- DJE - Equity Market Neutral Europe XP (EUR)
- DJE - Equity Market Neutral Europe PA (EUR)
DJE - Equity Market Neutral Europe XP (EUR)
- As at:
- 95.24 EUR
- 95.24 EUR
In April, the STOXX 600 was again able to gain more than 3% and is now up 17.6% after dividends in the current calendar year. In such strong market phases it tends to be more difficult for market-neutral products to generate positive returns and so the DJE - Equity Market Neutral Europe - also suffered a price decline of -0.40% in April. However while in March it was mainly the defensive sectors that provided the rising market in April it was the cyclicals. The European automotive sector rose first and foremost 0.5%. Fortunately the fund is highly invested here and was also able to outperform this result through stock selection. The same applies to the construction sector which at the end of the month was 7.3% higher than at the beginning of the month. However, the fund allocation was too defensive expressed by underweights in banks and industry. Both sectors saw their prices rise by more than 8% in April which had a significant impact on the fund's performance. Although defensive sectors were unable to outperform the market as a whole, stock selection in these sectors made a positive contribution to fund performance. The portfolio beta remains just under 0.9.