How we invest.
An asset management platform of Xaver Asset Management GmbH, supervised by BaFin, built on low-cost instruments and a lifecycle-driven allocation framework. Portfolio management & subsidy management belong together here: asset management with ZfA-integrated subsidy logic, from one source.
Lifecycle, de-risking, built once, properly.
Calibrated nonlinear Lifecycle Model glide path – three paths Secure, Balanced, Growth (MiFID risk classes 1–3), calibrated in VEV with equity shares derived from the VEV target. Long-horizon starts (52 years to retirement) 75.4 / 84.6 / 93.9%, strategic retirement endpoints 10.0 / 25.6 / 36.6%. A later entry starts further along the same path. The pension reform act (AVRG) caps growth assets at max. 50% from 5 years and max. 30% from 2 years before payout, so the Growth path is clipped to 30% in its final years.
Three Lifecycle Model paths – Secure (start 75/25), Balanced (85/15), Growth (94/6) – selected by MiFID risk class and calibrated in VEV. The pension reform act prescribes the de-risking caps: max. 50% growth assets five years and max. 30% two years before payout starts. The strategic Growth endpoint (36.6%) is therefore capped at 30% at payout start.
Every family runs on the same investment mechanism: lifecycle-driven allocation with automatic de-risking before payout. We show the glide path once, here; the product families focus on what makes each one different: variations, building blocks and costs.
- Three risk paths – Secure, Balanced, Growth (MiFID classes 1-3) – with different starting allocations from 75/25 to 94/6, on the same de-risking mechanic.
- De-risking caps per the pension reform act tie risk to remaining horizon – automatically, without adviser intervention.
- Regular rebalancing and continuous risk monitoring keep every portfolio inside its target band.
- Xaver Asset Management GmbH runs construction, monitoring and reporting.
How the path is calibrated.
Risk is calibrated in VEV (VaR-equivalent volatility) – the same measure behind the PRIIPs market-risk indicator. Equity and fixed-income weights are derived from the VEV target, not set directly. MiFID suitability selects the path; the remaining time to retirement sets the position on it.
Customer aged 42, Balanced, 25 years to retirement: VEV target ≈ 15.9%, target allocation 66 / 34 (equity / fixed income). No discretion at the point of sale.
Important distinction: the three MiFID customer risk classes are not the seven PRIIPs risk classes. The KID's summary risk indicator follows the PRIIPs rules and also reflects credit risk.
| Path | MiFID class | Start equity | Retirement endpoint | Long-horizon VEV | Retirement VEV |
|---|---|---|---|---|---|
| Secure | 1 | 75.4% | 10.0% | 17.98% | 4.33% |
| Balanced | 2 | 84.6% | 25.6% | 20.39% | 6.74% |
| Growth | 3 | 93.9% | 36.6%* | 22.80% | 9.14% |
* The strategic Growth endpoint of 36.6% is reduced to 30% at payout by the pension reform act (AVRG) de-risking cap. Endpoint values follow from the product's baseline calibration.
Your brand. Our investment architecture.
- 01Instrument Selection
Low-cost ETFs and funds from the world's largest asset managers, selected for cost, liquidity and tracking quality.
- 02Portfolio Construction
Diversified multi-asset portfolios built on an institutional allocation framework for long-term pension goals.
- 03Risk Management
Continuous monitoring of market, concentration and liquidity risk, with clear governance and escalation paths.
- 04Lifecycle Management
Glide paths with de-risking caps before payout, risk steps down automatically as the goal approaches.
One cost line per year.
No hidden transaction or front-load charges. The concrete costs per product family – and indicative example portfolios – live with the product families themselves.
Built on low-cost instruments from the world's largest asset managers.
Walk through your use case with us.
- We show you the modules that matter for your case
- With Max Bachem, founder & CEO
- No obligation, no preparation needed