Small Caps. Shares of smaller companies, they say, are more susceptible to economic cycles and therefore riskier, especially in crises. This effect can be minimised by clever stock selection, claimed Scott Woods of Columbia Threadneedle a year ago. How did the expert get through the turbulent market phase of recent months with his small-cap strategy?

Dear Readers, what keeps its value? This question not only concerns our network, it was also omnipresent at the Lerbach round. The large states have apparently exceeded the "point of no return" due to the Corona rescue measures, up to which they were able to control their debt burden without the financing of the central banks. So the central banks will (have to) continue to channel money into the cycle. If the money supply now increases much faster than the quantity of goods, won't financial assets - bonds, cash, account balances - at some point become relatively less valuable? The central function of money - apart from its capacity as a means of payment and unit of account - is that of a store of value. If it came under...

Income. Secure interest rate investments will not yield a return for years to come. For investors seeking adequate returns with reasonable risk, broad diversification across a range of alternative investments is the solution.

Economic policy. Fiscal and monetary policy are increasingly converging. Is this a curse? Or a blessing? And what does it mean for the future of the economy, the prospects for growth and the outlook in the various asset classes?

Lerbach round. Since 2010, bankers, asset managers and family officers have been meeting once a year to provide inspiration and guidance to wealthy investors. This year, the experts are not only analysing how the stock markets will react in the face of rising infection figures. Sie are also thinking about what will happen in the markets once we have learned to live with the virus. And in three workshops they discuss the most interesting topics from economic policy and capital investment.

Technology. The corona crisis is a huge challenge for economy and society. And a disruption of historic proportions. For equity investors, it will be even more important now than before to invest in companies with disruptive business models.