Produktinformationsblatt Englisch - FPM-AG
Produktinformationsblatt Englisch - FPM-AG
Produktinformationsblatt Englisch - FPM-AG
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Fund portrait<br />
as of: August 31, 2011<br />
<strong>FPM</strong> Funds Stockpicker Germany Small/Mid Cap ISIN: LU0207947044<br />
Equity Funds Germany<br />
Investment Policy<br />
The <strong>FPM</strong> Funds Stockpicker Germany Small/Mid Cap invests primarily in German equities. The objective of the investment<br />
policy of the sub-fund <strong>FPM</strong> Funds Stockpicker Germany Small/Mid Cap is to gain the greatest possible return on investments<br />
in Euro. The subfund's assets are primarily invested in shares, share certificates, convertible bonds, convertible debentures<br />
and warrant-linked bonds, participation and dividend-right certificates, warrants for securities, as well as in variable and fixed<br />
interest securities of issuers with their registered office in the Federal Republic of Germany. In addition, the subfund’s assets<br />
may be invested in all other permissible assets.<br />
General Fund Information<br />
Fund category: Equity funds Germany<br />
Investment company: <strong>FPM</strong> Funds SICAV / Luxembourg<br />
Management company: DWS Investment S.A., Luxembourg<br />
Custodian bank: State Street Bank Luxembourg<br />
Fund managers: Martin Wirth and Manfred Piontke<br />
Fund currency: Euro<br />
Launch date:<br />
Distribution policy: retaining<br />
End of fiscal year: December 31<br />
Fund volume in million Euro: 24,33<br />
Suitable for savings plans: Yes<br />
Suitable for capital-building payment: Yes<br />
Permitted to trade in: Germany, Austria, Spain, Luxembourg<br />
DWS risk category: 4<br />
Ratings & Awards:<br />
Morningstar Rating 1 December 20, 2004<br />
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Fund prices Conditions<br />
Redemption price: 141,49 € Max. front-end load: 4,00%<br />
Issue price: 147,15 € Management fee: 1.25% p.a.<br />
Performance fee: success-related fee of 15%, provided that the<br />
52-week high*: 172,53 €<br />
performance of the shares exceeds 4% per half-<br />
52-week low*: 129,49 €<br />
year<br />
*redemption price TER (fiscal year 2010): 3<br />
Performance<br />
200 200 € €<br />
170 €<br />
170 €<br />
140 €<br />
140 €<br />
110 €<br />
110 80 € €<br />
50 €<br />
80 €<br />
50 €<br />
Jul-06<br />
Mai. 05<br />
Oct-06<br />
Aug. 05<br />
Past 5 years<br />
Feb-07<br />
Dez. 05<br />
May-07<br />
Mrz. 06<br />
Sep-07<br />
Jul. 06<br />
Okt. 06<br />
Jan-08<br />
Feb. 07<br />
Apr-08<br />
Jun. 07<br />
Aug-08<br />
past 5 years<br />
Sep. 07<br />
Dec-08<br />
Jan. 08<br />
Mar-09<br />
Mai. 08<br />
Jul-09<br />
Aug. 08<br />
Nov-09<br />
Dez. 08<br />
Feb-10<br />
Apr. 09<br />
Jun-10<br />
Jul. 09<br />
Sep-10<br />
Nov. 09<br />
Jan-11<br />
Mrz. 10<br />
May-11<br />
Aug-11<br />
200 € €<br />
170 €<br />
170 €<br />
140 €<br />
140 €<br />
110 €<br />
110 80 €<br />
50 €<br />
80 €<br />
50 €<br />
1.30% p.a.<br />
Since inception since inception<br />
(20 December 2004) (20 December 2004)<br />
Investment level<br />
Time period: 1 m 3 m 6 m 1 year 3 years 5 years since inception<br />
Performance: 4<br />
-14,17% -15,53% -9,46% 9,98% 18,61% 2,86% 41,49%<br />
Please note the footnotes on page 4. Page 1 of 4 <strong>FPM</strong> Funds Stockpicker Germany Small/Mid Cap<br />
Dez. 04<br />
Dec-04<br />
Apr. 05<br />
Apr-05<br />
Aug-05<br />
Aug. 05<br />
Dec-05<br />
Dez. 05<br />
Mar-06<br />
Mrz. 06<br />
Jul-06<br />
Jul. 06<br />
Nov-06<br />
Nov. 06<br />
Mar-07<br />
Mrz. 07<br />
Jul-07<br />
Jul. 07<br />
Nov-07<br />
Mar-08<br />
Nov. 07<br />
Jul-08<br />
Mrz. 08<br />
Oct-08<br />
Jul. 08<br />
Feb-09<br />
Okt. 08<br />
Jun-09<br />
Feb. 09<br />
Oct-09<br />
Jun. 09<br />
Feb-10<br />
Okt. 09<br />
Jun-10<br />
Feb. 10<br />
Oct-10<br />
Feb-11<br />
May-11
Fund portrait<br />
as of: August 31, 2011<br />
Performance in recent 12-month-periods 5<br />
31.08.2010 - 31.08.2011 9,98%<br />
31.08.2009 - 31.08.2010 18,33%<br />
31.08.2008 - 31.08.2009 -8,86%<br />
31.08.2007 - 31.08.2008 -26,78%<br />
31.08.2006 - 31.08.2007 18,43%<br />
Risk Assessment<br />
max. profit 6<br />
max. loss 6<br />
volatility 7<br />
sharpe ratio 8<br />
1 year 75,97% -52,11% 17,76% 0,50<br />
3 years 43,50% -52,74% 24,55% 0,18<br />
Fund Manager Analysis<br />
After the loss of investor confidence in government bonds and heightened by the looming economic slump, August turned out<br />
to be one of the worst months in decades for the German stock market. Due to the popularity enjoyed by German stocks in the<br />
last few quarters, in some cases the losses were greater than in the crisis countries, presumably intensified by the ban on<br />
short selling in some European markets, which was then redirected to German stocks. The valuation of the stocks anticipates<br />
