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German KAG BayernInvest to lose CIO next year

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Oliver Schlick has told the supervisory board of BayernInvest he will not stand for re-election as board member and CIO in February 2015 when his contract expires.

Schlick has been on the board of the asset management subsidiary of German regional bank BayernLB since 2008.

The BayernInvest KAG has grown its assets under management by more than 13% to almost €50bn year-on-year in 2013, gaining rank 11 in IPE’s list of top institutional managers in Germany.

As per mid-2014, the assets under management have grown further to almost €53bn, with 80% of the total in Spezialfonds being managed for “insurers, Versorgungswerke, companies, foundations and church institutions”, according to BayernInvest.

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In a statement, BayernInvest thanked Schlick for his services and noted that he had “greatly influenced the company’s image” and “successfully advanced the product range”.

The supervisory board said it would finalise the hiring of a new CIO in early 2015.

In his introductory note to the 2013 Telos study on German Spezialfonds, in which BayernInvest is a co-financer, Schlick predicted a shift towards “more individualised solutions away from a simple product approach”.

He described the current investment environment as one in which “the average return level has fallen, safety has gone, economic cycles are shortened, markets are more dynamic and the regulatory pendulum is swinging heavily to one side”.

He also argued that stock markets were following “fundamental economic assessments much less than they used to”, and were much more influenced by political decisions. 

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