Mein Name ist Hans, und ich hasse Aktien

Apparently German investors aren’t so fond of equities any more, according to Greenwich:

The worldwide decline in equity valuations in 2008 had a dramatic impact on institutional portfolios in Germany, shrinking equity allocations to historically low levels before recovering to some extent in 2009. Although a significant proportion of German institutions plan to increase their still-diminished equity allocations over the next three years, the results of Greenwich Associates’ 2009 German Investment Management Study reveal that a bigger share plans to leave equity allocations unchanged at their present size — a decision that could relegate equities to the status of a niche asset class in Germany for the foreseeable future.