Skip to main content


A strong and independent partner in the financial world

ETHENEA Independent Investors S.A. is a non-bank affiliated investment management company. Our Portfolio Managers actively manage a range of funds: the three Ethna Funds, the Ethna-DEFENSIV (bond-focused), the Ethna-AKTIV (balanced) and the Ethna-DYNAMISCH (equity-focused), as well as the HESPER FUND – Global Solutions (a global macro fund).


A strong and independent partner in the financial world

ETHENEA is an owner-operated, non-bank affiliated investment company responsible for managing the Ethna Funds. The assets actively managed by our Portfolio Managers are spread across three multi-asset conservative funds.

ETHENEA Independent Investors S.A. is a non-bank affiliated investment management company. Our Portfolio Managers actively manage a range of three multi-asset funds and a global macro fund.

Some key facts about ETHENEA

2.43 billion euro

The amount of assets our Portfolio Managers actively manage (as of 30/06/2023).


The number of countries in which our funds are currently distributed.

10 years

The anniversary that ETHENEA Independent Investors S.A. celebrated in 2020.


The number of employees assigned to portfolio management.

OUR Philosophy

Our guiding principles as a non-bank affiliated asset management company

At the core of our business is managing and safeguarding the fund assets entrusted to us. As an investment management company, we know that we are accountable to our partners and our investors. Diligence, integrity, responsibility and partnership are not only the values of our funds, they also guide our actions and are the key to long-term success. With our expertise, our commitment, our know-how, and our service focus, we support our clients in achieving their investment goals.

Environmental, Social, Governance

Responsible investing


Investing responsibly

Our commitment to provide our clients with responsible investment solutions that offer competitive and sustainable returns is reflected in all of our investment policies, processes, and practices. We also make it our aim not to invest in companies involved in any of the following areas...


Although the tobacco industry has always been a profitable investment, many investors are concerned that the industry’s societal costs significantly outweigh its benefits. That’s why we signed the Tobacco-Free Finance Pledge in January 2019.


Armaments, in particular civilian firearms, is an incredibly polarising topic. At ETHENEA, we have decided not to invest in any company that, as a significant part of its publicly declared business, is involved in this area.

Food speculation

Speculation on staple foods such as wheat, maize, and soy, results in significant price fluctuations and leaves millions starving and facing increasing poverty. Therefore, we have made a conscious decision not to invest in any companies involved in food speculation.

Human dignity

In today’s society, increasingly more attention is being given to the prevention of sexual exploitation. Therefore, for ethical reasons, ETHENEA has chosen not to invest in companies whose core business is in the adult entertainment industry.

ETHENEA’s social commitment

We are always proud to be able to support good causes

We are continually inspired by people who take an opportunity and turn it into something great. But, because opportunities are not available to everyone, we are currently working on paving the way towards a better future for children and young people.
This is something that is near and dear to us.


Every child has a right to an education

Primary school buildings in Cameroon

The education of children and young people is something that means a lot to ETHENEA. That is why we support Ashia, a non-profit organization with the goal of helping destitute people, in particular children, in Cameroon. Their work focuses on constructing and equipping schools, orphanages and hospitals, as well as on educating the people and ensuring children with disabilities receive vital operations.


Let’s paint a brighter future!

Elephant Parade Swiss Tour 2020

The ELEPHANT PARADE is a charity project that originated in Thailand. The project holds exhibitions each year, with the aim of drawing worldwide attention to the fate of the highly endangered Asian elephants. The first parade was organised in Rotterdam in 2007 and then in 2013, the organisers also visited our neighbourhood - Trier and Luxembourg. Since its inception, there have been 30 parades.

The future of the children is our great concern

Bethanien Kinderdorf in Eltville

ETHENEA supports the Bethanien Kinderdorf Eltville in Rheingau. "The future of the children is our great concern – they need to be protected and supported", says Luca Pesarini, founder of ETHENEA and one of the Lead Portfolio Managers of the Ethna-AKTIV. In order to provide children and adolescents with an even better level of care, ETHENEA is investing in their future.


Bringing joy to those who need it most

Île aux Clowns

ETHENEA is pleased to support the great work carried out by the Île aux Clowns. Île aux Clowns aims to bring laughter and joy to people in difficult situations. The bright and cheerful clowns help improve the quality of life of both children and the elderly, in hospital or any other social facility. They ease the burden on support staff by bringing comic relief and strengthening the partnership between the caregiver, the dependant person and their loved ones.