Packaging Culture

Also: Verpackungskultur

Packaging culture (German: Verpackungskultur) describes the dominant practice in the investment industry of bundling assets into ever-new wrappers — funds, model portfolios, ETF baskets, certificates — instead of evaluating individual positions on their own merits. The wrapper progressively replaces substance: investors own what is in the bundle, not what they would have chosen themselves. Portfolio DOC reverses the logic — decisions follow the purpose of each position in the portfolio, not the packaging it comes in.