We examine long-term relationships of capital markets and take advantage of the insights acquired in fund management. The valuation of international stock markets and sectors is one of our key research subjects.
Selected insights of our in-house research are presented in the section Studies. The most interesting relationships as well as their implications on current and future market developments are presented graphically in the section Research In Charts.
Internal and external research studies have shown that long-term stock market returns can be predicted from its valuation. Therefore, current valuation ratios of selected countries and sectors can be found under Stock Market Valuation and Sector Valuation, respectively. Besides fundamental valuation ratios such as the cyclically adjusted Shiller CAPE or PB, also technical indicators like the relative strength are considered.
The Stock Market Expectations section depicts the long-term return potential for various stock markets.
The questionable quality of short-term analyst’s forecasts is examined in the section Analyst's Forecasting.
We do capital market research with professionalism and passion and regularly offer internships in the research department to interested students. Thereby, we support academic theses in the field of factor investing (such as Value and Momentum), stock market and sector allocation.
More information can be found on our career page.