February 13, 2019 / 12:05 PM / 3 months ago

German investment funds attract net inflows of 117 billion euros in 2018

A man is seen in front of a sheet of five Euro notes at the opening of the new Central Bank of Ireland offices in Dublin, Ireland April 24, 2017. REUTERS/Clodagh Kilcoyne/File Photo

FRANKFURT (Reuters) - Investment funds in Germany posted net inflows of 117 billion euros ($132.39 billion) in 2018 despite turbulent stock markets, the German Investment Funds Association (BVI) said on Wednesday.

The net inflow came primarily from professional investors, such as insurance companies and pension funds, the association said.

A decline in markets in 2018 resulted in a 1.6 percent drop in the volume of assets under management to 2.95 trillion euros, it said.

($1 = 0.8838 euros)

Reporting by Hans Seidenstuecker; Writing by Tom Sims; Editing by Riham Alkousaa

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