DJE - Agrar & Ernährung I (EUR)

DJE - Agrar & Ernährung I (EUR) Header Image
Minimum investment: 75,000 EUR
ISIN:
LU0350836184
As at:
15/11/2019
Bid:
171.56 EUR
Offer:
171.56 EUR

Monthly Commentary

Norwegian fish exports increased 8% in October compared to previous year. For the main product salmon export sales even rose 14% compared to the same period last year. This was partly due to China's increased interest in Norwegian fish. In the wake of African swine fever, China is currently stepping up its efforts to expand access to alternative protein sources. Since China's per capita consumption of salmon is still comparatively low significant growth can be expected in the coming years. In the medium term the latter should also have a positive effect on prices, which in the past quarter were still suffering from an increased supply from Northern Europe. Regarding Chile, the second largest salmon producer after Norway, a price stabilising supply shortage can be expected. This is supported by the political situation in Chile on one hand and the worsening sanitary situation in salmon farms on the other, which have to struggle with algae and salmon lice in the winter months. Accordingly the fund management further increased the weighting in the aquaculture sector while the fertilizer segment was reduced against the background of the weather-related uncertainties.

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.

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