“We do not expect our portfolio companies to anticipate the next economic downturn, however, we expect them to endure it and to stay financially independent during tougher times.”
ANREPA Report 2nd Quarter 2015
All our employees are well and healthy and are predominantly working from home. We hope that you are well and healthy too, in these rather unusual times.
The low stock market prices reflect the current uncertainty surrounding the development of the COVID-19 crisis. Our portfolio could not escape the setback of equity markets across the world. It is still too early to evaluate the full economic impact and how long the recovery will take. In these times, we remain in close contact with our portfolio companies. They feel the economic downturn but their solvency is not threatened.
We neither saw the COVID-19 crisis coming, nor did we foresee its magnitude. However, our portfolio is prepared for difficult times.
An essential component of our strategy is the rigorous analysis of the companies’ liquidity. The companies in our portfolio have therefore significantly less debt compared to other listed companies. Moreover, we always have a preference for companies that supply products deemed essential. These companies still experience demand in difficult times. We therefore believe that our portfolio companies will weather this crisis well.
Please find more information about the importance of products being deemed essential as well as the topic of indebtedness in the subsequent links. In the meantime, we stay focused on our risk management motto “fortune favors the prepared”.
The ANREPA strategy ...
|Net return in CHF||1. QuarterQ1||2. QuarterQ2||3. QuarterQ3||4. QuarterQ4||Year|
|Since inception p.a.||0.6% *|