Top mixed funds and fund managers of the year 2025
DJE - Zins & Dividende combines equities and bonds. Thanks to its balanced investment strategy and first-class risk/return ratio, the fund is ranked number 1 in the mixed fund ranking of "Das Investment". And fund manager Dr. Jan Ehrhardt has been named "Fund Manager of the Year 2025".
It is always reassuring to see that continuous and meticulous work pays off. Since its launch, DJE - Zins & Dividende has invested at least 50% of its fund assets in high-quality bonds with an average yield of around 4.3%. In addition, there is an allocation to selected equities with an average dividend yield of currently 3.0%, which accounts for a maximum of 50% of the fund assets.1 The fund thus aims to achieve a steady return from interest and dividend income and combines this with possible share price gains.
With this approach, DJE - Zins & Dividende is ranked first out of over 270 funds in the "Balanced Mixed Funds" category in the crash test conducted by "Das Investment" in November 2024.2 And that's not all: the fund experts from Börse Online, €uro and €uro am Sonntag named Dr. Jan Ehrhardt Fund Manager of the Year 2025 for his performance, attesting to his "high reliability for investors". The Golden Bull, this prestigious award, which has been presented for over 30 years, is awarded to individuals "who have achieved outstanding performance over a long period of time and whose strategy promises above-average investment success in the future".3
The turn of the year now offers a good opportunity to take a brief look back at a successful year for DJE - Zins & Dividende and look ahead to 2025.
2024 with a focus on the USA and defensive bond positioning
There was no shortage of challenges in 2024, partly due to the many geopolitical uncertainties and overly optimistic interest rate expectations with regard to the US Federal Reserve. For Jan Ehrhardt, it was important to focus on US equities and also to be invested in the so-called "Magnificent 7", the tech giants, as the US economy has performed significantly better than other markets. In Europe, on the other hand, he preferred consumer staples, i.e. less cyclical, non-cyclical companies. On the bond side, he took a more defensive position than many other investors, with a shorter duration and a focus on attractively priced corporate bonds from issuers with good business prospects. He and his co-fund manager Stefan Breintner continue to rate these bonds higher than high-quality government bonds from economies with rising debt.
2025 with a broader equity allocation and a focus on high-quality corporate bonds
Ehrhardt believes that the first "Trump effects" have already been priced in for 2025: Following Donald Trump's election as the next US president, US equities have risen once again and the US dollar has appreciated noticeably, partly in anticipation of Trump's announced tariff strategy. The US dollar is likely to gain further. While it was crucial to have a high proportion of US equities in 2024, this could become more pronounced in 2025. On the one hand, the profit margins of US companies are likely to increase, partly due to cost reductions and partly due to the expected fall in corporate taxes in the US. On the other hand, a stronger US dollar should help export-oriented, globally active companies, for example from Europe or Japan, provided they are not hit too hard by tariffs. A weaker euro could also make Europe attractive again as an investment location. Therefore: Investing only in US stocks in 2025 is likely to be too short-sighted.
For the USA, it should continue to be important to pay attention to market breadth. In 2024, the Magnificent 7 were primarily the driving factor behind the good results of the US equity market. This spread could also determine 2025. In addition to technology stocks, other sectors could also come back into focus, such as the pharmaceutical sector, which was rather neglected in 2024, or food stocks. The latter had performed poorly in 2024, but now offer a dividend yield of around 4% again, which is generated from free cash flow - a quality signal.
However, investors can always rely on one thing with DJE - Zins & Dividende: When selecting stocks, a first-class risk/return ratio has been decisive, consistently since the fund's inception. This is the only way to manage a fund with an equity component of up to 50% and at the same time follow the absolute return concept. The aim is to achieve the best possible sustained positive performance with low volatility and to avoid losses as far as possible. This is precisely what makes the fund an attractive basic investment for almost any portfolio.
To the fund profile: DJE - Zins & Dividende
1 - DJE Kapital AG. As at: 29.11.2024. Average weighted coupon of the bonds in the portfolio. This is an average yield of actively managed corporate and government bonds within a portfolio. As at 29.11.2024, the average interest rate of this bond portfolio before costs is 4.3% (yield to maturity). The targeted return is variable and depends on the price and currency performance of the bonds. The average dividend yield of the shares in the portfolio is estimated for 2025. The information on interest and dividend yields is based on our own calculations. They are not a reliable indicator of the actual performance of the fund. This may deviate positively or negatively.
2 - The investment, “Fund crash test”. Published on 7.11.2024 under 272 global balanced mixed funds in the crash test | DAS INVESTMENT. Awards and many years of experience do not guarantee investment success.
3 - Finanzen Verlag. Award of the Golden Bulls in March 2025. More information at www.goldener-bulle.de. Awards and many years of experience do not guarantee investment success.
Note: This is a marketing advertisement. Please read the sales prospectus of the fund in question and the key information document (PRIIPs KID) before making a final investment decision. These documents are available free of charge in German at www.dje.de/en under the fund in question. A summary of investor rights is available free of charge in German in electronic form on the website at https://www.dje.de/media/DJE_Website/Dokumente/Footer/DJE_Investment_S.A_EN/dje_summary-of-investor-rights-02_2022.pdf free of charge. The funds described in this marketing announcement may have been notified for distribution in various EU member states. Investors should note that the respective management company may decide to cancel the arrangements it has made for the distribution of the units of your funds in accordance with Directive 2009/65/EC and Art. 32a of Directive 2011/61/EU. All information published here is for your information only, is subject to change at any time and does not constitute investment advice or any other recommendation. The above-mentioned documents in conjunction with the corresponding annual report and/or semi-annual report are the sole binding basis for the acquisition of the fund in question. The statements contained in this document reflect the current assessment of DJE Kapital AG. The opinions expressed may change at any time without prior notice. All information in this overview has been compiled with due care in accordance with the state of knowledge at the time of preparation. However, no guarantee and no liability can be assumed for the accuracy and completeness.