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Key information
The Systematic Return strategy aims at share-based earnings. This strategy enables investors to participate in the profits of companies over the long term, with lower long-term risk parameters than with individual investments.
Responsible manager since 01/04/2015
Key information
ISIN: | LU1181280105 |
WKN: | A14M9P |
Category: | Fund EUR Flexible Allocation - Global |
Minimum Equity: | 51% |
Partial Exemption of Income ¹: | 30% |
VG/KVG: | DJE Investment S.A. |
Fund Management: | Robert Beer Management GmbH |
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: | 01/04/2015 |
Fund currency: | EUR |
Fund Size (01/07/2024): | 6,16 Mio EUR |
TER p.a. (29/12/2023): | 1,83 % |
Reference Index: | - |
Fees
Management Fee p.a.: | 0,160 % |
Custodian Fee p.a.: | 0,090 % |
Management fee p.a.: | 1,000 % |
Performance Fee p.a.: 10% of the [Hurdle: exceeding 12 months Euribor] unit value development, provided that the unit value at the end of the settlement period is higher than the highest unit value at the end of the previous settlement periods of the last 5 years [High Water Mark Principle]. The settlement period begins on 1 January and ends on 31 December of a calendar year. Payment is made at the end of the accounting period. For further details, see the sales prospectus. |
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): | 8,133 |
Environment Rating (0-10): | 6,939 |
Social Rating (0-10): | 5,686 |
Governance-Rating(0-10): | 6,315 |
ESG rating in comparison group (0% lowest, 100% highest value): | 99,230 % |
Peergroup: |
Mixed Asset EUR Flex - Global
(1553 Fonds) |
Coverage rate ESG rating: | 98,773 % |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 84,818 |
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 (1 years): | 7,35 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -4,54 % |
Maximum Drawdown (1 year): | -3,59 % |
Sharpe Ratio (1 years): | 1,21 |
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 | ||
---|---|---|---|
ASML HOLDING NV | 9.65% | ISHARES EURO GOVT BOND 1-3Y | 1.07% |
LVMH MOET HENNESSY LOUIS VUI | 7.19% | ||
TOTAL ENERGIES SE | 5.18% | ||
SCHNEIDER ELECTRIC SA | 4.95% | ||
SIEMENS AG-REG | 4.50% | ||
ESSILORLUXOTTICA | 3.46% | ||
ALLIANZ SE-REG | 2.94% | ||
BASF SE | 2.94% | ||
AIR LIQUIDE SA | 2.89% | ||
DHL GROUP | 2.71% |
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) |
|
---|---|
France | 31,72 % |
Germany | 29,35 % |
Netherlands | 14,87 % |
Spain | 6,58 % |
Italy | 3,86 % |
Asset allocation in % of the fund volume (28/06/2024) |
|
---|---|
Stocks | 86,38 % |
Cash | 12,54 % |
Funds | 1,07 % |
Investment strategy
RB LuxTopic - Systematic Return has a clearly structured investment process. It is based on the three building blocks:
F undamental
S ystematic
R isikoadjusted
F undamental - European top companies
RB LuxTopic - Systematic Return invests in large European groups with strong brands and a stable market position. These companies are often market leaders. They operate globally and generate their earnings not only in Europe, but worldwide. Above all, they are characterized by strong substance, high earnings power, steady growth and attractive dividends.
S ystematic - Systematic Stock Selection - Algorithm
A systematic selection process selects the strongest-trending stocks from the given stock spectrum. The aim of this algorithm is to overweight stronger long-term companies and to underweight or sort out underperforming stocks.
R isikoadjusted - Active Risk Management
Active risk management can be used. If the setback in a falling stock market is smaller due to risk reduction, the investment starts from a higher level when the stock market later rises again.
Chances
- Intelligent investment strategy that systematically adapts to the current situation on the markets
- Stable investment concept, proven in many stock market phases
- Special expertise of the company, as a specialist in systematic and risk-adjusted strategies
Risks
- Country, credit and liquidity risks of issuers
- Shares bear the risk of stronger price declines
- Price risks of bonds in the event of rising interest rates
Target group
Der Fonds eignet sich für Anleger
- with a medium to long-term investment horizon
- seek opportunities through professional asset management
- with a lower risk appetite than equity investments
Der Fonds eignet sich nicht für Anleger
- which do not accept increased fluctuations in value
- with short-term investment horizon
- who strive for a secure return
Monthly Commentary
The stock markets in Europe and North America performed well in May and were largely able to equalise the losses from the previous month. The German stock index DAX rose by 3.16% and the broad European share index Stoxx Europe 600 gained 2.63%. The broad US index S&P 500 rose by 3.18%. The Hong Kong Hang Seng Index achieved a weaker but still positive result with a gain of 0.21%. Global equities, as measured by the MSCI World, advanced by 2.62%. The main driver behind this positive performance was once again market expectations that the doves could prevail over the hawks when it comes to monetary policy. The US Federal Reserve (Fed) announced its intention to sell fewer government bonds and thus adopt a somewhat less steep path for its quantitative tightening in future. At the same time, Fed Chairman Jerome Powell said that an interest rate hike is unlikely to be the next step. As the US labour market also reported fewer newly created jobs in April, concerns about an overheating economy faded. In addition, the inflation rate fell more sharply than expected in April from 3.5% to 3.4% and core inflation (excluding food and energy) from 3.8% to 3.6% - both compared to the previous year. This rekindled hopes of interest rate cuts by the Fed before the end of the year, especially as the markets have firmly priced in a key interest rate cut by the European Central Bank in June. However, the rally on the stock markets began to stutter around the middle of the month, as various data pointed to a persistent inflation trend. For example, the purchasing managers' index for the manufacturing sector in the eurozone surprisingly rose from 45.7 to 47.3 points. Although this means that the index is still below the threshold value of 50, from which an expanding economy is expected, the sharp rise was achieved even without an interest rate cut. In addition, wages in the eurozone rose, which will make a lasting contribution to inflation. And in May, inflation in the eurozone rose again from 2.4% to 2.6% year-on-year. Core inflation also rose from 2.7% to 2.9%. While there had been hopes of several interest rate cuts by the ECB prior to these figures, the markets revised these expectations somewhat. The bond markets reacted very differently to this. In Europe, yields on high-quality government bonds rose slightly. At 2.66%, 10-year German government bonds yielded 8 basis points higher than in the previous month. In contrast, yields on their US counterparts fell by 18 basis points to 4.50% because Powell said an interest rate hike was unlikely. The yield on high-quality European corporate bonds remained virtually unchanged from the previous month at 3.92%, while their US counterparts were 21 basis points lower at 5.52%. European high-yield bonds benefited the most from the prospect of a key interest rate cut by the ECB in June. Their yield fell by 34 basis points to 6.61%, while that of their US counterparts fell by only 11 basis points to 8.00%. Gold rose by 1.78% to USD 2,326.99 per troy ounce in May. Shortly before the middle of the month, when hopes of interest rate cuts in the USA were high, a troy ounce briefly cost USD 2,425.