LuxTopic - DJE Cosmopolitan
As at: 16/05/2013
| ISIN: | LU0185172052 |
| WKN: | A0BLYJ |
| Bloomberg: | DJELTBM LX |
| Reuters: | LU0185172052.LUF |
| Asset Class: | Balanced Funds |
| Investment Company: | DJE Investment S.A. |
| Advisor: | DJE Kapital AG |
| Risk Category: | 3 |
| Type of Share: | Accumulation |
| Financial Year: | 01/07 - 30/06 |
| Launch Date: | 07/04/2004 |
| Fund Size (30/04/2013): | 90.34m EUR |
| TER p.a. (30/06/2012): | 1.71% |
| Reference Index: | 50% Euro Stoxx 50, 35% MSCI World, 15% REX 1 year Performance Index |
Fund manager
Dr Jens Ehrhardt
| Initial Charge: | 5.00% |
| Management Fee p.a.: | 1.10% |
| Custodian Fee p.a.: | 0.09% |
| Advisory Fee p.a.: | 0.30% |
| Performance Fee p.a.: | 15% exceeding 6% rising of net asset value (high water mark) |
| Morningstar RatingTMOverall *: |  |
| Euro Fund Award 2013: | 3rd Place, Balanced Fund Mainly Equities, 5 years, Germany |
Monthly Fund Manager's Commentary
In April the LuxTopic Cosmopolitan registered an increase of +2.10% per cent; compared to its benchmark which archived +1.79%. The fund performed much better than the European equity market (STOXX 600 +1.0%). The international equity market compared to the MSCI world (EUR) suffered from a weak US dollar and was able to increase +2.2 % only. Since at the beginning of the month the inflows of fresh investors money towards USA and Japan continued, by month end the first ETF outflows were registered since 22 weeks. The Japanese equity market, on the other side, attracted further money and the Nikkei archived a five-year high. The economic data in the US cooled down. After a weak purchasing manager index at the beginning of the month, poor US job data forced a Euro eruption. Anyway, the Japanese Yen, declined further after the announcement of the BoJ to extend the bond purchasing program even to longer maturities. In China negative news predominated: a weak GDB, unpleasant industrial production figures and purchasing manager index. But also in Germany the ifo- a measure of business sentiment declined. The reporting season in the US started mixed and did not offer any special impulses. The existing portfolio positions of the Japanese automotive producer Toyota was extended - due to investment guidelines purchased in US - with a positive effect to the funds performance. Ericsson was completely sold due to the disappointing development caused by highly competitive pressure and continuing shrinking turnovers of European clients. Because of the expected rebalancing, the middle term outlooks for equities are still attractive from the valuation point of view. Altogether the trends are sound and despite respectively because of the slowdown in economic signals (monetary and fiscal stimuli more likely) viewing the year 2013 the fund management expects good opportunities in setbacks especially for high yield shares.
Legal Information / Disclaimer:
Figures subject to revision by the auditors on the reporting dates. The published information does not constitute investment advice or a recommendation, but only provides a brief summary of the key features of the fund. The current sales documents (Key Investor Information Document, prospectus, annual report and – if the annual report is older than eight months – the semi-annual report) for the respective investment funds form the sole basis for the purchase of securities. The sales documents are available at no charge at the respective fund company, the distribution company or at www.dje.de.
All data and estimates are indicative and may change at any time. This information is based on our assessment of current legal and tax regulations. The data were carefully compiled, but no guarantee can be given for the accuracy of such information. All data are subject to change.
The performance is calculated using the BVI (Bundesverband Investment und Asset Management e.V.) method, i.e. without taking into account the subscription fee. Individual expenses such as fees, commissions and other charges are not taken into account in the data and would have a detrimental effect on the performance if they were. The subscription fees payable reduce the invested capital as well as the performance depicted. Data on past performance are not a reliable indicator of future performance.
The tax treatment depends on the individual circumstances of the investor and may be subject to change. Please see the prospectus for more detailed tax information.
In connection with brokering fund units, the Dr. Jens Ehrhardt Group and its distribution partners may receive reimbursements from costs charged to the funds by the investment companies in accordance with the respective prospectuses.
The units of this fund that are issued may only be sold or offered for sale in jurisdictions in which such offer or sale is permitted. Therefore the units of this fund may not be offered for sale or sold in the USA, or offered for sale or sold to or for the account of US citizens or US persons resident in the USA.
This document and the information it contains may not be distributed in the USA. The distribution and publication of this document and the offer or sale of units may also be subject to restrictions in other jurisdictions.
*) © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.