Investment Strategy
The Berenberg Sustainable Stiftung fund is a sustainable and distribution-orientated multi-asset fund that takes foundation-specific aspects into account at limited risk. The objective of the defensively oriented portfolio is to exploit opportunities and generate earnings potential in order to ensure long-term real capital preservation and the generation of steady returns. This especially includes the active management of investment ratios, the capital commitment period as well as regional and sectoral allocation. Due to the focus on the inclusion of Berenberg’s sustainability criteria in the selection process, the strategy is especially suitable for investors with social commitments or high moral and ethical standards.
- Sustainable multi-asset solution with distribution focus
- Active management within fixed ranges per asset class
- Active positioning against a mixed market benchmark
- Maximum equity allocation of 35%
- The investment universe comprises mainly single securities
Learn more about our Berenberg Multi Asset investment philosophy
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Currencies
Asset classes
Top Holdings
Equities - Sectors
Equities - Countries
Bonds - Sectors
Bonds - Countries
Monthly market comment
The past month was a positive month for the capital markets. Equities, corporate bonds and gold recorded a positive performance. The reporting season for the first quarter of 2024 was positive overall, and the outlook for 2024 was also constructive. Macro data in the US came in below expectations, but better than expected in Europe. The G10 central banks are about to cut interest rates for the first time. Yields on 10-year US government bonds fell from 4.67% to 4.49%, while 10-year German government bonds rose from 2.58% to 2.66%. The global equity markets continued to rise (S&P 500 +4.9%, Stoxx50 +2.7%). Risk premiums in the European investment grade and high yield segment narrowed further (iTraxx Europe: -3 bp; iTraxx Xover: -23 bp). Gold (USD) also gained 1.8% to 2327.
Portfolio Management
Oliver Brunner
Oliver Brunner, CIIA, heads the portfolio management department (core strategies) at Berenberg. He has been working in private asset management since 2007. In addition to overall responsibility for the core strategies and 1590 fund family, the graduate industrial engineer manages large special mandates for foundations, church institutions and private clients with special requirements. He completed his studies at the end of the 1990s at the Technical University of Karlsruhe; in 2006 he passed the part-time examination to become a Certified International Investment Analyst (CIIA). From 2000 to 2007, he was portfolio manager and equity analyst at Baden-Württembergische Bank AG in Stuttgart.
Christian Saalfrank
Christian Saalfrank ist seit Mai 2023 bei Berenberg. Als Co-Fondsmanager des Publikumsfonds Berenberg Sustainable Stiftung ist er im Bereich Multi Asset Income & ESG in Frankfurt mitverantwortlich für nachhaltige und ausschüttungsstarke Strategien. Er verfügt über eine langjährige Erfahrung und besondere Expertise in der Verwaltung von großen Spezialfonds für Sparkassen, Unternehmen und Kommunen. Nach einer Banklehre bei der Stadtsparkasse Nürnberg absolvierte er Mitte der 90er Jahre sein BWL Studium an der Universität Erlangen-Nürnberg. Nach dem Studium startete er seine Laufbahn als Junior Fondsmanager bei der SEB Invest. Im Jahr 2001 legte er die berufsbegleitende Prüfung zum Certified European Investment Analyst (CEFA) ab. Von 2001 bis 2021 arbeitete er als Senior Fondsmanager Multi Asset/Aktien für institutionelle Kunden bei der Helaba Invest. Zuletzt war er als Leiter Aktien bei der LeanVal Asset Management AG tätig.
Consideration of ESG Elements
Identifying companies and business models that will be successful in the long term is the basis for good investment decisions. Environmental, Social and Governance (ESG) factors are key factors in decision making and are therefore integral
components of the investment process.
CO₂-Intensity
The fund does not actively manage its carbon footprint, however, emissions data such as CO2 intensity are relevant parameters which can be used to assess the efficient management of a company and the extent of transition risks.
ESG Score
The data provider MSCI ESG uses an ESG score of 0 to 10 to assess the management of material ESG risks of portfolio holdings compared to competitors.
ESG Controversies Screen
Investments in the fund are monitored for ESG controversies and, with the help of MSCI ESG data, flagged according their severity. Thereby, potential ESG risks of investments are identified. In the case of an orange flag (severe controversy), we enter into an active exchange with the company. In the case of a red flag (very severe controversy), the company is excluded.