DOCSLIB.ORG

Union Investment Real Estate Portfolio

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Union Investment Real Estate Portfolio Community is everything 2013 annual report and CSR report Union Investment – Partner of the Cooperative Banks and a DZ BANK Group Company The Union Investment Group is one of the largest and Banking. The DZ BANK Group forms part of the Ger- most important providers in Germany’s asset manage- man cooperative financial network, which comprises ment industry, with more than 50 years of expertise in more than 1,100 local cooperative banks and is one fund management, and assets under management of of Germany’s largest private-sector financial services over € 206.2 billion. Union Investment actively man- organizations in terms of total assets. Within the ages assets, offering tailored investment solutions for cooperative financial network, DZ BANK AG functions both retail and institutional investors. both as a central institution for over 900 cooperative banks (and their roughly 12,000 branch offices) and Union Investment is a member of the DZ BANK Group as a corporate bank. alongside Bausparkasse Schwäbisch Hall, DG HYP, DZ PRIVATBANK, R+V Versicherung, TeamBank, VR This combination of banking, personal investment LEASING, and various other specialized institutions. products and services, insurance, and home savings The companies in the DZ BANK Group constitute key has a long and successful tradition in the cooperative pillars in the range of financial products and services financial network. The specialized institutions in the offered by the cooperative financial network. The DZ DZ BANK Group provide top-class, highly competitive BANK Group sets out its strategy and range of services products at reasonable prices within their specific for the cooperative banks and their customers through areas of expertise. This ensures that the cooperative its four strategic business lines – Retail Banking, banks in Germany are able to offer their clients a com- Corporate Banking, Capital Markets, and Transaction prehensive range of outstanding financial services. 2013 2012 2011 2010 Assets under management (AuM) (€ billion) 206.2 190.5 170.3 177.4 Mutual funds 120.8 114.8 103.0 109.7 Special funds 61.3 58.8 53.3 54.4 Other formats ¹ 30.0 26.1 20.3 19.1 Formats managed by third parties ² -6 -9.2 -6.3 -5.8 Market share of total BVI assets under management ³ 12.8% 12.3% 11.8% 11.9% Market share of BVI mutual funds (AuM) 19.6% 19.5% 18.2% 18.1% Market share of BVI special funds (AuM) 11.4% 11.0% 11.7% 11.9% Net inflows (€ billion) 10.1 9.9 -1.5 8.7 Mutual funds 1.4 5.4 -2.1 -0.3 Special funds 1.9 2.1 0.3 6.2 Other formats ¹ 2.9 3.7 1.3 3.0 Formats managed by third parties ² 3.9 -1.3 -1.0 -0.2 Market share of total inflows to BVI (AuM) ³ 20.1% 14.9% -36.2% 25.0% Market share of inflows to BVI mutual funds (AuM) 35.4% 41.0% n.a. 4 -32.0% Market share of inflows to BVI special funds (AuM) 9.4% 10.3% 4.4% 21.5% Number of products 963 998 969 957 Mutual funds 690 708 675 634 Special funds 311 323 308 318 Other formats ¹ 253 250 249 246 Formats managed by third parties ² -291 -283 -263 -241 ¹ Fund-linked asset management, institutional asset management, private banking, advisory services. ² Notional adjustment of assets under management for formats that are administered by Union Investment but managed by third parties. ³ Based on fund management statistics published by the Bundesverband Investment und Asset Management e.V. (BVI) [Federal Association of German Fund Management Companies], analysis of managed funds. 4 Total new business in the sector was down, therefore no market share can be shown. Source: Union Investment; as at December 31, 2013 4 Community is everything A good payoff New build with a seal of A step ahead Good corporate governance in the approval Union Investment has developed interests of investors – Certification of the new MainTor its own tools so that it can predict a good payoff Porta building in Frankfurt – investment risks as accurately as a report possible 5 15 examples of how more can be achieved by working together Contents Letter to shareholders 8 1 What makes a community 10 2 Laying the foundations for future prosperity 18 3 A tradition of engagement 24 4 Preparing for the future 28 5 UniProfiRente – the right Riester pension product 30 6 A good payoff 34 7 New build with a seal of approval 38 8 An obligation for all eternity 40 9 Achieving a balance 44 10 Every call is unique 46 11 The current champion 49 12 Navigating a course for returns 52 13 A step ahead 54 A good 14 Escaping the core trap 58 15 Community as a way of life 62 6 payoff Union Investment is almost unique among 2013 financial report 67 fund management companies in the way that Group management report 70 it stands up for good corporate governance in Report of the Supervisory Board 102 the interests of shareholders. This commitment Consolidated financial statements 104 creates tangible financial benefits. Page 34 Audit opinion (translation) 170 Shareholders and decision-making bodies 171 2013 CSR report 175 About this report 176 Sustainability program 178 Our real-estate portfolio 183 GRI Index 199 GRI report 211 Glossary 213 Editorial information 217 6 Union Asset Management Holding AG 2013 Annual Report 15 examples of how more can be achieved by working together 7 New build with a seal of approval A sustainably designed building fits in perfectly with the environ- mental targets and certified environmental management system of Union Investment. That is why it wants the new MainTor Porta building in Frankfurt to be awarded a gold certificate from the German Sustainable Building Council. A complex project. Page 38 