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 15 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 15 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.
FERI uses the three-step manager check to assess the quality and performance of asset managers.
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.
To ensure the success of the investment, FERI provides guidance on risk management processes. These range from the preparation of a risk manual and risk inventory to regular reporting and commentary.
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 230 employees in all areas of the investment process, we create significant added value for our clients through our range of consulting services.
Asset allocation – an overview of the latest market developments. FERI offers optimal, quantitative and qualitative support for decision-making, both in terms of strategic and tactical asset allocation.
FERI’s economic expertise is used in high-profile companies for operational planning and market research and in numerous banks for risk management from an industry perspective. We offer our clients the following services: worldwide economic data; global macro research; global economic, interest rate and currency forecasts; country and sector outlooks; FERI sector rating.
Set this page to:
CONTACT
Telephone
Contact
FERI Trust GmbH

T +49 (0) 6172 916-3600
F +49 (0) 6172 916-9000
ft@feri.de


Rathausplatz 8-10
D-61348 Bad Homburg

Contact form

Thank you for your message. We come back to your request.

Failed to send the message!

Wrong input!

Telephone CONTACT
Contact CONTACT
Login
Languages
FERI Trust GmbH

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


D-61348 Bad Homburg
Rathausplatz 8-10

Contact form

Thank you for your message. We come back to your request.

Failed to send the message!

Wrong input!

Set this page to:

Markets Update September 2022 - Everything points to an intact bear market

Bad Homburg, 1/1/0001
by Dr. Eduard Baitinger
  • Inflation and interest rate fears on the rise
  • End of monetary tightening not in sight
  • Large investors expand their cash quotas

The tentative interim high on the global stock markets came to an abrupt end after higher than expected inflation rates were reported from the USA for August. Although there has recently been an easing in energy and producer prices and disruptions in supply chains have eased, inflationary pressures remain high. It is therefore reasonable to assume that an increasingly large share of inflation is structural in nature. Monetary tightening is thus likely to be longer and in higher doses than originally assumed. For example, the Fed is expected to raise the key interest rate by at least 75 basis points on Wednesday. At the next but one meeting of the Fed in November, another rate hike of 50 or 75 basis points is expected. Against this backdrop, the outlook for the technology-heavy US equity market in particular is becoming gloomier.

Noticeable withdrawal of liquidity slows down US equity market

Due to the high weighting of the technology sector, the US equity market as a whole is more liquidity- and interest-driven than other equity markets and suffers disproportionately from the restrictive monetary policy. This currently results in a paradoxical situation: although the U.S. economy is doing relatively well by global standards in terms of fundamentals, these economic advantages do not automatically lead to the U.S. equity market outperforming. Accordingly, the withdrawal of liquidity from the stock market has trumped fundamental factors so far this year. However, once the end of Fed rate hikes becomes foreseeable, U.S. equities could come back very strongly in return. But that is not likely to be the case until 2023.

Trend reversal not in sight

Things are not looking any better for the global stock markets at present. Both technical and fundamental factors point to an intact bear market. Institutional investors, for example, who could stabilize the markets with large-volume purchases, are currently holding back strongly. Instead, they are expanding their cash quotas, which is also being rewarded by rising interest rates at the short end. At the same time, global corporate earnings are likely to decline further in the coming months. Since the broad mass of investors has now understood the situation, short-term recoveries are used to sell stocks. This prevents a sustainable turnaround from forming on the markets. For the time being, professional investors should therefore aim for a flexible opportunistic asset allocation and dynamic risk management.


About Dr. Eduard Baitinger

Dr. Eduard Baitinger has been Head of Asset Allocation in the FERI Group since 2015. He is responsible for quantitative asset allocation at FERI Trust, where he also manages and coordinates numerous research projects. In close coordination with the FERI Board of Directors and Chief Investment Officer, Dr. Heinz-Werner Rapp, he also represents the investment strategy of the FERI Group and its communication to clients and customers of FERI.

Before joining FERI, he was a research assistant at the University of Bremen and financial analyst for an asset manager. In 2010 he completed his studies at the University of Bremen, accompanied by a stay abroad in New York, as a graduate economist. In 2014, Eduard Baitinger received his doctorate with distinction on new approaches to quantitative asset management. Dr. Baitinger publishes regularly in academic journals and acts as academic reviewer.

About FERI

Founded in 1987 and headquartered in Bad Homburg, Germany, the FERI Group has developed into one of the leading investment houses in the German-speaking area. FERI offers tailor-made solutions for institutional investors, family assets and trusts in the following areas:

The FERI Cognitive Finance Institute was formed in 2016. It is the strategic research centre and creative think tank of the FERI Group. The Institute focuses on innovative analyses and the development of methods for long-term oriented economic and capital market research. 

FERI and MLP currently manage assets of about EUR 55 billion in the Group, including round about EUR 15 billion in alternative investments. The FERI Group is headquartered in Bad Homburg and has locations in Dusseldorf, Hamburg, Luxembourg, Munich, Vienna and Zurich.



Media relations contact

Katja Liese von Wangenheim

Member of the Management Board

Head of Press & Communications

T +49 (0) 6172 916-3192

F +49 (0) 6172 916-1192

presse@feri.de

FERI AG

Rathausplatz 8-10

D-61348 Bad Homburg

Baitinger Eduard Presse 1125x1500px