Vanguard, for the first time has ranked first in Scope’s ranking of large asset managers for Q3 that are authorised for distribution in Germany. Scope rates around 6,000 UCITS funds and bases its table on the company’s proportion of funds with a top rating.
According to Scope “ The share of Vanguard funds with a top rating rose from 50 percent to 58 percent, thanks mainly to the positioning of its product range.”
In order to receive a position on the table, the company must have at least 25 rated funds in Germany. Vanguard offers multiple passive strategies focused on US and global equities in the jurisdiction.
Passive funds are becoming increasingly popular and due to this are achieving top ratings. US equities for example, have seen few active funds outperform passive as managers have found it hard to beat the market's prolonged bull run.
Vanguard only entered the large asset manager category a few months ago, as it had fewer than 25 rated funds for distribution in Germany.
MFS came in second after making a huge jump in the table. It moved from tenth place to second as its top-rated funds moved from 47 percent in Q1 to 57 percent for Q3.
BlackRock, the world's largest asset manager which has $6.3 trillion in assets came tenth.
Only one new entry found itself on the table for this quarter, that company was Union Investment. Its share of top-rated funds rose from 45 percent to 50 percent, moving the company from 13th position to 10th.
Allianz GI came crashing out of the top ten to 12th place despite a slight improvement in Q2 as it rose from 48 percent to 49 percent.
Scope gives the asset managers different levels from A to E for its rankings. Top ratings are A and B.
