Investment Policy

We invest in a small group of undervalued, quality companies, which we want to hold for the long term. To stay true to our philosophy, we exclude certain practices that conflict with our clear approach.

We consciously avoid the following key points to achieve sustainable value creation:

1 / No Trading

We do not engage in short-term trading. Instead, we focus on long-term investments in quality companies to generate sustainable value.

2 / No Derivatives

We deliberately avoid complex financial instruments such as derivatives. Our investments are transparent, understandable and direct.

3 / No Short Positions on Stocks or other Assets

We do not speculate on falling prices. Our strategy is based on trust in the growth of robust companies.

4 / No Market Timing

We do not attempt to predict the perfect time to enter or exit the market. Instead, we invest with a long-term perspective, independent of short-term market fluctuations.

5 / No Index Tracking

We do not replicate indices. Our portfolios are composed of carefully selected individual companies that meet our fundamental analysis standards.

6 / No FX Hedging

We do not hedge currency risks. Our companies receive global revenue streams and are exposed to currency risk, despite hedging. Over the long term currencies converge and should not have a major impact on your investment.