Key information
The DWS Concept DJE Globale Aktien invests in a global investment universe. The focus of the concentrated portfolio of 50 - 70 stocks is on finding attractively valued and substantial companies. The fund, which operates flexibly and independently of index requirements, aims to achieve the highest possible earnings and growth opportunities by actively managing the weighting of countries, sectors and individual stocks. A balanced risk/reward profile with the lowest possible maximum drawdown and comparatively low volatility is aimed for. Thanks to its structured investment approach, the fund offers global opportunities with balanced volatility.
Responsible manager since 31/03/2014
Key information
| ISIN: | DE0009777003 |
| WKN: | 977700 |
| Category: | Global Equity Funds - General |
| VG/KVG: | Deutsche Asset Management S.A. |
| Fund Manager: | DJE Kapital AG |
| Risk Category: | 5 |
| Type of Share: | accumulation |
| Financial Year: | 01.01. - 31.12. |
| Launch Date: | 03/07/1995 |
| Fund currency: | EUR |
| Fund Size (18/06/2021): | 473,74 Mio EUR |
| Ongoing Charges p.a. (31/12/2020): | 1,65 % |
| Reference Index: | MSCI World EUR (PI) |
Fees
| Initial Charge: | 5,00 % |
| All-in fee p.a.: | 1,65 % |
Ratings & Awards (18/06/2021)
| Morningstar*: |
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Awards: AAA Recognised with the top AAA rating in Citywire's fund manager ratings |
Perfomance Chart
Performance in Percent vs. Reference Index
Risk metrics |
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|---|---|
| Standard Deviation (1 years): | 14,88 % |
| Tracking Error (1 years): | 11,09 % |
| Value at Risk (99% / 20 days): | -9,08 % |
| Maximum Drawdown (1 year): | -7,56 % |
| Sharpe Ratio (1 years): | 2,08 |
| Correlation (1 years): | 0,49 |
| Beta (1 years): | 0,76 |
| Treynor Ratio (1 years): | 40,63 |
Top Country Allocation (30/04/2021) |
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|---|---|
| United States | 36,60 % |
| Germany | 20,00 % |
| China | 7,00 % |
| France | 6,80 % |
| Switzerland | 6,50 % |
Asset Allocation (30/04/2021) |
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|---|---|
| Stocks | 99,20 % |
| Cash | 0,80 % |
Investment approach
The DWS Concept DJE Globale Aktien is a global equity fund that operates independently of index guidelines. The investment strategy is based on a top-down country and sector assessment, bottom-up fundamental analyses and the individual stock selection by Dr. Jan Ehrhardt. The investment focus of the strategy is on attractively valued and substantial companies, which result from the assessment from a fundamental, monetary and market perspective (FMM method). Derivatives are actively used to hedge currency and other market risks.
Chances
- The security selection is based on a fundamental, monetary and market-technical analysis – this FMM approach has a proven track record of over 45 years
- No regional restrictions – the focus can be on any region where the performance of the capital markets is promising
- Participation in the performance of the international equity markets
Risks
- Issuer country and credit risks
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- The FMM method does not guarantee investment success
Monthly Commentary
In May, the central banks in the USA and the euro area were relaxed and maintained their expansive monetary policy despite rising consumer and producer prices worldwide. They thus prioritised financial stability over containing inflation. In addition, a very strong balance sheet season supported equity markets. Investors anticipate the first Fed rate hike in December 2022. In addition, the majority of economic indicators rose, including purchasing managers' indices in the US, China and the euro area. In this market environment, the DWS Concept DJE Globale Aktien corrected by -1.08%. Its benchmark index MSCI World declined by -0.41% in euro terms. In May, a good two-thirds of the sectors of the global equity market performed positively. The highest price gains were recorded by the credit institutions, oil & gas and financial services sectors, followed by the consumer cyclical goods and basic materials sectors. On the other hand, the retail, travel & leisure, technology and media sectors suffered losses. In May, the fund benefited primarily from performance contributions from the financial services and industrial sectors. At the individual stock level, the Bonn-based logistics company Deutsche Post, the US investment company BlackRock and the Mainz-based biotech company BioNTech performed particularly well. On the other hand, negative impulses came mainly from the information technology and cyclical consumer goods sectors. At the individual stock level, the US online mail order company Amazon, the Hong Kong laminate manufacturer Kingboard Laminates and the Chinese IT group Alibaba were particularly disappointing.
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Fund reporting
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.