Investment Strategy
Berenberg Equities Global Plus is an offensive multi-asset fund with the aim of benefiting from the long-term performance of global equity markets with lower volatility. Using its proven bottom-up approach, the portfolio management identifies global quality companies that achieve above-average earnings growth and benefit from structural growth drivers. A central component of the strategy is the targeted use of derivatives to flexibly manage the equity allocation and reduce volatility. The portfolio is supplemented by the opportunistic addition of bonds and alternative investments in order to tactically utilise opportunities that arise on the capital market.
- Offensive multi-asset fund with the aim of participating in the global equity markets
- Robust equity portfolio with Berenberg DNA
- Tactical use of derivative strategies to actively manage the equity allocation and reduce volatility
- Utilisation of market opportunities at asset class and individual stock level - even outside the mainstream
Learn more about our investment philosophy in equity fund management
Fund data
| ISIN | DE000A0MWKG3 |
|---|---|
| WKN | A0MWKG |
| Inception date | 31.10.2007 |
| Issue price (13.01.2025) | 86.17 EUR |
| Redemption price (13.01.2025) | 81.68 EUR |
| Fund volume | 122.57 Mio. EUR |
| Share class volume | 59.30 Mio. EUR |
| Currency Fund / Share Class | EUR / EUR |
| Minimum investment | - |
| Asset Manager | Joh. Berenberg, Gossler & Co. KG |
| Management company | Universal-Investment-Gesellschaft mbH |
| Custodian | BNP Paribas S.A. Niederlassung Deutschland |
| Use of income | Accumulating |
| End of financial year | 31.12. |
| Registration and Distribution | DE, AT, CH |
| SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 6 |
Costs
| Issue surcharge | Up to 5.50% |
|---|---|
| Flat-rate fee p.a. | 1.56% |
| Total Expense Ratio (TER) p.a. | 1.54% |
| Performance fee | none |
Chances and risks
| Chances | Risks |
|---|---|
| High return potential of stocks over the long-term | High susceptibility of shares to fluctuation, price losses possible |
| Development of growth stocks occasionally above average | Share value may fall below the purchase price at which the customer acquired the share |
| Development of small-cap stocks above average in certain phases | Below-average development of growth stocks possible at times |
| Possible additional earnings through individual value analysis and active management | Below-average development of small stocks possible at times |
| No guarantee of success for individual value analysis and active management | |
| Foreign currency investments and transactions denominated in foreign currencies are subject to exchange rate risks |
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Monthly performance
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | -2.21 | 2.47 | -0.33 | 0.99 | 2.07 | -0.11 | -0.39 | 2.34 | 0.98 | -0.07 | 2.06 | -0.57 | 7.37 |
| 2015 | 5.18 | 4.25 | 1.26 | -0.47 | 1.15 | -3.28 | 1.64 | -6.73 | -3.57 | 6.83 | 2.37 | -5.05 | 2.63 |
| 2016 | -6.60 | -1.01 | 0.63 | -1.04 | 2.54 | -5.57 | 3.42 | 0.28 | 0.88 | -1.10 | 0.74 | 2.95 | -4.32 |
| 2017 | 0.92 | 3.46 | 2.78 | 1.47 | 1.20 | -2.21 | -1.42 | -0.45 | 3.11 | 3.14 | -2.50 | 1.52 | 11.32 |
| 2018 | 2.90 | -2.64 | -3.34 | 3.62 | 4.40 | 0.14 | 3.23 | 1.76 | -1.54 | -7.14 | -0.99 | -7.72 | -7.94 |
| 2019 | 8.26 | 3.29 | 3.58 | 5.38 | -3.41 | 3.17 | 1.52 | 0.12 | 0.82 | 1.70 | 4.71 | 2.32 | 35.82 |
| 2020 | 1.51 | -4.81 | -12.23 | 12.77 | 4.92 | 3.15 | 3.12 | 5.67 | -0.57 | -0.61 | 6.15 | 2.89 | 21.72 |
| 2021 | 1.45 | 2.02 | 1.31 | 4.19 | -2.05 | 6.33 | 0.92 | 2.33 | -4.75 | 4.90 | -2.78 | 1.27 | 15.62 |
| 2022 | -10.68 | -5.42 | 2.34 | -7.02 | -2.94 | -6.51 | 9.01 | -3.97 | -7.98 | 2.39 | 3.07 | -6.06 | -30.32 |
