Key information
DJE - Multi Asset & Trends is a dynamic global multi-asset fund. The diversified portfolio of approximately 50 to 70 equities and between 20 to 40 bonds is managed independent from any benchmark. The fund management pursues a thematic approach to benefit from current and long-term trends, including digital transformation, demographics & health, and clean technologies. The strategy targets companies with stable business models and above-average growth prospects, combined with reasonable valuations. Additional diversification is achieved by investing in up to 10% of the portfolio in gold. The fund seeks to exploit global opportunities to generate an attractive performance.
Responsible manager since 23/01/2017
Key information
ISIN: | LU0159549145 |
WKN: | 164317 |
Category: | Mixed funds dynamic World |
VG/KVG: | DJE Investment S.A. |
Fund Manager: | DJE Kapital AG |
Risk Category: | 4 |
This sub-fund/fund promotes ESG features in accordance with Article 8 of the Disclosure Regulation (EU Nr. 2019/2088). | |
Type of Share: | |
Financial Year: | 01.01. - 31.12. |
Launch Date: | 27/01/2003 |
Fund currency: | |
Fund Size (15/03/2024): | 292,15 Mio |
TER p.a. (29/12/2023): | 1,86 % |
Reference Index: | - |
Fees
Initial Charge: | 4,000 % |
Management Fee p.a.: | 1,600 % |
Custodian Fee p.a.: | 0,060 % |
Performance Fee p.a.: 10% of the unit value development, provided the unit value at the end of the settlement period is higher than the highest unit value at the end of the previous settlement periods of the last 5 years [High Water Mark Principle]. The settlement period begins on 1 January and ends on 31 December of a calendar year. Payment is made at the end of the accounting period. For further details, see the sales prospectus. |
Ratings & Awards (15/03/2024)
Morningstar*: |
|
Awards: Scope Award 2023 Best Fund in the category "Mixed Fund Global Flexible" in Switzerland |
All ESG information presented here relates to the fund portfolio shown and is sourced from MSCI ESG Research, a leading provider of environmental, social and governance analysis and ratings.
MSCI ESG RATING (AAA-CCC): | A |
ESG-Qualityrating (0-10): | 7,013 |
Environment Rating (0-10): | 5,996 |
Social Rating (0-10): | 5,368 |
Governance-Rating(0-10): | 5,791 |
ESG rating in comparison group (0% lowest, 100% highest value): | 43,390 % |
Peergroup: |
Mixed Asset EUR Agg - Global
(431 Fonds) |
Coverage rate ESG rating: | 88,780 % |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 116,460 |
Portfolio allocation according to ESG rating of individual securities
Report date: 29/02/2024
- is proprietary to Morningstar and/or ist content providers may not be copied or distributed and is not warranted ob e accurate, complete or timely. Neither Morningstar nor ist content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Perfomance Chart
Performance in Percent
Risk metrics (15/03/2024) |
|
---|---|
Standard Deviation (2 years): | 9,22 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -5,80 % |
Maximum Drawdown (1 year): | -4,20 % |
Sharpe Ratio (2 years): | 0,18 |
Correlation (1 years): | - |
Beta (1 years): | - |
Treynor Ratio (1 years): | - |
Top Country Allocation (29/02/2024) |
|
---|---|
United States | 40,50 % |
Germany | 13,10 % |
Japan | 9,95 % |
France | 3,89 % |
Italy | 3,33 % |
Asset Allocation (29/02/2024) |
|
---|---|
Stocks | 66,74 % |
Bonds | 22,28 % |
Certificates | 6,00 % |
Cash | 4,98 % |
Investment strategy
The asset allocation of the DJE - Multi Asset & Trends fund follows a consistent bottom-up approach. It is based on fundamental factors such as market positioning, balance sheet and earnings potential, valuation, management quality, and sustainability criteria. The fund management takes a flexible approach to asset classes and allocates across sectors and countries with the aim of managing risk and capitalising on opportunities that arise. Gold is an asset class that has a low correlation with equities and bonds and provides additional stability; it can represent up to 10% of the fund. With the growth-oriented risk-reward profile and broad diversification across different asset classes, the fund aims for attractive returns combined with low volatility.
