As of year-end 2019 Austria’s investment fund industry had managed assets of € 195.0 billion, an increase by € 21.2 billion or 12.2% compared with year-end 2018. The majority of the increased results from increased in fund prices, with € 4.3 billion originating from net inflows. Approximately € 108.6 billion (+10.7% were managed by Austrian alternative investment funds (AIFs) and € 86.3 billion (+14.2%) by Austrian undertakings for collective investment in transferable securities (UCITS). These are the findings of the Austrian Financial Market Authority’s (FMA) report on Asset Management for 2019.
Marked increases in sustainability funds, mixed funds and equity funds.
Broken down by investment strategy, the managed assets for 2019 were in particular held in mixed funds (€ 83.6 billion, +15.9% in comparison with 2018), bond funds (€ 62.0 billion, +3.4%), equity funds (€ 33 billion, +27.3%) and real estate funds (€ 9.4 billion, +10.2%). The increase in managed assets was especially high for sustainability funds in accordance with Austrian Ecolabel 49 (Umweltzeichen 49 (UZ49)) for Sustainable Investment Products. The aggregated net inflows of approx. € 4.3 billion occurred primarily as a result of inflows in mixed funds (+ € 3,672 million), equity funds (+ € 847 million) and real estate funds (+ € 706 million). Bond funds, in contrast, posted net outflows of approx. € 1 billion.
Dynamic offering of foreign funds in Austria
Out of 8,858 foreign funds, which were approved for distribution in Austria as at 31.12.2019, 7,415 (+59) were “Undertakings for collective investment in transferable securities” (UCITS) and 1,443 (+333) alternative investment funds (AIFs). The total number of foreign funds in 2019 increased by 392 (+4.6%). Funds from Luxembourg and Ireland together make up approx. 80% of foreign UCITS and 62% of foreign AIFs As a consequence of Brexit, funds from Great Britain have frequently moved their registered office to other Member States, meaning that in 2019 alone, the number of British funds notified for distribution in Austria fell by 73 UCITS as well as by 112 AIFs.
Number of management companies (KAGs) fell, while number of AIFMs and managers of European venture capital funds (EuVECA) in contrast increased
At the end of 2019 14 investment fund management companies (KAGs)[1] and 51 alternative Investment Fund Manager (AIFMs)[2] were authorised in Austria. While the number of KAGs fell by 2 in 2019, the number of AIFMs increased by one. The AIFMs consist of 13 KAGs and five real estate investment fund management companies (Immo-KAGs), which also have a licence as AIFMs, as well as five licensed AIFMs and 28 registered AIFMs. Nine registered AIFMs are also authorised as managers of European venture capital funds (EuVECAs).
The full report can be found online (in German only) on the FMA website.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-6006
+43/(0) 676/88249516
[1] under the Investment Funds Act 2011 (InvFG 2011; Investmentfondsgesetz 2011)
[2] under the Alternative Investment Fund Managers Act (AIFMG)