Kathrein Global Enterprise

Fund report as of 24/05/2018

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
A:AT0000A0Y0Y6
NAV T: 148.40
A: 131.52 EUR
15/02/2013
Capital gains 3.99 EUR
Ordinary income 0.54 EUR
Fund size 27,184,674.16 EUR
Distribution 4.60 EUR (from 3/15)
Fiscal year 12/01-11/30
Operating costs** 1.39

Performance (24/05/2013 - 24/05/2018)

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

Performance

Month 2.80%
YTD 0.55%
1 years 2.37%
2 years (p.a.) 7.27%
3 years (p.a.) 4.15%
5 years (p.a.) 7.55%
10 years (p.a.) nichtrelevant
since inception (p.a.) 8.78%

Key figures

Sharpe ratio* 0.88
Max. drawdown -16.73%
Volatility 9.87%

Asset allocation

Source: Custodian (Raiffeisen Bank International AG)
EXELON CORP._Registered Shares o.N. 9.51 %
Orange S.A._Actions Port. EO 4 6.74 %
Telia Company AB_Namn-Aktier SK 3 20 6.69 %
DAIWA HOUSE INDUSTRY CO. LTD._Registered Shares o.N. 6.34 %
Archer Daniels Midland Co._Registered Shares o.N. 5.97 %
CAE INC._Registered Shares o.N. 5.05 %
Nutrien Ltd_Registered Shares o.N. 4.79 %
SMITH & NEPHEW PLC_Registered Shares DL - 20 4.45 %
Terna Rete Elettrica Nazio.SpA_Azioni nom. EO - 22 4.45 %
CANADIAN UTILITIES LTD._Reg.Shs Cl.A (Non Voting) o.N. 4.30 %
VOESTALPINE AG_AKTIEN O.N. 4.18 %
STANLEY ELECTRIC CO. LTD._Registered Shares o.N. 3.98 %
Snam S.p.A._Azioni nom. o.N. 3.63 %
SHAW COMMUNICATIONS INC._Reg.N-Vtg Part.Shs B o.N. 3.44 %
Jardine Cycle & Carriage Ltd._Registered Shares SD 1 2.90 %
Enagas S.A._Acciones Port. EO 1 50 2.77 %
NTT DOCOMO INC._Registered Shares o.N. 2.68 %
Cash 2.96 %
Getinge AB_Namn-Aktier B (fria) SK 2 2.26 %
JERONIMO MARTINS SGPS S.A._AcУЇУ­es Nominativas EO 1 2.23 %
Others 10.67 %
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 April 2018

The simmering trade conflict as well as the negative outlook for government debt in the USA drove 10 year US Treasury yields above 3 %. The US GDP growth of 2.3 % surprised the markets with a higher than expected 2.3 %, which pushed yields up further. In Europe yields also rose, however weaker leading indicators are nourishing doubts about the sustainability of the European recovery. Stocks markets recovered strongly in April driven higher on the one hand by good quarterly earnings results and a robust economy, but on the other hand interest rate fears and fear of protectionism caution the markets. The US dollar recovered strongly against the EUR and nearly has made up the decline of the first three months.
** '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.