Hedge Funds

Fund profile: Bonds through the prism of equities


The German investors tend to be as conservative as they come – and as a result they shun volatile equities in favour of the stability of bonds.

Bonds are the largest asset class in German institutional portfolios, but their share has shrunk from 74% in 2011 to 46% at present, according to Union Investment's latest annual risk survey of 106 investors. This is because even bonds are no longer seen as being a risk-free asset class – because of interest rates being so low and the increased possibilities of sovereign default.

Dr Uwe Rathausky (pictured) founded Gané Aktiengesellschaft with Henrik