Flossbach von Storch - Global Emerging Markets Equities I

Flossbach von Storch - Global Emerging Markets Equities is a globally diversified equity fund with an active investment approach. Its investment focus is on high-growth, quality companies from emerging markets as well as first-class companies from industrialised nations that generate a significant portion of their sales in emerging markets. Decisive factors in the selection of individual securities are the sustainability of the business model, competitive advantages, the quality of the management, as well as high sales visibility and profit margin stability. In addition, factors such as the institutional framework conditions, monetary and fiscal policy, inflation rates and currency development of the respective country flow into the evaluation process. The goal is to generate sustainable positive returns. In principle, there are no restrictions on the size of the companies. Sufficient liquidity is a prerequisite. The investment strategy includes in-house valuation models, ESG integration, engagement and voting. In addition, exclusion criteria defined as part of the Sub-Fund's investment policy are taken into account. The Sub-Fund is actively managed. The portfolio is composed by the fund manager exclusively in accordance with the criteria defined in the investment policy, reviewed regularly and adjusted if necessary. The performance of the Sub-Fund is compared using the MSCI Emerging Markets Daily Net Total Return Index as a benchmark. The Investment Manager is not linked to the Index at any time when making investment decisions and the portfolio composition. Therefore, the performance of the Sub-Fund may differ significantly from the benchmark shown. The Sub-Fund is classified as an Article 8 product under the Disclosure Regulation (EU) 2019/2088 (SFDR).


WKN:A1XBPE
ISIN:LU1012014905
Authorised for distribution:AT, CH, DE, LI, LU
Fund type / legal structure:UCITS / FCP
Domicile:Luxemburg
SFDR Classification:Article 8
Fund currency:EUR
Launch date:31 March 2014
Financial year end:30 September
Income utilisation:Distribution
Last distribution:1.00 EUR (as at 10 December 2021)
Management company:Flossbach von Storch Invest S.A.
Custodian bank / Paying agent:DZ PRIVATBANK S.A.
Manager:Flossbach von Storch AG
Data from:18 May 2022
Fund assets:220.318.668,40 EUR
NIW:165.08 EUR
Redemption price:165.08 EUR
Issue price*:173.33 EUR
Ongoing charges:0.93%
which includes a management fee of:0.78%
Performance fee:
Issue surcharge:up to 5.00%

* incl. max. issue surcharge 5.00%

Source: Custodian bank / Paying agent

Annual performance (As at: 18.05.2022)

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Performance (EUR, gross, in %, As at: 18.05.2022)

Reference index: MSCI Emerging Markets Daily Net TR EUR

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Accumulated Performance (gross, in %, As at: 18.05.2022)

YTD-16.26%
1 year-15.30%
3 years19.62%
5 years30.86%
1 year p.a.-15.30%
3 years p.a.6.15%
5 years p.a.5.52%
since launch (31.03.2014)74.90%

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Monthly performance (gross, in %, As at: 18.05.2022)

 202220212020201920182017201620152014
Jan-5.97%6.43%-0.23%6.34%2.59%1.92%-5.50%10.27%
Feb-3.15%-0.14%-5.19%2.92%-2.16%5.33%0.82%2.08%
Mar-0.70%-1.02%-13.92%3.44%-2.84%2.50%7.10%0.45%0.00%
Apr-2.77%1.11%9.69%3.73%1.92%0.27%0.98%-1.03%0.03%
May-4.77%-0.61%0.63%-3.30%0.53%1.30%1.02%-0.41%2.27%
Jun3.71%8.87%3.56%-1.74%-2.18%3.88%-3.68%0.24%
Jul-5.91%4.05%1.57%2.86%1.19%3.94%1.81%1.42%
Aug4.40%6.69%-2.71%-2.96%-1.64%0.64%-8.32%1.69%
Sep-2.24%-1.96%2.60%-2.18%-0.91%-0.17%-4.72%-0.01%
Oct1.66%5.72%2.27%-7.13%2.36%-0.24%9.97%1.48%
Nov-3.15%4.78%2.94%8.51%0.67%-4.83%1.00%3.49%
Dec-0.55%2.91%3.13%-3.00%2.58%2.44%-4.40%-2.37%
YTD-16.26%3.11%21.40%29.44%-6.29%13.96%9.82%1.36%8.44%

Gross fund performance (BVI method) takes into account all costs incurred at fund level (for example, management fees), net fund performance also takes into account the subscription fee. Further costs may be charged individually at customer level (e.g. custody fees, commissions and other charges). Example calculation (net method): An investor wishes to buy shares with capital of €1,000. Based on a maximum subscription fee of 5 %, € 50 will be deducted from their investment as a one-off initial charge. In addition, custody fees may also be applied, which will further reduce the investor’s return. The level of custody fees can be found in your bank’s schedule of fees and services.
Please refer to the cost details presented in this document to determine the maximum subscription fee for the share class of the sub-fund.
The reference index is merely informative. It does not constitute any obligation from the fund manager to track the index or achieve the same performance.
Past performance is not a reliable indicator of future performance.

Source: Custodian bank and SIX Financial Information

Top 10 positions (As at: 30.04.2022)

TAIWAN SEMICONDUCTOR ADR8.00 %
HOUSING DEVELOPMENT FINANCE6.40 %
VISA - CLASS A6.33 %
TENCENT HOLDINGS5.22 %
MERCADOLIBRE5.01 %
AIA GROUP4.67 %
TATA CONSULTANCY SERVICES4.02 %
HDFC BANK3.91 %
MEITUAN3.59 %
BANK CENTRAL ASIA3.44 %

Source: Depositary and Flossbach von Storch

Top 10 sectors (As at: 30.04.2022)

Information Technology26.87 %
Financials24.53 %
Consumer Discretionary15.92 %
Consumer Staples13.12 %
Communication Services10.97 %
Health Care3.67 %
Industrials3.13 %
Materials1.79 %

 Source: Depositary and Flossbach von Storch

Top 10 countries (As at: 30.04.2022)

China22.74 %
India18.57 %
USA13.62 %
Hong Kong9.59 %
Taiwan8.20 %
Argentinia5.13 %
Brazil3.75 %
Indonesia3.53 %
Netherlands3.35 %
South Korea2.53 %

 Source: Depositary and Flossbach von Storch

Other key figures (As at: 30.04.2022)

Sharpe Ratio a0,57
Value at Risk (VaR) b-12,66%
Volatility c19,27%
Maximum drawdown d-27,18%

a The Sharpe ratio is a measurement for the risk/return profile of an investment. In terms of sub-funds, it determines how much outperformance (that is return on the fund’s assets minus the return of a risk-free asset) the sub-fund achieved per unit of risk.

b The value at risk (VaR) is a means to measure risk and describes the loss that, with a pre-defined probability (in this case 99 per cent) and in a predetermined holding period (in this case 20 days), will not be exceeded. Here we are dealing with an ex post VaR which has been calculated according to sub-fund prices for a given time series.

c Volatility is measured through standard deviation and is used to determine the degree of fluctuation of sub-fund prices over a given time frame.

d The “maximum drawdown” shows the maximum loss an investor can suffer through an unfortunate choice of timing for buying or selling securities in a given time period (260 days).

