Dear investors,

the financial markets never stand still, and neither do we. We continuously review our portfolios to ensure you receive the best possible balance of return potential, risk and costs. For the year 2026, we have specifically enhanced our popular Global and Green strategies.

First, the good news: our fundamental investment philosophy remains exactly the same. However, we have fine-tuned the weighting and – what you will be particularly pleased about – massively reduced ongoing costs.

Here is a summary of what the 2026 update means for your portfolio.

1. The new allocation: Precise balance and full focus on return drivers

Our strategies have always been based on a clear principle:

We combine pure market capitalisation with the actual economic strength of individual regions. As part of the 2026 update, we have adjusted our weightings to reflect current global developments. The aim was to incorporate the actual changes of recent years into the new strategies and to align the allocation in a balanced way between both perspectives.

Furthermore, we remain true to our scientifically founded investment philosophy: we continue to consistently pursue the factor investing approach according to the proven three-factor model. This means that we deliberately overweight the "Value" (high-value companies) and "Size" (smaller companies) factors within the strategies.

Focus on the essentials: 100% equities in the highest risk category

A central component of the update is the targeted sharpening of our portfolios. In future, the Global and Green strategies will focus on the two core asset classes of equities and bonds.

The inclusion of alternative asset classes such as commodities or real estate is deliberately avoided. Instead, we pursue the "Core" portfolio approach, which is clearly based on the primary sources of return in the capital markets.

For investors who would also like to integrate additional building blocks, our Ginmon Themes offer the opportunity to individually and independently add alternative asset classes as "satellites".

The result is a clearly defined allocation structure across all ten risk classes:

The allocation follows a clear system: as the risk class increases, the ratio shifts step by step in favour of equities.

The values shown are to be understood as target allocations and move within defined ranges. What is decisive is the consistent structure across all risk classes, from a heavily bond-centric portfolio to a fully equity-based allocation.

2. Noticeably lower ETF costs:

Even though our main focus is on optimal, scientifically based allocation, we also try to optimise costs wherever this is possible with comparable quality.

The numbers speak for themselves:

Global Strategy: 

Here we achieve an average reduction of 30%. Costs decrease to a range of 0.09% to 0.15%.

Green Strategy: 

We were able to reduce ongoing costs (TER) by an average of 29%. The new TER range is now just 0.14% to 0.16%.

3. Factor investing now also for Green

With the 2026 update, the proven factor approach is now also systematically implemented in our Green strategies. Alongside broad market coverage, this systematically focuses on the Value and Size factors.

The following figures show exactly how the factor structure has changed compared to the previous strategy.

As a result, the Green strategy is no longer just sustainably oriented, but now also systematically incorporates the central return drivers of the stock market.

4. A more efficient structure using the Green Strategy as an example

Using the Green strategy as an example, the impact of the adjustments made can be clearly understood.

Historical analysis suggests that the new allocation had a more efficient structure over the observed period, featuring a higher return combined with a slightly reduced risk.

This development is particularly due to the adjusted allocation and the stronger consideration of systematic return drivers. At the same time, the overall risk profile remains comparable, meaning the strategy continues to be consistently anchored in its respective risk class.

The results shown are based on historical data and are not a reliable indicator of future developments.

5. Available now – Should you switch?

We are migrating our customer base gradually to ensure an optimal balance between new strategy benefits and tax implications. However, should you wish to speed up the transition, the "Change investment strategy" function is always available, allowing you to bring forward the switch yourself.

A switch always involves a reallocation of your portfolio. Depending on the strategy, this means:

• Global: Partial reallocation of the existing allocation

• Green: Almost complete reallocation of the existing allocation

  
  

In doing so, any accumulated, untaxed capital gains may be realised, which can lead to a one-off tax liability.

The key question is therefore: Is it worth switching despite potential tax deductions?

When a switch makes sense:

A switch is particularly sensible in the following scenarios:

• You have only recently invested
  → The accrued gains and thus the tax liability are still low.

• Your currently invested capital is relatively small
  → Future deposits will dominate the overall performance.

• You plan to have a long-term investment horizon
  → Lower ongoing costs and an optimised allocation will have an impact over many years.

• Your future savings rate is high in relation to your current portfolio value
  → The effect of the new strategy significantly outweighs the one-off tax liability.

  
  

In practice, the decision can be simply summarised as follows:

A switch is sensible in many cases, especially with a long-term investment horizon, regular savings rates or a relatively small invested amount.

On the other hand, the larger the already accrued, untaxed capital gains are and the shorter the remaining investment period is, the more the benefit of tax deferral should be considered.

In case of doubt, the structural advantages of the new strategy outweigh the tax drawbacks for long-term oriented investors.

For new customers

For new customers, investment is made automatically in the new strategy.

How to transition your portfolio to the new strategy:

1. Select portfolio: Select the corresponding portfolio in your overview for which you would like to activate the update.

2. Open menu: Click on the "More" tab in the portfolio view.

3. Adjust strategy: Select "Change investment strategy" and decide on your desired target strategy.

4. Receive confirmation: Immediately after completion, we will send you a confirmation of the successful changeover by email.

   
   

Conclusion: Proven strategy, optimised implementation

With the 2026 update, we are specifically developing our strategies further and sharpening both the structure and the cost base. In the future, the portfolios will be more clearly structured, more strongly aligned with the core return drivers of the capital market, and at the same time more efficient in implementation.

For you, this means a combination of a transparent allocation, targeted consideration of factors such as Value and Size, as well as permanently lower ongoing costs. This creates a more robust foundation for long-term wealth accumulation.

Whether a change makes sense depends on your individual situation, in particular on your current investment level, your planned savings rate and your investment horizon. Especially with a long investment period or larger future contributions, the advantages of the new structure can outweigh the one-off tax liability.

If you are unsure whether a change makes sense for you, we are at your disposal. Together we will review your current situation and support you in making the right decision for you.