In times of a prolonged period of low interest rates, it must be admitted that a simple savings book is no longer the optimal solution for a financial investment. Many savers therefore invest their money in funds. In addition to yield payments, attractive price gains are also possible. A fund or investment fund invests in various assets such as bonds, real estate or shares in order to compensate for possible fluctuations in the value of individual securities. A loss in value of an investment has little effect on the fund assets and thus on the fund unit. A fund custody account is required for fund trading. The majority of the fund accounts in Germany have been managed in Hof for over 25 years. With currently around one million fund accounts and 40 billion euros in customer money under management, Fondsdepot Bank in Hof is Germany's largest independent fund platform.
Fondsdepot Bank offers more than 180 distribution partners simplified access to investment solutions from a wide range of investment companies, as well as the custody of their clients' holdings in securities accounts. However, it is not possible to open a custody account at Fondsdepot Bank directly, but only through an intermediary. As a fund platform, it ensures that its partners meet all regulatory requirements and the demands of changing customer needs and technological progress. These include renowned banks, insurance companies, broker pools and independent financial intermediaries.
At the end of 2019 the management of Fondsdepot Bank succeeded in a major coup - a long-term cooperation agreement was concluded with AXA Germany. As a result, Fondsdepot Bank will also take over the management of the custody account for this insurance company in future.
"AXA Deutschland is positioning itself in the best possible way for the future in the area of single premiums and investments and has concluded a long-term cooperation agreement with Fondsdepot Bank GmbH. In future Fondsdepot Bank will provide the technology and service platform including expertise for the management of the fund-based investment direct business for three of the largest insurers in Germany", says Sebastian Henrichs, Chief Executive Officer (CEO) of Fondsdepot Bank.
With up to 430 employees, Fondsdepot Bank in Hof is a major employer. As part of its further development, the fund platform is continuously looking for additional colleagues in the region. Henrichs comments: "We currently have over 25 interesting vacancies that we would like to fill in Hof at short notice. From IT experts to call centre agents to investment specialists - we offer a variety of exciting jobs combined with attractive benefits such as home office, flexible working hours, company restaurant and various health promotion measures."