Chances
- The cash quota (up to 49%) can be used flexibly in order to cushion difficult market phases as much as possible.
- Equities enable participation in the growth opportunities of the global equity markets independently of benchmark index specifications.
- Flexible addition of bonds (up to 50%) and other securities such as certificates on precious metals (up to 10% gold) possible.
- Offensive, theme-oriented, global multi-asset fund with ongoing adjustment of its portfolio to the expected market situation.
Risks
- Bonds are subject to price risks when interest rates rise, as well as country risks and the creditworthiness and liquidity risks of their issuers.
- In the case of securities not denominated in euros, there is a currency risk for euro investors.
- An investment in precious metals is subject to fluctuations in value.
- Share prices can fluctuate relatively strongly due to market, currency and individual value factors.
Monthly Commentary
The stock markets maintained their momentum from the previous month in February and performed very favourably. The German share index DAX reached a record high and rose by 4.58%. The broad European index Stoxx Europe 600 was slightly weaker with a gain of 1.84%. The broad US S&P 500 index was significantly stronger, rising by 5.66% and topping 5,000 points for the first time. The biggest gain in February came from the Far East: Hong Kong's Hang Seng Index climbed by 6.97%. Overall, equities, as measured by the global MSCI World, rose by 4.60% - all index figures in euro terms. A key performance driver behind this was the continuing enthusiasm of the markets around the topic of artificial intelligence. Added to this were mostly good quarterly figures, robust data from the US labour market and rising purchasing managers' indices in the US, which signal an expansive economy. However, the US inflation data was higher than expected, meaning that the US Federal Reserve still had no reason to cut interest rates. In the eurozone, on the other hand, inflation continued to fall and only the Purchasing Managers' Index for services left the recessionary zone. By contrast, its counterpart for the manufacturing industry sank even lower. Experts believe that the ECB may cut its key interest rate for the first time in June. It was noticeable on the bond markets that expectations of interest rate cuts were already premature at the beginning of the year. Yields on high-quality government and corporate bonds rose noticeably. At 2.41%, 10-year German government bonds yielded 25 basis points higher, while their US counterparts were 34 basis points higher at 4.25%. The price of a troy ounce of gold rose by 0.23% to USD 2,044.30. Against this backdrop, the DJE - Multi Asset & Trends rose by 1.37%. Most sectors within the global equity index MSCI World performed positively. The biggest gains came from the retail, automotive, media and technology sectors. By contrast, the basic materials, telecommunications and food & beverages sectors performed negatively. The fund benefited in particular from its exposure to the retail, chemicals and insurance sectors, while the utilities, energy and telecommunications sectors, among others, had a negative impact on performance. The strongest individual stocks in the portfolio included Coinbase Global, a US trading platform for cryptocurrencies, Tokyo Electron, a Japanese manufacturer of machines for the semiconductor industry, and NVIDIA, a US developer of graphics processors. The weakest results came from TechnoPro, a Japanese temporary employment agency specialising in the technology sector, the Japanese electronics group Sony and the Norwegian energy group Equinor. The fund management adjusted the fund's equity allocation slightly and increased the weighting of the chemicals, consumer goods & services and retail sectors in particular. In return, it reduced the technology, insurance and healthcare sectors, among others. The equity allocation fell from 68.01% to 66.74% as a result of the adjustments. The bond portfolio was unable to make a positive contribution to performance due to the broad rise in yields on almost all bond types. The fund management reduced the bond ratio moderately from 23.56% to 22.28%. The certificate ratio fell from 6.30% to 6.00%. As a result of the allocation adjustments, the fund's liquidity increased from 2.13% to 4.98%.