WEGA INVEST

For current
and future
generations

About WEGA is a German single family office with more than 20 years of experience

WEGA is the family office of the Wendeln family, a German entrepreneurial family with roots in the industrial bakery space going back to 1919. The family office was founded in 2000 after the sale of the family’s operating business.

WEGA employs a diversified investment approach, based on the US Endowment model with diversification on a regional and asset class basis. WEGA is committed to the principles of responsible investing.

What’s important to us

Fairness and accountability

Pursuit of excellence

Consistency

CRITERIAManager selection is based on three main criteria

For each fund investment we weigh its prospective returns, the associated risk and its impact on environment and society. Investments should have an ideal balance of all three criteria.

Every prospective investment is subject to a thorough due diligence process and is measured against our investment criteria. The assessment is summarised in the investment grid.

Return

Long-term, successful track record with existing team and comparable structure

Impact

Generating an active, positive impact on environment and society

Risk

Transparent strategy without tail risks, good interest alignment between manager and investors

Strategy Asset Allocation

Asset Classes

Aside from our focus on high quality managers, our asset allocation targets broad exposure to a diverse set of return and risk drivers. We view diversification as an important input to achieve an attractive risk-return profile.

Regions

To adequately manage global risks and opportunities we choose to invest evenly across the three dominant economies – Europe, North America and Asia.

Equity-like returns with significantly lower drawdown risk and with a positive impact

We invest the family wealth in an efficient and sustainable manner. We identify and back the best fund managers globally across asset classes. We have a long-term investment horizon and invest accordingly.

Efficient and sustainable investing to us refers to an optimal balance between prospective returns, the associated risks and the impact on environment, climate and society at large.

Global equities
Global bonds
WEGA target corridor

Underperformance during bubbles
Wealth protection during drawdowns
Positive absolute return

impactWe want to bring about positive change….

WEGA perceives sustainability as an existential responsibility that we must adhere to as a globally active investor.

We feel we have a responsibility and have summarized our plan of action in WEGA’s ESG Policy.

We will continuously expand our impact activities and use our leverage as an investor to maintain the environment for current and future generations.

We look for investments that actively generate a positive impact. We define impact as the delta that a manager is able to generate for the environment, climate and society.

We expect all our partners to live up to their responsibility. Of our managers, we ask that they optimize the active, positive impact considering the confines of their strategy.

PDF, 370 KB Download ESG Policy

… and set up our portfolio accordingly

We classify each investment into one of seven categories, depending on their impact on the environment and society. This is based on our ESG questionnaire and our due diligence findings. Our categorisation are made available to our managern.

Our goal is to improve the portfolio’s profile over time. We are actively seeking investments that fall into the A – B categories. Currently, much of the portfolio still falls into categories C – X. Over time we will redeem from investments that fall into the Y – Z categories.

Positive Impact

A High Positive Impact

Impact fund, primary objective of >50% of all Investments is to generate positive impact. Manager defines and monitores impact tragets. Impact generation is part of the incentive system and at the centre of corporate culture

B High Net Positive Impact

Manager actively works towards a significant improvement in ESG KPIs (ESG activist) and generates a meaningful impact delta. ESG is part of the corporate philosophy.

C ESG Integration

Focus on ESG themes such as Affordable Healthcare, Renewable Energy or Environmental Protection. Alternatively with a strong focus on ESG in the selection process with ESG being on par with return and risk. ESG embedded at top management level and part of the corporate culture.

No Impact

D ESG Awareness

Manager incorporates ESG extensively into selection process and works towards an improvement in ESG KPIs. ESG is secondary to return and risk. Investments in trash sectors <2%.

X ESG Ignorance without Impact

ESG is not a main focus of the manager. Portfolio focus on sectors without a negative impact (investments in trash sectors <5%).

Negative Impact

Y ESG Ignorance with Impact

ESG is not a main focus of the manager. Portfolio focus in part on sectors that do have a negative impact (investments in trash sectors <25%).

Z ESG Negative

Portfolio with significant negative impact risk (>25% in trash sector according to WEGA definition). Manager does not have credible ESG targets or does not consider ESG part of his responsibility.

Team Munich

The WEGA team in Munich (WEGA Invest) and Garrel (WEGA Support) has a total of 16 employees. The team is complemented by an advisory board under the stewardship of family representatives.

Team Munich

The WEGA team in Munich (WEGA Invest Gmbh) and Garrel (WEGA Support GmbH) has a total of 16 employees. The team is complemented by an advisory board under the stewardship of family representatives.