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 (19/05/2022): | 147,73 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 (19/05/2022)
| Morningstar*: |
|
|
Awards: AAA Recognised with the top AAA rating in Citywire's fund manager ratings |
ESG Data
| MSCI ESG RATING (AAA-CCC): | BBB |
| ESG-Qualityrating (0-10): | 5,250 |
| Environment Rating (0-10): | 5,084 |
| Social Rating (0-10): | 5,317 |
| Governance-Rating(0-10): | 4,225 |
| ESG rating in comparison group (0% lowest, 100% highest value): | 16,590 % |
| Peergroup: |
Equity Asia Pacific ex Japan
(681 Fonds) |
| Coverage rate ESG rating: | 80,531 % |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 168,264 |
Report date: 29/04/2022
Perfomance Chart
Performance in Percent vs. Reference Index
Risk metrics |
|
|---|---|
| Standard Deviation (2 years): | 13,45 % |
| Tracking Error (2 years): | 8,58 % |
| Value at Risk (99% / 20 days): | -8,38 % |
| Maximum Drawdown (1 year): | -16,65 % |
| Sharpe Ratio (2 years): | 0,61 |
| Correlation (2 years): | 0,74 |
| Beta (2 years): | 0,69 |
| Treynor Ratio (2 years): | 11,85 |
Top Country Allocation (29/04/2022) |
|
|---|---|
| Cayman Islands | 23,67 % |
| Japan | 20,54 % |
| Hong Kong | 11,09 % |
| Bermuda | 8,39 % |
| China | 7,91 % |
Asset Allocation (29/04/2022) |
|
|---|---|
| Stocks | 93,04 % |
| Cash | 6,96 % |
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
The Asian stock markets developed mainly negative in April. The high energy and commodity prices weighed on the often energy-intensive production facilities in the region and the war between Russia and Ukraine affected economic activity and consumer sentiment in European consumer countries. China's industrial production contracted in April at a similar rate as during the Corona cut in March/April 2020. Following the strict zero-Covid approach the authorities imposed various lockdowns including Shanghai. This led to congestion there in and outside the world's busiest container port with consequences for Chinese imports and exports and for global supply chains as a whole. In addition the real estate crisis is still smouldering in China hampering the economic recovery. In this market environment the price of the DJE - Asia corrected by -1.36%. Its benchmark index (100% MSCI Daily TR AC Far East Ex Japan) closed the month -1.02%. In April the sectors of the Asian investment region performed predominantly negatively. The best performing sectors in relative terms, i.e. with the highest price gains, were utilities and consumer staples (both with an overweight in the fund) as well as energy (underweight in the fund). The sectors technology, construction & materials and financial services (all three underweightin the fund) as well as healthcare (overweight) ended the month underperforming, 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 April. At the individual stock level the strongest performance contributors were delivered by positions in the infrastructure and transport company Zhejiang Expressway (China), the battery manufacturer Samsung SDI (South Korea), the beverage producer Suntory Beverage (Japan) and the real estate company Great Eagle Holdings (Hong Kong), among others. On the other hand the fund's performance was burdened by various individual stocks, including mainly Japanese companies Shimano (bicycle components and accessories manufacturer), Tokyo Electron (semiconductor industry), Sony (electronics) and Recruit (human resources). During the month the fund management increased the sectors household goods and health care in particular. On the other hand, the weighting of the sectors basic materials, retail and technology were reduced. Regionally the allocation of Japanese, Chinese and Taiwanese equities were reduced, while the share of Indian equities was increased. The investment ratio declined to 93.04% (96.47% previous month). At the end of the month stocks denominated in Hong Kong and Singapore dollars were partially currency-hedged.