Only four products from a sample of over 12k express certificates achieved a negative return.

Investments in express certificates lead to a significant reduction in risk compared to a direct investment, according to an analysis by Prof. Dr. Christian Koziol ( pictured ), head of the chair of finance at the Eberhard Karls University of Tübingen. The highest additional return was achieved by those express certificates that expired early at the earliest possible date -  Prof. Dr. Christian Koziol The study, which was conducted on behalf of the German association for structured