- Fund Portrait
- Asset Allocation
- Performance
- ESG
- Key Facts
- Opportunities & Risks
- Downloads
Investment Profile
Sauren Nachhaltig Defensiv is a conservative sustainable asset management fund of funds. As a modern multi-asset strategy, it offers an overall management solution to cover the conservative investment segment. The broadly diversified and overall defensively structured portfolio is invested in equity funds, bond funds and absolute return funds, among other assets. Detailed information on the investment policy can be taken from the most recent sales prospectus.
The broad diversification, covering not only traditional asset classes such as bonds and equities but also absolute return modules, allows Sauren Nachhaltig Defensiv to be managed as a modern multi-asset-strategy. You will find detailed information about the investment opportunities in the current valid prospectus.
The fund selection is done according to Sauren’s established person-related investment philosophy, with a focus on the skills of the fund managers in consideration of the asset under management. Target fund selection takes into account the extent to which a target fund includes environmental aspects, social aspects or principles of sustainable corporate governance in its investment decisions (“ESG” = environment, social, governance).
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 30.04.2023
- Bond Funds (flexible)27.5 %
- Bond Funds Corporates7.0 %
- Equity Funds 6.0 %
- Equity Funds Long/Short4.5 %
- Event Driven Funds10.5 %
- Absolute Return Funds (Equity)25.2 %
- Absolute Return Funds (Bond)4.0 %
- Convertible Arbitrage Funds7.0 %
- Others3.0 %
- Cash5.3 %
Source: Sauren Fonds-Research AG
Totals may not add up to 100 % due to rounding.
Top Holdings as at 30.04.2023
| KL Event Driven UCITS Fund | 8.5 % | |
|---|---|---|
| Flossbach von Storch - Bond Opportunities | 6.5 % | |
| Jupiter Dynamic Bond ESG | 6.5 % | |
| Alternative Fixed Income Fund | 6.1 % | |
| Butler Credit Opportunities Fund | 5.9 % |
Source: Sauren Fonds-Research AG
Performance*
Performance of Sauren Nachhaltig Defensiv A as at 26.05.2023
The share class was launched in 2017. The Fund's performance before 12 May 2021 was delivered under conditions that are no longer valid.*
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 of a Unit class launched in 2017. The Unit class is that of a fund that previously held another legal form, The Fund's performance before 12 May 2021 was delivered under conditions that are no longer valid. In particular, changes were made to the Fund's investment policy on 1 January 2018, and to the Fund's investment objectives on 14 October 2019 and on 12 May 2021.
Past performance is not a reliable indicator of future performance.
Source: Sauren Fonds-Research AG
Key figures as at 30.04.2023
| Volatility | |
|---|---|
| 1 year, daily | 2.90% |
| 3 years, monthly | 3.72% |
| 5 years, monthly | 4.54% |
| Sharpe Ratio | |
|---|---|
| 3 years, monthly | 0.66 |
| 5 years, monthly | 0.10 |
| Value at Risk | 10 days | 20 days |
|---|---|---|
| 95.0 % Confidence level | -0.92% | -1.30% |
| 99.0 % Confidence level | -1.29% | -1.83% |
| 99.9 % Confidence level | -1.71% | -2.42% |
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 | Modern Multi-Asset-Fund of funds | |
| Share Class | Share Class A | Share Class X (Closed for new investments.) |
| Currency | EUR | EUR |
| Dividend Policy1 | Accumulation | Accumulation |
| 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 %) |
| Launch Date | 20 December 2017 Changes were made to the Fund's investment policy on 1 January 2018, and to the Fund's objectives on 14 October 2019 and on 12 May 2021. | 18 February 2008 Changes were made to the Fund's investment policy on 1 January 2018, and to the Fund's objectives on 14 October 2019 and on 12 May 2021. |
| ISIN | LU1717046426 | LU0313461773 |
| WKN | A2H7ER | A0MX7L |
| Front-end Load | 3.00% | 5.00% |
| Management Fee | 0.45% p.a. | 0.45% p.a. |
| Distribution Fee | 0.55% p.a. | 0.70% p.a. |
| Administration Fee3 | up to 0.09% p.a. | up to 0.09% p.a. |
| Performance Fee | none | none |
| Minimum Investment | 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 the appreciation of the different asset classes.
- Attractive performance with defined return-risk profile.
- Excess return over market average due to successful fund manager selection.
- Active fund of funds management and continuous monitoring of portfolio positions.
- Consideration of sustainability criteria in the context of investments.
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.
- Risks from the investment universe, including risks from the markets for equities, bonds, currencies or derivatives.
- Specific risks of absolute return strategies (e.g. from derivatives).
- Difference of the actual fund investments from the investor's ideas about sustainability.
- Taking sustainability aspects into account can have a negative impact on performance.
- 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
Target fund selection takes into account the extent to which a target fund includes environmental aspects, social aspects or principles of sustainable corporate governance in its investment decisions (“ESG” = environment, social, governance). This means that target funds are subject to the Sauren ESG scoring process before any investment decision is made. The ESG scoring process is not designed to serve as a seal of quality. Rather, it is a measurement process with the sole objective of indicating the extent to which ESG aspects have been reflected/taken into account in the fund concerned. The fund takes the outcome of the process into account in its investment decisions and rules out investments in any target fund with an insufficient Sauren ESG score. You can find further information on Sauren’s ESG here.
Downloads
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 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.