Here we are – we’ve just reached our first €100 million in assets under management (AUM). We aren’t the first firm to achieve this. But we are unique for having done it fairly and transparently to all our stakeholders.
Fairness to our clients
We have reached the €100 million AUM threshold with a transparent fee structure applicable to everyone. We have also returned all thinkable and unthinkable kickbacks to our clients (e.g. trailer fees, sales charges, and structuring fees). We have done it before Mifid II came into effect – since our inception in 2007, instead (read: HCP Initiative). We respect our clients and demonstrate it in the way we operate. We are grateful for your trust, now and ever.
The way we work
We are also transparent in our salary structure. The lowest salary of a permanent employee – excluding new partners – is only 35% lower than the one paid the most. We pay no bonuses.
We reward everyone committed to the company by making them an owner. Staff who have joined after the company was founded collectively own 38% of the company (if we include current employees who have been here since the day one, this goes up to 57%).
We own this company together. We have said that we respect everyone, and this extends to employees. This is important for us, because we want to create long-term value.
Best for the world
We want to show a positive example for how to operate in the financial services sector. We are one of the very few B Corp asset managers globally. If you are interested in how we have qualified for this prestigious certification, you can check out our B Corp profile.
This year the B Corp community saw another – and very significant – example. Lombard Odier, a long-established, and highly respected Swiss banking group, also received B Corp Certification. We are delighted that they have become part of our B Corp family – with its CHF 259 billion in AUM.
We might need the next 20 years before we reach our first €1 billion in assets under management at the current pace, and we are prepared for this long-term journey. We anticipate a possible recession, and for years already, we have accumulated a safety buffer. This is to make sure that we can ride out the waves even in the period of economic downturns.
We do our best to continue growing and to be part of this industry. This is important for the society around us and for our stakeholders engaged with us via our #HCPSPIRIT activity.
Let’s imagine what we do could together with €1 billion under management. We’re already working to make this a reality.
Read more in our Sustainability Report 2018.