Semi-Annual Report as of June 30, 2018

Transcription

1 HANSAINVEST SERVICE-KVG Semi-Annual Report as of June 30, 2018 Dreisam Income

2 Dear investor, This semi-annual report documents the performance of the UCITS fund Dreisam Income in the period from January 1, 2018 to June 30, In this period the fund realized a performance of - 1,97 % in its Class-I segment, - 2,22 % in its Class-R segment and - 1,78 % in its Class-S segment. The following report provides you with a detailed statement of assets for the fund as of end of June. You will receive an extensive market report in the next annual report. In addition, we will naturally be pleased to assist you with any queries which you may have at any time. Yours sincerely, Management board of HANSAINVEST Nicholas Brinckmann, Marc Drießen, Dr. Jörg W. Stotz Hamburg, August 2018 SEMI-ANNUAL REPORT DREISAM INCOME 2

3 To keep the overview: Statement of assets as of June 30, Appendix pursuant to 7 no. 9 KARBV... 9 Investment company, depositary and committees SEMI-ANNUAL REPORT DREISAM INCOME 3

4 Statement of assets as of June 30, 2018 Fund assets: EUR 32,139, (26,977,549.97) Units in circulation: Class-I: 111,575 (84,402) items Class-R: 28,640 (14.906) items Class-S: 176,277 (160,609) items Overview of assets TEUR/% Market value in fund currency % of fund assets I. Assets 1. Stock 14, (45.63) 2. Certificates 14, (41.09) 3. Derivatives (0.79) 4. Short-term liquidable assets 1, (9.57) 5. Bank deposits (0.52) 6. Other securities (2,57) II. Liabilities (-0.17) III. Fund assets 32, (Figures in brackets as of December 31, 2017) SEMI-ANNUAL REPORT DREISAM INCOME 4

