There is a widespread, general distrust of equities among German pension savers. This tendency applies to a lesser extent in the federal state of Hessen, where the financial metropolis Frankfurt is located. Hessen is the German state with the largest capital holdings, valued at EUR 48,000 per capita. This is over twice the German average.
Solid returns over several years from financial markets have have contributed to the high level of Hessian wealth – and the leading German DAX index has doubled since the financial crisis. German skepticism remains nonetheless common. Thomas Brand, who is Head of Institutional business in Germany for the Danish bank Jyske Bank has also noticed this.
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