We want to zoom in on one important component of our bottom-up investment approach: the identification and analysis of the megatrends and structural growth trends to which companies are exposed. We believe that correctly identifying structural shifts in underlying end-markets for our companies is an essential ingredient to achieving long-term outperformance. Evolving profit pools provide some firms with an ongoing growth tailwind while others face a continuous uphill battle. As quality growth investors, we seek to invest in businesses that benefit from such growth tailwinds – and avoid those battling a relentless decline. This is something that we have always done. However, along with the overall rise of thematic investing, funds’ exposures to structural megatrends are receiving increasing attention. More than in the past, our investors are approaching us for a better understanding of our portfolios’exposures beyond the simple regional or sectoral splits. As you might be aware, we follow a disciplined bottom-up investment approach, in which top-down thematic considerations play no explicit role. However, given our emphasis on structural growth as part of our analysis, it is maybe unsurprising that we, too, are exposed to many of the long-term megatrends so often discussed. In our case, it is just a natural outcome of our bottom-up process. In this publication, we will discuss the structural megatrends we find attractive and why, as well as showcase our exposure.
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.
Justus Schirmacher has been a Portfolio Manager at Berenberg since January 2019. He started his career at Goldman Sachs in 2014 as an equity analyst in the European Autos Team. Before joining Berenberg, Justus Schirmacher worked in the GS SUSTAIN team. Here, the focus was on identifying cross-sector companies with successful and sustainable business models that have strong competitive advantages and benefit from structural growth. Justus Schirmacher studied history at the University of Cambridge.
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.
Suitable investment solutions
We offer funds with convincing track records and top ratings. All of our equity investments are based on comprehensive analyses and close interaction with members of these companies’ top management. In doing so, we consider ESG issues to be an essential part of our approach.