Historic Prices

As atShare class currencyIssue priceRedemption priceNAV*
EUR105.00100.00100.00
EUR105.00100.00100.00
EUR104.9199.9199.91
EUR105.08100.08100.08
EUR105.13100.12100.12
EUR105.21100.20100.20
EUR105.11100.10100.10
EUR105.27100.26100.26
EUR105.24100.23100.23
EUR105.06100.06100.06
EUR105.14100.13100.13
EUR105.58100.55100.55
EUR105.19100.18100.18
EUR105.59100.56100.56
EUR105.80100.76100.76
EUR105.71100.68100.68
EUR105.51100.49100.49
EUR105.23100.22100.22
EUR104.3199.3499.34
EUR104.6199.6399.63
EUR105.03100.03100.03
EUR105.04100.04100.04
EUR105.08100.08100.08
EUR104.7699.7799.77
EUR104.8099.8199.81
EUR104.9899.9899.98
EUR105.87100.83100.83
EUR106.39101.32101.32
EUR107.05101.95101.95
EUR107.43102.31102.31
EUR107.64102.51102.51
EUR107.06101.96101.96
EUR107.47102.35102.35
EUR107.49102.37102.37
EUR106.86101.77101.77
EUR107.56102.44102.44
EUR107.91102.77102.77
EUR107.82102.69102.69
EUR108.06102.91102.91
EUR107.42102.30102.30
EUR107.42102.30102.30
EUR106.87101.78101.78
EUR106.95101.86101.86
EUR106.84101.75101.75
EUR106.47101.40101.40
EUR106.50101.43101.43
EUR107.64102.51102.51
EUR108.42103.26103.26
EUR108.23103.08103.08
EUR108.08102.93102.93
EUR108.13102.98102.98
EUR107.51102.39102.39
EUR107.24102.13102.13
EUR107.59102.47102.47
EUR107.90102.76102.76
EUR107.79102.66102.66
EUR107.76102.63102.63
EUR107.69102.56102.56
EUR107.66102.53102.53
EUR107.68102.55102.55
EUR107.54102.42102.42
EUR108.13102.98102.98
EUR108.13102.98102.98
EUR109.19103.99103.99
EUR109.41104.20104.20
EUR109.11103.91103.91
EUR108.54103.37103.37
EUR108.57103.40103.40
EUR108.28103.12103.12
EUR107.90102.76102.76
EUR108.34103.18103.18
EUR108.45103.29103.29
EUR108.68103.50103.50
EUR107.93102.79102.79
EUR108.68103.50103.50
EUR109.01103.82103.82
EUR110.02104.78104.78
EUR109.76104.53104.53
EUR110.05104.81104.81
EUR109.90104.67104.67
EUR110.08104.84104.84
EUR110.11104.87104.87
EUR109.21104.01104.01
EUR107.67102.54102.54
EUR107.64102.51102.51
EUR108.05102.90102.90
EUR107.63102.50102.50
EUR107.35102.24102.24
EUR106.60101.52101.52
EUR106.76101.68101.68
EUR107.84102.70102.70
EUR108.38103.22103.22
EUR108.74103.56103.56
EUR108.63103.46103.46
EUR109.27104.07104.07
EUR109.85104.62104.62
EUR109.74104.51104.51
EUR109.89104.66104.66
EUR110.15104.90104.90
EUR110.59105.32105.32
EUR111.20105.90105.90
EUR111.36106.06106.06
EUR111.06105.77105.77
EUR111.75106.43106.43
EUR111.45106.14106.14
EUR111.44106.13106.13
EUR111.95106.62106.62
EUR113.27107.88107.88
EUR112.99107.61107.61
EUR112.88107.50107.50
EUR111.50106.19106.19
EUR111.21105.91105.91
EUR111.11105.82105.82
EUR110.18104.93104.93
EUR110.15104.90104.90
EUR110.53105.27105.27
EUR110.52105.26105.26
EUR110.68105.41105.41
EUR110.43105.17105.17
EUR111.45106.14106.14
EUR111.06105.77105.77
EUR112.38107.03107.03
EUR111.24105.94105.94
EUR111.68106.36106.36