5 Statement of assets as of June 30, 2018 Items/ Purchases/ Sales/ % Asset class ISIN Market units/ Volume additions disposals Price Market value of fund currency June 30, in in thou in period under review EUR assets Exchange traded securities Stock AUDI DE ITEMS EUR , DATA MODUL AG Prod.u.V.v.e.S. Inhaber-Aktien o.n. DE ITEMS 5, EUR , Diebold Nixdorf AG DE000A0CAYB2 ITEMS 19,000 6,500 0 EUR ,086, DMG MORI DE ITEMS 17,539 3, EUR , Drillisch DE ITEMS 10,000 3,000 3,000 EUR , EUWAX DE ITEMS 4, EUR , innogy SE Inhaber-Aktien o.n. DE000A2AADD2 ITEMS 8,800 8,800 0 EUR , MAN DE ITEMS 6, EUR , MAN DE ITEMS 7,500 1,500 0 EUR , Medion DE ITEMS 30,000 10,000 0 EUR , MeVis Medical Solutions AG DE000A0LBFE4 ITEMS 13,000 5,000 0 EUR , Renk DE ITEMS 2, EUR , SinnerSchrader AG Inhaber-Aktien o.n. DE ITEMS 37,000 7,000 0 EUR , Stada Arzneimittel DE ITEMS 16,000 4,000 0 EUR , , Syzygy DE ITEMS 45, EUR , Union Fin.Fran.Bque(Ufifrance) Actions au Porteur o.n. FR ITEMS 7, EUR , WCM Beteil.u.Grundbesitz AG Inhaber-Aktien o.n. DE000A1X3X33 ITEMS 125, EUR , O2 Czech Republic A.S. Namens-Aktien KC 10 CZ ITEMS 35,000 11,000 0 CZK , Philip Morris CR AS Namens-Aktien KC 1000 CS ITEMS CZK , Kabel Deutschland Holding DE000KD88880 ITEMS 6,817 1,917 0 EUR , Certificates Société Générale Effekten GmbH Express ZT Basket DE000SGM9769 ITEMS 1,500 1,500 0 EUR , DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0LDY3 ITEMS 5,500 5,500 0 EUR , DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0FA84 ITEMS 11,500 7,500 0 EUR ,321, Deutsche Bank AG DISC.Z S&P DE000DE29J25 ITEMS 12,500 12,500 0 EUR ,164, Deutsche Bank AG EXPR.Z ESTX 50 DE000DB9T6J4 ITEMS 3,430 2,000 0 EUR , Deutsche Bank AG KUPON Z ESTX 50 DE000DB2GYR0 ITEMS 1, EUR , Deutsche Bank AG, London Br. EXPRESS Z S&P 500 DE000DE29J09 ITEMS 6,500 6,500 0 EUR , DZ BANK AG Deut.Zentral-Gen. EXPRESS EUROPA 15/21 DE000DZ8T2G9 ITEMS 6,000 5,000 0 EUR , EFG Fin.Prod.AG Express Z DAX Index CH ITEMS 30,000 6,500 0 EUR ,983, Landesbank Baden-Württemberg Deep-Exp-Z SX5E DE000LB049X4 ITEMS 6,500 6,500 0 EUR , Raiffeisen Switzerland B.V. EXPRESS Z ESTX Banks CH ITEMS 6,500 3,500 0 EUR , Raiffeisen Switzerland B.V. EXPRESS Z Basket CH ITEMS 2, EUR , Raiffeisen Switzerland B.V. Express Z Basket CH ITEMS 5, EUR , Société Générale Effekten GmbH EXPRESS Z Basket DE000SGM97H0 ITEMS 12,500 8,000 0 EUR ,246, Société Générale Effekten GmbH M.Express Z Basket Société Générale Effekten GmbH MEMORY EXPR.Z DE000SGM98N6 ITEMS 5,000 5,000 0 EUR , Basket DE000SGM99Q7 ITEMS 9,000 9,000 0 EUR , Vontobel Financial Products MEM.P.P.EXP.Z SX5E DE000VN72VB7 ITEMS 1,500 1,500 0 EUR , Vontobel Financial Products MEM.P.P.EXP.Z SX5E DE000VN8EPT0 ITEMS 5, EUR , UniCredit Bank AG HVB Mem.Expr.Z Basket DE000HVB2LP4 ITEMS 1,250 1,250 0 EUR ,175, Total exchange traded securities EUR 25,301, Securities admitted to or included in organized markets ALBA DE ITEMS 3, EUR , Biotest Vz. DE ITEMS 10,000 10,000 0 EUR , Linde DE ITEMS 3,000 1,000 0 EUR , Total securities admitted to or included in organized markets EUR 1,078, SEMI-ANNUAL REPORT DREISAM INCOME 5

6 Statement of assets as of June 30, 2018 Items/ Purchases/ Sales/ % Asset class ISIN Market units/ Volume additions disposals Price Market value of fund currency June 30, in in thou in period under review EUR assets Unlisted securities Stock Allg. Gold- u. Silbersch. AG Inhaber-Aktien o.n. DE ITEMS EUR , Homag Group AG DE ITEMS 16,000 5,000 0 EUR , Lechwerke AG Inhaber-Aktien o.n. DE ITEMS 5, EUR , McKesson Europe DE000CLS1001 ITEMS 47,000 10,000 0 EUR ,240, Certificates Société Générale Effekten GmbH Stuf.EXPR.Z SXAE DE000SG85PD7 ITEMS 1, EUR , Total unlisted securities EUR 2,868, Total securities portfolio EUR 29,248, Derivatives (Holdings marked with a minus sign are sold positions) Stock index derivatives receivables/liabilities Options Options on stock indices Call DAX 13400, DE ITEMS Call DAX 13800, DE ITEMS Call DAX 13400, DE ITEMS Call DAX 13400, DE ITEMS Put DAX 12300, DE ITEMS 80 71, Put DAX 11800, DE ITEMS , Put DAX 11300, DE ITEMS 80 7, Put DAX 11500, DE ITEMS 80 11, Put DAX 12000, DE ITEMS , Put DAX 12000, DE ITEMS , Put DAX 12500, DE ITEMS , Put DAX 12500, DE ITEMS , Put DAX 10600, DE ITEMS , Put DAX 10800, DE ITEMS , Put DAX 10800, DE ITEMS , Put DAX 10200, DE ITEMS -80-6, Call DAX 13000, DE ITEMS 56 10, Call DAX 13000, DE ITEMS 64 12, Call DAX 13500, DE ITEMS , Call DAX 13500, DE ITEMS , Put DAX 10200, DE ITEMS -80-6, Put ESTX , DE ITEMS , Put ESTX , DE ITEMS , Put ESTX , DE ITEMS 200 7, Put ESTX , DE ITEMS , Put ESTX , DE ITEMS , Call ESTX , DE ITEMS 100 1, Call ESTX , DE ITEMS Call ESTX , DE ITEMS Put ESTX , DE ITEMS Put ESTX , DE ITEMS , Put ESTX , DE ITEMS , Put ESTX , DE ITEMS 400 1, Put ESTX , DE ITEMS , Put ESTX , DE ITEMS -86-3, Put ESTX , DE ITEMS , Put ESTX , DE ITEMS , Put ESTX , DE ITEMS , Call CBOE VIX 45, XC000A0QZEJ6 ITEMS 200 5, Call CBOE VIX 32, XC000A0QZEJ6 ITEMS 310 3, Call CBOE VIX 42, XC000A0QZEJ6 ITEMS 200 4, Total stock index derivatives EUR 194, Options Call VSTOXX Index Options on Futures Juli ,00 DE000A2BM405 UNITS Total options EUR SEMI-ANNUAL REPORT DREISAM INCOME 6

7 Statement of assets as of June 30, 2018 Items/ Purchases/ Sales/ % Asset class ISIN Market units/ Volume additions disposals Price Market value of fund currency June 30, in in thou in period under review EUR assets Bank balances and non-group money market funds Bank balances EUR balances Depositary: State Street Bank International GmbH EUR 576, , Balances non-eu/eea-currencies CZK 140, , Total bank balances EUR 581, Non-group money market funds Amundi Cash Corporate Actions au Porteur IC o.n. FR UNITS EUR 234, ,874, Total money market funds EUR 1,874, Other assets Dividend rights EUR 14, ,57 0,04 Initial Margin EUR 284, ,90 0,88 Total other assets EUR 299, Liabilities from borrowings Loans in non-eu/eea-currencies USD -19, , Total liabilities from borrowings EUR -16, Other liabilities 1) EUR -42, EUR -42, Fund assets EUR 32,139, *) Unit value Dreisam Income-I EUR Units in circulation ITEMS 111,575 Unit value Dreisam Income-R EUR Units in circulation ITEMS 28,640 Unit value Dreisam Income-S PLN Units in circulation ITEMS 176,277 Footnotes: *) Minor discrepancies may arise through rounding-off of percentages during the calculation. 1) Auditing costs, publication costs, depositary remuneration, management remuneration and performance fee not yet paid Transactions executed through affiliates. The proportion of transactions executed in the reporting period through affiliated brokers for account of the fund was 0.67 %. This amounted to a total of EUR 796, for these transactions. Security prices/market rates The fund s assets have been valued on the basis of the following prices/market rates. Exchange rates (indirect quotation) as of June 29, 2018 Czech krone CZK = 1 euro (EUR) US dollar USD = 1 euro (EUR) Market key b) Future exchanges XEUR EUREX DEUTSCHLAND XCBO CHICAGO BOARD OPTIONS EXCHANGE SEMI-ANNUAL REPORT DREISAM INCOME 7

