Withdrawal of one billion euros from investment funds at Flossbach von Storch
During the first six months of the current year, one of the most popular investment funds in Germany, the Multiple-Opportunities fund managed by “Flossbach von Storch,” experienced negative cash flows exceeding one billion euros, according to data released by the financial assessment agency “Morningstar Direct.”
On the other hand, a portion of these withdrawals was offset by positive cash inflows, including a flow of 905 million euros into the FvS-Bond-Opportunities fund.
Flossbach von Storch experiences a loss of one billion euros in investments
Considering the total assets reviewed by Morningstar, there was an outflow of 340 million euros. While this figure is relatively small compared to the company’s total assets under management of 75 billion euros, it still represents a notable setback, especially during the company’s 25th anniversary year.
Fund manager Bert Flossbach attributed these negative outflows primarily to changes in interest rate policies and the successful marketing efforts of certificate providers. He pointed out that the current environment for general investment funds is facing challenges, as many investors prefer banking products such as fixed deposits due to rising interest rates.
Additionally, the certificate market witnessed continuous growth. Outflows from the core version of the Multiple-Opportunities fund amounted to 363 million euros, while withdrawals from the internationally traded version, Multiple Opportunities II, reached 703 million euros.
However, the funds invested in the similar funds still amount to approximately 38.2 billion euros, showing an 8% growth as of August 4th this year.
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