All is secured

What is important for fund investors

  • The portfolio is mostly hedged. However, because we have hedged much through Eurex single stock futures, the hedging is much “closer” to the stocks we hold than it was in the past. This significantly reduced the risk of suffering loss on the hedging that is not compensated by price gains in stocks when the market recovers.
  • Our primary goal as stock fund is currently to keep the fund price consistent.
  • For the time being, we don’t expect the stock markets to return onto the path to a bull market. This, however, does not rule out the possibility of bear market rallies. This may, in a first case, occur as soon as early November after the midterm elections.
  • We will not attempt to follow each upward trend of the market. Capital preservation takes priority at this time. The focus is clearly on wait and see.
  • The portfolio is mostly invested in stocks. We have been meeting all tax requirements which are in effect in Germany since the beginning of the year and which are important especially for investors who are subject to taxation. This is possible because the hedging tools we are using are not considered when the quota for the taxation criteria are calculated.
  • In our article on stocks “Mind the Gap” we are discussing in depth why we do not believe that there is a buying opportunity at the stock markets at the moment.

Georg Oehm

Entrepreneur with a faible for braces & shorts (as clothes and investments) who believes in personal development of people & proper and hard work to solve problems & organise projects. Focus on negotiations and investing – always with the end in mind.

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