Portfolio Components

Portfolio Components

We divide our portfolios structurally into three components, irrespective of whether the portfolio in question is globally diversified or geared towards specific asset classes (equities, bonds, etc.):

  • Stable, long-term anchor point with focus on cash flows (interest and dividends) with a generally very low turnover rate
  • Theme-based component, where tactical changes could have a not insignificant effect

Within equities: Emerging markets, small caps, special situations (such as «out of favour» stocks, event driven situations), technology, biotechnology, etc.

Within bonds: High yield, emerging markets debt, «fallen angels», etc.

  • Risk management: cash/liquidity – tactical hedging