Technology — The Secular Megatrend
Global Liquidity Signal
QE · Policy · Rates
FRAMONT — Your Regulatory Backbone
Ride technology’s megatrend — on the tide of global liquidity. Step aside before it recedes.
A tactical Exchange Traded Instrument that takes active, signal-driven exposure to leading technology — scaling up with leveraged instruments when global liquidity is expanding, and moving decisively to cash or short when it contracts. Portfolio Manager: Dr. Chris Kacher, PhD. Structured & managed by FRAMONT & Partners Management Ltd, MFSA-authorised AIFM, Malta.
The strategy uses leveraged instruments and is concentrated in the technology sector. All performance figures referenced on this page are historical backtests and simulations (2008–2026); they do not represent actual trading and are not indicative of future performance. Capital is at risk. Read the KID before investing.
📄 Download the Key Information Document (KID) ↓
The Tech Megatrend Tactical ETI is an Exchange Traded Instrument that expresses a single, powerful idea — technology is the defining growth engine of our era — but expresses it tactically. Rather than holding through every cycle, the strategy scales exposure up and down with the global liquidity regime.
When central-bank liquidity is expanding and price action confirms, the strategy deploys into leading leveraged technology instruments (TECL, TQQQ, QQQ). When liquidity contracts, it shifts decisively to cash — or short — aiming to sidestep the deep drawdowns that punish buy-and-hold leveraged exposure.
The methodology was developed by Dr. Chris Kacher, a former senior portfolio manager at William O’Neil + Co. The ETI is issued by iMaps ETI AG, listed on Börse Stuttgart, and structured and managed by FRAMONT & Partners Management Ltd, an MFSA-authorised AIFM.
Request Full Information →Exchange Traded Instrument (ETI) — listed on Börse Stuttgart, tradable via standard brokerage accounts. ISIN DE000AMC0D85.
iMaps ETI AG, Liechtenstein. iMaps also acts as market maker, providing continuous bid/ask liquidity on the exchange.
FRAMONT & Partners Management Ltd — MFSA-authorised AIFM under AIFMD II, Malta. Structured the ETI and is responsible for portfolio management and regulatory oversight.
Dr. Chris Kacher, PhD — nuclear physicist and former senior proprietary portfolio manager at William O’Neil + Co.
Portfolio executed via Interactive Brokers — global regulated brokerage with robust investor protections and real-time reporting.
Experienced retail and institutional investors who understand leveraged instruments, accept high volatility and possible total loss, and have a medium-to-long term horizon.
The strategy combines top-down macro analysis — global liquidity, central-bank balance sheets, policy rates, yields and QE/QT flows — with bottom-up price and volume confirmation from leading indices and stocks. It is rules-driven, not discretionary, and trades infrequently: typically just 0–6 major position changes per year.
Macro liquidity sets the regime. Price and volume confirm the entry. The signal — not sentiment — positions the portfolio.
The model reads the macro liquidity regime (central-bank balance sheets, M2, policy rates, yields, QE/QT) to decide whether risk should be on or off, and uses price and volume of leading indices and stocks to confirm. In confirmed expansion it takes amplified exposure to leading technology ETFs; in contraction it moves to cash, or short, to protect capital. There is no machine learning and no high-frequency trading — the edge is regime discipline.
Central-bank balance sheets, M2 and net liquidity are the primary engine of risk appetite. Expansion favours leveraged technology exposure; contraction triggers capital preservation.
Policy stance and the direction of yields define the regime. Accommodative policy and net easing support risk-on; restrictive policy and tightening force a defensive shift.
Bottom-up confirmation from leading indices and stocks — the O’Neil discipline. Macro and technical signals must align before capital is committed.
The model resolves to one tactical stance, changing just 0–6 times a year: leveraged long in expansion, cash in transition, and cash or short in contraction.
The strategy methodology is proprietary. The framework above is simplified for presentation. No description on this page constitutes investment advice or a recommendation.
The strategy expresses a secular thesis — semiconductors, software, AI and cloud compounding for decades — through liquid, exchange-listed instruments, scaling exposure up or down with the liquidity regime.
Primary engine: 3× daily leveraged US technology. Deployed only in confirmed expansion phases, when liquidity and price action align.
3× daily Nasdaq-100. Broad large-cap technology and growth exposure used to amplify confirmed risk-on regimes.
