Following the change in investment strategy at the end of 2005, SPG shares outperformed the relevant benchmark in 2006 and 2007. However, they were unable to escape the negative trend in 2008. SPG deliberately positions itself as a small- and mid-cap portfolio based on interesting long-term macro trends. As a result of the prevailing orientation towards risk-free investment, small-cap companies in particular have been sold during the financial crisis.

SPG shares have recovered strongly during 2009. SPG's overall portfolio is currently attractively valued since the P/E ratio is lower than the total market (MSCI), with much higher growth potential. SPG shares are usually traded on the stock market at a premium to their net asset value.

SPG believes its focus on the four investment themes of Energy, Water, Healthy Living and Resource Efficiency puts it in the best possible position to experience a sustainable upturn and to be part of the growth in sustainability themes at a time of revived confidence in the financial markets.

SPG shares offer other benefits

As an SPG shareholder, you have full transparency about the company's investments and you have a say in the annual general meeting. You also have access to more in-depth information and are invited to exclusive events.