Market Guide: Retail Investment Market in Denmark 2006
Datamonitor
May 16, 2007 28 Pages - SKU: DFMN1495863
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Countries covered: Denmark
Introduction
This report is most appropriate for companies looking for an overview of the retail investments markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's Retail Savings and Investments Interactive Database 2006.
Scope
Presents competitor market data for retail banks and mutual fund companies; Assesses regulatory barriers and opportunities; 5 years historic data from 2001-5 and 5 year forecast to 2010.
Highlights
Within Danish household portfolios, deposits represent the largest asset class. However, between 2001 and 2005, the proportional allocation of household assets to mutual funds increased steadily. During this five-year period, the total retail savings and investments market expanded at a compound annual rate of 12.9%. Executive Order no. 1445 of December 21st 2005 requires foreign investment undertakings to submit to the DFSA their fund rules or articles of association, prospectus, statement of planned marketing and information on the taxation regulations applicable to Danish unit-holders of the investment undertaking. Danske Bank's asset management arm, Danske Invest, leads the Danish mutual funds sector. Danske Invest offers 6 unit trusts divided into more than 70 funds. It has a staff of 40 and its funds are distributed through Danske Bank branches. Danske Invest also has distribution agreements with other banks, pension companies and unit-link companies.
Reasons to Purchase
Get an overview of the retail investment market, including past growth and forecast growth; Assess regulatory barriers and opportunities affecting retail investments in this country; Analyze competition from retail banks and mutual fund companies.
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- Overview
- Catalyst
- Summary
- Executive Summary
- The Danish retail savings and investments sector has grown at a compound annual rate of 12.9% in the last 5 years; however a reduced rate of growth is expected between 2006 and 2010
- Household portfolios will see increased allocations to mutual funds and equities between 2006 and 2010
- Legislation aimed at improving investor confidence and consumer protection imposes additional obligations on providers
- The leading Danish banks and asset management companies control more than 70% of their respective markets
- The top two banks also lead the Danish mutual funds sector
- Table of Contents
- Table of figures
- Table of tables
- MARKET OVERVIEW
- Between 2001 and 2005, the Danish retail savings and investments market experienced compound annual growth of 12.9%, driven primarily by growth in mutual funds and equities
- Retail assets outstrip non-retail holdings in the deposits and mutual funds markets
- Deposits account for just under half of the Danish retail savings and investments market
- Since 2001, mutual funds have accounted for a growing proportion of household wealth
- MARKET FORECASTS
- Household portfolios will see increased allocations to mutual funds and equities between 2006 and 2010
- Mutual funds will continue to account for an increasing proportion of household wealth
- MARKET REGULATION
- Legislation aimed at improving investor confidence and consumer protection imposes additional obligations on providers
- The Danish Financial Supervisory Authority regulates the savings and investments sector
- For banks and investment companies, Basel II capital adequacy requirements imply additional investment in risk management expertise and in IT systems to calculate risk
- Anti-money laundering legislation implies an additional administrative burden for banks
- New legislation updates the regulations on collective investments and financial services providers
- Investment firms are subject to client money requirements
- Foreign collective undertakings are subject to DFSA control and require marketing approval
- Upcoming EU legislation (UCITS directive and MiFID) facilitates market development and enhances consumer protection
- COMPETITIVE MARKET STRUCTURE
- The leading Danish banks and asset management companies control more than 70% of their respective markets
- Domestic institutions comprise the largest segment of the Danish banking sector, by number
- The top 5 banks control 71% of the banking market, measured by total assets
- The top 5 asset managers control 78% of the mutual funds market, measured by assets under management
- MARKET LEADERS
- The top two banks also lead the Danish mutual funds sector
- Danske Bank & BG Bank lead the Danish banking sector; Danske Invest is the mutual funds market leader
- Nordea Bank trails the market leader in the Danish retail banking market; Nordea Invest ranks second in the mutual funds sector
- Jyske Bank ranks third among banks; Nykredit Portefolje Administration is the third largest asset manager
- FIH Group (Kaupthing Bank) is the fourth largest Danish bank by total assets; BankInvest ranks fourth among asset managers, by AuM
- Sydbank rounds out the banking market leaders; Investeringsforeningen RHAM Value Partner has the fifth-highest mutual funds market share
- APPENDIX
- Asset manager / Asset management company
- Bank
- Collective Investment Scheme
- Friendly society
- Fund of funds
- Hedge fund
- Investment company
- ISA
- Non-retail market
- Retail market
- SICAF
- SICAV
- UCITS
- Further reading
- Savings and Investments SPP
- Interactive Databases
- Reports
- Related Global Wealth Service SPP Reports
- Interactive Databases
- Market Reports
- Strategic Insight Reports
- Wealth Management Competitor Tracker
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Tables
- Table 1: Total Savings & Investments segmented by retail v institutional, DKKm, as at Dec 2005
- Table 2: Total Savings & Investments segmented by retail v institutional, in percentages, as at Dec 2005
- Table 3: Retail Savings & Investments, segmented by asset class, DKKm, as at Dec 2005
- Table 4: Retail Savings & Investments, segmented by asset class, DKKm, 2001 - 2005
- Table 5: Retail Savings & Investments, segmented by asset class, in percentages, 2001 - 2005
- Table 6: Retail Savings & Investments, segmented by asset class, DKKm, 2006 - 2010
- Table 7: Retail Savings & Investments, segmented by asset class, in percentages, 2006 - 2010
- Table 8: Number of banks segmented by type, as at Dec 2005
- Table 9: Top 5 banks by total assets, as at Dec 2005
- Table 10: Top 5 asset management companies by assets under management (AuM), as at Dec 2005
- List of Figures
- Figure 1: Retail assets account for more than half of deposits and mutual funds, but less than one-fifth of equity and bonds
- Figure 2: Deposits and mutual funds together account for roughly 80% of retail savings
- Figure 3: Deposits account for the single highest proportion of household assets, but the proportional value of mutual funds has been increasing
- Figure 4: The decline in household assets in deposits will be offset by increases in assets in mutual funds and equities
- Figure 5: Danish banks and savings banks account for 86% of the market, by number
- Figure 6: Danske Bank & BG Bank lead the banking sector, with a market share of 38%
- Figure 7: Danske Invest accounts for 24% of the mutual funds (investment associations) market
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