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Gross performance*
Reported data relates to the past. The performances shown give no indication of future results. The value of units can vary. The performances shown do not take into account charges or subscription and redemption fees. Subscription fees will reduce the return on investment.
* The management fee, custodian bank fee and all other additional costs are taken into account in the calculation of the unit price as stated in the provisions of the contract. Distributions are reinvested. Performance is calculated using the BVI method, which means that the calculations do not include an issuing charge, transaction costs (such as order fees and brokerage fees), custodian bank fees or other management fees. Including the issuing surcharge would reduce performance.
Source: ETHENEA | All data as of : Friday, 30 August 2024
Master data
ISIN | LU0455734433 |
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Dividend policy | Distribution (A) |
Share class | Ethna-DYNAMISCH (A) |
Bloomberg | ETGDYNA LX |
Investment company | ETHENEA Independent Investors S.A. (Société Anonyme) |
Investment category | Balanced fund OECD⁶ |
Total net asset value | 84,30 m EUR |
Share classe volume | 27,36 m EUR |
Offering price | 99,78 EUR |
Nav Price | 95,03 EUR |
Share class currency | EUR |
Minimum investment amount | none |
Term | unlimited |
⁶ This means that the fund may invest in different types of assets (equities, bonds, futures, etc.) as well as in different business sectors whose prices are non-correlated, and only in assets issued in OECD member states. The aim is to reduce risks. The Organisation for Economic Co-operation and Development (OECD) is an international economic research organisation, the members of which — mostly developed countries — all have a democratically elected government and a market economy.
Version date: Friday, 30 August 2024
Equities: includes direct investments only. | Net equities: indicates total exposure to equities (including equity derivatives). It is possible that the combined use of derivatives, which amongst other things allow investors to leverage market movements and/or benefit from price falls (short selling), will mean that short exposure exceeds the equivalent value of direct investments in equities. In this case, a negative value may also appear in the overview. | Other: Types of product that account for 3% or less of the NAV. This item includes the market values of all derivatives, which may also be negative overall. | Cash: includes term deposits, overnight money, current accounts and other accounts. | Source: ETHENEA | All data as of: Friday, 30 August 2024
Source: ETHENEA | All data as of: Friday, 30 August 2024
Source: ETHENEA | All data as of: Friday, 30 August 2024
Yields in %⁷
Year to date 2024 (01.01.2024 - 30.08.2024) | 8,30 |
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Since issuance, annualized yield | 4,76 |
5 years, annualized yield | 4,72 |
3 years, annualized yield | 0,45 |
30.08.2023 - 30.08.2024 | 14,76 |
30.08.2022 - 30.08.2023 | -0,29 |
30.08.2021 - 30.08.2022 | -11,43 |
30.08.2020 - 30.08.2021 | 15,45 |
30.08.2019 - 30.08.2020 | 7,67 |
⁷ Figures on returns relate to the past, give no indication of future results, and do not take into account any reorganisation. An overview of the risks associated with an investment in this fund is included in the prospectus. The portfolio’s net asset value depends entirely on market trends. The management fee, custodian bank fee and all other additional costs are taken into account in the calculation of the unit price as stated in the provisions of the contract. Distributions are reinvested. Performance is calculated using the BVI method, which means that the calculations do not include an issuing charge, transaction costs (such as order fees and brokerage fees), custodian bank fees or other management fees. Including the issuing surcharge would reduce performance.
⁸ The yield to maturity is the real return on an investment, expressed on an annual basis and taking all factors into account: purchase price, including charges; interim income (coupons, dividends); maturity; taxes and levies; amount repaid at maturity.
All data as of: Friday, 30 August 2024
Fees
Subscription fee | up to 5,00 % |
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Management fee | 1,60% p.a. |
Administration fee | 0,10% p.a. |
Redemption Fee | 0,00% p.a. |
Custodian fee | 0,05% p.a. |
Performance fee | 10,00% of the outperformance exceeding 7,00% per annum, provided that previous write-downs have been offset. |
Ongoing charges
- Of which management fees |
2,10%
1,60% |
The "Ongoing costs" mentioned in this section do not include transaction costs. Detailed information on the costs and their impact on your investment can be found in the key Information document (PRIIPs-KID), the sales prospectus and the latest annual report.
The tax rate applicable to Belgian investors ("capital gains tax") is 30% and, if applicable, the withholding tax rate is 30%. The tax on stock exchange transactions related to exit from the sub-fund is 1.32% (max. EUR 4,000).
This fund is a mixed fund under Luxembourg law, in the form of a mutual fund (FCP) quoted in EUR and established for an indefinite period. Each year, your share of the dividends and/or interest received by the fund must be entered on your tax return. You will find more information on this in the prospectus. You can make a detailed calculation at https://www.ethenea.com/en-be/tax-calculator/. This instrument does not provide tax advice. It serves only to help you calculate income. You must always work carefully and make the usual necessary checks, which are your responsibility. The results obtained are based on the data that you enter. Under no circumstances shall ETHENEA Independent Investors S.A. be held liable for any error or omission.
Key figures
Annualised volatility⁹ | 7,56% |
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Sharpe ratio¹⁰ | 1,38 |
Average rating¹¹ | Between AAA and AAA |
Modified duration¹² | 0,33 (0,33) |
Average current yield¹³ p.a. | 1,26% |
Average YTM¹³ p.a. | 3,33% |
⁹ Volatility is a risk indicator showing the degree of fluctuation in a fund’s price over a given period. Volatility is calculated as a standard deviation based on daily returns over 250 days.
¹⁰ The Sharpe ratio is the quotient of the excess return (= return on the fund minus return on a risk-free asset) and the established volatility. When calculating the excess return, we use the EONIA Total Return index to determine the return on a risk-free asset.
¹¹ Note: You will find more information along with definitions of individual ratings (e.g. AAA, BB) in the form of a glossary here.
¹² Effective duration
¹³ Figures on returns relate to the past. Past performance is no indication of future results.
Version date: Friday, 30 August 2024
Risk Indicator
Reason for the categorisation: This share class has been placed in the aforementioned risk class because its unit price is subject to little to medium fluctuation, therefore the profit potential and loss exposure may be low to moderate.
Opportunities
• less exposure to fluctuations in value through the combination of several asset classes and the distribution of investment capital over a number of individual securities (diversification)
• professional Portfolio Management with many years of experience
• active risk management and hedging (emphasis on capital preservation)
• active portfolio management thanks to an Absolute Return approach (objective of achieving positive yields even in weak market phases)
• stability and continuity thanks to a focus on fixed-interest securities
Risks
• credit risks: The Fund may invest part of its assets in bonds. The issuers of these bonds could become insolvent, causing the bonds to lose some or all of their value.
• liquidity risks: The Fund may invest part of its assets in securities that are not traded on a stock exchange or similar market. It may be difficult to find a buyer for such securities in the short term. As a result, the risk that share redemptions will be suspended may increase.
• counterparty risks: The Fund may enter into various transactions with counterparties. If a counterparty becomes insolvent, that party will not be able to meet some or all of its open obligations to the Fund.
• risks relating to the use of derivatives: The Fund may enter into derivative transactions for the purposes listed in the key information documents (PRIIPs-KIDs). This means increased opportunities, but also increased risk of losses. The use of derivatives to hedge against losses may also reduce the profit opportunities of the Fund.
• Operating risks and custodial risks: The Fund may fall victim to fraud or other criminal activities. It may suffer losses through misunderstandings or errors on the part of employees of the investment company or third parties or be hurt by external events, such as natural disasters. There is a risk of loss associated with holding assets in custody, especially abroad. This risk may result from insolvency, negligence or misconduct on the part of the Custodian or a sub-custodian.
Source : Key information documents (PRIIPs-KIDs)
The risk category is an indication of the risk profile attached to an investment in a UCITS or sub-fund. Any change of risk category will be mentioned in the fund’s annual and semi-annual reports.
Version date: Friday, 30 August 2024
Further information
Custodian bank | DZ PRIVATBANK S.A. |
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Country of incorporation | Luxemburg |
Inception date | 10/11/2009 |
Business year end | 31.12. |
Version date: Friday, 30 August 2024
Please read the key information documents (PRIIPs-KIDs) and sales prospectus before investing in the fund. The sales prospectus or key information documents (PRIIPs-KIDs), annual and semi-annual reports, and NAV are available free of charge in French from the finance department of DZ PRIVATBANK S.A., 4, rue Thomas Edison, L-1445 Strassen, Luxemburg, which can also be contacted in the event of a complaint. Complaints may also be submitted to the Financial Ombudsman (Ombudsfin), North Gate II, Avenue Roi Albert II, 8, 1000 Brussels, Tel.: +32 2 545 77 70, Fax: +32 2 545 77 79, E-mail: ombudsman@ombudsfin.be in writing or via an online form available at www.ombudsfin.be/fr/particuliers/introduire-une-plainte/. Official sales documents are also available from the promoter, DEUTSCHE BANK AG, Brussels branch, Marnixlaan 13-15, B-1000 Brussels, and you can find them at the bottom of this page.
