Symbolic Politics in Asset Management / UEFA EURO 2024

Good Morning Ladies and Gentlemen

„I never won a fight in the ring; I always won in preparation.“

Muhammad Ali

Symbolic Politics in Asset Management

There are more styles in asset management than most investors anticipate. In principle, this is fantastic as it allows investors to choose the style of their preference or even to mix styles. The problem is that not all asset managers are equally loud when selling their case, and some asset managers act as if they have found the holy grail of asset management, which, of course, is absolute BS. Pardon my French! As I mentioned before, it almost seems that some asset managers are in a kind of religious war over the only true doctrine and insist that their view of the world and their investment approach is the only correct one; obviously, others claim the opposite. This leads to systemic entrepreneurial rivalry among banks, asset managers, analysts, etc., and I am not convinced this is only good for investors, as they may get carried away by hidden marketing in colourful brochures without really understanding the underlying concept. Unfortunately, the media plays along, especially if they get paid for it. This, Ladies and Gentlemen, is a genuinely aberrant development if you ask me.

Our Private Clients

At Incrementum AG, we are unwavering in our commitment to our clients‘ understanding and satisfaction. We offer only one mandate style for private clients: equity-based and cashflow-producing. In every quarterly report to our clients, we reiterate the basics of our approach, ensuring that every single one of our private clients fully comprehends the concept. If our approach is not suitable for a client, we are dedicated to helping them find a more suitable solution at another bank and/or asset manager. Our clients‘ understanding and satisfaction are at the core of our operations, and we value their trust in us.

Why are we doing this

Our approach at Incrementum AG is designed to avoid short-term tactical decisions. We believe that if our investors understand the concept, we are not forced to adopt such tactics to please clients in the short term. Instead, we can adhere to our well-founded and clearly defined investment approach without fear of short-term dissatisfaction. This approach not only makes sense for our clients but also for us, as it allows us to focus on the long-term strategy and the best long-term interests of our clients.

UEFA EURO 2024

Again, the European Football Championship seems to have succeeded. It still feels like a holiday from life and the daily flood of negative news that the media landscape of the past few years has produced. I am even happier than last week because Switzerland made it to the quarterfinals and will play England on Saturday. Hans is also super happy because Germany will play Spain this evening. Ronni, on the other hand, is disappointed because Austria was eliminated by Turkey despite having had much more ball possession and many more chances to score.

What we can learn from football

We have our own WhatsApp chat group among Incrementum AG’s partners. When Switzerland and Germany made it into the next round, we followed the matches and sent messages to support our respective partner’s teams. We cheered on our partners‘ teams, were happy for them to win, and congratulated each other or, as was the case for Austria after the bitter elimination, tried to console Ronni. Emotions are important!

Muhammad Ali

What can we learn from Muhammad Ali’s “I never won a fight in the ring; I always won in preparation”? When choosing an asset manager, try to prepare yourself. Why not with the help of a decision-making matrix? (My kids would laugh because I always tell them to use a decision-making matrix for complex decisions, especially when choosing their partners). But I am convinced it helps Ladies and Gentlemen; if you think about your requirements, write them down and compare them to the offerings in the market. Like this, you may win thanks to preparation.

Ladies and Gentlemen

As always, please share your opinion with me, but please do not forget (instead of hitting the reply button) to send your messages to smk@incrementum.li

Many thanks, indeed!

I wish you an excellent start to the day and the weekend!

Yours truly,

Stefan M. Kremeth
CEO & Head of Wealth Management
Incrementum AG – we love managing assets

Tel.: +423 237 26 60
Cell: +41 79 303 48 39
Im alten Riet 153
9494 Schaan/Liechtenstein
Mail: smk@incrementum.li