All Aktuelles Markt-Kommentare Events/Webinare Engagement Videos
202612 - eng - Webinar Q4/2026
8/12/2026 | Events/Webinare
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Webinar: Ethna Funds, Q4 | December 2, 2026

We cordially invite you to our ETHENEA Quarterly Update Webinar!
During the webinar, which is intended exclusively for professional investors, our portfolio managers will present – via live video link – both their views on the current state of the economy and the capital markets, as well as the current positioning of our funds.

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202609 - eng - Webinar Q3/2026
8/12/2026 | Events/Webinare
N.A.
Webinar: Ethna Funds, Q3 | September 23, 2026

We cordially invite you to our ETHENEA Quarterly Update Webinar!
During the webinar, which is intended exclusively for professional investors, our portfolio managers will present—via live video link—both their views on the current state of the economy and the capital markets and the current positioning of our funds.

Read now
The state as a shareholder: America's new economic order
8/6/2026 | Markt-Kommentare
4
The state as a shareholder: America's new economic order

Washington is shifting its role in the economy from rule-maker to player: fewer regulations, but more direct investments, record-high tariffs, and market access granted on a case-by-case basis. Government intervention has always existed—but not in this form. Read our Spotlight article to learn what’s different today and why this matters for the valuation of U.S. investments.

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The fertile bubble: AI infrastructure, the capital cycle, and the question of who reaps the rewards in the end
7/6/2026 | Markt-Kommentare
10
The fertile bubble: AI infrastructure, the capital cycle, and the question of who reaps the rewards in the end

Instead of simply claiming that we live in a bubble, we propose a diagnostic tool: observable indicators that distinguish a healthy expansion from a severe bubble. Three indicators assess supply, and one assesses demand; only the last one can trigger a downturn.

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How America introduces its children to the stock market
6/18/2026 | Aktuelles
3
How America introduces its children to the stock market

From a defensive position, Donald Trump is courting the support of the nation's youngest voters. A prestige project that extends far beyond the election campaign.

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The same data, two opinions. What will Warsh do?
6/12/2026 | Aktuelles
3
The same data, two opinions. What will Warsh do?

On June 17, Kevin Warsh will address the press for the first time as Fed Chair, inheriting a market that is debating interest rate hikes. The debate centers not on the economy, but on the assumptions behind the numbers. 

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Chips Act 2.0: Europe's second attempt to close the chip gap
6/10/2026 | Aktuelles
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Chips Act 2.0: Europe's second attempt to close the chip gap

Last week, the European Commission presented its draft legislation for the Chips Act 2.0. The goal is to establish Europe’s long-term semiconductor strategy independently. However, before the draft becomes law, there are processes, regulations, and red tape to navigate. For investors, this means that Europe’s chip champions remain attractive, but the political timeline is dampening the enthusiasm.

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The Magnificent Seven become the "Magnificent Ten": SpaceX and the new power of index mechanics
5/27/2026 | Aktuelles
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The Magnificent Seven become the "Magnificent Ten": SpaceX and the new power of index mechanics

SpaceX’s planned initial public offering is more than just a mega-IPO. It could become a stress test for passive investors, and with OpenAI and Anthropic, the next mega-IPO candidates are already in the starting blocks. Our Head of Portfolio Management, Jörg Held, explains why index providers are already rolling out the red carpet and what this means for ETFs and active investors.

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Powell and Warsh: Two central bankers, two models
5/21/2026 | Aktuelles
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Powell and Warsh: Two central bankers, two models

The Fed is facing its most significant leadership change in decades. With Warsh comes not just a new person, but a different understanding of what a central bank should do.

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The dollar is losing its smile
5/6/2026 | Aktuelles
3
The dollar is losing its smile

The dollar is losing ground. Here are five reasons why this weakness will continue.

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Diversification: what divides or unites markets
5/6/2026 | Markt-Kommentare
8
Diversification: what divides or unites markets

Modern portfolio theory refers to diversification as the only cost-free advantage in the stock market. 

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Hormus, Brent, interest rate panic – and in the end, nothing changes
4/27/2026 | Aktuelles
3
Hormus, Brent, interest rate panic – and in the end, nothing changes

The markets were wrong – and they know it. What was priced in six weeks ago as a cycle of ECB rate hikes has now been almost completely priced out.

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Powell's final meeting – and the transition to warsh
4/27/2026 | Aktuelles
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Powell's final meeting – and the transition to warsh

The path to the Fed chairmanship has been cleared for Kevin Warsh. With that, the political battle is over—the real challenges begin now.