Documents
Announcements to unitholders
Annual report
Dividend announcements
Key Information Document (PRIIPs-KID)
Sales prospectus
Semi-annual report
This is a marketing communication. It is for information purposes only and provides the addressee with guidance on our products, concepts and ideas. This does not form the basis for any purchase, sale, hedging, transfer or mortgaging of assets. None of the information contained herein constitutes an offer to buy or sell any financial instrument nor is it based on a consideration of the personal circumstances of the addressee. It is also not the result of an objective or independent analysis. ETHENEA makes no express or implied warranty or representation as to the accuracy, completeness, suitability, or marketability of any information provided to the addressee in webinars, podcasts or newsletters. The addressee acknowledges that our products and concepts may be intended for different categories of investors. The criteria are based exclusively on the currently valid sales prospectus. This marketing communication is not intended for a specific group of addressees. Each addressee must therefore inform themselves individually and under their own responsibility about the relevant provisions of the currently valid sales documents, on the basis of which the purchase of shares is exclusively based. Neither the content provided nor our marketing communications constitute binding promises or guarantees of future results. No advisory relationship is established either by reading or listening to the content. All contents are for information purposes only and cannot replace professional and individual investment advice. The addressee has requested the newsletter, has registered for a webinar or podcast, or uses other digital marketing media on their own initiative and at their own risk. The addressee and participant accept that digital marketing formats are technically produced and made available to the participant by an external information provider that has no relationship with ETHENEA. Access to and participation in digital marketing formats takes place via internet-based infrastructures. ETHENEA accepts no liability for any interruptions, cancellations, disruptions, suspensions, non-fulfilment, or delays related to the provision of the digital marketing formats. The participant acknowledges and accepts that when participating in digital marketing formats, personal data can be viewed, recorded, and transmitted by the information provider. ETHENEA is not liable for any breaches of data protection obligations by the information provider. Digital marketing formats may only be accessed and visited in countries in which their distribution and access is permitted by law. For detailed information on the opportunities and risks associated with our products, please refer to the current sales prospectus. The statutory sales documents (sales prospectus, key information documents (PRIIPs-KIDs), semi-annual and annual reports), which provide detailed information on the purchase of units and the associated risks, form the sole authoritative and binding basis for the purchase of units. The aforementioned sales documents in German (as well as in unofficial translations in other languages) can be found at www.ethenea.com and are available free of charge from the investment company ETHENEA Independent Investors S.A. and the custodian bank, as well as from the respective national paying or information agents and from the representative in Switzerland. The paying or information agents for the funds Ethna-AKTIV, Ethna-DEFENSIV and Ethna-DYNAMISCH are the following: Austria, Belgium, Germany, Liechtenstein, Luxembourg: DZ PRIVATBANK S.A., 4, rue Thomas Edison, L-1445 Strassen, Luxembourg; France: CACEIS Bank France, 1-3 place Valhubert, F-75013 Paris; Italy: State Street Bank International – Succursale Italia, Via Ferrante Aporti, 10, IT-20125 Milano; Société Génerale Securities Services, Via Benigno Crespi, 19/A - MAC 2, IT-20123 Milano; Banca Sella Holding S.p.A., Piazza Gaudenzio Sella 1, IT-13900 Biella; Allfunds Bank S.A.U – Succursale di Milano, Via Bocchetto 6, IT-20123 Milano; Spain: ALLFUNDS BANK, S.A., C/ Estafeta, 6 (la Moraleja), Edificio 3 – Complejo Plaza de la Fuente, ES-28109 Alcobendas (Madrid); Switzerland: Representative: IPConcept (Schweiz) AG, Münsterhof 12, Postfach, CH-8022 Zürich; Paying Agent: DZ PRIVATBANK (Schweiz) AG, Münsterhof 12, CH-8022 Zürich. The paying or information agents for HESPER FUND, SICAV - Global Solutions are the following: Austria, Belgium, France, Germany, Luxembourg: DZ PRIVATBANK S.A., 4, rue Thomas Edison, L-1445 Strassen, Luxembourg; Italy: Allfunds Bank S.A.U – Succursale di Milano, Via Bocchetto 6, IT-20123 Milano; Switzerland: Representative: IPConcept (Schweiz) AG, Münsterhof 12, Postfach, CH-8022 Zürich; Paying Agent: DZ PRIVATBANK (Schweiz) AG, Münsterhof 12, CH-8022 Zürich. The investment company may terminate existing distribution agreements with third parties or withdraw distribution licences for strategic or statutory reasons, subject to compliance with any deadlines. Investors can obtain information about their rights from the website www.ethenea.com and from the sales prospectus. The information is available in both German and English, as well as in other languages in individual cases. Explicit reference is made to the detailed risk descriptions in the sales prospectus. 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