Fund Flows: Welche Fonds Anleger 2026 kaufen und verkaufen
Der Vanguard FTSE All-World ETF überflügelt laut den Fundflows von Mountain-View Data mit 1,9 Milliarden Euro Zuflüssen ETFs auf den MSCI World. Gleichzeitig verlieren ehemalige Lieblingsfonds wie der FvS Multiple Opportunities, Fundsmith oder Morgan Stanley Global Brands weiter in der Anlegergunst.26.02.2026 | 11:30 Uhr von «Jörn Kränicke»
Dass einzelne Geldmarktfonds im Januar 2026 die höchsten Nettomittelzuflüsse verzeichneten, überrascht in wenig. Bemerkenswert ist jedoch, dass sich der Vanguard FTSE All-World UCITS ETF (USD) in diese Spitzengruppe vorkämpfte. Mit Zuflüssen von 1,9 Milliarden Euro war er laut Mountain-View Data der absatzstärkste Aktienfonds bzw. ETF des ersten Monats 2026.
Breite Streuung schlägt Klumpenrisiko
Der Erfolg des Vanguard-ETFs dürfte nicht zuletzt auf der zunehmenden Kritik am MSCI World basieren, dessen hohes Klumpenrisiko in einzelnen US-Technologiewerten Anleger verunsichert. Der FTSE All-World Index punktet hier mit deutlich besserer Diversifikation: Mit rund 4.230 Titeln gegenüber 1.319 im MSCI World bietet er eine wesentlich breitere Streuung. Die Schwergewichte Amazon, Apple, Microsoft und Co. machen im FTSE nur 18 Prozent aus – im MSCI World sind es knapp 25 Prozent.
Schwellenländer erleben Renaissance
Schwellenländer stehen wieder hoch im Kurs der Anleger. Allein in den iShares Core MSCI EM IMI UCITS ETF USD (Acc) flossen im Januar gut eine Milliarde Euro. Mit einem Plus von bereits zwölf Prozent im laufenden Jahr zeigt sich die Performance als wichtiger Treiber. Unter den Top 100 der Fonds mit den größten Mittelzuflüssen finden sich laut Mountain-View Data gleich mehrere Schwellenländer-Produkte.
Europa und Rohstoffe im Fokus
Auch Europa-ETFs auf Indizes wie den MSCI Europe oder Stoxx 600 verzeichnen starke Zuflüsse – oft ein Frühindikator für die Einkaufslisten institutioneller Investoren. Der anhaltend hohe Goldpreis beschert zudem Goldminenfonds kräftige Mittelzuflüsse. Der BGF World Gold Fund sammelte 745 Millionen Euro ein, während der BGF World Mining Fund 412 Millionen Euro anzog.
Momentum-Investing trotz Schwächephasen
Die Analyse der Fundflows offenbart ein interessantes Phänomen: Trotz zeitweiser Schwäche fließt weiterhin viel Geld in Tech-Topperformer. Der Polar Capital Global Technology Fund erhielt im Januar 461 Millionen Euro an frischen Mitteln.
Besonders beeindruckend ist der Südkorea-Boom. „Südkorea ist derzeit wieder ‚en vogue'. Nach Jahren struktureller Unterbewertung hat der Markt einen Teil des sogenannten Korea-Abschlags aufgeholt", erklärt Christy Tan, Senior Investment Strategist beim Franklin Templeton Institute. Mit einem Plus von 95 Prozent im Jahr 2025 und weiteren fast 50 Prozent seit Jahresbeginn 2026 zeigt der koreanische Markt eine außergewöhnliche Dynamik. Daher flossen in den Franklin FTSE Korea UCITS ETF rund 400 Millionen Euro im Januar 2026.
Value-Strategien feiern Comeback
Ein Trend kristallisiert sich besonders deutlich heraus: Die Renaissance von Value- und Dividendenaktien. Der iShares Edge MSCI World ValueFactor UCITS ETF verzeichnete Zuflüsse von 346 Millionen Euro, der iShares Swiss Dividend ETF 340 Millionen.
Auch aktive Value-Strategien profitieren: Der Robeco BPGlobal Premium Equities erhielt 362 Millionen Euro und sicherte sich damit einen Platz unter den Top 90. Die Boston Partners-Manager setzen dabei auf quantitatives Screening von fast 12.000 Aktien nach Bewertung, Fundamentaldaten und Momentum. Der M&G (Lux) European Strategic Value Fund sammelte 300 Millionen Euro ein und steigerte sein Volumen auf rund 6,5 Milliarden Euro.