a recession with a weak recovery, although not a depression or collapse of the system, which is still also true for government<br />
bonds. While we are more optimistic, we do expect to see a longer phase of high volatility and are consequently maintaining<br />
relatively high liquidity in the <strong>FPM</strong> Funds. The degree of investment of the TOP 25 S was between 0% and 35% in August.<br />
Portfolio Structure<br />
Communications<br />
Consumer, Cyclicals<br />
Consumer, Noncyclicals<br />
Investment level*<br />
Top 10 Holdings<br />
87,98 previous month* 81,42<br />
Security current previous<br />
weighting * month *<br />
Sartorius Pref. 7,65 6,13<br />
STO Pref. 7,04 7,23<br />
Takkt 5,27 5,04<br />
Sixt Pref. 4,69 3,50<br />
Grenkeleasing 3,98 3,56<br />
Nexus 3,79 2,60<br />
Software 3,71 3,71<br />
Analytik Jena 3,70 2,56<br />
Freenet 3,57 2,38<br />
Digital Identification Solutions 3,49 3,28<br />
* in % of the fund's assets<br />
Current current month<br />
Energies 0,00%<br />
Financials<br />
Industrials<br />
Technologies<br />
6,97%<br />
11,22%<br />
15,01%<br />
14,60%<br />
12,47%<br />
39,73%<br />
Communications<br />
Consumer, Cyclicals<br />
Consumer, Noncyclicals<br />
Energies<br />
Financials<br />
Industrials<br />
Technologies<br />
Previous previous month<br />
Please note the footnotes on page 4. Page 2 of 4 <strong>FPM</strong> Funds Stockpicker Germany Small/Mid Cap<br />
0,52%<br />
5,38%<br />
15,79%<br />
12,79%<br />
10,54%<br />
12,07%<br />
42,92%
Fund portrait<br />
as of: August 31, 2011<br />
Investment Philosophy<br />
"Advancement through knowledge" - this is what lies at the heart of our investment philosophy. We acquire this knowledge<br />
through intensive, personal management meetings with the companies in which we invest. This approach makes us unique in<br />
the market and forms the basis of our success. The investment philosophy of <strong>FPM</strong> <strong>AG</strong> is based on three cornerstones: We<br />
primarily invest in stocks of German companies with high potential that we have identified as undervalued. Companies are<br />
selected on the basis of our own methodical and fundamental analysis (primary research). Our assessment of companies is<br />
based on regular, face-to-face discussions between management and our fund managers.<br />
The systematic implementation of our investment philosophy offers our investors a large number of advantages. Regular<br />
management meetings allow us to acquire high quality information and gain valuable insights into the market and competitors.<br />
Our analysis are not concerned with short-term trends; instead they focus on identifying high-quality companies before they<br />
come to the market's attention. The performance of companies that have good fundamental prospects but are undervalued on<br />
the market can increase considerably.<br />
<strong>FPM</strong> FUNDS Stockpicker Germany Small/Mid Cap IS WELL SUITED<br />
- for medium- to long-term investment<br />
- for targeted and regular asset growth<br />
- for investment in capital-building payment schemes<br />
Chances<br />
- Price increases on the stock market related to the market, industry and company<br />
- Opportunity for above-average participation in performance through a valuation- and quality-oriented investment<br />
process and active stock picking<br />
Risks<br />
The prices of the assets contained in the fund determine fund price. They are subject to daily fluctuations and may also fall.<br />
Market risk:IThe performance of financial products depends on the performance of the capital markets, which in turn are<br />
affected by real framework conditions as well as irrational factoes (sentiment, opinions and rumors).<br />
Default risk:IThe counterparties' partial or non-ability to fulfill their contractual payment obligations may result in losses for the<br />
investment fund. The risk of a decline in the assets of issuers cannot be eliminated even by the most careful selection of the<br />
securities.<br />
Currency risk:IThe value of assets invested in currencies other than the respective sub-fund currency is subject to fluctuation.<br />
Concentration risk:IBy a concentration of investments in particular markets or assets, the investment fund becomes<br />
particularly dependent on these few markets and assets.<br />
Increased volatility: Due to its permitted investment universe and its compositions as well as the use of derivative<br />
instruments, the investment fund is subject to markedly increased volatility.<br />
Risks in connection with derivative transactions, in particular options:IPrice changes in the underlying instrument can<br />
devalue an option. Options have a leverage effect that influences the investment fund markedly more than the underlying<br />
