Heinz-Joseph Stenten

GIP Germany leverages both internal and external expertise, the latter through boutiques that Generali Investments has acquired, invested in or created, and in which the company holds a majority share. They offer a large variety of active fixed income strategies and Eurozone equity strategies. The firm has a multi-asset team that combines quantitative and qualitative approaches to design and manage most efficient asset allocations to generate risk-adjusted returns over the mid to long term.

Generali Investments Germany is an active manager which follows a risk-aware, fundamentals-based approach aiming to generate consistent long-term returns and protect invested capital. The firm combines top-down and bottom-up approaches provided by in-house research teams, first analyzing macroeconomic indicators and the general political environment to evaluate their potential impact on the main financial markets. Dedicated committees decide on the strategic asset allocation and provide short-term forecasts on equity and fixed-income markets which drive tactical allocation by portfolio managers. Securities are selected based on inputs from proprietary bottom-up securities analysis, ESG screening and quantitative models. Generali Investments Germany''s bottom-up research team provides equity recommendations and internal credit ratings to portfolio managers, who combine expectations on revenues and profitability evolution with debt distribution and cash flows to analyze companies organically manner and identify the financial instrument with the most attractive risk/return profile. They fully integrate risk management in the investment process and provide daily inputs to portfolio managers along with ex-ante analysis (VaR, simulations, expected yield) and ex-post risk profile measurements (tracking error and tracking error volatility, turnovers, risk and return ratios). A risk platform runs various analyses including stress testing, VaR measurement, risk sources analysis, delta adjusted market exposures and sensitivities.

GID is a passive equity investor and manages the AMB Generali Aktien Deutschland fund, which benchmarks the TMI Europe ex UK index. This index focuses on European ex UK large-cap companies.