Passive investments change market structure and market behaviour
Reading time:15 MIN
The importance of passive investments continues to grow. They enable investors to invest quickly, cost-effectively, and supposedly without disadvantage in different asset classes, regions, or segments, even if underlying securities are not very liquid. However, their growing importance is leaving its mark on the behaviour of the overall market and individual securities. Passive investments are one of the drivers of the continuously changing market structure. With a focus on equities, we high-light the key implications of passive investing that investors need to be aware of. However, many findings also apply to bond markets. For active investors, this de-velopment also creates opportunities.
Authors
Prof. Dr. Bernd Meyer
Prof. Dr. Bernd Meyer has been Chief Investment Strategist at Berenberg Wealth and Asset Management since October 2017, where he is responsible for discretionary multi-asset strategies and wealth management mandates. Prof. Dr. Meyer was initially Head of European Equity Strategy at Deutsche Bank in Frankfurt and London and, from 2010, Head of Global Cross Asset Strategy Research at Commerzbank. In this role Prof. Dr. Meyer has received several awards. In the renowned Extel Survey from 2013 to 2017, he and his team ranked among the top three multi-asset research teams worldwide. Prof. Dr. Meyer is DVFA Investment Analyst, Chartered Financial Analyst (CFA) and guest lecturer for "Empirical Research in Finance" at the University of Trier. He has published numerous articles and two books and received three scientific awards.
Prof. Dr. Bernd Meyer
Chief Investment Strategist and Head of Multi Asset
Ulrich Urbahn
Ulrich Urbahn has been working for Berenberg since October 2017 and is responsible for quantitative analyses and the devel-opment of strategic and tactical allocation ideas, and is involved in capital market communications. He is a member of the Asset Allocation Committee and portfolio manager of the Berenberg Variato. After graduating in economics and mathematics from the University of Heidelberg, he worked for more than 10 years at Commerzbank, among others, as a senior cross asset strate-gist. Mr Urbahn is a CFA charterholder and was part of the three best multi-asset research teams worldwide in the renowned Extel survey for many years.
Ulrich Urbahn
Head of Multi Asset Strategy & Research
Multi Asset Flexible
Benefit from a flexible multi-asset strategy with a focus on individual ideas. Strategic long-term positions in attractive capital market segments, especially niches, are supplemented by short-term oriented thematic as well as opportunity-driven positions. Investments are made across all asset classes and regions - deliberately detached from any benchmark and therefore, not based on pre-defined bandwidths for individual asset classes. On portfolio-level, a comprehensive risk overlay is applied on the basis of sensitivities to key risk factors.
Fundname
ISIN | WKN:
Performance
1 year
Volatility
1 year
NAV
Berenberg Variato R A
LU1878856043 | A2N6AQ
Date: 23.04.2024
ISIN: LU1878856043
WKN: A2N6AQ
Performance 1 year: 6.72%
Volatility 1 year: 4.10%
NAV: 124.61 EUR
