Notice
Details

This website uses cookies

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.

Cookie Policy

What are cookies?

A cookie is a small text file that a website stores on your computer or mobile device when you visit the site.

  • First party cookies are cookies set by the website you're visiting. Only that website can read them. In addition, a website might potentially use external services, which also set their own cookies, known as third-party cookies.
  • Persistent cookies are cookies saved on your computer and that are not deleted automatically when you quit your browser, unlike a session cookie, which is deleted when you quit your browser.

Every time you visit our websites, you will be prompted to accept or refuse cookies. The purpose is to enable the site to remember your preferences (such as user name, language, etc.) for a certain period of time. That way, you don't have to re-enter them when browsing around the site during the same visit.

Cookies can also be used to establish anonymised statistics about the browsing experience on our sites.

How do we use cookies?

Currently, there are four types of cookies that may be generated as you browse our site: Strictly Necessary, Statistics, Preference and Marketing cookies.

1. Strictly Necessary Cookies

These cookies are essential for you to browse the website and use its features, such as accessing secure areas of the site. Cookies that allow web shops to hold your items in your cart while you are shopping online are an example of strictly necessary cookies. These cookies will generally be first-party session cookies. While it is not required to obtain consent for these cookies, what they do and why they are necessary are explained in the table below.

How do I control Strictly Necessary Cookies?

You can use your browser settings to control whether or not we set session cookies. More information on your browser settings is provided at the bottom of this page.

Please be aware that these cookies are critical to the efficient working of the site. If you choose to disable these cookies from this site, the functionality of the site may be greatly reduced.

2. Statistics Cookies

Also known as "performance cookies," these cookies collect information about how you use a website, like which pages you visited and which links you clicked on. None of this information can be used to identify you. It is all aggregated and, therefore, anonymized. Their sole purpose is to improve website functions. This includes cookies from third-party analytics services as long as the cookies are for the exclusive use of the owner of the website visited.

Statistical information is used in reports and to improve our site. For example, we have used analytics data to add, remove or change features of the site based on how popular they are with users.

We track, for example:

  • the numbers of visitors to individual pages;
  • when pages were visited;
  • how long users stayed on the page;
  • the IP address of the user of the website;
  • the page they came from;
  • technical data about the device being used to browse the site (such as browser and operating system version, and display size) — we use this data to ensure that the technology our site uses is appropriate for the majority of our users, and how best to display the site for users who have less capable browsers.

More information about Statistics cookies

We use cookies from different partners including Google to provide our analytics data. You can read more about how Google Analytics treats your data on their web site. You can also read Google's full privacy policy.

How do I control Statistics cookies?

Google provides a tool to opt-out of Google Analytics. This is available for all modern browsers in the form of a browser plugin. Additionally, you can control how cookies are set using your browser settings.

3. Preference cookies

Also known as "functionality cookies," these cookies allow a website to remember choices you have made in the past, like what language you prefer, whether you have accepted our cookie policy, what region you would like weather reports for, or what your user name and password are so you can automatically log in.

4. Marketing cookies

The advertisements you see displayed on this, and other, sites are generated by third parties. These services may use their own anonymous cookies to track how many times a particular ad has been displayed to you and may track your visits to other sites where their ads are displayed. Please note that advertisers can only track visits to sites which display their ads or other content. This tracking is anonymous, meaning that they do not identify who is viewing which ads.

Tracking in this manner allows advertisers to show you ads that are more likely to be interesting to you, and also limit the number of times you see the same ad across a wide number of sites. As an example of how advertisers operate, if you recently researched holidays, adverts for holiday operators may subsequently appear on our sites.

We do not have access to, or control over, these third party cookies; nor can we view the data held by these advertisers. Online advertisers provide ways for you to opt-out of your browsing being tracked. More information about the advertisers we use, and how to opt-out, is provided below.

Youtube

We display clips from Youtube related to our purchase opportunities. You can view Youtubes's privacy policy on their website. This page also allows you to control what cookies YouTube saves on your computer.

Google

We work with Google to optimise how Google ads are displayed. You can discover how Google protects your privacy relating to ads at its privacy policy.

