4 billion euros had been withdrawn. Equity funds and bond funds recorded inflows last year. New business with real estate funds declined, while investors withdrew money from mixed funds.

New business with exclusively institutional investors such as insurance companies amounted to 49.5 billion euros last year. Of this, 33.7 billion euros was attributable to open-ended special funds, which are reportedly the largest fund group in Germany with assets of 2079 billion euros./mar/DP/stk