A clear investment philosophy:
Good companies.

"Invest in good companies" - that sounds like an obvious investment strategy. Nevertheless, many investors still ignore this strategy or do not have a definition for quality ­companies. 

For us, it is a company that generates a very high return on the capital invested in the company over the entire business and economic cycle. The return on working ­capital should significantly exceed the cost of capital ­. In this way, value can be created for the shareholder in the long term.

In our opinion, there are only a few good companies in the world that consistently generate a return on capital above their cost of capital over the entire business and economic cycle due to unique selling propositions and that investors can rely on.

We believe it is worthwhile to look for these companies because they create long-term added value for investors. In addition, we attach importance to a good corporate culture in potential investments and that management acts in line with the interests of shareholders. It is also important to us that, in order to achieve the high returns, the companies do not use any significant debt financing.

This distinguishes us from the mass of other funds.

At a glance:

• Focus on how well the company manages its capital
• Global opportunity perception and stock selection regardless of company size, trending topics and sectors
• Very long investment horizon, synonymous with low turnover in the portfolio
• More than just routine information: Focus on management quality and corporate culture
• High degree of freedom, as no index orientation