| Sauren Dynamic Absolute Return | Factsheet Share Class D (daily basis) | Factsheet Share Class D (end of month) |
- Fund Portrait
- Asset Allocation
- Performance
- ESG
- Key Facts
- Opportunities & Risks
- Downloads
Investment Profile
Sauren Dynamic Absolute Return is a dynamic fund of funds with an absolute return concept and offers a concentrated investment opportunity in the absolute return segment with a longer-term investment horizon.
The long term goal is attractive positive performance in euro, with possible increased volatility.
The portfolio is concentrated on absolute return funds which may show higher volatility. 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 30.06.2021
- Convertible Arbitrage Funds7.5 %
- Absolute Return Funds (Bond)63.4 %
- Equity Funds Long/Short21.4 %
- Global Macro Funds6.5 %
- Cash1.3 %
Source: Sauren Fonds-Research AG
Totals may not add up to 100 % due to rounding.
Top Holdings as at 30.06.2021
| Ennismore European Smaller Companies Fund | 13.8 % | |
|---|---|---|
| Brook Absolute Return Fund | 12.3 % | |
| R Parus Fund | 9.1 % | |
| Maga Smaller Companies UCITS Fund | 7.9 % | |
| Advent Global Partners UCITS Fund | 7.5 % |
Source: Sauren Fonds-Research AG
Performance
Performance of Sauren Dynamic Absolute Return D as at 26.07.2021
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.
The fund is subject to heightened volatility, due to composition. Consequently, unit price may fluctuate sharply in either direction within short periods of time.
* The share class was launched as Sauren Absolute Return Dynamic D in 2013.
Past performance is not a reliable indicator of future performance.
Source: Sauren Fonds-Research AG
Key figures as at 30.06.2021
| Volatility | |
|---|---|
| 1 year, daily | 5.74% |
| 3 years, monthly | 8.43% |
| 5 years, monthly | 6.75% |
| Sharpe Ratio | |
|---|---|
| 3 years, monthly | 0.24 |
| 5 years, monthly | 0.26 |
| Value at Risk | 10 days | 20 days |
|---|---|---|
| 95.0 % Confidence level | -1.73% | -2.44% |
| 99.0 % Confidence level | -2.52% | -3.56% |
| 99.9 % Confidence level | -3.40% | -4.80% |
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)
| Administrator | HANSAINVEST | |
|---|---|---|
| Portfolio Management | Sauren Finanzdienstleistungen GmbH & Co. KG, Eckhard Sauren | |
| Custodian | DONNER & REUSCHEL AG | |
| Asset Class | Dynamic Fund of Funds with absolute return strategy | |
| Share Class | Share Class D | Share Class I |
| Currency | EUR | EUR |
| Dividend Policy1 | Distribution | Distribution |
| Partial Tax Exemption for Private German Investors | none (Minimum Equity Participation Rate2 of the fund: 0 %) | none (Minimum Equity Participation Rate2 of the fund: 0 %) |
| Launch Date | 27 December 2013 | 27.12.2013 |
| ISIN | DE000A1WZ3Z8 | DE000A1WZ306 |
| WKN | A1WZ3Z | A1WZ30 |
| Front-end Load | 3.00% | 0.00% |
| Management and Administration Fee | 0.80% p.a. | 1.05% p.a. |
| Distribution Fee | 0.55% p.a. | 0.00% p.a. |
| Custodian fee | 0.05% p.a. | 0.05% p.a. |
| Performance Fee | none | none |
| Minimum Investment | none | 1M Euro |
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.
Opportunities1
- Participation in appreciation of selected absolute return funds.
- The long term goal is attractive positive performance in euro, with possible increased volatility.
- 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.
- 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.
Risk and reward profile (in the meaning of the KIID/Wesentliche Anlegerinformationen)2
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
Risk class (Assessment of the sales agent)3
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
1: Comprehensive information regarding opportunities and risks can be found in the current sales prospectus (which is available in German only).
2: The risk and reward profile uses a ratio based on volatilities (see the KIID/Wesentliche Anlegerinformationen). This risk indicator relies on historical data and cannot be used as a basis upon which to forecast future performance. 1 represents low risk and a potentially lower reward and 7 stands for high risk and a potentially higher reward.
3: The sales agent’s risk class assessment is not the same as the risk profile in the sales prospectus and the risk and reward profile in the KIID (Wesentliche Anlegerinformationen) and is carried out from the point of view of an investor whose base currency is the same as that of the share class. 1 stands for low risk, 7 for high risk.
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 KIID (Wesentliche Anlegerinformationen), the sales prospectus for that fund including all the terms of contract, the management regulation and articles of association, 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) or HANSAINVEST (or online at www.hansainvest.de) free of charge.