GoldPort Stabilitätsfonds (P)
As at: 16/05/2012
| ISIN: | LU0323357649 |
| WKN: | A0M67Q |
| Bloomberg: | GLDSAFP LX |
| Reuters: | LU0323357649.LUF |
| Asset Class: | Global Balanced Funds - Mixed Funds |
| Investment Company: | DJE Investment S.A. |
| Advisor: | DJE Kapital AG/Sub-Anlageberater W. Peinemann |
| Risk Category: | 3 |
| Type of Share: | Distribution |
| Financial Year: | 01/01 - 31/12 |
| Launch Date: | 01/04/2008 |
| Fund Size (30/04/2012): | 167.81m CHF |
| TER p.a. (31/12/2011): | 2.69% |
| Reference Index: | 33.33% Gold, 33.33% JP Morgan GBI Global unhedged ECU, 33.33% MSCI World |
Fund manager
Stefan Breintner
| Initial Charge: | 5.00% |
| Management Fee p.a.: | 1.30% |
| Custodian Fee p.a.: | 0.10% |
| Advisory Fee p.a.: | 0.40% |
Investment Strategy
GoldPort Stabilitätsfonds offers a value-oriented fund approach with a focus on various asset classes. The fund's asset management approach focuses on absolute returns and the active and dynamic management of the blend of asset classes. The asset classes held in the fund include precious metals, energy and agricultural commodities, real estate, Swiss bonds and money market instruments, inflation-linked euro bonds and defensive value stocks. Up to 30% of the fund's assets may be invested directly in physical gold. The total investment in gold (directly or indirectly through certificates) may not exceed 50%. The objective of the fund is to ensure stability in times of crisis and at the same time create opportunities for returns in normal market conditions. The fund currency is the Swiss franc.
| Morningstar RatingTMOverall *: |  |
| €uro Fund Award 2012: | 2nd Place, Balanced Funds (Equity and Bonds), 3 years, Germany |
Monthly Fund Manager's Commentary
Gold and precious metals corrected in March. The price of the fine troy ounce decreased in USD 3.18% (1,667.07 USD/oz). Calculated in CHF respectively EUR the price loss was with 3.13% resp. 3.00% (1,505.20 CHF/oz respectively 1,250.43 EUR/oz) lower due to a stronger USD tendency. Therefore the funds management reduced the gold quota during the reporting month down to 33% by month-end. The positions of the precious metal sector were expanded up to 3%. Investments in shares were the counter balance to the weak precious metals. Positive was especially the positioning into the Swiss conglomerate Conzzeta. Conzzeta published during the reporting period its last year's figures which outperformed the expectations of the analysts and gained 9% on a monthly basis. In addition the performance of the real estate title Deutsche Wohnen (+10.63%) and Swiss producer of radiators and air conditioning technology Zehnder (+9.09%) convinced. In total the equity quota of the fund was 34% by the end of the reporting period. Bought were for example titles of the energy provider E.ON, food title Unilever and Swiss real estate title PSP Swiss Property. The weighting of bonds with an excellent credit standing was 18% by the end of the month. In view of the forthcoming months the funds management will more or less maintain its weighting into the mentioned asset classes. As soon as significant sings will announce the end of the current consolidation of the gold market, the funds management will increase the gold quota. At the moment supporting for the gold assets is the poor investment optimism. In the long term a possible increase of the inflation may promote the performance of the fund. From the historical point of view, an inflationary development starts after approx. 2-3 years after an intensive growth of the money supply. Precious metals, commodities and material assets in general may obviously be the profiteers of this development.
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.