Cookies you may see used on konvi.app

Cookie name Default expiration time Purpose Description
_fbp 3 months Marketing cookies Facebook: to store and track visits across websites.
_ga 2 years Statistics cookies Google Analytics: to store and count pageviews.
_gat_UA-* 1 minute Statistics cookies Google Analytics: functional
_gid 1 day Statistics cookies Google Analytics: to store and count pageviews.
_iub_cs-* 1 year Preferences cookies iubenda: to store cookie consent preferences.
euconsent-v2 1 year Preferences cookies To store cookie consent preferences.
referrerReferralId 1 browser session Strictly necessary cookies Track user referrals
t_gid 1 year Marketing cookies Taboola: assigns a unique User ID that allows Taboola to recommend specific advertisements and content to this user
APISID 2 years Marketing cookies Youtube: Google Ads Optimization
HSID 2 years Marketing cookies Youtube: to provide fraud prevention
LOGIN_INFO 2 years Marketing cookies Youtube: to store and track visits across websites.
PREF 2 years Marketing cookies Youtube: to store and track visits across websites.
SAPISID 2 years Marketing cookies Youtube: Google Ads Optimization
SID 2 years Marketing cookies Youtube: to provide ad delivery or retargeting, provide fraud prevention.
SIDCC 1 year Marketing cookies Youtube: to provide ad delivery or retargeting, provide fraud prevention.
SSID 2 years Marketing cookies Youtube: to provide ad delivery or retargeting, provide fraud prevention.
VISITOR_INFO1_LIVE 1 year Strictly necessary cookies Youtube: to provide bandwidth estimations.
YSC 1 browser session Marketing cookies Youtube: to store a unique user ID.
__Secure-1PAPISID 2 years Marketing cookies Youtube: Google Ads Optimization
__Secure-1PSID 2 years Marketing cookies Youtube: to provide ad delivery or retargeting, provide fraud prevention.
__Secure-3PAPISID 2 years Marketing cookies Youtube: Google Ads Optimization
__Secure-3PSID 2 years Marketing cookies Youtube: to provide ad delivery or retargeting, provide fraud prevention.
__Secure-3PSIDCC 1 year Marketing cookies Youtube: to provide ad delivery or retargeting, provide fraud prevention.
IDE 1.5 years Marketing cookies doubleclick: serving targeted advertisements that are relevant to the user across the web.
RUL 1 year Marketing cookies doubleclick: serving targeted advertisements that are relevant to the user across the web.
variant 1 browser session Strictly necessary cookies For providing targeted content to users
cookie_consent 1 year Strictly necessary cookies For persisting cookie consent
1P_JAR 1 month Marketing cookies Google: optimize advertising, to provide ads relevant to users
NID 1 month Marketing cookies Google: to provide ad delivery or retargeting, store user preferences

Removing cookies from your device

You can delete all cookies that are already on your device by clearing the browsing history of your browser. This will remove all cookies from all websites you have visited.

Be aware though that you may also lose some saved information (e.g. saved login details, site preferences).

Managing site-specific cookies

For more detailed control over site-specific cookies, check the privacy and cookie settings in your preferred browser

Blocking cookies

You can set most modern browsers to prevent any cookies being placed on your device, but you may then have to manually adjust some preferences every time you visit a site/page. And some services and functionalities may not work properly at all (e.g. profile logging-in).

Further help

If you still have any concerns relating to our use of cookies, please contact us at support@konvi.app

Allow all cookies
Use necessary cookies only
Konvi logo
🇫🇷
🇪🇺 EUR
🇬🇧 GBP
🇫🇷 EUR
🇩🇪 EUR
🇮🇹 EUR
🇸🇬 SGD
🇭🇰 HKD
🇦🇪 AED
🇴🇲 OMR
🇨🇭 Franken
🇨🇭 Franc
🇨🇭 Franco
Se connecter / S'inscrire
← Retour à la liste des articles

Time to retire for the 60/40 rule: modern allocation turns alternative

Guest Author
12.9.2022

luxury Watches

With a new world (and new finance) emerging from the return of persistent inflation and preparing to face an expected recession, some argue that the 40/60 portfolio rule has finally reached retirement age. In its place, a new 'modern' portfolio finds its way, in which 30% is allocated to alternative investments. Among these are collectible goods, including watches, vintage cars, wines, and spirits, far more than mere "passions" when considered investment goods. We spoke with Ioana Surdu-Bob, co-founder of Konvi, the first pan-European crowd-investment platform that allows small investors to own fractions of alternative assets such as watches.

It is well acknowledged by the market the concept of asset diversification. However, if it is pretty simple to think how to integrate bonds or equity, how can an investor integrate alternative assets?

In the last few years, investors have been searching for methods to build different alternative asset allocations by themselves, moving forward from the traditional 60% equity and 40% bonds. In addition, investment guidelines are evolving with the markets within the context of high inflation, slow economic growth, geopolitical turmoils, and a less globalized world.

For instance, research by the New York-based private equity firm KKR has shown how a modern portfolio consisting of 40% equity, 30% bonds, and 30% alternative investments enhances returns and reduces volatility in contexts of high inflation.

A large budget has been necessary for a long time to build a diversified alternative asset portfolio. As alternative assets are all non-traditional investments, many asset classes fit in the alternative bucket, such as startup investments, private equity, private debt, real estate, or exotic assets/collectibles - Konvi's focus.

