Fees reduced on Top Stars Fund
Deutsche Asset & Wealth Management is reducing fees on its DB Platinum IV European Top Stars Fund, which provides investors with exposure to Deutsche Bank’s European equity research expertise in a UCITS fund format.
The total expense ratio (TER) for the fund’s most popular institutional share class, the ‘I1C’, has been reduced from 1.16 per cent per annum to 0.76 per cent per annum.
While the average performance recorded for European equity large-cap funds in 2012 was +19.4 per cent, the European Top Stars Fund recorded performance of +34.5 per cent, ranking it top in its peer group (Source: Morningstar). Since its launch in 2009 the fund has consistently beaten key European equity benchmarks such as the Euro Stoxx 600 index (Source, Bloomberg).
Alex McKenna, Deutsche Asset & Wealth Management’s head of systematic funds, says: “Our European Top Stars Fund aims to systematically harness the short-term, high conviction ideas put forward by Deutsche Bank’s lead European equity research analysts. The analysts have proven successful in finding fundamental drivers of likely short term outperformance within companies that the market has failed to recognise, and we hope that by reducing the annual fees, more investors will be able to benefit from their stock picking ability.”
The portfolio exposure consists of long-only positions, is weighted by market capitalisation and is rebalanced weekly.
Deutsche Bank has over 80 analysts covering over 650 European stocks. Each analyst will typically cover up to 10 stocks but will nominate one to three high-conviction ideas per year for inclusion in the fund. Potential for earnings upgrades, competitor news flow that has been misinterpreted by the market, and changes at management levels are examples of areas the analysts examine for potential investment signals.
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