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DWS Concept DJE Responsible Invest FD

DWS Concept DJE Responsible Invest FD Header Image
Minimum investment: 2,000,000 EUR
ISIN:
LU2018822143
As at:
29/05/2020
Bid:
102.64 EUR
Offer:
102.64 EUR

Monthly Commentary

In April the stock markets were able to recover some of the losses of previous month. Investors reacted with relief to the declining number of new corona infections and the gradual easing of restrictions on people and trade in China, Europe and the USA. In addition, the continued very expansive monetary and fiscal policies of the major central banks and governments were positive for the markets. The start to the balance sheet season in the USA was also better than expected. On the other hand, economic indicators such as purchasing managers' indices, business climate or consumer confidence in the USA and Europe fell sharply. On the other hand, there were confident signals from China in this respect. Despite the rally on the stock markets the bond markets also developed positively. While yields on high-quality 10-year government bonds fell slightly, high-yield corporate bonds made a price jump as their yields fell sharply, by 262 basis points in Europe to 6.92% and by 139 basis points in the USA to 8.05%. Gold continued to appreciate, rising from $1,602 to $1,705 per troy ounce over the month. In this market environment the price of the DWS Concept DJE Responsible Invest increased 10.99%. On the equity side, the fund benefited primarily from its positions in the healthcare, real estate and information technology sectors. The strongest single stock contributions in April included the US online mail order company Amazon and the US holding Alphabet (Google's parent company). Regionally Asian, US and German stocks in the portfolio performed particularly well. During the month the fund management expanded its investments into the sectors industry, healthcare and technology in particular. Regionally US and Asian positions were expanded. On the other hand, Dutch, German and Italian positions were reduced slightly. As a result of these adjustments the fund's equity allocation rose from 66.07% previous month to 68.40%. The bond quota fell to 28.63% (30.85% previous month). At the end of the month stocks denominated in US and Hong Kong dollars were partially hedged

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.

*) © 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.