There’s been huge turnover in Scope’s top-ten ratings of asset managers focusing on funds distributed in the German market, with major names like Goldman Sachs AM, State Street, Legg Mason, JPMorgan and Invesco no longer making the grade. Scope picked out Legg Mason as seeing the most dramatic fall, as just 34.5 percent of its offering making the top rating grade in Q1 2018, compared to 54.5 percent a year ago. They’ve been replaced in the rankings by Investec, Metzler, Union Investment, Vontobel and Allianz Global Investors. Metzler, according to Scope, had the most significant improvement, rising from 32nd to second place. Scope rates around 5,900 investment funds (UCITS) authorised for distribution in the German market, managed by 313 asset managers (KVGs).
The KVG ranking sorts the asset managers according to their proportion of funds with a top-rating. One third of funds evaluated by Scope currently has a top rating. Specifically, 8.5 percent hold A-ratings and 25.4 percent made the B-ratings. Asset managers are considered above average when more than a third of their funds holding top ratings. There are now four German managers in the top-ten, up from just one (Deka) a year ago.
