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Asset Manager Survey 2024: What are the biggest challenges for foreign fund managers in Germany?

Client-specific requirements (25%), Germany’s decentralised structure with its various financial centres (19%) as well as fund information in German and access to distribution partners (18% each) are the biggest challenges for foreign investment companies in the German market. Fund-related regulation (9%) and recruiting of qualified staff (7%), on the other hand, pose fewer hurdles.

Only three out of ten fund managers plan to offer more so-called “article 8 funds” by the end of this year, but only 15% will increase their offering of article 9 or impact funds.

The proportion of women has increased at half of the foreign fund houses, while it has not changed for 43%.

Four years after the outbreak of the COVID pandemic, the rules for working from home have changed. Three quarters of respondents are once again working more days from the office than from home.

These are the key findings of the annual online survey “Biggest challenges for foreign fund managers in the German market”, conducted by Gerle Financial Communications, a specialised communications consultancy for the financial services sector. 28 representatives from foreign fund companies, external sales representatives (Third Party Marketers) and service providers for the fund industry took part in the survey in March 2024. It was the fifth survey of its kind. (more…)

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Brexit update: What does Liz Truss’ nomination mean for the British financial industry?

Liz Truss’ victory celebration as the new Tory party leader and thus new Prime Minister of the United Kingdom will be short. The UK is facing major problems in the coming weeks – the consequences of Brexit and the controversial Northern Ireland Protocol are just one of them. And what can the financial sector on the island expect from the former foreign minister post-Brexit?

His – then somehow surprising, if self-inflicted and laughable (Hasta la vista, baby!) – exit after two years and 348 days in office make Boris Johnson one of the shortest serving prime ministers in Britain’s recent history. Liz Truss, his successor as leader of the ruling Conservative Party and new head of government in the United Kingdom, could face an even shorter term. The next general election in the UK must take place in January 2025 at the latest. So Truss does not have much time to turn the tide for her party and the, more than any other G7 nation, crisis-ridden United Kingdom.

Truss cannot hope for a grace period in her new office: Already in October, energy bills for private households will rise by 80 per cent and for some companies by up to 600 per cent. Inflation is expected to exceed 13 per cent and possibly even 22 per cent early next year. Government debt has reached almost 96 per cent of GDP has already reached a level that makes all election campaign promises (tax cuts) rather unlikely.

Both Truss and her last rival for the post of party leader, ex-Chancellor Rishi Sunak, are supporters of Brexit. In the internal contest for the post at No. 10 Downing Street, which Truss won with 57.4 per cent of the votes cast, Britain’s exit from the EU hardly played a role. But that can change quickly in view of the ongoing problems around the Northern Ireland Protocol. And what does Truss’s victory mean for the British financial industry, which has been waiting for an Equivalence Agreement with the European Union waiting?

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How digital communication can help you to get a better brand awareness and direct customer acquisition

The question “If you’re not in front of the client, how do you make sure that you are even in the conversation?” has become essential for salespeople over the past two years. The answer is “digital communication”: creating and marketing high-quality content in digital formats are key to raising awareness of one’s brand, attracting new clients and retaining existing ones, even if face-to-face presence is not required anymore.

What smaller asset managers in particular need to look out for to make themselves heard in the crush of all those social media posts and webinars, Hagen Gerle explains in the following article for FondsTrends, the information platform of Hauck & Aufhäuser Fund Services PricewaterhouseCoopers Luxembourg and CURE Intelligence about current and future-oriented trends and topics in the fund business.

There really are still some new asset managers who think they can get a personal appointment with the investor’s board in these times,” a sales expert told me on the phone the other day. The complaint sounds familiar to salespeople: Some investment houses still hope to continue their old model, i.e.: participation in investment conferences and personal visits to investors and distribution partners all over the country. But those days are gone.

The alternative, which also seems to have arrived in asset management, is called digital communication. However, in order to be noticed in the throng of social media posts, videos, webinars and online conferences, smaller investment houses in particular need to pay attention to three points: Focusing on a target group, addressing this clientele with relevant content and using fewer but the right channels.

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Read more about the article Interview with Norman Wirth, Managing Director of German broker association AfW, about the consequences of the German federal election
Fotograf: Andreas Klingberg für AfW Berlin

Interview with Norman Wirth, Managing Director of German broker association AfW, about the consequences of the German federal election

Germany has voted - but what does the result mean for the life insurance industry and pension provision as a whole? On behalf of our client Standard Life Versicherung, we…

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Survey: The biggest challenges for foreign fund companies in Germany in 2021

Germany’s decentralised structure with its different financial centres, access to distribution partners, fund-related regulation and Working from Home (WfH) as well as specific requirements from clients are the biggest challenges for foreign fund companies in the German market. Compared to the respective home markets of the asset managers, regulation in Germany causes considerably more work. These are the main findings of the survey “What hurdles do foreign fund houses have to overcome in the German market?” – the second after 2020 – which was conducted by the specialised communications consultancy Gerle Financial Communications (GFC).

Representatives of 18 companies that work for or provide services to foreign fund houses, mainly in Sales, took part in the online survey in February and March of this year. Participating firms came from Europe (twelve firms), North and South America (five) and Asia (one firm). Eight of the participants (44%) have been present on the German market for more than five years, three (17%) between three and five and four (22%) between one and three years. Three companies (17%) have only become active on the German market in the past twelve months. (more…)

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