Julius Baer has launched its Luxury Brands Fund – a theme fund that gives private investors access to a portfolio of carefully chosen, first-class luxury goods manufacturers. The fund is managed by Scilla Huang Sun, a specialist in the luxury goods market. She was behind one of the first luxury brand funds launched in Switzerland by Clariden Bank and was recruited by Julius Baer from Clariden Leu last year, where she managed the Clariden Leu Luxury Goods Equity Fund. The Luxury Brands Fund will invest in luxury firms that secure and build on their competitive position with an excellent brand, high-quality products and constant product innovation. Julius Baer regards this market segment as an attractive, strategic area of investment on the capital markets for the next one to three years under the general heading of “wealth & health”. "The spending habits of the wealthy are often not influenced by macroeconomic factors. Their decision as to whether or not to buy a luxury item depends mainly on whether they like it rather than how quickly or slowly the economy is growing," said the bank in a statement. "This is why the luxury goods industry has in the past shown much less of a reaction to slowing economic growth than other cyclical consumer goods. The expected economic slowdown worldwide, especially in the US, will affect luxury goods, but almost certainly to a lesser extent than other sectors."