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ACATIS News

16th ACATIS Value Prize awarded

Learn more about the prize winners

ACATIS Investment awards prizes to scientific papers on value-oriented investment strategies.

The ACATIS Value Prize, endowed with a total of 7,000...

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Italian push with German flavour

Report on the ACATIS GANÉ Value Event Fonds, investmenteurope.net, 08/2018

ACATIS GANÉ Value Event Fonds was made available for retail investors in Italy in May 2018, on the verge of its 10th anniversary.

Read the full...

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Dr. Hendrik Leber shares developments regarding the four fund members of the ACATIS AI-family

Livestream Recording, 4th NextGen AI Aware Event

Click here to watch the livestream recording given by Dr. Hendrik...

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ACATIS GANÉ multimedia conference on November 20th 2018

Register here right now

"Investing in times of political and monetary turbulence and...

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Why is ACATIS AI Global Equities so unique?

by Marie Ballorain, Institutional Sales, France and Benelux

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"A crazy week in India"

by Siddharth Mehta-Thomas, Beaconsfield Investment Management, advising on ACATIS Investment

ICICI Securities is India's leading share brokerage platform with over 10% market share and 4.1 million active clients, deriving its strength from its...

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Share report: Unichem Labs.

by Siddharth Mehta-Thomas, Beaconsfield Investment Management, advising on ACATIS Investment

Unichem Labs. (BSE:UNICHEMLAB) is a 74 year-old trusted pharmaceutical firm supplying drugs globally including to important markets like US and...

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Why I love to sell ACATIS AI BUZZ US Equities

by Amit Kapoor, Institutional Sales, UK and International

Wouldn’t you like to know where the BUZZ is before investing?
The newest addition to our AI platform does just that. The ACATIS AI BUZZ US Equities...

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ACATIS Strategies

Value
We invest if a security’s fair value is higher than its market price. We invest in undervalued equities, countries, sectors, funds, or fixed-income securities. In our funds we hold value, growth and turnaround securities that are trading at a substantial discount to their fair value. Where necessary, we hedge against price shocks. With our systematic methodology we achieve significantly higher returns over the longer term compared to other investment techniques.

Artificial Intelligence (AI)
We have been working on artificial intelligence (AI) and its use in portfolio management for several years now. In 2017, we launched the world’s first mutual fund whose stock selection and portfolio construction process is entirely controlled by artificial intelligence. Another fund followed in 2017 and 2018.

Smart Beta
Under the name "Modulor", we offer smart beta products that combine value anomalies with quantitative insights.

Sustainability
We have also been successfully offering funds in the area of sustainable investments for many years. The criteria used in our sustainability funds were developed together with investors by Swiss-based ACATIS Fair Value Investment AG, which advises us in the sustainability field. The sustainability research is also based on imug/Vigeo EIRIS and an independent sustainability advisory board that monitors compliance with the sustainability criteria and their topicality.

ACATIS Awards

ACATIS views itself as a value manager in asset and fund management

Value Investing

ACATIS views itself as a value manager in asset and fund management.

An investment style that is based on the “genuine“ values of companies and markets must outperform a passive or trend-oriented investment policy in the long term. Wider price fluctuations may occur with this style. Value investing is successful in the long term, because it is geared toward the value and not the price of companies.

The most successful investors were always value investors such as billionaire Warren Buffett from Omaha, Nebraska (US). Numerous academic studies have also confirmed the pre-eminence of the value methodology.

ACATIS has been practising the principles of value investing successfully, for which it has been rewarded with a good performance and numerous awards.

Value investing in practice

In a monthly rhythm we screen the global equity markets for the few stocks that meet our criteria of favourable valuation and high quality.

Our computers have estimated a fair value and calculated performance indicators for most of the stocks worldwide that are considered to be in our universe. Among these stocks we find one to three stocks each month that satisfy our criteria. We buy them with the intention of holding them for several years and only selling them again when they exceed their fair value. We are not influenced by short-term newsflow.

This produces the positive results of the equity funds managed by ACATIS.

Investmentsfonds

ACATIS currently manages several investment funds, including equity, mixed and bond funds as well as mandates. In addition, four funds pursue the aspect of sustainability. Three funds are managed on the basis of artificial intelligence. The flagship fund ACATIS Aktien Global Fonds was launched in 1997.

Sustainability – has been an important issue for ACATIS for decades

ACATIS has had an interest in sustainability for many years. When our partner Faik Yargucu joined the company, he was already responsible for marketing a very successful sustainability investment fund, Panda Renditefonds DWS, at the end of the 1990s. Therefore we - as convinced value investors - have considered this issue for a long time already. We are also convinced that ecology and sustainability will become more important in the future, also for financial investments.

In 2007/2008, we combined sustainability (Fair) and Value under the name “ACATIS Fair Value” together with the Swiss firm ACATIS Fair Value Investment AG, which is based in Walzenhausen, Switzerland. Managing Director and initiator Rainer Unterstaller is responsible for selecting companies based on sustainable and ethical aspects. This combination has proved to be a strong unique selling point and in the past delivered higher returns than individually applied strategies (over longer time periods). Our sustainability funds show: Sustainability is not a hobby, but rather can become a real performance criterion.

Initially, the globally-investing equity fund (ACATIS Fair Value Aktien Global, ISIN I0017502381) and a balanced fund (ACATIS Fair Value Modulor Vermögensverwaltungsfonds, ISIN LU0278152516) were converted to sustainability; the former Panda bond fund was added to this group in May 2010 under the new name ACATIS Fair Value Bonds (ISIN DE0009769844). We also manage special mandates with sustainable companies, and we are also an investment advisor for PRIMA Global Challenges, an index-tracking globally-investing equity fund.


What is Fair - how do we define sustainability?

This part is the responsibility of ACATIS Fair Value Investment AG. It selects companies according to sustainable and ethical aspects, the ACATIS Fair Value sustainability criteria. It supplies the investable stock universe that it defines together with Hanover-based rating firm Imug/ Vigeo-EIRIS, and which it approves through an independent sustainability advisory board (the “conscience” for the funds).

The criteria were developed together with our clients. They are continuously monitored and reviewed. In summary: Those companies that meet and comply with high standards regarding business, social, ethical and ecological criteria are selected. In more detail: We filter and assess based on a points system.

  • Companies with obviously negative characteristics are filtered out: They include corruption and accounting fraud, embryonic stem cell research, child labour, oil from tar sands, shale and power plant coal.
  • Companies in which e.g. alcohol, tobacco, pornography, gambling, nuclear energy, armament and weapons account for more than 5% of sales revenues are also excluded.
  • Countries that enforce the death penalty, possess nuclear weapons or whose share of nuclear power exceeds 15% are excluded.
  • In 2017, the exclusion list consisting of companies in which the Norwegian sovereign wealth fund does not invest was added to the prohibited list.
  • Negative points are applied for deficiencies regarding the environment, the social area and company management. Companies with more than 10 negative points are filtered out.
  • Companies can win positive points if they impress with social and ecological aspects, clean water and air, recycling and the use of renewable energies for example. If a company has more than six positive points, it can generally be considered a candidate for our sustainability universe.

At this time, the sustainability universe includes 2,200 admissible companies, 500 bond issuers and 31 countries.

First we run the “Fair” evaluation, and only then the Value evaluation according to our value investing criteria.

Quality standard for sustainable investments - how do others see us?

All of our sustainability funds feature the FNG seal (one star) and the logo for the transparency code.

The FNG seal was awarded for the first time in 2016. Only candidates that strictly comply with the high quality standards for sustainability investments in the German-speaking regions, which were developed by the Forum Nachhaltige Geldanlagen e.V. (FNG), are eligible for the seal. It provides investors with a rapid and secure orientation aid when investing in sustainable funds.

The transparency code is awarded by EUROSIF (European Sustainable and Responsible Investment Forum). The seal has been available for mutual funds since May 2008; it provides investors with a tool for determining - quickly and securely - whether the investment strategy complies with the sustainability requirements of the European Transparency Code.

Artificial intelligence in portfolio management at ACATIS

Many people associate artificial intelligence (AI) with robots and self-driving cars. At the same time, the availability of huge volumes of mass data and the rapid increase in processing power also mean that AI is predestined for use in portfolio management. Through machine learning, key characteristics are detected over time, allowing the system to find patterns that even the most seasoned analyst would struggle to detect.

Application areas for AI in the investment segment include:

  • enterprise valuations
  • predictions of future “winner stocks”
  • portfolio optimisation
  • detection of critical text passages
  • identification of similar firms

Dr. Hendrik Leber shares developments regarding the four fund members
of the ACATIS AI-family at the 4th NextGen AI Aware Event

News

16th ACATIS Value Prize awarded

Learn more about the prize winners

ACATIS Investment awards prizes to scientific papers on value-oriented investment strategies.

The ACATIS Value Prize, endowed with a total of 7,000...

Kategorie:
Read more

Italian push with German flavour

Report on the ACATIS GANÉ Value Event Fonds, investmenteurope.net, 08/2018

ACATIS GANÉ Value Event Fonds was made available for retail investors in Italy in May 2018, on the verge of its 10th anniversary.

Read the full...

Kategorie:
Read more

Dr. Hendrik Leber shares developments regarding the four fund members of the ACATIS AI-family

Livestream Recording, 4th NextGen AI Aware Event

Click here to watch the livestream recording given by Dr. Hendrik Leber and Jamie Wise at the 4th NextGen AI Aware Event.

Kategorie:
Read more

90-second quick-fire showcase on our AI Global Equity Fund

by Amit Kapoor, Institutional Sales UK and International

Last week, Amit Kapoor, Institutional Sales of ACATIS in UK and International, took part in the Fund Forum Berlin. The conference’s main themes this...

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Searching for Investor Sentiment Across Online Platforms with AI

Jamie Wise, BUZZ Indexes, at our Value conference 2018

Here you can see the whole presentation of Jamie Wise, BUZZ Indexes:
https://www.youtube.com/watch?v=EdmT9hoojrE&list=PLf5u9d7zdzkY45R_uJOAX-JkjVJL0-J...

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What do Race Drivers and Cows Have in Common? Realtime Monitoring of Animals and Humans

Prof. Daniel Berckmans at our Value Conference 2018

Here you can see the complete presentation of Prof. Berckmans:

https://www.youtube.com/watch?v=Y3vpLRVDrYs&index=7&list=PLf5u9d7zdzkb09XdMePGvhrGk615...

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ACATIS GANÉ multimedia conference on November 20th 2018

Register here right now

"Investing in times of political and monetary turbulence and technological change"

How can dangers be avoided and where can opportunities be seized...

Kategorie:
Read more

Why is ACATIS AI Global Equities so unique?

by Marie Ballorain, Institutional Sales, France and Benelux

Kategorie:
Read more

"A crazy week in India"

by Siddharth Mehta-Thomas, Beaconsfield Investment Management, advising on ACATIS Investment

ICICI Securities is India's leading share brokerage platform with over 10% market share and 4.1 million active clients, deriving its strength from its...

Kategorie:
Read more

Share report: Unichem Labs.

by Siddharth Mehta-Thomas, Beaconsfield Investment Management, advising on ACATIS Investment

Unichem Labs. (BSE:UNICHEMLAB) is a 74 year-old trusted pharmaceutical firm supplying drugs globally including to important markets like US and...

Kategorie:
Read more

Why I love to sell ACATIS AI BUZZ US Equities

by Amit Kapoor, Institutional Sales, UK and International

Wouldn’t you like to know where the BUZZ is before investing?
The newest addition to our AI platform does just that. The ACATIS AI BUZZ US Equities...

Kategorie:
Read more

Share report: IDFC Ltd (IDFC IN)

by Siddharth Mehta-Thomas, Beaconsfield Investment Management, advising on ACATIS Investment

-    IDFC Ltd holds 53% of IDFC bank, a stake today worth Rs.70 billion.
-    IDFC Bank itself is deeply undervalued, trading at below book value...

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