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Help with a sentence, please

German translation: My interpretation...

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19:50 Oct 28, 2002
English to German translations [PRO]
Bus/Financial - Investment / Securities / Asset management
English term or phrase: Help with a sentence, please
From the response to a Request for Proposal:

3.8 What proportion of your institutionally managed volume relates to mandates out of your own Group (in % of total)?
We do not manage any institutional mandates out of our own group. ***All the assets we manage are external.***

What am I missing? I would have thought that mandates consist of assets, so how can it be that the investment company doesn't manage any mandates outside their Konzernverbund, but all their assets are external? Or is it that all their assets are third-party assets and they are trying to make the point: We don't manage our own investments as part of our managed funds/portfolios?

Please only answers from people with relevant experience - TIA!
Beate Lutzebaeck
New Zealand
Local time: 21:52
German translation:My interpretation...
Explanation:
What they're trying to say here is that all of the assets under management belong to persons or entities *outside* the Group - the wording is, er, somewhat misleading.

I'd put it this way:
"Die von uns verwalteten Vermögenswerte stammen ausschließlich von externen Auftraggebern."
Selected response from:

Ralf Lemster
Germany
Local time: 11:52
Grading comment
Super! Dank auch an Chris.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2My interpretation...
Ralf Lemster
5Aus/ von : von ausserhalbChris Rowson


  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
My interpretation...


Explanation:
What they're trying to say here is that all of the assets under management belong to persons or entities *outside* the Group - the wording is, er, somewhat misleading.

I'd put it this way:
"Die von uns verwalteten Vermögenswerte stammen ausschließlich von externen Auftraggebern."

Ralf Lemster
Germany
Local time: 11:52
Specializes in field
Native speaker of: German
PRO pts in category: 1394
Grading comment
Super! Dank auch an Chris.

Peer comments on this answer (and responses from the answerer)
agree  Hans G. Liepert: I also think that the simultaneous use of "out of"/"outside" is leading astray and the guys are managing external assets only
26 mins

agree  TonyTK
40 mins
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 5/5
Aus/ von : von ausserhalb


Explanation:
Strangely, I don´t find it at all unclear or confusing. The key is that the mandates are not assets in the sense of managed assets, they are investments in the funds managed, thus the input money. This is then invested in the managed assets.

In this case, none of the input money comes from the Konzernverbund, but for other cases some or all of it will. This doesn´t essentially make a difference to what they do - the money available is then invested, dis-invested, re-invested. The assets thus managed are here referred to as external because they essentially belong to persons outside the group, because that is where the money came from.

As I write, I finally grasp why it is confusing: "out of our own group" is "aus unserem Konzern" or "von unserem Konzern", but "All the assets we manage are external" is "... von ausserhalb unserem Konzern".

The "out of our own group" is possibly an Americanism, but in this context it is so normal I don´t notice it any more. Maybe the BE would be "from within"!

Chris Rowson
Local time: 11:52
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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