Posts tagged "RREEF"
Can Deutsche Bank make Asset & Wealth Management Work?

Can Deutsche Bank make Asset & Wealth Management Work?

Deutsche Bank has said it will need to increase its Ultra High Net Worth clients by 50% by 2015 in order to meet the goal of doubling the unit’s 2011 profit level.[1]  However, this will be no small challenge for the bank.  Less than a year ago, Co-CEO Anshu Jain spoke plainly to Bloomberg:  “If you particularly look at the ultra-high net worth coverage model, the Swiss firms and Goldman Sachs, to name three of our competitors, do a far better job.”  Deutsche Bank ranks 8th in the world by AUM of global private banks, according to Scorpio Partnership Private Banking Benchmark 2013. {read more}
Deutsche Bank Year in Review: 2012

Deutsche Bank Year in Review: 2012

It has been a year of transition at Deutsche Bank. After ten years as CEO, Dr. Josef Ackermann handed the reins to the world’s largest bank by asset to Anshu Jain and Juergen Fitschen at the end of May. The new co-CEOs promise “culture change” and a campaign to rebuild public trust in Deutsche. But by the end of the year, it became clear that it would be difficult for the new leaders to “escape their past” as the bank slid into “a swamp of scandal” (in the words of Der Spiegel). {read more}

RREEF Real Estate Business Contracting In Expanding Market

How will RREEF sustain itself while shrinking in markets positioned for growth? RREEF reported a decrease of $5 billion in assets under management (AUM) between December 31, 2011 and June 20, 2012, from $57.4 billion to $52.4 billion, according to documents filed with the SEC. The value of real property under management in the Americas dropped by 6% during the six month period and the volume of real estate securities RREEF managed dropped by 12%. These two categories represent $2.9 billion of RREEF’s $5 billion reduction in AUM. This reduction comes in the context of aggregate NFI-ODCE core open-ended fund entry queues of over $6 billion as of March 2012. Preqin Ltd. reported recently that 37 percent of institutional investors are planning to increase the amount of capital they deploy to private real estate funds in the next 12 months, and 17 percent are planning to invest the same amount.... {read more}
RREEF Faces $1.35b In Terminations By Pension Funds

RREEF Faces $1.35b In Terminations By Pension Funds

Recently, a number of public pension funds have decided to terminate investments with RREEF, citing organizational uncertainty, staff turnover, and unsatisfactory performance. At least eleven pension funds have terminated investments with RREEF since January 2011, including the Wisconsin State Investment Board, MassPRIM, CalPERS, Oregon PERS, and IndianaPRS, according to public documents. This amounts to $1.35 billion in lost assets under management (AUM) for RREEF.  “These conditions are not conducive to clients investing money,” Kevin Faxon of J.P. Morgan Chase told Pensions & Investments in March 2012.  For more details, see our latest report, “RREEF Faces $1.35b In Terminations From Pension Funds Since Start of 2011.”       {read more}