Highlights: 13.8 billion euros net asset inflow raised in mutual business: No. 1 on a competitor comparison – fund assets rise to 75 billion euros

- Product quality and sales excellence as guarantors of success: significant rise in sales at all partners - Outstanding performance in the equity and bond fund segments

- Innovations: purposeful expansion of the product range – Strategic extension of the fund portfolio to include certificate funds

With a net asset inflow of 13.8 billion euros, in 2005 dit | Allianz Dresdner Global Investors collected more money in mutual security funds than any other fund company in Germany, and thus advanced to No. 1 in terms of new business. Almost one in three of the euros invested in mutual security funds went to products of dit | Allianz Dresdner Global Investors (market share 30.4 percent). Compared to the preceding year, fund assets rose by a third in 2005 to reach 75 billion euros.

Besides the sales concept of an integrated financial services provider, it was primarily a good performance by the equity and bond funds that fuelled the successful sales drive.

In comparison to the preceding year, all sales partners reported significant growth rates in new business. Mutual security fund business brokered through Allianz rose for the fourth year in succession, and in the period under review increased from 591 million euros to 934 million euros. Following net fund outflows in 2004, Dresdner Bank last year achieved inflows again, amounting to 1.9 billion euros (2004: -448 million euros). In-house sales with partners outside the group developed with dynamic vigor: through this sales channel, the funds managed by dit | Allianz Dresdner Global Investors booked inflows of 6.9 billion euros (2004: 720 million euros). International sales, moreover, on the principal markets of Switzerland, the UK, Spain, Portugal and the nations of Eastern Europe, are gaining steadily in importance.

The outstanding sales performance in 2005 results from across-the-board success in all asset categories. As in 2004, the Euro Bond Total Return Fund generated the most money, at 4.3 billion euros. Among the mixed funds, the dit-Allianz Flexi bond fund, with 2.2 billion euros of net funds raised, topped the list of best-selling funds on a competitor comparison. And among the equity funds, too, no fewer than three of the group's products rank among the best-selling equity funds in Germany: the dit- High Dividend Discount, the dit-Wachstum Euroland and the dit-Japan Pazifik Fund.

In the past year, dit | Allianz Dresdner Global Investors consolidated its dominant ranking in the bond fund segment. With an inflow of 11.4 billion euros (2004: 5.4 billion euros), bond funds topped investors' shopping lists. Fund assets rose in this segment to 41.5 billion euros (2004: 30.3 billion euros). Money market funds collected 1.9 billion euros (2004: -1.6 billion euros; fund assets: 9.3 billion euros; 2004: 6.2 billion euros), mixed funds, following outflows in 2004 ( -404 m) achieved inflows amounting to 776 m (fund assets: 6.3 billion euros; 2004: 4.9 billion euros). From equity funds, investors withdrew a net balance of 265 m (2004: -1.6 billion euros). At the end of the year, the fund's assets in this category totaled 17.5 billion euros (2004: 14.1 billion euros).

The successful sales figures were primarily attributable to the excellent product quality of the mutual funds. Over all asset categories, the funds achieved above-average results. Among the bond funds, the proportion of assets that performed better than the benchmark in the 1- and 3-year periods exceeded 90 percent. And in the equity fund segment, too, the ambitious outperformance targets of 60 and 70 percent for the 1- and 3-year periods respectively were also achieved. With these results, dit | Allianz Dresdner Global Investors ranks among the best-performing assets managers in Germany.

Last year, too, dit | Allianz Dresdner Global Investors purposefully expanded its range of products, and launched seven new ones (four equity, one mixed, and two bond funds). With its StocksPlus strategy, operating on the total return concept, dit | Allianz Dresdner Global Investors has launched another of PIMCO's innovations in Germany. With the aid of the StocksPlus strategy, additional earnings are transferred from bond management to other markets (e.g. Euro Stoxx 50). Following the successful launch of dit-Euro Bond StocksPlus Total Return, dit | Allianz Dresdner Global Investors will be expanding this family of products in 2006.

In addition, during the course of this year dit | Allianz Dresdner Global Investors will also be extending its product portfolio in the category of private non-state subsidized pension provision to include the dit-FinancePlan. The basic thinking behind the dit-FinancePlan is to structure the assets invested for a particular target date. In the equity fund segment, the company plans to launch a global focused fund, investing in the fast-growing future-friendly markets of energy, environmental engineering and water.

One keynote topic in the current year will be the strategic expansion of the product range to include certificate funds. dit | Allianz Dresdner Global Investors is already on the market at the interface between funds and certificates. In conjunction with Dresdner Kleinwort Wasserstein, the first fund certificate was put on the market back in 2003. With a volume of 1.6 billion euros in ten fund certificates, this means market leadership in this segment. Early in February 2006, finally, the first fund certificate was issued, the dit-Dresdner BondsPlus Certificate, which includes "dit" as part of its name, and is sold through partners outside the group.

With the launch of dit-High Dividend Discount in November 2004, dit | Allianz Dresdner Global Investors simultaneously ranks among the pioneers in the certificate fund category. With assets of 655 million euros, the fund is among the most successful in its segment. More certificate funds are planned for 2006. dit | Allianz Dresdner Global Investors, for example, in conjunction with DVAG, will in the year’s second quarter be launching a guarantee fund, featuring a capital guarantee for the end of its term, and participating in the optimized appreciation of eight stock baskets. The range of certificate funds is rounded off by bonus and deep-discount funds, which are set to follow over the course of this year.

At a very early stage, dit | Allianz Dresdner Global Investors built up its own in-house expertise for the derivatives segment. Around 20 staff are employed fulltime for forecasting returns, volatility and correlations. In 2004, finally, a team was set up to focus on derivatives and structured products.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer, provided on the right.