Key information
DJE - Multi Asset & Trends is a dynamic global multi-asset fund. The diversified portfolio of approximately 50 to 70 equities and between 20 to 40 bonds is managed independent from any benchmark. The fund management pursues a thematic approach to benefit from current and long-term trends, including digital transformation, demographics & health, and clean technologies. The strategy targets companies with stable business models and above-average growth prospects, combined with reasonable valuations. Additional diversification is achieved by investing in up to 10% of the portfolio in gold. The fund seeks to exploit global opportunities to generate an attractive performance.
Responsible manager since 23/01/2017
Key information
| ISIN: | LU0159549145 |
| WKN: | 164317 |
| Category: | Fund EUR Flexible Allocation - Global |
| Minimum Equity: | 51% |
| Partial Exemption of Income ¹: | 30% |
| VG/KVG: | DJE Investment S.A. |
| Fund Management: | 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: | distribution |
| Financial Year: | 01.01. - 31.12. |
| Launch Date: | 27/01/2003 |
| Fund currency: | EUR |
| Fund Size (12/09/2024): | 290,67 Mio EUR |
| TER p.a. (29/12/2023): | 1,86 % |
| Reference Index: | - |
Fees
| Initial Charge: | 4,000 % |
| Management Fee p.a.: | 1,600 % |
| Custodian Fee p.a.: | 0,060 % |
|
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 (12/09/2024)
| Morningstar*: |
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|
Awards: Scope Award 2023 Best Fund in the category "Mixed Fund Global Flexible" in Switzerland |
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): | AA |
| ESG-Qualityrating (0-10): | 7,133 |
| Environment Rating (0-10): | 6,247 |
| Social Rating (0-10): | 5,406 |
| Governance-Rating(0-10): | 5,807 |
| ESG rating in comparison group (0% lowest, 100% highest value): | 26,350 % |
| Peergroup: |
Mixed Asset EUR Agg - Global
(463 Fonds) |
| Coverage rate ESG rating: | 87,649 % |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 76,341 |
Portfolio allocation according to ESG rating of individual securities
Report date: 30/08/2024
- The fiscal treatment depends on the personal circumstances of the respective client and can be subject of change in the future.
- 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
Rolling performance in %
Risk metrics (12/09/2024) |
|
|---|---|
| Standard Deviation (2 years): | 7,94 % |
| Tracking Error (1 years): | - |
| Value at Risk (99% / 20 days): | -4,83 % |
| Maximum Drawdown (1 year): | -6,71 % |
| Sharpe Ratio (2 years): | 0,58 |
| Correlation (1 years): | - |
| Beta (1 years): | - |
| Treynor Ratio (1 years): | - |
Country allocation total portfolio (% NAV)
*Note: Cash position is included here because it is not assigned to any country or currency.
Data: Anevis Solutions GmbH, own illustration 30/08/2024
Top Ten Holdings in % of Fund Volume
| Equity Portfolio | Portfolio without share | ||
|---|---|---|---|
| Alphabet Inc-Cl C | 2.62% | Invesco Physical Gold ETC | 6.87% |
| Apple Inc | 2.57% | UNITED MEXICAN STATES | 2.38% |
| Allianz SE-Reg | 2.00% | BUONI POLIENNALI DEL TES | 1.80% |
| Nvidia Corp | 1.95% | NORWEGIAN GOVERNMENT | 0.94% |
| Hannover Rueck SE | 1.84% | MSCI INC | 0.87% |
| Microsoft Corp | 1.82% | US TREASURY N/B | 0.85% |
| Amazon.Com Inc | 1.54% | SOFTBANK GROUP CORP | 0.83% |
| Tokio Marine Holdings Inc | 1.49% | ||
| Sumitomo Mitsui Financial Gr | 1.40% | ||
| Novo Nordisk A/S | 1.39% |
Current status: 30/08/2024
When buying a fund, one acquires shares in the said fund, which invests in securities such as shares and/or in bonds, but not the securities themselves.
Top Country Allocation in % of Fund Volume (30/08/2024) |
|
|---|---|
| United States | 43,64 % |
| Germany | 10,57 % |
| Japan | 9,16 % |
| United Kingdom | 4,23 % |
| France | 4,15 % |
Asset allocation in % of the fund volume (30/08/2024) |
|
|---|---|
| Stocks | 67,83 % |
| Bonds | 22,84 % |
| Certificates | 7,57 % |
| Cash | 1,76 % |
Investment strategy
The asset allocation of the DJE - Multi Asset & Trends fund follows a consistent bottom-up approach. It is based on fundamental factors such as market positioning, balance sheet and earnings potential, valuation, management quality, and sustainability criteria. The fund management takes a flexible approach to asset classes and allocates across sectors and countries with the aim of managing risk and capitalising on opportunities that arise. Gold is an asset class that has a low correlation with equities and bonds and provides additional stability; it can represent up to 10% of the fund. With the growth-oriented risk-reward profile and broad diversification across different asset classes, the fund aims for attractive returns combined with 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.
Target group
Der Fonds eignet sich für Anleger
- who wish to reduce risk through broad diversification of investments
- with a medium to long-term investment horizon
- who wish to reduce risk compared to a direct investment
Der Fonds eignet sich nicht für Anleger
- who seek safe returns
- with a short-term investment horizon
- who are not prepared to accept increased volatility
Monthly Commentary
After a very volatile start to the month, the international stock markets were relatively calm and largely positive in August. The German share index DAX rose by 2.15%, outperforming the broad European index Stoxx Europe 600, which advanced by 1.57%. On the other side of the Atlantic, the broad US index S&P 500 rose by a moderate 0.19%. In Hong Kong, the Hang Seng Index rose by +1.83%. Overall, global equities, as measured by the MSCI World, climbed by +0.44% - all index figures in euro terms. Weak US labour market data at the beginning of the month gave rise to fears that the USA could slide into recession. In addition, a (moderate) interest rate hike by the Bank of Japan jeopardised the usual interest rate differential business, the so-called yen carry trade. As a result, the Japanese share index Topix suffered a daily loss of -12.2%. This was also felt by the other major markets, which fell, albeit not as sharply. However, the situation calmed down again after 5 August. On the one hand, better economic and consumer data came from the USA and the US Federal Reserve confirmed the markets' expectations of a rate cut in September. The bond markets reacted differently to the market turbulence and the renewed high expectations of interest rate cuts. The yield on 10-year German government bonds only fell from 2.30% to 2.29%, while the yield on their US counterparts fell somewhat more sharply, by 13 basis points (bp) to 3.90%. The gold price also benefited from the prospect of falling real interest rates. The price of a troy ounce rose by +2.28% from USD 2,447.60 to USD 2,503.39. Against this market backdrop, the DJE - Multi Asset & Trends remained stable with a gain of 0.13%. Globally, property, utilities, consumer staples and pharmaceuticals were the best performing sectors in August, while energy and consumer cyclicals were particularly disappointing. The fund management adjusted the allocation over the course of the month and increased the weighting of the technology, healthcare and chemicals sectors, among others. At the same time, the credit institutions and energy sectors, among others, were reduced. As a result, the equity allocation fell slightly from 68.23% to 67.83%. The bond ratio remained stable at 22.84% (previous month: 22.47%). The precious metals ratio rose slightly from 7.29% to 7.57% and liquidity fell to 1.76%.