With bonds hardly yielding any interest anymore, now is the time for investors to move out of their comfort zone and enter the race for returns.
At least that is the view of many asset managers, who in the current economic climate have little choice but to convince their customers to make riskier investments. So what better time to celebrate the best performing among them.
At a state reception in Munich yesterday, the journal Elite Report and media partner Handelsblatt named the best 44 asset managers in the German-speaking countries. The team, with the help of auditors, analyzed 500 accounts containing total assets in the double-digit billion euros, evaluated about 800 real-life cases and examined corporate financial statements, awarding ratings to each institution.
Eight asset managers were honored for their outstanding performance. For the sixth time in a row, three banks achieved the highest number of points in the ranking: Berenberg Bank, a Hamburg-based private institution, Frankfurt’s BHF Bank – now owned by a group of investors headed by Leonhard Fischer, the chief executive of RHJ International – and Hamburger Sparkasse, Germany’s largest savings bank.
Three institutions achieved the highest possible score for the third time in 2014, Bremen Landesbank, the Liechtenstein private bank Centrum Bank, and Schoellerbank, a subsidiary of Bank Austria. Wergen & Partners, a non-bank Swiss portfolio manager, ranked among the top providers for the second time. Donner & Reuschel, a private bank, moved up in the ranking. These top banks are followed by a group of 23 asset managers, who were also given the highest award, “summa cum laude.”
“Competition begets quality,” said Hans-Kaspar von Schönfels, founder and publisher of Elite Report, referring to the stability of top-rated advisers. Still, the top echelon remains small in comparison to the number of providers analyzed. Elite Report rated only 12 percent of the 360 companies it analyzed.