Key information
DJE - Umwelt & Werte is a global equity fund that places particular emphasis on the sustainability factors of environment, social issues and good corporate governance (ESG) when selecting stocks. Companies are considered as acting responsibly if they contribute to achieving the Paris climate targets (environment) or have a positive impact on society through products, processes or special commitment, or companies that do not have a negative impact on society or whose positive impact justifies the negative impact (social). The fund management pursues a best-in-class approach. The fund aims to achieve an appropriate increase in value, taking into account the investment and sustainability risks. The sub-fund is a product in accordance with Art. 8 of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosure requirements in the financial services sector. Further fund information pursuant to Article 10 of the aforementioned Regulation can be found on DJE's website under the heading Company/Responsible Investing.
Responsible manager since 12/11/2021
Key information
| ISIN: | LU2262057305 |
| WKN: | A2QHT5 |
| Category: | Global ESG-Focused Equity Fund (Art. 8 OVO) |
| VG/KVG: | DJE Investment S.A. |
| Fund Manager: | DJE Kapital AG |
| Risk Category: | 6 |
| 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: | 04/01/2021 |
| Fund currency: | EUR |
| Fund Size (19/05/2022): | 13,60 Mio EUR |
| TER p.a. (30/12/2021): | 1,18 % |
| Reference Index: | |
Fees
| Management Fee p.a.: | 0,490 % |
| Custodian Fee p.a.: | 0,060 % |
ESG Data
| MSCI ESG RATING (AAA-CCC): | AAA |
| ESG-Qualityrating (0-10): | 8,646 |
| Environment Rating (0-10): | 6,865 |
| Social Rating (0-10): | 5,812 |
| Governance-Rating(0-10): | 5,635 |
| Coverage rate ESG rating: | 92,840 % |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 107,511 |
Report date: 29/04/2022
Perfomance Chart
Performance in Percent
Risk metrics |
|
|---|---|
| Standard Deviation (2 years): | 11,69 % |
| Tracking Error (1 years): | - |
| Value at Risk (99% / 20 days): | -7,83 % |
| Maximum Drawdown (1 year): | -20,58 % |
| Sharpe Ratio (2 years): | -0,60 |
| Correlation (1 years): | - |
| Beta (1 years): | - |
| Treynor Ratio (1 years): | - |
Top Country Allocation (29/04/2022) |
|
|---|---|
| United States | 27,99 % |
| Germany | 24,32 % |
| Denmark | 10,53 % |
| France | 5,83 % |
| United Kingdom | 4,06 % |
Asset Allocation (29/04/2022) |
|
|---|---|
| Stocks | 97,07 % |
| Cash | 2,93 % |
Investment approach
In the face of climate change, 195 countries are pursuing the goal of limiting global warming to "well below" two degrees Celsius compared to the pre-industrial era, according to the Paris Climate Change Agreement of 2015. International and national efforts - in Germany, for example, the energy turnaround - to reduce CO2 emissions are influencing economies around the globe and opening up opportunities in many sectors and thematic areas, such as energy generation through wind and solar power or through green hydrogen, energy storage, the automotive industry (keyword e-mobility), infrastructure, technology, the agricultural sector or chemicals. DJE works with MSCI ESG Research, a leading international provider of environmental, social and governance (ESG) analysis. The investment universe is screened on the basis of these filters. The fund management of DJE - Umwelt & Werte analyses the closer selection qualitatively and invests in what it considers to be the most promising stocks from an ESG point of view. The focus is on companies that have a positive impact on society and the environment. Companies are excluded if their business practices violate the United Nations' guidelines on human and labour rights or environmental protection, if they promote corruption or if they generate more than 5% of their sales through weapons, gambling, nuclear energy, coal from power plants or genetically modified seeds, for example.
Chances
- Participation in international equity market development
- Special focus on responsibly operating companies
- No regional restrictions - the focus can be placed on those regions whose capital market development is currently promising
- Stock selection is based on fundamental, monetary and market analysis - this FMM approach has proven itself for over 45 years
Risks
- Share prices can fluctuate relatively strongly due to market conditions
- The unit value can fall at any time below the purchase price at which the client acquired the unit
- The FMM method does not guarantee investment success
- Country and creditworthiness risks of the issuers
- No guarantee that responsibly operating companies will outperform the market as a whole
Monthly Commentary
April was a difficult month for the stock markets. A whole range of risk factors weighed on the stock markets: the war in Ukraine and fears of further escalation weighed on sentiment and increased investor pessimism. Energy prices remained at a high level, but did not rise much further, mainly because demand from China's manufacturing industry declined significantly. In addition the lockdown in Shanghai caused a traffic jam in the busiest container port, which further strained the already tight global supply chains. Therefore the price pressure remained high on energy, many commodities and food. Inflation rose to 8.5% in the USA (in March) and to 7.5% in the euro area compared to the same month last year, which increased the pressure on central banks to raise key interest rates. On the international stock markets, about one third of the sectors performed positively in April. The highest gains were recorded by the sectors food & beverages and personal care & pharmaceuticals. The sectors energy, utilities and healthcare s, also achieved positive results. The other sectors, however, suffered losses in April. The strongest price declines were recorded by the sectors media, technology, automotive, financial services and retail. In this market environment the price of DJE -Umwelt & Werte corrected -1.70%. The fund benefited in April primarily from the good results of the defensive sectors healthcare (with the main drivers being US stocks) and household goods, as well as utilities and energy. The highest value contributions came from the pharmaceutical companies Novo Nordisk (Denmark) and Merck (USA) as well as the energy provider Encavis (renewable energies; solar parks and onshore wind power plants/Germany). On the other hand, the exposure to the technology sector (interest rate hikes are a burden) had a negative impact on the fund's performance. Negative contributions were also delivered by the industrial sector (cyclical prices with negative results; but underweighted in the fund) and the financial sector (asset managers and banks in particular are a burden). Particularly disappointing among the individual stocks was the performance of the US companies Nvidia (microelectronics; IT), Alphabet (internet services; parent company of Google) and Amazon (online mail order). During the month the fund management reduced the weighting of the sectors technology (interest rates are a burden) and real estate (interest rates and inflation are a burden) in particular. It also reduced the titles of wind turbine manufacturers. On the other hand, it increased the sectors healthcare (defensive, non-cyclical sector), utilities and energy (defensive; energy crisis in Europe). Regionally mainly US and German positions were increased. The equity ratio remained almost stable at 97.07% (97.88% previous month). At the end of the month there were hedges through derivatives. At the end of the month there were still no currency hedges for prices denominated in US dollars.