Daetwyler Holding 6.08%
Possa's portfolio is very concentrated, with the top 10 positions taking up 40% of the portfolio.
Possa said all five of the biggest companies are dominated by strong anchor shareholders, families that have led them through many storms in a responsible way.
‘The entrepreneurial culture in these names is very strong. There is a partnership between employees, the owners and the management and because of that there is much less turnover in personal. CEOs on average stay much longer, with all the positive implications that has on the strategy, the stability and the profitability.’
The biggest holding is Bossard, a fastener technology and logistics company, which has Tesla and John Deere as clients.
‘Thanks to its innovation culture, the company is able to fulfill Tesla’s needs for innovative solutions in order to fix carbon parts of the car body.’
When it comes to Bobst the fund manager says the company is a good example of the transformation of a formerly management-driven company into an entrepreneur-driven one.
'The arrival of Jean-Pascal Bobst as a new CEO about 6 years ago lead to a stringent implementation of lean management tools and resulted in lower capital deployment rates.'
He added that the company's digital solutions will bear fruit in the coming years. Possa said these developments would never have taken place if the firm was owned by short-term oriented financial investors.
Speaking about Daetwyler the fund manager said it is the only company, which was able to master the production and application of the silicon joints for the Nespresso cap system.
'Thanks to its know-how in materials, processes and automation, Daetwyler is a major supplier to the auto industry, enjoys a healthy number two position in pharma packaging and is always looking for new ways to apply their solutions.'