Danske Invest Japanese Equity Fund D Basic equity funds
Da nske Invest Japanese Equit y Fund D Basic equit y funds
Risk class
Investment policy Fund
Low risk
High risk
Fund facts Value 31-03-2011 (EUR) 0.05718 ISIN FI0008802913 Distribution of income Yes Benchmark index Topix TR -index Web site www.danskeinvest.fi Launch 28-10-1999 Total assets , million (EUR) 68.17 Base currency EUR Minimum subscription 500 EUR
Subscription fee Redemption fee Management fee
Danske Invest Japanese Equity is intended for investors who are looking for an investment solution on the Japanese equity market that is profitable, professionally managed and well-diversified. The fund is well-suited, as a part of a diversified investment portfolio, to investors who can accept even substantial changes in the value of the fund from time to time. The recommended investment horizon in the fund is more than five years. The assets of the Danske Invest Japanese Equity are invested in a diversified manner mainly in publicly traded equities issued by companies listed in Japan. The general performance of the Japanese equity market is reflected in the value of the fund.
1,00 % / 8 EUR 1,00 % / 8 EUR 1.50 %
Performance 31-03-2011
Benchmark index Unofficial TOPIX (TR) Index
Portfolio manager Daiwa SB Investments (UK) Ltd
Major investments 31-03-2011 Issuer
Key f igures - 1 y 31-03-2011 Volatility (%) Sharpe Tracking error IR Alpha Beta Duration
14.028 0.98 6.19 -0.611 0.377 0.878 -
Toyota Motor Corp. Mitsubishi UFJ Financial Group Honda Motor Co. Ltd. Mitsubishi Corp. Tokio Marine Holdings Inc. Mitsui and Co Mitsubishi Electric Kawasaki Heavy Industries JX Holdings Inc Orix (JP) Other
%
4.65 % 4.37 % 3.15 % 3.02 % 2.48 % 2.22 % 2.09 % 2.07 % 1.99 % 1.89 % 72.05 %
Performance 31-03-2011 YTD 1 month 3 month 6 month 12 month 36 month Fund -10.39 -12.48 -10.39 2.23 -4.99 -1.66 Benchmark index -9.44 -10.90 -9.44 4.07 -2.05 3.59
Start -4.79 -3.09
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds simplified prospectus and regulations can be found from www.danskeinvest.fi
Da nske Invest Japanese Equit y Fund D Basic equit y funds
Sector allocation/asset allocation
Portfolio manager review
The TOPIX (including all TSE First Section stocks) surged in February, marking the 21.29% fourth consecutive month of gains. The nFinancials 15.71% months best performing sectors were nInformation technology Insurance, Other Finance Business and 9.87% Mining, while Air Transport, Maritime nMaterials 9.62% Transport and Wholesale Trade were among nHealth care 3.77% nTelecommunication services the worst performers. Insurers, most of which hold huge portfolios of Japanese 3.36% stocks, were expected to grow in value with nOther 12.78% the sharp appreciation of the Tokyo market. Non bank stocks also soared as market participants, with their renewed appetite for risk, poured back into the leveraged sector. Mining companies advanced along with the rally in crude oil prices, as concerns over a nStock market 95.12% supply shortage loomed on the back of turmoil nOther 4.88% in several oil-producing countries, such as Libya. On the other hand, losing sectors were (or were expected to be) badly affected by the geopolitical uncertainty; higher oil prices had a direct impact on fuel costs for air and marine carriers, while the fluid situation in North Africa and Middle East could potentially carry a negative impact on trading firms oil and gas field units. Major positive contributors for the month were Kawasaki Heavy Industries, Ltd. and Asahi Glass Co., Ltd. In Industrials and Orix Corp. in Financials, while Makita Corp. in Industrials, FujiFilm Holdings Corp. in Information Technology and Mitsubishi Corp. in Industrials contributed negatively. Our zero weighting of Softbank Corp. in Telecom Services and Sumitomo Mitsui Financial Group, Inc. in Financials nIndustrials 23.60% nConsumer discretionary
Holding type
carried a negative impact. Kawasaki Heavy Industries and Asahi Glass advanced following the announcement of earnings for the OctoberDecember period, as profits rose above the consensus estimates on the back of strong demand for their products. Orix advanced as the nonbank financing company not only posted strong earnings results but also forecast a continuation of its recovery in the next fiscal year. On the other hand, Makita, FujiFilm Holdings and Mitsubishi Corp. performed poorly in spite of resilient earnings, as a result of profit taking activity. (01.04.2011)
Return
Return and dividends for individual years
2006
2007
2008
2009
2010
Fund Benchmark index
-7.97 -8.54
-17.18 -15.61
-24.93 -23.32
3.38 4.30
21.14 24.09
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds
Risk class
Investment policy Fund
Low risk
High risk
Fund facts Value 31-03-2011 (EUR) 0.05718 ISIN FI0008802913 Distribution of income Yes Benchmark index Topix TR -index Web site www.danskeinvest.fi Launch 28-10-1999 Total assets , million (EUR) 68.17 Base currency EUR Minimum subscription 500 EUR
Subscription fee Redemption fee Management fee
Danske Invest Japanese Equity is intended for investors who are looking for an investment solution on the Japanese equity market that is profitable, professionally managed and well-diversified. The fund is well-suited, as a part of a diversified investment portfolio, to investors who can accept even substantial changes in the value of the fund from time to time. The recommended investment horizon in the fund is more than five years. The assets of the Danske Invest Japanese Equity are invested in a diversified manner mainly in publicly traded equities issued by companies listed in Japan. The general performance of the Japanese equity market is reflected in the value of the fund.
