Union Investment’s assets fall

Union Investment saw its assets under management fall to €170.3 billion at the end of last year, down from an all time high of €177.4 billion in the previous year.

Profits fell from €372 million to €266 million over the same time, while the business suffered outflows of €1.5 billion, compared with inflows of €8.7 billion in the previous year.

“We are satisfied with our performance last year because we continued to demonstrate our resilience despite the tough market conditions”, said Hans Joachim Reinke, chief executive officer.

Despite the fall in profits, Reinke said profits were the fourth highest in the company’s history.

Reinke also said investors were “mainly reacting to external factors such as Japan’s nuclear disaster” in March and the “slide in share prices starting in August, which was triggered by market participants’ nervousness in the wake of the sovereign debt crisis”.

©2012 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST