Investment Strategy
Berenberg Euro Target 2030 is a fund investing in a broadly diversified portfolio of fixed-income securities, predominantly maturing in 2030. For this purpose, the fund invests primarily in EUR-denominated bonds. Foreign currency risks are hedged. The bonds are selected taking into account fundamental aspects as well as risk/return and sustainability-related criteria. Most of the issuers have an investment grade rating. The strategy pursues a buy-and-maintain approach combined with ongoing risk management.
- Broadly diversified EUR bond portfolio with calculable return opportunities.
- 100% repayment of bonds is targeted.
- Annual distribution of income through the collection of interest coupons.
- Added value through active management and individual fundamental analysis.
- The aim is to generate an attractive return in line with the market environment.
- The investment horizon is until 30/11/2030.
Fund data
| ISIN | DE000A41AC64 |
|---|---|
| WKN | A41AC6 |
| Inception date | 03.11.2025 |
| Issue price (21.05.2026) | 99.67 EUR |
| Redemption price (21.05.2026) | 99.67 EUR |
| Fund volume | 29.05 Mio. EUR |
| Share class volume | 2.96 Mio. EUR |
| Currency Fund / Share Class | EUR / 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 | Distributing |
| End of financial year | 31.12. |
| Registration and Distribution | DE |
| SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 8 |
Costs
| Issue surcharge | none |
|---|---|
| Flat-rate fee p.a. | 0.95% |
| Total Expense Ratio (TER) p.a. | 0.92% |
| Performance fee | none |
Chances and risks
| Chances | Risks |
|---|---|
| Broadly diversified EUR bond portfolio with calculable return opportunities. | Price fluctuations due to changes in market interest rates are possible |
| 100% repayment of bonds is targeted. | Temporary price declines due to credit rating downgrades are possible |
| Annual distribution of income through the collection of interest coupons. | The strategy invests in high yield bonds that have a lower credit rating |
| Added value through active management and individual fundamental analysis. | Investors may not get back all of their invested money |
| The aim is to generate an attractive return in line with the market environment | There is no guarantee that the return target will be achieved |
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Currencies
Sectors
Countries
Asset classes
Top Holdings
Monthly market comment
The U.S.-Iran conflict continued to dominate the markets. Several rounds of negotiations on a ceasefire in the Middle East conflict ended without result, while the Strait of Hormuz remained closed to shipping. As a result, energy prices continued to rise, increasing inflationary pressure. The ECB raised its inflation expectation to 4% for the coming twelve months but left its key interest rate unchanged for the time being. Accordingly, euro interest rates rose across the entire yield curve. The yield on five-year German government bonds stood at 2.75%, about 2 basis points higher than at the start of the month. Corporate bonds, on the other hand, remained robust, and risk premiums declined significantly, by 15 bps in the euro investment-grade segment and by 57 bps in the high-yield segment. The European primary market was also character-ized by brisk issuance activity.
Portfolio Management
Felix Stern
Felix Stern joined Berenberg Asset Management more than 25 years ago as a fixed income portfolio manager. Today, the Senior Portfolio Manager heads the Fixed Income Euro Balanced team and is responsible for the selection of defensive bonds from the investment grade segment as well as specializing in short-dated bond concepts. He is also the main portfolio manager responsible for several Berenberg mutual funds. After several years in the market research department of British American Tobacco (Germany) GmbH, the trained industrial clerk switched to fixed income portfolio management at the beginning of 2000. The graduate in business administration completed his studies part-time at the distance learning university in Hagen and also obtained a degree as CCrA - Certified Credit Analyst (DFVA) as well as CESGA – Certified ESG Analyst (DVFA).