Please select your Investor Profile

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.
I agree

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

Interest Rate Trap

The interest rate trap describes the problems for investors resulting from the historic low level of interest rates, which constitute a new threat for conservative investors. The interest rate trap is directly evident for investors in the bond market, but it affects other forms of assets as well. You can get more information from our best-selling book “Die Zinsfalle” (The Interest Rate Trap) or our studies on the effects of the interest rate trap and why conservative investments are becoming a risk.

  • Book review "Die Zinsfalle" (The Interest Rate Trap)

    The book review by Lucas Vogel, Editor-in-Chief of the financial magazine €uro, focuses on Eckhard Sauren’s publication Die Zinsfalle (The interest rate trap). The verdict of €uro: “Fund of funds manager Eckhard Sauren shows ... how the extreme low interest rate policy ... affects all savers and investors. He analyses the risks, clearly and distinctly ... Calm, precise and simply good. The best kind of reader enlightenment”

    €uro: Book review “Die Zinsfalle” (The Interest Rate Trap)«

The new threat for conservative investors – identify and avoid dangers to the portfolio.

Germany is in an interest rate trap. For investors, the search for lucrative yields for their savings is increasingly becoming a challenge. Yields on German sovereign bonds are at historic lows – investors are already losing money in real terms. What most have not yet realised: the continuing low level of interest rates poses a massive threat to many forms of pension investment.

Will life insurance policies actually deliver on their guarantees? Are overnight and term deposit money really secure in the long term? Can defensive mixed funds and asset manage¬ment funds still be recommended?

In “The interest rate trap. The new threat for conservative investors – identify and avoid dangers to the portfolio”, Eckhard Sauren, the pioneer of qualitative fund, analyses with his research team the effects of the interest rate trap and shows which forms of investment are particularly affected. Sauren also interviews three of the most prominent German fund managers, Bert Flossbach, Peter E. Huber and Klaus Kaldemorgen.

The book is published in German by FinanzBuch-Verlag (ISBN 978-3-89879-898-3) and made the manager magazine’s bestseller list shortly after its publication.