Schlüsselveranlagung

Schlüsselveranlagung, often translated as "key investment" or "strategic allocation," is an investment strategy where a portfolio is constructed around a select few high-conviction assets. Instead of diversifying broadly across many different securities, this approach focuses resources on what the investor believes are the most promising opportunities for significant growth or returns. The core idea is that by concentrating on a smaller number of well-researched and confidently chosen investments, an investor can potentially achieve superior performance compared to a more diversified portfolio.

The success of Schlüsselveranlagung hinges heavily on the investor's ability to accurately identify these key assets. This requires in-depth research, a thorough understanding of market dynamics, and a strong conviction in the future prospects of the chosen investments. Proponents argue that diversification can dilute returns, especially during periods of strong market performance where a few key assets might significantly outperform the broader market. By focusing on these potential outperformers, investors aim to capture a larger portion of their upside.

However, Schlüsselveranlagung also carries higher risks. If one or more of the concentrated investments perform poorly, the overall portfolio can suffer substantial losses. This strategy is generally considered more suitable for experienced investors with a higher risk tolerance and the capacity for rigorous due diligence. It stands in contrast to traditional diversification strategies that aim to mitigate risk by spreading investments across various asset classes, industries, and geographies.