Rücklagenfonds I
Status: 05/02/2024
Fund profile
ISIN | DE000A1J67R2 |
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WKN | A1J67R |
Inception date | |
Total fund assets | 123.3 M EUR |
Fund currency | EUR |
Current issue price | EUR949.475 (05/03/2024) |
Current return price | EUR949.475 (05/03/2024) |
Annual high (redemption price) | EUR951.015 (04/10/2024) |
Annual low (redemption price) | EUR939.072 (01/09/2024) |
Performance current year | n/a (05/03/2024) |
ø Performance
Since launch p.a. |
0.68 % (05/03/2024) |
Issue charge | 0.00 % |
Redemption charge | 0.00 % |
End of fiscal year | Nov 30 |
Dividend | Payout |
Total expense ratio | 0.52 % p.a. |
Management fee | therefrom 0.45 % p.a. |
Custodian fee | therefrom 0.05 % p.a. |
Capital accumulation benefits capable | no |
Savings plan | no |
Single payment | yes (min EUR100,000.00) |
Conformity | yes |
Registered for distribution | DE , AT |
Key figures
Duration of loss in days | 956 |
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Sharpe ratio | -1.04 |
Volatility | 1.85 % |
Max. drawdown | -9.59 % |
Number of negative months | 15 |
Number of positive months | 21 |
Share of positive months | 58.33 % |
Worst month | -3 % |
Best month | 1.42 % |
Ratings
Morningstar Rating™ Gesamt |
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Comment
BPM - Berlin Portfolio Management GmbH
Once again, the bond markets were somewhat surprised by the robust US economic development and inflation data, which did not signal the hoped-for rapid return to price stability and thus once again dampened hopes of a rate cut. Consequently, Fed Chairman Powell also emphasized in a public appearance on Good Friday that he did not feel driven to cut interest rates in a hurry by the latest data, which signaled a strengthening US economy.
In this environment, market yields were susceptible to fluctuations in March, as it was obviously not so easy to translate the positive economic news (in the sense of an investor in risk-bearing investments such as equities or corporate bonds) into expectations of falling interest rates. Yield premiums on corporate bonds, on the other hand, showed a consistent trend - they continued to fall in line with the greater economic optimism and thus helped the Rücklagenfonds to achieve a very positive result in March.
On the other hand, numerous investors who had positioned themselves at the longer end of the maturity spectrum saw another quarter spoiled by the unclear interest rate outlook. In contrast, the positioning of the Rücklagenfonds at the short end of the maturity curve once again provided investors with very attractive investment results in the first quarter of 2024.
03/28/2024
Opportunities
- Higher potential returns compared to money market investments
- Lower fluctuation margin due to short maturities and high credit ratings
- Significant reduction of investment risk compared to individual investments due to diversification across different sectors and regions
- Interest rate and currency risks are largely hedged
Risks
- Price fluctuations are possible due to market-, sector- and company-specific distortions
- Deteriorations in the creditworthiness of the issuers held can lead to defaults on interest payments or bonds
- 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
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