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 (01.04.2025) | 100.79 EUR |
| Redemption price (01.04.2025) | 95.99 EUR |
| Fund volume | 4.95 Mio. EUR |
| Share class volume | 4.12 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. | 1.84% |
| 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 | -0.35 | 1.93 |
| 2025 | 0.47 | -0.04 | -0.34 | - | - | - | - | - | - | - | - | - | 0.13 |
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 | 1.87% |
|---|---|
| since inception | 2.09% |
Source: Berenberg, Management company | State: 1 Apr 2025
Risk figures
| Volatility - 1 year | 2.16% |
|---|---|
| Maximum Drawdown - since inception | -3.96% |
Currencies
Countries
Asset classes
Top Holdings
Monthly market comment
In February, a risk-averse sentiment prevailed in the markets. Ongoing uncertainty regarding Trump's policies, along with growing concerns about economic growth in light of some weaker U.S. economic data, led to lower yields and stock prices. U.S. stocks lost value. Credit spreads generally widened. The yields on 10-year U.S. Treasury bonds fell by more than 33 basis points during the month to 4.21%. Europe once again outperformed the U.S. stock market. This outperformance was also evident in the credit sector: while USD high-yield spreads widened, EUR spreads tightened. The further decline in U.S. yields pushed the U.S. dollar further downward against the G10 currencies. Gold benefited from the political concerns and reached a new all-time high in February.
Portfolio Management
Nico Baum
Nico Baum has been with Berenberg since July 2018. As Head of Innovation & Data and Head of Data-Driven Investments, he is responsible for AI research & development as well as the bank-wide AI transformation. Previously, he was COO and portfolio manager of a fully regulated asset management fintech, with a focus on artificial intelligence and big data analytics. He began his career in the investment banking division of a leading German bank, with positions in Frankfurt, London, and Hong Kong.