Key information
DJE - Asien invests in equities with strong substance and growth in the Asia-Pacific region. In its search for promising stocks, the fund management focuses on companies with attractive fundamental valuations. In addition, the fund management pays attention to an investor-friendly corporate policy with capital returns and share buybacks (shareholder return). The fund invests free of index specifications and uses DJE Research's many years of experience and in-depth knowledge of the Asian markets to generate positive performance.
Responsible manager since inception
Responsible manager since 01/07/2019 as co-manager
Key information
| ISIN: | LU0374456654 |
| WKN: | A0Q5KZ |
| Category: | Asia/Pacific Equity Funds General |
| 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 (07/12/2023): | 99,60 Mio EUR |
| TER p.a. (30/12/2022): | 2,06% |
| Reference Index: | - |
Fees
| Initial Charge: | 5,000% |
| Management Fee p.a.: | 1,650% |
| Custodian Fee p.a.: | 0,100% |
|
Performance Fee p.a.: 10% of the [Hurdle: exceeding 6% p.a.] unit value performance, 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 (07/12/2023)
| Morningstar*: |
|
|
Awards: AA Recognised with the AA rating in Citywire's fund manager ratings |
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): | 6,695 |
| Environment Rating (0-10): | 5,630 |
| Social Rating (0-10): | 5,816 |
| Governance-Rating(0-10): | 4,794 |
| ESG rating in comparison group (0% lowest, 100% highest value): | 74,030% |
| Peergroup: |
Equity Asia Pacific ex Japan
(697 Fonds) |
| Coverage rate ESG rating: | 85,143% |
| Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 176,987 |
Portfolio allocation according to ESG rating of individual securities
Report date: 30/11/2023
Perfomance Chart
Performance in Percent
Risk metrics (07/12/2023) |
|
|---|---|
| Standard Deviation (2 years): | 12,89% |
| Tracking Error (1 years): | - |
| Value at Risk (99% / 20 days): | -8,94% |
| Maximum Drawdown (1 year): | -20,60% |
| Sharpe Ratio (2 years): | -1,37 |
| Correlation (1 years): | - |
| Beta (1 years): | - |
| Treynor Ratio (1 years): | - |
Top Country Allocation (30/11/2023) |
|
|---|---|
| Japan | 24,51% |
| Cayman Islands | 19,66% |
| China | 8,57% |
| Hong Kong | 7,55% |
| Bermuda | 7,49% |
Asset Allocation (30/11/2023) |
|
|---|---|
| Stocks | 90,46% |
| Cash | 9,54% |
Investment strategy
DJE - Asia focuses on equities with strong substance and growth as well as companies with stable and promising business models from the Asia-Pacific region. The RCEP free trade zone, 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 investment process combines fundamental top-down (FMM) and bottom-up analysis. This is to ensure that both opportunities and risks are identified in a timely manner. In the fund, preference is given to companies with attractive earnings growth. The decisive investment criteria include sustained growth, stability of corporate earnings as well as innovative strength and a leading competitive position. The fund management actively controls the investment quotas in regions, countries, sectors or companies of the Asian economic area free of index specifications.
Chances
- Excellent demographic developments make long-term growth in investments in Asia possible
- 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
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
Monthly Commentary
The Asian stock markets performed negatively in October. The South Korean stock market suffered the heaviest losses, followed by Singapore, Thailand and Hong Kong. The smallest losses were recorded in Taiwan and India. The Chinese economy exceeded expectations in the third quarter and grew by 1.3% compared to the previous quarter. However, the purchasing managers' indices surprisingly deteriorated by one point each in October to 49.5 in the manufacturing sector and 50.6 for services. The weakness of the indices is mainly due to the decline in the new-orders sub-component, which stems from lower demand from energy-intensive industries in October. In this market environment the DJE – Asien lost -1.46%. Only the healthcare sub-sector of the Asian investment region performed positively in October. The utilities sector (overweighted in the fund) and the energy sector (underweighted in the fund) performed the best in relative terms, i.e. with the lowest price losses. Relatively the worst performers - i.e. with the largest price losses - were the technology, healthcare and financials sectors (all underweighted in the fund). Overall, the sector weighting had a positive effect in October. At individual stock level, the highest performance contributions came from the Chinese companies Kingboard Laminates Holdings (laminates/chemicals) and Kingboard Holdings (laminates/chemicals) as well as the Japanese company Japan Post Holdings (transport/banking/insurance conglomerate). By contrast, negative performance contributions were made by the Japanese company Takeda Pharmaceutical (pharmaceuticals) and the two Chinese companies Great Eagle Holdings (real estate) and CK Hutchison Holdings (industrial conglomerate), among others. The fund management increased the overweight in the chemicals sector over the course of the month. In addition, it reduced the underweighting of the credit institutions, technology and financial services sectors. On the other hand, the overweighting of the industrials, insurance and healthcare sectors was reduced and the underweighting of the retail, energy and food sectors was further increased. As a result of these adjustments, the fund's investment ratio fell from 85.69% to 80.73%.
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