It may not always be uttered in the same breath as its European counterparts London and Paris, but the investment boutique industry in Frankfurt has quietly been gaining traction – and it’s time to sit up and take notice.

Hendrik Leber, who set up €3.2 billion value investment house Acatis in 1994, said: "The German asset management industry is under-rated, the British don't take us seriously, no one in the world knows there's an asset management industry."