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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.

I have read, understood and acknowledged the limitations on distribution, the legal information including the terms and conditions of use as well as the data protection notices.
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© SAUREN Financial Group® 2018
Multi-Asset Funds of Funds

Sauren Global Defensiv

Asset Allocation
as at 31.05.2018

Source: Sauren Fonds-Research AG

Sauren Global DefensivFactsheet (on a daily basis)Factsheet (by the end of month)
Monthly reportFactsheet (Share Class 3F)

Investment Profile

Sauren Global Defensiv is a conservative asset management fund of funds. As a modern multi-asset-strategy, it offers an overall management solution to cover the conservative investment segment.

The long term goal is attractive positive performance of over 3 % p.a. in euro, with low volatility.

The broadly diversified and overall defensively structured portfolio is invested in equity funds, bond funds and absolute return funds, among other assets. The broad diversification, covering not only traditional asset classes such as bonds and equities but also absolute return modules, allows Sauren Global Defensiv to be managed as a modern multi-asset-strategy.

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 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 31.05.2018

  • Bond Funds (flexible)13.1 %
  • Equity Funds3.4 %
  • Event Driven Funds2.5 %
  • Equity Funds Long/Short9.2 %
  • Multi-Strategy Funds1.5 %
  • Global Macro Funds13.5 %
  • Absolute Return Funds (Equity)28.2 %
  • Absolute Return Funds (Bond)16.4 %
  • Alpha-Strategy9.6 %
  • Others1.7 %
  • Cash0.9 %

Source: Sauren Fonds-Research AG

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

Top Holdings as at 31.05.2018

Hermes Multi Strategy Credit Fund4.7 %
BlueBay Global Sovereign Opportunities Fund4.3 %
Gladwyne Absolute Credit3.9 %
Astellon European Opportunities Fund3.5 %
Absolute-Return-Fonds (Renten)3.3 %

Source: Sauren Fonds-Research AG

Performance

Performance of Sauren Global Defensiv A as at 15.06.2018

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 31.05.2018

Volatility
1 year, daily1.29%
3 years, monthly1.82%
5 years, monthly2.04%
Sharpe Ratio
3 years, monthly0.03
5 years, monthly0.59
Value at Risk10 days20 days
95.0 % Confidence level-0.41%-0.58%
99.0 % Confidence level-0.58%-0.82%
99.9 % Confidence level-0.78%-1.10%

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)

Investment companySauren
Fund ManagerSauren Finanzdienstleistungen GmbH & Co. KG, Eckhard Sauren
CustodianDZ PRIVATBANK S.A.
Asset ClassMulti-Asset Funds of Funds
Share ClassShare Class A
Share Class D
Share Class 3F
Share Class C
CurrencyEUR EUR EUR CHF
Dividend Policy1Accumulation Distribution Distribution (fix 3 % p. a.)Distribution 
Minimum Equity Participation Rate25% (15 % of the earnings of private investors will stay tax-exempt)25% (15 % of the earnings of private investors will stay tax-exempt)25% (15 % of the earnings of private investors will stay tax-exempt)25% (15 % of the earnings of private investors will stay tax-exempt)
Launch Date27.02.2003 11.10.2007 29.02.2012 10.02.2011
ISINLU0163675910LU0313459959LU0731594668LU0580225604
WKN214466A0MYJGA1JSNRA1H599
Front-end Load3%3%3%3%
Management Fee20.45% p.a.0.45% p.a.0.45% p.a.0.45% p.a.
Distribution Fee0.35% p.a.0.35% p.a.0.35% p.a.0.35% p.a.
Administration Fee3up to 0.09% p.a.up to 0.09% p.a.up to 0.09% p.a.up to 0.09% p.a.
Performance Feenonenonenonenone
Minimum Investmentnonenonenonenone

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. However, for unit class 3F “Distribution (fixed at 3% p.a.)” is indicated since, regardless of income and performance, 3% of the net asset value at the financial year-end for the unit class is distributed. The tax treatment is also dependent on the personal circumstances of the individual investor and may be subject to change in future.

2: The fund management fee in percent reported here also includes the remuneration of the investment advisor.

3: From this fee, the management company as well as the central administration agent and the custodian are paid.

Opportunities1

  • Participation in the appreciation of the different asset classes.
  • The long term goal is attractive positive performance of over 3 % p. a. in euro, with low 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

1234567



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. For example, an investor operating from the euro area who wishes to invest in the CHF share class must consider that the investment will also be subject to a currency risk.

Downloads

Information documents
Information documents share class 3F
Sales documents (available only in German)
KIID / Wesentliche Anlegerinformationen (available only in German)

Tax data: (available only in German) see download area "Tax Data"

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.