The question of how returns can still be achieved is likely to concern quite a few investors.

It must be more than 10 percent, given the double-digit inflation rate.

A year has now come to an end in which the markets did not contribute to positive real interest rates.

The best fund from Deka has a return of at least 20 percent.

And he is highly specialized – in commodity stocks.

That's enough for an increase in assets if you factor in the costs of the fund in addition to inflation.

The best fund from Union Investment still brings a return of more than 10 percent with an investment strategy that is also geared towards energy – albeit with different instruments.

If you wanted to double your wealth, you had to rely on a highly specialized US fund with energy stocks.

Diversification, sectoral and geographic spread of risk: no money could be made from this last year.

The global stock index MSCI ACWI lost almost 13 percent in 2022.

Investors needed the right nose.

And what does that mean for the year that has just begun?

You will only know that in 365 days.

Because as it says so beautifully in the fund prospectus: "Investors are advised that past performance does not allow any conclusions to be drawn about future performance." Any other statement would be pure speculation.