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 (04/10/2022): | 122,52 Mio EUR |
| TER p.a. (30/12/2021): | 1,96 % |
| 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 (04/10/2022)
| Morningstar*: |
|
|
Awards: AAA Recognised with the top AAA rating in Citywire's fund manager ratings |
ESG Data
| MSCI ESG RATING (AAA-CCC): | A |
| ESG-Qualityrating (0-10): | 6,862 |
| Environment Rating (0-10): | 5,169 |
| Social Rating (0-10): | 5,281 |
| Governance-Rating(0-10): | 4,872 |
| ESG rating in comparison group (0% lowest, 100% highest value): | 14,290 % |
| Peergroup: |
Equity Asia Pacific ex Japan
(686 Fonds) |
| Coverage rate ESG rating: | 78,271 % |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 123,340 |
Report date: 30/09/2022
Perfomance Chart
Performance in Percent vs. Reference Index
Risk metrics |
|
|---|---|
| Standard Deviation (2 years): | 14,24 % |
| Tracking Error (2 years): | 8,82 % |
| Value at Risk (99% / 20 days): | -9,29 % |
| Maximum Drawdown (1 year): | -23,05 % |
| Sharpe Ratio (2 years): | -0,15 |
| Correlation (2 years): | 0,72 |
| Beta (2 years): | 0,72 |
| Treynor Ratio (2 years): | -3,05 |
Top Country Allocation (30/09/2022) |
|
|---|---|
| Cayman Islands | 20,69 % |
| Japan | 18,16 % |
| Hong Kong | 10,98 % |
| China | 9,00 % |
| Bermuda | 8,93 % |
Asset Allocation (30/09/2022) |
|
|---|---|
| Stocks | 90,08 % |
| Cash | 9,92 % |
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 August the Asian stock markets developed in a predominantly friendly manner. Inflationary pressures in the Asia-Pacific region are lower than in the U.S.A. and Europe, central bank monetary policies are less aggressive and money supply developments are more favorable. On the other hand, two factors are weighing on the region: the geopolitical conflict between China and Taiwan and the still smoldering real estate crisis in China. In this market environment the DJE - Asia price posted a gain in height of 0.19%. Its benchmark index (100% MSCI Daily TR AC Far East Ex Japan) also gained 0.64%. The sectors of the Asian investment region showed a mixed picture. Relatively the best performing sectors, i.e. with the highest price gains, were energy (underweighted in the fund) and utilities and luxury consumer goods (both overweighted in the fund). The sectors healthcare and real estate (both overweighted in the fund) and technology (underweighted in the fund) ended the month underperforming, i.e. with the largest price losses. Overall the sector weighting influenced the performance of the fund positive with regard to the broad Asian equity market. The strongest contributors to the fund performance contributors of the stock level came from the China's Kingboard Holdings (chemicals), Anta Sports (sporting goods) and Great Eagle Holdings (real estate), among others, as well as Japan's Shimano (bicycle components and accessories). On the other hand, various individual stocks, including Japanese pharmaceutical companies Astellas and Takeda Pharmaceuticals, as well as Chinese infrastructure companies Zhejiang Expressway and Guangdong Investments, weighed down fund performance. During the month the fund management increased the sectors technology, financial services, household goods, chemicals and travel & leisure. On the other hand, the sectors insurance and healthcare were reduced. Regionally the allocations of Japan and South Korea in particular were increased. The investment ratio increased to 97.58% (90.81% previous month). By the end of the month securities denominated in Hong Kong dollar were partially currency hedged.