| Sauren Absolute Return | Factsheet Share Class A (daily basis) | Factsheet Share Class A (end of month) |
- Fund Portrait
- Asset Allocation
- Performance
- ESG
- Key Facts
- Opportunities & Risks
- Downloads
Investment Profile
Sauren Absolute Return is a conservative asset management fund of funds with an absolute return concept and is a suitable investment option to cover the absolute return segment with a longer-term investment horizon.
In the long term, the goal is attractive positive growth in euro relatively independent of the market trend.
The portfolio is broadly diversified and invested in absolute return funds with different asset classes and strategies. You will find detailed information about the investment opportunities in the current valid prospectus.
The choice of funds follows Sauren’s established person-related investment philosophy "We invest in fund managers – not funds", with its focus on the skills of the fund managers. The environment for volume is also analysed in detail.
Analysis of the most promising fund managers draws on experience from over 7,000 meetings. Every year, meetings are held with around 300 fund managers to monitor the quality of the selected fund managers and generate a steady stream of new and attractive investment ideas.
Portfolio
Asset Allocation as at 31.08.2023
- Absolute Return Funds (Bond)46.4 %
- Absolute Return Funds (Equity)12.4 %
- Convertible Arbitrage Funds14.8 %
- Event Driven Funds10.1 %
- Equity Funds Long/Short6.9 %
- Global Macro Funds5.0 %
- Cash4.5 %
Source: Sauren Fonds-Research AG
Totals may not add up to 100 % due to rounding.
Top Holdings as at 31.08.2023
| Ennismore European Smaller Companies Fund | 7.8 % | |
|---|---|---|
| Helium Invest | 6.9 % | |
| Helium Performance | 6.1 % | |
| Jupiter Strategic Absolute Return Bond | 5.7 % | |
| Otus Smaller Companies UCITS Fund | 5.1 % |
Source: Sauren Fonds-Research AG
Performance
Performance of Sauren Absolute Return A as at 22.09.2023
The Investor would like to buy shares for 1,000.-- € and due to a 3.00% front-end load the total payable amount rises to 1,030.-- €. The gross performance (BVI method) is based on the published redemption prices of the Fund of Funds, which includes all costs incurred at the fund level (e.g. management fee), the net performance also includes the front-end load. The front-end load is only payable at the day of investment and therefore reduces the performance in the first year. In the following years no front-end load is considered, as such the net performance is not displayed in the bar chart as it is equal to the gross performance. Additional costs may be incurred at the investor level (e.g. custody costs). If the front-end load were taken into account in the line chart the performance in the chart would be lower.
TDue to its composition / the techniques used for its management, the fund is exposed to increased volatility; this means that unit prices may be subject to considerable upward and downward fluctuations, even within short periods of time.
* The chart shows the performance achieved under the same investment conditions of a unit class launched in 2009 of a fund previously existing in a different legal form until December 31, 2021. The Unit class is that of a fund that previously held another legal form, but was adapted in 2014 to meet European requirements for the funds business and has been UCITS-compliant since then.
Past performance is not a reliable indicator of future performance.
Source: Sauren Fonds-Research AG
Key figures as at 31.08.2023
| Volatility | |
|---|---|
| 1 year, daily | 2.24% |
| 3 years, monthly | 4.44% |
| 5 years, monthly | 4.63% |
| Sharpe Ratio | |
|---|---|
| 3 years, monthly | 0.52 |
| 5 years, monthly | 0.17 |
| Value at Risk | 10 days | 20 days |
|---|---|---|
| 95.0 % Confidence level | -0.70% | -0.99% |
| 99.0 % Confidence level | -1.00% | -1.41% |
| 99.9 % Confidence level | -1.33% | -1.89% |
The volatility is calculated based on the historical fund prices over the stated time period. For 1 year the volatility is calculated using daily fund prices, for 3 and 5 years respectively it is based on the fund prices at month end. For the calculation of the Sharpe-Ratio the 1-Month-Euribor is defined as the risk free rate. The Value at Risk is calculated at the given confidence level and stated time period, based on the historical fund prices since inception.
