Investment Strategy
The Berenberg Multi Asset Balanced fund pursues a balanced strategy comprising equities, bonds, alternative investments and cash. The strategy aims at a balanced participation in the capital market and a long-term focus on structural growth trends and quality companies. The respective investment ratios are actively and dynamically managed based on the relative attractiveness of the asset class. In the equity segment, the focus lies on high-quality growth companies. European issuers with good credit ratings dominate on the bond side. Promising niche segments are covered via active funds. Alternative investments provide uncorrelated returns that stabilize the portfolio.
- Our classic multi-asset strategy for balanced participation in the capital market
- Active positioning against a mixed market benchmark
- Maximum equity allocation of 65%
- The investment universe primarily comprises individual securities, but also funds and ETFs
Learn more about our Berenberg Multi Asset investment philosophy
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Currencies
Asset classes
Top Holdings
Equities - Sectors
Equities - Countries
Bonds - Sectors
Bonds - Countries
Monthly market comment
Growth concerns and speculation about interest rate cuts dominated the markets in September. The US Federal Reserve initiated its cycle of interest rate cuts with a first rate cut of 50 basis points, while the ECB implemented its second rate cut. The decline in inflation in the USA and Europe continued. Most global equity markets ended September in positive territory. Driven by the stimulus measures in China, emerging market equities rose by around 6.5%. Cyclical stocks, particularly in Europe, also benefited. Due to the higher volatility, we expected until the US elections, we increased our positions in US consumer goods stocks such as Procter & Gamble and PepsiCo and sold off more cyclical stocks such as Richemont and the Amadeus IT Group. In the bond segment, we shortened the duration in the wake of the fall in interest rates in Europe. The gold price continued its upward trend and reached a record high, from which the fund benefited due to its significant overweight. Supported by China's announcements and the easing of monetary policy by global central banks, global liquidity is likely to increase further in the coming months, which should have a fundamentally positive effect on risk assets.
Portfolio Management
Dejan Djukic
Dejan Djukic heads up portfolio management at Berenberg. He is responsible for the discretionary mandates and the asset management solutions with multi-asset focus. He is a member of the Asset Allocation Committee and portfolio manager of various multi-asset strategies. After completing his Master’s degree in finance, he began his career at Commerzbank AG. Djukic was there responsible for asset allocation for asset management and fund mandates. He was also a voting member of the global investment committee and managed the bank's largest mutual funds and individual mandates. He then took over responsibility for portfolio management at DZ Privatbank S.A.. The team was responsible for the bank's large and special mandates.
Christian Bettinger
Christian Bettinger, CFA, has been with the company since June 2009. As fund manager of the mutual funds Berenberg Euro Bonds and Berenberg Credit Opportunities, he is responsible for the selection of corporate bonds in the Multi Asset area. After apprenticeship as a banker and studying business administration at the Catholic University of Eichstaett-Ingolstadt, he first went through the trainee program at Berenberg. In February 2010, the business graduate was taken over early as a junior fund manager with a focus on derivatives and fixed income. Bettinger is a CFA-Charterholder, Certified Financial Engineer (CFE) and admitted Eurex trader.
