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: | LU0323357649 |
WKN: | A0M67Q |
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 (16/05/2024): | 202,28 Mio |
TER p.a. (29/12/2023): | 1,77 % |
Reference Index: | - |
Fees
Initial Charge: | 5,000 % |
Management Fee p.a.: | 1,550 % |
Custodian Fee p.a.: | 0,070 % |
Performance Fee p.a.: 10% of the unit value development, but no more than 2.5% of the average net fund assets in the accounting period, insofar as the unit value at the end of the accounting period exceeds the unit value at the end of the previous accounting periods. The accounting period begins on 1 January and ends on 31 December of a calendar year. The first accounting period begins on 1.4.2021 and ends on 31.12.2022. Payment is made at the end of the accounting period. For further details, see the sales prospectus. |
Ratings & Awards (16/05/2024)
Morningstar*: |
|
Awards: Best Asset Manager 2023 Place 5 out of 557 funds in the category "Dynamic" in the ranking of Wirtschaftswoche and MMD |
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): | 7,100 |
Environment Rating (0-10): | 6,074 |
Social Rating (0-10): | 5,404 |
Governance-Rating(0-10): | 5,982 |
ESG rating in comparison group (0% lowest, 100% highest value): | 21,430 % |
Peergroup: |
Mixed Asset CHF Flexible
(42 Fonds) |
Coverage rate ESG rating: | 62,070 % |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 192,824 |
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): | 7,61 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -4,85 % |
Maximum Drawdown (1 year): | -4,22 % |
Sharpe Ratio (2 years): | 0,05 |
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 Ten Holdings in % of Fund Volume
Equity Portfolio | Portfolio ex Equities | ||
---|---|---|---|
VISA INC-CLASS A SHARES | 1.68% | Goldbarren | 29.66% |
HOLCIM LTD | 1.57% | US TREASURY (3.50%) | 2.15% |
NOVO NORDISK A/S-B | 1.35% | BUONI POLIENNALI DEL TES (4.40%) | 1.52% |
DEUTSCHE BOERSE AG | 1.31% | FORTUM OYJ (2.1250%) | 1.45% |
NOVARTIS AG-REG | 1.28% | META PLATFORMS INC (3.50%) | 1.36% |
LINDE PLC | 1.25% | MARS INC (3.20%) | 1.31% |
TOTAL ENERGIES SE | 1.25% | ANGLO AMERICAN CAPITAL (4.75%) | 1.05% |
AMAZON.COM INC | 1.22% | NESTLE HOLDINGS INC (4.00%) | 1.04% |
ALPHABET INC-CL C | 1.21% | US TREASURY(2.125%) | 1.01% |
VERIZON COMMUNICATIONS INC | 1.19% | MCDONALD'S CORP (4.125%) | 1.01% |
Current status: 30/04/2024
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 (30/04/2024) |
|
---|---|
United States | 63,10 % |
Germany | 7,70 % |
United Kingdom | 3,64 % |
France | 3,37 % |
Switzerland | 2,86 % |
Asset allocation in % of the fund volume (30/04/2024) |
|
---|---|
Stocks | 38,53 % |
Bonds | 30,27 % |
Commodities | 29,67 % |
Cash | 1,54 % |
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.
Chances
- Attractive initial investment level for global dividend and value stocks
- 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
Risks
- Equity prices may exhibit relatively strong fluctuations depending on market conditions
- Investment in physical precious metals is subject to fluctuations
- 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
- with a medium to long-term investment horizon
- who wish to focus their equity investments on physical precious metals as well as defensive value investments
- who wish to minimise risk compared to a direct investment in gold
Der Fonds eignet sich nicht für Anleger
- who are not prepared to accept increased volatility and temporary losses
- who seek safe returns
- with a short-term investment horizon
Monthly Commentary
The DJE Gold & Stabilitätsfonds rose by 1.14% in April in the fund currency, the Swiss franc. In euro terms, the fund rose by 0.32% due to the depreciation of the Swiss franc against the euro. Gold was able to carry the positive momentum from March into April. In USD terms, the troy ounce rose by 2.53% to 2,286.25 per troy ounce. In euro terms, gold rose by 4.04% to 2,144.76 euros. On the one hand, according to the World Gold Council (WGC), investment demand for gold remained weak throughout the first quarter, with gold ETFs in particular recording outflows. However, this was offset by strong gold purchases (approx. 290 tonnes) by central banks - this is the highest level for a first quarter and the fourth strongest quarter since 2010, when the data series began. The WGC's survey on central bank gold reserves showed that interest rate levels, inflation concerns, geopolitical instability and shifts in the global economy are among the most important issues relevant to gold reserve management decisions. Central banks' demand for gold has been growing structurally for some time. This trend should continue. The US Federal Reserve recently postponed an expected cut in key interest rates in view of rising inflation in the US. However, with regard to the US Federal Reserve's monetary policy, postponed is not cancelled. If the rate of inflation falls again, interest rate cuts are likely to become an issue again in the US, which should support the gold price. The global share index MSCI World fell by -2.86% in April in euro terms. The majority of the MSCI sub-sectors performed negatively. By contrast, the energy (overweight in the fund) and utilities (underweight in the fund) sectors performed positively. The real estate and consumer discretionary sectors (both underweighted in the fund) and technology (overweighted in the fund) experienced the highest price losses. The fund's sector allocation had a negative impact in April compared to the world equity index. The highest performance contributions came from the US internet company Alphabet, the French energy group Total Energies and the British pharmaceutical company Astra Zeneca. In contrast, the Swiss building materials manufacturer Holcim, the German reinsurer Hannover Re and the Japanese semiconductor manufacturer Tokyo Electron were the main detractors. The equity allocation fell slightly to 38.53% (previous month: 38.71%). On the bond side, the broad rise in yields across almost all bond types weighed on the fund's performance. The broad Barclays Global Aggregate Total Return Index fell by -2.54% in US dollar terms. The bond ratio remained almost unchanged at 30.27% compared to 30.05% in the previous month. Liquidity rose from 1.54%.