Die Verlierer: Ehemalige Stars unter Druck
Zu den größten Verlierern zählte im Januar mit Abflüssen von 1,1 Milliarden Euro der Pareto SICAV - Pareto Nordic Corporate Bond. Noch vor kurzem standen nordische Bonds gerade bei Vermögensverwaltern hoch im Kurs. Wie schon seit einiger Zeit stehen Low Performer wie der Morgan Stanley InvestmentFundsGlobal Brands Fund auf der Verkaufsliste. Der einstige Anlegerliebling verlor weitere 516 Millionen an Mitteln.
Auch beim Fundsmith Equity Fund geht es mit dem Volumen weiter abwärts. Rund 560 Millionen Euro verlor er im Januar. Auch beim Fundsmith Fonds dürfte die schwache 12-Monats-Performance von aktuell minus zwölf Prozent dürfte dafür den Ausschlag gegeben haben. Dennoch hat der Fonds noch ein Volumen von gut 15 Milliarden Euro.
Nach wie vor drücken beim FvS Multiple Opportunities viele Anleger nach wie vor auf den Verkaufsknopf. Das Ergebnis: Abflüsse in Höhe von knapp 693 Millionen Euro. Der Verkaufsdruck bei Offenen Immobilienfonds hört noch nicht auf. Der Deka-ImmobilienEuropa verlor 251 Millionen Euro und der UniImmo: Europa 150 Millionen Euro an Mitteln.
Fonds mit größten Zuflüssen
| Fondsname | ISIN | Zuflüsse Januar 2026 | Fondsvolumen Januar 2026 |
|---|---|---|---|
| BFT AUREUS ISR - P (C) | FR0012903250 | 5.500.903.254 | 29.231.553.271 |
| JPMorgan Liquidity Funds - USD Liquidity LVNAV Fund D (acc.) | LU1873131392 | 2.890.311.408 | 134.866.763.594 |
| JPMorgan Liquidity Funds - USD Treasury CNAV Fund D (acc.) | LU1873132523 | 2.758.427.056 | 55.689.088.254 |
| State Street USD Liquidity LVNAV Fund Distributor | IE00BBT33L84 | 2.212.210.474 | 24.201.880.008 |
| Generali Money Market Fund A Accumulation EUR | LU1079698293 | 2.136.829.413 | 12.295.678.891 |
| SG MONETAIRE PLUS - P | FR0011362094 | 2.132.129.696 | 14.137.130.321 |
| Ostrum SRI Money Plus I (C) EUR | FR0010885236 | 2.023.050.493 | 16.872.722.128 |
| Vanguard FTSE All-World UCITS ETF - (USD) Distributing | IE00B3RBWM25 | 1.906.038.108 | 47.663.672.098 |
| AXA IM EURO LIQUIDITY SRI Capitalisation EUR pf | FR0000978371 | 1.754.901.649 | 10.801.822.698 |
| Ostrum SRI Cash M/N EUR | FR0010392951 | 1.532.256.458 | 8.918.442.498 |
| JPMorgan Liquidity Funds - EUR Liquidity LVNAV Fund D (acc.) | LU1873127879 | 1.512.404.975 | 31.081.821.330 |
| AMUNDI EURO LIQUIDITY SELECT - P (C) | FR0011630557 | 1.497.847.186 | 51.315.963.893 |
| BlackRock ICS US Dollar Liquidity Fund Core Acc Accu USD | IE0004810143 | 1.401.980.052 | 9.006.913.290 |
| BNP Paribas Money 3M IC | FR0000287716 | 1.398.046.386 | 15.707.331.153 |
| Arkéa Support Monétaire (P) | FR0013440153 | 1.376.883.196 | 8.616.241.838 |
| Amundi Smart Overnight Return UCITS ETF acc | LU1190417599 | 1.343.024.203 | 13.807.073.296 |
| GROUPAMA TRESORERIE IC EUR | FR0000989626 | 1.322.157.515 | 8.438.490.532 |
| CM-AM CASH ISR ES | FR0013258886 | 1.179.494.211 | 15.940.141.372 |
| HSBC Global Funds ICAV - Global Government Bond UCITS ETF XCH | IE00BF5F9H45 | 1.098.371.586 | 8.109.454.972 |
| iShares Core MSCI EM IMI UCITS ETF USD (Acc) | IE00BKM4GZ66 | 1.071.959.436 | 31.530.800.993 |
