GREIFF "special situations" Fund -R-
Status: 06/18/2025
Fund profile
| ISIN | LU0228348941 |
|---|---|
| WKN | A0F699 |
| Inception date | |
| Total fund assets | 52.5 M EUR |
| Share class currency | EUR |
| Current issue price | EUR77.34 (06/19/2025) |
| Current return price | EUR73.66 (06/19/2025) |
| Annual high (redemption price) | EUR74.14 (05/22/2025) |
| Annual low (redemption price) | EUR71.13 (01/15/2025) |
| Performance current year | 3.59 % (06/19/2025) |
| ø Performance
Since launch p.a. |
2.17 % (06/19/2025) |
| Issue charge | 5.00 % |
| Redemption charge | 0.00 % |
| End of fiscal year | Jun 30 |
| Dividend | Payout |
| Total expense ratio | 2.06 % p.a. |
| Management fee | therefrom 1.75 % p.a. |
| Custodian fee | therefrom 0.04 % p.a. |
| Capital accumulation benefits capable | no |
| Savings plan | no |
| Single payment | yes (min EUR0.00) |
| Conformity | yes |
| Registered for distribution | DE , LU , AT |
Key figures
| Duration of loss in days | 881 |
|---|---|
| Sharpe ratio | -1.36 |
| Volatility | 3.24 % |
| Max. drawdown | -9.93 % |
| Number of negative months | 22 |
| Number of positive months | 14 |
| Share of positive months | 38.89 % |
| Worst month | -2.32 % |
| Best month | 2.24 % |
Comment
Dirk Sammüller
M&A activities remained at a low level, as is to be expected seasonally, and were therefore not even remotely as spectacular as the movements of the stock markets in August. After more than a year of "approaching", the Abu Dhabi National Oil Company, or Adnoc for short, appears to be about to complete its due diligence and is therefore ready for a takeover offer for Covestro. Market participants have then started to price in an offer from Abu Dhabi of EUR 62 per Covestro share. Software AG has closed its trading chapter for the time being, the squeeze-out has been entered in the commercial register and the stock exchange listing has been discontinued. Otherwise, more was happening behind the scenes than in front of the scenes. Deutsche Bank, for example, reached settlements with a large number of the plaintiffs in the legal dispute over the Postbank takeover. Including interest, an agreement of EUR 56 was reached. The Greiff "special situations" Fund could benefit significantly if a similar additional payment is made in the squeeze-out proceedings. A bombshell in court! The Federal Fiscal Court ruled, based on the case law of the European Court of Justice, that foreign funds must also be granted the tax benefits regulated in Section 11 of the Investment Tax Act 2004, including an interest rate of 6 % p.a. For the fund, this would be a very positive development in view of the period and the amount of taxes withheld.
08/30/2024
Opportunities
Exploiting opportunities for growth in the bond and equities markets.
Generating interest income from current yield. Additional income may be earned as a result of rating upgrades
Active interest, currency and risk management. When investing in assets denominated in foreign currencies, the fund unit value may be positively affected by changes in exchange rates.
Hedging opportunities through the possible use of derivatives.
Risks
Prices may be negatively affected by the issuers' country, default and liquidity risks, as well as exchange rate risks. In the case of thinly traded securities, there is also a risk that selling the asset will not be possible or will be possible only at a substantial discount.
Share prices may fluctuate sharply due to market conditions, and prices may fall at any time.
When investing in foreign currencies, the fund's unit value may be negatively affected by changes in exchange rates.
If derivatives are used, it is possible that the value of the fund will be affected more negatively than would have been the case if the assets were purchased without using derivatives. This may in turn increase the fund's risk of loss and volatility (fluctuation in value).
- Information on further risks can be found in the key information document and the sales prospectus to the fund composition and the possible use of derivatives, the share price shows increased fluctuation
- Information on further risks can be found in the Basisinformationsblatt and the VKP .
- In particular, the fund shows increased fluctuations in the unit price due to its composition and the possible use of derivatives.
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