DJE - Mittelstand & Innovation PA (EUR)

DJE - Mittelstand & Innovation PA (EUR) Header Image
As at:
144.76 EUR
152.00 EUR

Monthly Commentary

In March, the price of the DJE - Mittelstand & Innovation rose 1.12%. Its benchmark index (30% MDAX Performance Index, 30% SDAX Performance Index, 30% SMIM Price Index, 10% AUSTRIAN TRADED ATX Index) increased 1.66%. In March, the fund benefited mainly from the positive performance of the highly-weighted real estate sector as well as from the base consumption, utility and oil & gas sector. On the other hand the non-basic consumption, information technology and healthcare sector in particular had a negative impact on the performance. The strongest contributions to the performance came from the Paderborn (Germany) battery system manufacturer Voltabox, the real estate company Deutsche Konsum REIT from Potsdam (Germany) and the Luxembourg real estate investment manager Corestate Capital. However, the Munich (Germany) lighting technology company OSRAM Licht, the Swiss technology company Komax and the German Wacker Chemie Group disappointed. During the month the fund management slightly reduced the weighting of the technology and financial services segments. In return, it increased its exposure slightly in the industrial and household goods sector. The country allocation remained nearly unchanged. Because of these adjustments the equity ratio rose 23 basis points to 96.19%.

Legal Information / Disclaimer:

Figures subject to revision by the auditors on the reporting dates. The published information does not constitute investment advice or a recommendation, but only provides a brief summary of the key features of the fund. The current sales documents (Key Investor Information Document, prospectus, annual report and – if the annual report is older than eight months – the semi-annual report) for the respective investment funds form the sole basis for the purchase of securities. The sales documents are available at no charge at the respective fund company, the distribution company or at All data and estimates are indicative and may change at any time. This information is based on our assessment of current legal and tax regulations. The data were carefully compiled, but no guarantee can be given for the accuracy of such information. All data are subject to change. The performance is calculated using the BVI (Bundesverband Investment und Asset Management e.V.) method, i.e. without taking into account the subscription fee. Individual expenses such as fees, commissions and other charges are not taken into account in the data and would have a detrimental effect on the performance if they were. The subscription fees payable reduce the invested capital as well as the performance depicted. Data on past performance are not a reliable indicator of future performance. The tax treatment depends on the individual circumstances of the investor and may be subject to change. Please see the prospectus for more detailed tax information. In connection with brokering fund units, the Dr. Jens Ehrhardt Group and its distribution partners may receive reimbursements from costs charged to the funds by the investment companies in accordance with the respective prospectuses. The units of this fund that are issued may only be sold or offered for sale in jurisdictions in which such offer or sale is permitted. Therefore the units of this fund may not be offered for sale or sold in the USA, or offered for sale or sold to or for the account of US citizens or US persons resident in the USA. This document and the information it contains may not be distributed in the USA. The distribution and publication of this document and the offer or sale of units may also be subject to restrictions in other jurisdictions.

*) © 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.