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 (10.09.2024) | 78.80 EUR |
| Redemption price (10.09.2024) | 74.69 EUR |
| Fund volume | 118.80 Mio. EUR |
| Share class volume | 55.91 Mio. EUR |
| Currency | EUR |
| Minimum investment | - |
| Asset Manager | Joh. Berenberg, Gossler & Co. KG |
| Management company | Universal-Investment-Gesellschaft mbH |
| Custodian | BNP Paribas S.A. Niederlassung Deutschland |
| 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% |
|---|---|
| Flat-rate fee p.a. | 1.56% |
| Total Expense Ratio (TER) p.a. | 1.54% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 2.46 | -0.61 | 2.86 | 0.22 | 1.61 | -1.92 | -3.02 | -2.64 | 7.62 | 2.71 | 15.27 |
| 2024 | 2.35 | 3.57 | 1.16 | -2.38 | 1.90 | 3.16 | -1.50 | 1.11 | - | - | - | - | 7.10 |
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 | 11.93% |
|---|---|
| 3 years | -14.95% |
| 5 years | 33.61% |
| since inception | 54.19% |
| Max. Drawdown 5 years | -33.64% |
Source: Berenberg, Management company | State: 10 Sep 2024
Risk figures
| Volatility - 1 year | 9.86% |
|---|---|
| Volatility - 3 years | 13.80% |
| Sharpe Ratio - 3 years | -0.51 |
| Maximum Drawdown - since inception | -42.30% |
Currencies
Sectors
Countries
Asset classes
Top Holdings
Monthly market comment
The S&P 500 recorded a new all-time high almost every day at the beginning of July, led by Big Tech. However, the weaker-than-expected CPI print led to a rotation. The Berenberg Aktien Global Plus underperformed its benchmark. After the strong performance of the previous months, Microsoft lost some of its gains as, among other things, the reported growth of Azure was below investor expectations. The weaker consumer environment weighed on Amazon shares in July. ASML shares also declined last month. In contrast, Wheaton Precious Metals benefited from the strong relative performance of the gold price. Royalty Pharma shares were also supported by falling interest rates and the announcement of several transactions this year. Danaher published strong figures for the second quarter in July, whereupon the share reacted very favourably and reached a new high for the year. The main reason for this was the strong order growth in the bioprocessing sector. In July, we closed our positions in WuXi Biologics and Pure Storage.
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.
Tim Gottschalk
Tim Gottschalk has been a Portfolio Manager at Berenberg since January 2022. He started his career in the Berenberg International Graduate Program with assignments in Asset Management, Wealth Management and Equity Research. Tim Gottschalk holds a Bachelor of Science in Business Administration and a Master of Science in Finance with Distinction from the University of Cologne with stays abroad in Dublin and Stockholm.