Unleveraged Nasdaq-100, used to moderate exposure or to remain invested during transitional regimes with reduced risk.
In contraction the model holds cash or takes short exposure, aiming to sidestep the deep drawdowns that punish leveraged buy-and-hold.
The strategy has been backtested across 2008–2026 in two configurations: a Long/Cash method that rotates between leveraged technology and cash, and a Long/Short method that also takes short exposure in contractions. Results are presented exclusively as historical backtests — not actual investment performance — and must not be read as a guarantee of future results.
Curves show the hypothetical compounding of €10,000 at the backtested CAGR on a logarithmic axis; they illustrate compound growth, not the month-to-month path, and are not actual returns. The dashed markers indicate where the model moved defensive ahead of the 2018 and 2022 declines.
Strategy vs Leveraged Buy & Hold †| Metric · 2008–2026 backtest | Long / Cash | Long / Short | Leveraged Tech — Buy & Hold |
|---|---|---|---|
| CAGR | 60.84% | 81.7% | Reference |
| Cumulative return | 4,077× | 35,802× | Reference |
| 2018 Q4 tech sell-off | Moved to cash | Cash / short | ≈ −60.2% |
| 2020 COVID-19 crash | Moved to cash | Cash / short | ≈ −77.9% |
| 2022 rate-shock bear | Moved to cash | Cash / short | ≈ −80.1% |
| Major position changes / yr | 0–6 | 0–6 | 0 · always invested |
† Backtest Disclaimer: All results are based on historical backtests and simulations on data from 2008–2026 using leveraged instruments. Backtested performance does not represent live trading and does not include all real-world costs, slippage, or financing effects of leverage. Live results may differ materially. The buy-and-hold (“B&H”) drawdown figures refer to a leveraged-technology reference position, not the strategy. Past results are not a guarantee of future performance. Leverage amplifies losses. Capital is at risk — you may lose some or all of your investment.
“The biggest returns come from the losses you don’t take. Liquidity tells you when to be aggressive — and when to step aside.”Tech Megatrend Tactical ETI · Strategy Philosophy
The ETI is structured with clear separation between strategy, portfolio management, issuance, execution and market-making functions.
The liquidity-timed tactical methodology, developed by Dr. Chris Kacher, former senior proprietary portfolio manager at William O’Neil + Co. Dr. Kacher acts as Portfolio Manager.
MFSA-authorised AIFM that structured the ETI and provides portfolio management implementation and regulatory oversight under AIFMD II.
Liechtenstein-based issuer. iMaps also serves as market maker, providing continuous secondary-market liquidity. Listed on Börse Stuttgart.
Global regulated brokerage providing trade execution, custody and real-time reporting for the ETI’s underlying portfolio.
| Name | Tech Megatrend Tactical ETI |
| ISIN | DE000AMC0D85 |
| Instrument Type | Exchange Traded Instrument (ETI) |
| Listed Exchange | Börse Stuttgart |
| Issuer / Market Maker | iMaps ETI AG, Liechtenstein |
| Structurer & PM | FRAMONT & Partners Management Ltd |
| Portfolio Manager | Dr. Chris Kacher, PhD |
| Brokerage | Interactive Brokers |
| Underlying | TECL, TQQQ, QQQ, cash, short |
| Minimum Investment | €1,000 |
Indicative only. Please refer to the Key Information Document (KID) and prospectus for the full, legally binding costs and charges breakdown.
| Management Fee | 1.0% p.a. |
| Performance Fee | 20% (with High-Water Mark) |
| Entry Fee (iMaps) | 0.50%–1.00% (based on AuM) |
| Exit Fee (iMaps) | 0.50%–1.00% (based on AuM) |
| Ongoing Charges | Refer to KID & Prospectus |
Dr. Chris Kacher is the Portfolio Manager of the Tech Megatrend Tactical ETI. He holds a PhD in Nuclear Physics and a BS in Chemistry from the University of California, Berkeley, where he studied under Nobel Laureate Glenn T. Seaborg, helped discover element 110 (Darmstadtium) and confirmed element 106, which his team named Seaborgium.
In 1996 he joined William O’Neil + Co., the institutional research firm, rising to senior research analyst and senior proprietary portfolio manager. He is the co-author of several best-selling trading books, including Trade Like an O’Neil Disciple: How We Made 18,000% in the Stock Market (Wiley), and co-founder of Virtue of Selfish Investing.
