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.

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.