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: | LU1181278976 |
WKN: | A14M9N |
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 (16/05/2024): | 6,24 Mio EUR |
TER p.a. (29/12/2023): | 2,67 % |
Reference Index: | - |
Fees
Initial Charge: | 5,000 % |
Management Fee p.a.: | 0,760 % |
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 (16/05/2024)
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): | 8,054 |
Environment Rating (0-10): | 6,882 |
Social Rating (0-10): | 5,618 |
Governance-Rating(0-10): | 6,250 |
ESG rating in comparison group (0% lowest, 100% highest value): | 99,280 % |
Peergroup: |
Mixed Asset EUR Flex - Global
(1536 Fonds) |
Coverage rate ESG rating: | 98,790 % |
Weighted average CO₂ intensity (tons of CO₂ per 1 million US dollars in sales): | 86,394 |
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 (1 years): | 6,94 % |
Tracking Error (1 years): | - |
Value at Risk (99% / 20 days): | -4,26 % |
Maximum Drawdown (1 year): | -3,67 % |
Sharpe Ratio (1 years): | 1,41 |
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 | ||
---|---|---|---|
ASML HOLDING NV | 8.52% | ISHARES EURO GOVT BOND 1-3Y | 1.07% |
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) |
|
---|---|
Germany | 32,68 % |
France | 29,49 % |
Netherlands | 14,55 % |
Spain | 7,07 % |
Italy | 4,02 % |
Asset allocation in % of the fund volume (30/04/2024) |
|
---|---|
Stocks | 87,22 % |
Cash | 11,71 % |
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
- Stable investment concept, proven in many stock market phases
- Intelligent investment strategy that systematically adapts to the current situation on the markets
- Special expertise of the company, as a specialist in systematic and risk-adjusted strategies
Risks
- Shares bear the risk of stronger price declines
- Price risks of bonds in the event of rising interest rates
- Country, credit and liquidity risks of issuers
Target group
Der Fonds eignet sich für Anleger
- with a lower risk appetite than equity investments
- with a medium to long-term investment horizon
- seek opportunities through professional asset management
Der Fonds eignet sich nicht für Anleger
- which do not accept increased fluctuations in value
- who strive for a secure return
- with short-term investment horizon
Monthly Commentary
After a strong first quarter, the international stock markets largely went into reverse in April. The development of US inflation was a particular burden, but Iran's attack on Israel also briefly caused high volatility. The German stock index DAX closed the month down -3.03%, while the broad European share index Stoxx Europe 600 fell by only -1.52%. In the USA, the S&P 500 fell by -3.11%. By contrast, Hong Kong's Hang Seng Index provided a counterpoint, rising by 8.63%. Overall, global equities, as measured by the MSCI World, fell by -2.86% - all index figures in euro terms. With the correction on the equity markets, risk premiums on corporate bonds and US high-yield bonds widened on the bond markets and interest rates on 10-year US Treasuries rose. The equity markets were burdened above all by the development of US inflation. In March, the inflation rate rose to 3.5% (February: 3.1%) compared to the same month last year. Core inflation, excluding the more volatile prices for food and energy, remained unchanged from the previous month at 3.8%. The US labour market remained stable in March with over 300,000 new jobs created. And the US economy grew by 1.6% in the first quarter compared to the previous quarter - weaker than expected, but significantly stronger than the eurozone, whose economy grew by 0.3% and was thus able to avoid a technical recession. As a result, expectations for interest rate cuts in the US declined even further and largely changed to the view that the US key interest rate plateau would remain at the current level of 5.25 to 5.50% for the time being. For the eurozone, however, the markets continue to expect a rate cut, which is expected to be announced at the June meeting of the European Central Bank. Inflation data supported these expectations, as inflation in the eurozone fell from 2.6% in February to 2.4% in March and stagnated at this level in April (compared to the same month in the previous year). Core inflation fell from 2.9% to 2.7%. The greatest inflationary pressure in the eurozone recently came from the services sector at 3.7% year-on-year. The Purchasing Managers' Index for this sector has been in expansionary territory since February of this year, i.e. above the threshold of 50 points, and rose to 53.3 (from 52.9) points in April. In contrast, the Purchasing Managers' Index for the manufacturing sector has remained stable in recessionary territory since August 2022 and currently stands at 45.7 points. In China, the official purchasing managers' index weakened slightly to 50.4 points, but remained in positive territory (previous month: 50.8). Its counterpart for services fell to 51.2 in April after 53.0 points in March. The Chinese economy grew more strongly than expected in the first quarter at 5.3% compared to the previous year and 1.6% compared to the previous quarter. Growth in fixed asset investments, tax relief and strong exports were the main drivers behind this. What kept the markets on tenterhooks in the middle of the month was Iran's attack on Israel and Israel's response, which caused the VIX volatility index to spike to its highest level of the year and drove up the price of oil. The price of Brent crude was around USD 87 at the beginning of the month and reached USD 92 around the time of the attack, but fell back to USD 86 at the end of the month. Gold was also in high demand. Over the month as a whole, the price of a troy ounce rose by 2.53% to USD 2,286.25, but was quoted at USD 2,390 in the meantime.