LeanVal Asset Management AG
LeanVal Asset Management AG

Empowerment Fund MBS

Munich Business School Empowerment Fund

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New ways of promoting universities

As a private university, MBS is looking for new ways to fund scholarships and projects. In raising such funds, the elite U.S. universities with their university funds are a model for us.

These so-called endowments are a typical form of university funding in the Anglo-Saxon world. Harvard founded the Harvard Management Company back in 1974. Here, the university invests donated capital on its own and invests it for profit. The return on capital generated is then used to finance projects and the ongoing operations of the university. Today, this fund represents one of the largest endowments in the world, at around US$40 billion (2019).

Following this concept, the Empowerment Fund was established.

The English term empowerment can be translated as to empower, strengthen and enable. Funding scholarships and projects from the fund is intended to strengthen our students and the university in general. At the same time, the exchange between the university and its supporters is to be intensified.

Double profit through impact-oriented investing

In addition to generating a stable return over the long term, the concept also allows parts of the income to be transferred to Munich Business School. In keeping with the concept of endowment, the invested capital is used to finance charitable projects.

The main difference to donations to organizations or foundations lies in the fact that the capital is only provided temporarily, and can be reclaimed easily by selling the fund units if required. Legally, the donor thus remains a shareholder in the fund and can dispose of its capital at any time.

Why a new fund?

In addition to generating a stable return over the long term, the concept also allows parts of the income to be transferred to Munich Business School. In keeping with the concept of endowment, the invested capital is used to finance charitable projects.

The main difference to donations to organizations or foundations lies in the fact that the capital is only provided temporarily, and can be reclaimed easily by selling the fund units if required. Legally, the donor thus remains a shareholder in the fund and can dispose of its capital at any time.

The "signature" of the portfolio

We decided to design a portfolio beyond classic investment strategies. A strategy that can take advantage of the earning power of stocks, but whose risks are limited by using alternative strategies. The weighting of the individual portfolio components is based on the successful endowment concept of US universities. Since Germany has stricter regulations on investments than the U.S., we have extensively modified the U.S. endowment approach. However, the advantages of broadly diversified asset allocation are retained and risks are minimized.

The asset classes

Strategic Asset Allocation
The weighting of the asset classes is based on the asset allocation of the major U.S. unifunds. The investment horizon is long-term and the portfolio may therefore be subject to medium asset fluctuations.

Bonds
Bond investments are significantly underweighted compared to traditional concepts. Due to the low interest rates, they offer hardly any earnings potential and can no longer be regarded as a security anchor in the portfolio. This function is performed by Dynamic Asset Allocation and Alternative Investments.

Equities
On the one hand, this asset class consists of broadly diversified international equity investments. In addition to the equity expertise of the LeanVal research team, we draw on the world’s best external managers, evaluated by our cooperation partner ffex.

On the other hand, we use a put strategy as Dynamic Asset Allocation, which is managed by our derivatives team.

Alternative Investments
This group of investments plays the central role in the portfolio. The absolute return strategies take over the function of risk diversification in the portfolio. The market neutral strategies, private equity and real estate investments contribute the returns.

The partner

Innovative fundraising concept for Munich Business School

Universities in the U.S. have a long tradition of attracting external funding. Thanks to the support of a strong alumni network, they now have a billion-dollar endowment. These assets are used, among other things, to award scholarships, fund research positions, and defray ongoing costs of university operations.

In Germany, too, alumni and other sponsors are showing increasing interest in providing financial support to universities. The well-known endowment or gift is a form of permanent transfer of assets. Donors must overcome an internal hurdle in this process because “ownership” of the principal is transferred to the university and retrieval is virtually impossible. The Empowerment Fund offers a real alternative to this.

Munich Business School was won as the first partner for the new fund concept. Munich Business School, a state-recognized private business school in Munich accredited by the German Council of Science and Humanities, has been offering cosmopolitan, entrepreneurial personalities an inspiring and international academic environment to develop into responsible leaders of tomorrow for more than 25 years.

Munich Business School impresses with its award-winning programs: Students can lay the foundation for their career with the Bachelor International Business and focus on their individual preferences with one of the Master programs – Master International Business, Master Innovation and Entrepreneurship, Master International Marketing and Brand Management or Master Sports Business and Communication. With the MBA General Management – full-time or part-time – experienced professionals advance their careers. In addition, Munich Business School offers various seminars and courses as part of its executive education program to support the professional development and continuing education of specialists and managers.

Innovative fundraising concept for the Munich Business School

Universities in the USA have a long tradition of attracting external funding. Thanks to the support of a strong alumni network, they now have endowment assets worth billions. These assets are used, among other things, to award scholarships, finance research positions and cover the running costs of university operations.

In Germany, too, alumni and other sponsors are showing increasing interest in providing financial support to universities. The well-known donation or gifting is a form of permanent transfer of assets. The donors have to overcome an internal hurdle, because the “ownership” of the capital is transferred to the university and retrieval is virtually impossible. The Empowerment Fund now offers a real alternative to that issue.

The Munich Business School has been won as the first partner for the new fund concept. For more than 25 years, Munich Business School, a state-accredited and German Council of Science and Humanities-accredited private university for business in Munich, has been offering globally minded, entrepreneurial personalities an inspiring and international academic environment to develop into the responsible leaders of tomorrow.

Munich Business School’s award-winning programs are impressive: Students can lay the foundation for their career with the Bachelor International Business and focus on their individual preferences with one of the Master’s programs – Master International Business, Master Innovation and Entrepreneurship, Master International Marketing and Brand Management or Master Sports Business and Communication. With the MBA General Management – full-time or part-time -, experienced professionals advance their career, the icing on the cake is the DBA Doctorate Program. In addition, Munich Business School offers various seminars and courses as part of its Executive Education program to support the professional development of specialists and managers.

Recovery of the capital employed at any time

The investor can easily dispose of the capital if required by selling the fund units. Subscriptions from alumni and those close to the university will be used to fund scholarships and community service projects in the area of the university. At the same time, this is intended to intensify the dialog between Munich Business School and its supporters. The concept is rounded off by reporting that goes beyond purely financial aspects such as fund performance.

Investors gain insight into the selection of funded projects through ongoing information. Thus, in addition to the financial return, the investor also receives an emotional return for his commitment.

Retrieval of the invested capital at any time

The investor can easily dispose of the capital by selling the fund units if necessary. Subscriptions by alumni and persons close to the university are to be used to finance scholarships and charitable projects in the area of the university. At the same time, this is intended to intensify the dialog between Munich Business School and its supporters.

The concept is rounded off by a detailed reporting that goes beyond purely financial aspects such as fund performance.
Ongoing information provides investors with insights into the selection of projects supported. Thus, in addition to the financial return, the investor also receives an emotional return for his commitment.

Request information material

Service Provider

Investment Manager:
LeanVal Asset Management AG
Bleichstraße 52
60313 Frankfurt am Main

Capital Management Company:
HANSAINVEST Hanseatische Investment-GmbH (HI)

Depository:
Cologne District Savings Bank

Investment Opportunities

Liquidity:
Daily

WKN:
MBS Class: A2PYPG

ISIN:
MBS Class: DE000A2PYPG7

Minimum investment:
1 fund share

Share price:
EUR 100.00 at the issue date April 15, 2020

Fees

Depositary fee:
max. 0.25% p.a.

Management fee:
MBS class: 2.50% p.a. (LVAM) + 0.20% p.a. (HI)

Profit sharing:
20% with High Watermark and 4% Hurdle Rate

Documents

MBS Class

Fund platforms and points of sale

The Empowerment Fund can be subscribed via the usual fund platforms or sales outlets.

Contact

Axel Gauss

+49 69 9494 88 022 Axel.Gauss@lvam.de

Thomas Hunger

+49 69 9494 88 041 Thomas.Hunger@lvam.de

© 2023 LeanVal Asset Management AG

Ansprechpartner:

Thomas Hunger

tELEFON:

+49 69 9494 88 041

Contact person:

Thomas Hunger

PHONE:

+49 69 9494 88 041

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As a visitor to our website, please note the following information. By accessing the lvam.de website, you agree to the content of the following information and confirm that you are a resident of the Federal Republic of Germany. This website of LeanVal Asset Management (LVAM) AG is directed only at persons who are residents of the Federal Republic of Germany. Not eligible for access are all other Internet users, in particular persons residing in the USA¹ or those residing in the Netherlands, Great Britain and Northern Ireland, Canada or Japan. All Internet pages within the website at www.lvam.de are available exclusively in German. The following information is for the private information of the users of this website. This and the following Internet pages are governed exclusively by German law.

The responsible creator for these Internet pages is LeanVal Asset Management AG with its registered office at Bleichstraße 52, 60313 Frankfurt, Germany.

These Internet pages are for information purposes only and in particular do not constitute advertising, recommendations, financial or other advice. They are not an offer or invitation to buy or sell securities or financial instruments.

The sole basis for the acquisition of units in investment funds is the respective valid sales prospectus with the contractual terms and conditions in conjunction with the respective latest audited annual report and the semi-annual report, if such a report is more recent than the latest annual report. These documents can be obtained from the respective management company or custodian bank as well as the paying agents. LVAM AG does not assume any liability for the correctness and completeness of the information provided in these documents.

Investment objectives, experience, risk appetite and financial circumstances of the users of these Internet pages cannot be taken into account.

The securities and other financial instruments presented on these Internet pages may therefore not be suitable as investment instruments for every user. It is possible that the purchase of these instruments may be considered risky. In particular, changes in interest rates and exchange rates may adversely affect the value, price or income of the securities or financial instruments mentioned. Information on performance is always based on past performance. For the forecast of future value and price developments, historical price developments are only an inadequate basis and do not constitute a guarantee. Furthermore, the values and prices shown on these web pages may not represent the price or value available on the relevant market at the time a user wishes to buy or sell a particular security, other financial instrument or currency. Furthermore, the information on these web pages does not take into account values or prices that may differ due to the size of a specific transaction. LVAM AG assumes no responsibility for:

  • the suitability for investors of the securities or other financial instruments presented on the websites,
  • the accounting, economic and tax consequences of an investment in the securities or other financial instruments presented,
  • the future performance of the securities or financial instruments.

It is therefore strongly advised to seek independent advice from investment and tax advisors. By opening these Internet pages and accessing the information contained therein, the user does not become a customer of LAVM AG, nor does LVAM AG thereby incur any obligations or responsibilities vis-à-vis this user, in particular no information contract is concluded between LVAM AG and the user of these Internet pages.

These web pages are based on information from sources that we believe to be reliable. However, no responsibility is assumed for the accuracy, completeness, timeliness or quality and availability at any time of the data and other information provided. Third-party assessments reproduced here do not necessarily represent the opinion of LVAM AG. All price information is displayed with different time delays depending on the selected stock exchange and type of security and is for private use only.

This website may contain hyperlinks to third-party websites, thereby providing access to “third-party content” that has been produced or made available by operators independent of LVAM AG. We have no influence on these Internet sites and provide them merely as an aid to finding other Internet sites. The fact that LVAM AG provides the hyperlink does not constitute a recommendation, authorization, sponsorship or participation by LVAM AG with respect to these Internet pages, their owners or the persons responsible for them. We have not controlled the information, software or products of such websites. Accordingly, LVAM AG assumes no liability for the content of such third-party websites. The respective provider is solely responsible for the content of the linked pages. LVAM AG is not liable for any damages resulting from the use of the information provided.

No liability is accepted for any damage caused by computer viruses when calling up or downloading data or when installing or using software.

LVAM AG expressly reserves the right to change, supplement or delete opinions expressed on these Internet pages, individual websites or the entire operation of the Internet page, including the services, information, properties or functionalities offered, which are accessible within the scope of the intended use of the Internet page, without prior notice, or to discontinue publication temporarily or permanently. LVAM AG assumes no obligation to update or keep current any information contained herein.

Important note on data protection

Insofar as you provide us with personal data such as your name, home or e-mail address, telephone or fax number or other personal data, we will under no circumstances pass this data on to third parties for their use or storage, unless you have consented to this or we are legally obliged to do so. We use your personal data only to perform the services offered and for correspondence with you. To ensure confidentiality, your data is subject to high security and confidentiality standards. We do not share any of this data with other companies for advertising purposes.

Important note on industrial property rights

All brands and trademarks mentioned on the website and protected by LVAM AG or, if applicable, by third parties are subject without restriction to the applicable trademark law and the rights of the respective registered owners. The copyright for published objects created by LVAM AG itself remains solely with LVAM AG. Any duplication or use of objects such as diagrams, sounds or texts in other electronic or printed publications is not permitted without LVAM AG’s agreement. The same applies to third parties insofar as they hold copyrights to the content of the websites. The copying, downloading, distribution and storage of third-party content is not permitted without their express consent.

If sections or individual terms of this statement are not legal or correct, the content or validity of the other parts remain uninfluenced by this fact.

¹ As defined in Regulation S of the United States Securities Act of 1933. This definition specifically includes residents of the United States and U.S. corporations and partnerships.

I agree to the conditions

Disclaimer

As a visitor to our website, please note the following information. By accessing the lvam.de website, you agree to the content of the following information and confirm that you are a resident of the Federal Republic of Germany. This LVAM AG website is directed only at persons who are residents of the Federal Republic of Germany. Not eligible for access are all other Internet users, in particular persons residing in the USA¹ or those residing in the Netherlands, Great Britain and Northern Ireland, Canada or Japan. All Internet pages within the website at www.lvam.de are available exclusively in German. The following information is for the private information of the users of this website. This and the following Internet pages are governed exclusively by German law.

The responsible creator for these Internet pages is LeanVal Asset Management AG with its registered office at Bleichstraße 52, 60313 Frankfurt, Germany.

These Internet pages are for information purposes only and in particular do not constitute advertising, recommendations, financial or other advice. They are not an offer or invitation to buy or sell securities or financial instruments.

The sole basis for the acquisition of units in investment funds is the respective valid sales prospectus with the contractual terms and conditions in conjunction with the respective latest audited annual report and the semi-annual report, if such a report is more recent than the latest annual report. These documents can be obtained from the respective management company or custodian bank as well as the paying agents. LVAM AG does not assume any liability for the correctness and completeness of the information provided in these documents.

Investment objectives, experience, risk appetite and financial circumstances of the users of these Internet pages cannot be taken into account.

The securities and other financial instruments presented on these Internet pages may therefore not be suitable as investment instruments for every user. It is possible that the purchase of these instruments may be considered risky. In particular, changes in interest rates and exchange rates may adversely affect the value, price or income of the securities or financial instruments mentioned. Information on performance is always based on past performance. For the forecast of future value and price developments, historical price developments are only an inadequate basis and do not constitute a guarantee. Furthermore, the values and prices shown on these web pages may not represent the price or value available on the relevant market at the time a user wishes to buy or sell a particular security, other financial instrument or currency. Furthermore, the information on these web pages does not take into account values or prices that may differ due to the size of a specific transaction. LVAM AG assumes no responsibility for:

  • the suitability for investors of the securities or other financial instruments presented on the websites,
  • the accounting, economic and tax consequences of an investment in the securities or other financial instruments presented,
  • the future performance of the securities or financial instruments.

It is therefore strongly advised to seek independent advice from investment and tax advisors. By opening these Internet pages and accessing the information contained therein, the user does not become a customer of LVAM AG, nor does LVAM AG thereby incur any obligations or responsibilities vis-à-vis this user, in particular no information contract is concluded between LVAM AG and the user of these Internet pages.

These web pages are based on information from sources that we believe to be reliable. However, no responsibility is assumed for the accuracy, completeness, timeliness or quality and availability at any time of the data and other information provided. Third-party assessments reproduced here do not necessarily represent the opinion of LVAM AG. All price information is displayed with different time delays depending on the selected stock exchange and type of security and is for private use only.

This website may contain hyperlinks to third-party websites, thereby providing access to “third-party content” that has been produced or made available by operators independent of LVAM AG. We have no influence on these Internet sites and provide them merely as an aid to finding other Internet sites. The fact that LVAM AG provides the hyperlink does not constitute a recommendation, authorization, sponsorship or participation by LVAM AG with respect to these Internet pages, their owners or the persons responsible for them. We have not controlled the information, software or products of such websites. Accordingly, LVAM AG assumes no liability for the content of such third-party websites. The respective provider is solely responsible for the content of the linked pages. LVAM AG is not liable for any damages resulting from the use of the information provided.

No liability is accepted for any damage caused by computer viruses when calling up or downloading data or when installing or using software.

LVAM AG expressly reserves the right to change, supplement or delete opinions expressed on these Internet pages, individual websites or the entire operation of the Internet page, including the services, information, properties or functionalities offered, which are accessible within the scope of the intended use of the Internet page, without prior notice, or to discontinue publication temporarily or permanently. LVAM AG assumes no obligation to update or keep current any information contained herein.

Important note on data protection

Insofar as you provide us with personal data such as your name, home or e-mail address, telephone or fax number or other personal data, we will under no circumstances pass this data on to third parties for their use or storage, unless you have consented to this or we are legally obliged to do so. We use your personal data only to perform the services offered and for correspondence with you. To ensure confidentiality, your data is subject to high security and confidentiality standards. We do not share any of this data with other companies for advertising purposes.

Important note on industrial property rights

All brands and trademarks mentioned on the website and protected by LVAM AG or by third parties are subject without restriction to the applicable trademark law and the rights of the respective registered owners. The copyright for published objects created by LVAM AG itself remains solely with LVAM AG. Any duplication or use of objects such as diagrams, sounds or texts in other electronic or printed publications is not permitted without LVAM AG’s agreement. The same applies to third parties insofar as they hold copyrights to the content of the websites. The copying, downloading, distribution and storage of third-party content is not permitted without their express consent.

If sections or individual terms of this statement are not legal or correct, the content or validity of the other parts remain uninfluenced by this fact.

¹ As defined in Regulation S of the United States Securities Act of 1933. This definition specifically includes residents of the United States and U.S. corporations and partnerships.

I agree to the conditions

Disclaimer

As a visitor to our website, please note the following information. By accessing the lvam.de website, you agree to the content of the following information and confirm that you are a resident of the Federal Republic of Germany. This LVAM AG website is directed only at persons who are residents of the Federal Republic of Germany. Not eligible for access are all other Internet users, in particular persons residing in the USA¹ or those residing in the Netherlands, Great Britain and Northern Ireland, Canada or Japan. All Internet pages within the website at www.lvam.de are available exclusively in German. The following information is for the private information of the users of this website. This and the following Internet pages are governed exclusively by German law.

The responsible creator for these Internet pages is LVAM AG with its registered office at Bleichstraße 52, 60313 Frankfurt.

These Internet pages are for information purposes only and in particular do not constitute advertising, recommendations, financial or other advice. They are not an offer or invitation to buy or sell securities or financial instruments.

The sole basis for the acquisition of units in investment funds is the respective valid sales prospectus with the contractual terms and conditions in conjunction with the respective latest audited annual report and the semi-annual report, if such a report is more recent than the latest annual report. These documents can be obtained from the respective management company or custodian bank as well as the paying agents. LVAM AG does not assume any liability for the correctness and completeness of the information provided in these documents.

Investment objectives, experience, risk appetite and financial circumstances of the users of these Internet pages cannot be taken into account.

The securities and other financial instruments presented on these Internet pages may therefore not be suitable as investment instruments for every user. It is possible that the purchase of these instruments may be considered risky. In particular, changes in interest rates and exchange rates may adversely affect the value, price or income of the securities or financial instruments mentioned. Information on performance is always based on past performance. For the forecast of future value and price developments, historical price developments are only an inadequate basis and do not constitute a guarantee. Furthermore, the values and prices shown on these web pages may not represent the price or value available on the relevant market at the time a user wishes to buy or sell a particular security, other financial instrument or currency. Furthermore, the information on these web pages does not take into account values or prices that may differ due to the size of a specific transaction. LVAM AG assumes no responsibility for:

  • the suitability for investors of the securities or other financial instruments presented on the websites,
  • the accounting, economic and tax consequences of an investment in the securities or other financial instruments presented,
  • the future performance of the securities or financial instruments.

It is therefore strongly advised to seek independent advice from investment and tax advisors. By opening these Internet pages and accessing the information contained therein, the user does not become a customer of LVAM AG, nor does LVAM AG thereby incur any obligations or responsibilities vis-à-vis this user, in particular no information contract is concluded between LVAM AG and the user of these Internet pages.

These web pages are based on information from sources that we believe to be reliable. However, no responsibility is assumed for the accuracy, completeness, timeliness or quality and availability at any time of the data and other information provided. Third-party assessments reproduced here do not necessarily represent the opinion of LVAM AG. All price information is displayed with different time delays depending on the selected stock exchange and type of security and is for private use only.

This website may contain hyperlinks to third-party websites, thereby providing access to “third-party content” that has been produced or made available by operators independent of LVAM AG. We have no influence on these Internet sites and provide them merely as an aid to finding other Internet sites. The fact that LVAM AG provides the hyperlink does not constitute a recommendation, authorization, sponsorship or participation by LVAM AG with respect to these Internet pages, their owners or the persons responsible for them. We have not controlled the information, software or products of such websites. Accordingly, LVAM AG assumes no liability for the content of such third-party websites. The respective provider is solely responsible for the content of the linked pages. LVAM AG is not liable for any damages resulting from the use of the information provided.

No liability is accepted for any damage caused by computer viruses when calling up or downloading data or when installing or using software.

v AG expressly reserves the right to change, supplement or delete opinions expressed on these Internet pages, individual websites or the entire operation of the Internet page, including the services, information, properties or functionalities offered, which are accessible within the scope of the intended use of the Internet page, without prior notice, or to discontinue the publication temporarily or permanently. LVAM AG assumes no obligation to update or keep current any information contained herein.

Important note on data protection

Insofar as you provide us with personal data such as your name, home or e-mail address, telephone or fax number or other personal data, we will under no circumstances pass this data on to third parties for their use or storage, unless you have consented to this or we are legally obliged to do so. We use your personal data only to perform the services offered and for correspondence with you. To ensure confidentiality, your data is subject to high security and confidentiality standards. We do not share any of this data with other companies for advertising purposes.

Important note on industrial property rights

All brands and trademarks mentioned on the website and protected by LVAM AG or, if applicable, by third parties are subject without restriction to the applicable trademark law and the rights of the respective registered owners. The copyright for published objects created by LVAM AG itself remains solely with LVAM AG. Any duplication or use of objects such as diagrams, sounds or texts in other electronic or printed publications is not permitted without LVAM AG’s agreement. The same applies to third parties insofar as they hold copyrights to the content of the websites. The copying, downloading, distribution and storage of third-party content is not permitted without their express consent.

If sections or individual terms of this statement are not legal or correct, the content or validity of the other parts remain uninfluenced by this fact.

¹ As defined in Regulation S of the United States Securities Act of 1933. This definition specifically includes residents of the United States and U.S. corporations and partnerships.

I agree to the conditions
Private investors
Institutional investor
Financial services provider

Disclaimer

As a visitor to our website, please note the following information. By accessing the lvam.de website, you agree to the content of the following information and confirm that you are a resident of the Federal Republic of Germany. This LVAM AG website is directed only at persons who are residents of the Federal Republic of Germany. Not eligible for access are all other Internet users, in particular persons residing in the USA¹ or those residing in the Netherlands, Great Britain and Northern Ireland, Canada or Japan. All Internet pages within the website at www.lvam.de are available exclusively in German. The following information is for the private information of the users of this website. This and the following Internet pages are governed exclusively by German law.

The responsible creator for these Internet pages is Leanval Asset Manamgement (LVAM) AG with its registered office at Bleichstraße 52, 60313 Frankfurt, Germany.

These Internet pages are for information purposes only and in particular do not constitute advertising, recommendations, financial or other advice. They are not an offer or invitation to buy or sell securities or financial instruments.

The sole basis for the acquisition of units in investment funds is the respective valid sales prospectus with the contractual terms and conditions in conjunction with the respective latest audited annual report and the semi-annual report, if such a report is more recent than the latest annual report. These documents can be obtained from the respective management company or custodian bank as well as the paying agents. LVAM AG does not assume any liability for the correctness and completeness of the information provided in these documents.

Investment objectives, experience, risk appetite and financial circumstances of the users of these Internet pages cannot be taken into account.

The securities and other financial instruments presented on these Internet pages may therefore not be suitable as investment instruments for every user. It is possible that the purchase of these instruments may be considered risky. In particular, changes in interest rates and exchange rates may adversely affect the value, price or income of the securities or financial instruments mentioned. Information on performance is always based on past performance. For the forecast of future value and price developments, historical price developments are only an inadequate basis and do not constitute a guarantee. Furthermore, the values and prices shown on these web pages may not represent the price or value available on the relevant market at the time a user wishes to buy or sell a particular security, other financial instrument or currency. Furthermore, the information on these web pages does not take into account values or prices that may differ due to the size of a specific transaction. LVAM AG assumes no responsibility for:

  • the suitability for investors of the securities or other financial instruments presented on the websites,
  • the accounting, economic and tax consequences of an investment in the securities or other financial instruments presented,
  • the future performance of the securities or financial instruments.

It is therefore strongly advised to seek independent advice from investment and tax advisors. By opening these Internet pages and accessing the information contained therein, the user does not become a customer of LVAM AG, nor does LVAM AG thereby incur any obligations or responsibilities vis-à-vis this user, in particular no information contract is concluded between LVAM AG and the user of these Internet pages.

These web pages are based on information from sources that we believe to be reliable. However, no responsibility is assumed for the accuracy, completeness, timeliness or quality and availability at any time of the data and other information provided. Third-party assessments reproduced here do not necessarily represent the opinion of LVAM AG. All price information is displayed with different time delays depending on the selected stock exchange and type of security and is for private use only.

This website may contain hyperlinks to third-party websites, thereby providing access to “third-party content” that has been produced or made available by operators independent of LVAM AG. We have no influence on these Internet sites and provide them merely as an aid to finding other Internet sites. The fact that LVAM AG provides the hyperlink does not constitute a recommendation, authorization, sponsorship or participation by LVAM AG with respect to these Internet pages, their owners or the persons responsible for them. We have not controlled the information, software or products of such websites. Accordingly, LVAM AG assumes no liability for the content of such third-party websites. The respective provider is solely responsible for the content of the linked pages. LVAM AG is not liable for any damages resulting from the use of the information provided.

No liability is accepted for any damage caused by computer viruses when calling up or downloading data or when installing or using software.

LVAM AG expressly reserves the right to change, supplement or delete opinions expressed on these Internet pages, individual websites or the entire operation of the Internet page, including the services, information, properties or functionalities offered, which are accessible within the scope of the intended use of the Internet page, without prior notice, or to discontinue publication temporarily or permanently. LVAM AG assumes no obligation to update or keep current any information contained herein.

Important note on data protection

Insofar as you provide us with personal data such as your name, home or e-mail address, telephone or fax number or other personal data, we will under no circumstances pass this data on to third parties for their use or storage, unless you have consented to this or we are legally obliged to do so. We use your personal data only to perform the services offered and for correspondence with you. To ensure confidentiality, your data is subject to high security and confidentiality standards. We do not share any of this data with other companies for advertising purposes.

Important note on industrial property rights

All brands and trademarks mentioned on the website and protected by LVAM AG or by third parties are subject without restriction to the applicable trademark law and the rights of the respective registered owners. The copyright for any material created by LVAM AG is reserved. Any duplication or use of objects such as diagrams, sounds or texts in other electronic or printed publications is not permitted without LVAM AG’s agreement. The same applies to third parties insofar as they hold copyrights to the content of the websites. The copying, downloading, distribution and storage of third-party content is not permitted without their express consent.

If sections or individual terms of this statement are not legal or correct, the content or validity of the other parts remain uninfluenced by this fact.

¹ As defined in Regulation S of the United States Securities Act of 1933. This definition specifically includes residents of the United States and U.S. corporations and partnerships.

I agree to the conditions

Disclaimer

As a visitor to our website, please note the following information. By accessing the lvam.de website, you agree to the content of the following information and confirm that you are a resident of the Federal Republic of Germany. This website of LeanVal Asset Management AG is directed only at persons who are residents of the Federal Republic of Germany. Not eligible for access are all other Internet users, in particular persons residing in the USA¹ or those residing in the Netherlands, Great Britain and Northern Ireland, Canada or Japan. All Internet pages within the website at www.lvam.de are available exclusively in German. The following information is for the private information of the users of this website. This and the following Internet pages are governed exclusively by German law.

The responsible creator for these Internet pages is LeanVal Asset Management (LVAM) AG with its registered office at Bleichstraße 52, 60313 Frankfurt, Germany.

These Internet pages are for information purposes only and in particular do not constitute advertising, recommendations, financial or other advice. They are not an offer or invitation to buy or sell securities or financial instruments.

The sole basis for the acquisition of units in investment funds is the respective valid sales prospectus with the contractual terms and conditions in conjunction with the respective latest audited annual report and the semi-annual report, if such a report is more recent than the latest annual report. These documents can be obtained from the respective management company or custodian bank as well as the paying agents. LVAM AG does not assume any liability for the correctness and completeness of the information provided in these documents.

Investment objectives, experience, risk appetite and financial circumstances of the users of these Internet pages cannot be taken into account.

The securities and other financial instruments presented on these Internet pages may therefore not be suitable as investment instruments for every user. It is possible that the purchase of these instruments may be considered risky. In particular, changes in interest rates and exchange rates may adversely affect the value, price or income of the securities or financial instruments mentioned. Information on performance is always based on past performance. For the forecast of future value and price developments, historical price developments are only an inadequate basis and do not constitute a guarantee. Furthermore, the values and prices shown on these web pages may not represent the price or value available on the relevant market at the time a user wishes to buy or sell a particular security, other financial instrument or currency. Furthermore, the information on these web pages does not take into account values or prices that may differ due to the size of a specific transaction. LVAM AG assumes no responsibility for:

  • the suitability for investors of the securities or other financial instruments presented on the websites,
  • the accounting, economic and tax consequences of an investment in the securities or other financial instruments presented,
  • the future performance of the securities or financial instruments.

It is therefore strongly advised to seek independent advice from investment and tax advisors. By opening these Internet pages and accessing the information contained therein, the user does not become a customer of LVAM AG, nor does LVAM AG thereby incur any obligations or responsibilities vis-à-vis this user, in particular no information contract is concluded between LVAM AG and the user of these Internet pages.

These web pages are based on information from sources that we believe to be reliable. However, no responsibility is assumed for the accuracy, completeness, timeliness or quality and availability at any time of the data and other information provided. Third-party assessments reproduced here do not necessarily represent the opinion of LVAM AG. All price information is displayed with different time delays depending on the selected stock exchange and type of security and is for private use only.

This website may contain hyperlinks to third-party websites, thereby providing access to “third-party content” that has been produced or made available by operators independent of LVAM AG. We have no influence on these Internet sites and provide them merely as an aid to finding other Internet sites. The fact that LVAM AG provides the hyperlink does not constitute a recommendation, authorization, sponsorship or participation by LVAM AG with respect to these Internet pages, their owners or the persons responsible for them. We have not controlled the information, software or products of such websites. Accordingly, LVAM AG assumes no liability for the content of such third-party websites. The respective provider is solely responsible for the content of the linked pages. LVAM AG is not liable for any damages resulting from the use of the information provided.

No liability is accepted for any damage caused by computer viruses when calling up or downloading data or when installing or using software.

LVAM AG expressly reserves the right to change, supplement or delete opinions expressed on these Internet pages, individual websites or the entire operation of the Internet page, including the services, information, properties or functionalities offered, which are accessible within the scope of the intended use of the Internet page, without prior notice, or to discontinue publication temporarily or permanently. LVAM AG assumes no obligation to update or keep current any information contained herein.

Important note on data protection

Insofar as you provide us with personal data such as your name, home or e-mail address, telephone or fax number or other personal data, we will under no circumstances pass this data on to third parties for their use or storage, unless you have consented to this or we are legally obliged to do so. We use your personal data only to perform the services offered and for correspondence with you. To ensure confidentiality, your data is subject to high security and confidentiality standards. We do not share any of this data with other companies for advertising purposes.

Important note on industrial property rights

All brands and trademarks mentioned on the website and protected by LVAM AG or, if applicable, by third parties are subject without restriction to the applicable trademark law and the rights of the respective registered owners. The copyright for published objects created by LVAM AG itself remains solely with LVAM AG. Any duplication or use of objects such as diagrams, sounds or texts in other electronic or printed publications is not permitted without LVAM AG’s agreement. The same applies to third parties insofar as they hold copyrights to the content of the websites. The copying, downloading, distribution and storage of third-party content is not permitted without their express consent.

If sections or individual terms of this statement are not legal or correct, the content or validity of the other parts remain uninfluenced by this fact.

¹ As defined in Regulation S of the United States Securities Act of 1933. This definition specifically includes residents of the United States and U.S. corporations and partnerships.

I agree to the conditions

Disclaimer

As a visitor to our website, please note the following information. By accessing the lvam.de website, you agree to the content of the following information and confirm that you are a resident of the Federal Republic of Germany. This website of LeanVal Asset Management (LVAM) AG is directed only at persons who are residents of the Federal Republic of Germany. Not eligible for access are all other Internet users, in particular persons residing in the USA¹ or those residing in the Netherlands, Great Britain and Northern Ireland, Canada or Japan. All Internet pages within the website at www.lvam.de are available exclusively in German. The following information is for the private information of the users of this website. This and the following Internet pages are governed exclusively by German law.

The responsible creator for these Internet pages is LeanVal Asset Management AG with its registered office at Bleichstraße 52, 60313 Frankfurt, Germany.

These Internet pages are for information purposes only and in particular do not constitute advertising, recommendations, financial or other advice. They are not an offer or invitation to buy or sell securities or financial instruments.

The sole basis for the acquisition of units in investment funds is the respective valid sales prospectus with the contractual terms and conditions in conjunction with the respective latest audited annual report and the semi-annual report, if such a report is more recent than the latest annual report. These documents can be obtained from the respective management company or custodian bank as well as the paying agents. LVAM AG does not assume any liability for the correctness and completeness of the information provided in these documents.

Investment objectives, experience, risk appetite and financial circumstances of the users of these Internet pages cannot be taken into account.

The securities and other financial instruments presented on these Internet pages may therefore not be suitable as investment instruments for every user. It is possible that the purchase of these instruments may be considered risky. In particular, changes in interest rates and exchange rates may adversely affect the value, price or income of the securities or financial instruments mentioned. Information on performance is always based on past performance. For the forecast of future value and price developments, historical price developments are only an inadequate basis and do not constitute a guarantee. Furthermore, the values and prices shown on these web pages may not represent the price or value available on the relevant market at the time a user wishes to buy or sell a particular security, other financial instrument or currency. Furthermore, the information on these web pages does not take into account values or prices that may differ due to the size of a specific transaction. LVAM AG assumes no responsibility for:

  • the suitability for investors of the securities or other financial instruments presented on the websites,
  • the accounting, economic and tax consequences of an investment in the securities or other financial instruments presented,
  • the future performance of the securities or financial instruments.

It is therefore strongly advised to seek independent advice from investment and tax advisors. By opening these Internet pages and accessing the information contained therein, the user does not become a customer of LVAM AG, nor does LVAM AG thereby incur any obligations or responsibilities vis-à-vis this user, in particular no information contract is concluded between LVAM AG and the user of these Internet pages.

These web pages are based on information from sources that we believe to be reliable. However, no responsibility is assumed for the accuracy, completeness, timeliness or quality and availability at any time of the data and other information provided. Third-party assessments reproduced here do not necessarily represent the opinion of LVAM AG. All price information is displayed with different time delays depending on the selected stock exchange and type of security and is for private use only.

This website may contain hyperlinks to third-party websites, thereby providing access to “third-party content” that has been produced or made available by operators independent of LVAM AG. We have no influence on these Internet sites and provide them merely as an aid to finding other Internet sites. The fact that LVAM AG provides the hyperlink does not constitute a recommendation, authorization, sponsorship or participation by LVAM AG with respect to these Internet pages, their owners or the persons responsible for them. We have not controlled the information, software or products of such websites. Accordingly, LVAM AG assumes no liability for the content of such third-party websites. The respective provider is solely responsible for the content of the linked pages. LVAM AG is not liable for any damages resulting from the use of the information provided.

No liability is accepted for any damage caused by computer viruses when calling up or downloading data or when installing or using software.

LVAM AG expressly reserves the right to change, supplement or delete opinions expressed on these Internet pages, individual websites or the entire operation of the Internet page, including the services, information, properties or functionalities offered, which are accessible within the scope of the intended use of the Internet page, without prior notice, or to discontinue publication temporarily or permanently. LVAM AG assumes no obligation to update or keep current any information contained herein.

Important note on data protection

Insofar as you provide us with personal data such as your name, home or e-mail address, telephone or fax number or other personal data, we will under no circumstances pass this data on to third parties for their use or storage, unless you have consented to this or we are legally obliged to do so. We use your personal data only to perform the services offered and for correspondence with you. To ensure confidentiality, your data is subject to high security and confidentiality standards. We do not share any of this data with other companies for advertising purposes.

Important note on industrial property rights

All brands and trademarks mentioned on the website and protected by LVAM AG or, if applicable, by third parties are subject without restriction to the applicable trademark law and the rights of the respective registered owners. The copyright for published objects created by LVAM AG itself remains solely with LVAM AG. Any duplication or use of objects such as diagrams, sounds or texts in other electronic or printed publications is not permitted without LVAM AG’s agreement. The same applies to third parties insofar as they hold copyrights to the content of the websites. The copying, downloading, distribution and storage of third-party content is not permitted without their express consent.

If sections or individual terms of this statement are not legal or correct, the content or validity of the other parts remain uninfluenced by this fact.

¹ As defined in Regulation S of the United States Securities Act of 1933. This definition specifically includes residents of the United States and U.S. corporations and partnerships.

I agree to the conditions