13 A step ahead The financial crisis revealed the weaknesses of the major rating agencies. Union Invest- ment has developed its own tools so that it can predict the country risk of investments as accurately as possible. The tools broaden the decision-making basis for investments, for ex- ample taking into consideration factors such as corruption in public authorities and companies. This increases the quality of financial products. Page 54 7 Dear readers and shareholders, What happens when the parameters within which we operate change significantly and the tried-and-tested approaches no longer work? This is the issue that particularly concerns us at the moment. Permanently low interest rates threaten the prosperity of our society. The Germans are becoming poorer as they save. Although they are diligent savers, their strong preference for safety means that they earn virtually no returns. Many investors have no idea how to deal with this situation. They have no experience to draw on, just an inherited attitude to investment based on interest rates that has been handed down for generations. As the trustee of customer assets totaling more than €200 billion, Union Investment knows it has a particular responsibility. We want to encourage people to invest in a more balanced manner. We know full well that we will not make the Germans into a nation of shareholders overnight. Nonetheless, our task is to present the opportunity-oriented in- vestment options and thereby give them access to more balanced investments. This is the only way that investors can generate reasonable returns when interest rates remain low for long periods. Our solutions can show them that there is a wide investment universe beyond zero interest rates. The market performed well in 2013, showing that, through active asset management, it is still possible to create wealth and add value when interest rates are low. Across all classes of securities, the funds of Union Investment generated a net return of 5.7 percent. This strong performance combined with our rigorous focus on the needs of retail and institu- tional investors again paid off in 2013. We generated net new business of €10.1 billion and increased assets under management to a record €206.2 billion. Moreover, we posted a profit before taxes of €399 million. 8 Union Asset Management Holding AG 2013 Annual Report This report shows you how we are going about achieving our primary objective of making more of our investors‘ money so that we merit their trust. The report‘s title is ‚Community is everything‘ because we take our responsibility towards society – the community – seriously and constantly strive to integrate our sustainability efforts into our core business. We are making good progress, which is why we are reporting on our sustainability activities within the framework of our annual report for the first time. ‚Community is everything‘ indicates that we can only achieve our objective as part of a community with our partners in the cooperative financial network and as a result of the huge level of commitment shown by the 2,400 or so employees of Union Investment. On behalf of the Union Investment Board of Managing Directors, I would like to take this opportunity to say a big thank you to everyone. I hope you enjoy reading this report. Kind regards, Hans Joachim Reinke Chief Executive Officer of Union Asset Management Holding AG 9 Diversity Community means having a shared philosophy with which to move forward together. The rising heat carries us and the wind moves us, all in the same direction and each on our own journey. Doing things together does not mean doing everything the same. It is the interplay between different perspectives that results in diversity. 10 Union Asset Management Holding AG 2013 Annual Report 1 What makes a community Everyone knows that the whole is greater than the sum of its parts.
Load more

Recommended publications
  • Working Not For, but with People Sozialwerk
    Sozialwerk St. Georg e.V. 2008 Sozialwerk St.Georg e.V. Working not for, but with people Preface by the Executive Board Contents 4 Retrospect, guidelines, prospects 6 6 Tasks, aims, structures 10 Foundation KEY FIGURES 2008 People assisted: about 3,600* Services offered and target groups Members of staff: about 2,200 11 Work and employment/activities Personnel expense: € 77.3 m Living / accommodation Turnover: € 97.5 m Special services offered Total operating performance: € 108,3 m Leisure Total capital expenditure: € 10,3 m *The number of people benefitting from our services also increased in 2008.The number 3,600 expresses the number of assistance relationships. 15 Figures, data, facts 2008 IMPRINT: Publisher responsible for the contents: Sozialwerk St. Georg e. V., Gelsenkirchen Editor: Stefan Kuster Original concept/design: XEO creative communication, Düsseldorf Current layout design: GLADE-MEDIEN, Schmallenberg We would like to express our gratitude to all of the authors of the contributions and to all those who have contributed in any other way to the success of this publication. 2 | Sozialwerk St. Georg Working not for, but with people. We wish to provide person-centred services so that people with disabilities, illnesses or social difficulties can live in a self-determin- ed way. We consider it an important Christian and social task to assist and support every individual person so wishing, to respect him or her in his or her uniqueness and dignity and to make it possible for that person to take part in social life. In order to be able to ensure this on a permanent basis in the interest of our clients we must take up the challenges and assert ourselves in the market as a social service-providing com- pany.
    [Show full text]
  • Annual Financial Satements and Management Report for the Fiscal Year 2016 Deutscher Caritasverband E. V. Freiburg Im Breisgau
    Annual financial satements and management report for the fiscal year 2016 Deutscher Caritasverband e. V. Freiburg im Breisgau Deutscher Caritasverband e. V. Freiburg im Breisgau Balance Sheet as of 31 December 2016 A S S E T S Prior year EUR EUR EUR k EUR k A. Fixed assets I. Intangible assets Concessions, industrial rights and similar rights and assets and licenses in such rights and assets acquired for a consideration 40.210,78 44 II. Property, plant and equipment 1.Land and buildings 26.810.660,00 27.818 2.Other equipment, furniture and fixtures 1.782.400,89 1.589 3.Assets under construction 610.529,67 29.203.590,56 251 29.658 III. Financial assets 1.Equity investments and cooperative shares 299.744,13 300 2.Securities classified as fixed assets 79.519.661,90 79.688 3.Other loans 4.570,40 79.823.976,43 13 80.001 109.067.777,77 109.703 B. Current assets I. Inventories 1.Raw materials, consumables and supplies 48.283,61 42 2.Merchandise 23.361,78 71.645,39 42 84 II. Receivables and other assets 1.Trade receivables 779.367,50 580 2.Receivables from companies in which an equity investment is held 221.835,32 223 3.Other assets 2.821.981,67 3.823.184,49 4.978 5.781 III. Securities Other securities 134.737.727,89 126.393 IV.Cash on hand, Bundesbank balances and bank balances 23.345.163,02 31.524 161.977.720,79 163.782 C. Prepaid expenses 1.158.357,43 1.116 D.
    [Show full text]
  • Developing a Theoretical Model for the System of Church Financing of the Roman Catholic Church in Germany
    Believing without contributing? Developing a theoretical model for the system of church financing of the Roman Catholic Church in Germany Christoph Biermeier University of Gloucestershire February 2019 Advanced Postgraduate Diploma, University of Gloucestershire, Cheltenham, UK, 2012 Master of Science, Frankfurt School of Finance & Management, Frankfurt, DE, 2009 Bachelor of Arts (hons), The Open University, Milton Keynes, UK, 2007 Diplom Betriebswirt (BA), Baden-Wuerttemberg Cooperative State University, Karlsruhe, DE, 2007 ◊ Lecturer, Rhine-Waal University of Applied Sciences, Kamp-Lintfort, DE, since 2014 ◊ Related conference attendance and proceedings: Biermeier (forthcoming) An innovative form of church financing: ecclesiastical crowd-funding. Research Paper presented at the 2nd International Festival of Creativity in Church Management (25-27 June 2018) Villanova School of Business | The Center for Church Management | Villanova University, Villanova, PA, USA A thesis submitted to the University of Gloucestershire in accordance with the requirements of the degree of Doctor of Philosophy in the Faculty of Business, Computing and Applied Sciences 2 Abstract This thesis analyses the financing system of the Roman Catholic Church in Germany (RCCiG) from both, a church membership- and financial-viewpoint. The RCCiG invites laymen with expertise in secular aspects of ecclesiastical being to contribute to an ideal system of church financing (Gemeinsame Synode, 1977, p. 213). Additionally, public interest in church financing has increased recently. Uhle (2015, pp. 5-6) explains this based on three recent incidents: (i) the debate on the Staatsleistungen, i.e. payments by the state based on historical titles, (ii) the Causa Limburg, where the Bishop of Limburg created a financial scandal while renovating his residence, and (iii) the modification of the church tax on capital gains.
    [Show full text]
  • Ruhrfellowship 2017 Inhalt Content
    RuhrFellowship 2017 Inhalt Content Vorwort Preface 4 Übersicht der Teilnehmer Overview of Participants 8 Phase 1 Summer School 10 Resümees aus Übersee Résumés from Overseas 12 Phase 2 Praktika und Partnerunternehmen 72 Initiativkreis Ruhr 82 Wir danken allen Studierenden für die Bereitschaft, uns die Bilder für dieses Booklet zur Verfügung zu stellen. TalentMetropole Ruhr 84 Impressum | Bildnachweis 86 Inhalt/Content 3 Vorwort Lobende Worte für die Industriekultur und die Forschungs- die Studierenden die Universitäten der UA Ruhr kennen Das passt zur neuesten Entwicklung des RuhrFellowships. landschaft im Ruhrgebiet, die Begeisterung für Currywurst und knüpften Kontakte in die Ruhr-Wirtschaft. Praktikums- Denn ab jetzt heißt es: Auf zu neuen Ufern. Beim Transatlan- und Döner sowie die Erkenntnis, zwei aufregende und inter- plätze boten die Unternehmen Brenntag, Contilia, duisport, tic RuhrFellowship können besonders begabte und interes- essante Monate erlebt zu haben – das alles verbindet 17 Stu- EMSCHERGENOSSENSCHAFT und LIPPEVERBAND, Evonik, sierte Studierende aus unserer Region Einblicke in die ame- dierende der US-Eliteuniversitäten Berkeley, Harvard, Penn- HOCHTIEF, innogy, ista, KPMG, NATIONAL-BANK, RAG und rikanische Unternehmenskultur gewinnen und praktische sylvania und Princeton, die im Sommer als RuhrFellows 2017 Vaillant an. Zahlreiche Exkursionen führten zu Einrichtungen Arbeitserfahrungen in der Metropolregion New York sam- das Ruhrgebiet kennenlernen durften. Auf Einladung des Ini- und Orten, die den Studierenden Einblicke in die wirtschaft- meln – RuhrFellowship „reverse“ sozusagen. Das im Sommer tiativkreises Ruhr und der Universitätsallianz Ruhr (UA Ruhr) liche Vielfalt und kulturelle Attraktivität der Ruhr-Region 2017 gestartete Format kam bei den Studierenden so gut an, Dirk Opalka absolvierten sie Praktika in Unternehmen der Region, ver- ermöglichten.
    [Show full text]
  • Ruhrfellowship 2016 3
    RuhrFellowship 2016 3 Inhalt | Content Vorwort | Preface 4 Übersicht der Teilnehmer | Overview of Participants 8 Phase 1 | Summer School 10 Resümees aus Übersee | Résumés from Overseas 12 Phase 2 | Praktika und Partnerunternehmen 82 Initiativkreis Ruhr 92 TalentMetropole Ruhr 94 Impressum | Bildnachweis 96 4 5 Vorwort Das Ruhrgebiet hat viel zu bieten: innovative und zählte. Das akademische Programm organisier- Bei einer Führung durch den SIGNAL IDUNA PARK weltweit agierende Unternehmen, eine lebendige te die UA Ruhr unter der Federführung der Ruhr- bei Borussia Dortmund erhielten die RuhrFellows Kulturszene, eine ausgeprägte Willkommenskul- Universität Bochum. In der zweiten Hälfte absol- zudem Einblicke in die große Fußballkultur im tur. Mit einem dichten Netz renommierter Hoch- vierten die RuhrFellows jeweils ein vierwöchiges Revier. schulen ist unsere Region eine Quelle für akademi- Praktikum bei Mitgliedsunternehmen des Initia- Dirk Opalka sches Wissen. All das sind Stärken, von denen sich tivkreises Ruhr. Praktikumsplätze boten in diesem Schon seit 2014 zieht es nach Angaben des Deut- Geschäftsführer der Initiativkreis Ruhr GmbH auch in diesem Jahr wieder 17 RuhrFellows über- Jahr Accenture, BP Europa, Brenntag, EMSCHER- schen Akademischen Austauschdienstes jährlich zeugen konnten. Ausgewählte Studierende renom- GENOSSENSCHAFT und LIPPEVERBAND, Evonik mehr als 10.000 US-Studierende nach Deutsch- mierter US-Universitäten kamen in die Region, um Industries, GELSENWASSER, HOCHTIEF, innogy, land. Das Ruhrgebiet steht besonders hoch im ihre Deutschkenntnisse zu verbessern, Industrie- KPMG, NATIONAL-BANK, RAG, Ruhrverband, Kurs: Gehört es mit 22 renommierten Hochschu- Praktika zu absolvieren, eine Summer School an SMS group, Thyssengas und Vaillant an. len und mehr als 600 zum Teil internationalen der Ruhr-Universität Bochum zu besuchen und Studiengängen doch zu den wichtigsten Wissens- die Region als Arbeits- und Lebensraum kennen- Zahlreiche Exkursionen führten zu Einrichtungen regionen Europas.
    [Show full text]