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Main Consumer Goods & Retail Retailing Market Guide: Retail Investment Market in Germany 2006
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Market Guide: Retail Investment Market in Germany 2006

DateFeb, 2007
Pages47
Price / format€1814 / Electronic

€1 814 

Report Information | Custom-Tailored Research | Product Trade Lead


Abstract:
 This report is most appropriate for companies looking for an overview of the retail investments markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to our Retail Savings and Investments Interactive Database 2006.

Scope of this title:
Sizes retail deposits, mutual funds, equities and bonds; Presents competitor market data for retail banks and mutual fund companies; Assesses regulatory barriers and opportunities; 5 years historic data from 2001-5 and 5 year forecast to 2010

Highlights of this title:
In December 2005 one property fund was forced to temporarily suspend redemptions due to the reported poor performance of the property market, which sparked above-average redemptions. This encouraged debate on the reform of real estate funds and how to distinguish between open-ended real estate funds and other property investments such as REITS. During 2005, with the continued consolidation of the German banking sector, a total of 92 credit institutions ceased to operate, primarily as a result of mergers. However, 38 new institutions came on stream. In the main, these were investment companies, branches of foreign banks and securities trading banks. Proposed anti-money laundering legislation implies an additional administrative burden for banks. The upcoming legislation introduces new risk-based and customer-focused due diligence obligations in instances of either establishing or continuing a business relationship with a customer.

Reasons to order your copy:
- Get an overview of the retail investment market, including past growth and forecast growth
- Assess regulatory barriers and opportunities affecting retail investments in this country
- Analyze competition from retail banks and mutual fund companies.









Table of contents:
 Executive Summary - MARKET HIGHLIGHTS 4
Market overview 4
Market forecasts 4
Market regulation 4
Competitive market structure 5
Market leaders 5
Introduction 11
What is this report about? 11
Who is the target reader? 11
How to use this report 11

Chapter 1.

Market overview 12
Introduction 12
The retail market accounts for close to 60% of assets in deposits but less than 50% in all other asset classes 13
Close to 60% of all retail investments is held in deposits 14
Between 2003 and 2004, the composition of retail savings and investment portfolios was stable
however in 2005, deposits were substituted by mutual funds and equities 16

Chapter 2.

Market forecasts 18
Introduction 18
Key findings 18
While deposits will continue to account for the majority of household wealth, the proportions held in mutual funds and equities will increase slightly 19

Chapter 3.

Market regulation 22
Introduction 22
Key findings 22
The Central Bank and the Federal Financial Supervisory Authority regulate the German financial services industry 23
Banks must adapt their accounting systems to meet new standards re: consolidated financial statements 24
For banks and investment companies, Basel II capital adequacy requirements imply additional investment in risk management expertise and in IT systems to calculate risk 24
Banks enjoy flexibility in the implementation of new requirements for risk management 25
Investment companies and asset management companies face additional prospectus requirements 25
Asset management companies may establish unit classes within funds 26
Implementation of the EU Prospective Directive promotes competition across borders among asset management companies 26
Upcoming EU legislation (UCITS directive and MiFID) facilitates market development and enhances consumer protection 26
Proposed anti-money laundering legislation implies an additional administrative burden for banks 27

Chapter 4.

Competitive market structure 29
Introduction 29
Key findings 29
The majority of banks in Germany are credit co-operatives 30
Banks distribute primarily through their branch networks, but telephone and Internet banking are available 32
The top five banks control 40% of the banking market, measured by total assets 33
The mutual funds industry is heavily concentrated - the top 5 companies control 79% of Assets under Management (AuM) 35
Over 78% of available mutual funds comprises securities funds 37
Competitors in securities trading include investment companies and other authorized institutions
outsourcing is a growing trend 38

Chapter 5.

Market leaders 39
Introduction 39
Key findings 39
Deutsche Bank leads the banking and mutual funds sectors 39
The HVB Group trails the market leader in the banking sector
it has the fifth largest asset management company 40
Dresdner Bank ranks third among banks
the Allianz Dresdner Global Investors Group is fourth among asset managers 41
Commerzbank AG is the fourth highest ranked bank by total assets 41
Landesbank Baden-Wurttemberg rounds out the top 5 banks 42
Union Group has the second largest share of mutual funds, by AuM 42
Deka Group ranks third among asset managers 43
APPENDIX 44
Definitions 44
Asset manager / Asset management company 44
Bank 44
Collective Investment Scheme 44
Friendly society 44
Fund of funds 44
Hedge fund 44
Investment company 44
Non-retail market 45
Retail market 45
UCITS 45
Further reading 45
Savings and Investments SPP 45
Interactive Databases 45
Reports 45
Related Global Wealth Service SPP Reports 46
Interactive Databases 46
Market Reports 46
Strategic Insight Reports 46
Wealth Management Competitor Tracker 46
SPP writing team

List of Tables
Table 1: Total Savings & Investments segmented by retail v institutional, EURm, as at Dec 2005 13
Table 2: Total Savings & Investments segmented by retail v institutional, in percentages, as at Dec 2005 14
Table 3: Retail Savings & Investments, segmented by asset class, EURm, as at Dec 2005 15
Table 4: Retail Savings & Investments, segmented by asset class, EURm, 2001 - 2005 17
Table 5: Retail Savings & Investments, segmented by asset class, in percentages, 2001 - 2005 17
Table 6: Retail Savings & Investments, segmented by asset class, EURm, 2006 - 2010 20
Table 7: Retail Savings & Investments, segmented by asset class, in percentages, 2006 - 2010 21
Table 8: Number of banks segmented by type, as at Dec 2005 31
Table 9: Top 5 banks by total assets, as at Dec 2005 34
Table 10: Top 5 Asset management companies by assets under management (AuM), as at Dec 2005 36
Table 11: Number of mutual funds, segmented by type, as at Dec 2005

List of Figures
Figure 1: Deposits account for close to half of total savings and investments in Germany in 2005 13
Figure 2: Deposits represent 58% of household savings, while mutual funds account for just under one-quarter 14
Figure 3: Deposits consistently account for the single highest proportion of household assets, followed by mutual funds 16
Figure 4: Over the next 5 years, the proportion of household wealth held in mutual funds and equities will increase slightly, at the expense of deposits 19
Figure 5: The co-operative sector dominates the German banking industry, by number 30
Figure 6: The banking sector is dominated by the leading banks and savings bank 33
Figure 7: The DWS Group managed one-quarter of all mutual funds as at December 2005 35
Figure 8: As at December 2005, equity funds represented 36% of mutual funds, by number of funds 37




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