Strategy & Portfolio Update – As of July 31, 2025
Financial markets are on the move – more than ever. Geopolitical uncertainties, rapid technological advances, and a shifting interest rate environment are challenging investors. In such times, the central question arises: Where is it worth being bold – and where is caution the smarter choice?
This is exactly where our Innovation Portfolio comes in, guided by a clear principle: we invest where strong momentum meets structural growth drivers. And we deliberately exit areas where the dynamic is visibly fading. This keeps us flexible, focused, and ready to actively seize opportunities. Our perspective includes not only short-term market moves, but also long-term megatrends that reshape entire industries and enable growth for years to come.
Strategy update: Investment quota reduced to 60%
As of July 31, 2025, we reduced our investment quota from 100% to 60%. Why? Because flexibility is worth gold right now.
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Defensive positioning: Lower risk in an uncertain environment.
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High responsiveness: With 40% liquidity, we can immediately enter once new trends gain sustainable momentum.
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Strategic reserve: Cash as a strategic option allows us to act anti-cyclically and opportunistically in new themes.
In today’s markets, where sentiment swings between euphoria and caution, this setup provides decisive room for maneuver. For long-term investors, every period of weakness is not just a burden – it’s an opportunity.
Exiting weakening trends – entering new momentum
In recent weeks, momentum has clearly slowed in cybersecurity, artificial intelligence, robotics & automation, semiconductors, and digitalisation. We have therefore consistently reduced our positions.
The counterpoint is clean energy. With the iShares Global Clean Energy ETF, we have added a sector that currently shows not only relative outperformance but also absolute strength – a future-oriented step towards the energy transition.
Core holdings: Stability in the tech sector
Our four core positions form the stable foundation of the Innovation Portfolio:
These funds invest broadly in leading global technology companies: from cloud and software to semiconductors and e-commerce platforms. Different investment approaches (Growth, Quality, GARP) provide diversification—and thus stability.
Implication: The tech sector remains a long-term megatrend—driven by cloud migration, automation, AI applications, and the digital transformation of entire business models.
Satellites with future power: Clean energy and battery technology
Surrounding the core, we have positioned two strong growth segments as satellites:
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Clean energy (iShares Global Clean Energy ETF): Benefiting from massive global investments in renewables.
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Battery value chain (Legal & General Battery Value-Chain UCITS ETF): Driven by e-mobility, stationary storage, and falling production costs per kWh.
Implication: These satellites add additional momentum and tap into two key growth themes of the coming decade.
Conclusion: Defensive but ready for opportunity
The Innovation Portfolio is more than just a collection of investments – it is a strategy for volatile times:
- Core holdings secure stability and participation in the technology megatrend.
- Clean energy & battery technology position us in growth areas with strong tailwinds (Emerging Cleantech Trends 2025, Clean Energy Tech Trends 2025).
- High liquidity provides safety and flexibility for the next big trend.
Why now? Because markets mean change – and only those who remain agile can seize tomorrow’s opportunities.
Further reading recommendations
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McKinsey: The Top Trends in Tech 2025 – In-depth analysis of 13 frontier tech trends set to transform industries worldwide.
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Lazard: Megatrends – Investing in the Next Decade – Strategic perspectives on the key global trends shaping long-term investments.
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ARK Invest: Big Ideas 2025 – Innovation roadmap highlighting disruptive technologies with major growth potential.
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Blackstone: Building the Future – Megatrends and Investment Themes – Overview of transformational investment themes driving the future economy.
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JPMorgan: Alternative Investments in 2025 – Top Five Themes to Watch – Focus on elite growth sectors and emerging markets.
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IMD Future Readiness Indicator – Assessment tool for corporate preparedness for future challenges.
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WIPO World Intellectual Property Report 2024 – Insights into innovation policy and intellectual property as economic drivers.
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FCLTGlobal – Research initiative promoting long-term investing principles.
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AI Index Report 2025 – Comprehensive data and insights on the progression of artificial intelligence technologies.
