As of year-end 2020, Austria’s investment fund industry managed assets of € 202.5 billion, an increase by € 7.5 billion or +3.8% compared with year-end 2019 (€ 195 billion) a new all-time high. The Austrian fund industry was therefore more than able to make up for the massive fall of -10.6% or – € 20.7 billion sustained during the first quarter of 2020 due to the turbulence caused by the COVID-19 pandemic in the ensuing quarters (Q2: +7.4% or + € 12.9 bn; Q3: +2.9% or + € 5.4 bn, Q4: +5.1% or + € 9.9 bn). The majority of the increase in net asset volume in 2020 was as a result of net inflows of funds (€ 6.1 billion), although € 1.4 billion was due to increases in fund prices despite the turbulences visible in the capital markets. Approximately € 112.6 billion (+3.6%) were managed by the 1,113 Austrian alternative investment funds (AIFs) and € 89.9 billion (+4.2%) by the 905 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 the 4th Quarter and Full Year for 2020.
Marked increases in sustainability funds, mixed funds and equity funds.
Broken down by investment strategy, the managed assets for 2020 were in particular held in mixed funds (€ 89.9 billion, +7.6% in comparison with 2019), bond funds (€ 62.3 billion, +0.3%), equity funds (€ 33.7 billion, +2.3%) and real estate funds (€ 9.9 billion, +5.3%). The increase in assets managed was especially high for sustainability funds in accordance with Austrian Ecolabel 49 (Umweltzeichen 49 (UZ49)) for Sustainable Investment Products, up by 61 % to € 16.9 billion. The aggregated net inflows of approx. € 6.1 billion occurred primarily as a result of inflows in mixed funds (+ € 5,077 million), equity funds (+ € 1,175 million) and real estate funds (+ € 340 million). Bond funds, in contrast, posted net outflows of approx. € 456 billion in 2020.
Dynamic offering of foreign funds in Austria
Out of 9,352 foreign funds, which were approved for distribution in Austria as at 31.12.2020, 7,616 (+201) were “Undertakings for collective investment in transferable securities” (UCITS) and 1,736 (+293) alternative investment funds (AIFs). The total number of foreign funds in 2020 increased by 494 (+5.6%). Funds from Luxembourg (55%) and Ireland (25%) together make up approx. 80% of foreign UCITS and 65% 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 2020 alone, the number of British funds notified for distribution in Austria fell by -149 UCITS as well as by -37 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 2020 14 investment fund management companies (KAGs)[1] and 54 alternative Investment Fund Manager (AIFMs)[2] were authorised in Austria. While the number of KAGs remained unchanged, the number of AIFMs increased by three. 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 31 registered AIFMs (an increase of 3 on 2019). Ten registered AIFMs (+1) 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)