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HERAUSGEGEBEN VON WERNER D'INKA, BERTHOLD KOHLER, GÜNTHER NONNENMACHER, HOLGER STELTZNER

Magna Turkey Fund A IE00B04R3968

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25.08.2014
00:00 Uhr

Aktueller Kurs

22,51 €
Veränderung zum Vortag
  +0,73 €
Veränderung in Prozent
+3,37 %
Chart Magna Turkey Fund A 1 Jahr Details

Vortagesschlusskurs

21,77 €

Eröffnungskurs

22,51 €

Tageshoch

22,51 €

Tagestief

22,51 €

  Experten-Chart

Kurs
im 52-Wochen-Vergleich

21,77 €   Skala 16,21 €
52 W Tief
23,97 €
52 W Hoch

5-Jahresperformance
im Vergleich zum Sektor Aktienfonds All Cap

Fondsvolumen

7,0 Mio.

Gesamtkostenquote (TER)

k.A.

Weitere Kennzahlen zu Magna Turkey Fund A

Volumen heute k.A.
Ø Tagesvolumen letztes Jahr k.A.

Anlagestrategie des Fonds

Zur Erzielung von Kapitalwachstum investiert der Fonds vorwiegend in ein diversifiziertes Aktien-Portfolio von Unternehmen aus der Türkei. Der Fonds kann bis zu 20 Prozent seines Vermögens in Schuldtiteln und anderen festverzinslichen Obligationen von Unternehmen aus der Türkei anlegen.

Fondsmanagement-Kommentar

The Borsa Istanbul rallied strongly for a third consecutive month in May, underpinned by a downwards move in market interest rates, with the banks particular beneficiaries. Increasing expectations of a rate cut by the Central Bank of Turkey saw the Turkish yield curve revert to an upwards slope despite ongoing pressure on inflation from last year s fall in the lira. This was driven by increasing risk appetite and low volatility, together with pressure from the government for lower rates. The central bank duly delivered on expectations, lowering its key policy rate by 50 basis points, while at the same time assuring the market that further cuts are only likely as the inflation dynamics improve. This has eased the cost of funding pressure on banks and has led to improved earnings expectations for the sector and upgrades from the street. This created an environment conducive for banking shares to perform well, outperforming the broader market which was also supported by stronger than expected first quarter results. Against this backdrop Isbank was the strongest performer over the month as its shares rose 21%. Unsurprisingly, four of the top five performers in the portfolio were banks. On the political front, indications from senior party figures suggest that the prime minister, Recep Tayyip Erdogan has decided to run in the upcoming presidential elections, although his candidacy remains unannounced. Recent polls suggest that Erdogan may well secure the presidency after the first election round. Although there is an element of uncertainty as to who would then lead the party, expectations are that he will continue to have a strong influence. As such, political developments should remain supportive of policy continuity and ultimately market friendly. Changes to the portfolio during the month included an increased exposure to steel group Kardemir and glass manufacturer Trakya Cam amongst non-financials, driven by a strong conviction on their individual structural growth stories. Within the financials sector exposure to Isbank and Halkbank was increased at the expense of VakifBank, capitalizing on their better positioning in the current macroeconomic environment and more favourable valuations with respect to their peers.

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Stammdaten

Name Magna Turkey Fund A
Gattung Fonds
ISIN IE00B04R3968
WKN A0DN7J
Fondstyp Aktienfonds
Fondssektor Aktienfonds All Cap
Ertragsverwendung thesaurierend
Ausgabeaufschlag 5,00 %
Verwaltungsvergütung 1,75 %
Performance-Fee Ja
Fondsvolumen 7,0 Mio. €
Land / Region k.A.
Emittent Magna Umbrella Fund plc
Fondsmanagement Herr Stefan Herz
Morningstar Rating k.A.

Finanztermine

Datum Veranstaltung

15.12.04 Auflagedatum

31.12.13 Geschäftsjahresende

28.08.2014
00:00 Uhr
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