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: | LU0374457033 |
| WKN: | A0Q5K1 |
| Category: | Equity Funds General Asia/Pacific (ex Japan) |
| 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 (21/09/2021): | 206,86 Mio EUR |
| TER p.a. (30/12/2020): | 0,99 % |
| Reference Index: | 100% MSCI Daily TR AC Far East Ex Japan |
Fees
| Management Fee p.a.: | 0,65 % |
| Custodian Fee p.a.: | 0,10 % |
Ratings & Awards (21/09/2021)
| 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): | 17,17 % |
| Tracking Error (2 years): | 7,90 % |
| Value at Risk (99% / 20 days): | -10,61 % |
| Maximum Drawdown (1 year): | -9,09 % |
| Sharpe Ratio (2 years): | 0,74 |
| Correlation (2 years): | 0,83 |
| Beta (2 years): | 0,82 |
| Treynor Ratio (2 years): | 15,44 |
Top Country Allocation (31/08/2021) |
|
|---|---|
| Cayman Islands | 25,49 % |
| Hong Kong | 16,73 % |
| Japan | 15,38 % |
| China | 10,35 % |
| Bermuda | 7,98 % |
Asset Allocation (31/08/2021) |
|
|---|---|
| Stocks | 96,29 % |
| Cash | 3,71 % |
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
- 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
- Excellent demographic developments make long-term growth in investments in Asia possible
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 Asian stock markets performed well with the exception of Singapore, South Korea and Hong Kong. In China the government's regulatory efforts extended beyond the technology sector to other branches with the aim of avoiding the formation of monopolies and achieving greater social justice. While regulation is likely to burden large corporations more, small and medium-sized companies will be in a better position. Industrial production (+6.4% year-on-year), exports were slightly weaker than expected in July and the purchasing managers' indices for industry and services weakened slightly. In this market environment the price of the DJE - Asia rose 1.57%. Its benchmark index (100% MSCI Daily TR AC Far East Ex Japan) gained 1.51%. In August sectors of the Asian investment region performed mostly positively. The best performing sectors, i.e. with the highest price gains, were energy, utilities, industrials and consumer staples (all four highly weighted in the fund). Underperformer, with the largest price losses, were on the other side the sectors cyclical consumer goods and healthcare (both lowly weighted in the fund) and real estate (highly weighted in the fund). Overall the sector weighting influenced the fund price performance positive in view of the broad Asian equity market in August. At the individual stock level the strongest contribution to the fund’s performance came from the highly weighted positions in the real estate financier HDFC (India), the bicycle components and the accessories manufacturer Shimano (Japan), the insurance group PICC Properties and Casualty and the port operator China Merchants Port Holdings (both China). On the other hand, the fund performance was slowed down by several individual stocks, including the IT company group Alibaba (China), the mining company Rio Tinto (UK/Australia), the composites producer Kingboard Holdings (Hong Kong) and the sporting goods manufacturer Anta Sport (China). During the month the fund management reduced mainly the sectors oil & gas, retail and chemicals. On the other hand, it increased the sectors household goods and financial services. Regionally the weighting of Chinese equities was slightly reduced and the share of Hong Kong and Japanese equities increased. The investment ratio increased an equity share in height of 96.29% (95.18% previous month). Prices denominated in Hong Kong dollars and Japanese yen were partially currency hedged at the end of the month.
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Fund reporting
Prospectus & Reports
Further Documents
Legal Information
The source of all information and responsible for the content and preparation is DJE Kapital AG, unless otherwise stated.
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.
The management company of the funds is DJE Investment S.A., Distributor is the DJE Kapital AG. A summary of investors' rights can be obtained free of charge in English in electronic form on DJE‘s website at Summary of investor rights. The funds described in this marketing document may have been notified for distribution in different EU Member States. Investors' attention is drawn to the fact that the relevant management company may decide to withdraw the arrangements it has made for the distribution of the units of its funds in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.