Global equity strategies
The evidence is clear: anti-cyclical investments in undervalued companies deliver above-average returns over the long run. From a country perspective, too, an attractively valued region will offer significantly better returns than a region that is expensively valued. We take advantage of this evidence in our global equity strategies by investing in undervalued companies, or value stocks, from the most attractively valued countries and sectors and, to a limited extent, in weakly correlated turnaround plays and so-called GARP companies (Growth At a Reasonable Price), or growth stocks trading at enticing valuations, which helps to optimize the portfolio's risk/return profile.
We pursue a countercyclical strategy when investing in undervalued companies and use momentum indicators to improve the timing of our investment decisions. In most cases we forgo short- to mid-term forecasts.
Country and sector allocations are far more important in determining the portfolio structure than the selection of individual stocks. But why invest in a particular market if the corresponding return expectations are barely positive, or even negative? Our research shows that even at country level investing in inexpensively valued securities pays off: Inexpensive stock markets have the greatest potential, whereas pricey markets with expensive valuations tend to underperform. We therefore focus our investments on countries that are trading at less than fair value while avoiding overvalued equities, without being bound by any benchmark constraints. Foreign-exchange aspects, sentiment, liquidity and risk factors also play a role in our investment process and determine the overall investment exposure.
The award-winning StarCapital fund management team boasts decades of experience and combines that experience with internal capital market research know-how.
Team Equity Strategies
Dr. Manfred Schlumberger, Head Portfolio Management
- Since 2019 a member of the Executive Board and Chief Investment Officer at StarCapital AG
- 2017 - 2018 Member of the Executive Board and Deputy Chief Investment Officer at StarCapital AG
- 2016 – 2017 Chief Investment Officer at Berenberg Joh. Berenberg, Gossler & Co. KG
- 2001 – 2016 Management spokesman at BHF TRUST
- 1994 – 2001 Executive Officer at Frankfurter Volksbank eG
- Studies in economics, post-graduate degree in economics
Norbert Keimling, Portfolio Manager
- Since 2006 authorized officer and Head of Quantitative Value Strategies and Capital Market Research at StarCapital AG
- 2004 – 2006 Analyst at Huber Portfolio AGl
- Business informatics studies, degree in business informatics
Dr. Nora Imkeller, Analyst
- Since 2016 Analyst for Portfolio Management and Capital Market Research at StarCapital AG
- 2011 – 2013 Research Assistant at the Fraunhofer Institute for Industrial Mathematics
- 2009 – 2013 Post-graduate studies in portfolio optimization, Dr. rer. nat.
- Studies in industrial mathematics with a focus on financial applications, mathematics and economics degree (Dipl.-Math. oec.)
Simon Westendorf, Portfolio Manager
- Since 2018 Portfolio Manager at StarCapital
- 2016 - 2017 Graduate Trainee at Deutsche Bank (Deutsche Asset Management)
- Master's programme in Management (Finance and Accounting), Master of Science (M.Sc.)
Johannes Alschwee, Portfolio Manager
- Since 2018 Analyst and Junior Portfolio Manager at StarCapital
- International studies at the University of St. Gallen and ESADE Business School, Master in Finance
Our investment solutions
StarCapital's global equity funds are investment vehicles within a UCITS regulatory framework that offer daily liquidity and are managed according to the countercyclical investment strategy described above.
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Markets & Opinions / 21.08.2017
Lesen Sie den StarInvest Newsletter vom August 2017.
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Markets & Opinions / 01.03.2017
Norbert Keimling im Interview mit die Fondsplattform.