Investment Strategy
Investors benefit from the long-term performance of global equity markets, Berenberg's equity expertise and the relatively defensive nature of the fund. The fund management team invests in high-quality companies that is capable of generating above-average and sustainable earnings growth over a long period of time. Invested companies share common features, such as strong structural growth drivers, a differentiated market position, solid balance sheets and successful management teams. To reduce the volatility of the portfolio, the equity investment level is managed around a neutral quota of 90% in line with the published market view of Berenberg investment strategists. Finally, alternative investments are added selectively for diversification.
- Participation in global growth opportunities and trends
- Diversified portfolio with active management of the investment level and addition of alternative investments
- Long-term investment horizon and low portfolio turnover
- Benchmark-agnostic selection
Learn more about our investment philosophy in equity fund management
Fund data
| ISIN | DE000A0MWKG3 |
|---|---|
| WKN | A0MWKG |
| Inception date | 31.10.2007 |
| Issue price (22.03.2023) | 66.99 EUR |
| Redemption price (22.03.2023) | 63.50 EUR |
| Fund volume | 123.89 Mio. EUR |
| Share class volume | 56.30 Mio. EUR |
| Currency | EUR |
| Minimum investment | - |
| Asset Manager | Joh. Berenberg, Gossler & Co. KG |
| Management company | Universal-Investment-Gesellschaft mbH |
| Custodian | State Street Bank International GmbH |
| Use of income | Accumulating |
| End of financial year | 31.12. |
| Registration and Distribution | DE, AT, CH |
| SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 6 |
Costs
| Issue surcharge | Up to 5.50% |
|---|---|
| Management fee p.a. | 1.50% |
| Custodian fee p.a. | 0.10% |
| Total Expense Ratio (TER) p.a. | 1.45% |
| Performance fee | none |
Chances and risks
| Chances | Risks |
|---|---|
| High return potential of stocks over the long-term | High susceptibility of shares to fluctuation, price losses possible |
| Development of growth stocks occasionally above average | Share value may fall below the purchase price at which the customer acquired the share |
| Development of small-cap stocks above average in certain phases | Below-average development of growth stocks possible at times |
| Possible additional earnings through individual value analysis and active management | Below-average development of small stocks possible at times |
| No guarantee of success for individual value analysis and active management | |
| Foreign currency investments and transactions denominated in foreign currencies are subject to exchange rate risks |
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Monthly performance
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 1.54 | 0.87 | 3.64 | -1.07 | 1.43 | -3.41 | 2.72 | -1.91 | 2.32 | 1.95 | 1.65 | 0.64 | 10.64 |
| 2014 | -2.21 | 2.47 | -0.33 | 0.99 | 2.07 | -0.11 | -0.39 | 2.34 | 0.98 | -0.07 | 2.06 | -0.57 | 7.37 |
| 2015 | 5.18 | 4.25 | 1.26 | -0.47 | 1.15 | -3.28 | 1.64 | -6.73 | -3.57 | 6.83 | 2.37 | -5.05 | 2.63 |
| 2016 | -6.60 | -1.01 | 0.63 | -1.04 | 2.54 | -5.57 | 3.42 | 0.28 | 0.88 | -1.10 | 0.74 | 2.95 | -4.32 |
| 2017 | 0.92 | 3.46 | 2.78 | 1.47 | 1.20 | -2.21 | -1.42 | -0.45 | 3.11 | 3.14 | -2.50 | 1.52 | 11.32 |
| 2018 | 2.90 | -2.64 | -3.34 | 3.62 | 4.40 | 0.14 | 3.23 | 1.76 | -1.54 | -7.14 | -0.99 | -7.72 | -7.94 |
| 2019 | 8.26 | 3.29 | 3.58 | 5.38 | -3.41 | 3.17 | 1.52 | 0.12 | 0.82 | 1.70 | 4.71 | 2.32 | 35.82 |
| 2020 | 1.51 | -4.81 | -12.23 | 12.77 | 4.92 | 3.15 | 3.12 | 5.67 | -0.57 | -0.61 | 6.15 | 2.89 | 21.72 |
| 2021 | 1.45 | 2.02 | 1.31 | 4.19 | -2.05 | 6.33 | 0.92 | 2.33 | -4.75 | 4.90 | -2.78 | 1.27 | 15.62 |
| 2022 | -10.68 | -5.42 | 2.34 | -7.02 | -2.94 | -6.51 | 9.01 | -3.97 | -7.98 | 2.39 | 3.07 | -6.06 | -30.32 |
| 2023 | 6.21 | -0.61 | - | - | - | - | - | - | - | - | - | - | 4.96 |
Source: Berenberg, Management company
The charts and tables regarding performance shown here are based on own calculations according to the method developed by the German Investment Funds Association (BVI). They illustrate past performance. Future performance can deviate both positively and negatively from these calculations. Gross performance (BVI method) takes into account all charges at fund level (e.g. management fee), net performance plus the issue surcharge. Additional charges can arise for individual investors (e.g. custody account fees, commissions and other fees). Model calculation (net): An investor wants to purchase fund units for EUR 1,000 EUR. Considering a max issue surcharge of 5.50% he has to payEUR 55.00 for the purchase. Also, fees may be charged for the administration of the safe custody account, which will lower the performance. Past performance is not a reliable indicator of future performance.
Performance after issue surcharge
| 1 year | -15.99% |
|---|---|
| 3 years | 32.26% |
| 5 years | 31.09% |
| since inception | 31.09% |
| Max. Drawdown 5 years | -33.64% |
Source: Berenberg, Management company | State: 22 Mar 2023
Risk figures
| Volatility - 1 year | 17.07% |
|---|---|
| Volatility - 3 years | 15.35% |
| Sharpe Ratio - 3 years | 0.64 |
| Maximum Drawdown - since inception | -42.30% |
Currencies
Sectors
Countries
Asset classes
Top Holdings
Monthly market comment
Meta's shares rose by more than 20% thanks to positive full-year figures and an excellent growth outlook for 2023. Although the outlook for 2023 was below expectations, the shares of Lonza were able to rise significantly. Due to its competitive stake in AI Chat GBT, shares of Microsoft were up slightly in February. Despite good Q4 2022 financials, shares of Royalty Pharma were weak, like other U.S. pharmaceutical stocks. Adobe underperformed in February as the company faces an antitrust lawsuit to block its acquisition of Figma. Shares of Ryman Healthcare remained volatile and gave up some gains as it suffers from declining transactions in the real estate market.
Portfolio Management
Kay Eichhorn-Schott
Kay Eichhorn-Schott has been a Portfolio Manager at Berenberg since October 2017. Kay started his career in the Berenberg International Graduate Program in October 2015 and joined the Wealth and Asset Management division in London after completing the program. He holds a Master of Science in Finance and studied at EBS Business School, University of Bath and Texas A&M University. Kay Eichhorn-Schott is a CFA Charterholder.
Martin Hermann
Martin Hermann has been a Portfolio Manager at Berenberg since October 2017. Before joining Berenberg, he was a Portfolio Manager and Vice President within the award-winning "Europe Equity Growth Team" at Allianz Global Investors. His responsibilities included Deputy Fund Manager for the International Equity Growth Fund. He started his career in 2010 as an Investment Trainee in the Graduate Program at Allianz Global Investors. Martin Hermann holds a Master in Investment Analysis and Corporate Finance from the University of Vienna and is CFA Charterholder.
