Skip to main content
Knowledge and Training for Financial Decision Making!

STUDIES | PERFORMANCE


Generational Change in SMEs

KfW Research
DREI VIERTEL DER KMU SEHEN MANGEL AN NACHFOLGERINNEN UND NACHFOLGERN ALS PROBLEM – GEFAHR UNFREIWILLIGER STILLLEGUNGEN
The generational change in SMEs is progressing. By the end of 2025, 16 % of small and medium-sized enterprises (SMEs) are aiming for a succession solution. But the hurdles are high, as a special analysis of the KfW SME Panel shows: Three quarters of all SMEs consider it a problem to find a suitable successor. Just under 40 % of SMEs see agreeing on a purchase price as a major hurdle. Among the approximately 600,000 SMEs aiming for succession by the end of 2025, around 165,000 face involuntary closure or at least a significant delay. The activation and support of potential takeover founders is crucial to the success of business succession in SMEs. >more


Family Office

UBS
GLOBAL FAMILY OFFICE REPORT 2022
UBS, the world’s leading wealth manager, today announced the launch of the Global Family Office Report 2022, which surveys 221 single family offices around the world. The report is the largest and most comprehensive of its kind, with the family offices surveyed averaging a total net worth of USD 2.2 billion. The report shows that family offices globally are in a new era of strategic asset allocation (“SAA”) as high inflation, central bank liquidity and rising interest rates compel them to review their investment options. They are reducing fixed income allocations and increasing investments in private equity, real estate, and private debt, sacrificing liquidity for returns. >more


KfW-Gründungsmonitor 2022

KfW Research
KFW-GRÜNDUNGSMONITOR 2022
After the corona bump in 2020, start-up activity in Germany in 2021 has risen pre-crisis level. With 607,000 start-ups 70,000 or 13 % more people started their own business than in 2020. After three years of hardly any change in the number of female entrepreneurs, in 2021 there was an above-average increase.  The Corona pandemic has ruthlessly exposed the weaknesses of traditional business models. Female and male founders have obviously reacted to this: Significantly more start-ups are digital and internet-based, with shares of 31 % (digital) and 41 % (internet-based). >more


Global Asset Management 2022

BCG
FROM TAILWINDS TO TURBULENCE: GLOBAL ASSET MANAGEMENT 2022
The past few decades presented an outstanding market environment for the asset management industry. Global assets under management (AuM) rose at a generally steady pace between 2001 and 2021, thanks largely to the strength of the world’s equity markets, which were able to rebound even after several severe downturns. And 2021 was even stronger. Global AuM grew at 12% last year, to more than $112 trillion, a growth rate well above the 7% average of the previous 20 years. Net flow rates were also higher than average in 2021, reaching 4.4% of total AuM, or $4.4 trillion, at the beginning of the year. In BCG’s 20th annual report on the global asset management industry, we offer a retrospective analysis of the effects of this strong market—and as the industry enters a more uncertain era, we look ahead to the expected impact of new technologies such as direct indexing, increasing investor demand for alternative products, and a focus on decarbonization. >more


Asset Allocation 2022 Q2

Invesco
THE BIG PICTURE: GLOBAL ASSET ALLOCATION 2022 Q2
Uncertainty is higher than usual due to higher interest rates and the war in Ukraine. We were already expecting a decelerating global economy and we now expect even less growth but higher inflation. We expect the best 12-month returns on equities and are boosting the allocation within our Model Asset Allocation to Overweight. Our favoured regions are the UK and emerging markets. >more


Disruption Index

Alix Partners
2022 ALIXPARTNERS DISRUPTION INDEX
When the global pandemic disordered all of our lives, it demanded new approaches to productivity, supply, consumption, and leisure, which dramatically accelerated the adoption curve for many new technologies. At the same time, the tensions caused by the pandemic also revealed a conglomeration of disruptive forces, which had been growing for years. In our third annual study of disruption, we surveyed 3,000 business executives around the globe and found that, surprisingly, despite its universal effects and immense toll in human life and suffering, the biggest challenge for CEOs going into 2022 is not COVID-19. What does concern them are the disruptive technological, societal, and economic challenges that their businesses must confront in the years ahead. >more


