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 |
| Type of Share: | distribution |
| Financial Year: | 01.01. - 31.12. |
| Launch Date: | 01/08/2008 |
| Fund currency: | EUR |
| Fund Size (27/07/2021): | 216,73 Mio EUR |
| TER p.a. (30/12/2020): | 2,01 % |
| Reference Index: | 100% MSCI Daily TR AC Far East Ex Japan |
Fees
| Initial Charge: | 5,00 % |
| Management Fee p.a.: | 1,65 % |
| Custodian Fee p.a.: | 0,10 % |
|
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 (27/07/2021)
| 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): | 16,43 % |
| Tracking Error (2 years): | 8,45 % |
| Value at Risk (99% / 20 days): | -10,17 % |
| Maximum Drawdown (1 year): | -7,77 % |
| Sharpe Ratio (2 years): | 0,71 |
| Correlation (2 years): | 0,80 |
| Beta (2 years): | 0,78 |
| Treynor Ratio (2 years): | 15,02 |
Top Country Allocation (30/06/2021) |
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|---|---|
| Cayman Islands | 31,47 % |
| Hong Kong | 14,86 % |
| China | 12,58 % |
| Japan | 11,69 % |
| Korea, Republic Of | 7,53 % |
Asset Allocation (30/06/2021) |
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|---|---|
| Stocks | 97,59 % |
| Cash | 2,41 % |
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 June the Asian stock markets showed again a mixed performance. On local currency basis the stock markets in Hong Kong and China, Singapore and Thailand declined slightly, while India, Taiwan, Japan and South Korea gained. Rising inflation worldwide also weighed on the stock markets in Asia. For example, producer prices in China rose by 9.0% year-on-year - the strongest increase since 2008. On the other hand, China increased its exports by 28% and imports by 51% compared to previous year, which was weighed down by Corona. In this market environment the price of DJE - Asia gained 3.36% and outperformed its benchmark index (100% MSCI Daily TR AC Far East Ex Japan), which gained 3.15%. In June sectors of the Asian investment region performed mostly negatively. Relatively best performing sectors, i.e. with the highest gains, were consumer cyclicals, industrials (both highly weighted in the fund) and healthcare (lowly weighted in the fund). The sectors financial services, utilities (both lowly weighted in the fund), real estate and consumer staples (both highly weighted in the fund) closed the month with the largest price losses. Overall the sector weighting had a positive impact on the fund’s price performance versus the broad Asian equity market. Viewing individual stocks the strongest performance contributions came from titles of the sporting goods manufacturer Anta Sports (China), the oil company PetroChina (China), the jewelry maker Chow Tai Fook (Hong Kong) and the composites producer Kingboard Holdings (Hong Kong). Anyway, the fund performance was slowed down by several individual stocks, including real estate financier HDFC (India), textile company Texwinca Holdings (Hong Kong), wind turbine manufacturer Xinjiang Goldwind Science & Technology and internet company Tencent (both China). During the month the fund management reduced the sectors telecommunications and financial services in particular. On the other hand, it increased positions mainly in the sectors oil & gas, basic materials and retail. Regionally Hong Kong, Thai and Indian equities were slightly reduced in particular and the proportion of Chinese equities slightly increased. The equity quota was 97.59% (96.91% previous month). At the end of the month Stocks denominated in Hong Kong and Singapore dollars were partly currency hedged.
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Prospectus & Reports
Further Documents
Legal Information / Disclaimer:
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.