GERMANYA EUROMONEY SURVEY – June 1996AN ATTRACTIVE INVESTMENTIncreasingly – if belatedly – the international investment community is recognizing that the German Pfandbrief is an instrument which few institutions can afford to overlook. At the most basic level, the size of the market, with Dm1.258 trillion outstanding at the end of December 1995, means that the Pfandbrief now represents the third largest individual bond segment outside the US. Investors in the UK, for example, may be surprised to learn that the Pfandbrief market is now more than twice the size of the British government bond (Gilt) market. |
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