Key information
DJE - Asien invests in equities with strong substance and growth in the Asia-Pacific region. In its search for promising stocks, the fund management focuses on companies with attractive fundamental valuations. In addition, the fund management pays attention to an investor-friendly corporate policy with capital returns and share buybacks (shareholder return). The fund invests free of index specifications and uses DJE Research's many years of experience and in-depth knowledge of the Asian markets to generate positive performance.
Responsible manager since inception
Responsible manager since 01/07/2019 as co-manager
Key information
| ISIN: | LU0374456654 |
| WKN: | A0Q5KZ |
| Category: | Asia/Pacific (ex Japan) Equity Funds General |
| 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: | distribution |
| Financial Year: | 01.01. - 31.12. |
| Launch Date: | 01/08/2008 |
| Fund currency: | EUR |
| Fund Size (21/10/2021): | 203,96 Mio EUR |
| TER p.a. (30/12/2020): | 2,01 % |
| Reference Index: | 100% MSCI Daily TR AC Far East Ex Japan |
Fees
| Initial Charge: | 5,000 % |
| Management Fee p.a.: | 1,650 % |
| Custodian Fee p.a.: | 0,100 % |
|
Performance Fee p.a.: 10% of the [Hurdle: exceeding 6% 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. Payment is made at the end of the accounting period. For further details, see the sales prospectus. |
Ratings & Awards (21/10/2021)
| Morningstar*: |
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Awards: AAA Recognised with the top AAA rating in Citywire's fund manager ratings |
Perfomance Chart
Performance in Percent vs. Reference Index
Risk metrics |
|
|---|---|
| Standard Deviation (2 years): | 16,69 % |
| Tracking Error (2 years): | 8,20 % |
| Value at Risk (99% / 20 days): | -10,39 % |
| Maximum Drawdown (1 year): | -9,97 % |
| Sharpe Ratio (2 years): | 0,63 |
| Correlation (2 years): | 0,81 |
| Beta (2 years): | 0,79 |
| Treynor Ratio (2 years): | 13,21 |
Top Country Allocation (30/09/2021) |
|
|---|---|
| Cayman Islands | 23,67 % |
| Japan | 20,79 % |
| Hong Kong | 14,61 % |
| China | 12,84 % |
| Bermuda | 7,25 % |
Asset Allocation (30/09/2021) |
|
|---|---|
| Stocks | 98,70 % |
| Cash | 1,30 % |
Investment approach
DJE - Asia focuses on equities with strong substance and growth as well as companies with stable and promising business models from the Asia-Pacific region. The RCEP free trade zone, which was established in 2020, is the largest in the world in terms of its share of global GDP and is expected to contribute to the region's dynamic growth (see chart). The investment process combines fundamental top-down (FMM) and bottom-up analysis. This is to ensure that both opportunities and risks are identified in a timely manner. In the fund, preference is given to companies with attractive earnings growth. The decisive investment criteria include sustained growth, stability of corporate earnings as well as innovative strength and a leading competitive position. The fund management actively controls the investment quotas in regions, countries, sectors or companies of the Asian economic area free of index specifications.
Chances
- Excellent demographic developments make long-term growth in investments in Asia possible
- The conditions for expansion in many Asian domestic economies, such as China, continue to exist
- Traditionally higher dividend payments mean that the fund can take advantage of the compounding effect of reinvested dividends
Risks
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- Currency risks resulting from a high proportion of foreign investments
- Issuer country and credit risks
Monthly Commentary
In September Asian stock markets were under pressure with the exception of Japan. The headwinds on the stock markets were caused by a combination of problems: The troubles of the Chinese real estate company Evergrande burdened the consumer confidence as well as the consumption and also slowed down the real estate and stock markets in China, which have often been the target of government regulatory intervention. In addition supply bottlenecks and energy shortages continued to affect production. In this market environment the price of the DJE - Asia fell -2.60%. Its benchmark index (100% MSCI Daily TR AC Far East ex Japan) corrected by -2.97%. In September the sectors of the Asian investment region developed predominantly negatively. Relatively best, i.e. with the highest price gains, was only the energy sector (highly weighted in the fund). The non-cyclical consumer goods and technology sectors (both lowly weighted in the fund) as well as real estate (neutrally weighted in the fund) and telecommunications (highly weighted in the fund) ended the month below average, i.e. with the largest price losses. Overall the sector weighting had a positive impact on the fund's price performance against the broad Asian equity market in September. The strongest performance contributions of individual stocks was delivered by the wind turbine manufacturer Xinjiang Goldwind Science & Technology, the insurance group PICC Properties and the Casualty and port operator China Merchants Port Holdings (all three China) as well as the semiconductor producer Tokyo Electron (Japan). On the other hand the fund's performance was weighed down by various individual stocks including the real estate company Great Eagle and the composite producer Kingboard Holdings (Hong Kong) as well as the battery manufacturer Samsung SDI (South Korea) and the IT group Alibaba (China). During the month the fund management reduced especially the sectors real estate and travel & leisure. On the other hand it increased the sectors industrial, oil & gas, technology, retail and telecommunications. Regionally the weighting of Japanese, Chinese and South Korean equities was increased and the share of Hong Kong equities was reduced. The investment ratio rose to 98.70% in equities (96.29% previous month). At the end of the month the Hang Seng Index was fully hedged.
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Prospectus & Reports
Further Documents
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.