DJE - Mittelstand & Innovation PA (EUR)
- As at:
- 141.50 EUR
- 148.58 EUR
In June the DJE - Mittelstand & Innovation rose 4.56%. Its benchmark index (30% MDAX Performance Index, 30% SDAX Performance Index, 30% SMIM Price Index, 10% AUSTRIAN TRADED ATX Index) increased 4.60%. In June the fund benefited particularly from the strong performance of the overweight information technology sector and the slightly underweight of the financial services sector. In addition stock selection in the less weighted industrial sector also made a valuable contribution to the fund’s performance. For individual stocks the strongest contributions to the performance came from the London semiconductor manufacturer Dialog Semiconductor, the Munich Internet mail order company Zooplus and the technology network Hypoport based in Berlin. On the other hand performance was slowed by stock selection in the real estate and basic consumption sectors. The Luxembourg real estate company Ado Properties, the Munich construction project developer Instone Real Estate and the Düsseldorf housing company Leg Immobilien delivered particularly disappointing results. During the month the fund management increased its commitment above all in the industrial sector. In return it reduced the weighting of the real estate sector. Regionally it increased the proportion of German and Swiss stocks in its portfolio. In return it reduced its exposure in Luxembourg. As a result of these adjustments the equity exposure rose from 96.0% previous month to 99.3%.