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Information for private investors



The content and information on the following website are aimed at private investors in countries in which the respective fund is authorised for distribution.

The respective funds may not be offered for sale within the USA or to U.S. citizens or to U.S. persons domiciled in the USA, nor be sold to the aforementioned. The following published documents and their content may not be distributed in the USA or in other countries in which the respective fund is not authorised for distribution. Please refer to the respective sales prospectuses of the particular investment funds for further details of relevant limitations.

Where the following website and its contents are offered in English, the purpose is merely to provide non-binding translations for information.

I have read, understood and acknowledged the limitations on distribution, the legal information including the terms and conditions of use as well as the data protection notices.
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Information for professional investors



Please note that the translation of the German website into English is exclusively for investors in Germany.
The following website and its English contents are offered to provide a non-binding translation for information purposes.



The following website and its content are intended for our professional investors, such as banks, financial service providers and brokers in accordance with § 34 f of the German Trade, Commerce and Industry Regulation Act (Gewerbeordnung, GewO). They are also aimed at professional investors pursuant to the statutory requirements of the Markets in Financial Instruments Directive (MiFID). Accordingly, professional investors are investors of whom it can be assumed that they have the necessary experience, knowledge and expertise for making investment decisions and adequate assessments of the associated risks. In particular, this includes asset managers, sales partners and financial intermediaries.

The information that has been placed on the following website does not in principle take account of statutory requirements for the presentation of information for private investors and is therefore not suitable or intended for private investors. The following content is consequently intended for professional investors and should not in principle be made accessible to private investors. In particular, this applies to diagrams, texts, videos and other depictions on the website.

The following applies for PDF documents:

There are two groups of PDF documents on the following website. Unless expressly indicated, access to all uploaded PDF documents can be granted to private customers in the course of distribution. If PDF documents are not suited to being passed on to private customers, this should be indicated accordingly on the document, for example, with a text containing the following content: “This document is intended for professional investors only and should not be made accessible to private investors”.

The respective funds may not be offered for sale within the USA or to U.S. citizens or to U.S. persons domiciled in the USA, nor be sold to the aforementioned. The following published documents and their content may not be distributed in the USA or in other countries in which the respective fund is not authorised for distribution. Please refer to the respective sales prospectuses of the particular investment funds for further details of relevant limitations.

Where the following website and its contents are offered in English, the purpose is merely to provide non-binding translations for information.

I have read, understood and acknowledged the limitations on distribution, the legal information including the terms and conditions of use as well as the data protection notices.
I agree

Investment Philosophy

"We do not invest in funds – we invest in fund managers”

Since 1994, Sauren has relied on a unique investment philosophy focusing on the fund manager. In numerous personal meetings with fund managers every year and the experience from over 6,000 meetings, Sauren analyses promising investment opportunities for the future.

At first glance, finding the right fund is easy. Past performance is easy enough to quantify. To understand how success is achieved and whether it can be replicated over time requires a fundamental analysis of the decisive factor governing future performance – the fund manager and their investment philosophy.

Since 1994, Sauren has focused on the unique investment philosophy: "We invest in fund managers – not funds". In 350 interviews each year with fund managers, we analyse fund managers' personalities and skills, using the experience we have gained from over 6,000 such meetings. Is our success the result of careful analysis and strategies? Or has the fund manager merely benefited from a favourable environment? These meetings and the qualitative analysis of their philosophy and strategy result in a comprehensive profile, with a detailed evaluation of the fund manager’s qualities.

Ongoing monitoring and interpretation of the environment for volume also plays a central role. (The smaller the fund, the more flexible the manager can be in their decisions.) In addition, where the managed assets are small, investment ideas can be implemented without impacting the investment universe. A small fund allows experienced fund managers to generate substantial excess return compared with the market index.

The Sauren Group has successfully implemented this investment philosophy in managing for more than 20 years. The impressive long term performance and numerous awards show that people-based analysis pays off across all investment segments and strategies.

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