Source: CleverSoft FondsDB & Sauren Fonds-Research AG
Key Facts
Synopsis (for further information see Factsheet & Sales prospectus)
| Legal form | Investment fund in the form of a Fonds Commun de Placement (FCP) | ||
|---|---|---|---|
| Fund Manager | Sauren Finanzdienstleistungen GmbH & Co. KG, Eckhard Sauren | ||
| Custodian | DZ PRIVATBANK S.A., société anonyme | ||
| Asset Class | Fund of Funds pursuing an absolute return strategy | ||
| Share Class | Share Class A | Share Class D | Share Class C |
| Currency | EUR | EUR | CHF |
| Dividend Policy1 | Accumulation | Distribution | Distribution |
| Partial Tax Exemption for Private German Investors | 15 % (Minimum Equity Participation Rate2 of the fund: 25 %) | 15 % (Minimum Equity Participation Rate2 of the fund: 25 %) | 15 % (Minimum Equity Participation Rate2 of the fund: 25 %) |
| Launch Date | 30 December 2009 | 30 December 2009 | 10 February 2011 |
| ISIN | LU0454070557 | LU0454071019 | LU0580226594 |
| WKN | A0YA5P | A0YA5Q | A1H6AD |
| Front-end Load | 3.00% | 3.00% | 3.00% |
| Management Fee | 0.50% p.a. | 0.50% p.a. | 0.50% p.a. |
| Distribution Fee | 0.45% p.a. | 0.45% p.a. | 0.45% p.a. |
| Administration Fee3 | up to 0.09% p.a. | up to 0.59% p.a. | up to 0.09% p.a. |
| Performance Fee | none | none | none |
| Minimum Investment | none | none | none |
1: For those share classes for which “Distribution” is indicated under “Dividend Policy”, the intention is to only distribute the potentially low taxable portion of the positive income pursuant to German tax law. The tax treatment is also dependent on the personal circumstances of the individual investor and may be subject to change in future.
2: The minimum equity participation rate is relevant for the German tax classification and does not offer a direct conclusion about the equity market exposure of the fund. The tax treatment is also dependent on the personal circumstances of the individual investor and may be subject to change in future.
3: From this fee, the management company as well as the central administration agent and the custodian are paid.
Opportunities1
- Participation in appreciation of selected absolute return funds.
- In the long term, the goal is attractive positive growth in euro relatively independent of the market trend.
- Excess return over market average due to successful fund manager selection.
- Active fund of funds management and continuous monitoring of portfolio positions.
Risks1
- Risk of decrease in unit price due to general market risks (e.g. price, currency or liquidity risks).
- Risks from the target funds selected for the fund of funds and the investment universe in the markets for equities, bonds, currencies or derivatives.
- In general, every investment carries the risk of capital loss
- Risks of increased fluctuations in the unit price due to possible use of derivatives.
- Specific risks of absolute return strategies (e.g. from derivatives).
- Risks that the investment policy goals of the fund of funds or target fund are not achieved.
1: Comprehensive information regarding opportunities and risks can be found in the current sales prospectus (which is available in German only).
ESG-Scoring
The Sauren ESG scoring process is designed to indicate the extent to which sustainability aspects are taken into account. You can find further information on Sauren’s ESG here.
Explanations of Sauren ESG-Scoring
The proprietary Sauren ESG scoring process is applied to all target funds. The process seeks to determine the extent to which the manager of a target fund includes environmental aspects, social aspects and principles of sustainable corporate governance (ESG) in their investment decisions, without the result having a direct impact on investment decisions at the fund of funds level. The ESG scoring process is not designed to serve as a seal of quality. Rather, it is aimed at raising awareness of ESG criteria and their inclusion amongst target fund managers. You can find further information on Sauren’s ESG here.
Downloads
Tax data: (available only in German) see download area "Steuerliche Daten"
This information is designed as product advertising.
This information constitutes neither an offer nor a solicitation to buy shares. Any investment application will be made solely on the basis of the information contained in the Key Information Document (PRIIP-KID), the sales prospectus for that fund including all the terms of contract, the management regulation and the investment conditions, the most recently published and audited annual report and the last unaudited semi-annual report, which can be obtained in German from Sauren Fonds-Service AG, P.O. Box 10 28 54, 50468 Cologne, Germany (or online at www.sauren.de) and the custodian IPConcept (Luxemburg) S.A., société anonyme (or online at www.ipconcept.com) free of charge. The management company can decide to de-notify the arrangements made for the marketing of the funds pursuant to Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU. Further information on investor rights is available in German on the management company's website at https://www.ipconcept.com/ipc/de/anlegerinformation.html.