Investment Strategy
The Berenberg Multi Asset Balanced fund pursues a balanced strategy comprising equities, bonds, alternative investments and cash. The strategy aims at a balanced participation in the capital market and a long-term focus on structural growth trends and quality companies. The respective investment ratios are actively and dynamically managed based on the relative attractiveness of the asset class. In the equity segment, the focus lies on high-quality growth companies. European issuers with good credit ratings dominate on the bond side. Promising niche segments are covered via active funds. Alternative investments provide uncorrelated returns that stabilize the portfolio.
- Our classic multi-asset strategy for balanced participation in the capital market
- Active positioning against a mixed market benchmark
- Maximum equity allocation of 65%
- The investment universe primarily comprises individual securities, but also funds and ETFs
Learn more about our Berenberg Multi Asset investment philosophy
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Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Currencies
Asset classes
Top Holdings
Equities - Sectors
Equities - Countries
Bonds - Sectors
Bonds - Countries
Monthly market comment
Political uncertainty in Europe due to the re-election of the French parliament after the European elections dominated June. The possibility of a radical government in parliament caused the market to shift from European equities to US equities. Cyclical market segments also suffered from the risk-off movement. Contrary to the rotation, a cooling of the US economy continued to be observed, as the Purchasing Managers' Index declined, inflation remained high and macro data surprised negatively. Despite the political uncertainties in France, we do not see any lasting impact on the European financial markets or economy. Rather, we expect the fundamental situation to come more into focus and further interest rate cuts by the ECB by the end of the year and a first rate cut by the Fed, which should boost risky assets in the medium term. We took advantage of the corrections on the European equity market and bought the French energy company Total and the Dutch banking group ING. We also increased our exposure to the European technology stocks SAP and ASML and, in turn, took profits on the Swiss shoe manufacturer On. On the bond side, we slightly reduced our bond exposure and increased the duration by buying covered bonds and selling financial bonds.
Portfolio Management
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Marco Höchst
Marco Höchst joined the bank in November 2016. As a multi asset portfolio manager, he is co-responsible for offensive and balanced strategies as well as the Berenberg Multi Asset Balanced. Additionally, he contributes to idea generation and the overall market opinion with a focus on equity market analysis in a multi-asset context. He received his Bachelor's and Master's degrees from Goethe University in Frankfurt a.M. in Finance, where he graduated in the top 10%. He was awarded the CFA charter in 2021. Previously he gained experience in portfolio management at Hauck & Aufhäuser and the H&A Global Investment Management, where he co-managed the convertible bond fund.
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Christian Bettinger
Christian Bettinger, CFA, has been with the company since June 2009. As fund manager of the mutual funds Berenberg Euro Bonds and Berenberg Credit Opportunities, he is responsible for the selection of corporate bonds in the Multi Asset area. After apprenticeship as a banker and studying business administration at the Catholic University of Eichstaett-Ingolstadt, he first went through the trainee program at Berenberg. In February 2010, the business graduate was taken over early as a junior fund manager with a focus on derivatives and fixed income. Bettinger is a CFA-Charterholder, Certified Financial Engineer (CFE) and admitted Eurex trader.