| Union + TC | FR0013360245 | 1.051.939.070 | 15.959.857.046 |
| Swiss Life Funds (F) Money Market Euro P EUR | FR0010540385 | 1.027.232.517 | 8.541.624.070 |
| AMUNDI EURO LIQUIDITY-RATED RESPONSIBLE - I (C) | FR0007038138 | 1.021.428.313 | 34.421.920.908 |
| UBS (Irl) ETF plc - UBS Core MSCI World UCITS ETF Klasse USD dis | IE00B7KQ7B66 | 1.012.092.200 | 8.848.969.574 |
| AMUNDI EURO LIQUIDITY SHORT TERM RESPONSIBLE - I (C) | FR0007435920 | 1.008.432.851 | 23.830.164.548 |
| Ostrum SRI Cash Plus R/C EUR | FR0000293714 | 965.497.513 | 13.780.763.009 |
| Amundi Core MSCI Europe AE Acc | LU0389811885 | 937.562.087 | 8.151.928.913 |
| GROUPAMA ENTREPRISES M EUR | FR0010693051 | 914.801.800 | 6.278.320.822 |
| State Street Emerging Markets Local Currency Government Bond Index Fund - I USD | LU2008206901 | 886.998.216 | 2.880.251.485 |
| BNP PARIBAS SRI INVEST 3M I C | FR0010216804 | 870.398.383 | 9.006.229.934 |
| BNY Mellon U.S. Treasury Fund Service | IE0030624948 | 846.316.042 | 14.520.314.413 |
| UBS (Lux) Fund Solutions - UBS Core MSCI EMU UCITS ETF EUR dis | LU0147308422 | 835.244.783 | 7.467.516.147 |
| iShares J.P. Morgan EM Local Govt Bond UCITS ETF USD (Dist) | IE00B5M4WH52 | 830.958.138 | 5.089.331.106 |
| iShares Core MSCI World UCITS ETF USD (Acc) | IE00B4L5Y983 | 829.802.906 | 112.784.218.754 |
| Pareto SICAV - Pareto Nordic Cross Credit R EUR | LU2200514128 | 819.448.759 | 12.104.519.961 |
| Ostrum SRI Money R/C (EUR) | FR0011563535 | 817.095.128 | 10.539.449.865 |
| Vanguard Global Bond Index Fund - USD Hedged Acc | IE00B18GCB14 | 778.249.898 | 25.294.594.633 |
| BGF World Gold Fund A2 USD | LU0055631609 | 744.981.554 | 11.065.566.530 |
| Amundi Core Stoxx Europe 600 UCITS ETF Acc | LU0908500753 | 728.578.025 | 16.308.858.096 |
| JPMorgan Liquidity Funds - EUR Standard Money Market VNAV Fund D (acc.) | LU2095450636 | 721.764.099 | 9.424.709.272 |
| Allianz Income and Growth - AT - USD | LU0689472784 | 720.722.222 | 56.903.956.035 |
| Schroder International Selection Fund Global Credit Income A Distribution USD MF | LU1514167136 | 692.198.995 | 7.267.408.588 |
| Ofi Invest ESG Monétaire IC | FR0011381227 | 692.145.487 | 5.197.239.313 |
| Capital Group Global Corporate Bond Fund (LUX) B USD | LU1746179297 | 680.655.632 | 5.293.243.632 |
| VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | NL0011683594 | 668.609.710 | 5.654.073.045 |
| LO Funds - Convertible Bond, Syst. NAV Hdg, (USD) PA | LU0871572292 | 605.830.258 | 1.418.942.282 |
| iShares MSCI EM UCITS ETF USD (Dist) | IE00B0M63177 | 581.994.058 | 7.248.792.888 |
| GROUPAMA MONETAIRE M EUR | FR0010693069 | 571.753.430 | 2.971.790.773 |
| iShares MSCI EM UCITS ETF USD (Acc) | IE00B4L5YC18 | 554.738.178 | 6.374.516.686 |
| Janus Henderson Balanced Fund A2 USD | IE0004445015 | 551.657.088 | 9.865.111.925 |
| iShares MSCI ACWI UCITS ETF USD (Acc) | IE00B6R52259 | 532.353.810 | 22.887.041.229 |
| Amundi Euro Stoxx Banks UCITS ETF Acc | LU1829219390 | 511.696.960 | 4.895.269.091 |
