The fund management invests in high-quality companies that should be able to generate above average and sustainable earnings growth over a long period of time. The key selection criteria are high barriers to entry, end-markets with structural growth and excellent management teams.
- Investment in global growth companies of all sizes
- Concentrated portfolio of approximately 30 stocks
- Active and benchmark-agnostic approach
- Long-term investment horizon
Learn more about our investment philosophy in equity fund management
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Performance in 12-month periods
Monthly market comment
Meta's shares gained over 20% thanks to positive full-year figures and an excellent growth outlook for 2023. In the context of company acquisitions and an attractive price level, Topicus delivered solid figures in the last quarter with over 30% sales growth. Although the 2023 outlook was below expectations, shares of Lonza were up significantly. Adobe underperformed in February as the company faces an antitrust lawsuit to block its acquisition of Figma. Ryman Healthcare shares remained volatile and gave up some gains as it suffers from declining transactions in the real estate market. Despite good Q4 2022 financial results, shares of Royalty Pharma were weak, as were other U.S. pharmaceutical stocks.
Martin Hermann has been a Portfolio Manager at Berenberg since October 2017. Before joining Berenberg, he was a Portfolio Manager and Vice President within the award-winning "Europe Equity Growth Team" at Allianz Global Investors. His responsibilities included Deputy Fund Manager for the International Equity Growth Fund. He started his career in 2010 as an Investment Trainee in the Graduate Program at Allianz Global Investors. Martin Hermann holds a Master in Investment Analysis and Corporate Finance from the University of Vienna and is CFA Charterholder.
Kay Eichhorn-Schott has been a Portfolio Manager at Berenberg since October 2017. Kay started his career in the Berenberg International Graduate Program in October 2015 and joined the Wealth and Asset Management division in London after completing the program. He holds a Master of Science in Finance and studied at EBS Business School, University of Bath and Texas A&M University. Kay Eichhorn-Schott is a CFA Charterholder.
Matthias Born has been CIO Equities since 2017 and Head of Investments of Wealth and Asset Management since 2019. He started his career in 2001 at Allianz Global Investors (AGI), where he managed portfolios for European Small Caps, European growth stocks and German equities from 2002 to 2017. In his 16 years at AGI, he has built two very successful equity franchises and was responsible for client assets in the double-digit billions. Matthias Born has an excellent track record over two decades and received several awards for his outstanding and consistent performance. He studied at the University of Wuerzburg and holds a degree in Business Administration.
Consideration of ESG Elements
Identifying companies and business models that will be successful in the long term is the basis for good investment decisions. Environmental, Social and Governance (ESG) factors are key factors in decision making and are therefore integral
components of the investment process.
The fund does not actively manage its carbon footprint, however, emissions data such as CO2 intensity are relevant parameters which can be used to assess the efficient management of a company and the extent of transition risks.
The data provider MSCI ESG uses an ESG score of 0 to 10 to assess the management of material ESG risks of portfolio holdings compared to competitors.
ESG Controversies Screen
Investments in the fund are monitored for ESG controversies and, with the help of MSCI ESG data, flagged according their severity. Thereby, potential ESG risks of investments are identified. In the case of an orange flag (severe controversy), we enter into an active exchange with the company. In the case of a red flag (very severe controversy), the company is excluded.