INVESTMENT STRATEGY
Unconstrained

Our investment strategy? – Unconstrained

Top-down approach

The cornerstone of our investment strategy is macroeconomic analysis. After identifying key macroeconomic data, we parse it all to understand their impact on financial markets. Simply put, we conduct our own analyses and evaluate analyses conducted by third-party providers. After that and aided largely by fundamental and technical models of proprietary design, we go on to determine the attractiveness of various asset classes. Only then do we create the actual portfolio. We strive to achieve the greatest possible diversification by employing various investment styles and accounting for global risk factors. Risk is then allocated to individual asset classes based on attractiveness. The backdrop of this relatively risk-oriented approach is that, in reality, extreme events occur far more frequently than they are predicted to occur by (the normal distribution in) mathematical finance. Our aim is to preserve capital and to strike the right balance between risk and return..

ESG selection criteria

In 2012, we signed the UN Principles for Responsible Investment (PRI) and are convinced that companies who manage strategically environmental, social, and governance (ESG) factors will not only have clear competitive global-market advantages in the future, but will also see enhanced performance over the long-term. We incorporated these principles into the investment process by supplementing or modifying existing investment policies. In so doing, we defined how the PRI will be implemented for the various asset classes and in the various business divisions. And we ensured that expertise and resources will be deployed in a manner commensurate with the desired changes and policies. Here, we concentrated our efforts on the simpler and most crucial of the ESG factors.