Our investment approach is based on the belief that due to our systematic and economically sound investment process, with identical quality and valuation criteria in every region, we can find attractively valued quality companies at all times in all markets and that they offer a compelling investment opportunity. Our investment process is conducted purely bottom-up and uses a best-overall approach which is independent of market capitalization (with some liquidity restrictions) and sector. We follow a best-overall approach, because with the best-in-class approach, the quality of the sector itself is not examined, and too little attention is paid to the fact that sectors are subject to structural shifts. The vas majority of Quality companies can afford meeting ESG goals thanks to their fundamental strength, which allows them to act ethically and responsibly. Our Research team analyzes all portfolio candidates according to a defined standard SRI checklist. In addition, for designated ESG portfolios (e.g. church client) we apply client-specific criteria and negative lists.