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earlier in this report, was an exceptional market success.
Private investors account for a little over one half (52 %) of
Capital Invest’s fund volume, while the rest was placed with
large and institutional investors.
In addition to the existing, very successful CEE products it has
been the success of the Capital Invest Osteuropa guarantee
funds which has to a large extent enhanced Capital Invest’s
image as a competence centre for investments in Central and
Eastern Europe. In 2005, Capital Invest’s fund volume in CEE
increased by 77 % to € 2.5 bn. This is again well above the
62 % growth rate recorded for 2004. In terms of volume of
assets under management, Hungary, Poland and the Czech
Republic lead the league of countries in this very young market.
Numerous awards to Capital Invest funds by national and
international agencies have again confirmed the quality of
Capital Invest’s products. The Lipper Fund Awards 2006
named the CI Global High-yield “Best Fund over Five Years” in
its category. In rankings by Standard & Poor’s, Capital Invest
came out top in its category in Austria over a five-year period.
Other Capital Invest funds came in second place and four in
third place. E-fundresearch placed CI Austria Stock in the top
five funds in a Sharpe ratio ranking. In a ranking of funds by
the financial magazine Capital, Capital Invest came in second
place out of a total of 86 funds in German-speaking countries.
BANKPRIVAT
BANKPRIVAT, which serves high net worth individuals, is one
of Austria’s leading private banking institutions in the top market
segment. In the course of 2005, assets under management
rose by 17 % from € 3.8 bn to € 4.5 bn at the end of 2005.
Results for the 2005 financial year were 20 % up on the previous
year, making 2005 one of the bank’s most successful
years to date.
BANKPRIVAT’s activities are guided by the principle of maintaining
close relationships between the portfolio manager and
the client, the creation of exclusiveness, providing comprehensive,
efficient services, and, most importantly,
No standard invest-
working through the client’s wishes and
ment strategies in
objectives. This philosophy is best expressed the top segment
by BANKPRIVAT’s guiding principle: “There
are no standard investment strategies. It is the client who gives
us the full picture”. The exclusiveness is reflected in the minimum
amounts required to qualify as a private banking client
at BANKPRIVAT: liquid assets of € 1 million for high net worth
individuals or a gross annual income of at least € 150,000.
While some private banking institutions have recently significantly
eased their eligibility criteria, BANKPRIVAT continues to
see its own criteria as an indicator of exclusiveness and quality
for customer service. It is this which sets BANKPRIVAT apart
from its competitors. Exclusiveness goes hand in hand with the
close ties maintained with high net worth individuals, both
from a regional perspective and in understanding their problems.
The institution’s core business consists of providing comprehensive
advisory and asset management services to generations
of clients. BANKPRIVAT’s Family Office brings together
bankers, lawyers and tax experts. Activities in 2005 focused on
expanding the institution’s regional presence in the federal
provinces of Lower Austria, Upper Austria and Carinthia, as
well as in Vienna. In this context the events organised by
BANKPRIVAT had a stronger regional emphasis while taking
into account the habits of clients in the top segment. Examples
are the new Family Office brochure “Kunst als Vermögensanlage”
(available in German only) or numerous cultural
events in an exclusive setting.
Schoellerbank
Schoellerbank is one of Austria’s leading private banking institutions.
It serves over 27,000 clients, for whom it manages
assets totalling € 5.9 bn. The bank’s core competence is the
provision of comprehensive advisory services. Schoellerbank
specialises in classic investments, asset management and
retirement planning. Within the framework of its advisory
services, its Family Office also offers solutions to complex problems.
The bank’s investment philosophy is: “Investing is better
than speculating”.
With a network of 13 branch offices and 360 employees,
Schoellerbank is the only private banking institution which
offers its services on a country-wide basis in Austria. A special
report published in the renowned daily newspaper “Die Welt”
in 2006 and entitled “The elite of the asset management companies
in the German-speaking countries” ranks Schoellerbank
among the twelve top private banking institutions out of
a total 262 institutions that were tested. Schoellerbank is
wholly-owned by the Bank Austria Creditanstalt Group. After
a dividend payout of € 12.6 m for 2004, Schoellerbank will
pay a dividend of € 21 m for 2005.
Accounts, payment transactions,
e-business, services
For both private customers and companies, the account
remains the focal point for all financial transactions. As of
year-end 2005, 620,000 customers had opted for an Erfolgs-
Konto package (the account packages were introduced in
2002 with the merger of Bank Austria and Creditanstalt).
These were supplemented by 1.25 million payment transaction
accounts. Our efforts continue to focus on promoting noncash
payments: BankCard with a Maestro function, Quick,
credit cards, OnlineB@nking and TelefonB@nking are all components
of the Erfolgskonto packages and offer customers the
possibility to make payments worldwide at any time. Cus-
Austrian Customer Business 61