German funds under administration soar 9% in H1 2019
The German assets under administration and custody increased by 9%, amounting to €2.27trn, according to BVI, German Investment Funds Association.
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BNP Paribas Securities Services Frankfurt topped the list, administrating assets worth €598bn, followed by State Street Bank International (€298bn) and HSBC Trinkaus & Burkhardt (€252bn).
The asset allocation includes €2.03trn in open-ended securities funds, while real-estate funds amount to €214bn. Close-ended investment funds amounted to €19bn.