Market Guide: Retail Investment Market in Austria 2006

Published by: Datamonitor

Published: Jul. 6, 2007 - 29 Pages

Table of Contents

Overview

Catalyst

Summary

Executive Summary

The Austrian retail savings and investments sector has grown at a compound annual rate of 5.8% in the last 5 years; a similar rate of growth is expected between 2006 and 2010

Between 2001 and 2005, the Austrian retail savings and investments market experienced compound annual growth of 5.8%, driven primarily by growth in mutual funds and equities

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 Austrian banks and asset management companies control more than 90% and 60% of their markets, respectively

Banking groups also dominate the mutual funds sector

Table of Contents

Table of figures

Table of tables

MARKET OVERVIEW

Between 2001 and 2005, the Austrian retail savings and investments market experienced compound annual growth of 5.8%, driven primarily by growth in mutual funds and equities

Non-retail assets exceed retail holdings in all asset classes except for mutual funds

Deposits account for more than half of the Austrian retail savings and investments market

Since 2003, mutual funds and equities have accounted for a growing proportion of household wealth, primarily at the expense of deposits

MARKET FORECASTS

Household portfolios will see increased allocations to mutual funds and equities between 2006 and 2010

Between 2006 and 2010, growth in the market will be driven by retail investment in mutual funds and equity

MARKET REGULATION

Legislation aimed at improving investor confidence and consumer protection imposes additional obligations on providers

The Austrian Financial Market Authority (FMA) 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

Financial conglomerates face additional supervisory requirements

Legislative amendments augment the powers of the FMA

Banks and asset management companies must adjust their systems to provide for tax remittance

Recent legislation improves consumer and investor protection

Upcoming EU legislation (UCITS directive and MiFID) facilitates market development and enhances consumer protection

Anti-money laundering legislation implies an additional administrative burden for banks

COMPETITIVE MARKET STRUCTURE

The leading Austrian banks and asset management companies control more than 90% and 60% of their markets, respectively

Raiffeisen credit cooperatives comprise the largest segment of the Austrian banking sector, by number

The top 5 banks control 91% of the banking market, measured by total assets

The top 5 asset managers control 66% of the mutual funds market

Balanced funds represent the single largest percentage of Austrian mutual funds, by number

MARKET LEADERS

Banking groups also dominate the mutual funds sector

Bank Austria Creditanstalt AG leads the Austrian banking sector; Pioneer Investments Austria (formerly Capital Invest) ranks third in the mutual funds market

BAWAG PSK AG trails the market leader in the Austrian banking market; BAWAG PSK Invest ranks fifth in the mutual funds sector

Oberbank AG ranks third among banks, by total assets

Bank fur Tirol und Vorarlberg AG is the fourth largest Austrian bank by total assets

BKS Bank AG rounds out the banking market leaders

Raiffeisen Kapitalanlage-Gesellschaft m.b.H. leads the mutual funds market, by AuM

ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. (Erste Capital Management) is the second largest asset manager

Allianz Invest Kapitalanlagegesellschaft mbH has the fourth-highest mutual funds market share

APPENDIX

Asset manager / Asset management company

Asset allocation fund

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, EURm, 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, EURm, as at Dec 2005

Table 4: Retail Savings & Investments, segmented by asset class, EURm, 2001 - 2005

Table 5: Retail Savings & Investments, segmented by asset class, in percentages, 2001 - 2005

Table 6: Retail Savings & Investments, segmented by asset class, EURm, 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 mutual fund assets under management (AuM), as at Dec 2005

Table 11: Number of mutual funds, segmented by type, as at Dec 2005

List of Figures

Figure 1: Retail assets account for less than one-third of the total equity and bonds markets

Figure 2: Deposits and mutual funds together represent 82% of retail savings

Figure 3: At 11.5%, compound annual growth in retail equity holdings outstripped all other asset classes between 2001 and 2005

Figure 4: Mutual funds and equity will continue to account for increasing proportions of household savings

Figure 5: Credit co-operatives account for 85% of the market, by number

Figure 6: Bank Austria Creditanstalt AG leads the banking sector, with a market share of 56%

Figure 7: Raiffeisen Kapitalanlage-Gesellschaft accounts for 22% of the mutual funds market

Figure 8: Equity funds and alternative funds together account for just over one-quarter of the market, by number

Abstract

Introduction

Analyzes the market for retail deposits, mutual funds, equities and bonds, including market data from 2001-5 and forecasts to 2010. Assesses regulatory developments and presents competition from retail banks and mutual fund providers

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

The Austrian retail savings and investments sector accounts for 31% of the total savings and investments market. Within household portfolios, mutual funds represent the largest asset class and between 2003 and 2005, the proportional allocation of household assets to mutual funds increased steadily.

30% of the increase in household assets between 2004 and 2005 was attributed to appreciation in the value of stocks and mutual funds. In 2005, Austrian households demonstrated increased demand for domestic fixed-income fund shares and balanced funds with a capital guarantee.

Austrian banking groups also dominate the mutual funds sector. Bank Austria Creditanstalt AG (BA-CA) leads the banking sector, by total assets. Capital Invest die Kapitalanlagegesellschaft der BA/CA Gr. GmbH (renamed Pioneer Investments Austria in November 2006) ranks third in the Austrian mutual funds sector, by assets under management.

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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