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ISIN: DE000A0RFJ25
|
WKN: A0RFJ2
as at:

Investor's risk profile

Issue price

Redemption price

Change to previous day

Recommended holding period

Summary risk indicator
(SRI)

Morningstar overall rating™1

Scope rating1

Distribution type

funds with sustainability characteristics

What does sustainability mean for the MEAG FairReturn?

The MEAG FairReturn is classified as a product with environmental or social features (Article 8 product) in accordance with the EU Sustainable Finance Disclosure Regulation (SFDR). To achieve sustainability-related characteristics, we pay particular attention to the following ESG issues for companies and/or countries as issuers of equities and bonds:

Environment

  • Environmental protection
  • Efficient handling of resources
  • Reduction of greenhouse gas emissions
  • Zero tolerance for banned and nuclear weapons
  • No genetic engineering*

Social

  • Equal rights
  • Respect for human and labour rights
  • No outlawed atomic or conventional* weapons
  • Exclusion of alcohol*, gambling*, tobacco and pornography*

Governance

  • Fighting corruption
  • Transparency and active dialogue with the companies

For more information on the Fund's sustainability strategy, the mandatory environmental and social features and a list of all exclusion criteria, please see:  Link (sustainable disclosure pursuant to Art. 10 EU Sustainable Finance Disclosure Regulation (SFDR))

* Turnover tolerance 5% each

Fund report
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Investment strategy

The Fund's objective is to provide a consistent positive return and attractive capital growth over the medium term, taking account of environmental and social criteria. Investments are made primarily in high- quality European bonds. The equity allocation is generally between 10 and 25 percent. Particular attention is paid to risk management in order to reduce volatility and increase the stability of the fund.

This fund may be suitable for you if you…

This fund may be suitable for you if you…

  • seek a conservative access to the stock market
  • are looking for solid earnings opportunities in a risk- controlled manner with relatively low volatility and risk
  • want to invest in a forward- looking way, taking into account environmental and social criteria
  • want sustainability to be considered when you invest
  • wish to invest your capital over the medium term

Sustainability strategy

  • Preferential selection of securities (equities and bonds) from issuers who achieve their economic success with respect for the environment and society and who adhere to the principles of good corporate governance 
  • Has mandatory environmental and social characteristics (Art. 8 Product according to the EU Sustainable Finance Disclosure Regulation (SFDR))
  • Based on ESG criteria: Selection of exhibitors that are rated better than their competitors within their industry
  • Exclusion of companies and countries that are active in certain controversial business areas or that violate established, recognized standards. Exclusion criteria may include turnover thresholds.
  • Consideration of the principle adverse impacts of investment decisions on sustainability factors (PAI)
  • Minimum share of 5% in sustainable investments in accordance with the EU Sustainable Finance Disclosure Regulation (SFDR)
  • Sustainability analysis using the MSCI ESG Research and ISS ESG databases
     
Sustainability- related disclosure

Opportunities

  • Bonds: income from current interest payments; market- driven price appreciation if interest rates fall or the quality of individual issuers improves
  • Equities: long- term income opportunities from price increases and dividends
  • Consideration of sustainability criteria in investment policy
  • Additional income opportunities through flexible management of equity allocation 
  • Foreign exchange gains from investments in foreign currencies

Risks

  • Bonds: Market- related price losses in the event of rising interest rates or deterioration in the quality of individual issuers.
  • Equities: losses due to market- related price fluctuations and company- specific risks 
  • Reduced stock selection due to focus on sustainability
  • Currency losses on investments in foreign currencies

Performance of past 12 month periods (month end)

Status:

Past performance is not indicative of future returns.

Extended investment limits

Securities and money market instruments of the following issuers may exceed 35% of the fund assets; please refer to the sales prospectus for details.

Performance of past 12 month periods (month end)

Status:

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What if?

Performance in the period of an investment of EUR in .

Investment period

Gross value development excluding a front-end load in the selected period. Past performance information is not a reliable indicator of future performance.

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Average performance (gross) p.a.: 

Performance in the last 12-month periods

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Performance (gross)

Period Cumulated p.a.
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Maximum Upswing & Maximum Drawdown

High-low chart

Last Update:

Maximum loss: This ratio measures the maximum loss of an investment over a given period (e.g. 1 year) as a percentage based on daily closing prices. It shows the maximum possible relative loss, taking into account distributions, that an investor would have suffered if he had bought at the highest unit price and sold at the lowest within a given period. Calculation: maximum loss = (lowest unit price × 100 / highest unit price (time before the low point)) - 100. The maximum gain, taking into account distributions, is calculated in the same way (highest unit price × 100 / lowest unit price (time before high) - 100).

