Flossbach von Storch - Multi Asset - Growth ET

Flossbach von Storch - Multi Asset - Growth offers comprehensive integrated investment management for long-term investors. The fund management invests world-wide on the principle of risk diversification in equities, bonds, convertible bonds, currencies, precious metals (indirect) and investment funds. Derivatives may also be used for hedging purposes or for optimising returns; The equity component may range between 25 per cent and 75 per cent. The fund management uses an in-house developed valuation model when selecting individual stocks. The fund pays a dividend once per year. The sub-fund is actively managed. The fund manager determines, regularly reviews and, if necessary, adjusts the composition of the portfolio exclusively in accordance with the criteria specified in the investment policy. The sub-fund is not managed in reference to a index.


ISIN:LU1245471567
Authorised for distribution:AT, CH, DE, ES, FR, IT, LI, LU
Fund type / legal structure:UCITS / FCP
Domicile:Luxemburg
Fund currency:EUR
Launch date:13 July 2015
Financial year end:30 September
Income utilisation:Accumulating
Management company:Flossbach von Storch Invest S.A.
Custodian bank / Paying agent:DZ PRIVATBANK S.A.
Manager:Flossbach von Storch AG
Data from:24 September 2020
Shareclass assets:2,088,867.77 EUR
NIW:122.74 EUR
Redemption price:122.74 EUR
Issue price*:128.88 EUR
Redemption fee:0.00%
Ongoing charges:2.05%
which includes a management fee of:1.93%
Performance fee:
Issue surcharge:up to 5.00%

* incl. max. issue surcharge 5.00%

Source: Custodian bank / Paying agent

Annual performance (As at: 24.09.2020)

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Performance (EUR, gross, in %, As at: 24.09.2020)

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Accumulated Performance (gross, in %, As at: 24.09.2020)

YTD-2.18%
1 year1.33%
3 years11.08%
5 years28.16%
1 year p.a.3.97%
3 years p.a.3.56%
5 years p.a.5.08%
since launch (13.07.2015)22.03%

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Monthly performance (gross, in %, As at: 24.09.2020)

 202020192018201720162015
Jan1.11%5.17%0.31%0.52%-5.16%
Feb-1.69%2.54%-2.19%2.96%2.78%
Mar-9.22%1.31%-1.86%0.54%1.74%
Apr5.85%2.78%2.49%0.61%0.94%
May0.11%-3.56%2.97%0.76%0.05%
Jun0.49%2.44%-1.45%-1.73%-0.42%
Jul1.43%2.93%1.27%-0.91%4.23%2.47%
Aug2.82%-0.39%-1.45%-0.26%0.27%-5.39%
Sep-2.37%1.81%-0.17%1.90%-0.96%-3.72%
Oct-0.02%-3.24%1.62%0.03%8.79%
Nov1.94%-0.35%0.07%-0.90%0.47%
Dec2.02%-5.01%0.74%3.42%-1.80%
YTD-2.18%20.41%-8.62%6.94%5.84%0.17%

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Strategy breakdown (As at: 31.08.2020)

Equities66.21 %
Bonds17.56 %
Gold (indirect)9.56 %
Cash6.18 %
Convertible bonds0.27 %
Other (incl. derivatives)0.21 %

Source: Depositary and Flossbach von Storch

Top 10 sectors for equities (As at: 31.08.2020)

Health Care20.29 %
Communication Services17.56 %
Consumer Staples12.15 %
Materials10.04 %
Consumer Discretionary8.33 %
Real Estate8.09 %
Information Technology6.84 %
Industrials6.75 %
Financials5.94 %
Other2.34 %

Source: Depositary and Flossbach von Storch

Breakdown of ratings for bonds (As at: 31.08.2020)

AAA7.59 %
AA0.15 %
A15.09 %
BBB44.87 %
BB24.34 %
NR7.96 %

Source: Depositary and Flossbach von Storch

Other key figures (As at: 31.08.2020)

Sharpe Ratio a0,58
Value at Risk (VaR) b-7,70%
Volatility c12,14%
Maximum drawdown d-18,21%

a The Sharpe ratio is a measurement for the risk/return profile of an investment. In terms of sub-funds, it determines how much outperformance (that is return on the fund’s assets minus the return of a risk-free asset) the sub-fund achieved per unit of risk.

b The value at risk (VaR) is a means to measure risk and describes the loss that, with a pre-defined probability (in this case 99 per cent) and in a predetermined holding period (in this case 20 days), will not be exceeded. Here we are dealing with an ex post VaR which has been calculated according to sub-fund prices for a given time series.

c Volatility is measured through standard deviation and is used to determine the degree of fluctuation of sub-fund prices over a given time frame.

d The “maximum drawdown” shows the maximum loss an investor can suffer through an unfortunate choice of timing for buying or selling securities in a given time period (260 days).

