DJE - Mittelstand & Innovation XP (EUR)
- As at:
- 160.35 EUR
- 160.35 EUR
In October the DJE - Mittelstand & Innovation rose 1.23%. Its benchmark index (30% MDAX Performance Index, 30% SDAX Performance Index, 30% SMIM Price Index, 10% AUSTRIAN TRADED ATX Index) increased 1.88%. During the period under review the fund benefited mainly from its exposure to the financial services and industrial sectors (both of which were underweight). In addition the construction & materials (slightly overweight in the fund) and healthcare (overweight in the fund) sectors also made positive contributions to the fund's performance. At the individual security level the strongest contributions to the performance came from the Frankfurt materials handling company Kion, the Munich semiconductor industry company Siltronic, the financial services company Hypoport from Lübeck and the Jena optics technology company Jenoptik. By contrast negative impetus came primarily from positions in the information technology, real estate and consumer staples sectors. Particularly disappointing results were achieved by the Munich payment services company Wirecard, the Swedish computer games group Embracer and the Würzburg printing press manufacturer Koenig & Bauer. Over the course of the month the fund management expanded its activities in the financial services, technology, media and chemicals sectors. In return it reduced its weighting in the industrial, household goods, healthcare and real estate sectors, among others. Regionally it increased the proportion of German and Austrian stocks in the portfolio. In return it reduced its exposure in Sweden and Luxembourg. Because of these adjustments the equity ratio rose from 97.63% to 99.52%.