Stiftung Warentest criticizes information sheets on investment
If you want to invest your money, a good mix of security and return opportunities is usually important. However, some people are more risk-averse; For others, it is very important that their capital is safe, and they accept lower revenue opportunities. However, it is often very difficult for the layman to identify which investments fit with which investment strategy. Since June 2012, there are at least for closed-end funds and investments that are considered particularly risky, such as profit participation rights and registered bonds, the statutory requirement for providers to provide so-called short information sheets.
Not all companies offer easy access to information
These Asset Information Bulletins (VIBs) are designed to allow consumers to quickly and easily get an overview of an investment. Above all, the risks and opportunities should be clearly described. As the current investigation of the Stiftung Warentest in cooperation with the Verbraucherzentrale Bund (vzbv) shows, a quarter of the 67 companies affected violate legal requirements. For example, the companies concerned have failed to make the information sheets available on their website, which is precisely what is required to give consumers easy access to the information.
- Our service for you
- Make more money out of lucrative investments now.
- compare offers
Inaccurate and incomprehensible information
In content, a total of 24 information sheets were examined. The sobering result: just once a VIB gave detailed information on the investment product. All other information sheets were inaccurate or offered no specific information on the respective conditions. A VIB should provide all important information on three DIN A4 pages and explain the system so well that no further reading is necessary. In addition, the sheets must provide information about fees and costs of the equipment. In addition, the consumer should be given the opportunity to compare the various offers using the product sheets. But the current information sheets are hardly worth it.
Stiftung Warentest and consumer advocates take negative stock
The criticism of consumer protection and testers Stiftung Warentest is therefore devastating: In the information sheets are more promotional items than specific information, they “bristle in front of legal generalities” and often offer only confusing information on costs and return options. Even with good VIBs, consumers would not be able to assess whether the corresponding investment would really suit them. The testers, however, draw the conclusion that it is sufficient for a negative selection. For those who can not understand how the system even works based on the product information sheets of the respective provider can assume that their own money should be better spent elsewhere.