Investing in future themes


The digitalization of the worldwide commerce is in its third decade and still in its early stages. And as with all disruptive new trends, digital commerce tends to monopolize. It’s a “the winner takes it all” game, where only the biggest player wins. The Fintech revolution is younger and works the other way around. Many small players with highly innovative ideas generate enormous growth in niches and attract high growth premiums. Both trends live on growth expectations and must be actively managed in the portfolio accordingly.

ESG (Environment, Social, Governance)

People who are in harmony with themselves and their environment live better. This applies not only to to people, but also to companies. Those who operate sustainably, take the needs of their environment into account and act socially are not only successful, but can also rely on the support of their environment and among their fellow human beings in good and bad times. ESG stands for a holistic approach that tries to bring things into balance and thus achieve success in which everyone participates. The stock market has taken a long time to recognize and appreciate the benefits of ESG, but is now fully behind it, making the trend all the stronger.


The pharmaceutical, biotechnology and medical technology sectors are perennial favorites on the stock market. This is where demographics and technical innovations meet and create new value year after year. Not only is humanity growing at a breathtaking rate, but is also getting older and wealthier on average. All three catalysts are leading to a steadily increasing demand for new solutions from the pharmaceutical industry, but also from medical technology. From the point of view of the stock market, the main challenge is to filter out the future winners, because as a rule the most successful new products are monopolized. Only one company wins the race and receives outstanding valuations from the stock exchange in return. We have mastered this challenge in the future themes Health & Biotechnology portfolio.


The revolution in the automotive sector began quietly and in a niche. It is now clear that Smart cars will shake up the automotive industry in the same way that the introduction of the smartphone opened up a completely new playing field. The old market leaders are no longer necessarily the future ones; instead, they will have to vie for customers’ favor with small, dynamic and, above all, innovative newcomers. Parallel to the Smart car revolution and partly overlapping it, the transformation of the global energy supply is underway. The new energy concepts are characterized by a trend toward decentralized production and clean alternatives, which are meeting with high demand, especially in Asia. Momentum is high and creating new market leaders.

Cloud-Computing & AI

Cloud computing, Big Data and AI are not independent of each other, but are mutually dependent. None of the three areas can be successful without each other. Because all of the three are moving at different development speeds. Thrust by thrust, not linear. There is considerable potential here, especially for the stock market, because with targeted stock selection, the leaps in innovation can be converted into rising company valuations. Crucial to successful selection is understanding companies’ technology roadmaps and matching this with anticipated future end market demand. We build these bridges for you in the future themes portfolio Cloud computing & AI.