8 Transactions executed during the period under review which are not listed in the statement of assets: purchases and sales of securities, investment units and borrowers note loans (market allocation as of the reporting date) Asset Class ISIN Items/ Exchange traded securities Stock Units/ currency in thou. Purchases/additions Sales/disposals Volume in thou. Deutsche EuroShop DE ITEMS 10,000 10,000 EVN AT ITEMS - 25,000 Securities admitted to or included in organized markets Certificates BNP Paribas Em.-u.Handelsg.mbH MEM.EXPRESS Z NYSE Ar. DE000PB91LB5 ITEMS - 2,000 BNP Paribas Em.-u.Handelsg.mbH MEM.EXPRESS Z STXE 600 DE000PB91LU5 ITEMS BNP Paribas Em.-u.Handelsg.mbH Step-Down Expr.Z DE000PB91K40 ITEMS - 2,000 Commerzbank AG MEM.EXP.R.Z SX5E DE000CZ45DK6 ITEMS DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0E1U9 ITEMS 3,000 7,000 DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0EYQ0 ITEMS - 1,500 DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0F680 ITEMS - 1,500 DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0KH31 ITEMS - 1,000 DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0KDB3 ITEMS - 1,500 DekaBank Dt.Girozentrale ExpZert Relax SX5E DE000DK0J781 ITEMS 3,500 4,500 DekaBank Dt.Girozentrale ExpZert Relax SX7E DE000DK0NNZ5 ITEMS 2,500 2,500 DekaBank Dt.Girozentrale ExpZert Relax SXEP DE000DK0KLP6 ITEMS - 4,000 Deutsche Bank AG EXPR.Z ESTX 50 DE000DB9T4N1 ITEMS - 1,000 DZ BANK AG Deut.Zentral-Gen. MEMORY RELAX EXPRESS ESX 16/24 DE000DGE0X18 ITEMS - 3,000 Landesbank Baden-Württemberg Deep-Exp-Z SX5E DE000LB02677 ITEMS - 1,500 Landesbank Baden-Württemberg Deep-Exp-Z SX5E DE000LB01TV4 ITEMS 1,500 4,500 Landesbank Baden-Württemberg Deep-Exp-Z SX5E DE000LB1FYL7 ITEMS 2,500 2,500 Société Générale Effekten GmbH M.Express Z Basket DE000SGM95M4 ITEMS 2,500 2,500 Société Générale Effekten GmbH MEMORY EXPR.Z S600BR DE000SG5Q8Y3 ITEMS - 1,200 Société Générale Effekten GmbH MEMORY EXPR.Z Basket DE000SGM94D6 ITEMS - 6,500 Société Générale Effekten GmbH MEMORY EXPR.Z Basket DE000SGM9561 ITEMS - 9,500 Société Générale Effekten GmbH Trio Memory Z Basket DE000SG497K0 ITEMS - 1,000 UBS AG (London Branch) Express Z ESTX 50 DE000UBS5DL1 ITEMS 4,500 6,500 Derivatives (Option premiums realized in opening transactions respectively volume of options transactions, for warrants information on purchases and sales) Futures Stock index futures Purchased contracts: Underlying: DJES 50 Index (Price) (EUR) EUR Sold contracts: Underlying: DAX Index, DJES 50 Index (Price) (EUR) EUR 33, Options on stock index derivatives Options on stock indices Purchased call options (Call): Underlying: DAX Index, DJES 50 Index (Price) (EUR) EUR 1, Purchased put options (Put): Underlying: DAX Index, DJES 50 Index (Price) (EUR) EUR 2, Sold call options (Call): Underlying: DAX Index, DJES 50 Index (Price) (EUR) EUR Sold put options (Put): Underlying: DAX Index, DJES 50 Index (Price) (EUR) EUR 2, Options on stock index futures Purchased call options (Call): Underlying: VSTOXX Mini Index Futures EUR 5.96 SEMI-ANNUAL REPORT DREISAM INCOME 8

