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Do unicorns exist? ”Yes, they most certainly do!” asserts our Senior Portfolio Manager Christian Schmitt. With their deep pockets and aggressive expansion strategies, they are posing an ever-greater threat to the business models of long-established companies. This causes structural distortion in markets. Find out in our latest video what criteria can steel the Ethna-DYNAMISCH against these distortions.

This September saw stress in the US interbank market, putting financial institutions into jeopardy for a time. What caused this and what conclusions can be drawn? Martin Dreier answers these questions in our latest Market Commentary.

Not even the Fed's first interest rate cut in July was able prevent the mood of purchasing managers in the U.S. manufacturing sector from entering negative territory. The new trade tariffs with China that came into force on September 1 - and those planned for later in the year - are definitely continuing to unsettle the managers. This increased uncertainty in the manufacturing sector has fuelled fears of an approaching U.S recession, with the inverted U.S. yield curve delivering yet another warning signal.