The German Equity fund industry celebrated its 60th anniversary. On 30 October 1950, Fondak, the first German equity fund was launched. Fondak stands for Fund for German shares. In the six decades of its existence, this fund has been established as the classic German Fund. During that time, the Fondak has recorded on average a gain of 10 ½ per cent per year. Someone who had invested 1,000 Euros at the beginning of the fund, would have more than 400,000 € by 2010. Currently the fund manages more than two billion euros in customer deposits.
James Dilworth, CEO Allianz Global Investors Germany GmbH: “The long-term performance of the Fondak exemplifies the added value that active management can provide. Thanks to its history and power , Fondak is not only a flagship for our company, but also for the entire industry.