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 sustained 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 (14/01/2021): | 208,54 Mio EUR |
| TER p.a. (30/12/2019): | 1,99 % |
| 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 % |
| Advisory Fee p.a.: | 0,35 % |
| Performance Fee p.a.: | up to 10% of the increase in Fund assets in excess of 6% (Hurdle Rate) , High Water Mark over preceding 5 years. |
Ratings & Awards (14/01/2021)
| Morningstar*: |
|
Top Country Allocation (30/12/2020) |
|
|---|---|
| Cayman Islands | 32,11 % |
| Korea, Republic Of | 13,77 % |
| Hong Kong | 13,29 % |
| China | 11,21 % |
| Japan | 7,58 % |
| Taiwan, Province Of China | 5,60 % |
Asset Allocation (14/01/2021) |
|
|---|---|
| Stocks | 97,59 % |
| Cash | 2,41 % |
Investment approach
DJE – Asien focusses on equities with strong substance and growth as well as companies with stable and promising business models from the Asia-Pacific region. 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 sustainable growth, stability of company profits 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
Asian stock markets made good progress across in December with South Korea leading the way. China impressed with continued strong economic data. The new Asia-Pacific Free Trade Area and the election of Joe Biden as new U.S. president made Chinese businessmen very confident, so that, among other things, the Caixin Purchasing Managers' Index for industry reached a 10-year high. Industrial production rose 7% above previous year's level, while exports increased by solid 21% in the same period. The state lawsuits against two major Chinese internet groups (monopolists) only temporarily weighed on the local stock market. In this market environment the price of DJE - Asien rose by 6.16%. Its benchmark, 100% MSCI Daily TR AC Far East Ex Japan, advanced by 3.29%. In December DJE - Asien benefited strongly from its focus on renewable energies and on the sectors industry and technology (both highly weighted in the fund). Thus, at the individual stock level, the strongest performance contributions came from solar glass manufacturer Xinyi Solar and wind turbine manufacturer Xinjiang Goldwind Science & Technology (both from China) as well as Korean battery producer Samsung SDI. In addition the South Korean Samsung Group (Samsung Electronics) and the Taiwanese chip contract manufacturer TSMC (Taiwan Semiconductor Manufacturing) also made very encouraging contributions to the fund's performance. On the other hand the fund's performance was burdened by various individual stocks, including the insurance company PICC (People's Insurance Company of China/China), the conglomerate CK Hutchison Holding (Hong Kong), the hygiene company Vinda International Holdings and the internet company Tencent (both from China). Regionally South Korea and Taiwan performed particularly well in December, as did China (all three regions highly weighted in the fund). In the course of the month the fund management reduced its investments especially in the retail sector. On the other hand, it increased positions in the sector oil & gas and chemicals. Regionally the Hong Kong and China allocations were reduced, while South Korean stocks were increased. The fund management slightly reduced its investment ratio at the end of the month, so that the share of equities decreased to 97.51% (98.86% previous month).
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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.