Capital Protected and Structured products in Europe 2007

Published by: Datamonitor

Published: Jun. 20, 2007 - 39 Pages

Table of Contents

TABLE OF CONTENTS

Overview

Catalyst

Summary

Executive Summary

Market Context

Customer Focus

MARKET CONTEXT

Introduction

Key findings

Demand for capital protected products is on the increase

Demand for capital protected and structured products is likely to remain strong and steady

Institutional demand is likely to increase by around 5-10% per year

High net worth interest in capital protected & structured products is predicted to grow by up to 0-10% per year

Mass market demand for capital protected & structured products is likely to increase over the next 3 years

ADI, AXA and Credit Agricole are perceived as the leading competitors for capital protected and structured products in France

Deutsche Bank has the best reputation in Germany

Credit Suisse is perceived as the top player in Italy

Allianz Dresdner is perceived as the market leader for capital protected & structured products in Spain

Barclays, Goldman Sachs & HSBC have the best reputation in the UK market

ADI is a specialist alternative asset management company

Deutsche Bank Asset Management has been active for more than 30 years in Germany and more than 50 years in the UK

Credit Suisse is in the top ten global financial institutions in terms of assets under management

Allianz Dresdner has more than 100 years of asset management experience to its name

Data

CUSTOMER FOCUS

Introduction

Key findings

The high net worth segment is the biggest customer group in Europe for capital protected funds, while institutional clients are the largest for structured products

Institutional investors are likely to be the biggest customer base for these products in the future

The mass market is likely to see the biggest increase in demand for capital protected & structured products

The retail banking channel is the most successful method of distributing capital protected and structured products to the mass market in Europe

High net worth investors prefer retail banks as a distribution channel

Institutional investors across Europe tend to purchase capital protected and structured products directly

APPENDIX

Definitions

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

TABLE OF FIGURES

Figure 1: In spite of France’s minor blip, the number of capital-protected funds have shown steady growth throughout Europe

Figure 2: Net assets of capital-protected funds have been growing particularly strongly in France and Luxembourg

Figure 3: In your opinion, what is the most important reason why wealthy clients are demanding alternative investments?

Figure 4: There is no general consensus as to the main customer group for capital protected products between countries in Europe

Figure 5: Institutions are the main client group for structured products across Europe but demand from high net worths is stronger in Germany

Figure 6: Institutions are expected to be the biggest customer group for capital protected products in 3 years’ time, apart from Germany and Italy

Figure 7: Institutions will be the biggest group for structured products in 3 years’ time across Europe, apart from Germany, where it is expected to be the mass market

Figure 8: What do you think is the best way for capital protected products to be distributed to mass market investors?

Figure 9: What do you think is the best way for structured products to be distributed to mass market investors?

Figure 10: What do you think is the best way for capital protected products to be distributed to high net worth investors?

Figure 11: What do you think is the best way for structured products to be distributed to high net worth investors?

Figure 12: What do you think is the best way for capital protected products to be distributed to institutional investors?

Figure 13: What do you think is the best way for structured products to be distributed to institutional investors?

TABLE OF TABLES

Table 1: In your opinion, what is the most important reason why wealthy clients are demanding alternative investments?

Table 2: What type of alternative investment fund is most in demand by your wealthy clients or the wealth managers who offer your funds to their clients?

Table 3: Thinking of the next 3 years, how do you think demand for the following alternative investments will change among institutional investors?

Table 4: Thinking of institutional investors, what do you think will be the major barriers to wider take-up of the following alternative investments in the next three years?

Table 5: Thinking of the next 3 years, how do you think demand for the following alternative investments will change among high net worth investors?

Table 6: Thinking of high net worth customers, what do you think will be the major barriers to wider take-up of the following alternative investments in the next three years?

Table 7: Thinking of the next three years, how do you think demand for the following alternative investments will change among mass market investors?

Table 8: Thinking of mass market customers, what do you think will be the major barriers to wider take-up of the following alternative investments in the next three years?

Table 9: In France, who are the 3 best asset managers at building capital protected and structured products?

Table 10: In Germany, who are the 3 best asset managers at building capital protected and structured products?

Table 11: In Italy, who are the 3 best asset managers at building capital protected and structured products?

Table 12: In Spain, who are the 3 best asset managers at building capital protected and structured products?

Table 13: In the UK, who are the 3 best asset managers at building capital protected and structured products?

Table 14: Number of capital protected funds between 2002-2006 for 5 European countries

Table 15: Net assets of capital protected funds between 2002-2006 for 5 European countries, EURm

Table 16: Which is your biggest customer group for the following products?

Table 17: In 3 years, which will be your biggest customer group for the following products?

Table 18: For the following investments, from which customer base will the most increase in demand come in 3 year's time?

Table 19: What do you think is the best way for the following alternative investments to be distributed to mass market investors?

Table 20: What do you think is the best way for the following alternative investments to be distributed to high net worth investors?

Table 21: What do you think is the best way for the following alternative investments to be distributed to institutional investors?

Abstract

This report analyses the market for capital protected & structured products in five key European geographies based on the results of Datamonitor's European Asset Management Market Leaders Survey 2007, asking 102 asset managers about target markets, key product offerings and methods of distribution.

Datamonitor's Asset Management Market Leaders survey of 102 asset managers in France, Germany, Italy, Spain and the UK.

Covers capital protected and structured products demanded by mass market, high net worth and institutional investors

Assesses distribution channels most appropriate to each target customer base

Although for the majority of European countries, high net worths are considered to be the largest customer group for capital protected products, in Germany & Spain asset managers find that the mass market provides the most business, while in Italy the dominant group is the institutional market.

Despite asset managers across Europe predicting growth and dominance of the institutional sector for both capital protected and structured products, the most increase in demand for these products over the next three years is expected to come from mass market clients.

Across Europe, retail banks are the most popular channel for the distribution of both capital protected and structured products to the high net worth customer segment, although independent financial advisers and private bank wealth managers are also considered effective.

Ascertain the key customer segments and distribution channels to prioritize in building market share

Discover the country differences in opinion about this popular product area

Plan your business strategy based on a unique view of future market direction

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