I would probably leave out the IPRV, at least if you are doing it to invest in PE. PE is not called "private equity" for nothing and is only possible to a limited extent when listed (this may change now with some ELTIFs participating directly in co-investments, but we'll have to wait and see). With IPRV, you tend to invest in large asset managers (since the early 2000s, KKR and Blackstone have been in so many asset classes that they hardly call themselves private equity firms anymore, similarly with Apollo and now also EQT... and Partners Group is also only a manageable part). Apart from that, you invest in the listed management company and gain virtually nothing from the success of the portfolio companies that are in the closed-end funds... because the sales proceeds first go to the investors in the closed-end funds and then largely to the investment teams, i.e. the employees.
Otherwise, I also think it is very tech-heavy... regardless of Trump, the valuation situation should normalize at some point. I would position it a little more broadly in terms of sectors.
Otherwise, I also think it is very tech-heavy... regardless of Trump, the valuation situation should normalize at some point. I would position it a little more broadly in terms of sectors.
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•@Investorentagebuch super interesting, thank you! I will take a closer look at the PE topic and possibly phase it out as a savings plan. In fact, I had expected to be more "directly" involved in the success of these PE companies.
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