At atonra, understanding and managing risk is as important as pursuing growth. Our structured, research-driven approach and rigorous risk management practices are designed to protect investors while capturing the transformative potential of high-growth, thematic opportunities.
Below is an overview of the primary risks associated with investing in our products and the measures we employ to mitigate them.
Volatility: Thematic investments can be subject to significant market fluctuations driven by economic cycles and investor sentiment.
Cyclical Exposure: As themes evolve, exposure to particular sectors (e.g., technology, healthcare, and renewable energy) may experience cyclical downturns.
Mitigation Measures:
Diversification across multiple sub-themes and regions.
Systematic portfolio rebalancing to maintain target allocations.
Ongoing monitoring of market trends and dynamic risk adjustments.
Thematic Focus: Our concentrated, high-conviction portfolios mean a few key themes can influence performance.
Emerging Trends: Early-stage themes may be more volatile as they evolve and mature.
Mitigation Measures:
Rigorous selection and continuous evaluation of themes through proprietary research.
Balanced exposure with a mix of established and emerging trends.
Regular re-assessment to phase out mature themes and incorporate new opportunities.
Investment Horizon: Our private equity-like approach typically involves longer holding periods, which might limit liquidity.
Market Conditions: In stressed market environments, some thematic assets may experience reduced liquidity.
Mitigation Measures:
Strategic allocation across liquid and semi-liquid assets.
Transparent communication regarding expected holding periods and redemption terms.
Active risk management and liquidity monitoring processes
Process Integrity: As our investment process relies on advanced IT systems and proprietary models, there is inherent operational risk.
Cyber Threats: The increasing reliance on digital infrastructure raises cybersecurity concerns.
Mitigation Measures:
Comprehensive operational risk management frameworks with internal controls and outsourced expertise.
Regular audits, system backups, and adherence to GDPR and other data protection standards.
Continuous investment in IT infrastructure, including state-of-the-art cybersecurity measures.
Ethical Considerations: Despite our commitment to responsible investing, portfolio companies may face ESG controversies or fail to meet sustainability targets.
Impact on Performance: ESG issues can lead to reputational damage, regulatory scrutiny, or market penalties.
Mitigation Measures:
Integration of robust ESG research throughout the investment process.
Regularly monitor ESG ratings, trends, and controversies for portfolio companies.
Alignment with exclusion policies and responsible investment guidelines to ensure positive societal impact.
Changing Regulatory Landscape: Our investment strategies operate within multiple jurisdictions, exposing us to evolving regulatory requirements.
Compliance Obligations: Adhering to local and international financial regulations is critical for risk management.
Mitigation Measures:
Close collaboration with external compliance providers and adherence to FINMA guidelines.
Routine internal audits and updates to compliance policies.
Transparent communication with investors regarding regulatory developments.
Furthermore, we have a strict risk-management policy regarding stocks in our portfolios.
We implement a strict sell discipline with predefined criteria based on fundamental and technical performance. If a stock fails to meet our expectations or its underlying fundamentals deteriorate, we trigger an exit process.
Please don't hesitate to contact our Investor Relations team for more details on our risk management framework.
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