instrument. Selling options bears the risk that the investment fund experiences a loss of an indefinite amount.<br />
The unit price may at any time be lower than the purchase price at which the customer acquired the unit. I<br />
The full sales prospectus contains a detailed description of the risks involved.<br />
Please note the footnotes on page 4. Page 3 of 4 <strong>FPM</strong> Funds Stockpicker Germany Small/Mid Cap
Fund portrait<br />
as of: August 31, 2011<br />
Disclaimer<br />
The information contained in this document does not constitute investment advice and is merely a brief summary of key<br />
aspects of the funds. Full details of the funds can be found in the key investor information document and the sales prospectus,<br />
supplemented in each case by the most recent audited annual report and the most recent half-year report, if this report is more<br />
recent than the most recently available annual report. These documents constitute the sole binding basis for the purchase of<br />
fund units. They are available free of charge in either electronic or printed form from <strong>FPM</strong> Frankfurt Performance Management<br />
<strong>AG</strong> (<strong>FPM</strong> <strong>AG</strong>), Freiherr-vom-Stein-Str. 11, 60323 Frankfurt am Main, from DWS Investment GmbH, Mainzer Landstraße 178 –<br />
190, D- 60327 Frankfurt am Main or from DWS Investment S. A., 2, Boulevard Konrad Adenauer, L-1115 Luxemburg. The<br />
sales prospectus contains detailed information on the risks involved.<br />
All opinions given in this product information reflect the current assessment of <strong>FPM</strong> Frankfurt Performance Management <strong>AG</strong><br />
which may change without notice. In cases where information contained in this document derives from third parties, <strong>FPM</strong> <strong>AG</strong><br />
accepts no liability for the accuracy, completeness or appropriateness of such information, also <strong>FPM</strong> <strong>AG</strong> only uses data that it<br />
deems to be reliable. Calculation of performance is based on the time-weighted return (BVI method) and excludes initial<br />
charges. Individual costs such as fees, commissions and other charges have not been included in this presentation and would<br />
have an adverse impact on returns if they were included. Past performance is not a reliable indicator of future returns. Further<br />
information on taxation can be found in the sales prospectus.<br />
The units issued by DWS Investment S. A. under these funds may only be offered for purchase or sold in jurisdictions in which<br />
such offer or sale is permitted. The units in these funds are not allowed to be offered for purchase or sold either in the US or to<br />
or for the account of US citizens or US persons domiciled in the US. This document and the information contained therein<br />
must not be distributed in the US. The distribution and publication of this document as well as the offering or sale of the fund’s<br />
units may be subject to restrictions in other jurisdictions as well.<br />
<strong>FPM</strong> Frankfurt Performance Management <strong>AG</strong> | Freiherr-vom-Stein-Straße 11 | D-60323 Frankfurt, Germany<br />
Telephone: + 49 69 79 58 86 - 0 | Fax: + 49 69 79 58 86 - 14<br />
E-mail: fpm-funds@fpm-ag.de | Internet: www.fpm-ag.de | www.fpm-deutsche-investmentaktiengesellschaft.de<br />
1 Rating of 31.02.2010; more information at www.morningstar.de.<br />
2 Rating of 31.01.2010; more information at www.feri.de<br />
3 Total expense in per cent of the average fund volume of the fiscal year closed on 31 December. In accordance with the respective national practice,<br />
this ratio only includes the expenses incurred for the investment fund (without transaction costs).<br />
4 Calculated on the basis of time-weighted return (BVI method). Front-end load was excluded. Past performance is not a reliable indicator of future<br />
returns.<br />
5 The future trend indicator relates to each 12-month period indicated. On those days which fall on weekends or national holidays, the price from the<br />
previous day or the last available price is used, as no stock quotations are made on such days.<br />
6 Maximum historical loss/profit that would have been possible with an investment period of one/three year(s) since inception of the fund.<br />
7 Volatility in % is calculated on the basis of weekly (up to 3 years) or monthly data (from 3 years). (Source: Deutsche Performancemessungs-<br />
Gesellschaft für Wertpapierportfolios mbH (short: DPG))<br />
8 The risk-free interest rate depends on the three-month interest rate. A negative sharpe ratio has no significance. (Source: Deutsche<br />
Performancemessungs-Gesellschaft für Wertpapierportfolios mbH (short: DPG))<br />
Please note the footnotes on page 4. Page 4 of 4 <strong>FPM</strong> Funds Stockpicker Germany Small/Mid Cap