Julius Meinl Investment GmbH. Key Data and Public Funds

Transcription

1 Julius Meinl Investment GmbH Key Data and Public Funds Vienna, October 2013

2 Meinl Investment GmbH History JULIUS MEINL INVESTMENT was founded in In the same year, the first investment funds: Capitol 1, Capitol 2 and Wall Street Capital, were launched. Key data Assets under Management: 203,44 Mio. Funds: 19 Owner: Meinl Bank (100%) Awards Over the years, the company and its funds have received several awards, including the Standard & Poors Fund Award, Morningstar Awards, & Lipper. 2

3 Meinl Investment GmbH Range of Funds Multi-Asset Funds Meinl Exclusive World Bonds & Properties Meinl Capital Invest Meinl Quattro eu Meinl Trio Meinl Allinvest Equity Funds Meinl Equity Austria Meinl Core Europe Meinl Exclusive World Equities Meinl Wall Street Capital EM Equity Funds Meinl Asia Capital Meinl India Growth Meinl Eastern Europe Property Fund Meinl Global Property Bond Funds Meinl Liquid Meinl Capitol 1 Meinl Euro Bond Protect Meinl Japan Trend 3

4 Fund Overview Fund Launch date ISIN Fund Regi Initial Management Return Risk and annualized Performance Fund Size Currency stra Charge Fee Type Rewards YTD 1 year 3 years 5 years Since in Mio. tion Profile * Inception EUR Property Funds Meinl Global Property AT0000A000C8 EUR A 5,00% 1,5%+15% Perf Fee Accumulation 6 5,26 11,95 9,74 7,60 0,15 10,43 A0JD82 EUR D 5,00% 1,5%+15% Perf Fee Accumulation 6 5,26 11,95 9,74 7,60 0,15 10,43 Bond Funds Meinl Liquid AT EUR A 1,50% 0,20% Distribution 2-0,46-0,04 1,40 2,25 4,50 2,11 Meinl Capitol AT EUR A 2,50% 0,35% Distribution 3-0,60 0,12 2,45 2,70 4,96 9,67 Meinl Euro Bond Protect AT EUR A 3,50% 0,75% Distribution 3-1,66-0,54 1,49 1,13 3,88 0,90 Mixed Funds M.E.W. Bonds & Properties AT EUR A 4,00% 0,95% Accumulation 4-0,92 1,30 3,27 1,79 2,43 12,33 A0F6DL EUR D 4,00% 0,95% Accumulation 4-0,92 1,30 3,27 1,79 2,43 12,33 Meinl Capital Invest AT EUR A 4,50% 0,70% Distribution 4 2,44 4,80 2,19 3,18 4,34 2,03 Meinl Trio AT EUR A 2,50% 1,50% Distribution 4 4,55 9,18 4,47 4,88 2,01 2,74 Meinl Quattro eu AT EUR A 5,00% 2,00% Accumulation 5 0,99 3,51 2,56 3,35 1,38 22,05 A0DM97 EUR D 5,00% 2,00% Accumulation 5 0,99 3,51 2,56 3,35 1,38 22,05 Meinl Allinvest AT0000A04BS7 EUR A 5,00% 1,50% Distribution 4 4,15 8,94 3,95 1,93-1,70 1,75 Equity Funds Meinl Equity Austria AT EUR A 5,00% 1,50% Distribution 7-3,70 4,62-3,36-0,84 7,27 91,96 A0D86Z EUR D 5,00% 1,50% Distribution 7-3,70 4,62-3,36-0,84 7,27 91,96 Meinl Core Europe AT EUR A 4,50% 1,60% Distribution 7 16,86 28,25 7,95 9,67 7,03 3, AT EUR A 4,50% 1,60% Accumulation 7 16,87 28,26 7,95 9,67 3,85 3,75 M.E.W. Equities AT EUR A 5,00% 1,70% Accumulation 6 12,10 15,76 6,02 6,57 2,33 3,74 Meinl Wall Street Capital AT USD A 5,00% 2,50% Distribution 7 30,33 27,76 9,91 12,38 4,75 0,66 Meinl Asia Capital AT EUR A 5,00% 1,60% Distribution 7-1,45 6,45 4,64 10,78 6,36 5,87 A0D860 EUR D 5,00% 1,60% Distribution 7-1,45 6,45 4,64 10,78 6,36 5,87 Meinl Eastern Europe AT0000A05JR9 EUR A 5,00% 2,0%+20% Perf. Fee Accumulation 7-3,66-3,41-3,80 2,66-6,54 1,60 A0MX0K EUR D 5,00% 2,0%+20% Perf. Fee Accumulation 7-3,66-3,41-3,80 2,66-6,54 1,60 Meinl Japan Trend AT EUR A 5,00% 1,60% Distribution 6 16,32 23,98 6,72 6,44-1,66 2,94 A0MT5H EUR D 5,00% 1,60% Distribution 6 16,32 23,98 6,72 6,44-1,66 2,94 Meinl India Growth AT EUR A 5,00% 2,00% Distribution 7-13,51-14,31-11,25 1,51 3,44 5,23 A0ERS6 EUR D 5,00% 2,00% Distribution 7-13,51-14,31-11,25 1,51 3,44 5,23 as per ; source: ÖKB Profitweb * Risk and Rewards Profile (1= Lower Risk, Potentially Lower Rewards; 7= Higher Risk, Potentially Higher Rewards) 4

5 The Challenge What will the future hold? Between fear & greed.. 5

6 The Solution Meinl Quattro eu Flexible Asset Allocation Meinl Quattro eu is a dynamic multi asset fund of fund which deversifies in stocks, bonds, real estate and alternative strategies. The Fund s management is essentially based on the analysis of macroeconomic data. For the equities, investments are conducted globally using a regional approach. Bonds are widely diversified, ranging from government and corporate bonds to high yields, emerging markets and convertibles. 6

7 Highly Diversified Portfolio Equity Bonds 1,000 0,633 0,344 0,117 0,000 0,558 0,125 0,122 0,215 0,197 0,547 0,085 0,352 0,031 0,194 0,051 0,381-0,033 0,633 1,000 0,104 0,406 0,001 0,439 0,141 0,183 0,346 0,203 0,325 0,177 0,308-0,091 0,238 0,005 0,318 0,013 0,344 0,104 1,000-0,042 0,051 0,365-0,012 0,034 0,075 0,289 0,702-0,005 0,533 0,086 0,347 0,037 0,164-0,165 Equity 0,117 0,406-0,042 1,000 0,019 0,105 0,279 0,295 0,653 0,085-0,002 0,215 0,040-0,165 0,109-0,008 0,168 0,244 0,000 0,001 0,051 0,019 1,000-0,100 0,025 0,289 0,153-0,048 0,049 0,027-0,011 0,175-0,006-0,093 0,045-0,010 0,558 0,439 0,365 0,105-0,100 1,000 0,126 0,035 0,174 0,375 0,507 0,076 0,576 0,014 0,447 0,220 0,316-0,001 0,125 0,141-0,012 0,279 0,025 0,126 1,000 0,355 0,412 0,045 0,049 0,045 0,028 0,053 0,125-0,022 0,058 0,068 0,122 0,183 0,034 0,295 0,289 0,035 0,355 1,000 0,566 0,027 0,113 0,049 0,075 0,062 0,201-0,065 0,028 0,084 0,215 0,346 0,075 0,653 0,153 0,174 0,412 0,566 1,000 0,049 0,185 0,029 0,131 0,014 0,190-0,009 0,190 0,157 0,197 0,203 0,289 0,085-0,048 0,375 0,045 0,027 0,049 1,000 0,374 0,057 0,513 0,121 0,373 0,325 0,244 0,126 0,547 0,325 0,702-0,002 0,049 0,507 0,049 0,113 0,185 0,374 1,000 0,029 0,578 0,110 0,330 0,034 0,310-0,163 0,085 0,177-0,005 0,215 0,027 0,076 0,045 0,049 0,029 0,057 0,029 1,000 0,084-0,134 0,111-0,093 0,001 0,095 Bonds 0,352 0,308 0,533 0,040-0,011 0,576 0,028 0,075 0,131 0,513 0,578 0,084 1,000 0,095 0,542 0,288 0,273-0,082 0,031-0,091 0,086-0,165 0,175 0,014 0,053 0,062 0,014 0,121 0,110-0,134 0,095 1,000 0,018 0,285 0,094 0,009 0,194 0,238 0,347 0,109-0,006 0,447 0,125 0,201 0,190 0,373 0,330 0,111 0,542 0,018 1,000 0,218 0,187-0,047 0,051 0,005 0,037-0,008-0,093 0,220-0,022-0,065-0,009 0,325 0,034-0,093 0,288 0,285 0,218 1,000 0,078 0,050 0,381 0,318 0,164 0,168 0,045 0,316 0,058 0,028 0,190 0,244 0,310 0,001 0,273 0,094 0,187 0,078 1,000 0,015 Real Estate Alternatives -0,033 0,013-0,165 0,244-0,010-0,001 0,068 0,084 0,157 0,126-0,163 0,095-0,082 0,009-0,047 0,050 0,015 1,000 0,504 0,588 0,201 0,237-0,015 0,545 0,194 0,141 0,257 0,410 0,368 0,095 0,546 0,082 0,345 0,359 0,301-0,010 0,504 0,532 0,536 0,393 0,441 0,252-0,548 0,371 0,328 0,164-0,200-0,469 0,055 0,224 0,470 0,076 0,321 0,183 0,360-0,070 0,532 0,405 0,360 0,046-0,035 0,580 0,048 0,047 0,077 0,409 0,481 0,119 0,536 0,481 0,307 0,128-0,027 0,607 0,151 0,099 0,130 0,418 0,467 0,588 0,0930,405 0,459 0,119 0,5030,356 0,363 0,206 0,115 0,387-0,344-0,050 0,481 0,313 0,247 0,049-0,074-0,217 0,101 0,157 0,393 0,503-0,024 0,334 0,115 0,319 0,221 0,207 0,417 0,238 0,180 0,201 0,0840,360 0,257 0,101-0,0240,202 0,275 0,296 0,654 0,241-0,443 0,114 0,307 0,189 0,070-0,021-0,153-0,639-0,010 0,236 0,441 0,363 0,275 0,112-0,054 0,579 0,131 0,127 0,125 0,462 0,390 0,237 0,0630,046 0,608 0,069 0,3340,384 0,112 0,340-0,018 0,242-0,020 0,105 0,128 0,048 0,079 0,015 0,048 0,048 0,135 0,008 Equity Real Estate Alternatives 0,252 0,115 0,654-0,018-0,032 0,337-0,018-0,017 0,030 0,258 0,614-0,015 0,004-0,035 0,537 0,069 0,1150,397-0,054 0,079-0,032 0,156-0,145 0,026-0,027-0,041 0,034-0,055 0,047 0,022 0,022 0,040-0,548-0,344-0,443 0,105 0,026-0,520-0,023-0,059-0,124-0,318-0,622 0,545 0,0060,580-0,481 0,607-0,097 0,319-0,208 0,579-0,066 0,337-0,260-0,520 0,136 0,371 0,220 0,104-0,182-0,432-0,046 0,346 0,371 0,313 0,189 0,048-0,041 0,371 0,100-0,029 0,131 0,244 0,356 0,194 0,0280,048 0,255 0,151 0,082 0,2210,193 0,131 0,070-0,018 0,169-0,023 0,100 0,057 0,059-0,007-0,006 0,081-0,001 0,328 0,247 0,070 0,079 0,034 0,220 0,057-0,023 0,040 0,069 0,240-0,046 0,132 0,053-0,024-0,034 0,190 0,011 0,141 0,047 0,099 0,207 0,127-0,017-0,059-0,029-0,023-0,012 0,004-0,045 0,010 0,030 0,164 0,049-0,021 0,015-0,055 0,104 0,059-0,012 0,031-0,316 0,008 0,031-0,168-0,111-0,142-0,187 0,080 0,085 0,257 0,077 0,130 0,417 0,125 0,030-0,124 0,131 0,040 0,031-0,041-0,081-0,032 0,059-0,200-0,074-0,153 0,048 0,047-0,182-0,007 0,004-0,041-0,121-0,246-0,100-0,127 0,017-0,089 0,090-0,108 0,115 0,410 0,409 0,418 0,238 0,462 0,258-0,318 0,244 0,069-0,316-0,121-0,265 0,009 0,307-0,469-0,217-0,639 0,048 0,022-0,432-0,006-0,045-0,081-0,265-0,695 0,077-0,440-0,111-0,169-0,076-0,191 0,162 0,055 0,101-0,010 0,135 0,022-0,046 0,081 0,010-0,032 0,009-0,037 0,368 0,069 0,470-0,060 0,467-0,092 0,180-0,057 0,390-0,106 0,614-0,024-0,622 0,089 0,356 0,240 0,008-0,246-0,695-0,037 0,369 0,224 0,157 0,236 0,008 0,040 0,346-0,001 0,030 0,059 0,307 0,369 0,095-0,0220,076 0,255 0,093 0,161 0,0840,059 0,063 0,066 0,004 0,145 0,024 0,006 0,028-0,046 0,031-0,100 0,077 0,069-0,022 0,546 0,481 0,459 0,257 0,608 0,537-0,481 0,255 0,132-0,168-0,127-0,440-0,060 0,255 Bonds 0,082 0,119 0,119 0,101 0,069 0,069-0,097 0,082 0,053-0,111 0,017-0,111-0,092 0,161 0,345 0,321 0,356 0,202 0,384 0,397-0,208 0,193-0,024-0,142-0,089-0,169-0,057 0,059 0,359 0,183 0,206 0,296 0,340 0,079-0,066 0,070-0,034-0,187 0,090-0,076-0,106 0,066 0,301 0,360 0,387 0,241 0,242 0,156-0,260 0,169 0,190 0,080-0,108-0,191-0,024 0,145-0,010-0,070-0,050 0,114-0,020-0,145 0,136-0,023 0,011 0,085 0,115 0,162 0,089 0,024 1,000 0,540 0,594 0,740 0,746 0,267-0,402 0,272 0,175-0,117-0,054-0,277 0,025 0,237 Correlation > 0,5 Real Estate Alternatives 0,540 1,000 0,853 0,248 0,503 0,351-0,551 0,417 0,274 0,070-0,217-0,435 0,030 0,268 0,594 0,853 1,000 0,320 0,471 0,285-0,488 0,467 0,337 0,058-0,175-0,397 0,015 0,270 0,740 0,248 0,320 1,000 0,415 0,075-0,184 0,129 0,074-0,073 0,021-0,090-0,007 0,157 0,746 0,503 0,471 0,415 1,000 0,365-0,407 0,247 0,197-0,120-0,060-0,304 0,080 0,290 0,267 0,351 0,285 0,075 0,365 1,000-0,330 0,198 0,082-0,125-0,057-0,486 0,067 0,196-0,402-0,551-0,488-0,184-0,407-0,330 1,000-0,479-0,173-0,097 0,441 0,668 0,070-0,432 0,272 0,417 0,467 0,129 0,247 0,198-0,479 1,000 0,391 0,062-0,126-0,313 0,087 0,278 0,175 0,274 0,337 0,074 0,197 0,082-0,173 0,391 1,000 0,089 0,183-0,188 0,197 0,238-0,117 0,070 0,058-0,073-0,120-0,125-0,097 0,062 0,089 1,000-0,073-0,033 0,048 0,064-0,054-0,217-0,175 0,021-0,060-0,057 0,441-0,126 0,183-0,073 1,000 0,220 0,096-0,103-0,277-0,435-0,397-0,090-0,304-0,486 0,668-0,313-0,188-0,033 0,220 1,000 0,085-0,373 0,025 0,030 0,015-0,007 0,080 0,067 0,070 0,087 0,197 0,048 0,096 0,085 1,000 0,071 0,237 0,268 0,270 0,157 0,290 0,196-0,432 0,278 0,238 0,064-0,103-0,373 0,071 1,000 Data Source: Bloomberg 7

