Fund report as of 22/02/2018
The Kathrein Mandatum 100 is an international mixed equity fund. 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 selection of equity securities is based on a model based on analyst-expectation, sector momentum and fundamental data. The equity fund range is supplemented by Russell MSMM funds. The objective is to compile a widespread diversified portfolio of individual securities, sectors, regions and management approaches.
A: 83.72 EUR
|Capital gains||3.90 EUR|
|Ordinary income||0.41 EUR|
|Fund size||6,416,634.99 EUR|
|Distribution||2.50 EUR (from 2/15)|
Performance (22/02/2013 - 22/02/2018)
|2 years (p.a.)||10.56%|
|3 years (p.a.)||4.62%|
|5 years (p.a.)||9.66%|
|10 years (p.a.)||4.57%|
|since inception (p.a.)||0.61%|
|Kathrein US Equity||43.61 %|
|Kathrein European Equity||17.42 %|
|RIC Japan Equity||6.76 %|
|Kathrein Global Enterprise||6.41 %|
|RIC Asia Pacific ex Japan Equity||3.02 %|
|SSgA Canada Index Equity||2.47 %|
|Kathrein Max Return||7.28 %|
|Kathrein Dynamic Asset Allocation Fund||4.95 %|
|NDR Active Allocation||4.91 %|
|SGAM Private Value Fund||1.84 %|
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 January 2018
Economic growth should be strong to start 2018 as economic confidence indicators around the world remain strong. In the USA, the government shutdown was brief and therefore should have no impact on economic growth. The positive indicators led to an increase in government bond yields in medium and long dated bonds in the USA and Germany. This increase was mild in the Euro-zone periphery. The political situation in Washington and the regained trust in the EUR continue to weigh on the US-dollar. The effect of the US tax reform led to an expectation of higher earnings expectations and therefor supported the continuation of the bull market.
** '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.