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The return of the long term: Why the end of interest rate anxiety presents an opportunity
4/15/2026 | Aktuelles
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The return of the long term: Why the end of interest rate anxiety presents an opportunity

Anyone who focuses solely on short-term volatility and the central banks’ recent rhetoric is looking nervously at the long end of the yield curve. But perhaps they are overlooking the most attractive buying opportunity in years. A case for duration and quality.

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Oil as a portfolio instrument
3/31/2026 | Markt-Kommentare
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Oil as a portfolio instrument

A 34-kilometer stretch of waterway is currently causing turmoil in the markets. However, a politically driven, regional supply shock is far from being a structural rupture. Yet the effects are being felt. While the U.S. administration is feverishly searching for diplomatic and strategic ways out of the conflict, Europe is already feeling the immediate consequences in its wallet: rising energy prices. What might happen next? We’ve analyzed the situation and summarized it here.

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The end of the invisible hand: Donald Trump’s regulatory fall from grace
3/26/2026 | Aktuelles
3
The end of the invisible hand: Donald Trump’s regulatory fall from grace

In the United States, a transformation is taking place under Donald Trump that is upending the Republicans' economic framework.

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The ECB in a wait-and-see mode amid an energy shock and the risk of recession
3/16/2026 | Aktuelles
3
The ECB in a wait-and-see mode amid an energy shock and the risk of recession

A bottleneck in the Middle East is currently determining the fate of the European economy. Ever since the Strait of Hormuz has been on everyone’s lips, energy prices have been skyrocketing: Brent crude is trading at around $90 per barrel, and European natural gas prices have risen by 60 percent.

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A weak job market meets persistent inflation
3/16/2026 | Aktuelles
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A weak job market meets persistent inflation

Incumbent Chair Jerome Powell is expected to reiterate at the upcoming meeting of the U.S. Federal Reserve (Fed) on March 18 that monetary policy is decided “on a meeting-by-meeting basis.”

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Giants on a shopping spree: What's happening in the M&A market right now
3/12/2026 | Aktuelles
3
Giants on a shopping spree: What's happening in the M&A market right now

The mergers and acquisitions (M&A) sector is making a spectacular comeback. After years of caution, corporations around the world are once again on a buying spree—and this is no coincidence, but rather a trend that was long in the making.

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Ethna-AKTIV impresses with record-breaking results and three awards
3/5/2026 | Aktuelles
2
Ethna-AKTIV impresses with tecord-breaking results and three wards

Strong performance, low volatility: Over the past five years, the Ethna-AKTIV has demonstrated that it is possible to achieve top-tier returns and practice active risk management at the same time.

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Why geopolitics is now a historic buying opportunity
3/3/2026 | Markt-Kommentare
6
Why geopolitics is now a historic buying opportunity

Despite the tensions in Iran, the base-case scenario remains intact. Ethenea continues to anticipate a constructive market environment and is managing its portfolio consistently, with a focus on equities and duration. 

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Why we finally need to take action
2/4/2026 | Markt-Kommentare
3
Why we finally need to take action

Germany's wealth is greater than ever – and yet it remains idle. Billions are sitting idle, while inflation and missed opportunities quietly take their toll.

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Courage with a method: why there's no such thing as a return without risk
12/18/2025 | Markt-Kommentare
1
Courage with a method: why there's no such thing as a return without risk

Those who rule out volatility often rule out returns as well. Why controlled risks are the foundation of sustainable wealth building.

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202606 - eng - Webinar Q2/2026
12/15/2025 | Events/Webinare
N.A.
Webinar: Ethna Funds, Q2 | June 10, 2026

We cordially invite you to our ETHENEA Quarterly Update Webinar!
During the webinar, which is intended exclusively for professional investors, our portfolio managers will present—via live video link—both their views on the current state of the economy and the capital markets and the current positioning of our funds.

Read now
202603 - eng - Webinar Q1/2026
12/15/2025 | Events/Webinare
N.A.
Webinar: Ethna Funds, Q1 | March 11, 2026

We cordially invite you to our ETHENEA Quarterly Update Webinar!
During the webinar, which is intended exclusively for professional investors, our portfolio managers will present—via live video—both their views on the current state of the economy and the capital markets and the current positioning of our funds.

Read now
FONDS professionell CONGRESS 2026
11/24/2025 | Events/Webinare
N.A.
2026 - GE - FONDS professionell CONGRESS 2026

Meet our experts at the FONDS professionell KONGRESS in Mannheim and attend the presentation by our CIO and founder, Luca Pesarini.

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  • 2026
  • 2024
February
2/3/2026 | English Publication | Zum Element