FERI expects demand for alternative investments such as private markets (private equity, infrastructure, real estate) and hedge fund investments to continue rising strongly in the coming years. FERI currently manages alternative investments exceeding 18 billion euros, making it one of the largest providers in Germany.
For more than 20 years, we have been offering our clients individually tailored risk management solutions. Market risks are actively managed according to risk and return parameters jointly defined in advance.
In institutional asset management, FERI offers a broad range of asset management services for institutional investors. Our investment specialists have many years of experience in all asset classes and follow a multi-asset approach ranging from the development and implementation of individual investment strategies to quantitative risk management and control.
FERI expects demand for alternative investments such as private markets (private equity, infrastructure, real estate) and hedge fund investments to continue rising strongly in the coming years. FERI currently manages alternative investments exceeding 18 billion euros, making it one of the largest providers in Germany.
For more than 20 years, we have been offering our clients individually tailored risk management solutions. Market risks are actively managed according to risk and return parameters jointly defined in advance.
FERI is a byword for comprehensive, individual, transparent and sustainable advice and support for private clients. With over 30 years of experience, we offer private investors a wide range of asset management services.
For us, your requirements and needs are the basis for planning and optimising your asset structure. We always keep an eye on all legal and tax aspects and try to bring about improvements for you. As we work strategically on a long-term basis, we place a strong focus on comprehensive future and succession planning. Foundation consulting is also part of our strategic asset structuring.
The FERI family office is the strategy advisor for your assets. We offer services ranging from strategic asset planning, implementation consulting and results monitoring and controls, through risk management and asset protection strategies to sustainability consulting.
With the help of an asset liability management study, FERI can show you whether a financing system in its current form is sustainable and whether sufficient risk carriers are available or whether a modification of the system is advisable.
During the transition to a sustainable future, FERI guides and supports you in the implementation of a sustainability concept and in the implementation and further development of existing solutions.
FERI’s comprehensive support ranges from optimal asset allocation and investment planning to appointing managers, reporting, monitoring and controls. Clear structures always ensure well-documented decisions and transparent investments.
FERI carries out a cost check in three steps and determines the costs for mandates, depositaries and investment management. In times of persistently low interest rates, these are a key factor in the performance of any portfolio.
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FERI evaluates current portfolios in terms of expected returns and risk and checks whether the allocation still meets the requirements regarding yield and available risk budget. In addition, FERI presents you with alternative portfolios that promise higher returns with the same risk or offer similar opportunities for returns with reduced risk.
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In order to identify the risk sources and their distribution in the portfolio of an investment, FERI prepares a risk sheet, which makes this information transparent and clear. It clearly shows what share of the overall risk is attributable to the individual investment funds, segments and asset classes.
FERI offers its clients the entire process of investment consulting and has continuously developed it since the 1990s. Thanks to our extensive experience, self-developed research and analysing tools and the access to around 250 employees in all areas of the investment process, we create significant added value for our clients through our range of consulting services.
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FERI AG

+49 (0) 6172 916-3600
+49 (0) 6172 916-9000
fag@feri.de


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Rathausplatz 8-10

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Germany as a "problem bear" in the European energy market


by FERI Cognitive Finance Institute
  • German search for substitute for Russian natural gas creates upheavals across Europe
  • Tenfold increase in electricity prices for 2023 on the futures markets
  • Exorbitant rise in European electricity prices, strongly driven by Germany
  • FERI Cognitive Finance Institute calls for rapid flexibilization of the European energy market

Europe has a massive problem: In addition to the European gas prices, the electricity market has now also decoupled from any normality. The futures contracts for base load electricity in 2023 have recently increased almost tenfold. The exorbitant price increase not only for gas, but now also for electricity, is acutely endangering European economic development. “The current chaos on the energy market is of course primarily a consequence of the Russian war of aggression against Ukraine. What is far less well known: Germany plays an inglorious role in the explosion in European energy prices," says Dr. Heinz-Werner Rapp, founder and director of the FERI Cognitive Finance Institute.

The legacy of failed German energy policy

Germany in particular is currently suffering from the severe shortage of gas supplies. This is a direct result of the German energy policy that has failed completely for many years. Both the abrupt phase-out of nuclear power in 2011 and the end of coal-fired power generation were decided without seriously considering the growing German energy demand. As a result, Germany has become more dependent on Russian natural gas than almost any other European country. The early criticism of the Nord Stream 2 gas pipeline from other EU countries clearly shows that Germany has become entangled in an untenable position. “Putin's war against Ukraine has now abruptly burst the German energy illusion. The violent shock waves on the European energy market are therefore strongly driven by Germany,” says Rapp.

Germany causes dangerous "second-round effects"

One of the special features of the European energy market is that the price of electricity is also dependent on the price of natural gas, which has meanwhile risen massively. This is a consequence of the so-called merit order system, in which the most expensive type of energy production - currently gas - also determines the level of electricity prices. “Germany is currently trying to procure natural gas on the open market, regardless of the price. The price of natural gas is therefore continuing to rise, but it is also driving up European electricity prices massively,” explains Rapp. Futures market prices for electricity in 2023 recently showed an increase of around 1,000 percent. Applied to oil, this would correspond to a price jump to $1,000 per barrel in 2023. “The price explosion in the European gas and electricity market is a major threat to Europe's economic development. Unfortunately, the chaos is being strongly driven by Germany, as a result of years of very naïve energy policy,” explains Rapp. Germany must therefore do everything possible to quickly make the European energy market more flexible. Economics Minister Habeck has now recognized the problem and is planning to decouple electricity prices from the gas market. According to the assessment of the FERI Cognitive Finance Institute, if there is no such flexibility, Europe would not only face a cold winter, but also a sharp recession with numerous company bankruptcies.


About FERI Cognitive Finance Institute

FERI Cognitive Finance Institute is the strategic research centre and creative think tank of the FERI Group, with a clear focus on innovative analysis and method development for long-term aspects of economic and capital market research. The institute uses the latest findings from areas such as behavioural economics, complexity theory and cognitive science.

The FERI Cognitive Finance Institute is backed by an experienced team with an interdisciplinary background, many years of research practice and specific expertise. In addition, it has access to a top-class network of external experts from science and academic think tanks.

The Institute was founded in 2016 by Dr. Heinz-Werner Rapp. Rapp studied economics at the University of Mannheim and received his doctorate on psychologically influenced investor behaviour ("Behavioral Finance"). He has worked on alternative capital market models for many years and has developed key principles of the "Cognitive Finance" theory.

FERI has operated as an independent investment house since 1987, with a focus on investment research, investment management and investment consulting. The name FERI stands for "Financial & Economic Research International".



Media relations contact

Marcel Renné

Chairman of the Board & CEO

Rathausplatz 8-10

D-61348 Bad Homburg