Information on performance

The gross performance (BVI method) takes into account all costs incurred at fund level (such as management fees). The net performance also takes into account the issuance fee, which reduces the performance. For an investment amount of 1,000 euros, the investor incurs a one-time issuance fee of 3.0% (= 29.13 euros) upon issuance. Since the issuance fee is only charged in the first year, the gross/net performances only differ in this year. The investor may incur additional securities account fees that reduce the performance. Past performance is not a reliable indicator of future performance. Source: MEAG.

Note: On days that fall on a public holiday or a weekend, the price of the previous day or the last available price is used, as it is not possible to determine a price on these days.

Fund key figures

Average yield: %avIntRate%%
Average return: %avRoR%%
Average remaining term (in years): %avResidTerm%
Volatility³ p.a. (3 years): %3yVOL%%

as at: %Datefrom%

Master data

Fund name MEAG FairReturn
Fund type European mixed fund
Investor type  Defensive
Unit class  A
ISIN DE000A0RFJ25
Date of issue / formation of the unit class 15.03.2010
Investment term  at least 4 years
SFDR category  Art. 8

Further fund data

Fund currency Euro
Fiscal year-end 30.09.
Fund manager Stefan Amenda
Benchmark index 20% IBOXX EUR CORP ALL MATS TR; 25% IBOXX EUR COVERED 01-10Y TR; 25% IBOXX EUR SOVEREIGN EZONE 01-10Y TR; 10% JPM EU EMBI GLB DIVS COMPOSITE; 20% MSCI World ESG Leaders Net Return EUR Index
Use of profits  Distributed
Profit distribution date December
Partial tax exemption  -
Custodian  BNP Paribas S.A., Niederlassung Deutschland
SRI 2
Savings plan suitable yes
Suitable for employee capital formation no
Swing pricing no
Guarantee no
Term unlimited
Sales authorisation Germany, Austria

Costs and fees

Current issuance fee 3,0%
Ongoing costs 0,94% (business year 2022/2023)
Current management fee p.a.  0,90%
Performance bonus  nein

Target market data

Product category Retail fund (UCITS)
Sales channel Execution only | No consultancy required | Investment advisory services
Customer category Private customer | Professional customer | Suitable counterparty
Know-how and/or experience Suitable for investors with basic knowledge and/or experience of securities
Capacity to bear financial losses Investor can bear losses (no capital protection)
Risk assessment (SRI) 2
Investment target General capital accumulation/optimisation
Investment horizon Medium term (3 - 5 years)
Special requirements Sustainability

ESG Target market data

Classification according to the Disclosure Regulation Product according to Art. 8
Sustainability focus No ESG focus
Minimum share of sustainable investments pursuant to the Disclosure Regulation (Art. 2 No. 7 lit. b MiFID II delegated regulation) 5%
Minimum share of ecologically sustainable investments according to the Taxonomy Ordinance (Art. 2 No. 7 lit. a) MiFID II delegated regulation) 0%
Consideration of the most important negative effects (Art. 2 No. 7 lit. c) MiFID II delegated regulation) Company: Greenhouse gas emissions (Scope 1,2,3, total) | CO2 footprint | GHG intensity of invested companies | Exposure to fossil fuel companies | Proportion of consumption and production of non-renewable energy | Intensity of energy consumption and production of non-renewable energy | Activities that negatively impact biodiversity-sensitive areas | Water pollution | Percentage of hazardous waste | Violation of principles of the UN Global Compact Principles and OECD Guidelines for Multinational Enterprises | Lack of procedures and mechanisms to monitor compliance with the principles of the UN Global Compact and the OECD Guidelines for Multinational Enterprises | Unadjusted gender pay gap | Gender diversity on boards | Commitment regarding controversial weapons (anti-personnel mines, cluster munitions, chemical weapons and biological weapons) States: Greenhouse gas intensity | Investment countries where social violations occur

Sustainability strategy of MEAG FairReturn

 

The fund prefers to invest in securities (equities and bonds) of issuers that achieve their economic success with respect for the environment and society and adhere to the principles of good corporate governance.

