Raiffeisen-A.R.-Global-Balanced. Semi-annual fund report 2014

Transcription

1 Semi-annual fund report 2014

2 Table of contents General fund information... 3 Fund characteristics... 3 Legal notice... 4 Fund details... 5 Units in circulation... 5 Fund investment policy report... 5 Makeup of fund assets in EUR... 6 Portfolio of investments in EUR... 7 Semi-annual fund report: 1 January June

3 Semi-annual report from 1 January 2014 to 30 June 2014 is a mixed fund. The fund pursues an investment goal of moderate capital growth and mainly invests (at least 51 % of its fund assets) in equity and bond and/or money market funds. Globally investing equity funds may account for up to 70 % of the fund s assets. The fund may also invest in bonds and money market instruments issued by countries, supranational issuers and/or companies etc., in other securities, in units in other investment funds and in sight deposits and deposits at notice. The fund mainly selects units in investment funds on the basis of the quality of the investment process and these funds performance and risk management. The fund may invest more than 35 % of its fund assets in securities/money market instruments issued by the following issuers: Germany, France, Italy, Switzerland, United Kingdom, USA, Canada, Australia, Japan, Austria, Belgium, Finland, Netherlands, Sweden, Spain. The fund is actively managed and is not limited by means of a benchmark. General fund information Tranche Fund currency Tranche currency Launch date ISIN ISIN income-retaining (T) EUR EUR 3/1/2006 AT ISIN full income-retaining (outside Austria) (VTA) EUR EUR 3/1/2006 AT ISIN savings fund income-retaining (T) EUR EUR 3/1/2006 AT0000A05568 Fund characteristics Financial year: 1 January 31 December Distribution/payment/reinvestment date: 15 March EU directive compliance: EU directive-compliant jointly owned fund under the 2011 Austrian Investment Fund Act (InvFG), as amended Max. management fee for the fund: 1.50 % Max. management fee for subfunds: 1.50 % (excluding any performance-related fee) Custodian bank: Raiffeisen Bank International AG Management company: Raiffeisen Kapitalanlage-Gesellschaft m.b.h. Schwarzenbergplatz 3, A-1010 Vienna Tel , Fax Companies register number: w Fund management: Raiffeisen Kapitalanlage-Gesellschaft m.b.h. Auditor: KPMG Austria AG Semi-annual fund report: 1 January June

4 Legal notice All data and information has been compiled and checked with the greatest care. No liability or guarantee can be assumed for the recentness, correctness and completeness of the information provided. We consider the sources used to be reliable. The software used performs calculations on the basis of more than the two decimal places displayed. Minor discrepancies cannot be ruled out due to further calculations using published results. The value of a unit is calculated by dividing the entire value of the investment fund inclusive of its income by the number of units. The total value of the investment fund is calculated on the basis of the current market prices of the securities, money market instruments and subscription rights in the fund plus the value of the fund s financial investments, cash holdings, credit balances, receivables and other rights net of its payables. That value will be calculated by the custodian bank. The net assets are calculated in accordance with the following principles: a) In principle, the value of assets quoted or traded on a stock market or on another regulated market will be determined on the basis of the most recently available price. b) Where an asset is not quoted or traded on a stock market or another regulated market or where the price for an asset quoted or traded on a stock market or another regulated market does not appropriately reflect its actual market value, the prices provided by reliable data providers or, alternatively, market prices for equivalent securities or other recognized valuation methods shall be used. The performance is calculated by Raiffeisen Kapitalanlage-Gesellschaft m. b. H. using the method developed by OeKB (Österreichische Kontrollbank AG), on the basis of data supplied by the custodian bank (where outpayment of the redemption price is suspended, with use of indicative values). Some costs the subscription fee (not exceeding 3.00 % of the invested amount) and any redemption fee (not exceeding 0.00 % of the sold amount) are not included in the performance calculation. Where included in any calculation, they will accordingly result in a lower performance. Past results do not permit any reliable inferences as to the future performance of the fund. Semi-annual fund report: 1 January June

5 Dear unitholder, Raiffeisen Kapitalanlage-Gesellschaft m.b.h. is pleased to present its semi-annual fund report for Raiffeisen-A.R.-Global- Balanced for the period from 1 January 2014 to 30 June Fund details 31/12/ /6/2014 Fund assets in EUR 4,394, ,361, Net asset value/unit (T) EUR Issue price/unit (T) EUR Net asset value/unit (VTA) EUR Issue price/unit (VTA) EUR Units in circulation AT T AT VTA Units in circulation on 31/12/ , , Sales 32, , Repurchases - 4, , Units in circulation 40, , Total units in circulation on 30/6/ , Fund investment policy report In early January 2014 the fund sold its holdings of commodities and bonds and increased its equities holdings. Following a brief correction on the stock markets, in late January 2014 the fund reduced its holdings of equities and increased its bond holdings. In the period to mid-february 2014, the fund repeatedly sold equities and bought further bonds. In late February 2014 the fund purchased additional equities and reduced its bold holdings. In mid-march 2014 it then lowered its equities exposure and increased its bonds. In late March 2014 the fund purchased additional bonds and sold equities. In mid-april 2014 the fund reduced its bonds and increased its equities holdings. In late April and early May 2014, it purchased additional bonds and reduced its equities exposure. Toward the end of May 2014 the fund once again restructured its investments, purchasing equities and reducing its bond exposure. It continued to restructure its portfolio in early June 2014, albeit to a lesser degree. Semi-annual fund report: 1 January June