Historic Prices

As atShare class currencyIssue priceRedemption priceNAV
EUR105.61100.58100.58
EUR107.39102.28102.28
EUR108.02102.88102.88
EUR108.23103.08103.08
EUR109.46104.25104.25
EUR109.95104.71104.71
EUR109.78104.55104.55
EUR108.96103.77103.77
EUR108.52103.35103.35
EUR107.97102.83102.83
EUR107.40102.29102.29
EUR105.93100.89100.89
EUR106.97101.88101.88
EUR107.56102.44102.44
EUR108.21103.06103.06
EUR107.84102.70102.70
EUR108.34103.18103.18
EUR108.36103.20103.20
EUR109.27104.07104.07
EUR108.68103.50103.50
EUR108.14102.99102.99
EUR108.62103.45103.45
EUR107.34102.23102.23
EUR105.82100.78100.78
EUR106.34101.28101.28
EUR106.48101.41101.41
EUR106.97101.88101.88
EUR106.93101.84101.84
EUR106.08101.03101.03
EUR104.3299.3599.35
EUR101.6896.8496.84
EUR97.8493.1893.18
EUR98.9094.1994.19
EUR99.7094.9594.95
EUR102.0897.2297.22
EUR102.3897.5097.50
EUR102.0397.1797.17
EUR99.9895.2295.22
EUR100.7895.9895.98
EUR102.1497.2897.28
EUR100.8496.0496.04
EUR100.7995.9995.99
EUR101.6996.8596.85
EUR101.7996.9496.94
EUR101.2596.4396.43
EUR100.5895.7995.79
EUR100.2395.4695.46
EUR101.0696.2596.25
EUR102.0797.2197.21
EUR101.8597.0097.00
EUR100.8496.0496.04
EUR101.9397.0897.08
EUR100.7095.9095.90
EUR100.5695.7795.77
EUR99.5094.7694.76
EUR100.7095.9095.90
EUR99.0694.3494.34
EUR98.5693.8793.87
EUR100.1795.4095.40
EUR99.8395.0895.08
EUR100.5195.7295.72
EUR102.1297.2697.26
EUR102.2797.4097.40
EUR102.6197.7297.72
EUR102.9098.0098.00
EUR102.9298.0298.02
EUR103.1098.1998.19
EUR102.6397.7497.74
EUR101.9997.1397.13
EUR103.3098.3898.38
EUR103.5598.6298.62
EUR103.8998.9498.94
EUR103.6098.6798.67
EUR103.2998.3798.37
EUR105.36100.34100.34
EUR107.00101.90101.90
EUR106.86101.77101.77
EUR106.44101.37101.37
EUR107.03101.93101.93
EUR107.23102.12102.12
EUR106.59101.51101.51
EUR106.89101.80101.80
EUR107.23102.12102.12
EUR107.84102.70102.70
EUR107.59102.47102.47
EUR107.80102.67102.67
EUR106.95101.86101.86
EUR107.07101.97101.97
EUR107.01101.91101.91
EUR106.21101.15101.15
EUR105.34100.32100.32
EUR105.82100.78100.78
EUR106.73101.65101.65
EUR107.02101.92101.92
EUR106.96101.87101.87
EUR107.50102.38102.38
EUR107.53102.41102.41
EUR107.12102.02102.02
EUR107.63102.50102.50
EUR107.81102.68102.68
EUR107.73102.60102.60
EUR107.72102.59102.59
EUR107.90102.76102.76
EUR107.96102.82102.82
EUR105.72100.69100.69
EUR106.24101.18101.18
EUR106.63101.55101.55
EUR105.72100.69100.69
EUR104.7799.7899.78
EUR104.9399.9399.93
EUR103.6498.7098.70
EUR103.0698.1598.15
EUR104.3299.3599.35
EUR105.03100.03100.03
EUR105.15100.14100.14
EUR104.4099.4399.43
EUR104.1699.2099.20
EUR104.1299.1699.16
EUR104.9899.9899.98
EUR104.7799.7899.78
EUR105.79100.75100.75
EUR105.04100.04100.04
EUR104.2599.2999.29
EUR104.5399.5599.55
EUR103.8098.8698.86
EUR102.3097.4397.43
EUR101.2996.4796.47
EUR101.3396.5096.50
EUR101.8597.0097.00
EUR101.2796.4596.45
EUR101.0096.1996.19
EUR99.3494.6194.61
EUR99.3794.6494.64
EUR99.9795.2195.21
EUR98.7094.0094.00
EUR99.4294.6994.69
EUR101.1596.3396.33
EUR101.0096.1996.19
EUR101.4496.6196.61
EUR101.1496.3296.32
EUR100.3395.5595.55
EUR102.3497.4797.47
EUR102.1997.3297.32
EUR101.4796.6496.64
EUR100.6895.8995.89
EUR100.2495.4795.47
EUR99.6794.9294.92
EUR98.7994.0994.09