To invest in most alternative assets, investors must allocate a large amount of upfront capital, usually €50,000 or more. Konvi, for instance, offers access to fractional investments in watches, wine, and other collectibles starting from only €250.

Such collectibles, so-called exotic assets, are a grand entry to alternative assets for regular investors due to multiple factors. Firstly, unknown assets are an inflation hedge because they are tangible assets whose prices are going up with inflation; secondly, they present a low correlation to traditional investments; and lastly, they offer higher average historical returns than traditional investments.

What’s the model proposed by Konvi in this context? What about its benefits compared to direct (and solo) purchases of alternative assets?

Direct purchases of alternative assets can be very costly - one may invest €100,000+ to purchase a high-quality alternative asset. Moreover, access to investment-grade assets requires industry connections. If one does not have deep knowledge about the asset class they are investing in, there is also a high risk of choosing the wrong asset (or, even worse, fake). Investing in Konvi has three benefits: diversification, reduced risk & increase safety, and access.

Firstly, Konvi enables any investor to participate in watch and wine investments valued at €100,000+ from only €250. Furthermore, the low entry barrier helps customers to reduce risk by participating as co-owners in multiple investment opportunities. Customers can therefore achieve diversification within the exotic assets space.

Secondly, Konvi is also the preferred option from a safety perspective. Konvi operates as a three-sided marketplace connecting retail investors with world-leading suppliers through holding companies. Once investing in a funding project, Konvi's customers become shareholders in a holding entity (SPVs, special purpose vehicles) whose whole purpose is to purchase, manage for 3-5 years, and sell one asset. Through the holding entity, Konvi's investors become real co-owners of the asset - Konvi or the supplier does not own it, therefore offering the customers maximum safety.

Lastly, the assets are selected by pre-screened leading asset suppliers (such as WatchFund, CultWines), which purchase and securely store the asset. As a result, Konvi's suppliers have access to the most exclusive investments with a high appreciation potential purchased directly from the producer (primary market), often under the retail price. A great example of a watch purchased by the Konvi community is the RRP $500,000 Cartier Extra Large Tortue High Complication Platinum, of which only 15 exist in the world.

The assets funded on Konvi always have a predetermined holding period between 3 to 5 years. Of course, as a customer, you may choose the length based on your personal financial goals. But, it is guaranteed that the holding period for each project is ideal, as the supplier always chooses the assets best fit for the predetermined holding period. Remember that some asset classes, such as cars or watches, may work with shorter periods of 3-5 years, while assets like art or whisky may require 5-10 years holding periods.

Art and the vast majority of collectibles are usually renowned to be illiquid investments. However, with respect to “traditional” investing, much of the attention is given to long-term themes, or megatrends, that recommend a holding period of 5-10 years or longer (think about sustainability, for example). So, how does the market respond to alternative assets in this context?

It is recommended that exotic assets be held for more extended periods spanning multiple years because of their exclusivity. The longer these assets are not available on the market, the higher the monetary value associated with them will be. Therefore most investors seriously investing in exotic assets prefer long-term investing to maximize returns. While the reason may differ, many investors invest for the long term for retirement or kids' education. Such investors build a diversified portfolio, including stocks, bonds, and alternative investments (including exotic assets).

While it is possible to invest in alternative assets for the short term, exiting through secondary markets may be risky as such investments are not widely traded. Therefore, it is generally preferred to consider the asset locked for a set period, and of course, if an early exit opportunity arises, take advantage of it.

You come from a background of traditional investing. Why go into alternative ones besides passion?

I've always invested in alternative investments from an analytical rather than a passion perspective. Besides traditional investments such as ETFs, I added various alternative investments to my portfolio. I invested in real estate due to the potential appreciation and low-interest rates at the time. I invested in peer-to-peer loans to yield profits regularly. At the same time, I dollar-cost-average a tiny amount with Ethereum to avoid losing the potential opportunity within the crypto space. I sought exotic assets such as watches and handbags but did not have access due to the high cost of these items.

In this context, my co-founder (and life partner) and I saw the vast opportunity to make fractional investments possible within the exotic assets space and set ourselves to build a European-wide solution. In addition, we're working hard to bring awareness to portfolio allocation and wealth building. Besides a crowdfunding platform, Konvi now launched 'Discover', a community where our 20,000+ users can discuss investment strategies - Join us for free!

Note: this article only engages the opinion of its author and does not constitute financial advice.

About the author

Giulia Bacelle is Branded content editor & Project manager at WeWealth, the most important Fintech in the wealth management field in Italy. It’s a fast-growing business based in Milan, created by asset managers and digital experts in financial markets. The original article is available at the following link.

Parlez-en à vos amis

Obtenez des informations sur le marché des objets de collection.

Se connecter / S'inscrire