German funds are falling behind

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Jan

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FRANKFURT. The award-equity funds specializing in foreign investment companies scored particularly for asset managers and fund of funds since the stock markets have turned in the spring of 2009. While the German houses such as DWS or Deka are still the undisputed front in terms of assets under management. However, newly created money is more and more in products from specialists like Carmignac, the British Schroders or the world’s largest asset manager Blackrock from the U.S..

In this country in mutual funds in total assets of 552 billion euro will be managed. Foreign houses manage by the numbers of the fund association BVI and estimates just 15 percent of them, the rest being managed by local addresses, such as DWS, Allianz Global Investors, Union Investment and Deka.

Last year, the specialized primarily on dividend track foreigners could disproportionately collect much new capital. She also suffered – with the exception of individual vendors such as Pioneer – not among the massive withdrawals from money market funds, which are offered mainly by the national stores. According to an estimate of Handelsblatt, the domestic investors invested only in the mutual funds of the known major foreign addresses, more than five billion euros. From the products of the four national fund houses, however, investors moved to the end of November 2009, from around ten billion euros.

This year, the vendors expect their strength, the selection of attractive stock for so-called actively managed fund would be in demand even more for 2009. "Investors still have parked large sums in the money market. According to the current correction they will see where they can get more yield," says Andrei Brodnik, Germany boss of Blackrock. "2010 will be primarily of European equities funds and be in demand for Latin American securities." Also Peter Schwicht, Germany Head of JP Morgan Asset Management: "For 2010 we expect to see positive sales figures, not least because the private rebuild shares engagement." For lack of alternatives with attractive dividend yields are likely to track the funds will demand situation, said Norbert Welp, sales manager at Pioneer Germany. Star manager Carmignac example, expects an exciting time for U.S. and emerging markets stocks, which are to receive in its global portfolio, usually more weight.

In addition, the vendor still expect equity inflows in mixing and pension funds and market neutral strategies. "We believe that returning the majority of customers about defensive strategies in the market. This is achieved safely balanced funds," said Achim Kussner, Germany Head of Schroders. Brodnik recognizes "great interest in market-neutral strategies, asset managers and fund of funds manager to diversify investment risks to take into account.

On self-esteem lack the dynamic aliens: By 2012, the assets of Carmignac wants his company managed to increase again by half to 50 billion euros. Germany was in the process of one of the most important countries, "he says. Fidelity Deutschalnd boss Christian Wrede said – albeit with a smile – even of market leadership. Fidelity is one of the few houses on the market shares, which aim to strengthen the management of fund accounts, a second source to "depend less on the volatile markets to be." Equity products to date from around 85 percent of the capital. Fidelity and some other highly aktienlastige providers such as Franklin Templeton haben 2008 suffered greatly from the decline of the markets. Their assets under management in mutual funds had nearly halved.