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Home > Business/Finance > Financial Services > Fund Management
Fund supermarkets in Germany 2007
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| Published Date:
December 2007
Published By:
Datamonitor
Page Count:
29
Order Code:
R313-29419
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- OVERVIEW
- Catalyst
- Summary
- EXECUTIVE SUMMARY
- Germany's fund supermarket sector continues to expand to meet the demands of a growing potential customer base
- Germany's retail mutual fund market reflects strong growth
- Recent legislation on collective investments supports product innovation and enhances investor protection
- Direct banks are among the leading fund supermarkets
- Fund supermarkets are expanding beyond their traditional business activity
- Table of Contents
- Table of figures
- Table of tables
- MARKET BACKGROUND
- Germany's retail mutual fund market reflects strong growth
- Germany's mutual fund industry is worth EUR1,263 billion
- DISTRIBUTION DYNAMICS
- Retail banks dominate the distribution of mutual funds
- Close to half of all mutual fund assets under management is attributed to retail banks
- Fund supermarket clients demand control and accessibility
- REGULATION
- Recent legislation on collective investments supports product innovation and enhances investor protection
- Asset management companies may establish unit classes within funds
- Upcoming EU legislation (UCITS directive and MiFID) facilitates market development and enhances consumer protection
- MiFID allows fund managers and distributors improved flexibility, but also introduces new obligations
- The planned revision of the Investment Act will relax regulatory restrictions
- DISTRIBUTOR PROFILES
- Direct banks are among the leading fund supermarkets
- Comdirect offers one of the broadest fund ranges
- Pricing keeps pace with the competition and helps build customer relationships
- Comdirect serves both B2C and B2B markets
- Services extend to banking and advice
- DAB bank focuses on the retail market
- Despite its retail emphasis, DAB also facilitates intermediary trading
- DAB also delivers banking and adivce
- Cortal Consors markets to individual investors
- Investors have access to banking products and services
- FondsDISCOUNT.de serves the needs of experienced private investors
- FondsDISCOUNT competes strongly on price
- The product range extends beyond investment funds
- Competition is reducing fees for investors
- DISTRIBUTION STRATEGIES
- Fund supermarkets are expanding beyond their traditional business activity
- Branding is as important to fund supermarkets as it is to end investors
- Fund supermarkets are pursuing growth by offering banking services and investing in bricks and mortar
- Intermediaries will require dedicated services and enhanced platform capability
- Marketing aimed at both individual investors and intermediaries should emphasize the concept of partnering for growth
- Leading supermarkets are helping intermediaries to grow their businesses
- Fund managers will continue to rely on direct sales, although supermarkets represent a key element of heir distribution strategies
- Demographic shifts, alternative investment structures and cost-driven technological advances will impact fund supermarkets' growth
- Population shifts and a more engaged investment market will help sustain growth
- Structured products offer fund supermarkets opportunities for further diversification
- Investment in technology can boost both revenue and profit
- APPENDIX
- Data
- Definitions
- Asset manager / Asset management company
- Bank
- Collective Investment Scheme
- Exchange-Traded Fund
- Fund of funds
- Fund supermarket
- Hedge fund
- Non-retail market
- Retail market
- Structured products
- UCITS
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Tables
- Table 1: Comparative overview of selected German fund supermarkets
- Table 2: Total mutual funds under management segmented by investor, EURm, 2002-2006
- Table 3: Retail savings & investment asset balances, EURm, 2002-2006
- Table 4: Retail mutual funds under management segmented by type of fund, EURm, 2002-2006
- Table 5: Total mutual fund assets segmented by distribution channel, Dec 2006
- List of Figures
- Figure 1: Retail investors account for an increasing proportion of mutual funds in Germany
- Figure 2: Mutual funds represent one-fifth of household portfolios
- Figure 3: Balanced funds and bond funds together account for over half of household mutual fund portfolios
- Figure 4: Retail banks dominated Germany's mutual fund sector in 2006
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