We are, at the core, an investment research company, building strong investment convictions and implementing them in concentrated, growth-oriented thematic portfolios.
Through of thorough research and our strong convictions, our investors participate in the significant upside potential of our thematics.
atonra products display low correlations with many financial products, allowing our clients' portfolios to be truly diversified.
Fundamental, scientific, and industrial research is at the core of our DNA
Our investment process explained
We follow five investment steps that allow us to build well-researched, growth-oriented thematic portfolios.
Mapping The Theme
- Deep dive into the Theme (Research Primers)
- Identification of sub-themes
- Objective: no stone unturned
Building a Market Model
- Harvest of all market data available
- Assessment based on scientific & financial internal knowledge
- Objective: short and mid-term (5y) total addressable market and CAGR for every sub-theme
- Initial allocation based on projected market size and growth rate
- Conviction-based sub-theme allocation tweak
- Identification of all industry players
- Selection of companies most likely to capture each of sub-themes growth
- Financial analysis
- Companies' investment case review
- Bear/Blue-sky scenario analysis
- ESG checks
Stock Selection &
Building a Conviction Portfolio
- Assessing the best risk-adjusted returns
- Implementing the sub-theme allocation
- 15-35 stocks
- Top conviction (6-10%)
- Strong conviction (4-5%)
- Good conviction (2-3%)
- Validation by the Investment Committee
Focused on growth themes
Our offering is sharply focused on several key growth themes. We strive at identifying early signs of upcoming strong trends and take full advantage of them by investing accordingly. Seizing them requires dedicated expertise.