Switch to German


Important notes and conditions of use

In order to access our homepage, you must confirm that you have read and understood the contents of the following legal information and that you accept them. Please read the following important notes and terms of use.

For professional investors only

Our website is aimed exclusively at professional customers within the meaning of the German Securities Trading Act (Section 31a par. 2 WpHG), but is not meant for private customers. By accepting the important notices and terms of use, the user declares that he is a professional customer.

Dissemination of information/sales restrictions

These Internet pages are aimed at persons who have their domicile in the Federal Republic of Germany. The dissemination of the information contained herein and the acquisition of shares of the fund referred to here may be prohibited in certain countries. The information is therefore in no way directed at persons or entities in a sovereign territory (due to nationality, place of residence or registered office or for any other reason) in which the publication, dissemination or use of this information violates local laws or regulations, or in which ARIAD Asset Management GmbH would be subject to registration or licensing requirements, and will not be provided for distribution in such sovereign territories. You must find out about any restrictions of this nature in your territory, observe them and declare by accepting these important notices and conditions that you have done so.

Information for US citizens

The information contained on these Internet sites is not intended for distribution in the USA or to US citizens (this applies to persons resident in the United States of America, as well as to persons and corporations established under the laws of that country).

No offers

The information and materials provided serve informational purposes only and do not constitute a public solicitation for subscriptions, or an offer to sell financial instruments, or a solicitation for offers to purchase financial instruments.

No advice

The information and materials provided serve information purposes only and do not constitute any advertising, recommendation, financial or other advice. The individual investment objectives, experience, risk propensity and financial condition of the users of these Internet sites cannot be considered. The information in no case supersedes advice and investment advice. Investments in financial instruments involve risks. Past performance is not a reliable indicator of future results. The only valid basis for the acquisition of shares in investment funds is their current sales prospectus with their contractual terms in conjunction with their respective latest audited annual report and semi-annual report if t5he date of the latter is more recent than that of the last annual report or key investor information. You may obtain these documents from the respective management company or custodian bank as well as from the paying agencies.


ARIAD Asset Management GmbH will not be liable for any loss or damage of any kind or cause whatsoever that may arise wholly or partly from the use of this website, the failure or unavailability of access to this website or any linked sites, or any act or omission of any other party involved in the preparation of this website or the information provided to you, whether or not the circumstances leading to such loss or damage might have been influenced by ARIAD Asset Management GmbH or ARIAD Asset Management GmbH was aware of the possibility of loss or damage. ARIAD Asset Management GmbH seeks to update the content of this website and ensure its correctness. The content is based on sources that we consider reliable. Nevertheless, ARIAD Asset Management GmbH does not assume any warranty or guarantee for the correctness, completeness, accuracy, topicality, quality or availability of the content and materials displayed on this website.


The graphics, documents, video sequences and texts contained on this website are protected by copyright. Any reproduction or use of these media, in particular in other electronic or printed publications, is not permitted without the written consent of ARIAD Asset Management GmbH.
Use and dissemination of personal data
If you provide us with personal data, we shall use it only to answer your questions. You have the right to revoke your consent with effect for the future at any time. We do not share this information with other companies for advertising purposes.

Applicable law and legal effect

These important notices and terms of use, in particular the disclaimer, are to be regarded in the context of the Internet posting in which reference was made to this section. Should parts or individual formulations of this information prove to be legally invalid or become so in future, the content and validity of the remaining parts of this notification shall remain unaffected. ARIAD Asset Management GmbH is governed exclusively by German law.


"The war of the future is the war of IP."
Wen Jiabao, former Premier of the People's Republic of China

A patent is a securitised right of ownership that assures a company a monopoly on a technology within a limited period of time. With this monopoly, the owner supports his competitive position, secures future market shares and uses the invention to increase earnings and thus increase long-term corporate value. The value of a patent portfolio is therefore a reference to success potential.

The value of a patent-protected technology is influenced by a variety of factors, but can usually only be inadequately determined by means of classical valuation methods due to its immaterial nature. International Accounting Directives forbid most of the activation in the balance sheet of time-intensive, intensive research and development work, based on patent-protected technologies. In addition, technologies are generally not ready-for-sale products, and cannot be transferred directly into standard and evaluable price / quantity frameworks for the required cash-flow determination with regard to valuation questions.

Nevertheless, it is important to note that investments in intangible assets are steadily increasing and the market value of a large number of companies is decisively determined by intangible assets, in particular patent-protected technologies.

On the basis of its global patent database (more than 80 million patents from more than 70 countries), ARIAD has developed objective and scientifically based analytical methods that allow a statistical evaluation of available patent information for commercial purposes. The analytical methods allow for a sound and objective benchmarking from a technological point of view. ARIAD creates, on request, differentiated analyses on the quality of patent portfolios and the technological positioning of companies. The following results are obtained from ARIAD IP Consulting:

  • Innovative capacity
  • Competitive positioning
  • Future earnings and development perspectives

The patent indicators developed by us also allow the identification of new ...

  • technology trends
  • technology markets
  • market participants/competitors.

The analytical methods and results are independent of internal company information. Thus the data are not manipulable and provide objective and reproducible values for decision-makers and investors.