Holger Wehner

WMAMK is an active, VARP-oriented manager (Value At a Reasonable Price), whose investment philosophy and process is focused on European and Emerging Markets. The firm specializes in the management of European bonds, Euro corporates, European ABS, European high yield, global high yield, European equities, European balanced funds, multi-asset funds and asset allocation products. WMAMK's equity investment process combines fundamental-driven, bottom-up stock selection with disciplined quantitative analysis, and involves a three stage filtering process. First an internally developed quantitative stock screener made of three inputs (a multi-factor model, a CFROI model and a technical model) identifies pricing anomalies, then a team of in-house analysts establishes their fundamental view of the value of these companies, and finally a portfolio is constructed with high stock-specific risk. As a fixed-income manager, the firm specializes in investment-grade Euroland bonds and combines fundamental and quantitative analysis in a top-down selection process. Asset managers conduct in-house research and build model portfolios as well as a list of investment opportunities from which fund managers select securities while replicating the structure of the model portfolio. Risk management is an ongoing process and portfolios are controlled ex-ante and monitored ex-post. WMAMK has a multi-factor team-based approach to decision making and evaluates performance on a risk-adjusted basis.