![Maerkte-DJE-Anleger-Webinar](/globalassets/productdetail/mobil/lu0344733745_en.jpg)
Key information
The DJE Gold & Stabilitätsfonds combines various asset classes in an investment strategy aimed at absolute return. The fund invests in precious metals, short-term bank deposits, equities from the sectors basic materials, health care, utilities, real estate, telecommunication and agriculture as well as in Swiss companies and investment grade government bonds. It may also invest in corporate bonds from the above-mentioned sectors. Up to 30% of the fund may invest in physical gold. The total investment in gold (directly or indirectly through certificates) may not exceed 49% of the fund’s assets. The objective of the fund is to generate a steady return. The fund’s currency is the Swiss Franc. However, the fund is managed from a Euro investors perspective, so the performance in Euro is taken into account.
Responsible manager since 01/01/2010
Key information
ISIN: | LU0344733745 |
WKN: | A0NC62 |
Category: | Fund CHF Moderate Allocation |
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: | distribution |
Financial Year: | 01.01. - 31.12. |
Launch Date: | 01/04/2008 |
Fund currency: | CHF |
Fund Size (01/07/2024): | 199,11 Mio |
TER p.a. (29/12/2023): | 1,27 % |
Reference Index: | - |
Fees
Management Fee p.a.: | 0,650 % |
Custodian Fee p.a.: | 0,070 % |
Ratings & Awards (01/07/2024)
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): | AA |
ESG-Qualityrating (0-10): | 7,214 |
Environment Rating (0-10): | 6,039 |
Social Rating (0-10): | 5,499 |
Governance-Rating(0-10): | 6,080 |
ESG rating in comparison group (0% lowest, 100% highest value): | 35,000 % |
Peergroup: |
Mixed Asset CHF Flexible
(40 Fonds) |
Coverage rate ESG rating: | 63,592 % |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 199,780 |
Portfolio allocation according to ESG rating of individual securities
Report date: 28/06/2024
- 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 (01/07/2024) |
|
---|---|
Standard Deviation (2 years): | 7,01 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -4,33 % |
Maximum Drawdown (1 year): | -3,44 % |
Sharpe Ratio (2 years): | 0,55 |
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 Ten Holdings in % of Fund Volume
Equity Portfolio | Portfolio without share | ||
---|---|---|---|
VISA INC-CLASS A SHARES | 1.63% | Goldbarren | 28.84% |
HOLCIM LTD | 1.61% | US TREASURY (3.50%) | 2.20% |
NOVO NORDISK A/S-B | 1.53% | BUONI POLIENNALI DEL TES (4.40%) | 1.46% |
ELI LILLY & CO | 1.44% | FORTUM OYJ (2.1250%) | 1.45% |
NOVARTIS AG-REG | 1.40% | META PLATFORMS INC (3.50%) | 1.36% |
DEUTSCHE BOERSE AG | 1.39% | MARS INC (3.20%) | 1.34% |
ALPHABET INC-CL C | 1.33% | ANGLO AMERICAN CAPITAL (4.75%) | 1.04% |
AMAZON.COM INC | 1.32% | ANGLO AMERICAN CAPITAL (2.625%) | 1.01% |
LINDE PLC | 1.22% | MCDONALD'S CORP (4.125%) | 1.01% |
VERIZON COMMUNICATIONS INC | 1.20% | REPUBLIC OF INDONESIA (2.1500%) | 0.98% |
Current status: 28/06/2024
When buying a fund, one acquires shares in the said fund, which invests in securities such as shares and/or in bonds, but not the securities themselves.