1,00 % / 8 EUR 1,00 % / 8 EUR 1.50 %
Performance 31-03-2011
Benchmark index Unofficial TOPIX (TR) Index
Portfolio manager Daiwa SB Investments (UK) Ltd
Major investments 31-03-2011 Issuer
Key f igures - 1 y 31-03-2011 Volatility (%) Sharpe Tracking error IR Alpha Beta Duration
14.028 0.98 6.19 -0.611 0.377 0.878 -
Toyota Motor Corp. Mitsubishi UFJ Financial Group Honda Motor Co. Ltd. Mitsubishi Corp. Tokio Marine Holdings Inc. Mitsui and Co Mitsubishi Electric Kawasaki Heavy Industries JX Holdings Inc Orix (JP) Other
%
4.65 % 4.37 % 3.15 % 3.02 % 2.48 % 2.22 % 2.09 % 2.07 % 1.99 % 1.89 % 72.05 %
Performance 31-03-2011 YTD 1 month 3 month 6 month 12 month 36 month Fund -10.39 -12.48 -10.39 2.23 -4.99 -1.66 Benchmark index -9.44 -10.90 -9.44 4.07 -2.05 3.59
Start -4.79 -3.09
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds simplified prospectus and regulations can be found from www.danskeinvest.fi
Da nske Invest Japanese Equit y Fund D Basic equit y funds
Sector allocation/asset allocation
Portfolio manager review
The TOPIX (including all TSE First Section stocks) surged in February, marking the 21.29% fourth consecutive month of gains. The nFinancials 15.71% months best performing sectors were nInformation technology Insurance, Other Finance Business and 9.87% Mining, while Air Transport, Maritime nMaterials 9.62% Transport and Wholesale Trade were among nHealth care 3.77% nTelecommunication services the worst performers. Insurers, most of which hold huge portfolios of Japanese 3.36% stocks, were expected to grow in value with nOther 12.78% the sharp appreciation of the Tokyo market. Non bank stocks also soared as market participants, with their renewed appetite for risk, poured back into the leveraged sector. Mining companies advanced along with the rally in crude oil prices, as concerns over a nStock market 95.12% supply shortage loomed on the back of turmoil nOther 4.88% in several oil-producing countries, such as Libya. On the other hand, losing sectors were (or were expected to be) badly affected by the geopolitical uncertainty; higher oil prices had a direct impact on fuel costs for air and marine carriers, while the fluid situation in North Africa and Middle East could potentially carry a negative impact on trading firms oil and gas field units. Major positive contributors for the month were Kawasaki Heavy Industries, Ltd. and Asahi Glass Co., Ltd. In Industrials and Orix Corp. in Financials, while Makita Corp. in Industrials, FujiFilm Holdings Corp. in Information Technology and Mitsubishi Corp. in Industrials contributed negatively. Our zero weighting of Softbank Corp. in Telecom Services and Sumitomo Mitsui Financial Group, Inc. in Financials nIndustrials 23.60% nConsumer discretionary
Holding type
carried a negative impact. Kawasaki Heavy Industries and Asahi Glass advanced following the announcement of earnings for the OctoberDecember period, as profits rose above the consensus estimates on the back of strong demand for their products. Orix advanced as the nonbank financing company not only posted strong earnings results but also forecast a continuation of its recovery in the next fiscal year. On the other hand, Makita, FujiFilm Holdings and Mitsubishi Corp. performed poorly in spite of resilient earnings, as a result of profit taking activity. (01.04.2011)
Return
Return and dividends for individual years
2006
2007
2008
2009
2010
Fund Benchmark index
-7.97 -8.54
-17.18 -15.61
-24.93 -23.32
3.38 4.30
21.14 24.09
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds
