LuxTopic - PACIFIC (P)
As at: 16/05/2012
| ISIN: | LU0188847478 |
| WKN: | A0B9GB |
| Bloomberg: | DJEPACI LX |
| Reuters: | LU0188847478.LUF |
| Asset Class: | Asia/Pacific Equity Funds - General |
| Investment Company: | DJE Investment S.A. |
| Advisor: | DJE Kapital AG / Sub-Anlageberater Lutz Kihm |
| Risk Category: | 4 |
| Type of Share: | Accumulation |
| Financial Year: | 01/07 - 30/06 |
| Launch Date: | 07/04/2004 |
| Fund Size (30/04/2012): | 197.20m EUR |
| TER p.a. (30/06/2011): | 2.02% |
| Reference Index: | 100% MSCI Pacific ex Japan |
Advisor and Sub-Advisor
Dr. Jens Ehrhardt and Lutz Kihm
| Initial Charge: | 5.00% |
| Management Fee p.a.: | 1.40% |
| Custodian Fee p.a.: | 0.10% |
| Advisory Fee p.a.: | 0.40% |
| Performance Fee p.a.: | Performance fee of 10% p.a. of rising of net asset value (high water mark). |
Investment Strategy
The investment focus of LuxTopic - PACIFIC is on stocks that pay good dividends and have solid balance sheets. The fund may invest in all of Asia as well as in companies that generate a substantial portion of their business in Asia. Investments range from companies that produce in Asia for the export market to companies domiciled outside Asia, but which realise a considerable proportion of their income in the region. The fund invests primarily in small and mid caps. Shares of larger companies are also part of the investment mix. The fund maintains a high level of equity investments in all market phases.
| Morningstar RatingTMOverall *: |  |
| Deutscher Fondspreis 2011: | Place 2, Equity Asia/Pacific with Japan, 5 Years, Germany |
Monthly Fund Manager's Commentary
Hong Kong's economy is doing fairly well despite a somewhat lackluster external trade and relative slow growth of the Chinese economy. The latter increased by 8.1% in 1Q 2012 from 8.9% in 4Q 2011. This is the weakest pace in nearly 3 years. Hong Kong's total exports of goods fell 1.5% in 1Q 2012 while the value of imports of goods increased by 0.7%. The property market regained momentum. The number of sale & purchase agreements for all building units received for registration in March was 14,306 an increase of +164% versus February and +6% year on year. The total consideration was HKD 74.8bn (+177% MoM and +7.9% YoY). The HKD loan-to-deposit ratio of Hong Kong's banks fell to 81.4% at end-February from 83.4% a month ago. The unemployment rate has remained at 3.4%. The rate of increase of consumer prices has slowed down to 4.9% YoY in March after a 5.4% increase in the first 2 months of the year. The positive results reported by our companies earlier on in the year helped to support their share prices while the market in general consolidated its gains made in the first quarter.
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 (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.
*) © 2012 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.