Wealth Management
Investing starts with what the wealth has to do, not with what is for sale.
We invest wealth for families, entrepreneurs and institutions. For one client we manage the whole portfolio. Another prefers to decide, and gets the analysis and the proposal from us.
Either way it starts with your goals, your horizon and the movement you are able to live with.
Your goals steer the portfolio, not the other way round.
What should the portfolio do for you?
A portfolio can have different jobs. Producing income, preserving purchasing power, growing over the longer term, or keeping wealth available for a future investment. Usually several goals apply at once.
That is why we do not start from a standard allocation or an expected return. First we establish when you may need the wealth, how much movement you want and can tolerate along the way, and which decisions you want to keep making yourself.
The investment policy follows from that. It can apply to one portfolio at one bank, but equally to investments spread across several banks and accounts.
Two ways of working together
Discretionary management
We manage the portfolio within the investment policy we set out together. We buy and sell without calling you every time, and the reporting shows you what happened and why. This is the form for those who want to hand over the daily work without losing control of the policy.
Investment advice
You decide, we provide the analysis and the proposal. Our advice is independent and not tied to a product range of our own. A second opinion on a proposal that is on the table elsewhere belongs here too. This is the form for those who want to stay at the wheel.
The two can also run alongside each other. Part under management, part under advice, with one report across the whole.
What you can count on
We select investments independently and are not tied to the range of any one bank or provider. A fund, a manager or a passive instrument is a choice for us, never an obligation.
We keep costs as low as is responsible. Where possible we use institutional fund classes rather than retail classes, keep the custody structure simple, and pool purchasing where several clients use the same instrument. We receive no retrocessions. Should a third-party fee ever reach us, it is passed on to you.
Part of the discretionary management can be carried out through our own sub-funds. Variable costs then run through the sub-fund, and alongside that we charge only a fixed file fee. So no second layer of management cost is added. For larger mandates the management can also be set up directly. Investment advice stands apart from this and remains fully independent.
The founders invest their own wealth with Andreas Capital.
How we invest
The way we invest rests on six convictions. They determine what we buy, what we leave alone and when we step in.
Return requires taking risk
Taking risk is necessary to generate a return. We believe a calculated risk earns a fitting return. Choosing a passive instrument is an active choice as well. Our added value is in the selection and in actively managing risk, for instance by shifting between equities and bonds along the way.
Invest for the longer term
Investing for the long term brings more possibilities and a better chance of a good return. You will find investors here who are not distracted by the noise of the day and who look at the real economic value of a business and the free cash flow it produces. That value ends up in the price eventually.
Spreading across more sources of return
Spreading across asset classes and across positions reduces risk. We look continuously for sources of return that behave differently from the rest and combine them in your portfolio. Over a longer period those sources deliver at different moments, which steadies the value.
The power of simplicity
At their core, direct holdings in equities and bonds are not complex. That makes risk, return and cost reasonably possible to judge. With more complex products it is a good deal harder, and then the simple solution is usually the better one.
Costs are certain, returns are not
Costs come before the proceeds, and if extra cost brings no extra return it is better avoided. We invest actively where that pays. Where we are not convinced it pays in a given market, we use passive instruments to keep cost down.
Discipline over prediction
Choosing the right investments has nothing to do with luck. It follows from disciplined work, with expert people, good systems and settled processes.
The investment view is made by our portfolio management team, with the International Advisory Panel as its sounding board: periodic discussion of the macro-economic environment and the themes that matter at the time.
And how it runs
Mapping it out
Your financial position and your goals first. Where the wealth comes from, what the income sources are, when you need liquidity, and what an existing portfolio is doing.
The investment policy
Those goals become an investment policy and a strategic allocation. Which asset classes, listed and alternative, which style per market, and a framework for liquidity and cash flow.
Setting it up
Managers, custodians and platforms are selected and connected, the transactions carried out, and the reporting set up the way you want to receive it.
Following through
From that point on, we stay alongside you. We follow performance and markets, weigh risk and rebalancing, and test progress against your goals. If your situation changes, the policy adapts with it.
Does your question go beyond the portfolio?
When administration, several banks, shareholdings, structure or arrangements within the family also play a part, our Family Office services can keep the whole coherent.
Every portfolio has its own goal. So the conversation starts with what you want to achieve and not with our offering.
or call +352 87 82 971