Our Investment Approach

In line with our philosophy "It is not the wind, but the sail that determines the direction," we practice active portfolio management that aligns the portfolios consistently with the cyclical capital market environment. We make use of our degrees of freedom, which means that depending on the market phase, significant shifts in the weights of individual asset classes or market segments can be expected over time.

MainSky’s core competence lies in using a macro or top-down analysis to forecast the structural and cyclical economic environment and align the portfolio structure accordingly. The analysis and opinion formation are supported by proprietary quantitative models. However, we are not blindly reliant on models; every piece of information is always interpreted economically to form a market view that is economically sound.

For MainSky, risk management is an integral part of the investment process. Since the correlations between asset classes depend on the respective market phase and are constantly changing, MainSky actively manages risk exposure in accordance with the capital market environment. A static portfolio construction that relies solely on diversification to minimize losses is no longer effective in today's capital market environment.

In addition to calculating 'classic' risk metrics, MainSky applies a multidimensional approach to risk management to analyze the portfolio from different perspectives. Another element of MainSky's risk management is portfolio stress testing. This allows for the simulation of extreme scenarios that cannot be captured using traditional VaR methods. Furthermore, MainSky conducts principal component analyses (PCA) on the portfolios. These help identify systemic return and risk drivers and indicate the degree to which a portfolio structure is balanced.

Building on the extensive experience of the MainSky team, we have developed our own primary research that forms the foundation of our investment decisions. Since our research is completely independent — meaning it is not subject to any corporate directives — we are able to identify attractive markets without bias in any market environment and act solely in the best interests of our investors. The advantage of this approach is reflected in our performance.

Our MainSky Blog is the central platform where we publish our research articles. Clearly structured by topic areas, it presents our views and solution approaches. This ensures a high level of transparency — a core value for us. Interested readers can gain insights, while investors can transparently track the strategic orientation of MainSky mandates.