DJE - Zins & Dividende
Consistency is the key
The balanced mixed fund DJE - Zins & Dividende PA (EUR) was launched around 10 years ago in February 2011. Since then the fund has invested in high-yield international bonds and high-dividend equities. The fund manager, Dr. Jan Ehrhardt, combines expected regular interest income and dividend payments with potential share price gains. Therefore he allocates the two asset classes flexible depending on the expected market situation and without index specifications with the only specification being a maximum bandwidth of 25-50% for equities.
The fund management acts beyond fear - as in the Corona pandemic - and greed as it occurs in euphoric phases, but analyzes calmly the fundamental situation of the markets, the monetary situation and the market sentiment. This is the heart of DJE's investment philosophy. With this consistent, reliable approach the DJE - Zins & Dividende provides its investors access to the earnings potential of bonds and equities, remains balanced and flexible at all times, and is therefore suitable as a basic investment for almost any portfolio.
Fund profil of the DJE – Zins & Dividende
The portfolio of DJE - Zins & Dividende is composed as follows as of 30.12.2020:
High-yield international bonds and high-dividend equities provide steady returns. At the end of 2020, around 50% of the portfolio were bonds and contributed an average interest yield of 3.20% to the fund's result, while the equity component (also just under 50% of the portfolio) contributed a dividend yield of 2.32%.
DJE - Zins & Dividende versus major markets in 20203
During the massive Corona slump in spring 2020, the fund demonstrated the importance of active management by acting flexibly at an early stage and by exploiting the equity floor. While the German stock index DAX declined by more than -38% at its peak, DJE - Zins & Dividende was able to limit its maximum loss to -12.5%. Subsequently, the fund management expanded the equity quota again to take advantage of investment opportunities on the stock markets.
Performance of DJE - Zins & Dividende PA in the years since inception (10.02.2011)3
The DJE - Zins & Dividende has achieved positive performance in each year except 2011 and 2018 and has generated an average return of 5.71% since its launch February 10, 2011.
Rolling performance (5 years) of the DJE Zins & Dividende (EUR)4
Dr. Jan Ehrhardt manages the dividend strategies of DJE Kapital AG, including DJE - Zins & Dividende since the fund was launched in December 2010. As Deputy Chairman of the Executive Board of DJE Kapital AG he is also responsible for Research & Portfolio Management and individual asset management.
Thanks to its attractive risk-return profile, the DJE - Zins & Dividende was awarded the German and Austrian Fund Award in the category "Mixed Funds Global Balanced" in 2018, 2019 and 2020. In 2020 the fund was able to maintain its position in Germany in a field of 462 competitors (2019: 456 competitors).
- The fund aims to achieve the most positive performance possible with minimum fluctuation in any
- Possible share price gains are supplemented by expected interest income from international bonds
and dividend distributions
- Continuous income from interest and dividends can serve as a buffer in the event of price declines.
- The portfolio is continuously adjusted to changing markets.
- The value of an investment may rise or fall and you may not get back the amount invested.
- Income from interest and dividends is not guaranteed.
- Bonds are subject to price risks when interest rates rise.
- Bonds are also subject to country risks and issuer credit and liquidity risks.
- Equities carry the risk of sharper price declines due to specific company developments and general market conditions.
- In the case of securities not denominated in euros, there is a currency risk for euro investors.
1, 2 - Source: DJE Kapital AG. As of Dec. 30, 2020. Average weighted coupon of bonds in the portfolio and average dividend yield of equities in the portfolio. The figures for interest and dividend yields are based on our own calculations. They are not a reliable indicator of the actual performance of the fund. This may deviate positively or negatively. The asset allocation to bonds, equities and cash may deviate marginally from 100% due to the addition of rounded figures.
3, 4 - Source: DJE Kapital AG. As at 30.12.2020 or 22.01.2021. German government bonds = BD Benchmark 10 Year DS Government Index, EUR. High quality corporate bonds worldwide = Bloomberg Barclays Global Aggregate - Corporate Index, EUR. The performance graphs and tables shown are based on own calculations and were calculated according to the BVI method and illustrate past performance. Future results may deviate positively or negatively from these. The gross performance (BVI method) takes into account all costs incurred at fund level (e.g. the management fee), the net performance additionally takes into account the front-end load. Further costs may be incurred individually at client level (e.g. custody fees, commissions and other fees).
Note: All information published is for your information only and does not constitute investment advice or other recommendation. Long-term experience and awards do not guarantee investment success. Securities are subject to market-related price fluctuations which may not be compensated for by the active management of the asset manager or investment advisor. This information cannot replace a personal consultation. All information has been provided with care and to the best of our knowledge at the time of preparation. Despite all due care the data may have changed in the meantime. Further information on opportunities and risks can be found on the website www.dje.de. The sales prospectus and further information are available free of charge in German from DJE Investment S.A. or at www.dje.de The fund management company is DJE Investment S.A. DJE Kapital AG is the distribution agent.