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It’s Tough to Invest in Germany, Even for a German-Focused Fund

  • Flagship fund sees only 5 of the 30 DAX stocks as clear buys
  • Germany is suffering from structural problems, Albrecht says
German Economic Reversal Piles Pressure on Chancellor Merkel for Stimulus
Photographer: Alex Kraus/Bloomberg

German equities are difficult to invest in right now, with things likely to get worse before getting better, according to the manager of a 4.9 billion-euro ($5.4 billion) fund at Deutsche Bank’s DWS unit.

As Europe’s largest economy struggles, Tim Albrecht, who manages 14.2 billion euros in assets including the flagship fund DWS Deutschland, is pessimistic. While his fund is obliged to invest in German stocks by design, he wouldn’t offer a short-term buy recommendation on the country’s stock market right now, he said in an interview.