EUR97.7993.1393.13
EUR98.3593.6793.67
EUR97.3892.7492.74
EUR98.4193.7293.72
EUR99.6594.9094.90
EUR100.0495.2895.28
EUR101.2896.4696.46
EUR101.8296.9796.97
EUR101.6496.8096.80
EUR102.5297.6497.64
EUR102.0697.2097.20
EUR101.6596.8196.81
EUR102.4997.6197.61
EUR103.1298.2198.21
EUR103.4898.5598.55
EUR104.6099.6299.62
EUR105.27100.26100.26
EUR104.8699.8799.87
EUR104.9299.9299.92
EUR104.9599.9599.95
EUR104.4599.4899.48
EUR104.5099.5299.52
EUR103.8298.8898.88
EUR104.9099.9099.90
EUR105.32100.30100.30
EUR104.8099.8199.81
EUR105.03100.03100.03
EUR104.5299.5499.54
EUR104.7899.7999.79
EUR104.8899.8999.89
EUR105.06100.06100.06
EUR104.9299.9299.92
EUR104.2499.2899.28
EUR104.8099.8199.81
EUR104.9299.9299.92
EUR104.5099.5299.52
EUR104.1499.1899.18
EUR104.2399.2799.27
EUR103.5598.6298.62
EUR104.2099.2499.24
EUR103.9098.9598.95
EUR104.0399.0899.08
EUR104.0099.0599.05
EUR104.5899.6099.60
EUR106.10101.05101.05
EUR106.27101.21101.21
EUR106.03100.98100.98
EUR106.16101.10101.10
EUR106.89101.80101.80
EUR107.16102.06102.06
EUR106.77101.69101.69
EUR106.62101.54101.54
EUR106.55101.48101.48
EUR106.26101.20101.20
EUR106.35101.29101.29
EUR105.90100.86100.86
EUR104.7799.7899.78
EUR104.7899.7999.79
EUR104.1199.1599.15
EUR103.6898.7498.74
EUR103.7198.7798.77
EUR103.9999.0499.04
EUR104.5199.5399.53
EUR104.0399.0899.08
EUR103.8398.8998.89
EUR104.2399.2799.27
EUR103.9599.0099.00
EUR104.1199.1599.15
EUR103.4798.5498.54
EUR104.0299.0799.07
EUR103.8198.8798.87
EUR104.7599.7699.76
EUR105.38100.36100.36
EUR105.54100.51100.51
EUR105.95100.90100.90
EUR105.96100.91100.91
EUR105.90100.86100.86
EUR105.68100.65100.65
EUR105.91100.87100.87
EUR105.55100.52100.52
EUR105.71100.68100.68
EUR106.27101.21101.21
EUR106.41101.34101.34
EUR106.34101.28101.28
EUR105.42100.40100.40
EUR104.4399.4699.46
EUR103.8698.9198.91
EUR104.0499.0999.09
EUR104.3099.3399.33
EUR103.9599.0099.00
EUR104.8199.8299.82
EUR105.23100.22100.22
EUR105.66100.63100.63
EUR104.1999.2399.23
EUR103.1198.2098.20
EUR104.1199.1599.15
EUR105.51100.49100.49
EUR106.03100.98100.98
EUR106.53101.46101.46
EUR106.62101.54101.54
EUR106.07101.02101.02
EUR105.86100.82100.82
EUR106.23101.17101.17
EUR107.23102.12102.12
EUR108.24103.09103.09
EUR108.68103.50103.50
EUR108.82103.64103.64
EUR109.17103.97103.97
EUR109.07103.88103.88
EUR109.21104.01104.01
EUR109.08103.89103.89
EUR109.75104.52104.52
EUR109.87104.64104.64
EUR110.00104.76104.76
EUR110.18104.93104.93
EUR110.12104.88104.88
EUR110.51105.25105.25
EUR109.98104.74104.74
EUR110.21104.96104.96
EUR110.26105.01105.01
EUR109.29104.09104.09
EUR109.26104.06104.06
EUR109.74104.51104.51
EUR110.55105.29105.29
EUR110.45105.19105.19
EUR110.86105.58105.58
EUR110.64105.37105.37
EUR111.15105.86105.86
EUR111.13105.84105.84
EUR110.45105.19105.19
EUR110.12104.88104.88
EUR110.20104.95104.95
EUR109.88104.65104.65
EUR109.79104.56104.56
EUR110.01104.77104.77
EUR110.05104.81104.81
EUR109.56104.34104.34
EUR109.69104.47104.47
EUR110.09104.85104.85
EUR110.27105.02105.02
EUR109.89104.66104.66
EUR109.70104.48104.48
EUR110.67105.40105.40
EUR110.78105.50105.50
EUR110.78105.50105.50
EUR111.03105.74105.74
EUR110.58105.31105.31
EUR109.54104.32104.32
EUR109.28104.08104.08
