DJE - Alpha Global is a dynamic and globally investing multi-asset fund. The concentrated portfolio of approximately 50 to 70 individual equities and between 20 to 40 bonds is managed independently of benchmark requirements. The fund management pursues a theme-oriented approach to benefit from current and long-wave trends, including e.g. digital life, demographics and health and green technologies. In general, the strategy focuses on companies with strong substance and above-average growth opportunities combined with attractive valuations. Additional diversification is sought by investing up to 10% of the portfolio in gold. By exploiting global opportunities, the fund offers the possibility of generating an attractive performance.
Responsible manager since 23/01/2017
|Category:||Global Balanced Funds - Flexible|
|VG/KVG:||DJE Investment S.A.|
|Fund Manager:||DJE Kapital AG|
|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.|
|Fund Size (01/07/2022):||146,75 Mio EUR|
|TER p.a. (30/12/2021):||1,85%|
|Management Fee p.a.:||1,600%|
|Custodian Fee p.a.:||0,100%|
Performance Fee p.a.:
10% of the unit value development, provided 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 (01/07/2022)
Scope Award 2022
Best Fund in the category "Mixed Fund Global Flexible" in Austria und Switzerland
Austrian Fund Award 2021
"Outstanding" in the category "Mixed funds global equity-oriented"
Scope Award 2021
Best fund in the category "Mixed Fund Global Flexible" in Germany
|MSCI ESG RATING (AAA-CCC):||AA|
|Environment Rating (0-10):||6,238|
|Social Rating (0-10):||5,558|
|ESG rating in comparison group (0% lowest, 100% highest value):||74,340%|
Mixed Asset EUR Flex - Global
|Coverage rate ESG rating:||85,036%|
|Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales):||204,093|
Report date: 30/06/2022
Performance in Percent
|Standard Deviation (2 years):||9,20%|
|Tracking Error (1 years):||-|
|Value at Risk (99% / 20 days):||-5,76%|
|Maximum Drawdown (1 year):||-14,62%|
|Sharpe Ratio (2 years):||0,56|
|Correlation (1 years):||-|
|Beta (1 years):||-|
|Treynor Ratio (1 years):||-|
Top Country Allocation (30/06/2022)
Asset Allocation (30/06/2022)
TThe selection of individual stocks for DJE - Alpha Global follows a consistent bottom-up approach. This is based on fundamental factors such as market positioning, balance sheet and earnings potential, valuation, management quality and sustainability criteria. The fund management allocates the asset classes flexibly and weights the individual stocks, sectors and countries depending on the expected market situation with the aim of spreading the portfolio risk and taking advantage of the opportunities that arise. Gold is another portfolio component that is low-correlated with equities and bonds and should provide additional stability, with a quota of up to 10% of the portfolio possible. With the offensive risk-reward profile and broad diversification across different asset classes, the fund aims for attractive performance, but also comparatively low volatility.
- The cash quota (up to 49%) can be used flexibly in order to cushion difficult market phases as much as possible.
- Equities enable participation in the growth opportunities of the global equity markets independently of benchmark index specifications.
- Flexible addition of bonds (up to 50%) and other securities such as certificates on precious metals (up to 10% gold) possible.
- Offensive, theme-oriented, global multi-asset fund with ongoing adjustment of its portfolio to the expected market situation.
- Bonds are subject to price risks when interest rates rise, as well as country risks and the creditworthiness and liquidity risks of their issuers.
- In the case of securities not denominated in euros, there is a currency risk for euro investors.
- An investment in precious metals is subject to fluctuations in value.
- Share prices can fluctuate relatively strongly due to market, currency and individual value factors.
In May, as in the months before, share prices initially continued to decline, but turned around in the course of the month and were able to recover some of the losses. The change of direction on the stock markets was accompanied by a changing assessment of risks on the part of market participants. Initially, the focus was on inflation risks, but in the course of the month increasing growth concerns gained more attention. With the growth risks coming more into focus, the hopes of market participants for a less aggressive increase in US key interest rates in the coming months increased. The German stock index DAX held its ground with a gain of 2.06%. The broad European index Stoxx Europe 600 gave up -1.56%, in the US the S&P 500 declined by -1.70%, and Hong Kong's Hang Seng Index was only moderately down by -0.19%. Overall, global equities, as measured by the MSCI World, declined by -1.87% - all index figures in euro terms. On the international stock markets, only just under a third of the sectors performed positively in May. By far the highest price gain was recorded by the energy sector. In addition, the credit institutions, telecommunications and chemicals sectors, among others, achieved positive results. The majority of sectors, however, suffered losses in May. The Retail, Real Estate, Personal Care & Pharmaceuticals, Automobile and Food & Beverages sectors recorded the strongest price declines. In this market environment, the value of the DJE - Alpha Global corrected by -3.82%. The fund benefited in May from its exposure to the energy, utilities, telecommunications and travel & leisure sectors. At the individual stock level, the highest performance contributions came mainly from the oil company Total Energies (France) and the oil and gas company Equinor (Norway). Other strong performers included the telecommunications company Deutsche Telekom (Germany), the energy company Chevron (USA), the energy company Fortum (Finland) and the pharmaceutical company Pfizer (USA). On the other hand, the construction & materials, basic materials, retail, financial services and healthcare sectors were the main detractors from fund price performance in May. At the individual stock level, the gold certificate, the Swiss companies Roche (pharmaceuticals), Nestlé (food) and Sika (special chemicals) as well as the US IT security company Palo Alto Networks were particularly disappointing. In the course of the month, the fund management reduced the weighting of the technology, financial institutions and financial services sectors in particular. On the other hand, it added to the more defensive sectors of healthcare, insurance and utilities. At the country level, it mainly reduced US positions and increased the share of German stocks. The equity ratio rose to 73.85% at the end of the month (72.85% in the previous month). The bond quota amounted to 13.39% (12.40% in the previous month). The gold certificate ratio remained almost stable at 9.26% after 9.01%. The cash ratio declined from 5.74% to 3.50%.