Funds: “You Can See the Volatility in Tech Stocks”
Selling pressure on real estate funds continues, and technology funds are no longer the only ones in demand. Funds investing in Asian stocks and money market funds are also seeing strong trading volume.
October 22, 2026. FRANKFURT (Deutsche Börse). The question of tech stock valuations is also a major topic in fund trading—tech stock funds are among the top performers in terms of trading volume. Open-end real estate funds are also ranking high. “Real estate funds are generating the highest trading volumes for us,” reports Ivo Orlemann of ICF Bank, for example. Particularly strong in terms of trading volume: hausInvest (DE0009807016), grundbesitz europa (DE0009807008), and Deka-ImmobilienEuropa (DE0009809566).
Selling pressure on real estate funds continues, with some having lost significant value in recent months. For example, the prices of the DWS funds grundbesitz europa (DE0009807008), grundbesitz global (DE0009807057), and grundbesitz Fokus Deutschland (DE0009807081) have halved since July. hausInvest and Deka-ImmobilienEuropa have also seen price declines, though these are significantly smaller. “We’re seeing buyers step in time and again for hausInvest,” explains Orlemann.
Tech Stocks Lead the Way
The nervousness surrounding AI valuations is also making itself felt. The U.S. tech index, the Nasdaq 100, has now lost just under 7 percent since hitting its all-time high a little over two weeks ago. “We keep seeing buying interest, but recently there have also been sales,” Orlemann reports, referring to the Fidelity Global Technology (LU0099574567). “You can feel the volatility.” There are more sales than purchases in the Henderson Horizon Global Technology (LU0070992663).
Ivo Orlemann
Profit-Taking in Asian Stocks
Matthias Präger of Baader Bank notes that broadly diversified equity funds are mostly seeing outflows. “But there isn’t much activity,” he adds. On the sell lists are the Fondak fund with German stocks (DE0008471012), the European stock funds CT European Smaller Companies (LU1864952335) and Fidelity European Growth (LU0048578792), as well as the internationally invested DWS Vermögensbildungsfonds (DE0008476524) and Dirk Müller Premium Aktien (DE000A111ZF1). On the other hand, there is strong demand for Deutsche Invest German Equities (LU0740822977) and DWS Akkumula (DE0008474024). ICF clients are favoring the UniFavorit Aktien fund, which holds stocks from around the world (DE0008007519).
Baader Bank is seeing more business than usual in the Asian fund segment. “However, these are mostly redemptions,” notes Präger. Examples include the Fidelity South East Asia (LU0048597586) and the DWS Top Asia (DE0009769760). Both have recently posted losses, but are still showing a significant gain since the beginning of the year.
Money Market Funds with High Trading Volume
Orlemann also reports trading activity in both directions for the equity-heavy Flossbach von Storch Multiple Opportunities (LU0323578657). The balanced fund is currently allocated 75 percent to stocks, 10 percent to bonds, and 9 percent to precious metals.
Trading in money market funds is very active, as Präger reports. “We’re seeing both buying and selling here.” Investors are buying the DWS Eurorenta (LU0003549028) and the UBS Money Market (LU0006344922), while selling the CB Geldmarkt Deutschland (LU0052221412) and Deutsche Floating Rate Notes (LU0034353002).
By Anna-Maria Borse, October 22, 2026, © Deutsche Börse AG
About the Author
Anna-Maria Borse is a finance and business editor specializing in financial markets, the stock market, and economic issues.
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