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Kathrein Dynamic Asset Allocation Fund Fund report as of 05/13/2013
 
     
 
Fund profile
The Kathrein Dynamic Asset Allocation Fund is a total return fund with the objective of earning a positive return in all market phases. In order to achieve this goal, the asset allocation is completely flexible with the equity, bond, cash, real estate and commodity exposure each varying between 0-100 %. The decision how to weight the individual asset classes is driven by a quantitative model that examines the asset classes by country, sector or topic in accordance to algorithm that should allow the investor to profit from trends. The implementation is via cost efficient exchange traded funds.
Fund data
ISIN: T: AT0000A0H9L5 | A: AT0000A0H9J9
NAV: T: 95.96 | A: 94.19 EUR
Launch date: 05/17/2010
Capital gains: -2.31 EUR
Ordinary income: -0.42 EUR
Total assets: 21,178,055.10 EUR
Dividend: 0.00 EUR (06/01/2012)
Fiscal year: 05/17-03/31
Operating costs: 1.69
Performance (05/17/2010 - 05/13/2013)
 
Source: Custodian Raiffeisen Bank International AG
Performance  
Month 2.06 %
Year to date 5.41 %
1 years 12.12 %
2 years (p.a.) -0.19 %
3 years (p.a.) -  
5 years (p.a.) -  
Since inception (p.a.) -1.21 %
     
Ratios    
Sharpe ratio -0.25  
Max. drawdown -21.09 %
Volatiltiy (in % p.a.) 8.62 %
     
 
 
 
Asset allocation
 
 
Stock exposure 70.99 %
Bonds exposure 28.80 %
Commodities 2.91 %
Cash -2.71 %
Performance is calculated in accordance with the OeKB method based on data from the custodian. For performance data individual costs, such as the initial sales charge (a maximum of 5% of the amount invested) are not taken into consideration. Depending on the amount, those would decrease performance accordingly. Past performance is no indicator for future developments of a fund. Information subject to change.
Portfolio manager comments as of April 2013
The strength of the U.S. economy in the first quarter surprised many, but effects of the tax increases and government spending cuts began to show their toll in the March data. Nevertheless the March data cannot change the fact that the economy digested this fiscal burden surprisingly well. The hope of a second half recovery in Europe received a damper through the publication of the leading economic indicators. Euro-zone unemployment rose again to a new record of 12 %. With Cypress barely forgotten, the Slovenian banking sector’s problems popped up. The inflation rates in the US and in Europe declined to 1.5 % and 1.7 % respectively. The IMF continued to reduce growth expectations for 2013 to -0.3 % for the Euro-Zone and to 1.9 % for the US. The Italian government bond yields declined below 4 % for the first time since 2010 reflecting the market consensus positive outlook for Euro periphery countries. At the end of April Italy even put together a coaling government under the leadership of Enrico Lettas.
     
 
 
This document is for promotional purpose only and does not constitute an offer or recommendation for the purchase or sale of a financial instrument. The published brochure of this unit trust in its current form including all alterations since first release is at the applicants disposal at Kathrein Privatbank Aktiengesellschaft. For the correctness of the data cannot be taken over any adhesion despite careful investigation and registrations. Total Expense Ratio includes management fee, fund administration costs, custodian and other administrative costs as well audit fees.
 
  KATHREIN PRIVATBANK | privatbank@kathrein.at | www.kathrein.at
 
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