Key information
DJE - Alpha Global 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 (21/10/2021): | 194,49 Mio EUR |
| TER p.a. (30/12/2020): | 2,20 % |
| Reference Index: | |
Fees
| Initial Charge: | 4,000 % |
| Management Fee p.a.: | 1,600 % |
| Custodian Fee p.a.: | 0,100 % |
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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 (21/10/2021)
| Morningstar*: |
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Awards: 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 |
Top Country Allocation (30/09/2021) |
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|---|---|
| United States | 37,70 % |
| Germany | 15,67 % |
| France | 9,22 % |
| Denmark | 4,73 % |
| Switzerland | 4,65 % |
Asset Allocation (30/09/2021) |
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|---|---|
| Stocks | 79,93 % |
| Bonds | 12,99 % |
| Certificates | 4,53 % |
| Cash | 2,55 % |
Investment approach
TThe selection of individual stocks for DJE - Alpha Global 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
- Participation in the growth opportunities of global stock markets
- The selection of securities is based on fundamental, monetary and market analysis - this FMM approach has a proven track record of over 45 years
- Flexible admixture of bonds and other securities such as certificates on precious metals possible
- Almost equally weighted selection of the best investment ideas of the DJE research team
Risks
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- Issuer country and credit risks as well as currency risks
- Proven investment approach to date is no guarantee of future investment success
- Price drops in the money and capital markets when interest rates rise
Monthly Commentary
September was a weak month for the global equity markets. The German DAX index and the broad European Stoxx Europe 600 index fell -3.63% and -3.41% respectively. The losses were somewhat smaller on the other side of the Atlantic: The S&P 500 index slipped -2.81%. Hong Kong's Hang Seng Index lost -3.20%. Overall global equities, as measured by the MSCI World corrected by -2.34% - all index figures in euro terms. The headwinds on the stock markets were caused by a combination of problems that overshadowed the still positive economic environment and so fare good company figures: the difficulties of the Chinese real estate group Evergrande burdened the stock market in China, which was in any case the target of government regulatory intervention. Supply bottlenecks affected production in the industrialized countries and rising commodity prices caused persistent inflationary pressure. This increased market participants' concerns that the US Federal Reserve (Fed) might adopt a more restrictive course sooner than expected. In this market environment the price of the DJE - Alpha Global fell -3.44%. In September only three sectors of the global equity market performed positively. The highest price gains were recorded by the energy sector. The credit institutions and automotive sectors also posted good results. All other sectors suffered losses. The largest declines were recorded in the sectors basic materials, construction & materials and utilities. The fund benefited in September from its investments in to the underweight sectors of energy, automobiles and credit institutions. The highest performance of individual stocks came from the French oil company Total Energies, the Danish Nordea Bank and the Spanish textile company Industria de Diseno. Anyway the sectors basic materials, construction & materials, utilities and technology were the main negative contributors in September. Disappointing on the other side was the performance of the shares of the British mining company Anglo American, the Mainz-based biotechnology company BioNTech, the Berlin-based online retailer Zalando and the Danish energy supplier Orsted. During the month the fund management slightly increased the weighting of the financial services and financial institutions sectors in particular. On the other hand it slightly reduced the technology sector in particular. Regionall the French allocation was increased and the US and the Swiss allocations were reduced. The equity ratio was 79.93% at the end of the month (79.43% previous month). The bond ratio remained almost stable at 12.99% (12.93% previous month). The cash ratio was 2.55% (3.04% previous month).
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Prospectus & Reports
Further Documents
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.