Investment Strategy
The Berenberg Sentiment Fund invests in a well diversified portfolio of different asset classes. The underlying investment philosophy aims to generate positive returns over the entire market cycle by analysing globally written and spoken news in different languages (alternative data). Latest technology enables us to turn this unstructured data into actionable insights and use these for the prediction of price movements in financial markets.
Several hundred thousand global and unstructured real-time messages are analysed daily with latest Machine Learning technology and transformed into investment decisions, this process is fully automated. In addition, to the income from the active investment decision from sentimentmodels, ongoing interest income is to be generated through a bond floor portfolio.
- Globally diversified macro fund based on alternative sentiment data (market sentiment) and state-of-the-art technology.
- Less exposure to the development of the equity and bond markets.
- Good and highly diversified addition to many other fund concepts
- Investment universe with a focus on the asset classes commodities and currencies
Fund data
| ISIN | DE000A1C0UD3 |
|---|---|
| WKN | A1C0UD |
| Inception date | 30.06.2010 (Strategy was substantially changed as of 01.10.2022) |
| Issue price (19.12.2024) | 100.95 EUR |
| Redemption price (19.12.2024) | 96.14 EUR |
| Fund volume | 5.98 Mio. EUR |
| Share class volume | 5.15 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 | Distributing |
| End of financial year | 31.12. |
| Registration and Distribution | DE, AT |
| SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 8 |
Costs
| Issue surcharge | Up to 5.00% |
|---|---|
| Flat-rate fee p.a. | 1.35% |
| Total Expense Ratio (TER) p.a. | 1.52% |
| Performance fee | Up to 20% of the performance above the €STR (Euro Short-Term Rate) with High Watermark |
Chances and risks
| Chances | Risks |
|---|---|
| Market neutral returns over an entire business cycle | The fund is subject to general market risk |
| Well diversified strategy which adds value within multi asset portfolios | Unit value may fluctuate due to interest rate risks |
| Participation in commodity and currency markets | Higher volatility through currency and commodity exposure possible |
| Income from the collection of coupon payments | Derivatives used to manage quotas may increase the risk of loss, at least temporarily |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | - | - | - | - | - | - | - | - | 0.00 | -0.14 | -1.06 | -1.34 | -2.53 |
| 2023 | 0.30 | -0.36 | 0.05 | -0.06 | 0.48 | -0.49 | 0.40 | 0.52 | 0.29 | 0.74 | 0.63 | 0.12 | 2.63 |
| 2024 | -0.01 | -0.32 | 0.52 | 0.34 | 0.01 | 0.73 | -0.17 | -0.18 | 0.62 | 0.80 | -0.07 | - | 1.66 |
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 5.00% he has to payEUR 50.00 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 | 1.67% |
|---|---|
| since inception | 1.69% |
Source: Berenberg, Management company | State: 19 Dec 2024
Risk figures
| Volatility - 1 year | 2.17% |
|---|---|
| Maximum Drawdown - since inception | -3.96% |
Currencies
Countries
Asset classes
Top Holdings
Monthly market comment
After a decline in October, global equity markets recovered significantly in November, primarily driven by investor optimism following the U.S. presidential elections, which saw Donald Trump emerge as the clear winner. Despite some concerns about potential U.S. tariffs and their implications for inflation and the global economy, U.S. equities led last month's rally. Government bond yields remained volatile in November, while the strong U.S. dollar and easing geopolitical uncertainty in the Middle East weighed on gold prices. Crude oil gained over 2% in this environment, supported by increased demand from China and continued production cuts by OPEC. The Sentiment Fund ended the month flat, with a performance of -0.03%.
Portfolio Management
Nico Baum
Nico Baum joined Berenberg in July 2018. In addition to leading the Innovation & Data team, Nico Baum is also Head of Business Management & Development within Asset Management.
Previously, Nico Baum was COO & Portfolio Manager in an Asset Management FinTech with a focus on Big Data analytics. Before that, he worked in Investment Banking in a leading German bank in Frankfurt and Hong Kong.