Our investment beliefs

We have a very long-term investment horizon. This gives us access to a wide investment universe and enables us to withstand short-term fluctuations on the capital markets. 

The strategic asset allocation determines the bulk of the risk we accept, and thus the success of our investments. It is therefore the most important decision we make. 

By capturing systematic risk premiums and employing broad diversification across asset classes and portfolios, we optimise the risk/return profile.

We invest responsibly. When implementing the strategic asset allocation, we take account of environmental (E), social (S) and governance (G) criteria, with the intention of achieving a risk/return profile that is at least as good or better over the long term. 

We aim to construct a portfolio that is cost-efficient and comprehensible. We favour simplicity and transparency. We invest in more complex asset classes only if we are able to make the required investment and have the knowledge necessary to do so, and if higher risk premiums justify the complexity.

We are not in a position to systematically exceed market returns, and we therefore choose rules-based reference portfolios and passive implementation as the basis of our investment activity. We deviate from this when it is impossible to replicate a reference portfolio, there are clear signs of market failure, or we can reduce the risk by doing so.

We define clear objectives, measure our successes and explain deviations from them.

PUBLICA’s strong governance contributes to the long-term success of our investment activity.