Fund report as of 01/17/2019
The Kathrein Mandatum 70 is an international mixed umbrella fund with a risk profile that is 70% equity and 30% bonds. A part of the share and bond quota is covered by alternative investments such as private equity or hedge funds. The management approach of Kathrein Privatbank is based on quantitative models. The equity fund range is supplemented by Russell MSMM funds. The objective is to compile a widespread diversified portfolio of individual securities, investment categories, regions and management approaches in order to achieve additional income in comparison with a classical 70 - 30 portfolio.
A: 103.75 EUR
|Capital gains||3.54 EUR|
|Ordinary income||0.05 EUR|
|Fund size||8,143,133.62 EUR|
|Distribution||2.70 EUR (from 2/15)|
Performance (01/17/2014 - 01/17/2019)
|2 years (p.a.)||1.02%|
|3 years (p.a.)||3.83%|
|5 years (p.a.)||4.72%|
|10 years (p.a.)||6.31%|
|since inception (p.a.)||2.01%|
|Kathrein US Equity||29.26 %|
|Kathrein European Equity||10.05 %|
|AIS-Amundi MSCI EMERG.MARKETS_Namens-Anteile C Cap.EUR o.N.||6.00 %|
|Others Aktien||12.95 %|
|Kathrein Corporate Bond||3.77 %|
|Kathrein Euro Inflation Linked Bond||3.40 %|
|Kathrein Euro Bond||3.25 %|
|Others Anleihen||10.01 %|
|NDR Active Allocation||8.29 %|
|Kathrein Dynamic Asset Allocation Fund||8.03 %|
|Kathrein Max Return||3.28 %|
|Others Alternativen||0.66 %|
Performance is calculated in accordance with the OeKB method and expressed as a percentage, assuming reinvestment of dividends. Charges such as management fees or other costs charged against the assets of the fund are included, whereas front-end loads (up to 5.00% of the capital invested) have not been included. This will reduce performance proportionate to the specific amount of capital invested. Past performance is not a reliable indicator of future developments of the fund. Tax treatment depends on the investor’s personal situation and may be subject to future changes. *Sharpe ratio: This key figure compares the historical excess return over money market with its historical volatility. It characterizes how well the return of an asset compensates for the risk taken.
Portfolio manager comments as of December 2018
As expected, the US Federal Reserve raised interest rates by 0.25% to 2.5% in December. Nine interest rate hikes since 2015 are a major reason for the pessimism on the markets, which caused the US leading index S & P 500 to lose 9.18% in December. Investors sought safe haven bonds, with yields in the US and Europe falling. 10-year yields fell to 0.24% in Germany and to 2.7% in the USA. Crude oil continued its rapid decline in December, slipping 11.1% to $ 45.41. Also, the agreement between Donald Trump and Xi Jinping on the sidelines of the G2 meeting in Buenos Aires on the suspension of further tariff increases could not dispel investor concerns. There is still no solution in the Brexit question. The domestic political turmoil in the UK does not break, and in some places you can already prepare for a hard Brexit. There is still confidence that an agreement can be made at the last minute.
** 'Current charges' includes the management fee and all fees charged during the previous year. Transaction costs and performance fees are not included in 'current charges'. 'Current charges' can vary from one year to the next. The annual report of the fund includes details about any fees charged (sub-item 'expenses').This document is for advertising purposes only and does not constitute an offer or recommendation for the purchase or sale of financial instruments. The published prospectus as well as the key investor information document pertaining to this investment fund can be accessed in German at www.rcm.at or requested from Kathrein Privatbank Aktiengesellschaft. Despite thorough research and collection of data, Kathrein Privatbank Aktiengesellschaft does not assume liability for nor does it guarantee the accuracy of the data presented.