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: | LU0159550747 |
| WKN: | 164318 |
| 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: | accumulation |
| Financial Year: | 01.01. - 31.12. |
| Launch Date: | 27/01/2003 |
| Fund currency: | EUR |
| Fund Size (05/08/2022): | 158,69 Mio EUR |
| TER p.a. (30/12/2021): | 1,69 % |
| Reference Index: | |
Fees
| Management Fee p.a.: | 1,200 % |
| Custodian Fee p.a.: | 0,100 % |
Ratings & Awards (05/08/2022)
| 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): | AA |
| ESG-Qualityrating (0-10): | 8,230 |
| Environment Rating (0-10): | 6,396 |
| Social Rating (0-10): | 5,710 |
| Governance-Rating(0-10): | 5,683 |
| ESG rating in comparison group (0% lowest, 100% highest value): | 79,300 % |
| Peergroup: |
Mixed Asset EUR Flex - Global
(1251 Fonds) |
| Coverage rate ESG rating: | 85,469 % |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 122,646 |
Report date: 29/07/2022
Perfomance Chart
Performance in Percent
Risk metrics |
|
|---|---|
| Standard Deviation (2 years): | 9,99 % |
| Tracking Error (1 years): | - |
| Value at Risk (99% / 20 days): | -6,15 % |
| Maximum Drawdown (1 year): | -14,59 % |
| Sharpe Ratio (2 years): | 0,81 |
| Correlation (1 years): | - |
| Beta (1 years): | - |
| Treynor Ratio (1 years): | - |
Top Country Allocation (29/07/2022) |
|
|---|---|
| United States | 43,17 % |
| Germany | 12,25 % |
| United Kingdom | 5,13 % |
| France | 5,04 % |
| Cayman Islands | 4,71 % |
Asset Allocation (29/07/2022) |
|
|---|---|
| Stocks | 70,65 % |
| Bonds | 18,87 % |
| Certificates | 8,55 % |
| Cash | 1,93 % |
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
- Flexible addition of bonds (up to 50%) and other securities such as certificates on precious metals (up to 10% gold) possible.
- Equities enable participation in the growth opportunities of the global equity markets independently of benchmark index specifications.
- Offensive, theme-oriented, global multi-asset fund with ongoing adjustment of its portfolio to the expected market situation.
- The cash quota (up to 49%) can be used flexibly in order to cushion difficult market phases as much as possible.
Risks
- Share prices can fluctuate relatively strongly due to market, currency and individual value factors.
- In the case of securities not denominated in euros, there is a currency risk for euro investors.
- Bonds are subject to price risks when interest rates rise, as well as country risks and the creditworthiness and liquidity risks of their issuers.
- An investment in precious metals is subject to fluctuations in value.
Monthly Commentary
In June the stock markets suffered again heavy losses - with the exception of China and Hong Kong. The German DAX index lost -11.15%, closing the month with an even weaker result than the broad European Stoxx Europe 600 index, which lost -8.15%. In the USA, the S&P 500 fell -6.22%. In contrast, Hong Kong's Hang Seng Index rose 4.50%. Overall, global equities, as measured by the MSCI World, fell -8.77% - all index figures in euro terms. Persistently high inflation put pressure on the stock markets from two sides: As part of its increasingly restrictive monetary policy, the U.S. Federal Reserve raised its key interest rates by 75 basis points to the range of 1.50 to 1.75% in order to curb inflation in the United States. Meanwhile, the ECB has also announced its departure from the zero interest rate policy. Inflation also weighed on consumer sentiment and the mood of purchasing managers. This is also likely to have an impact on the beginning reporting season for the second quarter, where only very cautious profit and sales forecasts are expected. On the international stock markets, all sectors without exception performed negatively in June. The sectors with the highest price losses were basic materials, energy, chemicals, and financial institutions and media. Relatively the best performing sectors, i.e. with the smallest discounts, were healthcare, personal care & pharmaceuticals and food & beverages. In this market environment the price of DJE - Alpha Global corrected by -4.05%%. The fund posted gains in June mainly due to its stock selection in the sectors retail, healthcare and insurance. At the individual stock level the highest performance contributions came mainly from the IT group Alibaba, the insurance group AIA (both China), the pharmaceutical company Eli Lilly (USA) and the investment holding company Great Eagle (Hong Kong). Burdening on the other hand for the performance of the fund were the sectors construction & materials, utilities and automotive. Disappointing individual stocks were the holding company Porsche Automobil (Germany), the electronics group Samsung Electronics (South Korea), the IT hardware manufacturer Nvidia (USA), the energy supplier Fortum (Finland) and the fertilizer producer Nutrien (Canada). During the month the fund management reduced the weighting of the sectors financial services, financial institutions and insurance in particular. On the other hand, it increased the technology sector. Regionally it primarily reduced German positions. The equity allocation decreased to 68.89% at the end of the month (73.85% previous month). The bond allocation was increased up to 16.03% (13.39% previous month). The gold certificate ratio remained almost stable at 8.88% from 9.26%. The cash ratio increased from 3.50% to 6.20%.