6 Makeup of fund assets in EUR Securities Market value % Investment certificates: EUR 2,702, Exchange traded funds: EUR 1,802, Total securities 4,505, Derivative products Valuation of financial futures 3, Bank balances Bank balances in fund currency 1,097, Bank balances in foreign currency 8, Fixed-term deposits in fund currency 750, Total bank balances 1,856, Accruals and deferrals Interest claims (on securities and bank balances) Other items Various fees - 5, Total fund assets 6,361, Semi-annual fund report: 1 January June

7 Portfolio of investments in EUR Dates indicated for securities refer to the issue and redemption dates. An issuer s right of premature redemption (where applicable) is not specified. The securities marked with a "Y" have an open-ended maturity. ISIN SECURITY TITLE CURRENCY VOLUME PURCHASES SALES PRICE MARKET % SHARE 30/6/2014 ADDITIONS DISPOSALS VALUE OF FUND IN PERIOD UNDER REVIEW IN EUR ASSETS INVESTMENT CERTIFICATES IN EURO FOR OTHER ORGANIZED MARKETS AT0000A0T7S0 DURA1_1 (T) EUR 12,780 18,421 14, ,264, AT0000A0ALQ3 RAIFFEISEN SHORT TERM INVESTMENTS (T) EUR 1,914 1, , AT0000A0FXL8 RAIFFEISEN-EMERGINGMARKETS-LOCALBONDS (R) (T) EUR 2,203 8,667 6, , AT RAIFFEISEN EUROPEAN EQUITIES (R) (T) EUR 1,605 3,195 1, , AT RAIFFEISEN GLOBAL EQUITIES (R) (T) EUR 1,451 2,878 1, , AT RAIFFEISEN PACIFIC EQUITIES (R) (T) EUR 2,711 4,600 1, , EXCHANGE TRADED FUNDS IN EURO LU DB X-TR.II-EONIA 1C EUR 4,626 2,585 1, , DE000A0Q4RZ9 I.EB.R.MONEY MARKET U.ETF EUR 6,172 6,172 6, , FR LYXOR UCITS ETF EURO CASH EUR 5,900 3, , TOTAL SECURITIES PORTFOLIO 4,505, FINANCIAL FUTURES FEMI EMINI MSCI EMERG.MARKET USD 4 4 1, FES MINI S&P 500 FUTURE USD 5 5 1, , TOTAL FINANCIAL FUTURES 1 3, BANK BALANCES EUR BALANCES 1,097, BALANCES IN OTHER EU CURRENCIES GBP 1, SEK BALANCES IN NON-EU CURRENCIES AUD CAD CHF HKD JPY USD 5, FIXED-TERM DEPOSITS EUR 750, TOTAL BANK BALANCES 1,856, ACCRUALS AND DEFERRALS INTEREST CLAIMS OTHER ITEMS VARIOUS FEES -5, TOTAL FUND ASSETS 6,361, NET ASSET VALUE PER REINVESTED UNIT EUR NET ASSET VALUE PER FULLY REINVESTED UNIT EUR REINVESTED UNITS IN CIRCULATION UNITS 40, FULLY REINVESTED UNITS IN CIRCULATION UNITS 27, Price gains and losses as of cut-off date. Any discrepancies in terms of % shares of the fund assets result from rounding-off. Semi-annual fund report: 1 January June

8 EXCHANGE RATES FOREIGN CURRENCY ASSETS WERE CONVERTED INTO EUR ON THE BASIS OF THE EXCHANGE RATES APPLICABLE ON 27/6/2014 CURRENCY UNIT PRICE AUSTRALIAN DOLLAR AUD 1 EUR = CANADIAN DOLLAR CAD 1 EUR = SWISS FRANC CHF 1 EUR = BRITISH POUND GBP 1 EUR = HONG KONG DOLLAR HKD 1 EUR = JAPANESE YEN JPY 1 EUR = SWEDISH CROWN SEK 1 EUR = US DOLLAR USD 1 EUR = FUTURES EXCHANGE KEY: CODE CME XNLI STOCK EXCHANGE CHICAGO MERCANTILE EXCHANGE NYSE LIFFE SECURITIES PURCHASES AND SALES DURING THE PERIOD UNDER REVIEW NOT LISTED UNDER THE PORTFOLIO OF ASSETS: ISIN SECURITY TITLE CURRENCY PURCHASES SALES ADDITIONS DISPOSALS INVESTMENT CERTIFICATES IN EURO FOR OTHER ORGANIZED MARKETS AT RAIFFEISEN EURO GOV. BONDS (T) EUR 7,625 7,625 AT0000A02YY1 RAIFFEISEN EURO CORPORATES (T) EUR 1,485 1,485 AT0000A0K0F1 RAIFFEISEN EURO CORE GOV. BONDS (T) EUR 3,485 3,485 AT0000A06QE0 RAIFFEISEN TREASURY ZERO II (T) EUR 7,781 8,297 AT RAIFFEISEN EMERGINGMARKETS BONDS (R) (T) EUR 3,708 3,708 AT RAIFFEISEN EUROPEAN HIGHYIELD (R) (T) EUR 3,883 4,240 AT RAIFFEISEN GLOBAL BONDS (R) (T) EUR 2,493 2,493 EXCHANGE TRADED FUNDS IN EURO FR AMUN.ETF S+P500 EO HED.D. EUR 592 Raiffeisen Kapitalanlage-Gesellschaft m.b.h. complies with the code of conduct for the Austrian investment fund industry Vienna, 4 August 2014 Semi-annual fund report: 1 January June