CSR Beratungsgesellschaft mbH
CSR Beratungsgesellschaft mbH is an independent, owner-managed German wealth manager founded in 2008 that applies a proprietary forecast-free contrarian strategy (Jahreskanäle) to discretionary mandates and proprietary bond and balanced funds for HNIs, foundations, and institutional clients across the DACH region.
- Company typePrivate
- Founded2008
- HeadquartersHofheim am Taunus, Germany
- Headcount1–10
- GTM typeB2B
- OfferingServices
What CSR Beratungsgesellschaft mbH does
CSR Beratungsgesellschaft mbH is an independent, owner-managed wealth manager (Vermögensverwalter) founded in 2008 by Norbert Clément and headquartered in Hofheim am Taunus near Frankfurt, Germany. The firm operates as a BaFin-regulated asset manager serving private investors, family companies, institutional investors, and foundations/non-profit organizations, with a stated client mix spanning bond management, equity management, balanced strategies, and strategic advisory. The firm manages three proprietary funds — CSR Bond Plus, CSR Bond Focus SDG (Article 9 SFDR, FNG Siegel-certified), and CSR Ertrag Plus (defensive mixed) — plus a sub-management mandate for the Ethius Global Impact Fund from Swiss partner Ethius Invest (mandate effective December 2024).
The firm's core technology is a proprietary, rule-based investment framework called Jahreskanäle (annual channels), which defines annual price bands for equities, bonds, currencies, gold, and bond duration. The strategy is explicitly forecast-free and contrarian, applying mean-reversion logic to buy low and sell high within defined ranges. All investment decisions are made by the three core partners (Norbert Clément, Pia Sauerborn, Borislav Ivanov), with additional shareholders Ulrich Zorn and Dr. Thorsten Rühl supporting coverage.
CSR generates revenue exclusively through recurring management fees on assets under administration across discretionary portfolio mandates, proprietary fund management, and strategic advisory. Pricing is individually negotiated and not publicly disclosed. The company is owned by its partners, with roughly one-third of shares held by the charitable Clément-Stiftung, into which a material share of profits flows. The firm currently operates across the DACH region (Germany, Austria, Switzerland) and explicitly excludes US persons. The firm has announced that, effective 1 July 2026, its core partner team will transition to LeanVal Asset Management AG in Frankfurt am Main, marking the conclusion of more than 18 years of independent operation under the CSR brand.
CSR Beratungsgesellschaft mbH firmographics
Firmographics- Name
- CSR Beratungsgesellschaft mbH
- Legal name
- CSR Beratungsgesellschaft mbH
- Website
- https://csr-beratungsgesellschaft.de
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- CSR Beratungsgesellschaft mbH is an independent, owner-managed German wealth manager founded in 2008 that applies a proprietary forecast-free contrarian strategy (Jahreskanäle) to discretionary mandates and proprietary bond and balanced funds for HNIs, foundations, and institutional clients across the DACH region.
- Ownership category
- akta.pro rank
CSR Beratungsgesellschaft mbH industry classification
Industry- Product category
- Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Discretionary Portfolio Management (Retail) (FSAAAAAH)
Keywords
Where CSR Beratungsgesellschaft mbH is headquartered
LocationHeadquarters
- HQ city
- Hofheim am Taunus
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
CSR Beratungsgesellschaft mbH business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Portfolio Management / Vermögensverwaltung: Discretionary asset management mandates for high-net-worth individuals, family offices, institutional investors, and foundations. Revenue is generated through management fees on assets under administration.
- Investment Fund Management: Management of proprietary investment funds including CSR Bond Plus, CSR Bond Focus SDG, and previously CSR Ertrag Plus. Revenue from fund management fees.
- Strategic Advisory: Strategic investment advisory services for select client segments, particularly foundations and institutional investors.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Institutional investor mandates |
| Other | Annual | Private client / family office mandates |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
CSR Beratungsgesellschaft mbH product offering
Product offeringCore offering
CSR Beratungsgesellschaft mbH is an independent, owner-managed wealth manager that provides discretionary portfolio management, proprietary investment funds (CSR Bond Plus, CSR Bond Focus SDG, CSR Ertrag Plus), and strategic investment advisory services for sophisticated investors. The firm applies a forecast-free, contrarian investment approach using annual 'Jahreskanäle' (annual channels) to define price bands and systematically counter-cycle positions across equities, bonds, currencies, and gold.
Product overview
CSR Beratungsgesellschaft mbH is an independent, owner-managed asset manager offering a focused range of investment funds and wealth management services. The core products include three proprietary funds: the CSR Bond Plus (capital-preservation bond fund), the CSR Bond Focus SDG (Article 9 sustainable bond fund with FNG certification), and the CSR Ertrag Plus (defensive mixed fund). Additionally, CSR manages the Ethius Global Impact Fund under a sub-management mandate from Swiss partner Ethius Invest. All strategies follow an anticyclical, forecast-free investment approach using 'Jahreskanäle' (annual channels) to define entry and exit points, targeting capital preservation with stable returns.
Differentiator
Problem solved
Functional benefit
Products and services
- CSR Bond Plus
- CSR Bond Focus SDG
- CSR Ertrag Plus
- Discretionary Portfolio Management for Institutional Investors
- Private Wealth & Family Company Management
- Foundation & Non-Profit Asset Management
- Strategic Investment Advisory
Quantifiable outcome
- CSR Ertrag Plus Fund achieved 5th place in WirtschaftsWoche ranking 2018 (defensiv category, 343 portfolios) - 4th consecutive year in top 6
- +2 more outcomes
Companies that use CSR Beratungsgesellschaft mbH
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
CSR Beratungsgesellschaft mbH technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
CSR Beratungsgesellschaft mbH partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Ethius Invest (Switzerland)coreSwiss impact investment boutique Ethius Invest mandated CSR Beratungsgesellschaft to manage the Ethius Global Impact Fund, an equity fund focused on active engagement. This represents a significant external validation of CSR's investment capabilities and expansion into active ownership strategies.
