Key information
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
Key information
| ISIN: | LU0191701282 |
| WKN: | A0CATN |
| Category: | Global Balanced Funds - Flexible |
| VG/KVG: | DJE Investment S.A. |
| Fund Manager: | Robert Beer Management GmbH |
| 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: | 09/06/2004 |
| Fund currency: | EUR |
| Fund Size (06/12/2021): | 77,58 Mio EUR |
| TER p.a. (30/12/2020): | 2,32 % |
| Reference Index: | 100% Euro Stoxx 50 |
Fees
| 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 (06/12/2021)
| Morningstar*: |
|
|
Awards: €uro Fund Award 2021 1st place over 1 year and 2nd place over 3 years in the category "Mixed funds predominantly equities". |
Perfomance Chart
Performance in Percent vs. Reference Index
Risk metrics |
|
|---|---|
| Standard Deviation (1 years): | 9,25 % |
| Tracking Error (1 years): | 10,85 % |
| Value at Risk (99% / 20 days): | -5,68 % |
| Maximum Drawdown (1 year): | -5,80 % |
| Sharpe Ratio (1 years): | 1,88 |
| Correlation (1 years): | 0,46 |
| Beta (1 years): | 0,43 |
| Treynor Ratio (1 years): | 40,87 |
Top Country Allocation (30/11/2021) |
|
|---|---|
| United States | 35,00 % |
| Germany | 13,34 % |
| France | 6,76 % |
| Switzerland | 3,99 % |
| Netherlands | 3,76 % |
Asset Allocation (30/11/2021) |
|
|---|---|
| Stocks | 78,50 % |
| Cash | 21,50 % |
Investment approach
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.
Chances
- Active risk management gives the fund asset management characteristics
- Growth opportunities of Europe's top global companies
- Efficient mixture of equities and bonds
Risks
- Issuer country, credit and liquidity risks
- Price risks of bonds when interest rates rise
- Equities may be subject to significant price falls
Monthly Commentary
In October the international stock markets were able to compensate the losses of previous month and performed well with the exception of Japan, Korea and Brazil. The German DAX index gained 2.81% and the broad European index Stoxx Europe 600 rose 4.55%. The US S&P 500 index climbed 7.21% and Hong Kong's Hang Seng index also advanced 3.63%. Global equities, as measured by the MSCI World, gained 5.88% - all index data in euro terms. In October equity markets benefited from positive quarterly results in the US and Europe. In the US around three quarters of companies beat expectations, in Europe it was over two thirds. This and the prospect of an expected robust economy with normalizing inflation in the coming year brightened the mood on the markets. This was complemented by the expectation that the US Federal Reserve would only cautiously tighten the liquidity tap, while the European Central Bank would maintain its expansionary monetary policy. These factors were more important than concerns about continued supply bottlenecks and rising commodity prices, including oil, copper and wheat. Inflationary pressures therefore remained high for the time being. In the USA the inflation rate was 5.4% compared to the same month last year, in the euro area it was probably 4.1%. In Germany supply bottlenecks in particular weighed on the mood of the economy, as capacity utilization in industries is falling and rising prices in trade are causing pessimism. The German ifo Business Climate Index fell from 98.9 to 97.7 points, declining for the fourth month in a row. At sector level all industries in the MSCI World were able to develop positively with the exception of telecommunications. The sectors automotive, financial services and technology performed particularly well. In China the official Purchasing Managers' Index for manufacturing continued to decline, falling four basis points to 49.2. Its counterpart for services also fell, ending the month at 52.4. Here, too, the reasons are likely to be the rising commodity prices and the continuing uncertainty with regard to the further development of the Chinese real estate market. On the bond side, inflationary pressures and the expected reduction of liquidity in the USA caused interest rates to rise. 10-year German government bonds rose from -0.20% to -0.11%. Their US counterparts yielded 1.55%, 6 basis points higher than previous month. Gold was able to benefit somewhat from the ongoing inflation. The price for the troy ounce rose by around 1.7% to 1,789 US dollars The US dollar appreciated moderately against the euro from 0.864 to 0.865 euros.
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Prospectus & Reports
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.
The management company of the funds is DJE Investment S.A., Distributor is the Robert Beer Management GmbH. A summary of investors' rights can be obtained free of charge in English in electronic form on DJE‘s website at https://www.dje.de/en-de/summary-of-investor-rights. The funds described in this marketing document may have been notified for distribution in different EU Member States. Investors' attention is drawn to the fact that the relevant management company may decide to withdraw the arrangements it has made for the distribution of the units of its funds in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.