1. Screening: narrow down the investment universe by looking for commonly available evaluation parameters (e.g. low price/book ratio or price/earnings ratio).

2. Analysis and company visits: Analysis of identified companies applying our model by historical data and parameters, validation of results via company visits and/or contacts on management level. Single stock weighting in the portfolio according to price potential, i.e. the higher the price target the higher the weighting in the portfolio.

3. Top-Down-Check: Mainly in order to avoid cluster risks in the portfolio. At least 30% of the portfolio is always invested in blue chips. This way the portfolio managers avoid to be forced selling small cap stocks in difficult market conditions. ESG Scores of the portfolio are permanently monitored. In the event of a significant deviation the portfolio managers determine its origin and actively adjust the portfolio, if applicable.

Hence, there is no deviation from the investment process at any time. It always remains model consistent and transparent.

Fidecum – die Fondsmanufaktur®