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The "entrepreneur share"

Why invest in a family holding?

And why in Maffei & Co.?

Listed family holding companies are the big exception in Germany, as most of the widely diversified entrepreneurial assets are held in unlisted companies.

However, this does not apply to other (European) countries, where some family holding companies have been listed on the stock exchange for a very long time and successfully, such as Investor AB (Wallenberg family) and Investment AB Kinnevik (Stenberg family) in Sweden, Sofina S.A. (Boël family) and GBL S.A. (Frère family) in Belgium, Peugeot Invest S.A. (Fam. Peugeot) and Bolloré SE (Fam. Bolloré) in Frankreich or Exor N.V. (Agnelli family) and CIR S.p.A. (De Benedetti family) in the Netherlands and Italy.

In 2024, the management consultancy Stryber demonstrated in a study that companies that develop new business areas over time outperform their competitors that stick to their core business in terms of stock market performance, thus dispelling the myth that concentration is difficult on the stock market on the core business is a formula for success.

Studies show that listed family businesses have a better operating performance (measured by return on assets) and a higher return on equity compared to other listed companies. See, for example, the 2019 study on listed family businesses in Germany (here as a PDF - in German) by the "Stiftung Familienunternehmen".

Freundlicher Händedruck

What makes Maffei & Co. shares attractive:

1. Maffei & Co. offers access to an attractive asset class that is only accessible to private investors to a limited extent: Entrepreneurial direct investments, which are accompanied from an early stage. The aim is to build (hidden) champions in niche markets with highly attractive margins.
 

2. Maffei & Co. is not a financial investor, but an active (co-)entrepreneur who also capital also management and technology brings in.  
 

3. Maffei & Co. is a diversified growth value, which is geared towards the clearly defined future topics of digitalization and sustainability. With all opportunities and risks, Maffei & Co. works to build market-leading companies in their respective (niche) areas.

 

4. Maffei & Co. is run by entrepreneurs, not managers. This also leads to a stable shareholder structure, as the families involved have invested a large part of their assets in Maffei & Co. over the long term.

5. Maffei & Co. has the corporate strategy “Equity for the next generation“. This means that Maffei & Co. does not publish quarterly reports, but rather pursues long-term goals. This in turn also implies that in the next few years (as long as capital can be invested in attractive companies on good terms), the focus will not be on dividend payments, but rather on building value.

Disclaimer

The information contained on this website is not intended or approved for publication or distribution to persons in the United States, Canada, Japan and Australia. This information does not constitute an offer to sell shares and is explicitly not intended for "U.S. persons" as defined in Regulation S under the U.S. Securities Act of 1933. Please note the disclaimer in the legal notice.

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