His methodology fuses disciplined price/volume analysis — the O’Neil heritage — with a macro overlay driven by global liquidity and central-bank policy. That fusion is the foundation of the Tech Megatrend strategy.
2008 — Global Financial Crisis: Central-bank balance sheets contracted globally and credit markets froze. The model’s liquidity signal (L) surged well above 1.0, triggering a risk-off shift. In the backtest, the strategy moved to cash or short, avoiding the catastrophic drawdown that buy-and-hold leveraged technology positions suffered. This is illustrative backtest behaviour, not actual trading.
2009–2017 — QE Bull Market: The Federal Reserve and other major central banks embarked on successive rounds of quantitative easing. Liquidity (L) remained consistently below 1.0. The model maintained a risk-on stance throughout, deploying into leveraged technology ETFs (TECL, TQQQ, QQQ) and compounding exposure during the strongest bull market in technology history.
2018 — Q4 Tech Sell-off: The Fed accelerated its tightening cycle through 2018. The model’s liquidity signal rose above threshold and the strategy moved to cash or short ahead of a leveraged-technology drawdown of approximately −60.2% on a buy-and-hold basis. Sidestepping this loss was the single largest contributor to the backtested compounding advantage.
2020 — COVID-19 Shock: The pandemic triggered a sharp, brief liquidity contraction (risk-off signal) followed by one of the most aggressive QE programmes in history. The model moved defensive early then re-entered as liquidity flooded back in, capturing a significant portion of the subsequent technology rally through 2021.
2022 — Rate Shock Bear Market: The fastest Fed hiking cycle in four decades drained liquidity sharply. The model’s signal rose above 1.0 in early 2022 and the strategy moved to cash or short, avoiding the leveraged-technology drawdown of approximately −80.1% on a buy-and-hold basis. This is the second largest single-event contributor to the backtested compounding advantage.
2023–2026 — AI-Led Recovery: With disinflation progressing and central banks pivoting, global liquidity began re-expanding. The model shifted back to risk-on, capturing the AI-driven technology rally through TECL, TQQQ and QQQ positions. This phase accounts for a significant portion of recent backtested gains and reflects the strategy’s current posture in the illustration.
In compliance with MiFID II product governance, this leveraged, sector-concentrated ETI is designed for a specific target market. Please review carefully before considering any investment.
The Tech Megatrend Tactical ETI has been assessed under MiFID II product governance requirements. The positive target market includes retail and professional clients who understand the nature and risks of leveraged Exchange Traded Instruments, have a risk tolerance consistent with the product’s high-risk profile, and have an investment objective compatible with a systematic tactical strategy. The negative target market includes investors who require capital protection or cannot sustain losses. Distributors must perform their own target-market assessment. This information does not constitute a personal recommendation or investment advice.
Because the ETI is listed on Börse Stuttgart, investing is straightforward — no complex subscription documents or lock-up periods. The instrument trades like a share, under ISIN DE000AMC0D85.
Before taking any action, obtain and carefully read the Key Information Document (KID) and the prospectus. These contain essential information about risks, leverage, costs, and the nature of the instrument. Contact FRAMONT to obtain them.
Consider whether this leveraged ETI is appropriate for your financial situation, objectives, risk tolerance, and experience. If in doubt, consult a licensed, independent financial adviser before proceeding.
The ETI is tradable through standard brokerage accounts with access to Börse Stuttgart. Search ISIN DE000AMC0D85, or contact your broker or FRAMONT for access information.
Place your order through your brokerage. iMaps ETI AG acts as market maker. Entry/exit fees of 0.50–1.00% apply; management fee 1.0% p.a. and 20% performance fee with HWM. Full breakdown in the KID. Capital is at risk.
As structurer and Portfolio Manager, FRAMONT brings MFSA authorisation, AIFMD II compliance, independent oversight, and institutional-grade regulatory infrastructure to the Tech Megatrend Tactical ETI.
FRAMONT & Partners Management Ltd is authorised by the Malta Financial Services Authority (MFSA) as an Alternative Investment Fund Manager under AIFMD II. Full EU regulatory standing.
FRAMONT structured the ETI and acts as Portfolio Manager, implementing the strategy and ensuring the portfolio complies with the instrument’s investment guidelines and applicable regulations at all times.
