Christoph Hilfiker, a fund manager with LLB Asset Management AG, responsible for European Research and Equity Management pitched three companies he likes for their wide moats. In his at the 2025 Value Investing Seminar, he detailed his value investing philosophy centered on identifying and investing in companies protected by enduring competitive advantages - what he terms "moats". But first his full bio.
Christoph, born 1970 in Basle/Switzerland, is serving as a senior fund manager with LLB Asset Management AG (ASM) in Vaduz/Principality of Liechtenstein. With more than 45 employees, and around $120B in AUM, LLB is the largest Asset Manager in Liechtenstein.
He's responsible for the European Research and the Equity Management and is running the investment fund LLB Aktien Europa ESG (EUR). Prior to joining LLB Asset Management AG, he was leading the European Equity Management at Münchener Kapitalanlage AG/Munich.
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He’s the author of articles in several magazines like Fundresearch, The Smart Investor, The European Value Investor, Trends in Asset Management and Euro. Christoph studied business law at the University of St. Gallen (HSG) and completed his education with an MBA at the European Business School (ebs). Beside this, he shares his ideas at the Privatinvestor.tv and the Cyprus Value Investor Conference. He earned his CFA qualification in 2006. From 1994 until 1998, Christoph was serving as a captain in the Swiss Air Force. In his spare time, he likes flying, sailing and mountain hiking.
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2025 Value Investing Seminar: LLB Asset Management AG's Christoph Hilfiker
The Enduring Power of the Moat
Hilfiker defines a moat as a company's sustainable competitive advantage that shields it from competition and ensures its profits remain sustainable. In today's volatile market and economy, he considers its even more important to invest in protected businesses. He lists seven different types of moats a company can posess:
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