US News BayernLB takes the € 100 billion mark with Asset Manager

09:20  11 january  2021
09:20  11 january  2021 Source:   t3n.de

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› Earnings performance in Central Areas & Others was largely marked by higher contributions for › Advanced structuring expertise in financing: structured asset finance and debt capital markets › BayernLB has an investor-friendly structure on the liabilities side with sufficient unsecured bonds in

Traditional asset managers such as BlackRock (BLK), BNY Mellon Asset Management (BK), and Franklin Resources (BEN) together make up 3.73% of the Financial Select Sector SPDR Fund (XLF). These funds have also expanded into private equity and hedge fund businesses.

(Bloomberg) - Bayern Invest, BayernLB's asset manager, is likely to have passed the € 100 billion mark in assets under management last year. With growth rates of around 30%, public funds in particular did well in 2020, as the new investment manager Daniel Kerbach said in a Bloomberg interview. In terms of profit, Bayern Invest lags behind other business areas of the Landesbank.

Although the numbers for the end of 2020 have not yet been determined, according to Kerbach, the assets under management were “probably” more than 100 billion euros, compared with a good 91 billion euros a year earlier. The net inflows in the first eleven months would have amounted to around 2 billion euros.

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BayernLB has already earned itself the unenviable accolade of becoming Germany's first bank to request help from the government bailout funds. On Friday it added a massive bailout package to its trophy shelf: a € 30 billion lifeline will be thrown to the ailing business. To restore it to health, Bavarian

Who is the largest asset manager ? How does asset management company make money? BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries. Simply put, asset management firms manage funds for individuals and companies.

After the recent significant growth in mutual funds of the asset manager, which is traditionally strongly oriented towards institutional investors, Kerbach sees further potential. "In the future, too, we want to grow in the double-digit percentage range every year with mutual funds, which are sold in the retail business, among others, by the DKB," he explained. “It also helps us that classic investments such as savings accounts or fixed-term deposits hardly generate any income.”

DKB, another BayernLB subsidiary, is one of the largest online banks in Germany in the private customer business. It is considered a pearl of earnings in the group. In 2019 it generated an pre-tax profit of 296 million euros, compared with 8 million euros at Bayern Invest. BayernLB plans to publish the 2020 figures at the end of March.

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§ Total discretionary Assets under Management (AUM) of the 500 managers included in the ranking amounted to US$ 93.8 trillion at the end of 2017, up 15.6% from the end of 2016. Median AUM was US$ 43.9 billion in 2017, up from US$ 38.6 billion last year. § BlackRock has retained its position as

Inditex SA, the world’s largest clothing retailer, joined the $ 100 billion club as this year’s 36 percent gain in the shares gave the Zara owner a market value enjoyed by only about 80 companies worldwide. The value of the Spanish retailer, whose brands also include Massimo Dutti and Bershka, surpassed

Kerbach refers to new products that are in great demand. "Last year we launched the sustainable ESG High Yield Euro retail fund, with which we were able to collect over 50 million euros within six weeks," he said. Further fund offers are planned for this year, which would also be aimed at private investors. "The Germans are not a people of shareholders, but the willingness to take risks is growing," explained Kerbach.

Verdopplung © Bloomberg Doubling

Kerbach expects good returns from stocks and bonds from emerging markets. The Dax with its export-oriented companies also offers opportunities. “Basically, we are slightly offensive with our asset allocation. We are slightly to medium overweight stocks, ”he said.

Meanwhile, he advises against investments in Bitcoins, which have recently increased in value. “In my opinion, these are speculative transactions with a high level of volatility,” said Kerbach. However, one can rely on the underlying technology Bitcoin with technology investments.

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Like Helaba, BayernLB is working on digital Schuldschein using a platform called VC Trade, which was developed by fintech company Value Concepts GmbH. That shielded Schuldschein from daily fluctuations in mark -to-market prices. Sales last year totaled € 35 billion , triple the figure in 2010.

Regarding employees, asset management firms can exploit the power of star managers as long as they take a few precautionary steps to manage star risk: Tie compensation to investment success or distribution success or ownership tie-in, and employ supporting managers to ensure continuity.

In a comparison of the asset managers of large Landesbanks, Bayern Invest is in the middle with around 100 billion euros. The Landesbank Baden-Württemberg most recently achieved assets under management of 80 billion euros with the LBBW Asset Management , while the Landesbank Hessen-Thüringen brought it to 160 billion euros with the Helaba Invest .

“The asset manager market is large and offers space for many players,” said Kerbach. In the savings bank sector, to which the Landesbanken belong, there have recently been discussions about closer cooperation and mergers in view of the many double structures.

Kerbach took over his position at Bayern Invest in December. Prior to that, he was Head of Investment at Merck Finck Private Bankers and Deputy CIO and Head of Asset Management at Bank Julius Baer in Zurich.

“I actively made the decision to leave Merck Finck. I wanted to work for a high-growth investor. That's what appeals to me about Bayern Invest, ”said Kerbach. Merck Finck from Munich, which belongs to Quintet Private Bank SA, was most recently merged with sister companies from other countries.

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