The five priorities of our investment philosophy
The group’s fund manager, Cadelam, manages your portfolio according to five key principles: in the long term, with conviction, according to our sustainable investment principles, taking into account your risk appetite and with comprehensible investment solutions.
In the long-term
When managing your wealth sustainably, we look to the somewhat more distant future, beyond turbulent intervals of uncertainty and speculation. Perfect timing of entry and exit is not possible, but an investor who looks beyond today's stock market movements need not worry. Equities remain the long-term source of return for your portfolio. That is why we advise our wealth management clients to remain always invested (buy-and-hold strategy). You determine the weight together with your relationship manager according to your risk level (cf. point 4: Caution). A long-term vision is also the best defence against emotional decisions, first impulses and hypes - a matter of common sense, so to speak.
Cadelam's general market vision and conviction in individual companies determine the investment strategy for shares and bonds. In this top-down approach, the fund managers start with the broad macroeconomic story. From there, they distil the major themes that will shape the world in the medium term: digitalisation, urbanisation and ageing, for instance. They then identify the sectors that will play a leading role in this: the Cloud, e-commerce, infrastructure, pharmaceuticals. Finally, they select the best-in-class companies: financially sound players with a smart and sustainable approach. Wealth management with conviction!
If you aspire to sustainable, attractive profit growth, you will automatically end up with responsible asset management. Besides financial parameters, this investment philosophy also takes into account what are known as the ESG criteria: ecology, social responsibility and good governance. We apply this philosophy in three steps: via exclusion, active shareholding and integration of non-financial parameters. Uniquely, we apply this philosophy to all clients, for the entire portfolio. Read more about our responsible asset management.
Cadelam's fund managers actively seek out opportunities in certain themes, regions and sectors. At the same time, they remain alert to risks. Because every form of investment involves risk. A good strategy to manage that risk is thorough diversification. First of all, the managers include a wide range of individual shares and bonds in your portfolio. Secondly, they ensure a good spread of themes, regions and sectors. For the bond portfolio, there is also a good spread of maturities, so the interest rate risk is also distributed. And last but far from least, the investments must be in line with our sustainability philosophy, to exclude ESG risks (see Item 3: Responsible). In addition, it is of utmost importance that you correctly assess and regularly re-evaluate your investment profile. Read more about it on the page about discretionary asset management.
The best way to invest is in products that you understand well, where you can assess the risk and the potential return that they offer correctly. That is why Cadelam invests mainly in individual shares and bonds rather than in opaque third-party funds, complex structures or hypes. Jacques Delen, Chairman of the Board of Directors, expresses this good-faith philosophy thus: "A quality solution has to be clear, transparent and understandable to everyone." The banking crisis of 2008 proved him right.
René Havaux – CEOYour portfolio is robust and resilient - so that it can withstand the high waves of the stock market. That is where our added value lies.
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Responsible wealth management
The mission of Delen Private Bank Luxemburg is fundamentally sustainable in nature: to protect our clients' assets across generations
Discretionary asset management
Discretionary asset management means that you entrust the management of your portfolio to a team of experts who keep close track of the markets – day in, day out