The management of the fund is based on the aforementioned investment philosophy. Focused, active and consistent management is our core premise.
Capital preservation is paramount, as is the achievement of an attractive annualised return, independent of the market. To achieve these objectives, the management of the fund is not governed by any restrictive benchmarks and is not subject to investment ratio constraints.
Apart from its diversification, it also features active allocation management, the strict budgeting of risk positions at both fund and individual stock level and flexible position size management.
The investment process makes use of various forms of capital market analysis. It is aimed at macroeconomic components on a strategic level (fundamental analysis). On a tactical level, which assumes a high priority within the dynamic investment concept, the decisions are primarily based on market technical analysis, but also on the analysis of the modern financial theories, e.g. behavioural approaches and market micro-structures.
The fund management focuses on investment in fixed income securities, equities and currency positions, which offer an attractive balance between risk and return.
The bond share is made up of a broad basket of government bonds, covered bonds, corporate bonds and financial bonds. The equity ratio generally remains between 20 % and 30 %. The focus is on investments in European issuers.
This risk indicator is based on historical data; a prediction of future developments is therefore not possible. The classification of the fund may change in future and does not represent a guarantee. Even a fund that is classified in category 1 does not represent a completely risk-free investment.
The fund is classified in category 4, as its share price fluctuates moderately and therefore the chance of making a profit, but also the risk of loss, can be moderate. When classifying a fund in a specific risk class, it is possible that not all risks are taken into account due to the calculation model. A detailed description can be found in the 'Risk factors' section of the prospectus.