EUR108.93103.74103.74
EUR108.63103.46103.46
EUR108.89103.70103.70
EUR108.79103.61103.61
EUR109.13103.93103.93
EUR109.40104.19104.19
EUR109.98104.74104.74
EUR110.74105.47105.47
EUR110.31105.06105.06
EUR109.23104.03104.03
EUR109.54104.32104.32
EUR109.78104.55104.55
EUR109.21104.01104.01
EUR109.31104.10104.10
EUR109.34104.13104.13
EUR109.65104.43104.43
EUR109.44104.23104.23
EUR109.27104.07104.07
EUR108.73103.55103.55
EUR109.33104.12104.12
EUR109.17103.97103.97
EUR108.97103.78103.78
EUR108.53103.36103.36
EUR109.13103.93103.93
EUR108.75103.57103.57
EUR109.42104.21104.21
EUR109.79104.56104.56
EUR110.09104.85104.85
EUR110.46105.20105.20
EUR110.44105.18105.18
EUR110.32105.07105.07
EUR109.88104.65104.65
EUR109.83104.60104.60
EUR109.24104.04104.04
EUR108.26103.10103.10
EUR107.45102.33102.33
EUR107.09101.99101.99
EUR106.68101.60101.60
EUR107.94102.80102.80
EUR108.05102.90102.90
EUR108.70103.52103.52
EUR108.55103.38103.38
EUR108.19103.04103.04
EUR107.66102.53102.53
EUR108.12102.97102.97
EUR108.30103.14103.14
EUR108.82103.64103.64
EUR108.73103.55103.55
EUR108.83103.65103.65
EUR108.40103.24103.24
EUR108.12102.97102.97
EUR108.30103.14103.14
EUR108.63103.46103.46
EUR108.32103.16103.16
EUR108.26103.10103.10
EUR107.92102.78102.78
EUR107.17102.07102.07
EUR107.04101.94101.94
EUR107.51102.39102.39
EUR107.81102.68102.68
EUR108.74103.56103.56
EUR109.85104.62104.62
EUR110.90105.62105.62
EUR110.29105.04105.04
EUR110.97105.69105.69
EUR110.64105.37105.37
EUR111.45106.14106.14
EUR111.54106.23106.23
EUR111.89106.56106.56
EUR112.15106.81106.81
EUR111.90106.57106.57
EUR111.57106.26106.26
EUR111.66106.34106.34
EUR111.84106.51106.51
EUR112.09106.75106.75
EUR111.96106.63106.63
EUR111.67106.35106.35
EUR112.13106.79106.79
EUR112.88107.50107.50
EUR112.84107.47107.47
EUR112.85107.48107.48
EUR113.03107.65107.65
EUR113.13107.74107.74
EUR113.07107.69107.69
EUR113.49108.09108.09
EUR112.70107.33107.33
EUR113.03107.65107.65
EUR112.98107.60107.60
EUR112.61107.25107.25
EUR112.75107.38107.38
EUR112.71107.34107.34
EUR112.53107.17107.17
EUR112.23106.89106.89
EUR112.23106.89106.89
EUR112.78107.41107.41
EUR113.05107.67107.67
EUR112.83107.46107.46
EUR112.54107.18107.18
EUR112.11106.77106.77
EUR112.21106.87106.87
EUR111.90106.57106.57
EUR112.27106.92106.92
EUR112.30106.95106.95
EUR112.51107.15107.15
EUR112.89107.51107.51
EUR113.30107.90107.90
EUR113.70108.29108.29
EUR114.03108.60108.60
EUR114.10108.67108.67
EUR114.45109.00109.00
EUR114.41108.96108.96
EUR115.23109.74109.74
EUR115.20109.71109.71
EUR116.12110.59110.59
EUR116.20110.67110.67
EUR116.24110.70110.70
EUR116.30110.76110.76
EUR115.87110.35110.35
EUR115.65110.14110.14
EUR116.55111.00111.00
EUR116.63111.08111.08
EUR116.31110.77110.77
EUR116.05110.52110.52
EUR115.82110.30110.30
EUR115.75110.24110.24
EUR115.61110.10110.10
EUR115.46109.96109.96
EUR115.56110.06110.06
EUR115.52110.02110.02
EUR115.86110.34110.34
EUR116.03110.50110.50
EUR116.10110.57110.57
EUR116.19110.66110.66
EUR115.54110.04110.04
EUR115.27109.78109.78
EUR115.66110.15110.15
EUR115.79110.28110.28
EUR115.46109.96109.96
EUR115.76110.25110.25
EUR116.31110.77110.77
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Opportunities

