Berlin, Berlin, Germany
Calm Investing 🍵 Less noise. More perspective. ❝I take a calm, long-term approach to investing — shaped by over three decades in the markets. My insights as an asset allocator are grounded in independent thinking and real-world experience. Welcome to my LinkedIn community. No paywalls. No hype. Just perspective for those playing the long game.❞ Harald Berlinicke serves as chief investment officer of the fifth-generation Max-Berlinicke-Erben family office in Berlin where he oversees a multi-asset portfolio with a particular emphasis on asset allocation and manager selection. With 35+ years of experience spanning global financial markets and an international career, Harald brings a rare combination of institutional expertise, entrepreneurial acumen, and deep practitioner knowledge across the full spectrum of traditional and alternative asset classes. In the 2000s, Harald was a partner and head of structured credit investments at New Bond Street Asset Management in London, a boutique fund manager he co-founded which reached peak AuM of €8 billion and a total staff of over 30. From 2014 until 2023, he worked as director for alternative investments at Scope Group, a leading European rating agency and fund analysis provider. More recently, Harald has leveraged his extensive network and comprehensive industry insight by acting as Adviser to several independently-owned investment management boutiques — firms he has known, invested with, and followed closely over the years. He has been a CFA charterholder since 2003 and is a long-standing volunteer and consultant at the CFA Institute in Charlottesville, USA. Harald has completed 20 consecutive participations in Level 3 grading and in 2023, he received the much coveted Donald L. Tuttle Award for Excellence in CFA Examination Grading. Known for his calm thinking, dry humour and practitioner’s perspective, Harald is a top finance voice who bridges London-style financial sophistication and German clarity, making complex investment topics accessible at institutional depth. Harald is also recognised for his #linkedinbuddies initiative, which aims to foster like-minded connections amongst fellow professional investors that extend offline through IRL meetups worldwide. Specialties: Asset manager due diligence & fund selection, multi-asset investing, asset allocation, wealth management, institutional investment management, alternative investments, fixed income, structured credit, CDO management, CLOs, hedge funds, fund of funds, UK investment trusts, permanent capital vehicles, debt funds, AIF, liquid alts
As Chief Investment Officer of 5th generation Max-Berlinicke-Erben single family office, I run a multi-asset portfolio with a total portfolio approach mindset, and a particular focus on asset allocation and manager selection. This means each asset class, sub asset class, all the way down to individual assets, need to compete to earn a place in the overall portfolio 💼. I access the multi-asset opportunities through specialized managers globally. Via piggyback-/co-investments, I also enter some of the highest conviction positions of my managers directly. Apart from achieving positive real returns, the metric that matters the most is the marginal impact on risk adjusted return. Each change alters the expected risk adjusted returns and the overall portfolio exposure to core drivers like growth, inflation, credit, real rates, momentum, quality, value, etc. I am constantly looking for differentiated strategies run by preferably boutique managers that improve the expected risk adjusted return over a 10 year horizon. ⚓️ A word on the Big Debate: I prefer the liquidity of publicly listed assets to the smoothed volatility of private markets. I’d rather have drawdowns along the way but be able to course-correct an investment than rely on continuation vehicles fraught with conflicts of interest or evergreen vehicles where liquidity proves elusive. ⚓️ My investment vehicles of choice: Funds (institutional share classes only) and listed investment trusts/permanent capital vehicles (capitalising on at times very wide discounts to NAV) rather than segregated mandates or LPs. ⚓️ My mottos „Better vaguely right than precisely wrong“ and „Skate to where the puck is going, not where it has been“ have to a growing extent guided me as an investor over the 35+ years I have been active in global markets — and they continue to serve me well. ℹ️ For counterparties — Please submit info packages for new investment proposals to: 📬 [email protected]
I have been increasingly involved in supporting the CFA Program through regular volunteer and consulting work for the CFA Institute, Charlottesville, VA since 2011. In 2023, I received the much coveted Donald L. Tuttle Award for excellence in the CFA program Level 3 grading process. Since 2013, I have participated in 20 consecutive grading sessions, acting as team captain 👨✈️ in recent years. CFA Institute is the premier global association for investment management professionals. Since its founding over 75 years ago, CFA Institute has been committed to developing and upholding professional excellence in the global investment community.
Cadarn Capital is an independent fund distribution and investor relations company with a range of fund partners, representing fund assets of over $28bn. Cadarn works alongside a number of best-in-class managers including CVC Credit Partners, EQT, Hg, ICG, J.Rothschild Capital Management, Pershing Square Capital Management and RTW Investments.
Incrementum AG is an independent, fully licensed asset manager based in Liechtenstein, offering a range of investment funds as well as wealth management services for private clients. The company was founded in 2013 and is fully owned by its 5 partners. Among the firm’s offerings, Incrementum All Seasons Fund (IASF), launched in June 2019, pursues a global, long-term multi-asset investment strategy (UCITS). The manager’s active, benchmark-unconstrained, macro-theme driven, and value-based absolute return approach, has delivered excellent returns to investors with a very low correlation to world equity markets. This has so far yielded IASF two Lipper Fund awards in its peer group (EUR Flexible Allocation – Global).
Asset Value Investors (AVI) is a London based FCA authorised investment management firm founded in 1985. The firm manages over £1.8bn across a range of listed funds, open-ended funds, and mandates. AVI specialises in investing in securities that for several reasons may be selling on anomalous valuations. The core focus is on buying high quality, growing businesses trading at wide discounts to their net asset value (NAV). This strategy involves conducting detailed fundamental research in order to understand the drivers of NAV growth and assess the catalysts for a narrowing discount. AVI targets situations where it sees a clear valuation anomaly and often uses engagement or activism to help unlock value and narrow discounts.