Key information
DJE - Asien invests primarily in solid companies with promising growth prospects in the Asia-Pacific region. The fund management seeks to identify investments with attractive valuations and shareholder-friendly corporate policies such as capital returns and share buybacks (total shareholder return). The fund allocation is independent from market benchmark and uses decades of experience and in-depth Asian expertise of DJE research team to deliver a positive performance.
Responsible manager since inception
Responsible manager since 15/03/2024 as co-manager
Key information
ISIN: | LU0374456654 |
WKN: | A0Q5KZ |
Category: | Fund Asia-Pacific Equity |
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: | 01/08/2008 |
Fund currency: | |
Fund Size (27/03/2024): | 88,37 Mio |
TER p.a. (29/12/2023): | 1,98 % |
Reference Index: | - |
Fees
Initial Charge: | 5,000 % |
Management Fee p.a.: | 1,650 % |
Custodian Fee p.a.: | 0,060 % |
Performance Fee p.a.: 10% of the [Hurdle: exceeding 6% p.a.] unit value performance, 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 (27/03/2024)
Morningstar*: |
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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): | 6,850 |
Environment Rating (0-10): | 5,510 |
Social Rating (0-10): | 5,757 |
Governance-Rating(0-10): | 5,152 |
ESG rating in comparison group (0% lowest, 100% highest value): | 59,090 % |
Peergroup: |
Equity Asia Pacific ex Japan
(682 Fonds) |
Coverage rate ESG rating: | 85,429 % |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 136,404 |
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 (27/03/2024) |
|
---|---|
Standard Deviation (2 years): | 13,12 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -8,87 % |
Maximum Drawdown (1 year): | -13,99 % |
Sharpe Ratio (2 years): | -0,98 |
Correlation (1 years): | - |
Beta (1 years): | - |
Treynor Ratio (1 years): | - |
Top Country Allocation (29/02/2024) |
|
---|---|
Japan | 30,46 % |
Cayman Islands | 21,57 % |
Bermuda | 7,79 % |
Hong Kong | 7,58 % |
Taiwan, Province Of China | 7,28 % |
Asset Allocation (29/02/2024) |
|
---|---|
Stocks | 96,58 % |
Cash | 3,42 % |
Investment strategy
DJE - Asien invests primarily in companies with attractive and promising business models from the Asia-Pacific region. The RCEP free trade zone (Regional Comprehensive Economic Partnership), which was established in 2020, is the largest in the world in terms of its share of global GDP and is expected to contribute to the region's dynamic growth (see chart). The fund allocation is based on our proprietary fundamental top-down (FMM methodology) and bottom-up analysis. We believe that the combination of global macroeconomic analysis along with bottom-up security selection is essential to balance opportunities and risks. The focus of the fund is companies with attractive revenue and earnings growth, stable earnings, potential for innovation and a leading competitive position. The fund management allocates across regions, countries, and sectors of the Asian economic area, independent from any market benchmarks.
Chances
- Excellent demographic developments make long-term growth in investments in Asia possible
- The conditions for expansion in many Asian domestic economies, such as China, continue to exist
- Traditionally higher dividend payments mean that the fund can take advantage of the compounding effect of reinvested dividends
Risks
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- Currency risks resulting from a high proportion of foreign investments
- Issuer country and credit risks
Monthly Commentary
The Asian stock markets put in a largely pleasing performance in February. The stock exchanges in China, Japan, Taiwan and South Korea were among the strongest performers. By contrast, the stock exchanges in Singapore and Thailand closed the month with a moderately negative result. The Asian stock markets benefited in part from the positive momentum in the US and European equity regions, partly due to the ongoing enthusiasm surrounding the topic of artificial intelligence and the associated dominance of Asian semiconductor stocks. The "friendshoring" factor is likely to continue to play a role for the Japanese and South Korean markets. In China, on the other hand, the purchasing managers' index for services recovered, while that for manufacturing remained in recessionary territory. The majority of experts expect the annual meeting of the People's Congress at the beginning of March to set a growth target of 5% for 2024, as it did for the previous year, which is likely to be accompanied by stimulus measures in light of the crisis in the property sector. Against this market backdrop, the DJE - Asien rose by 4.19%. The sub-sectors of the Asian investment region showed a positive picture in February. The sectors that performed best in relative terms - i.e. with the smallest price losses - were healthcare (underweighted in the fund), consumer staples (underweighted in the fund) and consumer discretionary (overweighted in the fund). The weakest results came from the financial services (underweight in the fund), energy (underweight in the fund) and construction & materials (overweight in the fund) sectors. Overall, the sector weighting had a positive effect on the fund's price performance compared to the benchmark index. At the individual stock level, the highest performance contributions came from the Japanese semiconductor manufacturer Tokyo Electron, the Chinese e-car company Li Auto and the Taiwanese semiconductor group Taiwan Semiconductor Manufacturing Company. On the other hand, the fund's performance was negatively impacted by the telecommunications company KDDI, the brewery Asahi Group Holding and the trading company Itochu (all three Japan), among others. The fund management made moderate adjustments to the fund's sector allocation. The overweight was increased in the chemicals and property sectors. The overweight in the insurance, consumer goods and industrial goods sectors was reduced. The underweight was reduced in the technology, automotive manufacturers and financial services sectors. The underweight was increased in the telecommunications, food and commodities sectors. At country level, the proportion of Chinese and Taiwanese stocks increased, while the proportion of Japanese stocks fell. The investment ratio fell slightly to 96.58% (previous month: 98.32%). At the end of the month, stocks denominated in Hong Kong dollars were currency-hedged against the US dollar.