Luca Pesarini

Active, flexible and focussed on capital preservation - the Ethna-AKTIV is and remains a stable basic investment for a balanced portfolio.

The era of negative interest rates is over and markets remain under the spell of geopolitics and high inflation. Solutions are needed that offer (and deliver) value growth even in this environment and stand out for their low volatility. The Ethna-DEFENSIV as a bond-focused mixed fund has this potential and is suitable for conservative investors as a long-term basic investment.

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.