Suspicion of equities is widespread among Germany's pensioners. However, the attitude is less pronounced in the state of Hessen, home to the financial metropolis of Frankfurt, as well as the largest private cash fortunes in Germany. Inhabitants in Hessen each hold an average of EUR 48,000 in cash – more than twice the German average.
Several years of uninterrupted solid financial market returns have added to Germans' swelling fortunes, to the extent that the Germany's DAX index has almost doubled since the financial crisis. Nevertheless, the skepticism among the Germans remains -- a fact that has not escaped Jyske Bank's Head of Institutional Business in Germany, Thomas Brand.
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