ACATIS

What ACATIS does

ACATIS Investment Kapitalverwaltungsgesellschaft mbH is an independent German fund boutique founded in 1994 in Frankfurt am Main by Dr. Hendrik Leber and Dr. Claudia Giani-Leber, originally under the name ACATO. The firm manages investment funds following value investing principles derived from Benjamin Graham, Warren Buffett, and Charlie Munger, and operates as a regulated Kapitalverwaltungsgesellschaft under BaFin authorization received in November 2017. Its product range spans international and regional equity funds, balanced strategies, and bond funds, including a flagship ACATIS Aktien Global Fonds managed continuously since 1997, three AI-powered equity funds (ACATIS AI Global Equities, ACATIS AI US Equities, ACATIS Global Value Total Return), and multiple Article 8 and Article 9 sustainable funds under the ACATIS Fair Value brand. In 2025 ACATIS launched its first ETF, the ACATIS Altersvorsorgedepot UCITS ETF, expanding beyond traditional mutual funds.

ACATIS has invested in proprietary artificial intelligence since 2014, deploying Deep Learning models trained on a proprietary company database covering 50,000 companies with over 1,000 factors dating back to 1986. In 2025 the firm acquired Swiss AI company NNAISENSE, gaining exclusive access to the Large Investment Model (LIM), which generates thousands of plausible market scenarios and is now used both in AI mutual funds and the firm's ETF. Technology infrastructure is maintained through wholly-owned subsidiary ACATIS Research GmbH in Bochum, which develops the firm's stock analysis, order management, allocation, and fund selection software, while ACATIS Service GmbH (Switzerland) acts as a FINMA-authorized distribution entity.

ACATIS generates revenue primarily through management fees and, where applicable, performance fees on assets across its equity, balanced, and bond fund range. Its distribution model combines a regionally-organized sales force (DACH, France/Benelux, Iberia/Italy/UK, Netherlands/Belgium/Denmark), direct website sales to retail, a FINMA-authorized Swiss subsidiary, and third-party platform listings across ten European countries. The customer base spans institutional investors (pension funds, insurance companies, family offices), wholesale partners (financial advisors, banks), and retail/semi-professional investors. ACATIS is owner-managed with no external parent or institutional investor backing. As of July 2026, Thorsten Schrieber joined as Speaker of the Management Board (CEO) while founders Dr. Hendrik Leber and Dr. Claudia Giani-Leber remain on the management board.

Name

ACATIS

Legal name

ACATIS Investment Kapitalverwaltungsgesellschaft mbH

Website

https://acatis.de

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

ACATIS Investment is a German independent fund boutique founded in 1994 that applies value investing principles augmented by proprietary AI. It serves institutional, wholesale, and retail investors across ten European countries with equity, balanced, bond, ETF, and sustainable Article 8/9 funds.

Ownership category

akta.pro rank

Product category

Active Asset Management (Value Investing Funds)

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282)

akta.pro primary industry

Large-Cap Equity (Active) (FSAAAIAA)

akta.pro secondary industries

International/Ex-U.S. Developed Equity (Active) (FSAAAIAE), Emerging Markets Equity (Active) (FSAAAIAF), Multi-Sector / Total Return Fixed Income (FSAAAHAJ)

Keywords

• Value investing funds
• Active asset management
• AI equity funds
• Sustainable investment funds
• Fund boutique

Headquarters

HQ city

Frankfort

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure, Supply Chain

Revenue model

1. Investment Fund Management Fees: ACATIS generates revenue primarily through management fees charged on investment funds under management. The company manages mutual funds across equity, balanced, and bond categories, with fees varying by fund.
2. Performance Fees: Some ACATIS funds may charge performance fees based on returns exceeding benchmarks. The most important financial performance indicator is net margin on inventory-dependent income excluding performance-fee remuneration.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

ACATIS Investment is an independent German fund boutique that manages and distributes a portfolio of active mutual funds and one UCITS ETF across equity, balanced, and bond categories, applying value investing principles (Graham, Buffett, Munger) increasingly augmented by proprietary Deep Learning models and the NNAISENSE Large Investment Model (LIM). The firm sells its funds to institutional investors, wholesale partners (banks, advisors), and retail/semi-professional investors across multiple European countries.

Product overview

ACATIS is an independent German fund boutique specializing in value investing since 1994, offering a comprehensive portfolio of investment funds across equity, balanced, and bond categories. The firm operates as a platform with three dedicated AI-focused funds (ACATIS AI Global Equities, ACATIS AI US Equities, ACATIS Global Value Total Return) that leverage proprietary Deep Learning models for stock selection, alongside traditional value funds like the flagship ACATIS Aktien Global Fonds. Sustainability is integrated through Article 8 and Article 9 compliant funds under the ACATIS Fair Value brand. In 2025, ACATIS acquired Swiss AI company NNAISENSE to enhance its capabilities with the Large Investment Model (LIM), powering its first ETF (ACATIS Altersvorsorgedepot UCITS ETF). The firm's AI initiatives are supported by subsidiary ACATIS Research GmbH and promoted through the acatis.ai sub-brand.

Differentiator

Problem solved

Functional benefit

Brands

• acatis.ai: A dedicated website that builds a bridge between proven value investing and artificial intelligence, exploring how cutting-edge AI tools can enhance the principles of value investing to uncover long-term opportunities.

Products and services

• ACATIS AI Global Equities Global equity fund combining value investing and artificial intelligence, where AI takes over the analytical work of a value investor for all companies and industries worldwide using annual reports and management discussions.
• ACATIS AI US Equities US equities fund investing in top 100 companies based on fundamentals, using in-house AI models to outperform the benchmark, excluding real estate and financial sectors.
• ACATIS Global Value Total Return Global equity fund with active allocation using overlay management, where AI pre-selects companies before classic value filters are applied.
• ACATIS Aktien Global Fonds International equity fund investing according to long-term value principles using fundamental bottom-up analysis with classical shareholder value aspects; ACATIS flagship fund launched May 1997.
• ACATIS Fair Value SDG Better World Fund International sustainable equity fund under Article 9 of EU Disclosure Regulation, combining value investing with ethical and sustainability criteria aligned with UN Sustainable Development Goals.
• ACATIS Small Diamonds Global equity fund focusing on small and mid caps outside major indices, selecting attractively valued companies with proven long-term business models using value investing principles.
• ACATIS Value und Dividende Global equity fund emphasizing strong dividends with minimum 2% p.a., investing in companies with high entrepreneurial value creation and consistent dividend policy.
• ACATIS Asia Pacific Plus Fonds Asia (including Australia/New Zealand, ex-China) equity fund following value investing principles with quantitative and qualitative analysis reinforced by local partner research.
• ACATIS QILIN Marco Polo Asien Fonds Asia-focused equity fund with emphasis on China, including Stock Connect eligible shares and other Asian markets; managed with local research partner Qilin.
• ACATIS Datini Valueflex Fonds Global aggressive balanced fund with extremely flexible investment degree ranging from 0-100%, applying value approach across all asset classes with opportunistic strategy.
• ACATIS Fair Value Modulor Vermögensverwaltungsfonds Global sustainable balanced fund under Article 9, investing in stocks, REITs, bonds, and innovative instruments meeting strict ethical-sustainability criteria.
• ACATIS Value Event Fonds Event-driven balanced fund combining value investing with focus on companies with strong business quality to reduce fundamental risks; Article 8 compliant.
• ACATIS Value Performer Actively managed balanced fund aiming for best performance at moderate risk with defined allocation limits across equities, bonds, and hedge funds.
• ACATIS Euro High Yield High-yield bond fund denominated in euros pursuing value strategy with bottom-up approach, focusing on undervalued bonds through fundamental analysis.
• ACATIS IfK Value Renten Bond fund based on value principles identifying value bonds with particular yield advantage relative to valuation, investing in broadly diversified portfolio.
• ACATIS Altersvorsorgedepot UCITS ETF ACATIS's first ETF, utilizing the Large Investment Model (LIM) from NNAISENSE to create optimized portfolios of 50 stocks (reviewed quarterly) from a universe of 300-350 pre-screened '350 Best of ACATIS' stocks; targeted at retirement planning.

