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Asset Management Media Center

Press Releases

01/09/19 MAINFIRST and ETHENEA combine their distribution support in new company
Frankfurt am Main, 9 January 2019 MAINFIRST Asset Management and ETHENEA Independent Investors S.A. are combining their distribution support in a newly formed company, FENTHUM S.A. Based in Luxembourg, FENTHUM is taking over the distribution support activities for both fund asset managers with immediate effect.
MAINFIRST will continue to manage the accounts of institutional investors and individual mandates for Germany and Austria directly. In this way, specific institutional requirements can be implemented easily and efficiently. Moreover, the close cooperation with the fund management and the dedicated account managers will continue to be available. 
12/13/18 EM corporate bonds: MainFirst expects solid returns over the next years and perceives interesting buying opportunities
 Frankfurt am Main, 13 December 2018. Emerging market corporate bonds should deliver solid returns in the coming years. Thomas Rutz, an Emerging Market expert at the independent financial services provider MainFirst, is convinced of this. "The fundamentals of EM companies remain strong and they have more room for manoeuvre than companies in developed countries," says Rutz. In his view, many emerging market corporate bonds are currently very attractive. Bonds in the JP Morgan Corporate Emerging Market Bond Index (CEMBI), for example, have an identical risk-reward profile to US and EUR High Yields. In addition, many EM companies still have upside potential, as they are considerably less levered. Moreover, in contrast to industrialized countries, emerging markets are still early cycle or at most in the middle of the cycle and there is, therefore, still a lot of potential. 
11/26/18 Facts in favour of Indonesia
Frankfurt am Main 26 November 2018 Since the Asian crisis of 1997/1998, investor confidence in Indonesia has been dampened. "However, the general sell-off recently lacked any factual basis," says Thomas Rutz, fund manager of the MainFirst Emerging Markets Corporate Bond Fund Balanced. "Investors are guided by their fears and not by the continued robust fundamentals. In fact, since 2010, the Indonesian economy has enjoyed considerable and continuous growth of around 5 percent per year, which makes it the G20 country with the most stable economic development. Inflation has been fairly stable since 2016, usually at around or below 4 percent. The main reason for this is a strong export business with commodities such as coal, whose prices increased by 6.6 percent in 2018 alone. In the last five years, 15 percent of coal exports went to China, which makes Indonesia one of the largest coal suppliers to a country that continues to use it as its primary energy source. “The coal market is currently under a healthy supply-demand regime and coal prices have recovered significantly since the supply-side reform introduced by the Chinese government in late 2016”, explains Rutz.  

Additional Insights

03/11/19 What does China's course mean for European investors?
China was the most developed country in the world for over 4000 years. Only in the last 400 years was this not the case. But over the last 40 years, China has been catching up again and has already overtaken the western world in many areas. The question many investors ask themselves, is how they can profit from this development. In other words, how can investors judge which changes currently offer the greatest growth potential and how can they use them to generate returns. To answer this, the team around Frank Schwarz at MainFirst has analysed general structural trends, specific Chinese developments and the country’s strategic orientation in order to be able to make the best investment decisions. Some interesting trends they found come from the area of power production and consumption. 
02/14/19 The low-interest environment returns problem – do dividend stocks offer a way out?
In a sustained low interest rate environment, dividend stocks are an essential component in maintaining real purchasing power and achieving positive returns after inflation. Dividend stocks enable investors to participate in a broad equity market and to receive continuous distributions. The low interest rate environment coupled with inflation results in a toxic mix for German investors
Real returns, i.e. the interest income after deduction of the inflation rate, of investors in Europe will in future be just around zero percent. These are the results of a recent study by the independent financial services provider MainFirst. Thomas Meier, Head of Equity Fund Management at MainFirst, describes this trend as worrying. To give one example, calculations by the Bundesbank show that the asset allocation of private households in Germany over the past ten years has enabled an average adjusted increase in value of 1.4 percent per year. Over the past 20 years, the increase in value even reached 2.6 percent per year. However, such returns can no longer be achieved today with an average German portfolio due to the ongoing low-interest rate phase. A new weighting must therefore be given to asset allocation – if money is not to dwindle away. 
01/16/19 OUTLOOK FOR 2019: ATTRACTIVE GROWTH POTENTIAL IN EMERGING MARKETS
The MainFirst Emerging Markets Team expects that given the still healthy global economy, EM is set to grow more than developed countries  Strong fundamentals point to performance potential in emerging markets 
Emerging market corporate bonds should deliver solid returns in the coming years as the fundamentals of EM companies remain strong and continue to have upside potential, as they are considerably less levered, and, thus, have more room for manoeuvre than companies in developed countries. For example, bonds in the JP Morgan Corporate Emerging Market Bond Index (CEMBI) have an identical risk-reward profile to USD and EUR high yields. Moreover, in contrast to industrialized countries, emerging markets are still early cycle or at most in the middle of the cycle and there is, therefore, still a lot of growth potential. This makes many emerging market corporate bonds very attractive. The global economy is also still in a healthy state, despite the slowing in growth it has recently seen. And the MainFirst Emerging Markets Fund Management Team, consisting of Cornel Bruhin, Dorothea Fröhlich and Thomas Rutz, do not foresee a recession in the next 12-18 months. Rather, they expect that the current business cycle will continue, albeit with weaker global growth, that positive developments on the trade front between the US and China will start to take effect, and that the Chinese measures of easing should start to affect the real economy by mid-2019. While it may still take a few months for this stabilisation to become visible, constructive outcomes of the trade negotiations should have a further positive influence on this trend. 

Videos / Podcasts

German economy cools down - Thomas Meier at n-tv
11/26/2018 / 2.31

Investing successfully in value-oriented equities from the Eurozone - 5 questions to Thomas Meier
11/15/2018 / 5:25

MainFirst Global Equities Fund - a day with the fund management
10/22/2018 / 3:23

Sustainable Dividends with Attractive Performance  – Five Questions to Thomas Meier
07/17/2018 / 4:38

Structural trends are more important than economic cycles - Five Questions to Adrian Daniel 05/11/2018 / 4:10

How to successfully invest in German SMEs – Five Questions to Olgerd Eichler
01/16/2018 / 5:14

Generating market-independent returns for investors – Five Questions for Björn Esser
12/20/2017 / 4:37

How to successfully invest in Emerging Markets using a relative value approach 
12/19/2017 / 2:50 

Benefit from Growth in the Emerging Markets - Five Questions for Thomas Rutz   
10/16/2017 / 4:10

Attractive returns through Multi Asset - Five questions to Adrian Daniel
10/04/2017 / 5:11

10 YEARS MAINFIRST TOP EUROPEAN IDEAS FUND
05/19/2017 / 4:00  

THE CURRENT SITUATION ON THE INTERNATIONAL CAPITAL MARKETS 
04/21/2017 / 3:00