| UBS (Irl) ETF plc - UBS Core S&P 500 UCITS ETF, Klasse USD dis | IE00B7K93397 | 501.620.498 | 3.146.398.208 |
| L&G MSCI Europe Climate Pathway UCITS ETF EUR Accumulating ETF | IE00BKLTRN76 | 488.424.543 | 1.345.699.173 |
| SPDR MSCI All Country World UCITS ETF (Acc) | IE00B44Z5B48 | 488.136.243 | 8.777.834.048 |
| AMUNDI FUNDS CASH USD - A2 USD | LU0568621618 | 486.504.725 | 4.289.048.064 |
| JPMorgan Liquidity Funds - GBP Liquidity LVNAV Fund D (acc.) | LU1873129222 | 485.352.164 | 21.754.292.512 |
| BNP PARIBAS MOIS ISR I C | FR0007009808 | 478.284.773 | 24.804.241.564 |
| BlackRock ICS Euro Government Liquidity Fund Core Accumulating T0 EUR | IE00B39VC974 | 466.693.215 | 6.139.265.445 |
| iShares Developed World Index Fund (IE) Institutional Accumulating EUR | IE00B62WCL09 | 466.025.755 | 24.592.813.385 |
| Polar Capital Funds plc - Global Technology Fund Class USD Distribution Shares | IE0030772275 | 460.761.883 | 22.033.104.700 |
| Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF - (USD) Accumulating | IE00BLRPPV00 | 458.964.141 | 5.990.240.600 |
| Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing | IE00B8GKDB10 | 449.866.834 | 8.632.792.614 |
| iShares MSCI World Screened UCITS ETF USD (Acc) | IE00BFNM3J75 | 435.493.211 | 5.927.883.838 |
| HSBC GLOBAL INVESTMENT FUNDS - GLOBAL GOVERNMENT BOND ZD | LU1079017445 | 430.776.193 | 3.305.710.090 |
| Vanguard Emerging Markets Stock Index Fund - Investor Euro Accumulation Shares | IE0031786142 | 430.707.965 | 20.349.931.652 |
| iShares Broad Global Govt Bond UCITS ETF AUD Hedged (Dist) | IE0007F5YXX0 | 425.724.211 | 4.657.481.591 |
| UBAM - Global High Yield Solution RC USD | LU0569864480 | 423.504.309 | 7.708.898.038 |
| iShares MSCI USA Small Cap ESG Enhanced CTB UCITS ETF USD (Acc) | IE00B3VWM098 | 421.628.536 | 2.219.806.056 |
| Amundi S&P World Industrials Screened UCITS ETF Acc | IE000LTA2082 | 419.387.551 | 765.541.118 |
| Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF - (USD) Distributing | IE00B9F5YL18 | 412.879.120 | 2.364.665.367 |
| BGF World Mining Fund A2 USD | LU0075056555 | 412.204.900 | 6.365.487.289 |
| WisdomTree Europe Defence UCITS ETF - EUR Acc | IE0002Y8CX98 | 407.253.843 | 4.143.710.018 |
| Western Asset US Dollar Liquidity Fund - C | IE0033600796 | 403.003.437 | 2.063.520.500 |
| Ostrum Euro Liquidity LVNAV R/C EUR | FR0011034735 | 398.288.941 | 1.901.346.228 |
| Franklin FTSE Korea UCITS ETF | IE00BHZRR030 | 398.093.912 | 2.158.999.346 |
| Eurizon Fund - Money Market EUR T1 Z EUR Accumulation | LU1961031041 | 395.097.157 | 1.584.595.572 |
| Amundi S&P World Materials Screened UCITS ETF Acc | IE000FCGBU62 | 393.769.484 | 702.297.185 |
| Vontobel Fund - Credit Opportunities R USD | LU2416423213 | 384.764.331 | 2.575.281.067 |
| Candriam Money Market Euro AAA, Classique - Capitalisation | LU0354091653 | 383.167.567 | 1.784.515.064 |
| iShares MSCI EM Asia UCITS ETF USD (Acc) | IE00B5L8K969 | 378.959.524 | 5.238.614.566 |
| Goldman Sachs Global Credit Portfolio (Hedged) Base Shares (Acc.) | LU0234589348 | 374.005.224 | 3.512.859.443 |
