Fund profile

ISIN DE000A2AQYV6
WKN A2AQYV
Inception date
Total fund assets 139.0 M EUR
Share class currency EUR
Current issue price EUR13,889.29 (10/30/2025)
Current return price EUR13,889.29 (10/30/2025)
Annual high (redemption price) EUR15,467.74 (02/19/2025)
Annual low (redemption price) EUR11,823.61 (04/22/2025)
Performance current year n/a (10/30/2025)
ø Performance
Since launch p.a.
4.18 % (10/30/2025)
Issue charge 0.00 %
Redemption charge 0.00 %
End of fiscal year May 31
Dividend Payout
Total expense ratio 0.85 % p.a.
Management fee   therefrom 0.77 % p.a.
Custodian fee   therefrom 0.06 % p.a.
Capital accumulation benefits capable no
Savings plan no
Single payment yes (min EUR500,000.00)
Conformity yes
Registered for distribution DE , AT

Key figures

Duration of loss in days 252
Sharpe ratio -0.27
Volatility 17.1 %
Max. drawdown -23.56 %
Number of negative months 16
Number of positive months 20
Share of positive months 55.56 %
Worst month -9.65 %
Best month 9.22 %

Comment

In September, the Fed's interest rate cut and continued AI momentum supported the major stock indices. Within the healthcare sector, political headlines dominated the picture: the US Department of Commerce's new Section 232 investigation into imports of medical consumables and devices caused uncertainty among medical technology stocks. In addition, at the end of September, President Trump threatened to impose 100% tariffs on imported branded pharmaceuticals (with exceptions for US investment commitments), which weighed on pharmaceutical stocks. At the individual stock level, technology stocks benefited most after Oracle reported impressive order intake. On the negative side, Bosten Scientific (cardiology technology), Phreesia (patient management), and Insulet (insulin pumps) weighed most heavily. Overall, the fund performed positively in the month under review. In September, we sold our position in Dexcom (blood glucose meters), among others, as safety concerns are currently overshadowing the good fundamental outlook.

09/30/2025

Opportunities

  • Participation in the transformation of the global healthcare market
  • Focus on innovative technologies and services
  • Thematically flexible and adaptable
  • Broad diversification across companies with disruptive potential
  • Experienced and specialized fund management team

Risks

  • Market and sector risks
  • Credit risks
  • Counterparty risks
  • Currency risks
  • In general, any investment carries the risk of capital loss
  • Information on further risks can be found in the Basisinformationsblatt and the VKP .

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