About us

Averdas combines quantitative investment research, alternative data, and institutional investment expertise to make productivity-related investment themes measurable and understandable. We work with institutional investors, asset managers, and strategic partners to develop research, factor frameworks, and investment solutions for a changing financial environment.

Meet the Team

Ruth Schönleber

Member of the Board, Partner 

Ruth Schönleber

Ruth Schönleber

Member of the Board, Partner 

Ruth Schönleber brings over 30 years of expertise in digital transformation, marketing, and corporate management. As a founding partner and board member of innovative companies like Averdas AG, Invenum GmbH, and ALPORA AG, she develops forward-looking strategies in marketing, sales, and operations. Her career includes leadership roles at Hewlett-Packard and BMC Software, where she excelled in sales, strategic partnerships, and customer management. She has also served as a board member in the tourism sector. With a degree in Business Informatics (FH) and fluency in English, Ruth is a highly regarded consultant and leader in digital business models, innovation management, and strategic planning. An avid sailor and skier, she enjoys spending time with her ambitious hunting dog.

Prof. Dr. Leo Brecht

Member of the Board, Partner

Prof. Dr. Leo Brecht

Prof. Dr. Leo Brecht

Member of the Board, Partner

Prof. Dr. Leo Brecht is a mathematician and economist with a PhD in mathematical statistics and a professorship in innovation and technology management at the University of Liechtenstein. With over 20 years of experience in management consulting and applied research, and more than 10 years in investment management, he is a leading expert in the fields of innovation, technology and product management. Leo Brecht has supported more than 100 projects for SMEs and multinational companies in various industries, from strategic consulting to technology assessments. He is also the founder of ALPORA, where he and his team have developed innovative investment products that have led to over €700 million in assets under management. Over the last ten years, he has given more than 1,000 investor presentations. He was a partner at Andersen and Arthur D. Little, the author of several books and a conference speaker. As an active investor and serial entrepreneur, he is particularly involved in the FINTECH, SUSTTECH and EDUTECH sectors. In his free time, Leo Brecht is a passionate regatta sailor and skier and enjoys spending time with his family.

Markus Breuer

Member of the Board 

Markus Breuer

Markus Breuer

Member of the Board 

Markus Breuer lives and works in Zug and the surrounding area. With his many years of experience as a board member, he passionately supports companies in the fields of strategic and business management. He is currently pursuing a CAS Board of Directors program at the Lucerne University of Applied Sciences and Arts (HSLU). Privately, Markus is married and the father of two adult children. Markus is passionate about cooking and enjoys good wine in the company of friends and family.

Ramon Hörler

Partner

Ramon Hörler

Ramon Hörler

Partner

Ramon Hörler brings a robust background in sustainable finance and portfolio management, grounded in both academic research and industry practice. As a Research Assistant and PhD candidate at the Chair of Sustainable Finance & Investments at the University of Liechtenstein, he examines the impact of sustainable regulations and disclosure requirements on financial markets. Previously, he worked for an independent asset manager—first as a Portfolio Management Intern and then as a Junior Portfolio Manager—where he produced fund factsheets, portfolio reports, and Investment Committee materials, maintained due-diligence files, and conducted AML transaction controls. Earlier in his career, he served as an Investment Advisor at a Swiss cantonal bank, leading customer acquisition, product-development projects, and investment-tool operations. He holds an MSc in Finance and a BSc in Business Administration and applies a structured, data-informed approach to analysis. Proficient in MS Office and R, he combines quantitative rigor with a keen understanding of regulatory reporting and risk-control processes. Outside of finance, Ramon competed as a professional handball player in Switzerland’s Nationalliga A for eight years, where he honed teamwork, strategic thinking, and resilience. He is passionate about skiing and road cycling, relishing both the technical demands of steep alpine terrain and the endurance challenges of long-distance rides.

Dr. Djordje Zivkovic

Partner

Dr. Djordje Zivkovic

Dr. Djordje Zivkovic

Partner

Dr. Djordje Zivkovic brings a robust background in strategy and finance, grounded in academic excellence and practical consulting experience. As a postdoctoral researcher at leading institutions such as the University of St. Gallen and the University of Liechtenstein, he applies analytical thinking and strategic foresight to the evolving intersection of strategy, innovation, and finance – among other areas, in the context of factor-based investing and modern asset management. His professional experience includes strategic consulting and financial advisory, where he leveraged financial analysis to support the development of data-informed strategies and decision-making approaches for corporate clients. He holds a doctorate (summa cum laude) in Business Economics and a Master of Arts in Accounting and Finance. Recognized for his academic achievements and data-driven approach, he has been awarded for outstanding research receiving the Best Dissertation Award from the Government of Liechtenstein and being selected to participate in the prestigious Lindau Nobel Laureate Meeting in Economic Sciences. As a passionate chess player and multiple-time Munich youth champion, he also enjoys football and tennis- balancing intellectual rigor with athletic discipline.

Advisory Board

Prof. Dr. Kirill Welz

Member of the Advisory Board

Prof. Dr. Kirill Welz

Prof. Dr. Roland Eckert

Member of the Adviory Board

Prof. Dr. Roland Eckert

Mirko Petonciano

Member of the Adviory Board

Mirko Petonciano

Max Wensing

Member of the Adviory Board

Max Wensing

Dr. Petar Pelemis

Member of the Advisory Board

Dr. Petar Pelemis

Pascal Tschuetscher

Member of the Advisory Board

Pascal Tschuetscher

Averdas Mission & Vision |
Innovative Insights for Financial Decision Makers


Averdas develops quantitative research and investment solutions across factors, funds, valuation, and ventures.

More About Averdas

01

Our Mission

Our mission is to make productivity-related investment themes measurable and understandable. We combine alternative data, quantitative models, and investment research to help institutional investors assess structural efficiency, operational capability, and resilience in companies and markets.

02

Our Vision

Our vision is to establish productivity as a clearly defined and researchable investment theme. We aim to contribute to a more transparent understanding of structural change, innovation, and capital allocation through rigorous research and systematic investment frameworks.

03

Strategic Methodology

Averdas combines alternative data, quantitative methods and structured research processes to study productivity-related characteristics of companies and markets. Depending on the product or research question, the analysis may include operational, financial, technological and resource-related information. The methodology, data sources and limitations are defined in the relevant product or research documentation.

04

Commitment to Excellence

We are committed to rigorous research, transparent methods, and high-quality communication. Where we work with academic or research partners, the relevant collaboration, methodology, and publication status should be described accurately and with appropriate attribution. Our objective is to develop research and investment solutions that are clearly documented, testable, and relevant for institutional decision-making.

Contact Averdas

Icon right

Growth Story

Explore key milestones in the development of Averdas, from innovation research and investment products to the current focus on productivity, quantitative research, and institutional solutions.