Our Investment Principles
We have been specialists in the knowledge-intensive asset management of convertible bonds since the company was founded. As one of the established global market leaders in this field, we have continuously expanded our product range since 2006.
With all products, our emphasis is on active management and outperformance – especially in periods of market weakness. Key performance drivers are credit research, security selection, trend spotting and our macroeconomic model.
Our majority shareholding in the ratings agency Independent Credit View makes us experts in fundamental and quantitative credit research.
The cornerstones of our investment philosophy at a glance are:
- We are staunch advocates of active management. All of our products exhibit a high active share.
- We aim for asymmetric price behaviour for our products. In weak markets they generate significant outperformance versus the benchmark, while in positive periods they keep pace with the benchmark return.
- Our portfolios consist of the top-down managed macro factors (equity exposure, duration, credit spreads, regions/sectors) and the bottom-up managed securities selection.
- The momentum approach in equity research allows us to exploit opportunities at short notice.
- We use sophisticated proprietary software, including macro and single security analysis models, trend identification, scenario analysis and risk management.
- We employ a consistent team approach, avoid conflicts of interest and rely on the breadth and extensive experience of all our specialists.
- Our positioning as a flexible and entrepreneurial boutique, paired with our management of optimally sized funds, allows us to capitalize on all available opportunities.
Fisch considers sustainability from multiple perspectives being reflected not only in our investment practices, but also in our core values as well as our role within society. Specifically, and consistent with a focus on delivering sound corporate responsibility, we cultivate relationships with our stakeholders and live our corporate values with our clients and our employees. Reflecting this belief we are a signatory of the Principles for Responsible Investment (PRI).
We believe that an investment process that is guided by responsible investments considerations over the long-term is a key attribute in achieving the best risk-adjusted returns and therefore is in the best interests of our clients.
Environmental, Social and Governance (ESG) considerations have a meaningful impact on the fundamental investment analysis of the companies that are relevant to the strategies we manage. We believe analysing ESG topics is important in fully understanding the risks we take in our investments. Therefore, ESG is entirely incorporated in our research process. Our internal ESG committee, consisting of representatives from different departments, is responsible for continuously monitoring and tracking our ESG efforts, strives to enhance our understanding and optimises our related processes.
Particularly the responsible investment approach at Fisch incorporates the following beliefs:
- Our role in being responsible stewards of our investors’ assets requires us to analyse ESG aspects and engage issuers where appropriate.
- ESG considerations are best integrated into our research approach.
- Certain industries or companies where business practices are inconsistent with the goals of responsible investing are excluded.
Our investment solutions
We offer investors numerous attractive investment solutions. You will find the various strategies and product solutions within these investment segments:
We offer all strategies both as public investment fund solutions and on a mandate basis.