Key information
The DJE Lux - DJE Multi Flex invests in fixed income bonds, equities, target funds and certificates. Depending on the assessment of the market situation, the fund assets may invest up to 100% of the subfund's assets in target funds or securities. However, it is also possible to invest up to 100% of the sub-fund assets in liquid assets, time deposits or money market instruments in the short term.
Key information
| ISIN: | LU0346993305 |
| WKN: | A0NDNP |
| Category: | Fund of Funds |
| 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: | 01/07/2008 |
| Fund currency: | EUR |
| Fund Size (19/01/2021): | 196,91 Mio EUR |
| TER p.a. (30/12/2019): | 0,65 % |
| Reference Index: | 100% MSCI World |
Fees
| Initial Charge: | 6,00 % |
| Management Fee p.a.: | 0,50 % |
| Custodian Fee p.a.: | 0,07 % |
| Advisory Fee p.a.: | 0,30 % |
Ratings & Awards (19/01/2021)
| Morningstar*: |
|
Top Country Allocation (30/12/2020) |
|
|---|---|
| Luxembourg | 58,80 % |
| Ireland | 23,69 % |
| United States | 7,02 % |
| Jersey | 6,79 % |
| Germany | 4,47 % |
| United Kingdom | 0,02 % |
| Other/Cash* | 0,01 % |
Asset Allocation (19/01/2021) |
|
|---|---|
| Funds | 90,08 % |
| Certificates | 6,73 % |
| Cash | 3,19 % |
Investment approach
Chances
- The selection and weighting of asset classes and securities is based on fundamental, monetary and market analysis - this FMM approach has proven itself for over 45 years
- Maximum flexibility - no restrictions in the choice of investment instruments
- Asset management character through active risk management
Risks
- Previously proven investment approach does not guarantee future investment success
- Share prices can fluctuate relatively strongly due to market conditions
- Currency risks due to foreign content in the portfolio
- Price risks for bonds, especially in the event of rising interest rates on the capital market
Monthly Commentary
In December the relief rally from of previous month continued - albeit more moderately. Corona was also determinant in the last month of the year in negative and positive terms. In Europe many governments imposed tighter lockdown measures, on the other hand, several Covid 19 vaccines were approved and vaccination started in the UK. Stock markets received additional tailwinds from central banks which increased and extended their bond-buying programs (ECB) or plan to continue until employment and inflation will improve (Fed). In Europe and China leading indicators and economic data pointed to a revival of the economy while in the USA indicators declined slightly. A good sign of a reviving economy came from the oil price: Brent crude cost more than $50 per barrel for the first time since March 2020. In this context bond markets showed a mixed performance. In Germany yields of 10-year Bunds was virtually unchanged at -0.57%, while yields of their US counterparts rose from 0.84% to 0.91%. Corporate bonds showed a friendly trend worldwide at the end of the year. Gold rose in price from US$1,774 to US$1,898 per troy ounce. In this market environment the price of the DJE Lux - DJE Multi Flex rose 1.68%. Its benchmark MSCI World index rose 1.15% in euro terms. The strongest contribution to the fund's performance in December came from the sub-fund investing in high-growth mid-cap companies with a focus on the German-speaking region, followed by the target fund investing in smaller US second-line stocks. The equity fund investing in Asia and the sub-fund investing in value European equities (with a focus on Germany) also performed well. In addition the fund benefited from its investment into a gold mining ETF as well as ETFs tracking the U.S. equity market. At sector level the healthcare and regionally Asia and emerging markets in particular delivered positive contributions to fund price performance. Last but not least the certificate on physical gold also ended the month with a strong price increase. On the other hand the target fund investing in Japanese quality companies suffered significant losses. In addition the sub-fund investing in agricultural and food stocks also fell slightly. In the course of the month the fund management reduced this target fund slightly. The share of certificates increased slightly from 6.79% to 7.03%. By the end of December the portfolio contained futures contracts for investment purposes.
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.