Ethenea: the flagship fund, the Ethna-AKTIV, turns 20
Press release
Munsbach, 15. February 2022. The Ethna-AKTIV is celebrating its 20th anniversary. Luca Pesarini and Arnoldo Valsangiacomo, the founders of Ethenea, launched their first fund in 2002. Prior to that, they had worked for various well-known companies in the finance sector. With its multi-asset approach, the fund they launched, the Ethna-AKTIV, was revolutionary in Germany at the time and it became a pioneer in the field. Originally conceived as a “friends and family” fund, the successful performance of the Ethna-AKTIV resulted in the fund also attracting the interest of other investors. Pesarini and Valsangiacomo then opened up the Ethna-AKTIV and also successively launched two other multi-asset funds - the bond-focused Ethna-DEFENSIV in 2007 and the equity-focused Ethna-DYNAMISCH in 2009.
Flagship fund without a benchmark
Unlike most other funds, the Ethna-AKTIV does not follow any benchmark. “This gives us the freedom to invest exclusively in the securities we believe in the most,” explains Luca Pesarini. “The fund's approach, which combines a focus on capital preservation with a high degree of flexibility, has proven its worth many times over. As a result, we have successfully weathered a range of crises, including the Global Financial Crisis in 2008, the euro crisis of 2012 and, most recently, the impact of the Covid-19 pandemic in 2020.”
Diversification across different asset classes, sectors, and regions is a central component of the Ethna-AKTIV’s investment strategy. “When making allocation decisions, we take both the current macroeconomic scenario and the relative attractiveness of the individual investment opportunities into account,” says Arnoldo Valsangiacomo. “This enables us to react flexibly to different market situations and take advantage of return opportunities, without neglecting risk management. Equities and bonds remain the core components of the fund’s portfolio. Investments in commodities and, above all, currencies round off the allocation.” Thanks to this combination of a long-term strategy and flexible tactical adjustments, the Ethna-AKTIV (T Class) was able to deliver a strong performance of 5.14% in 2021.
An experienced team with a focus on ESG-compliant investments
The experienced Portfolio Management team consists of founders Luca Pesarini and Arnoldo Valsangiacomo, as well as multi-asset expert Michael Blümke. “The fund has always weathered challenging market phases, because we have an in-depth knowledge of the macroeconomic environment and a clear view of the constantly changing financial markets,” says Blümke. “We don't follow every trend that arises, but we also understand the importance of adapting to the circumstances on the financial markets in a constantly changing world.” Currently. one of the key areas of focus for the Portfolio Managers is ESG-compliant investments. Here, the Portfolio Managers are working towards a more sustainable future, while continuing to deliver a strong performance. Thanks to these efforts, in 2021, the Ethna-AKTIV (e.g. T Class) was recognised with four ESG Globes from Morningstar and an AA ESG rating from MSCI.