Raiffeisen capital investment company

Raiffeisen Kapitalanlage-Gesellschaft mbH (Raiffeisen Capital Management)
legal form	Kapitalanlagegesellschaft mbH
founding	November 1985
Seat	Mooslackengasse 12, 1190 Vienna
management	Rainer Schnabl, Dieter Aigner, Michal Kustra
Number of employees	approx. 275 (July 2019)
Branch	Financial services
Website	https://www.rcm.at/

As a wholly owned subsidiary of Raiffeisen Bank International AG, Raiffeisen Kapitalanlage-Gesellschaft mbH (Raiffeisen KAG) is part of the Austrian banking group and with a market share of around 19.3% (as of July 2019) the second largest Austrian asset manager . In addition to its home market, the fund company is also active on an international level and is represented in European markets (including Germany , Italy , CEE ). The company, headquartered in Vienna, manages around 37 billion euros in assets (as of July 2019), the majority of which are institutional customers.

history

Raiffeisen KAG was founded in November 1985 with the corporate purpose of "issuing and managing securities funds". In 1987 the subsidiary Raiffeisen Vermögensverwaltungsgesellschaft (RVG) was founded. In 1987, bond funds from bond and equity funds as well as money market funds were available to investors. The products now also included the first securities fund for large investors.

In the early 1990s, Raiffeisen Vermögensverwaltungsgesellschaft (RVG), founded in 1987, became a wholly-owned subsidiary of Raiffeisen KAG. The main task of this company is to offer asset management services to private and institutional clients in Austria with a higher fixed investment amount. In 1991 Raiffeisen KAG managed 47 securities funds. In this financial year, above-average income was generated, especially in the institutional area.

In 1996 the focus was on the core competencies of Austria and Eastern Europe, both in bond and equity management.

In 1998, Raiffeisen KAG launched Austria's first fund of funds. 50% of the new sales in 1998 were made through these securities funds. In June of the same year, Raiffeisen International Fund Advisory GmbH (RIFA) was founded as a 100% subsidiary of Raiffeisen KAG with the corporate purpose of "international sales of Raiffeisen securities funds". Regional sales focuses were initially implemented in Germany, Italy, France, Hungary and Slovakia.

From November 2002, Raiffeisen KAG and the aforementioned subsidiaries appeared under the common umbrella brand Raiffeisen Capital Management. The same applies to Raiffeisen Immobilien KAG, which was newly founded in 2003 (also a 100% subsidiary), with the corporate purpose of managing real estate investment funds.

In 2008/2009, due to the prevailing financial market crisis, the company implemented a restructuring program that brought organizational changes and a stronger focus.

In 2013 Raiffeisen KAG acquired a 75% stake in Raiffeisen Salzburg Invest Kapitalanlage GmbH (RSI) from the Raiffeisen Association Salzburg (RVS). In autumn 2013, Raiffeisen KAG strategically positioned itself as an asset manager with a focus on sustainability and began to integrate sustainable investing even more strongly into all investment processes. For this purpose, inter alia. the fund management expanded to include the "Sustainable Investments" department.

In the same year, Raiffeisen Zentralbank AG (RZB) took over the eight Raiffeisen Landesbanken, their 50% stake in Raiffeisen KAG and thus became 100% owner of the company.

In 2014, a strategic reorientation and a streamlining of the structures followed. The two subsidiaries Raiffeisen Vermögensverwaltungsbank AG and Raiffeisen International Fund Advisory GmbH, founded for international sales, were integrated into Raiffeisen KAG.

With the merger of Raiffeisen Zentralbank Österreich (RZB) and Raiffeisen Bank International AG and the associated change of ownership in 2017, Raiffeisen KAG expanded its competencies and tasks in the area of asset management and took on strategic asset management - Management companies of the RBI Group in CEE.

In September 2018, Raiffeisen KAG took over the remaining 25% stake in Raiffeisen Salzburg Invest KAG (RSI) and is therefore the 100% owner. At the beginning of June 2019, the FMA approved the spin-off of the fund management sub-division from RSI (as the transferring company) to Raiffeisen KAG (as the acquiring company). This implies the universal succession and the transfer of the management and the volume of the 20 RSI investment funds to Raiffeisen KAG.

