Key information
The DJE Gold & Stabilitätsfonds combines various asset classes in an investment strategy aimed at absolute return. The fund invests in precious metals, short-term bank deposits, equities from the sectors basic materials, health care, utilities, real estate, telecommunication and agriculture as well as in Swiss companies and investment grade government bonds. It may also invest in corporate bonds from the above-mentioned sectors. Up to 30% of the fund may invest in physical gold. The total investment in gold (directly or indirectly through certificates) may not exceed 49% of the fund’s assets. The objective of the fund is to generate a steady return. The fund’s currency is the Swiss Franc. However, the fund is managed from a Euro investors perspective, so the performance in Euro is taken into account.
Responsible manager since 01/01/2010
Key information
| ISIN: | LU0323357649 |
| WKN: | A0M67Q |
| Category: | Fund CHF Moderate Allocation |
| Minimum Equity: | 25% |
| Partial Exemption of Income ¹: | 15% |
| VG/KVG: | DJE Investment S.A. |
| Fund Management: | DJE Kapital AG |
| Risk Category: | 3 |
| 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: | 01/04/2008 |
| Fund currency: | CHF |
| Fund Size (12/09/2024): | 194,21 Mio |
| TER p.a. (29/12/2023): | 1,77 % |
| Reference Index: | - |
Fees
| Initial Charge: | 5,000 % |
| Management Fee p.a.: | 1,550 % |
| Custodian Fee p.a.: | 0,070 % |
|
Performance Fee p.a.: 10% of the unit value development, but no more than 2.5% of the average net fund assets in the accounting period, insofar as the unit value at the end of the accounting period exceeds the unit value at the end of the previous accounting periods. The accounting period begins on 1 January and ends on 31 December of a calendar year. The first accounting period begins on 1.4.2021 and ends on 31.12.2022. Payment is made at the end of the accounting period. For further details, see the sales prospectus. |
Ratings & Awards (12/09/2024)
| Morningstar*: |
|
|
Awards: Best Asset Manager 2023 Place 5 out of 557 funds in the category "Dynamic" in the ranking of Wirtschaftswoche and MMD |
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): | 7,334 |
| Environment Rating (0-10): | 6,084 |
| Social Rating (0-10): | 5,590 |
| Governance-Rating(0-10): | 6,142 |
| ESG rating in comparison group (0% lowest, 100% highest value): | 28,210 % |
| Peergroup: |
Mixed Asset CHF Flexible
(39 Fonds) |
| Coverage rate ESG rating: | 62,766 % |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 150,055 |
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): | 7,12 % |
| Tracking Error (1 years): | - |
| Value at Risk (99% / 20 days): | -4,37 % |
| Maximum Drawdown (1 year): | -6,95 % |
| Sharpe Ratio (2 years): | 0,64 |
| 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 | ||
|---|---|---|---|
| Novo Nordisk A/S | 1.84% | Goldbarren | 29.60% |
| Novartis AG-Reg | 1.52% | US TREASURY N/B | 2.17% |
| Unilever Plc | 1.48% | BUONI POLIENNALI DEL TES | 2.04% |
| Holcim Ltd | 1.28% | FORTUM OYJ | 1.47% |
| Eli Lilly & Co | 1.17% | META PLATFORMS INC | 1.33% |
| Verizon Communications Inc | 1.16% | MARS INC | 1.33% |
| Newmont Corp | 1.13% | MCDONALD'S CORP | 1.28% |
| Totalenergies SE | 1.12% | MICROSOFT CORP | 1.24% |
| Sumitomo Mitsui Financial Gr | 1.11% | ANGLO AMERICAN CAPITAL | 1.06% |
| Essilorluxottica | 1.10% |
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 | 58,87 % |
| Germany | 7,23 % |
| United Kingdom | 5,25 % |
| France | 3,52 % |
| Denmark | 3,40 % |
Asset allocation in % of the fund volume (30/08/2024) |
|
|---|---|
| Stocks | 38,07 % |
| Bonds | 29,86 % |
| Commodities | 29,60 % |
| Cash | 2,46 % |
Investment strategy
The main focus of the DJE Gold & Stabilitätsfonds is gold investments. For generations, gold has been considered a reliable hedge against losses arising from economic crises and in times of rapid inflation. The portfolio also includes dividend-yielding equities, with defensive business models for low-risk diversification. The fund management selects primarily companies with a good asset base, and which have a proven-track record of stable performance even in volatile market phases. In fixed income, the fund only invests in bonds with investment grade ratings. The investment strategy of the DJE Gold & Stabilitätsfonds fund is flexible to adapt to constantly changing market conditions. Foreign currency risks may be hedged.
Chances
- Attractive initial investment level for global dividend and value stocks
- Under-investment by private and institutional investors and emerging market central banks with strong foreign currency reserves in the asset class of gold
- Investments in gold should have additional potential given the precious metal’s role as a monetary stabiliser in politically, socially and economically uncertain times
Risks
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- Investment in physical precious metals is subject to fluctuations
- Price risks for bonds, particularly when interest rates on the capital markets rise
- Currency risks resulting from the portfolio’s foreign (non-EUR) investments
Target group
Der Fonds eignet sich für Anleger
- with a medium to long-term investment horizon
- who wish to focus their equity investments on physical precious metals as well as defensive value investments
- who wish to minimise risk compared to a direct investment in gold
Der Fonds eignet sich nicht für Anleger
- who are not prepared to accept increased volatility and temporary losses
- who seek safe returns
- with a short-term investment horizon
Monthly Commentary
The DJE Gold & Stabilitätsfonds fell by -0.14% in August in the fund currency, the Swiss franc. In euro terms, the fund gained 1.82% due to the appreciation of the Swiss franc against the euro. After reaching an all-time high of USD 2,529 per troy ounce in mid-August, the price of gold rose by 2.28% to USD 2,503 and by 0.22% to EUR 2,264 compared to the previous month. The main driver was US Federal Reserve Chairman Jerome Powell's statement at the annual central bank meeting in Jackson Hole that the time had come to adjust (monetary) policy. Even if the timing and pace of interest rate cuts depend on incoming data, this signalled the start of a cycle of interest rate cuts. The prospect of falling interest rates also attracted investors again. According to Bloomberg, gold ETF holdings rose by 15 tonnes last week to their highest level in six months. Looking ahead to the coming months, it will be important to see how central bank purchases and demand for gold ETFs develop. In August, the global equity index MSCI World (including dividends) rose by 0.21%. The sub-sectors of the MSCI World largely performed positively. The sectors that performed best in relative terms - i.e. with the highest price gains - were real estate and consumer staples (both underweighted in the fund) and utilities (overweighted in the fund). The energy sector (overweight in the fund) performed the worst in relative terms, i.e. with the highest price loss. The fund's sector positioning thus had a slightly negative impact on the fund's price performance relative to the world equity index in August. On the equity side, the highest performance contributions came from the pharmaceutical companies Novo Nordisk (Denmark), Eli Lilly (USA) and Novartis (Switzerland). The US gold mining company Newmont and the British consumer goods manufacturer Unilever also made a positive contribution to performance. On the other hand, the positions of the South African gold mining company GoldFields, the Japanese financial services company Sumitomo Mitsui Financial and the US internet company Amazon, among others, had a negative impact. The fund management increased the fund's equity allocation slightly from 36.75% to 38.07%. On the bond side, the fund benefited from the broad decline in yields on almost all bond types. The broad global bond index Barclays Global Aggregate Total Return rose by 2.37% in US dollar terms. The fund management reduced the bond allocation slightly from 31.10% to 29.86%. The commodities (gold) ratio remained almost stable at 29.60% (previous month: 29.72%).