FMA Report on Asset Management – 1st Quarter 2024: funds’ managed assets increased to € 222.6 bn (+1.2%). Prevailing trend towards sustainable investments.
Austrian investment funds[1] had an aggregated net asset value[2] as of 30 June 2024 of € 222.62 bn (cf. 30.06.2023: € 207.65 bn). The amount of assets increased during the 2nd quarter by € 2.6 billion or +1.2%; in comparison with year-end 2023 by € 9.5 bn or + 4.4%. Approx. € 384 million of the increased amount of assets during the 2nd quarter can be attributed to net inflows of funds, with the remainder attributable to increases in market value; in H1 net inflows of funds therefore stood at € 980 mn. The assets under management were split between “Undertaking for Collective Investment in Transferable Securities” (UCITS) : € 102.2 bn, i.e. classical investment funds, and € 120.4 bn in “Alternative Investment Funds” (AIFs). These are the findings of the FMA’s Report on Asset Management for Q2 2024, which was published today.
Almost 50% of investors’ money in sustainability-related funds
Broken down by investment strategy, in the 2nd quarter the strongest growth in managed assets was observed in equity funds and mixed funds, while the largest decreases were in real estate funds and short-term bond funds: As of 30.06.2024, net asset value of mixed funds stood at € 102.1 bn (+1.3% or + € 1.3 bn compared with the previous quarter), of bond funds at € 60.1 bn (+0.6% or + € 400 mn), of equity funds at € 45.7 bn (+3.2% or + € 1.42 bn), of real estate funds at € 8.7 bn (-4.2% or – € 400 mn), of short-term bond funds at € 4.3 bn (-2.0% or – € 87.7 mn), for private equity funds at € 1.3 bn and € 0.3 bn in other funds (no base for comparison is available for the final two categories). The prevailing trend over many years regarding investment in sustainability-related funds continued during the reporting period. Funds that are additionally to be classified as sustainability-related under the Sustainable Finance Disclosure Regulation (SFDR) (Art. 8 und Art. 9), already managed € 108.1 bn in assets in H1 (+3.8% or + €4.0 bn compared against the previous quarter). Consequently 48.6% of the total aggregated net asset value is invested sustainably in one or the other way.
As of the reporting date, there were 14 investment fund management companies (KAGs; Kapitalanlagegesellschaften) and 61 Alternative Investment Fund Managers (AIFMs); this was an increase of one AIFM than a year previously. Respectively they have established 887 (+4 compared with the previous quarter) UCITS as well as 1,211 (+10) AIFs. Categorised by investment strategy they consist of 1,142 mixed funds, 430 bond funds, 357 equity funds, 50 short-term bond funds, 45 private equity funds, 18 real estate funds as well as 56 other funds. Out of all of these funds 666 (previous quarter: 640) are categorised as “light green” under Article 8 SFDR, 13 of them are categorised as “dark green” under Article 9 SFDR. The light green funds manage assets totalling €105.51 bn, while the dark green funds manage assets of € 2.62 bn.
At the end of the 2nd quarter, 8,157 UCITS (- 8 compared to the previous quarter) and 3,292 AIFs (+97) foreign KAGs and AIFMs were notified from the European Economic Area (EEA) for distribution in Austria. Broken down by their country of origin, Luxembourg, Ireland, Germany and France are particularly strongly represented.
The complete “FMA Report on Asset Management for the 2nd Quarter of 2024” can be downloaded from the FMA Website (in German only) under https://www.fma.gv.at/investmentfonds-und-verwaltungsgesellschaften/quartalsberichte/
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
[1] Under the Investment Funds Act 2011 (InvFG 2011; Investmentfondsgesetz 2011) as well as the Alternative Investment Fund Managers Act (AIFMG; Alternative Investmentfonds Manager-Gesetz)
[2] Aggregated volume of funds as Net Asset Value (NAV)