EUR111.05105.76105.76
EUR111.50106.19106.19
EUR110.18104.93104.93
EUR109.83104.60104.60
EUR111.25105.95105.95
EUR111.65106.33106.33
EUR110.70105.43105.43
EUR110.27105.02105.02
EUR110.64105.37105.37
EUR108.98103.79103.79
EUR109.16103.96103.96
EUR109.43104.22104.22
EUR107.30102.19102.19
EUR107.17102.07102.07
EUR108.89103.70103.70
EUR108.27103.11103.11
EUR109.43104.22104.22
EUR109.89104.66104.66
EUR109.61104.39104.39
EUR109.49104.28104.28
EUR109.21104.01104.01
EUR110.55105.29105.29
EUR111.99106.66106.66
EUR112.69107.32107.32
EUR113.94108.51108.51
EUR113.00107.62107.62
EUR112.78107.41107.41
EUR112.84107.47107.47
EUR113.00107.62107.62
EUR113.06107.68107.68
EUR113.70108.29108.29
EUR113.34107.94107.94
EUR113.78108.36108.36
EUR113.61108.20108.20
EUR113.20107.81107.81
EUR113.66108.25108.25
EUR113.67108.26108.26
EUR114.03108.60108.60
EUR114.63109.17109.17
EUR117.30111.71111.71
EUR116.40110.86110.86
EUR115.95110.43110.43
EUR116.50110.95110.95
EUR116.62111.07111.07
EUR115.84110.32110.32
EUR114.98109.50109.50
EUR115.12109.64109.64
EUR115.38109.89109.89
EUR114.50109.05109.05
EUR114.96109.49109.49
EUR113.36107.96107.96
EUR112.69107.32107.32
EUR111.17105.88105.88
EUR110.09104.85104.85
EUR108.54103.37103.37
EUR106.76101.68101.68
EUR105.88100.84100.84
EUR108.42103.26103.26
EUR111.12105.83105.83
EUR111.66106.34106.34
EUR112.16106.82106.82
EUR112.63107.27107.27
EUR113.15107.76107.76
EUR113.98108.55108.55
EUR113.41108.01108.01
EUR111.65106.33106.33
EUR112.41107.06107.06
EUR114.09108.66108.66
EUR115.82110.30110.30
EUR115.35109.86109.86
EUR115.30109.81109.81
EUR115.98110.46110.46
EUR116.43110.89110.89
EUR118.22112.59112.59
EUR118.57112.92112.92
EUR118.46112.82112.82
EUR119.40113.71113.71
EUR120.37114.64114.64
EUR124.81118.87118.87
EUR125.10119.14119.14
EUR124.44118.51118.51
EUR124.98119.03119.03
EUR125.27119.30119.30
EUR124.77118.83118.83
EUR123.05117.19117.19
EUR123.64117.75117.75
EUR123.43117.55117.55
EUR123.86117.96117.96
EUR124.58118.65118.65
EUR124.99119.04119.04
EUR124.93118.98118.98
EUR124.11118.20118.20
EUR123.44117.56117.56
EUR124.12118.21118.21
EUR124.70118.76118.76
EUR125.37119.40119.40
EUR124.89118.94118.94
EUR124.95119.00119.00
EUR125.81119.82119.82
EUR125.48119.50119.50
EUR125.78119.79119.79
EUR126.27120.26120.26
EUR126.04120.04120.04
EUR127.37121.30121.30
EUR127.21121.15121.15
EUR126.75120.71120.71
EUR127.17121.11121.11
EUR127.73121.65121.65
EUR128.84122.70122.70
EUR128.37122.26122.26
EUR128.07121.97121.97
EUR127.45121.38121.38
EUR128.84122.70122.70
EUR129.05122.90122.90
EUR128.72122.59122.59
EUR128.76122.63122.63
EUR129.01122.87122.87
EUR129.44123.28123.28
EUR128.43122.31122.31
EUR128.03121.93121.93
EUR127.20121.14121.14
EUR127.62121.54121.54
EUR125.76119.77119.77
EUR125.67119.69119.69
EUR125.87119.88119.88
EUR127.93121.84121.84
EUR128.17122.07122.07
