One portfolio.
Many managers launch multiple funds across styles, geographies and themes. At the same time, they often spread their investments across 50 or more positions, which in practice turns them into expensive index funds. This dilutes focus and creates conflicts of interest. Meritum will never run more than one portfolio. Our focus is dedicated to a unique investment universe and the same 10–20 companies that we own together with you.

A valuable building block for investors.
Our portfolio bears no resemblance to any benchmark, as underlined by our active share of more than 99%. While indices are trading at historically high valuations with more than 40% exposure to AI-related stocks, we offer genuine differentiation through defensive and predictable growth companies across a broad range of industries.

We are fully invested ourselves.
Our personal wealth is invested alongside yours in exactly the same portfolio. We own no shares outside the fund.

Our options mandate offsets the fixed management fee.
Most managers do not have a mandate to trade options. We do. When one of our holdings rises sharply over a short period, our risk management would sell a small part of the position anyway to keep the portfolio balanced. So instead, we sell the right to buy that part if the share price rises above an agreed level, and we are paid for it immediately. If we are going to sell anyway, we might as well be paid while we wait. This generates approximately 0.7% in additional return per year, offsetting our fixed fee of 0.68%.