Austria's investment fund: turbulence and declines in the first quarter
Austria's investment fund: turbulence and declines in the first quarter
In the first quarter of 2025, a decline in the managed assets of the Austrian investment fund was determined by 1.2 percent, i.e. around 2.8 billion euros. The overall assets now amount to around 227.8 billion euros, as is documented in the current quarterly report of the Austrian Financial Market Authorization (FMA). The mixed funds are particularly affected, which represent the largest category with a decline from 1.4 percent to 104.1 billion euros.
The shares of the other main categories also show negative trends. While pension funds have remained relatively stable at 62.9 billion euros, equity funds experienced a decline of 1.7 percent to 46.2 billion euros. Real estate funds even recorded a decline from 4.5 percent to 7.7 billion euros. In this context, however, it is important to mention that in the 同 quarter of 624 million euros, net inflows could be achieved in the 2,102 Austrian funds approved for sales. The main driver of these inflows was equity funds, which were increased by 1.088 billion euros, as well as pension funds with a positive development of 215 million euros. In contrast, there are net drains at real estate funds of 347 million euros and at mixed funds of 325 million euros.
ESG guidelines and adjustments
Another important aspect in the fund landscape is the upcoming implementation of a new European guideline for the ESG name for funds. According to OTS, at least 80 percent of the assets managed by Funds that imply ESG goals actually correspond to it in order to continue to be able to lead ESG terms in the name. Of the 239 Austrian funds affected by these guidelines, 186 adapt their fund provisions, while 53 funds give up or close the ESG reference in the name.
The realignment of the fund names is part of a larger strategy that aims to ensure clear and consistent communication through sustainable investments. The change in the guidelines stipulates that funds that use terms such as "sustainable", "impact" or "transition" must achieve demonstrable positive ecological or social effects, which increases the quality requirements for ESG investments.
trends in the sustainability range
The topic of sustainable investment has already been strongly established in Europe, including Austria. The results of the annual market monitor "Austrian ESG Funds Survey", which refers to December 31, 2023, show that over 16 percent of volumes are certified in Austrian securities funds with environmental signs or FNG seals. Around 32 percent of the funds are declared sustainable after the Sustainable Finance Disclosure Regulation (SFDR), whereby 147 funds with a volume of 32.7 billion euros are classified as an ESG fund in the narrower sense.
In addition, it should be noted that the number of certified retail funds has decreased slightly from 126 to 123, while the market share of the ESG-declared retail fund has risen from 57.1 percent to 61.5 percent. In the institutional category, 7.7 billion euros (6.4 percent of the assets) are certified, and 46.5 billion euros (38.8 percent) are declared as sustainable. The big fund companies Raiffeisen KAG, First Asset Management and Amundi Austria are the dominant players in the ESG market, whereby Raiffeisen is leading in the retail area.
In summary, the current developments in the Austrian fund market show both challenges and opportunities, especially with regard to the upcoming ESG guidelines, which will play a decisive role in the future orientation of the funds. The market segment of the sustainability or ESG funds will show an all-time high in terms of product variety, investment volumes and market shares as of Manz reported.The adjustments in the fund economy in connection with clear guidelines on ESG transparency could also set the course for increasing acceptance of sustainable investment strategies in the Austrian financial sector.
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| Ort | Österreich |
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