Disruptions

Morgan Stanley | Oliver Wyman
CLIMATE, CRYPTO, AND COMPETING IN THIS CYCLE
Wholesale banks face new uncertainties in 2022, but six market shifts will support revenue and returns over the next three years. Banks must take advantage and purposely face two major disruptions on the horizon: Climate Transition and Digital Assets. The franchise hangs in the balance. >more


Emerging Markets

Lazard
OUTLOOK ON EMERGING MARKETS
Russia’s invasion of Ukraine was a high-risk, dramatic event that continues to reshape the geopolitical map, stoke inflation, and add volatility to emerging markets equities. It’s difficult to overstate how dramatic the invasion was for the Russian market—and commodity prices. In other emerging markets countries, however, the overall decline has been relatively modest. Latin American markets like Brazil have benefited from higher commodity prices; Beyond Latin America, Saudi Arabia and South Africa have also recorded strong performance. >more


Global Assets and Military Action

Goldman Sachs
HOW MUCH RISK IS PRICED INTO GLOBAL ASSETS NOW?
The invasion of Ukraine and the escalating sanctions on Russia continue to be the dominant driver of markets. Before the start of military action, Goldman Sachs Research estimated how much geopolitical risk premium was priced into a range of global assets and estimated how those assets might move in the case of either a full de-escalation or a version of a scenario where risks flared into outright conflict. >more


ESG Pulse Check

BCG | INSEAD
THE BCG-INSEAD BOARD ESG PULSE CHECK
Board members at companies across geographies and industries understand that competitive advantage increasingly demands sustainability. And that is rapidly pushing environmental, social, and governance (ESG) issues higher on board agendas. >more


COVID-19 and SMEs

KfW Research
CORONA-BETROFFENHEIT IM MITTELSTAND NIMMT WIEDER ZU: PERSONALAUSFÄLLE HÄUFEN SICH, ABER FINANZIELLE LAGE INTAKT
The effects of the Omicron wave are becoming visible in the SME sector: In March 2022, the Corona exposure of small and medium-sized enterprises (SMEs) is on the rise again. The recovery comes to a halt (for now). Industrial SMEs and construction companies in particular are currently struggling heavily with the pandemic effects. >more


Football Money

Deloitte
FOOTBALL MONEY LEAGUE 2022
Welcome to a milestone edition of the Deloitte Football Money League (‘DFML’). Every year, DFML profiles the financial performance of the highest revenue generating clubs in world football. This year’s edition is a landmark publication for more reasons than one, as it marks 25 years of DFML and covers the first season (2020/21) to be impacted by COVID-19 from start to finish. Published less than twelve months after the end of the 2020/21 season, the Money League is the most contemporary and reliable independent analysis of the featured clubs’ relative financial performance. >more


Financial Home

Oliver Wyman
FINANCIAL HOME: WIE VERSICHERER IHRE KUNDENBEZIEHUNGEN VERTIEFEN KÖNNEN
In private money matters, many households are in disarray, with numerous service providers vying in parallel for access and customer loyalty. Many consumers want a so-called "financial home" - a central platform through which they can manage all their personal financial affairs. This is shown by our analysis in collaboration with the InsurTech Hub Munich, one of the twelve "Digital Hubs" in Germany funded by the Federal Ministry of Economics and Climate Protection. >more


Global Investment 2022

Credit Suisse
GLOBAL INVESTMENT RETURNS YEARBOOK 2022
This is an extract of the Yearbook 2022, produced in collaboration with the CSRI by Elroy Dimson, Paul Marsh and Mike Staunton. This year's edition focuses on diversification as a special topic and offers an extended dataset by adding three new markets. The full version is available on CS PLUS for clients of the bank and in hard copy upon request. >more


