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Information for professional investors



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The following website and its English contents are offered to provide a non-binding translation for information purposes.



The following website and its content are intended for our professional investors, such as banks, financial service providers and brokers in accordance with § 34 f of the German Trade, Commerce and Industry Regulation Act (Gewerbeordnung, GewO). They are also aimed at professional investors pursuant to the statutory requirements of the Markets in Financial Instruments Directive (MiFID). Accordingly, professional investors are investors of whom it can be assumed that they have the necessary experience, knowledge and expertise for making investment decisions and adequate assessments of the associated risks. In particular, this includes asset managers, sales partners and financial intermediaries.

The information that has been placed on the following website does not in principle take account of statutory requirements for the presentation of information for private investors and is therefore not suitable or intended for private investors. The following content is consequently intended for professional investors and should not in principle be made accessible to private investors. In particular, this applies to diagrams, texts, videos and other depictions on the website.

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There are two groups of PDF documents on the following website. Unless expressly indicated, access to all uploaded PDF documents can be granted to private customers in the course of distribution. If PDF documents are not suited to being passed on to private customers, this should be indicated accordingly on the document, for example, with a text containing the following content: “This document is intended for professional investors only and should not be made accessible to private investors”.

The respective funds may not be offered for sale within the USA or to U.S. citizens or to U.S. persons domiciled in the USA, nor be sold to the aforementioned. The following published documents and their content may not be distributed in the USA or in other countries in which the respective fund is not authorised for distribution. Please refer to the respective sales prospectuses of the particular investment funds for further details of relevant limitations.

Where the following website and its contents are offered in English, the purpose is merely to provide non-binding translations for information.

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© SAUREN Financial Group® 2018
Absolute Return Funds of Funds

Sauren Dynamic Absolute Return

Asset Allocation
as at 31.03.2018

Source: Sauren Fonds-Research AG

Sauren Dynamic Absolute ReturnFactsheet (on a daily basis)Factsheet (by the end of month)
Monthly report

Investment Profile

Sauren Absolute Return Dynamic 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 of over 4% p.a. in euro, with possible increased volatility.

The portfolio is concentrated on absolute return funds which may show higher volatility.

Analysis of the most promising fund managers draws on experience from over 6,000 meetings. Every year, meetings are held with around 350 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 31.03.2018

  • Absolute Return Funds (Equity)8.2 %
  • Absolute Return Funds (Bond)42.3 %
  • Equity Funds Long/Short23.9 %
  • Global Macro Funds24.7 %
  • Cash1.0 %

Source: Sauren Fonds-Research AG

Totals may not add up to 100 % due to rounding.

Top Holdings as at 31.03.2018

BlueBay Global Sovereign Opportunities Fund11.3 %
R Parus Fund10.9 %
Polar UK Absolute Return Fund8.7 %
Gladwyne Absolute Credit8.2 %
Ennismore European Smaller Companies Fund8.2 %

Source: Sauren Fonds-Research AG

Performance

Performance of Sauren Dynamic Absolute Return D as at 20.04.2018

Reference index: HFRX Global Hedge Fund EUR Index

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.

Past performance is not a reliable indicator of future performance.
Source: Sauren Fonds-Research AG

Key figures as at 31.03.2018

Volatility
1 year, daily2.38%
3 years, monthly3.55%
5 years, monthly
Sharpe Ratio
3 years, monthly-0.52
5 years, monthly
Value at Risk10 days20 days
95.0 % Confidence level-0.73%-1.03%
99.0 % Confidence level-1.05%-1.49%
99.9 % Confidence level-1.41%-2.00%

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)

AdministratorHANSAINVEST
Portfolio ManagementSauren Finanzdienstleistungen GmbH & Co. KG, Eckhard Sauren
CustodianDONNER & REUSCHEL AG
Asset ClassDynamic Fund of Funds with absolute return strategy
Share ClassShare Class D
Share Class I
CurrencyEUR EUR
Dividend Policy1Distribution Distribution 
Minimum Equity Participation Rate0%0%
Launch Date27.12.2013 27.12.2013
ISINDE000A1WZ3Z8DE000A1WZ306
WKNA1WZ3ZA1WZ30
Front-end Load3%0%
Management and Administration Fee0.80% p.a.1.05% p.a.
Distribution Fee0.55% p.a.0.00% p.a.
Custodian fee0.05% p.a.0.05% p.a.
Performance Feenonenone
Minimum Investmentnone1M 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.

Opportunities1

  • Participation in appreciation of selected absolute return funds.
  • The long term goal is attractive positive performance of over 4 % p. a. in euro, with possible increased volatility.
  • Excess return over market average due to successful fund manager selection.
  • Continuous optimisation of the portfolio through 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

1234567

Risk class (Assessment of the sales agent)3

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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. 

Downloads

Information document
Sales documents (available only in German)
KIID / Wesentliche Anlegerinformationen (available only in German)

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) free of charge.