Top Country Allocation in % of Fund Volume (28/06/2024) |
|
---|---|
United States | 61,00 % |
Germany | 8,18 % |
United Kingdom | 4,57 % |
Switzerland | 3,49 % |
Denmark | 3,05 % |
Asset allocation in % of the fund volume (28/06/2024) |
|
---|---|
Stocks | 41,27 % |
Commodities | 28,84 % |
Bonds | 28,82 % |
Cash | 1,08 % |
Investment strategy
The main focus of the DJE Gold & Stabilitätsfonds is gold investments. For generations, gold has been considered a reliable hedge against losses arising from economic crises and in times of rapid inflation. The portfolio also includes dividend-yielding equities, with defensive business models for low-risk diversification. The fund management selects primarily companies with a good asset base, and which have a proven-track record of stable performance even in volatile market phases. In fixed income, the fund only invests in bonds with investment grade ratings. The investment strategy of the DJE Gold & Stabilitätsfonds fund is flexible to adapt to constantly changing market conditions. Foreign currency risks may be hedged.
![Investment approach](/globalassets/investmentconcept/lu0344733745_en.jpg)
Chances
- Under-investment by private and institutional investors and emerging market central banks with strong foreign currency reserves in the asset class of gold
- Investments in gold should have additional potential given the precious metal’s role as a monetary stabiliser in politically, socially and economically uncertain times
- Attractive initial investment level for global dividend and value stocks
Risks
- Investment in physical precious metals is subject to fluctuations
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- Price risks for bonds, particularly when interest rates on the capital markets rise
- Currency risks resulting from the portfolio’s foreign (non-EUR) investments
Target group
Der Fonds eignet sich für Anleger
- who wish to minimise risk compared to a direct investment in gold
- who wish to focus their equity investments on physical precious metals as well as defensive value investments
- with a medium to long-term investment horizon
Der Fonds eignet sich nicht für Anleger
- with a short-term investment horizon
- who seek safe returns
- who are not prepared to accept increased volatility and temporary losses
Monthly Commentary
In May, the DJE Gold & Stabilitätsfonds rose by 0.53% in the fund currency, the Swiss franc. In euro terms, the fund rose by 0.59% due to the appreciation of the Swiss franc against the euro. Gold continued to rise in price. The price of a troy ounce rose by 1.80% to USD 2,327.33. In euro terms, the troy ounce rose by 0.13% to 2,147.48 euros. Towards the middle of the month, the price of gold reached a record high of USD 2,450 per troy ounce as hopes of an interest rate cut in the USA grew stronger due to lower inflation data. However, gold subsequently gave back some of its gains when stronger-than-expected US economic data and hawkish comments from the US Federal Reserve argued against interest rate cuts. The published minutes of the Federal Open Market Committee (FOMC) indicated that the current higher interest rates of 5.25% to 5.50% could be maintained for longer than expected. As a result, market expectations for the first interest rate cut were postponed by 25 basis points until December. Gold was greatly supported by central banks' gold purchases, which also increased in the first quarter of 2024. Further support for the gold price came from China: Chinese households have also been buying more gold again for some time, primarily as protection against a possible further devaluation of the Chinese currency. The global share index MSCI World rose by 2.66% in euro terms. The majority of the MSCI sub-sectors performed positively in May. The sectors that performed best in relative terms - i.e. with the highest price gains - were technology, telecommunications (each overweighted in the fund) and utilities (underweighted in the fund). In relative terms, the worst performers - i.e. with the highest price losses - were the energy (overweight in the fund) and consumer staples (underweight in the fund) sectors. Overall, the sector positioning of the fund had a positive effect on the fund's price performance relative to the world equity index. At the individual stock level, the highest performance contributions came from the positions of the Swiss building materials manufacturer Holcim, the American technology company Nvidia and the Japanese financial services company Sumitomo Mitsui Financial, among others. On the other hand, positions held by German car manufacturer Porsche, German-American industrial group Linde and South Korean electronics group Samsung Electronics, among others, had a negative impact. Compared to the previous month, the fund management moderately increased the equity allocation from 38.53% to 39.52%. The broad bond index Barclays Global Aggregate Total Return Index rose by 1.31% in US dollar terms. The bond ratio remained stable at 29.52% compared to 30.27% in the previous month. Liquidity rose to 1.84%.