Key information
The DJE Gold & Stabilitätsfonds combines various asset classes in an investment strategy aimed at absolute return. The fund invests in precious metals, short-term bank deposits, equities from the sectors basic materials, health care, utilities, real estate, telecommunication and agriculture as well as in Swiss companies and investment grade government bonds. It may also invest in corporate bonds from the above-mentioned sectors. Up to 30% of the fund may invest in physical gold. The total investment in gold (directly or indirectly through certificates) may not exceed 49% of the fund’s assets. The objective of the fund is to generate a steady return. The fund’s currency is the Swiss Franc. However, the fund is managed from a Euro investors perspective, so the performance in Euro is taken into account.
Responsible manager since 01/01/2010
Key information
ISIN: | LU0323357649 |
WKN: | A0M67Q |
Category: | Fund CHF Moderate Allocation |
VG/KVG: | DJE Investment S.A. |
Fund Manager: | DJE Kapital AG |
Risk Category: | 3 |
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: | 01/04/2008 |
Fund currency: | |
Fund Size (26/03/2024): | 197,96 Mio |
TER p.a. (29/12/2023): | 1,77 % |
Reference Index: | - |
Fees
Initial Charge: | 5,000 % |
Management Fee p.a.: | 1,550 % |
Custodian Fee p.a.: | 0,070 % |
Performance Fee p.a.: 10% of the unit value development, but no more than 2.5% of the average net fund assets in the accounting period, insofar as the unit value at the end of the accounting period exceeds the unit value at the end of the previous accounting periods. The accounting period begins on 1 January and ends on 31 December of a calendar year. The first accounting period begins on 1.4.2021 and ends on 31.12.2022. Payment is made at the end of the accounting period. For further details, see the sales prospectus. |
Ratings & Awards (26/03/2024)
Morningstar*: |
|
Awards: Best Asset Manager 2023 Place 5 out of 557 funds in the category "Dynamic" in the ranking of Wirtschaftswoche and MMD |
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): | 7,088 |
Environment Rating (0-10): | 6,209 |
Social Rating (0-10): | 5,417 |
Governance-Rating(0-10): | 5,892 |
ESG rating in comparison group (0% lowest, 100% highest value): | 25,580 % |
Peergroup: |
Mixed Asset CHF Flexible
(43 Fonds) |
Coverage rate ESG rating: | 62,084 % |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 179,221 |
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 (26/03/2024) |
|
---|---|
Standard Deviation (2 years): | 7,45 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -4,87 % |
Maximum Drawdown (1 year): | -5,09 % |
Sharpe Ratio (2 years): | -0,36 |
Correlation (1 years): | - |
Beta (1 years): | - |
Treynor Ratio (1 years): | - |
Top Country Allocation (29/02/2024) |
|
---|---|
United States | 64,82 % |
Germany | 7,54 % |
France | 3,07 % |
Switzerland | 2,92 % |
Japan | 2,85 % |
Asset Allocation (29/02/2024) |
|
---|---|
Stocks | 37,92 % |
Bonds | 30,71 % |
Commodities | 29,90 % |
Cash | 1,47 % |
Investment strategy
The main focus of the DJE Gold & Stabilitätsfonds is gold investments. For generations, gold has been considered a reliable hedge against losses arising from economic crises and in times of rapid inflation. The portfolio also includes dividend-yielding equities, with defensive business models for low-risk diversification. The fund management selects primarily companies with a good asset base, and which have a proven-track record of stable performance even in volatile market phases. In fixed income, the fund only invests in bonds with investment grade ratings. The investment strategy of the DJE Gold & Stabilitätsfonds fund is flexible to adapt to constantly changing market conditions. Foreign currency risks may be hedged.
Chances
- Attractive initial investment level for global dividend and value stocks
- Under-investment by private and institutional investors and emerging market central banks with strong foreign currency reserves in the asset class of gold
- Investments in gold should have additional potential given the precious metal’s role as a monetary stabiliser in politically, socially and economically uncertain times
Risks
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- Investment in physical precious metals is subject to fluctuations
- Price risks for bonds, particularly when interest rates on the capital markets rise
- Currency risks resulting from the portfolio’s foreign (non-EUR) investments
Monthly Commentary
The DJE Gold & Stabilitätsfonds rose by 1.48% in the fund currency, Swiss francs, in February. Calculated in euros, the fund fell by -0.76% as the Swiss franc depreciated against the euro. The troy ounce of gold only rose moderately in price in February, but ended the month above the psychologically important mark of USD 2,000. On a monthly basis, the price of gold increased by +0.23% to USD 2,044.30 per troy ounce in USD and by +0.35% to 1,890.95 in EUR. Central bank purchases continue to provide important support for gold prices. Elsewhere, rising geopolitical tensions in the Middle East and Ukraine are likely to support demand for safe havens. However, the most important influencing factor in the next few months is likely to be the further development of monetary policy in the USA. Comments from the Federal Open Market Committee continued to suggest that a cycle of interest rate cuts could begin in the US, although this would not come into effect until the second half of the year. Gold has usually performed above average during phases of falling interest rates. The gold quota remained almost unchanged at 29.50% (previous month: 29.57%). As in the previous month, the fund benefited primarily from its equity quota. The global stock index MSCI World (including dividends) rose by 4.51%. Most MSCI subsectors performed positively in February. The consumer discretionary, industrials (both underweight in the fund) and financial services (overweight in the fund) sectors performed relatively best, i.e. with the highest price gains. The utilities sector (underweight in the fund) performed the worst in relative terms, i.e. with the highest price loss. Overall, the fund's sector allocation had a neutral impact on the fund's performance compared to the global stock index. On the equity side, the highest performance contributions came, among others, from the positions of the two US companies Nvidia (technology) and Amazon (e-commerce), as well as the Japanese semiconductor manufacturer Tokyo Electron. On the other hand, the positions of the Norwegian oil and gas company Equinor, the German real estate company Vonovia and the US software company Adobe, among others, had a negative impact. The fund management increased the fund's equity quota slightly from 35.92% to 37.92%. Due to the broad rise in yields across almost all types of bonds, the bond portfolio weighed on the fund's performance. The broad global bond index Barclays Global Aggregate Total Return fell -1.26% in USD terms. The fund management reduced the bond ratio slightly from 32.71% to 30.71%. The fund's liquidity at the end of the month was 1.47% (previous month: 2.10%).