| iShares $ Treasury Bond 3-7yr UCITS ETF USD (Acc) | IE00B3VWN393 | 368.388.440 | 8.546.345.367 |
| Swiss Life Funds (F) Short Term Euro I EUR | FR0011060870 | 367.477.834 | 1.622.473.565 |
| JPMorgan Liquidity Funds - GBP Standard Money Market VNAV Fund D (acc.) | LU0161688402 | 365.757.733 | 1.870.633.499 |
| LGIM US Dollar Liquidity Fund Class 1 Dist USD | IE00B3ZKBR99 | 364.815.791 | 5.387.164.136 |
| Robeco BP Global Premium Equities D EUR | LU0203975437 | 362.566.927 | 6.760.666.424 |
| HSBC Global Funds ICAV - Global Corporate Bond UCITS ETF SCH | IE00BFMN8962 | 361.676.227 | 3.176.850.202 |
| iShares $ Treasury Bond 0-1yr UCITS ETF USD (Acc) | IE00BGSF1X88 | 351.703.305 | 21.212.512.115 |
| Vanguard European Stock Index Fund - USD Acc | IE0002639551 | 350.677.140 | 6.489.419.492 |
| iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) | IE00BP3QZB59 | 346.024.301 | 4.849.744.377 |
| iShares Swiss Dividend ETF (CH) | CH0237935637 | 339.629.703 | 6.976.471.531 |
| WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF - USD Acc | IE000KHX9DX6 | 338.974.724 | 566.149.224 |
| Schroder International Selection Fund Securitised Credit A Accumulation USD | LU1662754586 | 337.312.054 | 4.325.896.942 |
| R-co Valor C EUR | FR0011253624 | 332.461.054 | 10.366.977.256 |
| Amundi Core MSCI Emerging Markets Swap UCITS ETF Acc | LU2573967036 | 329.454.290 | 7.637.318.928 |
| DB Growth SAA (EUR) SC | LU2132882965 | 329.359.788 | 3.539.504.897 |
| Nordea 2 - BetaPlus Enhanced Emerging Markets Sustainable Equity Fund - BI - EUR | LU2206802238 | 326.772.907 | 3.032.653.719 |
| iShares € High Yield Corp Bond ESG SRI UCITS ETF EUR (Acc) | IE00BJK55C48 | 326.772.176 | 4.238.572.390 |
| iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) | IE00BP3QZ825 | 309.970.346 | 3.327.551.225 |
Fonds mit den größten Abflüssen
| Fondsname | ISIN | Mittelabflüsse Januar 2026 | Fondsvolumen Januar 2026 |
|---|---|---|---|
| State Street Global Treasury 1-10 Year Bond Index Fund I EUR Portfolio Hedged Distributing | LU2014366301 | -6.073.398.870 | 718.713.846 |
| BlackRock ICS Euro Liquidity Fund Core Acc Accu EUR | IE0005023910 | -2.603.394.103 | 71.228.703.337 |
| Pareto SICAV - Pareto Nordic Corporate Bond C | LU0922130561 | -1.099.489.533 | 19.393.827.426 |
| abrdn Liquidity Fund (Lux) - Sterling Fund, A-2 Acc GBP Shares | LU0049015760 | -941.085.028 | 17.601.906.361 |
| BNP PARIBAS INSTICASH EUR 1D LVNAV Classic Capitalisation | LU0167237543 | -922.241.941 | 31.705.790.563 |
| Pictet - Short-Term Money Market USD - P | LU0128496485 | -779.785.878 | 9.218.373.921 |
| BlackRock ICS Sterling Liquid Environmentally Aware Fund Premier Acc Accu GBP | IE00BKC9GJ54 | -682.560.858 | 11.432.239.764 |
| Raiffeisen Futura - Swiss Stock A CHF | CH0011980981 | -651.204.062 | 1.996.308.333 |
| BNP PARIBAS INSTICASH USD 1D LVNAV I Distribution Distribution | LU0212992357 | -609.535.730 | 10.352.988.117 |
| Swisscanto (CH) Silver ETF EA CHF | CH0183135976 | -600.018.431 | 8.784.816.466 |
| AB FCP I American Income Portfolio Class A | LU0044957727 | -566.727.661 | 19.793.573.090 |
