Managing Director
Sunday, July 3rd, 2016It was not only the depressing numbers. After all, the industry of the closed-end funds had to accept a loss of 23 percent again (placed equity of EUR 4.5 billion alone by institutional investors 1.36 billion), making the year’s VGF Summit to the tragedy. “If Managing Director accordingly introduces a Convention with the words, it is that we meet in this way the last time,” then you like that define as rhetorical gaffe, because I meant sure: from next year, we are a part of the total market of regulated products with the same chances. ” But it shows the mood. And when the boss of one of the most important houses of analysis in the presence of the policy stated, he would not draw sure at least three of the first ten suppliers, then that is anything but constructive.
The market of closed-end funds has changed completely. But already knew that. The confusion is understandable. And maybe 1,000 visitors showed at least a big Interest in the future. The lectures, especially from the ranks of lawyers, partly brilliant, because they have given good advice, how one should act as soon as possible. And they have shown that the issuing houses now are investment companies. What would be wrong with that? The sales anyway, mostly stayed away the VGF Summit.
Depression with all due respect can afford only provider. And also otherwise it were rather the dominated the usual providers of Bank stock. You are at least relatively more, also the winner, if you look at the numbers. Yes also more and more, their investors come from institutional stock. And the Association? Everything comes so what it looks like, then providers are likely to wonder probably in the future, in which Federation they go. “Real estate companies are likely to prefer the ZIA, the at the same time his start to the year Quo Vadis” in Berlin had and always with a whole armada of high-profile policy can shine. Others could be geared towards the BVI and would thus Past rid of Oh-so-maligned grey mark Fund. By the VGF, one learns to consider a reorientation, in which direction is not so clear. This mood has flipped in the VGF Summit: where the trip could go, was not really clear.