Key information
DJE - Asien invests primarily in solid companies with promising growth prospects in the Asia-Pacific region. The fund management seeks to identify investments with attractive valuations and shareholder-friendly corporate policies such as capital returns and share buybacks (total shareholder return). The fund allocation is independent from market benchmark and uses decades of experience and in-depth Asian expertise of DJE research team to deliver a positive performance.
Responsible manager since inception
Responsible manager since 15/03/2024 as co-manager
Key information
ISIN: | LU0374457033 |
WKN: | A0Q5K1 |
Category: | Fund Asia-Pacific Equity |
Minimum Equity: | 51% |
Partial Exemption of Income ¹: | 30% |
VG/KVG: | DJE Investment S.A. |
Fund Manager: | DJE Kapital AG |
Risk Category: | 4 |
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 (16/05/2024): | 93,30 Mio EUR |
TER p.a. (29/12/2023): | 0,93% |
Reference Index: | - |
Fees
Management Fee p.a.: | 0,650% |
Custodian Fee p.a.: | 0,060% |
Ratings & Awards (16/05/2024)
Morningstar*: |
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All ESG information presented here relates to the fund portfolio shown and is sourced from MSCI ESG Research, a leading provider of environmental, social and governance analysis and ratings.
MSCI ESG RATING (AAA-CCC): | A |
ESG-Qualityrating (0-10): | 7,053 |
Environment Rating (0-10): | 5,595 |
Social Rating (0-10): | 5,764 |
Governance-Rating(0-10): | 5,239 |
ESG rating in comparison group (0% lowest, 100% highest value): | 64,300% |
Peergroup: |
Equity Asia Pacific ex Japan
(689 Fonds) |
Coverage rate ESG rating: | 78,455% |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 149,547 |
Portfolio allocation according to ESG rating of individual securities
Report date: 30/04/2024
- The fiscal treatment depends on the personal circumstances of the respective client and can be subject of change in the future.
- is proprietary to Morningstar and/or ist content providers may not be copied or distributed and is not warranted ob e accurate, complete or timely. Neither Morningstar nor ist content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Perfomance Chart
Performance in Percent
Rolling performance in %
Risk metrics (16/05/2024) |
|
---|---|
Standard Deviation (2 years): | 14,08% |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -9,24% |
Maximum Drawdown (1 year): | -11,85% |
Sharpe Ratio (2 years): | -0,47 |
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 30/04/2024
Top Country Allocation in % of Fund Volume (30/04/2024) |
|
---|---|
Japan | 29,33% |
Cayman Islands | 19,88% |
Hong Kong | 8,97% |
Bermuda | 8,83% |
Taiwan, Province Of China | 7,03% |
Asset allocation in % of the fund volume (30/04/2024) |
|
---|---|
Stocks | 96,62% |
Cash | 3,38% |
Investment strategy
DJE - Asien invests primarily in companies with attractive and promising business models from the Asia-Pacific region. The RCEP free trade zone (Regional Comprehensive Economic Partnership), 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 fund allocation is based on our proprietary fundamental top-down (FMM methodology) and bottom-up analysis. We believe that the combination of global macroeconomic analysis along with bottom-up security selection is essential to balance opportunities and risks. The focus of the fund is companies with attractive revenue and earnings growth, stable earnings, potential for innovation and a leading competitive position. The fund management allocates across regions, countries, and sectors of the Asian economic area, independent from any market benchmarks.
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
Target group
Der Fonds eignet sich für Anleger
- who seek to focus their equity investments on stocks that pay dividends
- who wish to reduce risk compared to a direct investment
- with a medium to long-term investment horizon
Der Fonds eignet sich nicht für Anleger
- with a short-term investment horizon
- who are not prepared to accept increased volatility
- who seek safe returns
Monthly Commentary
Once again, the Asian stock markets did not present a uniform picture in April. The Hong Kong stock exchange posted by far the strongest result. Positive results also came from India, Singapore and the Shanghai stock exchange. By contrast, the markets in Taiwan, Thailand, South Korea and Japan performed negatively. The Chinese economy grew by 5.3% in the first quarter compared to the previous year and by 1.6% compared to the previous quarter, which was stronger than expected. Growth in fixed asset investments, tax relief and strong exports were the main drivers behind this. However, the Chinese purchasing managers' indices are sending mixed signals, with only a moderate slowdown in the manufacturing sector (from 50.8 to 50.4) and a dip in the service sector (from 53.0 to 51.2). Both indices are still in positive territory, but economists expect the government to take further measures to support the economy. In this environment, the DJE - Asien rose by 1.45%. The sub-sectors of the Asian investment region performed predominantly negatively in April. The best performing sectors in relative terms were Technology (underweight in the fund), Consumer Discretionary (overweight in the fund) and Construction & Materials (overweight in the fund). On the other hand, the disappointing sectors included financial services (underweight in the fund), consumer staples (underweight in the fund) and telecoms (underweight in the fund). Overall, the sector weighting had a positive effect on the fund's price performance compared to the benchmark index. At individual stock level, the highest performance contributions came from Great Eagle Holdings (property/hotels), Kingboard Laminates Holding (laminates) and Guangdong Investment (utilities, property). On the other hand, the positions Tokyo Electron (semiconductor equipment), Bank Rakyat Indonesia Persero (bank) and Disco Corp (semiconductor equipment), among others, had a negative impact. The fund management adjusted the portfolio allocation slightly over the course of the month. The overweight in the insurance, travel & leisure and property sectors was increased. The overweight in the Industrial Goods & Services sector was reduced. The underweight in the basic materials and utilities sectors was reduced. The Automotive Manufacturers & Suppliers, Healthcare, Financial Services and Technology sectors were further underweighted. At country level, the share of Australia, China and Hong Kong was increased. On the other hand, the weighting of India, Indonesia, Japan and Taiwan was reduced. As a result of the adjustments, the investment ratio fell from 100.94% to 96.62%. At the end of the month, securities denominated in Hong Kong dollars were currency-hedged against the US dollar.