| Fundsmith Equity Fund T Accumulation Shares | GB00B4Q5X527 | -559.351.163 | 15.089.769.040 |
| JPMorgan Investment Funds - Europe Select Equity Fund A (acc) - EUR | LU0079556006 | -547.760.232 | 2.339.427.413 |
| Morgan Stanley Investment Funds Global Brands Fund - A | LU0119620416 | -515.808.464 | 13.013.731.552 |
| Amundi Bloomberg Equal-weight Commodity ex-Agriculture UCITS ETF Acc | LU1829218749 | -499.375.825 | 1.526.153.507 |
| Franklin FTSE China UCITS ETF | IE00BHZRR147 | -459.387.440 | 1.347.324.606 |
| Swisscanto (CH) Money Market Fund Responsible Opportunities CHF NT CHF | CH0394628066 | -453.512.434 | 1.639.379.512 |
| JPMorgan Funds - EU Government Bond Fund C (acc) - EUR | LU0355583906 | -450.827.707 | 3.928.248.020 |
| Dimensional Global Core Equity Fund EUR Acc | IE00B2PC0260 | -447.188.900 | 7.591.407.003 |
| JPMorgan ETFs (Ireland) ICAV - Global Research Enhanced Index Equity Active UCITS ETF - USD (acc) | IE00BF4G6Y48 | -440.357.198 | 8.192.962.931 |
| State Street GBP Liquidity LVNAV Fund Institutional Shares | IE0003410440 | -439.345.754 | 13.943.134.609 |
| Pictet CH - Short-Term Money Market CHF - P dy | CH0011292312 | -410.705.329 | 5.018.284.962 |
| Morgan Stanley Investment Funds Global Opportunity Fund AH (EUR) | LU0552385618 | -407.969.444 | 11.561.465.625 |
| Goldman Sachs Japan Equity Partners Portfolio Class R Shares (Acc.) (EUR-Hedged) (Snap) | LU1231169415 | -370.241.035 | 2.300.470.978 |
| Flossbach von Storch SICAV - Multiple Opportunities R | LU0323578657 | -364.087.583 | 23.414.076.203 |
| Eurizon Fund - Bond EUR Medium Term LTE R EUR Accumulation | LU0012017942 | -338.064.906 | 1.676.302.839 |
| Flossbach von Storch - Multiple Opportunities II R | LU0952573482 | -328.621.689 | 9.613.095.344 |
| UBS (Irl) ETF plc - UBS MSCI Australia UCITS ETF, Klasse AUD acc | IE00BD4TY451 | -317.644.249 | 422.392.056 |
| State Street EUR Liquidity LVNAV Fund Institutional Accumulating | IE00B1XG4871 | -313.960.354 | 19.434.754.236 |
| First Sentier Investors ICVC - Stewart Investors Asia Pacific Leaders Fund Class B (Accumulation) GBP | GB0033874768 | -312.956.832 | 4.651.171.410 |
| iShares $ Treasury Bond 20+yr UCITS ETF USD (Dist) | IE00BSKRJZ44 | -305.439.926 | 4.443.990.629 |
| iShares Listed Private Equity UCITS ETF USD (Dist) | IE00B1TXHL60 | -296.146.848 | 935.657.788 |
| AMUNDI FUNDS EUROLAND EQUITY - A USD | LU1883303809 | -295.939.922 | 4.317.524.769 |
| JPMorgan Liquidity Funds - USD Standard Money Market VNAV Fund A (acc) | LU0011815304 | -292.695.470 | 16.864.865.273 |
| Eurizon Fund - Cash EUR R EUR Accumulation | LU0042866854 | -291.292.380 | 1.382.735.790 |
| iShares MSCI China UCITS ETF USD (Acc) | IE00BJ5JPG56 | -290.230.711 | 3.749.939.277 |
| CM-AM MONEPLUS RC | FR0013354230 | -277.516.426 | 11.262.263.677 |
| iShares € Govt Bond 1-3yr UCITS ETF EUR (Dist) | IE00B14X4Q57 | -274.861.770 | 1.788.295.324 |
| GROUPAMA GLOBAL ACTIVE EQUITY ZD EUR | FR0000097156 | -273.005.332 | 2.741.525.652 |
| Eurizon Fund II - Euro Bond R EUR Accumulation | LU0367640660 | -270.753.909 | 7.301.067.784 |