- RenditeWerkminorRenditeWerk organizes webinars connecting foundations with wealth managers. Dr. Thorsten Rühl from CSR presented on portfolio theory (July 2022 webinar). RenditeWerk's mission is to build bridges between foundations and asset managers.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
CSR Beratungsgesellschaft mbH competitors and assessment
Company assessmentDirect peers
- Shareholder Value Management AG: Frankfurt-based independent German asset manager applying a value/contrarian stock-picking approach. Comparable in its German independent ownership model and contrarian investment philosophy; however, equity-only vs. CSR's mixed defensive focus.
- Metzler Asset Management: Frankfurt-based, family-owned German asset manager with a long contrarian/value heritage. Comparable in independent family ownership, long track record, and German foundation/institutional client focus.
- Flossbach von Storch: One of Germany's largest independent, owner-led asset managers. Directly comparable in (a) independent owner-managed boutique model, (b) contrarian/quality long-term investment philosophy, and (c) focus on private investors, family offices, and foundations. Operates at materially larger AUM scale (~€70B+) but serves the same client archetypes with the same discretionary mandate approach.
- DJE Kapital AG: Independent German asset manager headquartered in Pullach near Munich. Comparable in being an independent, owner-influenced German manager running mixed defensive and equity funds (e.g., DJE Zins & Dividende) for mass-affluent and institutional clients using a value-oriented, top-down/bottom-up approach.
- Ethenea Independent Investors (EtheneA): Independent, owner-managed German-Luxembourg asset manager known for the Ethna-AKTIV defensive mixed fund. Highly comparable in fund construction (defensive mixed mandates, capital preservation emphasis) and DACH distribution focus.
- Lupus alpha Investment GmbH: Frankfurt-based independent German boutique asset manager. Comparable in independent ownership, German regulated BaFin status, and focus on discretionary fixed-income and mixed strategies for institutional and intermediary distribution.
- ACATIS Investment (Value) Fund / ACATIS Datini Capital: Independent, owner-influenced German asset manager with a strong value/contrarian tilt and ESG-accredited funds. Comparable in independent German boutique model and value-oriented DACH client base.
Emerging players
- Quirin Privatbank AG: Berlin-based German independent private bank with a digital wealth management arm and a focus on private clients and foundations. Comparable in serving German foundations and private clients with fee-based advisory/discretionary mandates, though with a more digital hybrid distribution model.
Broad incumbents
- FU Fonds (Union Investment) private label arm: Union Investment's private-label / individual portfolio management arm. Comparable as a German regulated manager offering discretionary and advisory mandates to foundations, family offices, and private clients, but embedded in a much larger cooperative banking group.
- DWS Group (Deutsche Bank Asset Management): One of Europe's largest asset managers with extensive German-Austrian-Swiss distribution. Comparable in offering Article 9 ESG products and traditional mixed defensive funds, but as a broad incumbent rather than a values-aligned independent boutique.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CSR Beratungsgesellschaft mbH social profiles
Digital presenceCSR Beratungsgesellschaft mbH compliance and trust
Trust signalCompliance4 records
CSR Beratungsgesellschaft mbH financial estimates
Financial estimateRevenue estimate
Valuation estimate
CSR Beratungsgesellschaft mbH leadership team
Management profileNumber of profiles
Profiles5 records
CSR Beratungsgesellschaft mbH funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CSR Beratungsgesellschaft mbH M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CSR Beratungsgesellschaft mbH
What does CSR Beratungsgesellschaft mbH do?
CSR Beratungsgesellschaft mbH is an independent, owner-managed wealth manager that provides discretionary portfolio management, proprietary investment funds (CSR Bond Plus, CSR Bond Focus SDG, CSR Ertrag Plus), and strategic investment advisory services for sophisticated investors. The firm applies a forecast-free, contrarian investment approach using annual 'Jahreskanäle' (annual channels) to define price bands and systematically counter-cycle positions across equities, bonds, currencies, and gold.
Is CSR Beratungsgesellschaft mbH a public or private company?
CSR Beratungsgesellschaft mbH is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was CSR Beratungsgesellschaft mbH founded?
CSR Beratungsgesellschaft mbH was founded in 2008. It employs 1 to 10 people.
Where is CSR Beratungsgesellschaft mbH based?
CSR Beratungsgesellschaft mbH is headquartered in Hofheim am Taunus, Germany, in the Europe region.
How does CSR Beratungsgesellschaft mbH make money?
Three revenue lines are on record. Portfolio Management / Vermögensverwaltung is the primary driver. The others are investment Fund Management and strategic Advisory.
Who are CSR Beratungsgesellschaft mbH's main competitors?
Direct peers on record are Shareholder Value Management AG, Metzler Asset Management, Flossbach von Storch, DJE Kapital AG, Ethenea Independent Investors (EtheneA), Lupus alpha Investment GmbH and ACATIS Investment (Value) Fund / ACATIS Datini Capital. Quirin Privatbank AG is listed as an emerging player. Broad incumbents are FU Fonds (Union Investment) private label arm and DWS Group (Deutsche Bank Asset Management).
Does CSR Beratungsgesellschaft mbH have an API?
No public API is recorded for CSR Beratungsgesellschaft mbH.
What industry is CSR Beratungsgesellschaft mbH in?
CSR Beratungsgesellschaft mbH's product category is Wealth Management. Its primary akta.pro industry code is FSAAAAAH, Discretionary Portfolio Management (Retail). Its NAICS code is 523940 and its SIC code is 6282.