Allianz and DWS: fund business suffers from scandals

Frankfurt The fund market in Germany is divided into two: Dekabank and Union Investment collect funds on balance from the four big national banks, while Allianz Global Investors and DWS suffer from net withdrawals from their customers. This is shown by figures from the BVI fund association for sales in Germany last year.

According to this, net sales by investors at the Allianz fund house Allianz Global Investors amounted to 28.9 billion euros, with all data including the mandate business with institutional investors. At DWS, too, customers withdrew funds amounting to 3.2 billion euros.

“In both cases, the respective scandals hit the houses,” says Michael Klimek, founder of the consulting firm Dolphinvest Consulting.

“Especially in the case of Allianz, investors were extremely displeased, and trust was lost,” adds the expert. His conclusion: “If both houses do not satisfy their customers, then that was only the beginning of the outflows.”