  • Flexible investment policy without benchmarking.
  • Risk is broadly diversified by investing in a range of asset classes (e.g. equities, bonds, convertible bonds and precious metals indirect). Market potential can be exploited by investing across a wide range.
  • Investing in assets denominated in a foreign currency can have a positive impact on unit values as a result of exchange rate movements.
  • Derivatives can be used to increase potential yields.
  • Precious metals (indirect) (e.g. in the form of gold) can be used to increase potential yields.

Risks

  • Market risks: The securities in which the Management Company invests the sub-fund assets present opportunities for gain but also the possibility of risk. If a sub-fund invests directly or indirectly in securities and other assets, it is subject to many general trends and tendencies on the markets, which are sometimes attributable to irrational factors, particularly on the securities markets. Losses can occur when the market value of the assets decreases against the cost price. If a unit holder disposes of units in a sub-fund at a time when the quoted price of the sub-fund assets is less than at the time of investment, then the unit holder will not recover the full value of the investment. While each sub-fund constantly strives to achieve growth, growth cannot be guaranteed. The risk exposure of the investor is, however, limited to the sum invested. There is no obligation to make additional capital contributions beyond investors' investments.
  • Currency risks: If a sub-fund holds assets which are denominated in foreign currencies, it shall be subject to currency risk. In the event of a devaluation of the foreign currency against the reference currency of the subfund, the value of the assets held in foreign currencies shall fall.
  • Credit risks: The fund may invest part of its assets in bonds. The issuers of these bonds could become insolvent, causing the bonds to lose some or all of their value.
  • Interest change risks: Investing in securities at a fixed rate of interest is connected with the possibility that the current interest rate at the time of issuance of a security could change. If the current interest rate increases as against the interest at the time of issue, fixed rate securities will generally decrease in value. Conversely, if the current interest rate falls, fixed rate securities will increase.
  • Risks relating to the use of derivatives: The fund may enter into derivative transactions for the purposes listed in the KIID and the sales prospectus. This means increased opportunities, but also increased risk of losses. The use of derivatives to hedge against losses may also reduce the profit opportunities of the fund.
  • Risks of precious metals and commodities: Precious metals and commodities may be subject to greater price fluctuations. Trading prices may also fall.

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