Fund profile

Inception date
Total fund assets 23.0 M EUR
Fund currency EUR
Current issue price EUR54.32 (02/21/2024)
Current return price EUR54.32 (02/21/2024)
Annual high (redemption price) EUR54.90 (02/01/2024)
Annual low (redemption price) EUR53.99 (01/22/2024)
Performance current year 0.00 % (02/21/2024)
ø Performance
Since launch p.a.
1.68 % (02/21/2024)
Issue charge 0.00 %
Redemption charge 0.00 %
End of fiscal year Sep 30
Dividend Payout
Total expense ratio 1.04 % p.a.
Management fee   therefrom 0.87 % p.a.
Custodian fee   therefrom 0.04 % p.a.
Capital accumulation benefits capable no
Savings plan yes (min EUR0.00)
Single payment yes (min EUR0.00)
Conformity yes
Registered for distribution DE

Key figures

Duration of loss in days 674
Sharpe ratio -0.27
Volatility 4.25 %
Max. drawdown -8.48 %
Number of negative months 17
Number of positive months 18
Share of positive months 51.43 %
Worst month -3.47 %
Best month 2.74 %


Morningstar Rating™ Gesamt


Volker Schilling

Volker Schilling

Der Zukunftsfonds started the new year positively and closed January in the C- tranche with +0.57% and in the R-tranche with +0.53%. However, the stock markets showed a very mixed performance in January. While the DAX gained 0.9%, the MDAX fell by 4.3%. The Japanese stock market, on the other hand, had a particularly positive start to the new year, with a gain of +6.5% (calculated in euros). Emerging markets performed poorly, with the MSCI Emerging Markets Index declining by 3%. The main culprit was the Chinese stock market, which experienced a significant decline of -8.4%. In the bond market, there was a similarly varied picture: Long-term German bonds lost 2%, while their US counterparts gained 1.7%. Bitcoin continued its upward trend, closing January with a gain of 3.7%. The price of gold also increased, ending the month with a 1.2% gain.

At the start of the year, we positioned Der Zukunftsfonds cautiously optimistic. The equity allocation at the end of the reporting period is 22%, the bond allocation is 37%, and gold is currently allocated with a weight of 9%. Cryptocurrencies, namely Bitcoin and Ethereum, make up 2% of the portfolio. With a 30% cash position, we currently have the opportunity to react to opportunities in challenging market situations. The upcoming month of February is not statistically known for its strong momentum. However, there are opportunities in undervalued sectors such as commodities and mining stocks.



Investors can participate in the price increases of the international securities markets. The capital is invested broadly in individual stocks as well as different asset classes. Due to the focus on a broad diversification in different asset classes (Equities, bonds, currencies, commodities, precious metals), and due to active risk management, the fund aims to achieve an attractive Risk-Return profile. The fund can use derivatives to hedge exposure against potential losses or increase exposure to achieve higher returns. Investment in foreign currencies may positively influence the fund due to changes in exchange rates.


Although the fund aims to achieve steady growth in value, this cannot be guaranteed. The fund is subject to the typical price change risks and the market cycle of securities markets. It is exposed to the wide variety of general trends and tendencies in the global financial markets, some of which are based on irrational factors.
Transactions with derivatives for hedging purposes reduce the overall risk of the fund but can reduce the return opportunities. If transactions are made with derivatives as part of the investment strategy, the Fund's risk of loss may increase, at least temporarily.
The Fund may be the victim of fraud or other criminal activity. The loss of trading persons may result in an adverse effect on investment performance. Custody Risks: There may be a risk of loss associated with the safekeeping of assets, particularly abroad, which may result from insolvency, breaches of duty of care or abusive conduct by the custodian/sub-custodian. The Fund may enter various transactions with counterparties. If a contractual partner becomes insolvent, it may no longer be able to settle outstanding claims of the fund or may only be able to settle them in part. Information on further risks can be found in the PRIIPS and the VKP.

  • Information on further risks can be found in the KID and the Prospectus.
  • In particular, the fund shows increased fluctuations in the unit price due to its composition and the possible use of derivatives.

This is detail text.