German wealth managers have mixed fortunes running funds

German wealth managers might be skilled fund managers, according to figures on funds they have launched, but they seem to have struggled to raise money, and have largely not tapped into the institutional market, according to their trade association.

Andreas Gruenewald, head of the Verband unabhaengiger Vermoegensverwalter Deutschland (Association of independent wealth managers), said investors looked for his member firms for their independence and investment skills.

Figures from the VuV on funds launched by German wealth managers seemed to support this.

Between 2009 and last year the 673 funds made 15.61% on average, with aggressive funds making 27.5%, balanced 22.6% and defensive 8.75%.

“The field is developing but you must remember it is not very old,” Gruenewald said.

Maybe partly for this reason the group of funds is of very mixed size.

Around one quarter of them have less than €10m, and only 27 have more than €1bn.

“Most of the funds are not in the focus area of institutional investors,” according to VuV material accompanying the talk its head gave to Fonds Kongress in Mannheim on Wednesday.

 

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