Funds: New Investments and Profit-Taking

The growing skepticism toward tech stocks is also evident in fund trading. Otherwise, the fund industry is less responsive to current market fluctuations; the long-term outlook is more important. 

July 9, 2026. FRANKFURT (Deutsche Börse). Oil prices are up, stock markets are down—with the resurgence of the war in Iran, the markets are once again in turmoil. For fund trading, which involves many long-term investments, however, this hardly matters. “Fund investors react less to news than many ETF investors,” reports Ivo Orlemann, who trades actively managed funds and ETFs for ICF Bank. Overall, he currently sees no clear trend, with one exception: technology funds. “People are mostly selling here; the Nasdaq’s weakness is making itself felt.”

“Large individual orders on the sell side”

One fund affected by the sales is the Fidelity Global Technology (LU0099574567). Anja Deisenroth-Boström of Baader Bank reports strong trading volumes for broadly diversified international equity funds. She sees buying interest in the Collective Intelligence Fund (DE000A3C91C5) and the BIT Global Leaders (DE000A2QDRW2), and selling interest in the Quantex Global Value (LI0274481113) and the DWS Global Growth (DE0005152441). “When it comes to sales, the volumes of individual orders are generally high,” she notes.

The trader observes “substantial trading volume” in funds holding German and European stocks. “However, profit-taking predominated, especially during the DAX’s upward move toward its new all-time high.” Funds affected by selling include the DWS Deutschland (DE0008490962), the Fidelity European Growth (LU0048578792), and the Fondak (DE0008471012). On the other hand, the JPM Europe Equity Plus—in both its distribution and accumulation versions (LU0289089384, LU0289228842)—is on investors’ shopping lists. Orlemann reports outflows from the Allianz Europe Equity Growth (LU0256839860). 

Asian Stocks: “Investing with Caution”

Deisenroth-Boström observes average trading volumes for funds holding Asian stocks. “Despite the Chinese CSI 500 reaching a multi-year high, fund investors remain fairly cautious,” she notes. While buying has dominated, investments are being made with caution and in small volumes. Furthermore, interest is focused more on broadly diversified funds in the Asia-Pacific region rather than on specialized China funds. She reports inflows for the Robeco Asia Pacific Equities (LU0084617165), the Nomura Asia Pacific (DE0008484072), and the Schroder ISF China Opportunities (LU0244354667), and outflows for the Schroder ISF Asian Equity Yield (LU0188438112) and the Baring Hong Kong China (IE0000829238). 

Money Market Funds with High Trading Volume

Once again, the Flossbach von Storch Multiple Opportunities (LU0323578657) ranks among ICF’s top performers in terms of trading volume, with both purchases and sales. As of the end of June, this balanced fund had an equity allocation of 83 percent. Precious metals were the second-largest holding, at 8 percent.

Money market funds continue to see high trading volumes—also in both directions. “Global political uncertainties are driving investors toward all types of money market funds,” notes Baader trader Deisenroth-Boström. The Metzler Euro Liquidity (DE0009761684) and the Pictet Short-Term Money Market (LU0128494191) are in high demand. The DWS ESG Euro Money Market Fund (LU0225880524) and the Deutsche Floating Rate Notes (LU0034353002) are seeing more selling. At ICF, there’s a lot of activity in the UniOpti4 (LU0262776809). 
Real estate funds: “Purchases as well”