DJE - Mittelstand & Innovation PA (EUR)
- As at:
- 140.92 EUR
- 147.97 EUR
In August the value of the DJE - Mittelstand & Innovation fell -2.18%. Its benchmark index (30% MDAX Performance Index, 30% SDAX Performance Index, 30% SMIM Price Index, 10% AUSTRIAN TRADED ATX Index) lost -1.61%. On one hand the oil & gas, technology (where the fund was significantly overweight), healthcare (where the fund had a higher weighting) and commodities (where the fund was underweight) sectors affected the fund's performance. The Hamburg-based biotechnology company Evotec, the Koblenz-based software company Compugroup Medical and the Zurich-based asset management company GAM delivered particularly disappointing results. On the other hand, the fund benefited in August above all from its exposure to the slightly overweighted utility sector and the stock selection in the slightly underweighted real estate and telecommunications sector. Stock selection in the heavily underweighted industrial sector also provided further positive impetus. Viewing individual titles the strongest contribution to the performance came from the Berlin food online trader HelloFresh, the wind power company PNE from Cuxhaven and the Hamburg solar and wind power plant operator Encavis. During the month the fund management reduced its exposure primarily in the technology and healthcare sector. In return it increased its weighting in the real estate, household goods and media sector. Regionally it increased the proportion of German stocks in its portfolio. In return, it reduced its investments particularly in Switzerland. Because of these adjustments the equity ratio fell slightly from 97.19% in previous month to 96.93%.