Key information
DJE - Multi Asset & Trends is a dynamic and globally investing multi-asset fund. The concentrated portfolio of approximately 50 to 70 individual equities and between 20 to 40 bonds is managed independently of benchmark requirements. The fund management pursues a theme-oriented approach to benefit from current and long-wave trends, including e.g. digital life, demographics and health and green technologies. In general, the strategy focuses on companies with strong substance and above-average growth opportunities combined with attractive valuations. Additional diversification is sought by investing up to 10% of the portfolio in gold. By exploiting global opportunities, the fund offers the possibility of generating an attractive performance.
Responsible manager since 23/01/2017
Key information
| ISIN: | LU0159549145 |
| WKN: | 164317 |
| Category: | Global Balanced Funds - Flexible |
| VG/KVG: | DJE Investment S.A. |
| Fund Manager: | DJE Kapital AG |
| Risk Category: | 5 |
| This sub-fund/fund promotes ESG features in accordance with Article 8 of the Disclosure Regulation (EU Nr. 2019/2088). | |
| Type of Share: | distribution |
| Financial Year: | 01.01. - 31.12. |
| Launch Date: | 27/01/2003 |
| Fund currency: | EUR |
| Fund Size (04/10/2022): | 144,41 Mio EUR |
| TER p.a. (30/12/2021): | 1,85 % |
| Reference Index: | |
Fees
| Initial Charge: | 4,000 % |
| Management Fee p.a.: | 1,600 % |
| Custodian Fee p.a.: | 0,100 % |
|
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 (04/10/2022)
| Morningstar*: |
|
|
Awards: Scope Award 2022 Best Fund in the category "Mixed Fund Global Flexible" in Austria und Switzerland Austrian Fund Award 2021 "Outstanding" in the category "Mixed funds global equity-oriented" Scope Award 2021 Best fund in the category "Mixed Fund Global Flexible" in Germany |
ESG Data
| MSCI ESG RATING (AAA-CCC): | AAA |
| ESG-Qualityrating (0-10): | 8,729 |
| Environment Rating (0-10): | 6,273 |
| Social Rating (0-10): | 5,648 |
| Governance-Rating(0-10): | 5,726 |
| ESG rating in comparison group (0% lowest, 100% highest value): | 82,120 % |
| Peergroup: |
Mixed Asset EUR Flex - Global
(1264 Fonds) |
| Coverage rate ESG rating: | 82,081 % |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 109,436 |
Report date: 30/09/2022
Perfomance Chart
Performance in Percent
Risk metrics |
|
|---|---|
| Standard Deviation (2 years): | 9,85 % |
| Tracking Error (1 years): | - |
| Value at Risk (99% / 20 days): | -6,29 % |
| Maximum Drawdown (1 year): | -15,92 % |
| Sharpe Ratio (2 years): | 0,22 |
| Correlation (1 years): | - |
| Beta (1 years): | - |
| Treynor Ratio (1 years): | - |
Top Country Allocation (30/09/2022) |
|
|---|---|
| United States | 44,50 % |
| Germany | 14,04 % |
| Japan | 4,91 % |
| France | 4,65 % |
| Denmark | 3,77 % |
Asset Allocation (30/09/2022) |
|
|---|---|
| Stocks | 69,55 % |
| Bonds | 19,60 % |
| Certificates | 8,31 % |
| Cash | 2,54 % |
Investment approach
The selection of individual stocks for DJE - Multi Asset & Trends follows a consistent bottom-up approach. This is based on fundamental factors such as market positioning, balance sheet and earnings potential, valuation, management quality and sustainability criteria. The fund management allocates the asset classes flexibly and weights the individual stocks, sectors and countries depending on the expected market situation with the aim of spreading the portfolio risk and taking advantage of the opportunities that arise. Gold is another portfolio component that is low-correlated with equities and bonds and should provide additional stability, with a quota of up to 10% of the portfolio possible. With the offensive risk-reward profile and broad diversification across different asset classes, the fund aims for attractive performance, but also comparatively 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
August showed two faces on the stock markets: Until around the middle of the month most stock exchanges were able to continue the recovery of previous month. In the second half of the month they lost what they had achieved and slipped into negative territory. The main reason for this was the appearance of U.S. Federal Reserve Chairman Jerome Powell, who declared at the annual central bank meeting in Jackson Hole (U.S.A.) a war on inflation, also at the expense of growth and the labor market. As a result market participants expected further interest rate hikes and most stock markets began to decline noticeably. The German DAX share index fell -4.81% and the broad European Stoxx Europe 600 index -5.29%. In the USA, the S&P 500 declined -2.88%. Overall, global equities as measured by the MSCI World recorded a loss in height of -2.97% in August. Nevertheless Hong Kong's Hang Seng Index posted a gain of 0.42% - all index figures in euro terms. On the international stock markets only a quarter of sectors performed positively in August. The highest price gains were recorded by the energy and insurance sectors. Weaker but still positive results were achieved by the sectors utilities, personal care & pharmaceuticals and basic materials. The sectors consumer goods & services, healthcare and technology suffered the highest losses. In this market environment the price of the DJE - Alpha Global declined -1.12%. The fund benefited in August mainly from the sectors chemicals and energy as well as stock selection in the underweighted sectors telecommunications and food & beverages. The fund price benefited also from the fact that the fund was not invested in the sectors real estate and construction & materials. At the individual stock level the highest performance contributions came mainly from the Canadian mining company Nutrien (fertilizers), the two US companies Cheniere Energy (energy) and Corteva (seeds and agrochemicals)as well as the Chinese internet company Tencent. On the other hand, the sectors basic materials, utilities and insurance were the main detractors from the fund price performance in August. Particularly disappointing at the individual stock level was the performance of the US companies Nvidia (IT, microelectronics) and Salesforce (software, CRM) as was the Danish energy group Orsted (offshore wind energy) and the Japanese personnel services company Recruit. During the month the fund management increased the weighting of the sectors financial services and technology in particular. On the other hand, it reduced the healthcare sector. Regionally it primarily increased U.S. positions and slightly reduced British stocks. The equity ratio was increased to 71.66% at the end of the month (70.65% previous month). The bond allocation remained almost stable at 18.99% (18.87% previous month). Gold certificates were reduced from 8.55% to 7.90%. The cash ratio decreased from 1.93% to 1.45%.