team spirit - Bankier.pl

Flexible products
for closing the
pension gap
� Pension planning: The two state-assisted retirement planning
products, BA-CA VorsorgePlus-Plan and BA-CA Vorsorge-
Plus-Pension, continued to be of interest to customers in
2005. Together with other guaranteed-capital retirement planning
products they make it easier for our customers to close
their pension gap. In addition, the “PensionsManagement
Golden Gate” product – a very flexible product with tax benefits,
which guarantees the buyer an additional private pension
for the rest of his life – was the focus of several product
campaigns and was in strong demand. The possibility to structure
the components in a very flexible manner is in conformity
with our product philosophy: to meet the needs arising in
the different periods of a person’s life with standardised, but
flexible, products. BA-CA’s Global IndexGarant 05 is an indexlinked
life insurance product with tax benefits. It offers
investors the average performance of the three leading share
indices and a 100 % guarantee on the invested capital, and
was well-received by BA-CA customers.
Investments in 2005:
total return on various investment categories
in %
50
40
30
20
10
0
30%
Global stock
markets (MSCI)
USA (MSCI)
in euro
22%
19%
Euro area (MSCI)
51%
Austria (ATX)
56%
CEE (MSCI)
60 Austrian Customer Business
18%
USA (SSB WGBI 7–10yr)
6% 6%
Euro area (7–10yr)
Austria (7–10yr)
28%
13%
23%
34%
Stock markets Bonds Other
US dollar appreciation
Global emerging markets
CEE (MSCI)
Hedge funds (Tremont)
Gold
14%
USD/EUR
� Insurance business: Total premium volume reached a
favourable level of € 325 m in 2005. A substantial portion of
income from insurance business was achieved with the combination
product “Active Cash mit ErfolgsCard” which is provided
for a limited period, and with classic life insurance policies
where premiums are paid on a regular basis – a classic
example of a bancassurance cross-selling product.
� The Mitarbeitervorsorgekasse product (designed to meet
demand from companies following a change in the Austrian
regulations governing severance payments) was again successfully
sold to business customers in 2005. Particular attention
was paid to the initial period of the compulsory assignment of
health insurance funds. Our partners of VBV-Mitarbeitervorsorgekasse
are now serving 17,000 companies.
Asset Management Gesellschaft mbH (AMG)
AMG is the asset management company of Bank Austria
Creditanstalt. It specialises in asset management, fund asset
management, capital-guaranteed asset management, and on
providing brokerage services. AMG also has important functions
within the BA-CA Group in the area of securities business
(supporting sales activities, product management, and
securities taxes and special products). In the area of individual
asset management portfolio volume increased by 8 % in
2005 over the previous year, and in funds of funds business it
was up by 25 %. AMG’s brokerage activities largely focus on
private customers. 2005 was a very successful year, given the
favourable performance of stock markets. The number of safecustody
accounts maintained by AMG rose by 30 %, while the
volume of assets under management was up by 31%.
We attribute our successful performance to the following factors:
a focus on the creation of products tailored to meet customer
needs; selective marketing by targeting specific,
homogenous customer groups; a flexible product design;
maintaining a transparent range of products (core product catalogues
for our customer segments) with a focus on quality
products which receive the necessary sales support; and the
optimisation and maximum standardisation of settlement
operations.
Capital Invest
2005 saw an almost 20 % increase in the fund volume managed
by Capital Invest, which climbed to € 24.2 bn. This corresponds
to a market share of 15.54 %. Assets under management
(including advice mandates and CEE) totalled € 27.2 bn
at year-end 2005, a rise of 24 % on 2004. As in the preceding
years, customers expressed great interest in Capital Invest’s
guarantee funds, an area in which it is market leader. The
Capital Invest R.I.CH. Garantie product, already referred to