DIT taps into third parties

German IFAs are being targeted in a bid to steady the flow of funds into DIT products. Deutsche Investment Trust (DIT) has launched a new campaign to increase product distribution through third parties. The asset management subsidiary of insurance giant Allianz is primarily aiming to attract German independent financial advisers (IFAs) – a distribution channel it has not previously targeted. Currently, of DIT’s €42.1bn under management, 20 per cent comes from third party distributors. The firm is hoping to raise this to 30 per cent “as soon as possible”. Peter Vogel, DIT’s head of German distribution, said: “In the past six months we have been establishing a service especially for IFAs”. It entails more than mere fund management, he said. “They will get extensive information on the funds, how they work, the benchmark and Sharpe ratios. “There is much more work with IFAs and you get smaller amounts of money from them.” But he added that while asset managers invest large amounts, the size of their deposits means they cause more volatility. “With IFAs the money is invested for a long time.” In line with the new initiative, DIT has launched three guaranteed funds since January, which have already netted E1bn.