The environmental and/or social characteristics promoted by the Fund include the following

  • Exclusion of companies and countries in accordance with the Fund's exclusion policy
  • Focus on issuers with good or very good ESG ratings (best-in-class approach)
  • Consideration of the impact of investment decisions on sustainability factors
  • A minimum proportion of sustainable investments in accordance with the EU Sustainable Finance Disclosure Regulation (SFDR).

These features are the mandatory elements of the Fund's sustainability strategy. Further information on the sustainability strategy of the Fund can be found here (section "Sustainability related information").

⛔ Exclusion criteria

Exclusion criteria have been defined for the fund in order to rule out from the outset companies and states that are active in certain controversial business areas or commit violations of recognised standards. 

Exclusion criteria for companies: 

  • Direct involvement in a very serious ESG-related controversy that is either ongoing or partially concluded ("red flag" and sub-segment "orange flag" according to MSCI ESG Research (hereinafter "MSCI")).
  • Companies with a sustainability rating of "CCC" and "B" according to MSCI ("ESG Laggards")
  • Alcohol (sales > 5 %)
  • Tobacco (0% tolerance on sales)
  • Pornography and pornographic entertainment services (sales > 5 %)
  • Gambling (sales > 5 %)
  • Genetic engineering (sales > 5 %)
  • Prohibited weapons, i.e. cluster bombs, landmines, biological and chemical weapons and incendiary weapons using white phosphorus (0% tolerance on sales)
  • Nuclear weapons  (0% tolerance on sales)
  • Nuclear power activities (sales > 5 %)
  • Uranium mining (sales > 5 %)
  • Conventional weapons, weapon systems, components and support systems and services (sales > 5 %)
  • Civilian firearms and ammunition (sales > 5 %)
  • Extraction of thermal coal (sales > 5 %)
  • Electricity generation from thermal coal (sales > 5 %)
  • Percentage of electricity generation from thermal coal (percentage max. 15%)
  • Developer of coal-fired power plants and/or infrastructure
  • Oil and gas extraction using unconventional methods (oil sands/fracking, sales > 0%)
  • Oil and gas extraction using conventional methods (sales > 20 %)
  • Serious violations of the ten principles of the UN Global Compact
     

Exclusion criteria for countries:

  • Countries with an MSCI sustainability rating of "CCC" and "B" (so-called "ESG laggards" according to the MSCI ESG Government Rating)
  • Non-free countries according to the Freedom House Index ("not free")
  • Not a signatory to the Paris Climate Agreement
  • Non-signatory to the UN Convention on Biological Diversity
  • High level of corruption (Corruption Perception Index below 35)
  • Not a signatory to the Nuclear Non-Proliferation Treaty
  • Defence budget exceeding 4% of GDP
  • Death penalty
  • Countries subject to European Union (EU) sanctions

🌱 Focus on issuers with good or very good ESG ratings (best-in-class approach)

Detailed sustainability ratings are used to filter out those exhibitors who perform comparatively well in their respective industries in terms of environmental and social aspects as well as the principles of good corporate governance (the so-called best-in-class approach).

📋 Principle Adverse Impacts (PAI)

The fund management takes into account the most important indicators of adverse impact for each investment decision. These are used to examine possible negative effects of an investment decision on important ESG issues. 

14 key indicators of adverse impacts have been defined for companies and two for countries. These cover the following areas1:

  • Greenhouse gas emissions,  
  • Biodiversity,  
  • Water,  
  • Waste and
  • Social issues / Employee concerns. 

As part of the consideration, the fund manager regularly and for each investment decision checks whether the company or the issuer of the security has a negative impact on important environmental, social or corporate governance issues. If this is the case, the fund manager either does not acquire the security or actively tries to influence the issuer or the company, depending on the severity of the negative impact. The aim is to reduce the negative impact of an investment on the environment and society.

Information on the main adverse impacts on sustainability factors is available in the fund's annual report.

1For more details see ESG Target market data Link

📗 Sustainability Disclosure

For more information please follow this link

1Awards
Past awards are not a reliable indicator of future performance and awards. Capital: The award refers to the fund company MEAG. Morningstar Overall Rating (TM) and Scope as at 31.10.2023. Data source - © Morningstar. Scope Analysis GmbH. All rights reserved. More at https://www.meag.com/de/investieren/privatkunden/unsere-ausgezeichneten.html.

2 Benchmark index:
Find out more about the composition of the benchmark index in the "Data" tab.

3 Volatility:
Data source – © Morningstar. All rights reserved. As at: 31.10.2023