i.Risk capital
Equity holdings are expensive capital. Whether held directly or through physical ETFs — equity portfolios produce high RWAs. With risk weightings rising towards 2030, investment decisions are increasingly distorted, with suboptimal outcomes in asset allocation.
ii.Tail behaviour
Protection on the downside is required. For a classical bank with a conservative own-account book, the drawdowns typical of equities are not acceptable. Its core business must be supported by the own account and not the other way round — at every point in time.
iii.Reporting standard
Investments need to be representable. An investment has to serve organisational requirements so that regulatory reporting and internal reporting are possible.
| Capital-efficient equity exposure | The fund builds its exposure synthetically: equity index futures over a base portfolio of high-grade public bonds. For the own account that construction is precisely the point for low RWAs — designed for capital efficiency under CRR. |
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| Tail-risk protection | Loss limitation via annual put hedges struck at 90%, with quarterly review of the protection level and, where indicated, new put positions. Without severe equity drawdowns the portfolio stabilises — forming a higher base for renewed growth. |
| Reporting data & interfaces | Daily NAV publication, full holdings transparency via look-through, monthly CRR/CRD reporting and bank-specific interfaces (such as FI for Sparkassen) are provided as standard. And an open ear for your further reporting requirements… |
| Dialogue | Do you have deeper questions, or would you like a technical model walkthrough? Talk to the founders themselves rather than an anonymous sales specialist. |
Every investment opportunity carries risk — opportunities and risks at a glance.
Your risk controller is welcome from the very first conversation.
Request fund information Your enquiry reaches the founders directlyPhotograph: Frankfurt am Main by Marco Nürnberger, CC BY 2.0, via Wikimedia Commons. Marketing communication for professional investors. No offer or investment, legal, regulatory or tax advice; the regulatory and capital treatment of an investment depends on the individual institution and its supervisory framework and must be assessed by the investor. Subscriptions only on the basis of the prospectus, PRIIPs KID and latest report of 1st IQ SICAV — QI Global Guarded Equity, registered for distribution in Luxembourg, Germany and Austria. The Guard mechanism reduces risk but is no guarantee against losses; capital loss is possible.
QI Global Guarded Equity is an actively managed subfund; it is managed without reference to a benchmark index. Investors acquire shares in the subfund and not the assets it holds. The sales prospectus and the key information document (PRIIPs KID) are available in German and English, free of charge, via the management company’s fund portal: Class P · Class R. A summary of investor rights is available in German and English. The management company may decide to terminate the arrangements made for the marketing of the fund in accordance with Article 93a of Directive 2009/65/EC. Future performance is subject to taxation which depends on the personal situation of each investor and which may change in the future. Opportunities and risks at a glance · Glossary.
Investment advice according to section 2 para. 2 no. 4 German Wertpapierinstitutsgesetz (WpIG) and investment brokerage according to section 2 para. 2 no. 3 WpIG shall be made on behalf of, in the name of, for the account and under the liability of the responsible legal entity BN & Partners Capital AG, Steinstraße 33, 50374 Erftstadt, according to section 3 para. 2 WpIG. BN & Partners Capital AG has a corresponding license from the German Federal Financial Supervisory Authority (BaFin) in accordance with section 15 WpIG for the prenamed financial services.