Turning away from traditional approaches
Multi-asset strategies play a central role in maintaining purchasing power and real wealth creation today because, with investments such as savings books or government bonds, only one thing is certain in a low interest rate environment: the loss of purchasing power. Multi-asset strategies use different asset classes, regions and segments depending on the investor’s risk appetite and return expectations. They consider the interaction of these assets and benefit from their different behaviours. Compared to strategies invested in only one asset class, they achieve a higher diversification effect and significantly reduce the fluctuations of the portfolio.
But multi-asset strategies also have to react to the changes in market behaviour in recent years. The low interest rate environment, the liquidity glut from centralbanks, the increasing importance of systematic investment strategies, the strong growth of passive investments, new and more complex products, the changed correlation properties of investments, and the desire of investors to take sustainability aspects into account require a departure from traditional approaches, such as a strong benchmark orientation or pro-cyclical behaviour. Added to this are the increasing flood and speed of information.
Berenberg has fundamentally renewed its multi-asset investment philosophy in recent years and now offers modern, promising multi-asset approaches with itsmulti-asset funds and asset management strategies that explicitly take into account the changed market environment; they go far beyond the traditional approaches of a mix solely of bonds and equities or a static mix of the two. The success of our strategies, especially in the challenging last few years, has proved us right: multiasset approaches must permanently react to the challenges of the market to achieve added value for investors.
We rightfully receive many questions from our clients and interested parties about our investment philosophy, our approaches and our way of working.
Autoren
Oliver Brunner
Oliver Brunner, CIIA, heads the portfolio management department (core strategies) at Berenberg. He has been working in private asset management since 2007. In addition to overall responsibility for the core strategies and 1590 fund family, the graduate industrial engineer manages large special mandates for foundations, church institutions and private clients with special requirements. He completed his studies at the end of the 1990s at the Technical University of Karlsruhe; in 2006 he passed the part-time examination to become a Certified International Investment Analyst (CIIA). From 2000 to 2007, he was portfolio manager and equity analyst at Baden-Württembergische Bank AG in Stuttgart.
Ulrich Urbahn
Ulrich Urbahn is a CFA charterholder and, for many years, was part of one of the world’s top three multi-asset research teams in the renowned Extel survey. After earning degrees in economics and mathematics from Heidelberg University, he spent more than ten years at Commerzbank, where he worked, among other roles, as a Senior Cross-Asset Strategist. He has been with Berenberg since October 2017 and heads the Multi Asset Strategy & Research as well as the Portfolio Management Alternatives departments. In addition, he is a voting member of the Investment Committee and is responsible for capital markets communication.
Suitable investment solutions
Multi Asset
Our wide range of strategies offers you a suitable investment solution and a variety of implementation options: Find a selection of our mutual funds here.
