German firms knock US giants down “quality” league

Ranking_increaseGerman asset managers have dislodged US providers in a ranking of large firms with funds distributed in Germany.

Home-grown firm Metzler spearheaded the assault, with a “meteoric” rise from 32nd place in 2017 to joint second this year.

Union Investment ranked seventh and Allianz Global Investors tenth. Along with Deka, there were four German managers in the large-managers category.

Berlin-based Scope Analysis carried out the ‘Asset manager ranking Q1 2018’, which covers 5,900 Ucits funds from 313 asset managers that have at least 25 funds distributed in Germany.

The peer-group ranking reflects “fund quality”, which among other things means the long-term earning power and stability of fund performance as well as the risk of loss and timing risk, Scope said.

In 2017 Deka was the only German firm in Scope’s table – just, at tenth position. This year the firm has moved into sixth place while five US asset managers – Goldman Sachs Asset Management, State Street, Legg Mason, JP Morgan and Invesco – fell out of the top ten.

Scope said the increased presence of German managers in the top ten was significant because the quantitative ranking tends to favour foreign managers, which generally allow only a fraction of their funds – and their most successful – to be distributed in Germany.

German managers, on the other hand, are ranked on their entire product offering.

The number one position was taken by Austrian fund manager Kepler Fonds.

Scope Analysis top ten “large” managers

   1.  Kepler Fonds
   2.  Investec
   2.  Metzler
   4.  Robeco
   5.  Alliance Bernstein
   6.  Deka
   7.  Union Investment
   8.  Fidelity
   9.  Vontobel AM
   10.  Allianz GI

Scope Analysis top ten “small” managers

   1.  DNCA Finance
   2.  Sparinvest
   3.  Comgest
   4.  Wellington Management
   5.  Degroof Petercam AM
   6.  T. Rowe Price
   7.  Skag
   8.  Meag
   9.  JO Hambro IM
   10.  Vanguard

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