Stocks are securities that represent a share of ownership in a company. They are issued by companies and traded on the stock exchange. Publicly listed companies usually operate as joint-stock corporations (AG). When investing in stocks, investors become part-owners of the company. Returns are generated through rising stock prices and dividend payouts, which represent a share in the company’s profits.
Aktien lassen sich in verschiedene Arten unterteilen. Diese unterscheiden sich bezüglich der Aktionärsrechte und -pflichten. Folgende Aktien gibt es:
| Ordinary shares | With common shares, investors gain both ownership and voting rights, allowing them to vote on important matters at the company’s general meetings. |
| Preferred shares | Preferred shares do not carry voting rights but typically offer advantages such as higher dividends compared to common shares. |
| Registered shares | Registered shares are recorded in the shareholder register, making ownership transparent. However, trading can be restricted by the company’s approval requirements. |
| Bearer shares | Bearer shares do not disclose the shareholder’s identity to the company, allowing easier trading without the need for registration or approval. |
| Old and new shares | To raise equity, companies can issue new shares. Those issued during a capital increase are called "new shares," while existing ones are "old shares." |
| Par value shares | Par value shares divide company capital into unequal portions, such as 20,000 shares at €5 and 2,000 shares at €50. This plays a role during company formation. |
| No-par value shares | No-par value shares divide capital equally. For example, €2,000,000 in capital can be split into 20,000 shares worth €100 each. |
To determine a share's value, the company’s equity (or share capital) is divided by the number of shares issued. This value is known as the nominal value. For example, if a company has issued 1,000 shares, each share represents one-thousandth of the company. When shares are traded on the stock exchange, the market price becomes the key factor in purchasing a share.
In addition to the nominal value, a share has a market price. The nominal value reflects the fixed portion of a company’s share capital and remains constant. The market price, however, is the value of the share at a specific point in time on a trading platform such as a stock exchange. It fluctuates over time.
The share price — or market value of a stock — is determined by supply and demand on the stock exchange. If demand is high, the price rises. If many investors sell, supply increases and the price falls. Several factors can influence supply and demand and, therefore, the stock price:
Stocks allow investors to participate directly in a company’s potential profits through dividend payments. When a company performs well, rising share prices can also lead to capital gains. Stocks can be bought and sold during trading hours. Shares of established companies generally offer high liquidity, making them easier to trade.
Investing in stocks carries both opportunities and risks. Investment risk can be reduced through diversification — spreading capital across multiple investments. Stock-related risk is primarily influenced by the following factors:
An index reflects the performance of a set of specific assets, such as stocks or bonds. A stock index shows the value development of the companies it includes. It can consist of securities from a specific sector, geographic region, or quality classification. For example, the German stock index (DAX) includes the 40 largest and most liquid companies in Germany.
ETFs are exchange-traded index funds that replicate the performance of an existing index. They allow investors to invest in entire stock indices rather than individual stocks. This enables automatic investment across multiple companies, industries, countries, or sectors — effectively spreading risk. Allianz’s asset management offers investors a diversified investment strategy. By assembling a strategic ETF portfolio, market risks can be minimized while opening up opportunities for attractive returns.
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The portfolios in our digital wealth management platform invest your capital in a broadly diversified way. This means you benefit from global equity and bond markets through a single portfolio.
Our investment team follows a strategy based on insights from 50 years of leading financial research.
Learn more about the investment strategy >Risk Notice: Every capital market investment involves opportunities and risks. The value of investments can rise or fall. In the worst case, a total loss of the invested amount is possible. You can find all detailed information under Risk Notices .
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