ISIN DE0009765446 WKN 976 544
Expanded Investment strategy, implemented April 10, 2017
We upgraded 50% of the fund to the new individual issue opportunity/risk management on April 10, 2017. The remaining 50% will be switched to the new system on Dec. 4, 2017 after the formal approval of the investment universe expansion from the DAX Index to the HDAX Index is approved. From Dec.1, 2017 the fund will be known as the G&W-HDAX-TRENDFONDS.
The risk in investments must be considered. Please click risk for an overview of the basic risks and the specific risks of our approach.
Furthermore we request that you read the general and strategy-specific risk descriptions which are contained in the sales prospectus.
gross of sales fee
net of sales fee
Performance calculated on the basis of the repurchase price and reinvestment of payouts at the repurchase price:
gross of sales fee * ) = Fund performance in Euro according to BVI on the basis of the repurchase price. Initial sales fees were not taken into account.
net of sales fee * * ) = Performance for the investor in Euro including a sales fee of 5 % in the first period.
Custodian account fees are not included in this calculation. If they had been included the performance would have been less.
Risk/return profile of the fund since inception (22.09.1997-29.06.2017)
DAX® is a registered trademark of the Deutsche Börse AG.
Performance of the fund in individual calendar years (gross of sales fee*)
|30.09.2016 - 29.09.2017||+ 16,33 %||+ 16,33 %|
|30.09.2015 - 30.09.2016||- 5,58 %||- 5,58 %|
|30.09.2014 - 30.09.2015||+ 2,38 %||+ 2,38 %|
|30.09.2013 - 30.09.2014||+ 5,08 %||+ 5,08 %|
|28.09.2012 - 30.09.2013||+ 3,59 %||- 1,34 %|
- High degree of participation in a rising German stock market.
- Low degree of participation in a falling German stock market.
Investment Strategy DAX > 50% (from 10.04.2017 - 04.12.2017)
- The WARBURG-DAXTREND-FONDS invests with a near index weighting in the 30 stocks of the DAX-Index and in DAX futures contracts. The fund overall stock weighting is a minimum of 51%.
- The degree of investment (unhedged stock holdings) depends on the trend direction and strength, and is managed in a series of steps.
- The drawdown risk in the fund is reduced through the sale of DAX futures contracts when the index is falling.
- In steady, consistent downtrends it is possible to have 100% of the fund holdings hedged.
- When stock prices are rising these portfolio hedges are lifted in a series of steps. Price gains are made in the stocks.
- The active management of the fund degree of investment (stocks long, futures short) is made systematically and follows trends via the G&W-DAXTREND-Model.
Investment Strategy HDAX < 50% (from 10.04.2017 - 04.12.2017)
- The fund uses a systematic risk management system to invest in up to 33 individual issues (30%) of the 110 stocks of the HDAX Index (30 DAX + 50 MDAX + 30 TecDAX).
- The selection of the invidual issues is made, among other criteria, via momentum criteria.
- The degree of investment in each stock held is calculated by the AIRC-ExO-Model and adjusted monthly in 10% steps between 100% and 50%. Any stock whose performance is weaker than the bond portfolio will be sold.
- Liquidity not currently invested in stocks will be parked in German government bonds (maturity management system).
- If no stock is available with a greater performance than the bond portfolio then the liquidity will be invested in German government bonds with a maturity management system.
- The stock weighting of the portfolio is a minimum of 51%, may be weighted close to the index, and therefore completely hedged with DAX futures contracts.
Please note that past performance is not a reliable indicator for future performance. Tax treatment varies according to the personal situation of each investor and can change in the future. All information here has been carefully researched, but we cannot guarantee its accuracy. This document is a collection of information and is not advice or a recommendation. An investor must consult with his advisor and receive a customer- and product-oriented counseling prior to the purchase of the fund. The legal basis for the purchase of the fund is the Key Investor Information Document, the current fund prospectus as well as the annual and the semi-annual reports, which may be obtained from Grohmann & Weinrauter VermögensManagement GmbH, Warburg Invest KAG mbH, or the depositary bank. Please see the fund prospectus for general and strategy-specific information on risks.
Data sources: Warburg Invest and own calculations