9 Appendix pursuant to 7 no. 9 KARBV Information pursuant to the Ordinance on Derivative Financial Instruments Exposure realized by derivatives EUR 1,828, This amount includes netting and hedging effects of the underlying derivatives in the fund. Counterparty of derivative transactions AFS Equity & Derivatives B.V. Donner & Reuschel AG Goldman Sachs Group Inc. NatWest Markets PLC Royal Bk of Scotld Securities as % of fund assets Derivatives as % of fund assets 0.61 Other information Unit value Dreisam Income-I EUR Units in circulation ITEMS 111,575 Unit value Dreisam Income-R EUR Units in circulation ITEMS 28,640 Unit value Dreisam Income-S EUR Units in circulation ITEMS 176,277 Class-I: management fee 1.50 % p.a., subscription fee 0.00%, appropriation of income: distribution Class-R: management fee 1.95 % p.a., subscription fee 5.00%, appropriation of income: distribution Class-S: management fee 1.00 % p.a., subscription fee 0.00%, appropriation of income: distribution Information regarding the valuation of the assets Assets which are admitted to official market trading on a stock exchange or are traded on another organized market are valued on the basis of the traded closing prices on the previous day of stock exchange trading pursuant to 27 of the German Capital Investment Accounting and Valuation Ordinance (Kapitalanlage-Rechnungslegungs- und Bewertungsverordnung, KARBV). Unlisted bonds and borrowers note loans are valued on the basis of their yield values. Investment certificates are reported at their most recently published redemption prices. Assets which are not admitting to trading on a stock exchange or traded on an organized market or for which no traded price is available are valued at prices provided by recognized data feed providers. In the event that these prices are not reliable, the current market value determined by means of suitable valuation models will be used ( 28 KARBV). Lump-sum payments to the investment management company or third parties The investment management company is not reimbursed for remuneration and expenses paid to the depositary and third parties out of the fund s assets. The investment management company pays so-called trail fees to brokers in significant amounts on the basis of the remuneration paid to her out of the fund s assets. Information regarding employee remuneration in the financial year 2017 Total amount of employee remuneration paid in the preceeding business year of the investment management company (incl. managing directors): EUR 9,668, thereof fix: EUR 7,731, thereof variable: EUR 1,939, Headcount of the investment management company: 128 Total amount of remuneration paid to risktakers (management only) in the preceeding business year 2017 of the investment management company: EUR 879, SEMI-ANNUAL REPORT DREISAM INCOME 9

10 Investment company, depositary and committees Investment company: HANSAINVEST Hanseatische Investment-GmbH Postfach Hamburg Office address: Kapstadtring Hamburg Customer service center: Telephone: (040) Fax: (040) Internet: service@hansainvest.de Subscribed capital: T 10,500 Equity capital: T 14,154 (As of: December 31, 2017) Shareholders: SIGNAL IDUNA Allgemeine Versicherung AG, Dortmund IDUNA Vereinigte Lebensversicherung ag für Handwerk, Handel und Gewerbe, Hamburg Depositary: State Street Bank International GmbH, Frankfurt Subscribed capital: million Equity capital: 2,226.3 million (As of: December 31, 2017) Incoming payments: UniCredit Bank AG, Munich (previously Bayerische Hypo- und Vereinsbank) BIC: HYVEDEMM300 IBAN: DE Supervisory board: Martin Berger (chairman), Member of the management board of SIGNAL IDUNA Group, Hamburg (also chairman of the supervisory board of SIGNAL IDUNA Asset Management GmbH) Dr. Karl-Josef Bierth (deputy chairman), Member of the management board of SIGNAL IDUNA Group, Hamburg Thomas Gollub, Adviser to Aramea Asset Management AG, Wedel Dr. Thomas A. Lange, Chairman of the management board of National-Bank AG, Essen Prof. Dr. Harald Stützer, Managing partner of STUETZER Real Estate Consulting GmbH, Gerolsbach Prof. Dr. Stephan Schüller Businessman Auditor: PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Hamburg SEMI-ANNUAL REPORT DREISAM INCOME 10

11 Management board: Nicholas Brinckmann (also spokesman of the management board of HANSAINVEST Real Assets GmbH) Marc Drießen (also deputy president of the board of directors of HANSAINVEST LUX S.A.) Dr. Jörg W. Stotz (also president of the board of directors of HANSAINVEST LUX S.A., member of the management board of SIGNAL IDUNA Asset Management GmbH and member of the management board of HANSAINVEST Real Assets GmbH) SEMI-ANNUAL REPORT DREISAM INCOME 11

12 HANSAINVEST Hanseatische Investment-GmbH A SIGNAL IDUNA Group company Kapstadtring Hamburg Telephone: (040) Fax: (040) service@hansainvest.de