Bonafide Quarterly-Update Q4 2025

With our quarterly update as of December 31, 2025, we provide a concise overview of the performance of the Bonafide Global Fish Fund and highlight key market trends along the global Fish and Seafood value chain.

TL;DR – Key Takeaways

  • Solid quarter in a challenging environment: The Bonafide Global Fish Fund closed Q4/2025 at +2.39% (EUR) and the full year at +2.99% (EUR) - outperforming global food staples indices, which trended lower.
  • Attractive valuation and dividend base: With a P/E ratio of 12x and a dividend yield of 4.7%, the fund combines substance, steady income generation, and long-term value appreciation potential within a sustainable growth sector.
  • Structurally sound sector: Fish & Seafood remain underinvested as a future-proof protein solution; even moderate capital inflows can trigger meaningful revaluations, as the Chilean market clearly demonstrates.
  • Diversification component for 2026: Amid elevated valuations in the US technology sector and ongoing interest rate uncertainty, the fund provides a focused, globally diversified, and defensively positioned diversification opportunity with tangible cash flows.

If you are interested in finding out more about the factors influencing the quarterly performance, our views on markets such as Chile, Norway and Thailand, and the positioning of the Bonafide Global Fish Fund for 2026, please refer to the full quarterly update.

We would be pleased to discuss these insights with you in person – contact us to find out how including fish and seafood in your portfolio could strengthen it in the long term.

Quarterly update December 2025

Previous Insights

April 13, 2026

Bonafide Quarterly-Update Q1 2026

Q1 2026 highlights the resilience of focused exposure to the Fish & Seafood sector. The Bonafide Global Fish Fund delivered +3.69% (EUR), significantly outperforming both global equities and the broader food sector. Performance was driven by strong fundamentals, attractive valuations and structural growth across the value chain, reinforcing the long-term investment case for the Blue Revolution.

November 13, 2025

Bonafide at the Fondsgipfel Academy – Fish & Seafood: Markets, Demand and Controversies

Understanding global Fish & Seafood markets. At the Fondsgipfel Academy, our CIO explains why aquaculture and marine proteins rank among the most compelling investment themes of our time.

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