Elite Report 2013: Six banks took the first place

  • Elite Report as the largest and most comprehensive industry test of its kind for 10 years
  • Schoellerbank among the top six asset managers in the German-speaking area

Munich, 19 November 2012. The Elite Report Award was presented at the Munich Residence as part of the 9th Asset Convention. 44 out of the 383 tested asset managers from Germany, Switzerland, Austria and Liechtenstein were invited. The award was handed over by Katja Hessel, state secretary to the Bavarian Ministry of Finance, along with the editor-in-chief of Elite Report. The presence of some 180 guests attending the reception hosted by the Bavarian state government made the event the industry highlight of the year.

How to find recommendable asset managers?

At least since the beginning of the financial crisis four years ago, asset managers’ paramount aim has been to preserve their wealthy clients’ assets. With interest rates at a low and an increasing inflation threat, the asset management sector is currently facing great challenges as it endeavouirs to meet customer expectations and live up to the goal of preserving assets. Therefore, looking for and wisely picking the best suited asset manager has become more important than ever. The Elite Report provides the answers: It has been testing the asset management sector since 2003, and in the publication’s 10th year the edition ’The Elite of Asset Managers in the German-speaking area’ presents the results by naming the most recommendable institutions on the market.

Six banks in the number one spot

The ’summa cum laude’, ’magna cum laude’, ’cum laude’ and ’satis bene’ distinctions are awarded depending on the score achieved. Six banks tied for first place: Schoellerbank from Austria, Berenberg Bank, BHF-BANK, Bremer Landesbank, Hamburger Sparkasse and Liechtenstein’s Centrum Bank.

Just under one in nine asset managers are to be recommended.

The number of recommendable asset managers fell again this year. Of the 383 asset managers assessed, 140 underwent thorough examinations, including tests, individual resarch and background discussions. In addition, depots and data were by means of extensive tenders. In the end 44 asset managers turned out recommendable. 

The 44 institutions honoured - made up of 6 Austrian, 27 German, 9 Swiss and 2 Liechtenstein institutions - represent the community of quality excellence in the German-speaking area 2013.

Assessment criteria

In addition to the test’s central criteria, namely ’asset preservation’, ’dependability’ and ’costs and fees’, 44 individual criteria were analysed. These include the quality of the advice and accuracy, personal suitability and professional intelligence as well as the acceptance of responsibility and asset protection. The process index has been adopted as a new assessment criterion. It serves to determine how many unsatisfied clients want to take legal action for losses sustained and supposed malpractice. In addition to the tests, reputation surveys conducted with more than 100 executives in individual interviews provided a good overview.

The Elite Report at one glance

In the Elite Report ist published under the title of ’Elite Asset Managers in the German-speaking area 2013’, in cooperation with the daily business paper Handelsblatt: On currently 144 pages the Elite Report publishes details on the tests as well as addresses and portraits of the most reliable asset managers in the German-speaking area as well as numerous articles providing orientation and advice with regard to the topic of assets and their management. The Elite Report is available for 39,80 euros inclusive of VAT and postage. Subscribers to the Handelsblatt receive a 10 euro discount. Orders may be made online at www.elitereport.de, by email: bestellung@elitereport.de or by fax: +49 (0) 89 / 470 38 81.

Pyramid of Excellence

Portrait of Schoellerbank from the Elite Report 2013:

"Remarkable performance, accuracy and dependability ... this is what advisers from this institute are committed to. But besides their professional expertise, they also possess values and high principles. This makes this asset manager unique. It is inner quality and stability that protect customers from being taken advantage of and that justify the genuine trust. Schoeller is second to none in Austria and even prevails in Germany in all comparisons. This asset manager preserves and increases capital on a long-term basis. Decency and fairness reign in this institute, as does integrity."