Union Investment
{{Short description|German asset management firm}}
{{Primary sources|date=October 2019}}
{{Infobox company
| name = Union Asset Management Holding AG
| logo = File:Union Investment.png
| image = Frankfurt.Maintor Porta.20150605.jpg
| image_caption = Union Investment headquarters in Frankfurt am Main.
| trade_name = Union Investment
| type = Subsidiary
| industry = Investment management
| foundation = {{start date and age|1956|01|26|df=y}}
| location_city = Frankfurt
| location_country = Germany
| key_people = Hans Joachim Reinke (CEO)
| aum = {{decrease}} €486.9 billion {{small|(2024)}}{{cite web|url=https://www.union-investment.com/about-us#AssetsUnderManagement|title=Assets under Management (total)|website=union-investment.de|date=30 September 2024}}
| parent = DZ Bank
| homepage = {{URL|www.union-investment.de}}
}}
File:View of the Union Investment-Skyscraper at a sunny winter day 2013.jpg
Union Asset Management Holding AG ({{IPA|de|uˌni̯oːn ɪnˈvɛstmɛnt|-|De-Union Investment.ogg}}) is the investment arm of the DZ Bank Group and part of the cooperative financial services network. It was founded in 1956 and is headquartered in Frankfurt.
Trading in open-end funds occurs in part through the 1,101 credit unions in Germany (Volksbanken Raiffeisenbanken Co-operative, including Sparda-Banks, PSD-banks, etc.)[http://www.bvr.de/p.nsf/index.html?ReadForm&main=4&sub=20 "Genossenschaftsbanken"] {{webarchive |url=https://web.archive.org/web/20130626122300/http://www.bvr.de/p.nsf/index.html?ReadForm&main=4&sub=20 |date=June 26, 2013 }}, Bundesverband der deutschen Volksbanken und Raiffeisenbanken, retrieved 27 July 2013 {{in lang|de}} and in part through the external services of Bausparkasse Schwäbisch Hall AG, DZ Bank Group's building society.
The primary shareholders in Union Investment are DZ Bank with 54.44% and WGZ Bank (the central bank of the credit unions in the Rhineland and Westphalia) with 17.72%.[http://unternehmen.union-investment.de/-snm-2130706433-1353410428-065f200000-0000000000-1353412158-enm-Unternehmen/UMH/Kennzahlen/Gesch_ftsbericht/GB_UMH_Korr_PDF.pdf Geschäftsbericht 2011], Union Investment (pdf), p. 161. {{in lang|de}} Other shareholders include BBBank and the credit unions through their membership associations.
{{As of|2019|12|31|}}, Union Investment has self-declared assets under management of approximately 368.2 billion euro.[https://unternehmen.union-investment.de/startseite-unternehmen/ueber-uns/unser-unternehmen/kennzahlen.html Kennzahlen], Kennzahlen im Überblick, Union Investment, retrieved 4 April 2020 {{in lang|de}}
Subsidiaries
Union Asset Management Holding AG has 15 subsidiaries,[http://unternehmen.union-investment.de/Unternehmen/UMH/Unternehmensprofil/T_chter_Beteiligungen/index.html "Tochtergesellschaften und Beteiligungen"] {{webarchive |url=https://web.archive.org/web/20130318024949/http://unternehmen.union-investment.de/Unternehmen/UMH/Unternehmensprofil/T_chter_Beteiligungen/index.html |date=March 18, 2013 }}, Wer wir sind, Union Investment, retrieved 27 July 2013 {{in lang|de}} including:
- Attrax S.A. in Luxembourg for funds brokerage, distribution, share administration and custody services
- Union Investment Institutional GmbH for institutional clients
- Union Investment Institutional Property for institutional property investments
- Union Investment Luxembourg S.A. in Luxembourg
- Union Investment Privatfonds GmbH offers open-end funds to private investors
- Union Investment Real Estate GmbH (formerly DIFA Deutsche Immobilien Fonds AG) is the second largest German property investment association
- Quoniam Asset Management GmbH follows a quantitative approach to investment and manages funds for institutional clients
History
The Union-Investment-Gesellschaft mbH was the third German investment association to be founded, on 26 January 1956, by 14 credit unions. The UniFonds stock fund was created the same year as its first open-end fund. The first offering of investment vehicles outside Germany was in 1961, in Belgium.
Co op Immobilienfonds Verwaltung AG was founded in Hamburg in 1965 and in 1980 renamed Deutsche Immobilien Fonds AG or DIFA. The initial stockholders were the Central Institute of Consumer Cooperatives and the Bank für Gemeinwirtschaft. In 1966 DIFA launched an open-end property fund, Co op Immobilienfonds, later renamed DIFA-Fonds Nr. 1 (DIFA Fund No. 1). Starting on 15 January 2007, DIFA did business under the name Union Investment Real Estate AG; in 2009 it was converted to a GmbH.[http://realestate.union-investment.de/-snm-0184244822-1239199062-040ec00000-0000000066-1239260042-enm-docme/unternehmen/difa/wirueberuns/Chronik/index.html Chronik] {{webarchive |url=https://web.archive.org/web/20100513191220/http://realestate.union-investment.de/-snm-0184244822-1239199062-040ec00000-0000000066-1239260042-enm-docme/unternehmen/difa/wirueberuns/Chronik/index.html |date=May 13, 2010 }}, Union Investment Segment Immobilien, retrieved 27 July 2013 {{in lang|de}}
Since 1967, Union Investment has offered management of investment accounts. In 1968, it offered its first retirement fund, UniRenta. In 1969, it reached a fund capitalization of 1 billion DM.{{Cite web|url=http://union-investment.biz/international/docme/unternehmen/ausland/com/profil/historie/index.html?nm_caller=crumbbar|title=Union Investment - Corporate history|website=union-investment.biz|access-date=2017-06-19}}
Union Investment Luxembourg S.A. was founded in 1988. The total capitalization of the group was now 10 billion DM.
In April 1994 Union Investment began offering stock-based wealth management with three strategic variants: chance, growth and security. In 1996 it introduced stock-based life insurance under the name Opti Plan.
The holding company Union-Fonds-Holding AG was founded in 1999 and changed its name in July 2002 to Union Asset Management Holding AG.
Distinctions
In March 2013 Union Investment became the first investment association to be awarded five stars eleven times in a row in the investment funds guide of the German business magazine Capital.[http://www.fondscheck.de/news/Artikel-Union_Investment_Club_5_Sterne_Gesellschaften-4908371 "Union Investment im Club der '5-Sterne-Gesellschaften'"], Press release, Fondscheck.de, 12 March 2013, retrieved 27 July 2013 {{in lang|de}}
References
{{Reflist}}
External links
- [http://www.union-investment.de Union Investment website] {{in lang|de}}
{{Major asset management companies}}
{{Authority control}}
Category:Financial services companies established in 1956
Category:Investment companies of Germany
Category:1956 establishments in West Germany
Category:Companies based in Frankfurt