Can you present ETHENEA in a few words?
ETHENEA Independent Investors is a non-bank affiliated investment management company based in Luxembourg. With approximately 2.5 billion AUM, our portfolio managers actively manage three multi-asset funds (bonds-, balanced, equity-focused) and a global macro fund. Since 2010, the company offers investment solutions for a range of investor profiles. Capital preservation and the generation of attractive risk-adjusted returns over the long term are key components of ETHENEA’s investment philosophy. Each of our investment decisions is based on a high level of risk awareness. Our funds’ performance depends on achieving the right balance of asset classes across different sectors, in any market situation. Our team of highly-experienced experts follows a strategic top-down approach combined with the ability to respond to short term market changes quickly and flexibly via tactical adjustments. We make clear and logical decisions, taking responsibility for protecting and growing the money entrusted to us.
What is your latest news?
Especially in a challenging macroeconomic environment as the current one, we stick to our philosophy and try to differentiate ourselves through active management, taking positions independently of benchmarks and reducing risk early in periods of stress. These efforts are paying off – we have just been awarded the European Fund Trophy as best Luxembourgish asset management company, and our Ethna-AKTIV fun was awarded the first place out of 29 competitors in the mixed funds category of the 20-year ranking of the €uro Fund Award 2023 in Germany. Looking back over the past year, it was necessary to adapt fast to market developments, particularly in view of the geopolitical escalation and the war in Europe. Although we were already defensively positioned before the outbreak, we quickly reduced further risks and stabilised our portfolios.
“The difficult years determine whether an investment is successful in the long term.”
What do you think will characterize 2023 for asset managers?
From a macroeconomic perspective, 2023 will be characterised by continued high uncertainty, which will be spurred on by the still ongoing adjustment processes. On the one hand, we see inflation not falling as fast as expected and a still relatively robust consumption and also labour market. On the other hand, we are confronted with still falling earnings revisions and already the first stress triggered by the restrictive interest rate policy. The most exciting thing will be how the central banks solve this dilemma. As capital investors, we are therefore bracing ourselves for continued high volatility in all asset classes. We are sure, the year 2023 will provide attractive tactical and strategic entry opportunities for the patient investor.
