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With the objectives of achieving low volatility in the fund price and avoiding unnecessary risks, Ethna-DEFENSIV is aimed at investors who want to focus on stability and capital preservation as well as additionally benefit from the trends and developments in the global bond markets.

With an active management approach that takes both the current market situation and future developments into account, the fund’s focus is on bonds from issuers in OECD countries. This broad investment universe allows the fund to flexibly select the most appropriate opportunities available. The Ethna-DEFENSIV has a balanced investment strategy that values diversification and liquidity.

This, together with its active management of upcoming challenges, helps the fund achieve its target volatility of less than 4%. The income from its high-quality bond portfolio is designed to form a stable and predictable source of returns. Additional returns can also be generated by adding equity exposure (to a maximum of 10%), active duration management and other admixtures like currencies and higher-yielding bonds.

All data as of 9/16/2019.

The Ethna-AKTIV is an actively managed global multi-asset strategy with a moderate risk profile. With the objectives of securing capital and creating long-term value, the fund is aimed at investors for whom the stability, value retention, and liquidity of the fund assets are important and who wish to achieve an appropriate increase in value.

The Ethna-AKTIV fund offers investors risk-controlled access to global macroeconomic developments on the fixed income, equity, and currency markets irrespective of benchmarks. Its goal is to earn positive performance through the investment horizon with limited drawdowns.

With an active management approach that takes both the current situation and future developments into account, the Ethna-AKTIV uses rigorous fundamental analysis to make its allocation decisions. Market risks, such as interest rates, credit spreads, and equity beta are controlled via liquid derivatives. The fund’s net equity allocation can vary from 0% to 49%, and is invested predominately through liquid futures and listed options, although liquid ETFs are sometimes used for specific investment themes. These measures avoid unnecessary risks and achieve low volatility.

All data as of 9/16/2019.

The Ethna-DYNAMISCH is an actively managed asset allocation fund offering risk-controlled access to global equity markets. It is aimed at investors who want to invest their capital over the medium to long term and who consciously accept the increased fluctuations in value on the international stock markets in favour of a higher earnings potential, with the aim of maintaining capital over the long term and achieving attractive returns.

With an active management approach that takes both the current situation and future developments into account, the objective of the Ethna-DYNAMISCH is to earn similar long-term returns to the equity markets but with lesser risks and drawdowns. Potential risks are managed mainly via active asset allocation and put options.

The net equity allocation of the Ethna-DYNAMISCH can vary between 0% and 100%. The fund also uses a value-based approach to stock picking in order to generate alpha. The volatility of the fund should not exceed 10%.

All data as of 9/16/2019.

The Ethna SICAV – DEFENSIV (A) follows an investment policy that aims to reflect the performance of the Ethna-DEFENSIV (A).

The Ethna SICAV – AKTIV (A) follows an investment policy that aims to reflect the performance of the Ethna-AKTIV (A).

The Ethna SICAV – DYNAMISCH (A) follows an investment policy that aims to reflect the performance of the Ethna-DYNAMISCH (A).

All data as of 9/16/2019.

Legal notices: An investment in investment funds, as with all securities and comparable financial assets, carries the risk of capital or currency losses. Consequently, the unit price and the yield are variable and cannot be guaranteed. The costs of a fund investment have an effect on the actual profit. No guarantee can be given that the investment objectives will be achieved. The statutory sales documents (Key Investor Information Document, sales prospectuses and reports) provide detailed information on potential risks and form the sole legal basis for a purchase of units. These documents can be obtained free of charge from the management company, ETHENEA Independent Investors S.A., the custodian bank, as well as the relevant national paying and information agents. All information published here constitutes a product description only. It does not constitute investment advice, an offer to enter into an agreement for the provision of advice or information, or an offer to buy or sell securities. The contents have been carefully researched, compiled and checked. No guarantee can be given for correctness, completeness or accuracy. The information includes past data which are no indicator of future performance. The management fee, custodian bank fee and all other additional costs are taken into account in the calculation of the unit price as stated in the provisions of the contract. Performance is calculated using the BVI method (German federal association for investment and asset management), which means that the calculations do not include an issuing charge, transaction costs (such as order fees and brokerage fees), custodian bank fees, or other management fees. Including the issuing surcharge would reduce performance. The performance shown is not a reliable indicator of future performance.