Investment funds

Overall, more than 95% of the total fund volume is managed in-house in Vienna. On the bond side, the focus is on euro government bonds and global government bonds as well as corporate bond funds (including high-yield funds). In addition, CEE and global emerging markets bond funds are managed. Further focal points are the areas of multi-asset strategies and manager selection. On the equity side, not only global emerging markets, but also the equity markets of Europe are among the managed asset classes.

sustainability

With the launch of the Raiffeisen Ethics Equity Fund (today: Raiffeisen Sustainability Equities) in 2002, Raiffeisen KAG had taken sustainability into account in its product range. Due to a lack of demand, the fund remained a niche product with a small volume, which, however, was seriously pursued with the establishment of an ethics committee and the acquisition of external research (oekom research).

In 2007 Raiffeisen Bank International AG founded the Raiffeisen Climate Protection Initiative (today: Raiffeisen Sustainability Initiative, RNI), of which Raiffeisen KAG is a founding member. The RNI sees itself as a platform, service and agency for all activities of its members in the field of sustainability. It supports its members in the conception, implementation and communication of measures on this topic. The initiative focuses on promoting sustainability and raising awareness accordingly.

With the signing of the UN-PRI and the establishment of its own sustainability team in 2013, Raiffeisen KAG declared sustainability as a new focus. Around 12% of the total volume is now managed sustainably (July 2019).

The sustainably managed product portfolio of Raiffeisen KAG includes both public funds and mandates (special funds) that take ESG criteria into account. The company now has a number of sustainability funds (mutual funds) with different risk-return profiles in its product range. There are also funds with a specific focus, such as green bonds (pension funds) and other special funds.

The sustainable investment process of Raiffeisen KAG goes beyond the mere application of exclusions. It is based on the three levels of ESG integration: avoid, support and influence. The interaction of all three elements, if possible, is a prerequisite for the management of sustainable funds. Allegedly, the financial evaluation and the potential of the title also flow into the investment decision.

The expansion of the integration of ESG principles is being promoted in all Raiffeisen KAG funds. For all mutual funds z. B. entered into a commitment to exclude investments in agricultural commodities and live cattle as well as controversial weapons. In 2017, the exclusion of companies whose business consists mainly of the supply or use of coal was implemented. Compliance with these exclusions is checked.

Dealing with the topic of sustainability should be confirmed by international labels, including the FNG seal and the Austrian eco-label.

Job profile

Sustainable investments
Euro government bonds and global government bonds
Corporate bonds, investment grade and high yield bonds
Emerging market bonds
Multi asset strategies
Emerging market stocks
European and global stock markets
Manager Selection

Web links

Website

Individual evidence

^ Raiffeisen Kapitalanlage GmbH: Investment Future. Raiffeisen Kapitalanlage-Gesellschaft mbH, accessed on August 20, 2019 .
^ Raiffeisen Kapitalanlage-Gesellschaft mbH: Fund overview. Retrieved August 20, 2019 .
↑ Raiffeisen Sustainability Initiative: Responsibility for the Future. Retrieved August 20, 2019 .
↑ Principles for Responsible Investment (UNPRI). Retrieved August 20, 2019 .
↑ ESG Environment Social Governance, sustainability criteria for the environment, social affairs and corporate governance
^ Society for quality assurance of sustainable investments: FNG seal 2019. 2019, accessed on August 20, 2019 .
↑ Austrian Ecolabel: Raiffeisen Kapitalanlage-Gesellschaft mbH Federal Ministry for Sustainability and Tourism (BMNT), accessed on August 20, 2019 .

[1] Raiffeisen Kapitalanlage GmbH: Investment Future. Raiffeisen Kapitalanlage-Gesellschaft mbH, accessed on August 20, 2019 .

[2] Raiffeisen Kapitalanlage-Gesellschaft mbH: Fund overview. Retrieved August 20, 2019 .

[3] Raiffeisen Sustainability Initiative: Responsibility for the Future. Retrieved August 20, 2019 .

[4] Principles for Responsible Investment (UNPRI). Retrieved August 20, 2019 .

[5] ESG Environment Social Governance, sustainability criteria for the environment, social affairs and corporate governance

[6] Society for quality assurance of sustainable investments: FNG seal 2019. 2019, accessed on August 20, 2019 .

[7] Austrian Ecolabel: Raiffeisen Kapitalanlage-Gesellschaft mbH Federal Ministry for Sustainability and Tourism (BMNT), accessed on August 20, 2019 .