Investment Strategy
The Berenberg Sentiment Fund invests in a well diversified portfolio of different asset classes. The underlying investment philosophy aims to generate positive returns over the entire market cycle by analysing globally written and spoken news in different languages (alternative data). Latest technology enables us to turn this unstructured data into actionable insights and use these for the prediction of price movements in financial markets.
Several hundred thousand global and unstructured real-time messages are analysed daily with latest Machine Learning technology and transformed into investment decisions, this process is fully automated. In addition, to the income from the active investment decision from sentimentmodels, ongoing interest income is to be generated through a bond floor portfolio.
- Globally diversified macro fund based on alternative sentiment data (market sentiment) and state-of-the-art technology.
- Less exposure to the development of the equity and bond markets.
- Good and highly diversified addition to many other fund concepts
- Investment universe with a focus on the asset classes commodities and currencies
Fund data
| ISIN | DE000A1C0UD3 |
|---|---|
| WKN | A1C0UD |
| Inception date | 30.06.2010 (Strategy was substantially changed as of 01.10.2022) |
| Issue price (30.05.2023) | 97.45 EUR |
| Redemption price (30.05.2023) | 92.81 EUR |
| Fund volume | 18.63 Mio. EUR |
| Share class volume | 5.52 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 | Distributing |
| End of financial year | 31.12. |
| Registration and Distribution | DE, AT |
| SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 8 |
Costs
| Issue surcharge | Up to 5.00% |
|---|---|
| Management fee p.a. | 1.30% |
| Custodian fee p.a. | 0.03% |
| Total Expense Ratio (TER) p.a. | 1.50% |
| Performance fee | none |
Chances and risks
| Chances | Risks |
|---|---|
| Market neutral returns over an entire business cycle | The fund is subject to general market risk |
| Well diversified strategy which adds value within multi asset portfolios | Unit value may fluctuate due to interest rate risks |
| Participation in commodity and currency markets | Higher volatility through currency and commodity exposure possible |
| Income from the collection of coupon payments | Derivatives used to manage quotas may increase the risk of loss, at least temporarily |
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Monthly market comment
The April was dominated by fears of recession, high inflation rates and risks in the U.S. banking system, although the latest figures strengthened hopes that inflation rates could come down. At the same time, the takeover of First Republic Bank by JP Morgan highlighted that there are still risks in the U.S. banking system. However, these are increasingly seen as manageable. The above combined with positive momentum and a better-than-expected Q1 reporting season boosted equities in the seasonally strong April. Global bonds moved sideways and commodities were down due to recession concerns. EUR USD was fluctuating around 1.10. ZAR performed well despite economic risks. The fund closed the month of April flat with -0.02%.
Portfolio Management
Nico Baum
Nico Baum joined Berenberg in July 2018. In addition to leading the Innovation & Data team, Nico Baum is also Head of Business Management & Development within Asset Management.
Previously, Nico Baum was COO & Portfolio Manager in an Asset Management FinTech with a focus on Big Data analytics. Before that, he worked in Investment Banking in a leading German bank in Frankfurt and Hong Kong.