Proportion of Women

KfW Research
FRAUENQUOTE IM MITTELSTAND AUF NIEDRIGEM NIVEAU SOGAR RÜCKLÄUFIG: SIND IMPULSE FÜR ZUWACHS AN CHEFINNEN IN WEITER FERNE?
The proportion of women in SMEs fell to 16% last year. A total of 608,000 small and medium-sized enterprises are headed by a woman. Nine out of ten of these companies are in the service sector. At the same time, the management of a medium-sized company is increasingly attractive to female academics. The degree of academization among female owners has increased enormously. The economic importance of women-owned SMEs should not be underestimated, but remains disproportionately low due to the focus on smaller service companies. >more


Assumptions Capital Market Q1 2022

PGIM
2022 Q1 CAPITAL MARKET ASSUMPTIONS
We expect real economic growth in developed economies to continue to moderate over the next decade, as it has for the last 30 years. This is due to limited growth of the developed labor force, which is constrained by domestic demographics, and to an assumption of no significant offset from improved productivity growth. Inflation in developed markets, in contrast, is anticipated to moderate over the next 10 years, relative to the elevated rates of inflation observed in 2021, though is expected to be somewhat higher than that observed in the period following the Global Financial Crisis of 2008, and prior to the COVID-19 induced recession of 2020. >more


Pension Assets

Thinking Ahead Institute
GLOBAL PENSION ASSETS STUDY 2022
The Global Pension Assets Study estimates global pension fund assets across 22 major pension markets (the P22). These geographies now total a record US$56.6 trillion in pension assets and account for 76% of the GDP of these economies. The study, conducted by WTW and the Thinking Ahead Institute since the 1990s, includes an analysis of the seven largest markets (the P7): Australia, Canada, Japan, Netherlands, Switzerland, UK and US comprise 92% of total pension assets, unchanged from the previous year. >more


ESG and Private Marketes

PwC
2022 EU PRIVATE MARKETS: ESG REBOOT
This evolving landscape has changed the course of the global political agenda, with significant knock-on effects on global financial markets. In this new backdrop, ESG and sustainable finance will become a matter of survival to meet the needs of sustainability-conscious investors, increased regulatory requirements and societal expectations. In this context, ESG investing is evolving into a veritable paradigm shift – particularly within the EU. >more


Fintech H2 2021

KPMG
PULSE OF FINTECH H2 2021
2021 has been a remarkable year for the fintech market, with a record number of deals in every major region — including the Americas, EMEA, and Asia-Pacific. Fintech investment was incredibly strong, with both VC and PE investment soaring to record highs. The breadth of fintech solutions attracting investment continued to expand and grow, with surging interest in cryptocurrencies and blockchain, wealthtech, and cybersecurity. >more

 


Women in Boardroom

Deloitte
WOMEN IN THE BOARDROOM: A GLOBAL PERSPECTIVE
The underrepresentation of women on boards remains a key area of focus for organizations globally, but overall progress remains slow, and for women in leadership positions, even slower. The Deloitte Global Boardroom Program’s Seventh Edition of the Women in the boardroom: A global perspective report includes updates from 72 countries on gender diversity in the boardroom, exploring insights on the political, social, and legislative trends behind these numbers. While these private and public sector efforts demonstrate steps toward achieving parity, the pace of collective progress needs to pick up. >more


ESG

PwC
GLOBAL INVESTOR SURVEY: THE ECONOMIC REALITIES OF ESG
The decarbonization of the global economy poses major challenges for companies. At the same time, ESG (Environment, Social, Governance) criteria are becoming increasingly important - not only, but also for investors. Executives are challenged to steer the transformation more in the direction of sustainability and (nevertheless) achieve the returns investors are looking for. Investors, too, must contribute to reconciling sustainability and return requirements. The "PwC Global Investor ESG Survey 2021" reveals this tension. For the study, the auditing and consulting firm PwC surveyed 325 asset managers and analysts from investment companies, investment banks and brokerage firms worldwide in September 2021. >more


Post-Pandemic

Macquarie
POST-PANDEMIC: PIVOTING TO A NEW ERA
Globalisation is slowing, geopolitical tensions are elevated, and policy choices are getting harder. Get a handle on the opportunity set for 2022 and beyond, with views from around the public and private markets, including equity, fixed income and real assets. >more