Quantifiable outcome

• Both Article 9 funds received highest FNG Seal award with three out of three stars for 2026
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• NNAISENSEcoreTechnology or Integration · 11 November 2025Swiss AI company acquired by ACATIS in 2025 to enhance AI capabilities in financial markets. The acquisition gives ACATIS exclusive access to NNAISENSE's Large Investment Model (LIM), which predicts market scenarios across asset classes. NNAISENSE's partner Florian Trifterer presented the LIM technology at the 23rd ACATIS Value Konferenz in May 2026.
• Institutional Shareholder Services (ISS)coreStrategic or Co-development PartnerISS provides analysis and voting recommendations with sustainable strategy focus. ACATIS uses ISS services since 2020 for governance analysis and shareholder voting at general meetings, with particular emphasis on good corporate governance.
• QILINminorStrategic or Co-development PartnerLocal research partner for ACATIS QILIN Marco Polo Asien Fonds, providing research and knowledge support for Asian equities investment decisions.
• ACATIS Service GmbHcoreOthersWholly-owned Swiss subsidiary of ACATIS Investment, based in Switzerland. Authorized by FINMA as distributor for institutional and retail investors. Distributes ACATIS financial products approved in Switzerland.
• ACATIS Research GmbHcoreOthersACATIS subsidiary based in Bochum, Germany. Develops customized analysis and management software for ACATIS including stock analysis, order management, allocation model, and fund selection. Hosts all system-relevant applications for portfolio management. Managing Directors: Christoph Brand and Dr. Hendrik Leber.
• ACATIS Fair Value Investment AGcoreStrategic or Co-development PartnerSwiss firm based in Walzenhausen/AR, partnered with ACATIS since 2007 to combine sustainability (Fair) and Value investing under the ACATIS Fair Value brand. Managing Director Rainer Unterstaller负责任 for title selection under rigorous sustainable and ethical criteria.
• CAP2minorOthersIndependent consulting company that calculates CO2 emissions at company level and for investment funds as part of ACATIS's climate neutralization strategy.
• Frankfurt School of Finance & ManagementminorOthersAcademic partner hosting the annual ACATIS Value Konferenz. Over 200 guests attended the 23rd conference in May 2026 at Frankfurt School facilities.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Shareholder Value Management: Frankfurt-based independent value-investing firm managing the Shareholder Value funds. Close peer in philosophy (classic Graham/Buffett value), boutique scale, and German distribution channel.
• Ökoworld ÖkoVision: German sustainable investment boutique with strong Article 9 ethical-screening funds. Directly comparable on the sustainability side of ACATIS's product set and on boutique scale, though more thematic on ecology.
• DJE Kapital AG: German independent value-oriented fund boutique based in Munich, comparable to ACATIS in size, philosophy (value/quality investing), and European distribution footprint. Directly overlapping as Thorsten Schrieber joins ACATIS from DJE's board.
• Carmignac: European independent fund manager combining fundamental and quantitative approaches with multi-asset and sustainability products. Similar boutique-driven, owner-managed structure with strong European brand, though larger AUM.
• Flossbach von Storch: Independent German fund boutique with a strong value-investing pedigree, multi-fund range (equity, balanced, bond), and pan-European distribution. Directly comparable as a DACH-anchored, owner-managed boutique competing for the same wholesale and retail mandates.
• Comgest: European independent asset manager focused on quality-growth and ESG-quality strategies with broad fund range. Comparable on independence, European institutional reach, and quality-driven stock selection.
• Edmond de Rothschild Asset Management: European independent asset manager with value, sustainable, and quantitative strategies across European and global equities. Comparable boutique scale, multi-strategy franchise, and ESG credentials.

Broad incumbents

• DWS Group: Germany's largest listed asset manager with active equity, multi-asset, sustainable, and ETF products. Overlaps with ACATIS across nearly every fund category and is the dominant German-platform competitor for retail and institutional wallet share.
• Allianz Global Investors: Major global asset manager with strong European retail and institutional distribution and a wide fund range including sustainability and AI-themed strategies. A broad incumbent overlapping with ACATIS on European wholesale shelf space.
• Union Investment: Large German cooperative asset manager with broad mutual fund and ETF offerings across value, balanced, and bond categories. A key distribution counterparty (Holger Siegle previously worked here) and a much larger competitor across ACATIS's fund categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/ACATISInvestment
• LinkedInlinkedin.com/company/11253497

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACATIS