DWS Concept Kaldemorgen

Well mixed - with decades of investment experience

Whether brightly coloured or pastel – always go with the trend

The more colours available, the more precisely individual nuances can be worked out. But not all combinations make sense, which is why a painter mixes his colour tones with care and draws on his knowledge and experience. Similarly, a sensible multi-asset portfolio does not result from the indiscriminate combination of asset classes. Also here applies, the freer the fund manager is in his choice, the more precisely he can adjust the portfolio to the market situation.

Balanced ratio

Mixed funds invest in various asset classes. Depending on the focus of a balanced fund, there are more or fewer restrictions, for example in the choice of asset classes or their weighting.

Mixing with full flexibility

The DWS Concept Kaldemorgen utilises its opportunities to achieve returns with an appropriate level of risk.

Enjoying freedom

High flexibility in the mix of asset classes, in order to take advantage of opportunities in any market situation – without specifications or restrictions.

Limiting risks

Permanent monitoring and a rigorous risk management approach developed in-house take care that the volatility[1] of the portfolio is limited.

Seizing opportunities

Equities play an important role in generating income. Further opportunities can be seized in order to achieve an optimised risk-adjusted return.[2]

Using experience

Behind the DWS Concept Kaldemorgen is a team with many years of investment experience, to put together a mix that suits to the current market situation.

" The DWS Concept Kaldemorgen utilises the full range of investment opportunities to achieve returns with an appropriate level of risk.

Christoph Schmidt - Senior Portfolio Manager / Team Lead Multi Asset & Solutions

Striking the right tone depending on the situation

The asset classes are weighted according to the market environment

Asset class allocation since the launch of the DWS Concept Kaldemorgen on 2 May 2011

Utilising opportunities to improve the result

Always keeping an eye on the maximum fluctuation range the fund management invests as return-oriented as possible

Returns of various asset classes compared to the DWS Concept Kaldemorgen LD in per cent.

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Volatility of various asset classes compared to the DWS Concept Kaldemorgen LD in per cent.


Index 01/14 - 01/15 01/15 - 01/16 01/16 - 01/17 01/17 - 01/18 01/18 - 01/19 01/19 - 01/20 01/20 - 01/21 01/21 - 01/22 01/22 - 01/23 01/23 - 01/24
iBoxx Euro Sovereign 1–3 1,4% 0,7% -0,1% -0,2% 0,1% 0,4% -0,2% -0,8% -4,2% 3,2%
iBoxx Euro Sovereign 7–10 15,4% 2,4% -0,7% 2,4% 3,7% 7,8% 1,6% -3,7% -16,0% 5,3%
iBoxx Euro Corporate 7,7% -1,0% 3,5% 2,7% 0,1% 6,4% 1,4% -2,3% -11,1% 6,0%
iBoxx Euro Liquid High Yield 4,4% -1,8% 9,8% 4,4% -1,5% 7,4% 1,9% 1,4% -5,6% 9,2%
JPM USD Government Bond (USD) 7,4% 0,2% -0,9% 0,8% 2,7% 9,4% 4,4% -3,1% -8,4% 0,8%
DAX 14,9% -8,4% 17,7% 14,3% -15,3% 16,2% 3,5% 15,2% -2,2% 11,7%
S&P 500 (USD) 14,2% -0,7% 20,0% 26,4% -2,3% 21,7% 17,2% 23,3% -8,2% 20,8%
MSCI AC Asia (lokale Währung) 16,3% -7,1% 14,0% 30,8% -11,7% 8,2% 24,5% -3,7% -2,5% 8,3%
EUR/USD 19,5% 4,3% 0,1% -13,2% 8,6% 3,5% -8,8% 8,4% 3,2% 0,0%
Bloomberg Commodity (USD) -20,0% -23,4% 13,8% 3,6% -8,2% -5,4% 7,3% 34,7% 6,2% -7,1%
Gold (USD) 2,5% -12,3% 8,4% 10,7% -1,4% 20,0% 17,1% -3,3% 7,3% 6,2%

Past performance is not a reliable indicator of future performance.
(iBoxx Euro Sovereign), US bonds (JPM US Government Bond Index in USD), German equities (DAX), US equities (S&P 500 in USD), Asian equities (MSCI AC Asia in local currency), commodities (Bloomberg Commodity Index in USD); Source: DWS International GmbH; as at January 2024.

Strict control of risks

A strict, specially developed risk management approach is used to monitor the fluctuation margin.

 

Targeted limits

 

The range of fluctuation (volatility)* should not exceed 10%. In addition, the decline in the fund price should be limited to max. 10% per calendar year.

 

 

Procedure

 


The fluctuation range (volatility)* or the decline in the fund price should be limited to a maximum of 10% per calendar year.

 

No assurance can be given that the envisaged investment objectives will be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models or analyses that may turn out to be inaccurate or incorrect. *A parameter for determining the fluctuation range of a value such as a share price.

The flagship portfolio managers behind the DWS Concept Kaldemorgen

The fund's direct multi-asset total return team consists of a total of 10 members.

Portrait - Klaus Kaldemorgen rund.jpg

Klaus Kaldemorgen

Co-Lead Portfolio Manager

Portrait - Henning Potstada rund.jpg

Henning Potstada

Deputy Portfolio Manager

Portrait - Christoph Schmidt rund.jpg

Christoph Schmidt

Co-Lead Portfolio Manager

Portrait - Thomas Graby rund.jpg

Thomas Graby

Deputy Portfolio Manager

DWS Concept Kaldemorgen LC

DWS Concept Kaldemorgen LC

Total Return Strategies/Growth-oriented

ISIN: LU0599946893

Currency: EUR

Management Fee: 1.5000%

Morningstar Rating from Feb 29, 2024

Go to Product Detail Page

Fund details of DWS Concept Kaldemorgen LC

Shareclass

LC

Currency

EUR

ISIN

LU0599946893

Front-end Load[3]

5.00%

Current costs (as of: 31/12/2023)

1.550%

Plus performance-related fee from securities lending returns

0.100%

Earnings

Accumulation

Risks[4]

  • Market, sector and company-related exchange rate fluctuations.

  • Exchange rate fluctuations.

  • The unit value may fall below the purchase price at which the client acquired the unit.

  • Due to its composition/the techniques used by the fund management, the investment fund is characterised by increased volatility, i.e. the unit prices may be subject to strong downward or upward fluctuations even within short periods of time.

  • The fund concludes a significant number of derivative transactions with various contractual partners. A derivative is a financial instrument whose value depends on the performance of one or more underlying assets. Due to its structure (e.g. due to a leverage effect), it can influence the fund to a greater extent than is the case with the direct purchase of the underlying assets.
  • The fund invests in convertible bonds and bonds with warrants. Convertible bonds and bonds with warrants securitise the right to convert the bond into shares or to acquire shares. The performance of the value of convertible bonds and bonds with warrants is therefore dependent on the performance of the share as the underlying asset. The risks associated with the performance of the underlying shares can therefore also affect the performance of the convertible bond and bond with warrants.

  • The fund invests in bonds whose value depends on whether the issuer is able to make its payments. A deterioration in the quality of the debtor (ability and willingness to repay) can have a negative impact on the value of the bond.

1. A parameter used to determine the range of fluctuation of a value such as a share price.

2. Risk-adjusted return means the assessment of an achievable or achieved return of an investment taking into account the respective risk, for example measured by the fluctuation margin (volatility) of a financial instrument.

3. Based on the gross investment amount: 5.00% based on the gross investment amount corresponds to approx. 5.26% based on the net investment amount.

4. Details can be found in the sales prospectus.

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