Deutsches Aktieninstitut urges the EU Commission to reflect consequently the needs of companies seeking capital market finance and using derivates for risk management purposes in the Capital Markets Union. The current direction of the Capital Market Union still fails to meet this objective. This position paper has been contributed to the mid term review of the Capital Market Union project.

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In its position paper Deutsches Aktieninstitut asks the European Commission to include emloyee share ownership as a further action point in the Capital Markets Union project. It is necessary to scrutinise existing European legislation posing obstacles for the implementation of employee share plans and to abandon bureacracy and facilitate cross-border implementation of employee share plans across Europe.

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In its comments Deutsches Aktieninstitut supports the European Commission’s initiative on building a Capital Markets Union. Further to the steps proposed by the Commission the demand-side of capital markets should, however, be addressed more precisely. This applies especially to the aspect of corporate finance. In addition, a cumulative impact-assessment of the regulatory initiatives launched in the aftermath of the financial crisis is necessary in order to identify and remove barriers for ...

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In the political guidelines for the next EU Commission Jean-Claude Juncker pledges to create a European Capital Markets Union in order to improve the financing of the European economy and in order to further integrate capital markets. This paper lays down Deutsches Aktieninstitut’s perspective on what should be the guiding principles of a proper functioning Capital Markets Union. Our key message is that the perspective on capital markets regulation has to be changed: capital markets, if ...

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In 2018, the number of shareholders and investors in equity funds rose by 250,000. This is almost every 6th citizen. In total more than 10.3 million citizens or 16.2 percent of the Germans older than 14 years owned shares or equity funds, reaching the highest leven since 2007.

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The number of shareholders and investors in equity funds rised signficantly by 1.1 million to over 10 million in 2017. This equals 15,7 percent of the German population in the age of above 14 years, so that the pre-crisis level has been reached again.

 

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The equity culture in Germany takes the second hit in row. In 2014 the number of sharholders and holders of equity funds declines by 500.000 - despite of rising share prices. Only 8.4 million Germans (13.1 percent of the population) invest in the equity market. Due to the conservative structure of savings private households accumulate less wealth than they could. Deutsches Aktieninstituts therefore calls upon politicians to remove regulatory and other obstacles for share investments. The ...

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In the first half of the year 2013 the number of direct shareholders has increased by 7.1 percent. Compared to 2012 additional 323.000 people have decided to invest in shares, so that there are now 4.9 million direct shareholders in Germany (7.1 percent of the population). This is the highest number since 2003. However, in the same space of time the number of people who invest in equity-based funds has decreased. Taking both developments together, the number of indirect and direct ...

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Misunderstandings, bad feelings and a significant level of desinterest prevent Germans from investing money into shares. Even historically low interest rates have not increased their interest in equity investments. This is the core result of this study conducted by Deutsches Aktieninstitut and Börse Stuttgart. The study also develops ideas how the reservations could be overcome. The biggest push would result from the system of old age provision.

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The return triangle for employee shares developed by experts of the hkp/// group calculates returns of, by way of examples, employee share ownership programs of the indices DAX, MDAX, TecDAX und SDAX, and for companies belonging to the respective index. Based on these calculations the study displays the benefits of employee shares, which are characterised by discounts on the market value or bonus shares, provided after a given vesting period by the employer. Furthermore, the study underlines ...

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Deutsches Aktieninstitut jointly published the results of a survey among small and mid seized listed companies and capital market experts regarding the going and being public. Apart from the necessity to invest more in shares via the pension system survey participants demand debureaucratisation of the listing process and the being public. 

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Together with EY Deutsches Aktieninstitut released a guideline explaining the steps for a successful implementation of employee share schemes (planning, design, compliance, communication and administration). These steps are illustrated by corporate examples.

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The Germans still show a number of misunderunstandings about and prejudices against shares that form an obstacle for a deeper equity culture. However, the potential for improvement is higher than the number of shareholders in Germany appears to suggest. These are two core results of this study which have been conducted by Deutsches Aktieninstitut and the Stuttgart stock exchange in order to survey the additude of the German population towards share investments.

 

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By providing for sufficient diversification of an equity investment and focusing on the long term, investor can expect shares to achieve a high return, even without spending a lot of time on monitoring performance. This credo of Deutsches Aktieninstitut is shown by the Stock Triangle, which visualises the annual average return for the past 50 years for a broadly diversified portfolio of DAX equities under the assumption of an one-off investment.

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The EURO STOXX Return Triangle of Deutsches Aktieninstitut visualises the performance of an investment in equities in the European currency area under the assummption of an one-off investment. The annual average return on a broadly diversified equities portfolio - in this case, the equities in the EURO STOXX 50 - is indicated here in color for any given investment period since 1986.

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In 2014 about half a million people bid their shares or shares in funds farewell. Despite rising prices at the stock exchanges the number of share investors dropped the second year in a row. Only 8.4 million Germans, i.e. about 13 percent of the population, are invested in the share market. That is the alarming result of the newest survey of Deutsches Aktieninstitut regarding the number of shareholders in Germany.

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Shares and equity funds promote wealth building of private households. This is demonstrated by the stock triangle of Deutsches Aktieninstitut, which visualizes the peformance of the companies of the DAX over the past 50 years. The new edition is now available which adds the development of share prices and dividends in the German market in 2014.

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At the traditional Brussels reception of Deutsches Aktieninstitut the new EU Commissioner for Financial Stability, Lord Hill, and Markus Ferber, MEP, delivered speeches to more than 200 guests. Werner Baumann, President of Deutsches Aktieninstitut, outlined the expectations of the German economy on the European legislator and presented the latest positions paper of the institute „The Road to Growth: Setting Capital Markets Regulation Right”. 

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