| 2023 | 6.21 | -0.61 | 2.46 | -0.61 | 2.86 | 0.22 | 1.61 | -1.92 | -3.02 | -2.64 | 7.62 | 2.71 | 15.27 |
| 2024 | 2.35 | 3.57 | 1.16 | -2.38 | 1.90 | 3.16 | -1.50 | 1.11 | -0.03 | -0.51 | 4.46 | 1.41 | 15.49 |
| 2025 | - | - | - | - | - | - | - | - | - | - | - | - | 1.42 |
Source: Berenberg, Management company
The charts and tables regarding performance shown here are based on own calculations according to the method developed by the German Investment Funds Association (BVI). They illustrate past performance. Future performance can deviate both positively and negatively from these calculations. Gross performance (BVI method) takes into account all charges at fund level (e.g. management fee), net performance plus the issue surcharge. Additional charges can arise for individual investors (e.g. custody account fees, commissions and other fees). Model calculation (net): An investor wants to purchase fund units for EUR 1,000 EUR. Considering a max issue surcharge of 5.50% he has to payEUR 55.00 for the purchase. Also, fees may be charged for the administration of the safe custody account, which will lower the performance. Past performance is not a reliable indicator of future performance.
Performance after issue surcharge
| 1 year | 16.95% |
|---|---|
| 3 years | 1.10% |
| 5 years | 28.33% |
| since inception | 68.62% |
| Max. Drawdown 5 years | -33.64% |
Source: Berenberg, Management company | State: 13 Jan 2025
Risk figures
| Volatility - 1 year | 10.33% |
|---|---|
| Volatility - 3 years | 13.50% |
| Sharpe Ratio - 3 years | -0.18 |
| Maximum Drawdown - since inception | -42.30% |
Currencies
Sectors
Countries
Asset classes
Top Holdings
Monthly market comment
In December, the US equity markets lost momentum compared to the previous month. The main reasons were rising US Treasury yields, a strong dollar, and rebalancing flows following a strong performance over the course of the year. In contrast, European and emerging market equities recorded gains in euro terms. At the sector level, stocks in the technology and financial sectors were particularly in demand. Following the sharp rise, we selectively realized partial profits in the technology sector from companies such as Marvell Tech and Datadog, while we counter-cyclically added positions in European single stocks and securities from sectors such as consumer and finance. For example, we added the insurer Allianz and the US bank JP Morgan. Gold closed about 0.6% lower than in November due to higher US yields. The year 2025 is expected to be volatile, shaped by monetary and political developments. Interest rate decisions, particularly by the Fed and the ECB, could add further market fluctuations. Despite uncertainties, the fundamental outlook for equities remains positive, with dynamic earnings growth expectation for the next years. Heterogeneous growth expectations and valuations on sector and single stock level should present an interesting market environment for active management in 2025.
Portfolio Management
Dejan Djukic
Dejan Djukic heads up portfolio management at Berenberg. He is responsible for the discretionary mandates and the asset management solutions with multi-asset focus. He is a member of the Asset Allocation Committee and portfolio manager of various multi-asset strategies. After completing his Master’s degree in finance, he began his career at Commerzbank AG. Djukic was there responsible for asset allocation for asset management and fund mandates. He was also a voting member of the global investment committee and managed the bank's largest mutual funds and individual mandates. He then took over responsibility for portfolio management at DZ Privatbank S.A.. The team was responsible for the bank's large and special mandates.
