The STARS ETF strategies managed by Markus Kaiser are a holistic tool for investors who want to capitalize on financial market developments worldwide but do not want to constantly monitor their investments and make all the necessary decisions themselves.

Investment Case

The STARS Model

The STARS funds are rebalanced on a regular basis in response to market developments. A systematic investment process is used to identify the most attractive markets and asset classes worldwide and bundle them into a single portfolio by means of low-cost ETFs. These ETFs must meet high standards to qualify for inclusion in a STARS portfolio. The cost, transparency and tradability of an ETF are just as important for performance as are global portfolio diversification and the constant management of overall portfolio risk.

Besides trend analysis, excessive moves to the upside or downside are analyzed to capture investment opportunities and anticipate emerging risks early on. As a result, macroeconomic activity and changes therein are constantly reflected in the STARS portfolio structures. The STARS investment model is a combination of three key mechanisms that figure prominently in modern asset management: trends, asset allocation and risk management.

STARS investment process

The StarCapital STARS funds are managed using a systematic, rules-based investment process in which subjective opinions are excluded. This enhances the stability of their investments, particularly during periods of market turbulence. The asset allocation weightings for stocks, commodities, bonds and money market investments are flexibly adjusted within the given parameters.

Within the scope of predefined weightings, the maximum equity allocation for a STARS fund will only be selected if the corresponding market trends are positive. If the market environment deteriorates and a downward trend is indicated, the equity allocation can be reduced to the minimum value, in some cases to 0%, by selling the holdings of equity ETFs. The resulting proceeds can then be re-invested in conservative bond or money market ETFs, provided they are displaying positive trends.

Actively managing the various asset allocation weightings fulfils two objectives. First, the effect of declining asset prices on the given portfolio risk structure can be kept to a minimum and, second, alternative asset classes such as bonds tend to offer upside potential when stocks are weak.

The timely reduction in the equity weighting of a STARS ETF fund during a market downturn also means that exposure to this more offensive class can be increased when stocks begin to advance again without first having to recoup any heavy losses.

Our expertise

The award-winning StarCapital fund management team boasts decades of experience and combines that experience with internal capital market research know-how.

Team regelbasierte Strategien

Markus Kaiser
Markus Kaiser, Leiter regelbasierte Strategien
  • Since 2013 member of the Executive Board of StarCapital AG and ETF Fund Manager
  • 2001 – 2013 Managing Director and Fund Manager at Veritas Investment GmbH
  • 2000 – 2001  Portfolio Manager and Technical Analyst at PEH Wertpapier AG
  • 1997 – 2000  Portfolio Manager and Technical Analyst at OCM Vermögensverwaltung GmbH
  • Economics studies, degree in asset management (DIA)
  • Certified Asset Manager (DIA), Freiburg
Andreas Krauss
Andreas Krauss, Portfolio Manager
  • Since 2013 Portfolio Manager at StarCapital AG
  • 2011 – 2013 Risk Manager for products and corporates at Veritas Investment Trust GmbH
  • 2009 – 2010 Fund Administration Officer at Helaba Invest Kapitalanlagegesellschaft mbH
  • 2005 – 2009 Team Manager, custodian bank services at Société Générale S.A.
  • Studies in banking, Certified Banking Spec
  • Studies in banking, Certified Banking Specialist
  • Markus Kaiser
  • Andreas Krauss

Our investment solutions

The STARS ETF strategies may only be offered to private and professional investors in Germany.

Product Date ISIN NO. NAV YTD 1YR 3YR Factsheet

STARS Defensiv

> I-EUR 16.07.2018 LU0944781110 1,136.37 -1.71% -0.19% -1.78% n.a.
> A-EUR 16.07.2018 LU0944780906 11.19 -2.10% -0.89% -3.49% n.a.
> R-EUR 16.07.2018 LU0944781037 11.23 -2.26% -0.88% -3.66% n.a.

STARS Flexibel

> I-EUR 16.07.2018 LU0944781466 1,274.00 -2.26% 0.48% 1.20% n.a.
> A-EUR 16.07.2018 LU0944781201 12.17 -2.72% -0.41% -0.81% n.a.
> R-EUR 16.07.2018 LU0944781383 12.22 -2.78% -0.24% -1.24% n.a.

STARS Offensiv

> I-EUR 16.07.2018 LU0944781896 1,444.07 -0.32% 3.16% 10.52% n.a.
> A-EUR 16.07.2018 LU0944781540 13.90 -0.36% 2.28% 7.66% n.a.
> R-EUR 16.07.2018 LU0944781623 14.20 -0.35% 2.45% 8.35% n.a.

STARS Multi-Faktor

> I-EUR 16.07.2018 LU0938041398 1,050.58 -3.20% -3.68% -7.86% n.a.
> A-EUR 16.07.2018 LU0938040077 10.50 -3.23% -3.76% -7.92% n.a.


Markets & Opinions / 13.07.2017

Lesen Sie den STARS-Newsletter vom Juli 2017.

Products & Services / 13.02.2017

 "Fondsinnovation des Jahres 2017"- Auszeichnung des Finanzenverlags.

Markets & Opinions / 13.01.2017

Lesen Sie den aktuellen STARS-Newsletter vom Januar 2017.

Markets & Opinions / 14.12.2016

Lesen Sie den aktuellen STARS-Newsletter vom Dezember 2016.

Markets & Opinions / 05.12.2016

Euro Fondsxpress über den SC Fonds STARS Multi-Faktor.