DWS FlexPension II 2028

ISIN: LU0891000035Koers per datum: 11-11-2019Uitgiftekoers: n/a
 Valuta: EURVerkoopkoers: 152,48

Andreas Engesser


Fondsbeheerder sinds: 1-7-2013
Beheer locatie: Duitsland


Huidige opmerking

*Due to the capital market environment with extremely low and in some cases negative interest rates, it will be nearly impossible to increase the value of the sub-fund beyond the guarantee level in the future. For this reason, the Board of Directors of DWS FlexPension SICAV has decided to liquidate the DWS FlexPension II 2028 sub-fund early on November 12, 2019 at the guarantee value.

Vorige opmerkingen

  • 07/2019: The ongoing US-China trade dispute as well as geopolitical uncertainties affected the manufacturing sector in particular during the month, which was reflected in weaker economic indicators. Although the majority of the equity markets were still trending upward, they were weaker than in the previous month. In order to counter the economic slowdown and deflationary developments, the US Federal Reserve lowered its key interest rates by 25 bp, while the ECB announced that it would launch a new bond buy-back program. Yields on German government bonds remain at a very low level. Due to the current low interest rate environment, the Fund is invested exclusively in money market investments.

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  • 06/2019: The global equity markets recorded a very positive performance in June. One reason for this was improved economic indicators, particularly in the US and China. Although the German business climate index fell to its lowest level since November 2014, the European equity markets also recorded significant gains. In addition, there is hope on the markets for a continued loose monetary policy in Europe and a loosening of the US Federal Reserve’s monetary policy. Yields on German government bonds fell to a record low during the month. Due to the current low interest rate environment, the Fund is invested exclusively in money market investments.

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  • 05/2019: Despite basically positive fundamental data, the equity markets as a whole declined in May. The main reason for this negative development was the recent intensification of the trade conflict between the US and China and the associated dangers for the generally expected global growth. Due to these uncertainties, a continuation of the loose monetary policy can generally be expected. The yield on German government bonds continued to fall sharply in May. Due to the current low interest-rate environment, the Fund’s performance is therefore mainly dependent on the performance of EUR-denominated bonds with matching maturities.

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  • 04/2019: In April, the equity markets continued their recovery as macroeconomic fundamentals stabilized. The US economy grew by 3.2% in the first quarter, while fiscal and monetary policy measures appeared to be having an effect in China. The major central banks continued to be hesitant: the US Federal Reserve announced that it would be "patient" in its monetary policy decisions, the ECB will provide new longer-term refinancing operations to support the banks from September and plans to postpone the interest rate hike planned for the second half of the year until at least beyond the end of 2019. Demand for European government bonds with longer maturities remained high. Below is an overview of selected indices: MSCI World Index (USD): 3.4%, MSCI World Index (EUR): 3.4%, EuroStoxx 50 Index: 5.3%, S&P 500 Index (USD): 3.9%, Nikkei 225 Index (JPY): 5%, Bloomberg Commodity TR Index (EUR): -0.4%. The current yield on 9-10 year German government bonds rose from -0.1% to 0%. At the end of the month, the weighting of risky investments stood at about 7%. The Fund’s performance is therefore mainly dependent on the performance of EUR-denominated bonds with matching maturities.

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  • 03/2019: In March, most of the world’s equity indices recorded gains, although the economic outlook deteriorated in many places and growth forecasts were revised downwards. The reasons for this included statements by various central banks to the effect that a further tightening of monetary policy was less likely. In particular, the ECB sent signals that it intends to stick to its expansionary monetary policy and that it has also decided not to raise the key interest rate until the end of 2019. This in turn had an impact on the global bond markets, with the yield on German government bonds, for example, falling over the course of the month. Below is an overview of selected indices: MSCI World Index (USD): 1%, MSCI World Index (EUR): 2.5%, EuroStoxx 50 Index: 1.8%, S&P 500 Index (USD): 1.8%, Nikkei 225 Index (JPY): -0.8%, Bloomberg Commodity TR Index (EUR): 1.3%. The current yield on 9-10 year German government bonds fell from 0.1% to -0.1%. The weighting of risky investments stood at around 6% at the end of the month. The Fund’s performance is therefore mainly dependent on the performance of EUR-denominated bonds with matching maturities.

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