The first step in investing. With Flossbach von Storch.

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"Position" is Flossbach von Storch's free magazine. Find out how the financial markets work – and how to invest your assets in a resilient way.

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Three good reasons to choose
Flossbach von Storch – Der erste Schritt

Investment for beginners

The Fund is suitable for those who have little investment experience and are looking for a way out of the trap of long-term negative real interest rates.

Avoiding real losses

Through cautious and experienced investing as well as broad diversification, the Fund helps to avoid real asset losses.

Clear investment decisions

The investment strategy follows a clear world view. The five investment guidelines – diversification, quality, value, solvency and flexibility – provide the principles of the investment strategy.

Detailed information about the performance of the fund can be found here.

The latest fact sheet for the fund can be found here.

+ Participate in global bond market growth.
+ Income can be generated from regular interest payments.
+ Active interest rate, currency and risk management (e.g. from the use of derivatives).
+ Risk is broadly diversified by investing in a range of asset classes (e.g. equities, bonds, convertible bonds etc.) Market potential can be exploited by investing across a wide range.

- The securities in which the Management Company invests the sub-fund assets present opportunities for gain but also the possibility of risk. If a sub-fund invests directly or indirectly in securities and other assets, it is subject to many general trends and tendencies, which are sometimes attributable to irrational factors on the markets particularly on the securities markets. Losses can occur when the market value of the assets decreases as against the cost price. If a unitholder sells units of the sub-fund at a time at which the value of assets in the sub-fund has decreased compared with the time of the unit purchase, he will not receive the full amount he has invested in the sub-fund. Despite the fact that each sub-fund aspires constant growth, this cannot be guaranteed.
- Country, credit and issuer liquidity risk. Also potential exchange rate risks. If securities are illiquid (i.e. thinly traded), there is a risk that it may either not be possible to sell the assets at all or only by accepting a significant discount on the sale price.
- Investing in bonds may entail price risks, especially in case of rising interest rates on the capital markets.
- Where used, derivatives can have a greater negative impact on the fund value than would be the case if the assets were acquired directly. This can affect the fund's risk profile and volatility (tendency for the price to fluctuate).

Please read the Prospectus and particularly the RISK WARNINGS section and the specific annex of the subfund to understand the risks and benefits of this product.

This document does not constitute an offer to sell, purchase or subscribe to securities or other assets. The information and estimates contained herein do not constitute investment advice, legal advice, tax advice or any other advice. The value of the investment and any income from them can fluctuate and investors may not get back the full amount invested. The information given is not a replacement for individual investor advice.

For the summary of investor rights with additional information regarding legal disputes, please refer to the "Supplementary Information Sheet for Investor Information" document at The Management Company may make any country-specific adjustments to the distribution authorisation, including the revocation of distribution regarding its investment funds.

Visit our fund detail page. There you will find performance data, portfolio structure and other detailed fund information.