The threatto fund managers
Germany’s fund management industry has condemned structured products as expensive. But other fund management groups, such as France’s Axa and Belgium’s KBC, have embraced them. Who’s right? By John Ferry
There are plenty of leading fund management firms that don’t like structured products. Fidelity, the world’s largest fund manager, is one heavyweight example. But a broadside from the entire German fund management industry? Overkill, surely.
That’s exactly what happened in July, however, when the Bundesverband Investment und Asset Management (BVI), the trade association for German mutual funds, issued a statement, complaining that investors that buy certificates – the most common form of
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