Private Markets Outlook 2022

BlackRock
2022 PRIVATE MARKETS OUTLOOK
As investors navigate an unprecedented market regime, we see private market investments as well suited to the task. We believe Covid-accelerated megatrends will benefit investments of this vintage across asset classes, with robust competition for assets making deal sourcing and selection increasingly important. >more


Factor Indices

S&P Dow Jones Indices
FACTOR INDICES: A SIMPLE COMPENDIUM
Factor indices can help the clients of specialist managers disentangle how much of the manager’s performance is attributable simply to factor exposure, and how much is attributable to the manager’s stock selection beyond the factor.  Like their first-generation counterparts, factor indices can be used as both benchmarks and investment vehicles.  In the latter use, we can speak of “indicizing” a factor or set of factors—i.e., delivering in passive form a strategy formerly available only via active management. >more


Investment Outlook 2022

BNP Paribas
INVESTMENT OUTLOOK 2022
In our 2022 Investment Outlook, we seek to help investors to navigate the rapids as the global economy stabilises during the next phases of the economic recovery. We also consider the possible broader consequences for macroeconomic policy as the world tackles the social and economic challenges laid bare by the pandemic. >more


German Banking Industry

Bain & Company
DEUTSCHLANDS BANKEN 2021: WIE DIE RENDITEWENDE GELINGT
The seventh Bain analysis on the development of the German banking industry shows that falling costs and stable earnings saved banks from the red in the pandemic year 2020. At 1.1 percent, return on equity was slightly above the previous year's level for the first time in many years. Despite progress in realignment, however, this has remained inadequate at many groups of institutions. >more


Mixed Leadership

EY
MIXED LEADERSHIP-BAROMETER JANUAR 2022
The number of female board members at listed companies in Germany has risen to a new high: Of the total of 700 board members, 94 are female. This means that the number of female board members rose by 20 within a year. The proportion of female board members increased by 2.4 percentage points year-on-year to 13.4 percent - this is also an all-time high in the period under review since 2013. Since January 2017, the proportion of women has doubled from 6.7 percent to 13.4 percent. >more


2022 Global Outlook

BlackRock
2022 GLOBAL OUTLOOK: THRIVING IN A NEW MARKET REGIME
We are entering a new market regime unlike any in the past half century: We see another year of positive equity returns coupled with a down year for bonds. But we have dialed back our risk-taking given the wide range of potential outcomes in 2022. >more


ESG and Government Bond Indices

FTSE Russell
APPLYING ESG FACTORS TO GOVERNMENT BOND INDICES
As we move towards more sustainable government bond indices, it is important to bear in mind that the higher the tilt strength, the higher the increase in the Sustainability profile score. Applying ESG factors to government bond indices remains a challenge as it requires multiple trade-offs. The search for higher ESG performance can come at the expense of higher Active Share and tracking error. >more


Real Estate 2022 Outlook

PGIM
2022 OUTLOOK: REAL ESTATE TRENDS SET TO SHAPE THE NEXT 12 MONTHS
As worrying new COVID-19 variants emerge, the pandemic is still far from over, while concerns about higher inflation and rising market interest rates persist. Nevertheless, the backdrop for real estate markets in 2022 is one of transition to a new phase of recovery and expansion. Leading indicators are pointing upward, and even though the gap between the best- and worst-performing parts of the market remains wide, most sectors and regions are set for sustained or improved investment performance in the year ahead. >more


Long-Term Capital Markets 2022

J.P. Morgan
2022 LONG-TERM CAPITAL MARKET ASSUMPTIONS
In the 26th edition of the research, expected returns remain low by historical standards, with a 60/40 portfolio projected to return just 4.3 percent, suggesting that investors need to look beyond traditional asset markets to find higher returns. Additionally, this year's research argues that while real bond yields will continue to lag, mispriced liquidity risk could make real assets serial winners. >more


You are not a member?

Sign up here

Login

Forgot your password?