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Foreign investors base DAX companies


The attractiveness of the major DAX values among foreign investors pays off in crisis. Thus, according to calculations by Handelsblatt several large German companies, despite the economic slump and turmoil increased the share price of foreign shareholders yet. Overall, it was the share of foreign investors in the stock ownership of the 30 DAX companies with substantial 51.6 percent. Eight years ago, it was only third.

Especially in difficult times turn out to anchor foreign shareholders, including state funds and long-term financial investors, so as stabilizing. "Act in view of globalization and more international investors. Why should the proportion of foreigners in German equities and increase the medium term," says Franz-Josef Leven from the German Aktieninstitut. The trend that more and more foreign investors sat on the export-oriented firms in Germany was far from being finished. According to the Bundesbank’s balance of payments, foreign investors invested in the first three quarters of 2009 net 7.1 billion euros in the German stock market. This corresponds to the market value of Adidas.

Sample Daimler: In the midst of the market crisis, and despite deep red numbers bought the Emirate of Abu Dhabi through its sovereign wealth fund Aabar in the spring for just under two billion euros DaimlerShares at price of 20.27 euros. Thus, the Gulf state owns 9.1 percent of the shares – and the foreign share rose to Daimler within one year from 54 to 62 percent.

Aabar described his investment as well as the already invested since 1974 Kuwaitis as a long term commitment. One could not help thinking of 50 or 100 years, "said Aabar CEO Khadem al Qubaisi. Many speculators had bet in vain at the outbreak of the financial crisis in the neighboring emirates Dubai on falling prices and an exit of the anchor investor. The DaimlerStock made its brief 20-percent price loss quickly compensated. You currently quoted 85 percent higher than in Aabar entry.

"The financial markets in Europe and the United States developed almost identical, and the risks are available worldwide, the Hamburg based economics professor Alexander Bassen, the high foreign interest in DAX corporations. At the height of the financial crisis in the spring came mainly hedge funds facing liquidity problems and, therefore, sold shares. For them, but other investors jumped into the breach.

In the former state-owned German company Deutsche Telekom, which keep the federal government and the state-owned bank KfW Group just under one third of the shares, foreigners are now investing to 43 percent. This is as much as never before. When energy giant Eon, The Gasespezialisten Linde, The drugmaker Merck and the software house SAP Foreigners are bought within one year very strong. With more than 80 percent of foreign influence at the pharmaceutical giant Bayer and is the Deutsche Boerse greatest.

Most major shareholders are the American investment company Capital Research and the world’s largest asset manager Black Rock. Both have many years on a dozen Dax-company shares by at least three percent. This is not about strategic influence, because that’s why the holdings are too small. The Investment Managers hope for long-term capital growth.