Name

S4A

Legal name

Source For Alpha AG

Website

https://source-for-alpha.de

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591)

SIC

Investment Advice (6282)

akta.pro primary industry

Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)

Keywords

• Wealth management services
• Equity fund management
• Portfolio management
• Investment advisory
• Asset management

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Investment Fund Management Fees: S4A generates revenue primarily through management fees on its six investment funds (S4A Pure Equity Germany, S4A EU Pure Equity, S4A US Long, S4A US Equity ESG, S4A US Equity Small & Mid Cap, Better Future Aktien Global). Management fees are charged as an annual percentage of assets under management (up to 1.90% p.a. for R-shares; lower for institutional I-shares), plus performance fees of 20% on annual outperformance with high-watermark provisions.
2. Discretionary Wealth Management Mandates: S4A offers personalized multi-asset portfolio management for private clients, family offices, foundations, and institutions starting at EUR 500,000 minimum investment. Revenue is derived from advisory fees and portfolio management fees, typically charged as a percentage of assets under management.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Source For Alpha AG (S4A) is an independent Frankfurt-based wealth management firm offering systematic, empirically-driven investment funds and discretionary private wealth management mandates. The firm manages six equity investment funds covering German (DAX/MDAX), European (Euro Stoxx 600), US (S&P 500, Russell 2000), and global sustainable strategies, plus bespoke multi-asset portfolios for private clients, family offices, foundations, and institutional investors with a minimum EUR 500,000 investment threshold.

Product overview

Source For Alpha AG (S4A) is an independent Frankfurt-based wealth management firm offering a coordinated suite of investment products and services. The product portfolio consists of six investment funds — S4A Pure Equity Germany, S4A EU Pure Equity, S4A US Long, S4A US Equity ESG, S4A US Equity Small & Mid Cap, and Better Future Aktien Global — along with private wealth management mandates (starting at €500,000) and institutional investor services. All funds follow a systematic, rules-based investment process grounded in empirical capital market research. Funds span German, European, US (standard, ESG, and small/mid-cap), and global sustainable equity strategies, with the Better Future fund utilizing an innovative swarm intelligence approach to sustainability.

Differentiator

Problem solved

Functional benefit

Brands

• S4A Pure Equity Germany: Scientifically-based equity fund for German stocks, investing in DAX 40 and MDAX companies with systematic filtering for risk, value, and momentum factors.
• S4A EU Pure Equity
• S4A US Long
• S4A US Equity ESG
• S4A US Equity Small & Mid Cap
• Better Future Aktien Global

Products and services

• S4A Pure Equity Germany A scientifically-driven equity fund investing in German stocks from the DAX 40 and MDAX indices, using a systematic filter to eliminate high-risk, loser, and expensive stocks based on valuation, risk, and momentum factors.
• S4A EU Pure Equity A fund for systematic investment in European equities, covering all euro-denominated titles of the STOXX 600 Index with continuous filtering to eliminate high-risk and underperforming stocks based on valuation, risk, and momentum factors.
• S4A US Long A value-oriented US equities fund that calculates a value indicator for each S&P 500 stock based on financial metrics, combining valuation with momentum and risk factors to identify underpriced stocks with strong long-term performance potential.
• S4A US Equity ESG A US equity fund investing in S&P 500 stocks meeting dual sustainability filters: minimum MSCI ESG rating of BBB and compliance with target market, BaFin, and Good-Governance criteria, combining the proven fact-based strategy with ESG standards.
• S4A US Equity Small & Mid Cap A US small and mid-cap fund investing in US companies with market capitalization below USD 10 billion (from Russell 1000 and Russell 2000), leveraging the proven S4A US Long investment strategy in a segment with high diversification potential.
• Better Future Aktien Global A sustainable global equity fund that systematically applies swarm intelligence of all sustainability fund managers, using the most frequently held positions in Article-9 dark green funds as the basis for its selection process, implementing sustainability within a rules-based investment strategy.
• Private Wealth Management Private wealth management service for Family Offices, foundations, companies, and private clients with a minimum investment of EUR 500,000, offering individually tailored multi-asset portfolios built on scientifically confirmed investment rules.
• Institutional Investor Services Advisory and management services for institutional investors including pension funds, insurance companies, and foundations, with capabilities ranging from public and special funds to separate asset management mandates.

Quantifiable outcome

• S4A Pure Equity Germany won Scope Award 2026 for Best Fund, Equities Germany
• +6 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• EBS Business SchoolcoreStrategic or Co-development Partner · 1 January 2019Source For Alpha has its roots in capital market research at EBS Business School. The company was founded by researchers from EBS, and continues to engage in empirical capital market research. S4A also collaborates with renowned institutes in capital market research as part of its ongoing research activities.
• Universal-Investment-Gesellschaft mbHcoreOthersUniversal-Investment serves as the fund administrator (Kapitalverwaltungsgesellschaft, KVG) for all S4A investment funds. The company handles fund administration, compliance, and regulatory reporting functions for S4A's fund products including S4A Pure Equity Germany, S4A EU Pure Equity, S4A US Long, S4A US Equity ESG, S4A US Equity Small & Mid Cap, and Better Future Aktien Global.
• UBS Europe SEcoreOthersUBS Europe SE serves as the custodian bank (Verwahrstelle) for all S4A investment funds. S4A also cooperates with UBS as one of its depot banks for private wealth management mandates.
• Deutsche BankcoreOthersDeutsche Bank is one of the depot banks that S4A cooperates with for private wealth management mandates. S4A works with multiple custody banks to ensure independence and flexibility for its clients.
• VBank (Volksbank)coreOthersVBank is one of the depot banks S4A cooperates with for private wealth management mandates. This partnership enables S4A to offer clients choice among different custody solutions.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Shareholder Value Management: Frankfurt-based German value equity boutique with a long-running, rules-based approach to single-stock selection. Comparable to S4A's Pure Equity Germany and value-driven funds as an independent German boutique serving HNW and family office clients with concentrated equity mandates.
• Plutos Vermögensverwaltung: Frankfurt-based German independent wealth manager offering multi-asset discretionary portfolios to HNW and family office clients. Directly comparable to S4A's Frankfurt private wealth management business - a recent S4A hire (Andreas Othmer) came from Plutos.
• TBF Global Asset Management: German boutique specializing in systematic, fundamentally-driven equity strategies including small/mid-cap and value approaches. Comparable as a small, science-driven German asset manager offering active equity funds to similar retail, HNW, and institutional channels.
• Frankfurter Vermögen: Frankfurt-based independent asset manager offering discretionary wealth management mandates to affluent private clients. Comparable as a Frankfurt-located independent competitor (Ken Sollner joined S4A from Frankfurter Vermögen), competing for the same HNW segment with EUR 500K-minimum mandates.
• ACATIS Investment: German value and sustainable boutique asset manager applying systematic, research-based equity selection. Highly comparable to S4A's value-factor methodology and its Better Future Aktien Global Article 9 product, targeting similar German HNW and institutional investors.
• GANÉ Aktienfonds: German value-focused boutique asset manager running systematic, research-driven equity strategies for HNW and institutional clients. Directly comparable to S4A as an independent, science-driven German equity specialist serving similar client segments with concentrated, rules-based fund offerings.

Broad incumbents

• DWS Group: Large German-listed asset manager (Deutsche Bank subsidiary) offering scale, brand, and global platform distribution that dwarfs S4A's boutique offering. Competes across retail and institutional segments via passive and active products, including Xtrackers ETFs that directly pressure S4A's fee levels.
• DJE Kapital AG: One of Germany's larger independent wealth managers applying systematic, multi-factor value approaches across equities and multi-asset funds. Comparable as a broader incumbent in the same space, with a wider product range and greater scale than S4A, overlapping in HNW and institutional channels.
• Flossbach von Storch: Major German independent asset manager with broad multi-asset and equity capabilities. Significantly larger than S4A but competes for similar HNW and family office mandates in the German market with a more diversified product shelf.
• Union Investment: One of Germany's largest mutual fund and asset management companies, serving as a broad incumbent whose retail and institutional fund platforms compete with S4A's fund shelf in the same German and European distribution channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/source-for-alpha

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about S4A