| JPMorgan Funds - America Equity Fund - JPM America Equity A (dist) - USD | LU0053666078 | -269.227.697 | 6.757.279.116 |
| KBC Renta Czechrenta Responsible Investing Capitalisation | LU0095279401 | -267.087.670 | 622.053.166 |
| iShares $ Corp Bond UCITS ETF USD (Dist) | IE0032895942 | -260.238.789 | 7.347.236.769 |
| Pictet - Digital - P USD | LU0101692670 | -257.014.924 | 3.744.705.027 |
| JPMorgan Funds - Emerging Markets Sustainable Equity Fund C (acc) - EUR | LU2051469463 | -255.285.318 | 800.519.849 |
| JPMorgan Investment Funds - Global Select Equity Fund A (acc) - USD | LU0070217475 | -253.204.819 | 7.755.344.170 |
| Deka-ImmobilienEuropa | DE0009809566 | -251.265.531 | 18.218.623.774 |
| AB FCP I Global High Yield Portfolio Class A | LU0081336892 | -250.264.014 | 11.482.642.364 |
| UBS (Irl) Select Money Market Fund - US Treasury Capital (Dist.) | IE00BGCRWR17 | -248.592.171 | 2.201.063.268 |
| JPMorgan Investment Funds - US Select Equity Fund A (acc) - USD | LU0070214290 | -245.801.346 | 8.165.479.839 |
| DWS Invest Euro High Yield Corporates LC | LU0616839501 | -244.077.869 | 2.720.218.977 |
| Robeco QI Emerging Markets Active Equities D EUR | LU0329355670 | -237.456.068 | 5.106.059.399 |
| iShares MSCI World Information Technology Sector Advanced UCITS ETF USD (Dist) | IE00BJ5JNY98 | -229.006.155 | 670.587.032 |
| Amundi US Treasury Bond 7-10Y UCITS ETF Dist | LU1407888053 | -224.602.321 | 1.158.829.353 |
| Pictet CH Institutional - Emerging Markets Tracker - Z0 CHF | CH1278250613 | -224.363.854 | 3.503.852.502 |
| Goldman Sachs Europe CORE® Equity Portfolio Base Shares | LU0102219945 | -223.695.586 | 6.022.277.541 |
| UBS (Irl) Select Money Market Fund - EUR, Klasse S (Dist.) | IE00BWWCR400 | -223.597.034 | 2.846.321.295 |
| Goldman Sachs US Dollar Credit - R Cap EUR (hedged i) | LU1431483780 | -220.115.293 | 3.404.374.364 |
| Swisscanto (CH) IPF III Index Equity Fund MSCI® World ex Switzerland ASTT CHF | CH0133930260 | -215.651.970 | 5.741.804.602 |
| Natixis AM Funds - Ostrum SRI Euro Aggregate RE/A (EUR) | LU0935224195 | -215.361.751 | 196.211.231 |
| Baillie Gifford Worldwide China A Shares Growth Fund B EUR Acc | IE00BJCZ3N92 | -209.488.698 | 143.586.589 |
| Pictet - Water - P EUR | LU0104884860 | -204.119.645 | 6.924.637.917 |
| Allianz Best Styles US Equity - AT (H2-EUR) - EUR | LU0933100983 | -200.959.150 | 3.102.661.938 |
| iShares Developed Real Estate Index Fund (IE) Institutional Distributing EUR | IE00B7F1RC73 | -198.687.510 | 1.317.040.886 |
| iShares Core € Corp Bond UCITS ETF EUR (Dist) | IE00B3F81R35 | -196.397.351 | 14.083.453.857 |
| KraneShares CSI China Internet UCITS ETF USD Klasse | IE00BFXR7892 | -193.059.091 | 847.712.846 |
| Zurich Invest Institutional Funds - ZIF Wandelanleihen Global A1 | CH0026033487 | -192.931.439 | 390.406.445 |
| Guinness Global Equity Income Fund D EUR Dist | IE00B66B5L40 | -192.601.132 | 5.894.311.976 |
| UniEuroRenta | DE0008491069 | -186.714.574 | 5.833.631.875 |
| AMUNDI S&P 500 Equal Weight ESG UCITS ETF Acc | IE000LAP5Z18 | -185.980.765 | 1.965.925.619 |
| Brown Advisory US Sustainable Growth Fund Dollar Class A Dis | IE00BF1T6M41 | -185.137.684 | 2.520.034.590 |
| Loomis Sayles U.S. Growth Equity Fund R/A (USD) | LU1429558221 | -183.187.469 | 5.144.273.107 |
| Amundi S&P World Communication Services Screened UCITS ETF Acc | IE000EFHIFG3 | -173.204.638 | 277.004.902 |
| BNP Paribas Funds Inclusive Growth N Capitalisation | LU1165136505 | -171.618.743 | 484.584.012 |
| Goldman Sachs Funds VI - Liquid Euro - A Cap EUR | LU0147323579 | -171.077.297 | 3.869.741.006 |
| Schoellerbank Vorsorgefonds A | AT0000902424 | -170.572.144 | 193.250.203 |
| Pictet - Global Megatrend Selection - R EUR | LU0391944815 | -168.862.611 | 9.014.115.512 |
| abrdn Liquidity Fund (Lux) - US Dollar Fund, A-2 Acc USD Shares | LU0049014870 | -168.491.027 | 2.722.809.050 |
| Schroder International Selection Fund QEP Global Quality A Accumulation EUR | LU0323591833 | -167.065.490 | 342.286.839 |
| Lord Abbett Short Duration Income Fund - Class Z EUR (Hedged) | IE00BJ7BP819 | -165.134.080 | 5.714.972.142 |
| iShares € High Yield Corp Bond UCITS ETF EUR (Dist) | IE00B66F4759 | -165.064.808 | 7.967.583.267 |
| Goldman Sachs Emerging Markets Debt (Hard Currency) - P Cap EUR (hedged i) | LU0546915058 | -164.677.142 | 4.562.328.831 |
| L&G Multi-Strategy Enhanced Commodities UCITS ETF USD Accumulating ETF | IE00BFXR6159 | -163.852.903 | 1.934.499.866 |
| UNIQA World Selection (A) | AT0000743281 | -163.622.604 | 428.289.656 |
| Schroder International Selection Fund Global Gold A Accumulation EUR Hedged | LU1223083087 | -162.478.079 | 1.909.882.267 |
| Deka Portfolio ESG Globale Aktien | LU0133819333 | -160.571.597 | 771.459.623 |
| Swisscanto (CH) Index Bond Fund Australia Govt. ST | CH0302469082 | -158.030.014 | 438.356.541 |
| AXA Court Terme A Capitalisation EUR | FR0000288946 | -156.393.471 | 4.866.179.040 |
| Fundsmith SICAV - Fundsmith Equity Fund - Euro T Class Shares | LU0690375182 | -154.440.801 | 5.793.256.900 |
| iShares Core MSCI Japan IMI UCITS ETF USD | IE00B4L5YX21 | -151.544.646 | 6.460.945.501 |
| AXA WF ACT Biodiversity A (H) Capitalisation EUR | LU2429084655 | -150.950.632 | 49.443.628 |
| GROUPAMA EURO FINANCIAL DEBT NC EUR | FR0013259181 | -150.175.711 | 345.545.932 |
| UniImmo: Europa | DE0009805515 | -150.095.854 | 11.109.688.644 |
| Invesco US Senior Loan Fund HH (CHF hedged) Accumulation - CHF | LU0704905529 | -149.940.553 | 4.093.950.338 |
| iShares MSCI USA Screened UCITS ETF USD (Acc) | IE00BFNM3G45 | -147.671.443 | 15.874.508.752 |
| Goldman Sachs India Equity Portfolio Base Shares | LU0333810009 | -146.661.225 | 3.709.428.277 |
| VEGA Court Terme Dynamique R/C EUR | FR0010078279 | -146.072.882 | 435.079.164 |
| iShares MSCI World CTB Enhanced ESG UCITS ETF - Hedged EUR Accu | IE000R3K9FF7 | -145.148.001 | 5.541.173.795 |
| Morgan Stanley Investment Funds Asia Opportunity Fund AH (EUR) | LU1378879248 | -144.961.403 | 2.395.138.788 |
| Schroder Special Situations Fund Sterling Liquidity Plus IS Distribution GBP | LU1076531554 | -144.089.983 | 2.840.768.393 |