29.08.2019 — Scope grants AA+ rating to Berenberg’s European equity fund management
Hamburg. Rating agency Scope has awarded Berenberg’s equity fund management an AA+ rating. This is the second-highest rating that Scope can give. The rating score is 3.57, just short of the 3.60 figure needed to obtain the highest rating (AAA). The rating thus attests to the excellent quality and competency of Germany’s oldest private bank in the management of discretionary equity strategies with a focus on Europe.
The study says: “Berenberg has one of the best-resourced teams for discretionary equity portfolio management with a German and European focus. The performance of the strategies managed on the platform has been very convincing to date. Furthermore, the assets under management in the field of discretionary managed equity strategies have increased significantly since establishing the team.”
The analysts are especially full of praise for the very experienced team, the structured investment process, performance to date and the competitive lead thanks to the strong focus on second-tier stocks. Some of the shortcomings include the relatively short history, higher product risks compared to competitors and a significant risk relating to key personnel.
Henning Gebhardt, Head of Wealth and Asset Management, is very satisfied with the result: “The strong rating from Scope confirms what we are aiming for ourselves. Our goal is to become one of Europe’s leading equity fund management providers and to achieve the best quality possible for our products.
Scope is the market leader amongst European rating agencies. For many institutional investors, a good rating from Scope is a basic prerequisite for permission to invest in an asset manager’s products. The discretionary Berenberg equity fund management, geared for fundamental analysis, was reorganised in 2017 when Henning Gebhardt joined as Head of Wealth and Asset Management and Matthias Born became Chief Investment Officer of the equities platform. The function was enlarged considerably, also involving expansion of the multi-asset area managed by Bernd Meyer. Traditionally, Berenberg has a strong market position in asset management in the field of quantitative analysis strategies and in the overlay management segment.