Innovation Portfolio

In recent decades, technological progress (keyword digitalisation) has taken on enormous proportions – an end to this development is not in sight. On the contrary, it can be assumed that the introduction and establishment of new technologies will accelerate exponentially in the coming years. The following investment topics, among others, are likely to be in the foreground:

This opens up enormous potential returns for investors. However, it is important to note that technological development will be dynamic and disruptive. Therefore, it does not make sense to bet (only) on the current stock market darlings, as the players that are successful today may be forced out of the market by new technologies or by new market participants. At the same time, it is an extremely difficult undertaking to understand the emerging technological developments, to forecast their development and to derive the stock market winners of tomorrow from them. Against this background, the Innovation Portfolio does not invest in individual stocks, but selects the best management teams worldwide. Specifically, investments are made in ten funds from the field of innovation. We thus rely on the expertise of proven specialists who are permanently involved in technological development and who are able to recognise resilient new business models at an early stage.

In implementing the strategy, we rely on a core/satellite approach.

Core Holdings:

Satellites:

Investment ratio as at 27. September 2023: 20%

Through the ten selected funds, the innovation portfolio is invested in over 500 companies. The stock-specific risk is thus kept very low, which is crucial in a dynamic and disruptive environment. The largest ten positions compared to the Nasdaq 100 are as follows:

Nasdaq 100 (QQQ)

Portfolio Concentration – Top Ten Holdings as a percentage of portfolio: