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Key information
The sub-fund invests primarily in securities and in units of investment funds ("target funds"). The term "securities" includes fixed-interest bonds traded on regulated markets (including zero bonds), variable-interest bonds, convertible bonds and bonds with warrants with options on securities, and equities, equity index certificates, share basket certificates and certificates.
Key information
ISIN: | LU0377287643 |
WKN: | A0Q6BJ |
Category: | Balanced Funds - Flexible |
Minimum Equity: | 25% |
Partial Exemption of Income ¹: | 15% |
VG/KVG: | DJE Investment S.A. |
Fund Management: | DJE Kapital AG |
Risk Category: | 3 |
This sub-fund/fund promotes ESG features in accordance with Article 8 of the Disclosure Regulation (EU Nr. 2019/2088). | |
Type of Share: | accumulation |
Financial Year: | 01.01. - 31.12. |
Launch Date: | 01/08/2008 |
Fund currency: | EUR |
Fund Size (25/07/2024): | 184,10 Mio EUR |
TER p.a. (29/12/2023): | 1,14 % |
Reference Index: | - |
Fees
Initial Charge: | 7,000 % |
Management Fee p.a.: | 0,850 % |
Custodian Fee p.a.: | 0,070 % |
Advisory Fee p.a.: | 0,30 % |
Performance Fee p.a.: 10% of the positive performance of the unit value, provided that 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 [high water mark principle]. I.e. an additional remuneration [performance fee] only accrues again when the net reduction in value achieved has been fully offset. 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. |
no esg data available
- The fiscal treatment depends on the personal circumstances of the respective client and can be subject of change in the future.
Perfomance Chart
Performance in Percent
Rolling performance in %
Risk metrics (25/07/2024) |
|
---|---|
Standard Deviation (2 years): | 6,46 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -4,06 % |
Maximum Drawdown (1 year): | -3,51 % |
Sharpe Ratio (2 years): | 0,00 |
Correlation (1 years): | - |
Beta (1 years): | - |
Treynor Ratio (1 years): | - |
Country allocation total portfolio (% NAV)
*Note: Cash position is included here because it is not assigned to any country or currency.
Data: Anevis Solutions GmbH, own illustration 28/06/2024
Top Country Allocation in % of Fund Volume (28/06/2024) |
|
---|---|
Luxembourg | 95,85 % |
Germany | 1,31 % |
United Kingdom | 0,94 % |
United States | 0,70 % |
France | 0,56 % |
Asset allocation in % of the fund volume (28/06/2024) |
|
---|---|
Funds | 95,85 % |
Bonds | 3,51 % |
Cash | 0,64 % |
Investment strategy
Chances
- Experienced fund manager with an analytical approach that has been tried and tested for many years
- Efficient mixture of equities and bonds with strategic risk diversification
- The opportunities of the global equity and bond markets may be used – the fund is not restricted to one region or country
Risks
- Currency risks resulting from the portfolio’s foreign investments
- Price risks of bonds when interest rates rise
- Previously proven investment approach does not guarantee future investment success
- Issuer country, credit and liquidity risks
- Equities may be subject to significant price falls
Target group
Der Fonds eignet sich für Anleger
- who wish to take advantage of opportunities in both the equity and bond segments
- with a medium to long-term investment horizon
- who seek flexibility in portfolio design
Der Fonds eignet sich nicht für Anleger
- who are not prepared to accept increased volatility
- with a short-term investment horizon
- who seek safe returns
Monthly Commentary
The international stock markets showed a mixed performance in June. The stock markets in Germany and Europe were weak. The German stock index DAX lost -1.42% and the broad European stock index Stoxx Europe 500 fell by -1.30%. In contrast, the broad US stock index S&P 500 was strong, rising by 4.73%. Hong Kong's Hang Seng Index closed the month slightly down by -0.65%. Overall, global equities, as measured by the MSCI World, advanced by 3.18% - all index figures in euro terms. Technology, cyclical consumer stocks and healthcare were the best performing sectors worldwide, while utilities and commodities in particular were disappointing. In Europe, technology and pharmaceuticals also performed well in June, while construction, automotive, commodities and banks were disappointing. As expected, the European Central Bank lowered its key interest rates by 25 basis points to 4.25% - the first rate cut since March 2016. This was made possible by the trend in inflation, which has fallen from 2.9% at the beginning of the year to 2.5% in June compared to the same month last year. At its peak in October 2022, the inflation rate was 10.6%. Inflation in the US also fell slightly to 3.3% in May (April: 3.4%). The core rate (excluding energy and food) fell from 3.6% to 3.4%, a slightly sharper decline. As announced, the US Federal Reserve (Fed) maintained its current key interest rate range of 5.25% to 5.50%. Nevertheless, market expectations remained that the Fed could continue to cut key interest rates this year, albeit to a lesser extent. At the end of the first quarter, market participants on average still expected interest rate cuts of 67 basis points by the Fed's December meeting; at the end of the second quarter, this figure had fallen to 44 basis points. The equity and bond markets were also influenced by the elections to the European Parliament. It was significant for the markets that French President Emmanuel Macron announced an early parliamentary election with a first round of voting on 30 June immediately after the disappointing election result for him - as a result, there was a massive sell-off in French equities and government bonds. The risk premium between French 10-year government bonds and their German counterparts widened to 29 basis points in the week following the election announcement. On the bond markets, German government bonds in particular benefited from the ECB's interest rate cut. Yields on 10-year bonds fell by 16 basis points to 2.50%, while those of their US counterparts fell by just 10 basis points to 4.40%. Gold treaded water in June. The troy ounce fell by -0.02% to USD 2,326.75.