Independent Compliance Officer, Risk Manager, and Investment Committee provide ongoing oversight. AML/KYC, regulatory reporting, and MFSA filings are fully managed.
FRAMONT operates under Malta’s MFSA framework — a full EU member-state regulator. AIFMD II compliance provides a high standard of investor protection under European law.
Institutional-grade operational infrastructure — depositary, fund administration, audit, and reporting platforms — supports transparent, robust management of the ETI’s portfolio.
Beyond this ETI, FRAMONT operates an MFSA-authorised platform for AIFs, AMCs, and ETIs. Learn more at framontmanagement.com.
FRAMONT & Partners Management Ltd brings institutional-grade regulatory infrastructure, MFSA authorisation, and full AIFMD II compliance to every instrument under its management. Contact us for the KID, prospectus, and all official documentation.
This website is a marketing communication only and is not an official source of instrument documentation. All official information must be obtained through FRAMONT & Partners Management Ltd.
The PRIIPs-compliant KID contains essential information about the nature, risks, costs, and potential gains and losses, including the impact of leverage. You must read it before making any investment decision.
Download KID PDF ↓The full prospectus details the ETI’s structure, investment policy, fees, risks, issuer, and all terms and conditions. Issued by iMaps ETI AG and available through FRAMONT.
Request from FRAMONT →ISIN DE000AMC0D85, listed on Börse Stuttgart, with iMaps ETI AG as issuer and market maker. For the trading ticker and NAV information, contact FRAMONT.
Contact FRAMONT →This is a high-risk, leveraged product. The following is a non-exhaustive summary of key risks. Please read the Key Information Document (KID) and prospectus for the complete risk disclosure.
The strategy uses leveraged instruments such as 3× daily ETFs (TECL, TQQQ). Leverage amplifies losses as well as gains, and daily-reset leverage is subject to volatility decay that can erode value in choppy or sustained-down markets.
The strategy is concentrated in the technology sector and a small set of instruments. A sustained decline in technology, or failure of the megatrend thesis, may cause significant losses with no offsetting diversification.
The value of the ETI depends on the strategy’s positioning. Market moves not anticipated by the liquidity signal — including sharp reversals and whipsaws — may result in losses.
The strategy relies on a systematic model. Models may fail in live markets. Backtested results are historical simulations only, do not include all real-world costs and leverage financing, and are not indicative of future performance.
Although iMaps ETI AG acts as market maker, under abnormal market conditions the bid/ask spread may widen materially or secondary-market liquidity may be reduced.
The underlying instruments are predominantly USD-denominated. Exchange-rate fluctuations between USD and an investor’s base currency may adversely affect returns.
The ETI is subject to counterparty and operational risk from its service providers, including iMaps ETI AG, Interactive Brokers, and other counterparties.
Changes in applicable laws, regulations, or tax treatment may adversely affect the ETI, its structure, the availability of leveraged instruments, or returns to investors.
The risks listed are a non-exhaustive summary for informational purposes only. They do not replace the official risk disclosures in the Key Information Document (KID) and the prospectus. Please read those documents carefully before any investment decision. Past performance, including backtested results, is not a reliable indicator of future results. Leverage amplifies losses. Capital is at risk.
Key facts about the Tech Megatrend Tactical ETI for investors and financial professionals.
Contact FRAMONT & Partners Management Ltd directly to obtain the Key Information Document (KID), the prospectus, and all official instrument documentation for ISIN DE000AMC0D85.
To request the KID, prospectus, and subscription information, contact FRAMONT directly. All official documents are provided exclusively through FRAMONT & Partners Management Ltd.
gianluigi.montagner@framontmanagement.com →For distribution partnerships, institutional enquiries, or information on the FRAMONT EU Investment Vehicles platform — including launching your own regulated fund — visit our main site.
www.framontmanagement.com →Dragonara Business Centre, 5th Floor
Dragonara Road, San Ġiljan STJ 3141
Malta, European Union
Tel: +356 20105592
Are you an investment manager looking to launch a regulated EU fund, AMC, or ETI? FRAMONT’s MFSA-authorised platform enables launch in 30–60 days. Contact us to explore structures.
Learn About EU Vehicles →Download the PRIIPs-compliant KID for ISIN DE000AMC0D85. You must read it before making any investment decision. This document contains essential information about the nature, risks, costs, and potential gains and losses of this product, including the impact of leverage.
Download KID PDF ↓