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In many respects, the coronavirus is leaving its mark. Public life, the economy and the capital markets have all been hit hard. "We are currently seeing a proverbial Black Swan with all its scope and consequences," says Michael Blümke, one of the Lead Portfolio Managers of the Ethna-AKTIV, Ethenea's flagship fund. The economic impact caused by the global spread of the virus and the measures taken to contain leave little doubt that a global recession is no longer probable, but certain.

This month marks the 20th anniversary of when the dotcom bubble burst. How did the bubble come about? Given the dominance of technology equities at the moment, are we running the risk of a repeat? In our latest Market Commentary Harald Berres looks at the origin of the “new economy” and what differentiates the situation then from the situation now.

Every quarter, the experts of ETHENEA hold a web conference to inform you about the positioning of the Ethna Funds, as well as the current situation on the markets. As a service to you, we have provided an overview of the central questions from our February web conference in this publication entitled CLEAR AND SIMPLE.

There is often talk of a bubble forming in bond markets, especially in the U.S. Jamie Dimon, CEO of JPMorgan Chase & Co, also recently gave his thoughts on this matter, and this has prompted us to discuss the topic. In our latest Market Commentary Dr Volker Schmidt discusses the bubble situation both in the U.S. and in Germany.

ESG is the abbreviated version of ‘Environmental, Social, and Governance’, criteria that many investors use alongside financial factors in their investment decisions.

Looking back on 2019, “Don’t fight the Fed” is a very fitting motto. What does this mean for 2020 and what positioning should capital investors adopt? In our latest Market Commentary, Michael Blümke deals with this as well as the striking parallels between the last decade and the year 2019.