8 The Quattro Concept Alternatives Bonds Real Estate Equity Neutral Position 25% Bonds 25% Equity 25% Real Estate 25% Alternatives Exposure through Funds Leeway 10% for every Asset Class 8

9 Investment Process Asset Allocation Fundamental Market Model Screening for global fundamental imbalances through Index multiples (P/E, P/B, P/C ) Qualitative Analysis Earnings (estimates, revisions, etc.) Monitoring of commodity prices Analysis of credit spreads Macroeconomic outlooks Trend Model Screening for trending markets using DMI and MOV, as well as trend reversions through RSI and mean reversion concepts Alternatives Bonds Real Estate Equity 9

10 Position at the Moment 10

11 3Y Performance Source: Bloomberg 11

12 Top 10 Holdings 12

13 Fund Facts Overview: Fees: recommended length to keep: 7 years Initial charge: 5% Risk and Rewards Profile: Management fee: 2% ISIN: AT Fund currency: EUR Launch date: Performance (source OeKB): Return type: Accumulation year to date 0,99% Fiscal year: / year 3,51% Ongoing charges: 3,30% as per years p.a. 2,56% last dividend per unit: EUR 0,00 as per years p.a. 3,35% Fund Manager: Mag. Robert Binder, CFA Since inception p.a. 1,38% 13

14 Disclaimer This Presentation Document is prepared for information purposes and for distribution to professional and business customers by Meinl Bank AG and does not constitute an offer or solicitation to buy or sell investment funds. It is not intended for distribution to, or use by, any person in any jurisdiction where such distribution of or use is prohibited by law or regulation. The information contained in this Presentation Document has been obtained from reliable sources and has not been verified by Meinl Bank AG. Meinl Bank AG makes no claims to its completeness or accuracy. This Presentation Document reflects current views which may be subject to change without prior notice. Meinl Bank AG undertakes no obligation to provide the recipient with access to any additional information or to update this Presentation Document or to correct any inaccuracies therein which may become apparent. The investment discussed in this Presentation Document may be unsuitable for investors depending on their specific investment objectives or financial position. Investors should obtain individual advice of the bankers/brokers or other advisors about the investment concerned, prior to making their final investment decision. Past price development is no indicator of future developments. Neither Meinl Bank AG nor any of its representatives or employees accepts any liability whatsoever for any direct or consequential loss arising from any use of this Presentation Document or its contents. This Presentation Document must not be copied, reproduced, distributed or passed to others at any time without the prior written consent of Meinl Bank AG. This presentation is used for advertisement purposes. The value development and the performance are calculated according to the OEKB method. The value development considers the administration fee. The issue surcharge amounting to 5% incurring once upon purchase and other income-reducing costs like individual account and depository fees have not been considered in the presentation. The market price of the securities and/or investment items of a fund may increase/decrease as compared to the acquisition price. If an investor sells shares in the investment fund at a time at which the price of the securities and/or investment items comprised in the fund have fallen as compared to the time of purchase of the shares, they will consequently not get back all the invested money. Performance results of the past do not allow for conclusions on the future development of an investment fund. The fund provisions were lastly approved of with the notification dated 13th November 2009 and reference number FMA- IF /0040-INV/2009 of the Austrian Financial Market Authority and the brochure was lastly published in the Official Journal of Wiener Zeitung on 28 February 2013 and they are available in German free of charge from Julius Meinl Investment GmbH, 1010 Vienna, Kärntnerring 2 and its depositary bank, Meinl Bank AG, 1014 Vienna, Bauernmarkt 2, as is the KID. The documents are also available at Warning of the Austrian Financial Market Authority: Meinl Exclusive World Equities Fund may invest up to 100% in investments according to 20a subsection 1 no. 3 InvFG (Austrian Investment Fund Act) 1993 (Alternative Investments) that, compared to traditional investments, entail an increased investment risk. These investments may particularly result in loss or even complete failure of the capital invested therein. Warning of the Austrian Financial Market Authority: Meinl Allinvest Fund may invest up to 100% in investments according to 20a subsection 1 no. 3 InvFG (Austrian Investment Fund Act) 1993 (Alternative Investments) that, compared to traditional investments, entail an increased investment risk. These investments may particularly result in loss or even complete failure of the capital invested therein. Due to the increased risk, we recommend every investor to obtain detailed information on Alternative Investments and investment funds and to seek advice from an expert before purchasing any shares. We particularly recommend reading the sales brochure which is enclosed to this document and the KID. No liability is accepted for the accuracy of this information. Source of the risk figures: OeKB High volatility: According to the FMA, a volatility of 6 or more is logically to be categorised as high, as 7 is considered the highest volatility. Please note that the Fund Administrating Company is not yet licensed to manage Alternative Investment Funds according to 4 Abs. 1 AIFMG. However, due to the transitional regulations of the AIFMG, the company is authorized to manage Alternative Investment Funds until the 22nd of July 2014.