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 |
| Type of Share: | distribution |
| Financial Year: | 01.01. - 31.12. |
| Launch Date: | 27/01/2003 |
| Fund currency: | EUR |
| Fund Size (27/07/2021): | 193,99 Mio EUR |
| TER p.a. (30/12/2020): | 2,20 % |
| Reference Index: |
Fees
| Initial Charge: | 4,00 % |
| Management Fee p.a.: | 1,60 % |
| Custodian Fee p.a.: | 0,10 % |
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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 (27/07/2021)
| 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 (30/06/2021) |
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|---|---|
| United States | 36,92 % |
| Germany | 16,33 % |
| France | 8,33 % |
| Switzerland | 6,10 % |
| Cayman Islands | 5,60 % |
Asset Allocation (30/06/2021) |
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|---|---|
| Stocks | 79,48 % |
| Bonds | 12,47 % |
| Certificates | 4,74 % |
| Cash | 3,31 % |
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
Most stock markets performed well in June. The German DAX index rose 0.71%, not quite as strongly as the broad European Stoxx Europe 600 index, which gained 1.36%. In the USA, the S&P 500 Index gained 5.26%. Hong Kong's Hang Seng Index ended the month with a surplus in height of 1.99%. Global equities climbed 4.64% - all index figures in euro terms. Although rising global inflation burdened the markets, especially as investors now expect central banks to raise interest rates sooner than 2023, markets benefited from the high expected growth of corporate earnings in the second quarter and further improving economic indicators. In the USA and Europe business confidence and consumer confidence improved and the purchasing managers' indices for industry and the service sector rose or maintained their high level. In this market environment the price of the DJE - Alpha Global advanced 2.59%. In June a good two thirds of the sectors of the global stock market developed positively. The technology sector recorded the highest price gains, followed by the sectors healthcare, energy and retail. The sectors real estate and automotive also delivered encouraging results. On the other hand, the sectors insurance, basic materials, financial institutions and travel & leisure sectors in particular suffered price losses. In June, the fund benefited from its stock selection in the sector construction & materials as well as credit institutions (both highly weighted in the fund) and travel & leisure (lowly weighted in the fund) – globally compared all three suffered losses. Furthermore the stock selection in the lowly invested sectors telecommunication and industry also contributed positive to the performance of the fund. The highest performance of individual stocks was delivered by two U.S. technology companies, Apple and Microsoft, South Korean battery and accumulator manufacturer Samsung SDI and U.S. online payment service PayPal. On the other hand, the gold position in the fund burdened the performance of the fund price. In addition the sectors real estate, utilities, automotive and energy had a negative impact in June. Also disappointing was the performance of following stocks: the Danish energy group Orsted, the British mining group Anglo American and the Spanish textile company Industria de Diseno. During the month the fund management increased in particular the weighting of the technology sector. On the other hand it slightly reduced the sectors chemicals and insurance. The allocation of U.S. and Swiss positions were increased and German positions were reduced. The equity ratio remained almost stable at the end of the month at 79.48% (79.69% previous month) as did the bond ratio at 12.47% (12.96% previous month). Accordingly, the cash ratio was 3.31% (3.11% previous month).
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Prospectus & Reports
Further Documents
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.