Kathrein Global Enterprise

Fund report as of 22/02/2018

The Kathrein global enterprise is an equity fund and seeks long-term capital growth while accepting higher (short-term) risks. The equity fund invests at least 51 per cent of its assets in equities and equity equivalent securities of companies which have their seat or focus in North America, Europe or other developed countries. Additionally, the fund may invest also in other securities, e.g. governments, supranationals and / or companies issued bonds and money market instruments and in sight and call deposits. The Fund is actively managed and is not constrained by a benchmark. Derivative instruments may not be used.

Fund data

ISIN T: AT0000A0Y0Z3
NAV T: 142.23
A: 129.44 EUR
Capital gains 5.93 EUR
Ordinary income 1.39 EUR
Fund size 28,602,750.45 EUR
Distribution 4.59 EUR (from 3/15)
Fiscal year 12/01-11/30
Operating costs** 1.39

Performance (22/02/2013 - 22/02/2018)

Source: Custodian (Raiffeisen Bank International AG), Cyberfinancials Datenkommunikation GmbH


Month -5.19%
YTD -4.56%
1 years -2.55%
2 years (p.a.) 7.97%
3 years (p.a.) 4.16%
5 years (p.a.) 7.99%
10 years (p.a.) nichtrelevant
since inception (p.a.) 8.11%

Key figures

Sharpe ratio* 0.81
Max. drawdown -16.73%
Volatility 9.97%

Asset allocation

Source: Custodian (Raiffeisen Bank International AG)
EXELON CORP._Registered Shares o.N. 9.38 %
Terna Rete Elettrica Nazio.SpA_Azioni nom. EO - 22 6.67 %
SMITH & NEPHEW PLC_Registered Shares DL - 20 6.36 %
Orange S.A._Actions Port. EO 4 6.13 %
Telia Company AB_Namn-Aktier SK 3 20 5.26 %
Archer Daniels Midland Co._Registered Shares o.N. 4.52 %
JERONIMO MARTINS SGPS S.A._Acçíes Nominativas EO 1 4.45 %
Total S.A._Actions au Porteur EO 2 50 4.40 %
DAIWA HOUSE INDUSTRY CO. LTD._Registered Shares o.N. 4.38 %
SHAW COMMUNICATIONS INC._Reg.N-Vtg Part.Shs B o.N. 4.19 %
SKF AB_Namn-Aktier B SK 0 625 3.94 %
Nutrien Ltd_Registered Shares o.N. 3.94 %
Snam S.p.A._Azioni nom. o.N. 3.84 %
Yara International ASA_Navne-Aksjer NK 1 70 2.88 %
HITACHI CONSTR. MACH. CO. LTD._Registered Shares o.N. 2.58 %
TOYO SUISAN KAISHA LTD._Registered Shares o.N. 2.41 %
USS CO. LTD._Registered Shares o.N. 2.23 %
Jardine Cycle & Carriage Ltd._Registered Shares SD 1 2.15 %
KEISEI ELECTRIC RAILWAY CO.LTD_Registered Shares o.N. 2.10 %
Others 12.95 %
Performance is calculated in accordance with the OeKB method based on data from the custodian (in case of suspension of redemption based on possible indicative data). For performance data individual costs, such as the initial sales charge (a maximum of 3.50% 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. The price of the financial instuments into the fund (especially of shares) may significantly change, the possibility of loss of capital can not be excluded. When investing in forreign currencies the value of the fund can vary according the exchange rate. *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.