The assets of this international mixed fund may be invested in both equities and bonds. Depending on the assessment, the fund may have the characteristics of an equity fund or a bond fund. The investment focus is on securities with highest liquidity and quality. The mixed fund's active risk management gives it its asset management character.
Responsible manager since inception
|Category:||Global Balanced Funds - Flexible|
|VG/KVG:||DJE Investment S.A.|
|Fund Manager:||Robert Beer Management GmbH|
|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.|
|Fund Size (01/12/2022):||108,69 Mio EUR|
|TER p.a. (30/12/2021):||2,03 %|
|Reference Index:||100% Euro Stoxx 50|
|Initial Charge:||5,000 %|
|Management Fee p.a.:||0,760 %|
|Custodian Fee p.a.:||0,100 %|
|Management fee p.a.:||1,000 %|
Performance Fee p.a.:
10% of the [Hurdle: exceeding 4% p.a.] unit value performance, 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. The first accounting period begins on 1 July 2020 and does not end until 31 December 2021, thereafter the calendar year. Payment is made at the end of the accounting period. For further details, see the sales prospectus.
Ratings & Awards (01/12/2022)
German Fund Award 2022
"Outstanding" in the category "Mixed funds global equity-oriented"
Austrian Fund Award 2022
"Outstanding" in the category "Mixed funds global equity-oriented"
€uro Fund Award 2022
2nd place over 3 years in the category "Mixed funds predominantly equities".
€uro Fund Award 2021
1st place over 1 year and 2nd place over 3 years in the category "Mixed funds predominantly equities".
|MSCI ESG RATING (AAA-CCC):||AAA|
|Environment Rating (0-10):||6,569|
|Social Rating (0-10):||5,147|
|ESG rating in comparison group (0% lowest, 100% highest value):||85,170 %|
Mixed Asset EUR Flex - Global
|Coverage rate ESG rating:||98,217 %|
|Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales):||101,183|
Report date: 30/11/2022
Performance in Percent vs. Reference Index
|Standard Deviation (1 years):||13,80 %|
|Tracking Error (1 years):||21,22 %|
|Value at Risk (99% / 20 days):||-9,04 %|
|Maximum Drawdown (1 year):||-13,68 %|
|Sharpe Ratio (1 years):||-0,57|
|Correlation (1 years):||0,24|
|Beta (1 years):||0,28|
|Treynor Ratio (1 years):||-28,39|
Top Country Allocation (30/11/2022)
|United States||41,59 %|
Asset Allocation (30/11/2022)
The RB LuxTopic – Flex pursues a flexible investment strategy with international blue chip shares. Hedging strategies may be implemented as risk control. Bonds and precious metals like gold can be added to the portfolio if an investment seems to be profitable in the current market environment. The most important yield components are international shares that offer a stable market position, a strong brand, a sound substance and a high profitability. In order to reduce downward trends hedging strategies may be used. Thus the investment will be able to start from a higher level into the upward trend. The aim is to participate in the development of large international holdings as well as to face risks and opportunities on the capital market flexible.
- Active risk management gives the fund asset management characteristics
- Growth opportunities of Europe's top global companies
- Efficient mixture of equities and bonds
- Issuer country, credit and liquidity risks
- Price risks of bonds when interest rates rise
- Equities may be subject to significant price falls
Most international stock markets experienced a brilliant comeback in October after a deep red third quarter. The German DAX rose 9.41% outperforming the broad European Stoxx Europe 600 index, which gained 6.28%. On the other side of the Atlantic, the S&P 500 advanced 6.93%. Only Hong Kong's Hang Seng Index lost -15.55%. Overall global equities as measured by the MSCI World gained 6.06% - all index data in euro terms. The modified expectations of market participants regarding the monetary policy of the central banks in the USA and Europe was an important catalyst for the soaring share prices. The US Federal Reserve had raised its key interest rates by 75 basis points each in June, July and September (and the European Central Bank in July, September and October). This raised hopes that central banks might adopt a less aggressive monetary policy in the future. The hope was strengthened by the fact that ECB President Christine Lagarde did not want to commit at the ECB press conference whether the rate hikes would continue at this pace. She also gave a gloomy economic outlook for the Eurozone, saying that further interest rate rises could weigh even more heavily on the Eurozone economy. Moreover, across Europe October was warmer than usual so that heating was hardly necessary. The gas storage facilities were therefore not burdened and the gas price fell significantly in October - which also supported the markets. However, spokespersons for the US Federal Reserve countered this hope towards the end of the month as inflation in the US reached 8.2% year-on-year at the end of September. While this was a slight decline from August (8.3%), it was lower than expected. In the euro area inflation reached a new high of 10.7% at the end of October (Germany: 10.4%) compared to the same month previous year. Experts therefore expect further key interest rate hikes by the end of the year up to 5.0% in the USA and up to 2.75% in the euro area. Despite high inflation rates and energy prices the German economy was able to surprise positively in the third quarter and increased the gross domestic product by 0.3%. Economists had expected a decline in height of -0.2%. However, this did not improve the mood of the German economy. The ifo business climate index remained at a low level of 84.3 points (84.4 previous month). This is mainly due to pessimistic business expectations. On the bond markets yields on high-quality government and corporate bonds continued to rise with only high-yield bonds yielding lower than previous month. Yields on 10-year German Bunds rose from 2.11% to 2.14% and that of their US counterparts increased from 3.83% to 4.05%. In the US the yield curve remains inverted as yields on 2-year US Treasuries are higher at 4.48%. This suggests that the probability of recession remains high for the US. The price of a troy ounce of gold fell 1.6% to USD 1,654. Given the continued strength of the US dollar and persistent ETF outflows, this was the seventh consecutive monthly decline.