Fund profile

ISIN DE000A2AQYV6
WKN A2AQYV
Inception date
Total fund assets 140.0 M EUR
Share class currency EUR
Current issue price EUR13,354.74 (09/03/2025)
Current return price EUR13,354.74 (09/03/2025)
Annual high (redemption price) EUR15,467.74 (02/19/2025)
Annual low (redemption price) EUR11,823.61 (04/22/2025)
Performance current year -6.76 % (09/03/2025)
ø Performance
Since launch p.a.
3.70 % (09/03/2025)
Issue charge 0.00 %
Redemption charge 0.00 %
End of fiscal year May 31
Dividend Payout
Total expense ratio 0.86 % 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 1086
Sharpe ratio -0.37
Volatility 17.7 %
Max. drawdown -23.86 %
Number of negative months 17
Number of positive months 19
Share of positive months 52.78 %
Worst month -9.65 %
Best month 9.22 %

Comment

After months dominated by geopolitical and monetary policy issues, corporate reporting took centre stage in July. Healthcare stocks performed well, with around three-quarters of companies that have reported so far exceeding expectations in terms of revenue and earnings.
In this environment, the fund performed well and outperformed the usual sector benchmarks. Laboratory equipment suppliers and suppliers performed particularly strongly, while healthcare services came under pressure due to persistently high costs.
Strong individual stock contributions came from IQVIA Holdings (revenue and profit growth, annual forecast raised) and ResMed (revenue growth and margin expansion).
During the month, we completely sold our position in Cognizant Technology Solutions.

2025/07/31

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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