EUR128.97122.83122.83
EUR130.13123.93123.93
EUR131.08124.84124.84
EUR133.19126.85126.85
EUR134.78128.36128.36
EUR135.40128.95128.95
EUR135.32128.88128.88
EUR134.43128.03128.03
EUR134.88128.46128.46
EUR133.90127.52127.52
EUR132.73126.41126.41
EUR132.85126.52126.52
EUR132.13125.84125.84
EUR132.50126.19126.19
EUR131.57125.30125.30
EUR131.86125.58125.58
EUR131.52125.26125.26
EUR129.77123.59123.59
EUR126.62120.59120.59
EUR126.23120.22120.22
EUR127.26121.20121.20
EUR125.69119.70119.70
EUR123.56117.68117.68
EUR124.69118.75118.75
EUR126.50120.48120.48
EUR125.38119.41119.41
EUR124.86118.91118.91
EUR124.74118.80118.80
EUR125.03119.08119.08
EUR127.37121.30121.30
EUR127.64121.56121.56
EUR127.39121.32121.32
EUR127.33121.27121.27
EUR128.49122.37122.37
EUR126.44120.42120.42
EUR126.35120.33120.33
EUR126.09120.09120.09
EUR125.48119.50119.50
EUR124.51118.58118.58
EUR122.58116.74116.74
EUR120.49114.75114.75
EUR119.91114.20114.20
EUR120.07114.35114.35
EUR118.77113.11113.11
EUR118.47112.83112.83
EUR119.99114.28114.28
EUR120.00114.29114.29
EUR119.78114.08114.08
EUR119.10113.43113.43
EUR119.84114.13114.13
EUR119.90114.19114.19
EUR120.79115.04115.04
EUR120.88115.12115.12
EUR122.87117.02117.02
EUR122.88117.03117.03
EUR123.10117.24117.24
EUR123.43117.55117.55
EUR121.45115.67115.67
EUR122.39116.56116.56
EUR123.23117.36117.36
EUR123.61117.72117.72
EUR123.38117.50117.50
EUR123.35117.48117.48
EUR121.57115.78115.78
EUR120.60114.86114.86
EUR121.38115.60115.60
EUR122.87117.02117.02
EUR124.98119.03119.03
EUR125.23119.27119.27
EUR126.24120.23120.23
EUR127.17121.11121.11
EUR127.18121.12121.12
EUR127.27121.21121.21
EUR125.76119.77119.77
EUR125.01119.06119.06
EUR124.87118.92118.92
EUR122.37116.54116.54
EUR121.52115.73115.73
EUR121.46115.68115.68
EUR122.77116.92116.92
EUR123.65117.76117.76
EUR123.95118.05118.05
EUR123.86117.96117.96
EUR125.18119.22119.22
EUR125.01119.06119.06
EUR124.12118.21118.21
EUR123.72117.83117.83
EUR123.33117.46117.46
EUR120.41114.68114.68
EUR119.04113.37113.37
EUR118.49112.85112.85
EUR118.69113.04113.04
EUR118.22112.59112.59
EUR118.37112.73112.73
EUR116.58111.03111.03
EUR114.52109.07109.07
EUR108.92103.73103.73
EUR106.50101.43101.43
EUR107.68102.55102.55
EUR110.30105.05105.05
EUR112.39107.04107.04
EUR113.36107.96107.96
EUR111.63106.31106.31
EUR110.23104.98104.98
EUR110.85105.57105.57
EUR112.26106.91106.91
EUR109.47104.26104.26
EUR109.19103.99103.99
EUR110.58105.31105.31
EUR109.79104.56104.56
EUR108.70103.52103.52
EUR108.50103.33103.33
EUR109.12103.92103.92
EUR110.01104.77104.77
EUR111.48106.17106.17
EUR110.97105.69105.69
EUR110.90105.62105.62
EUR111.55106.24106.24
EUR109.86104.63104.63
EUR108.15103.00103.00
EUR109.14103.94103.94
EUR108.85103.67103.67
EUR106.66101.58101.58
EUR108.00102.86102.86
EUR110.60105.33105.33
EUR110.41105.15105.15
EUR111.89106.56106.56
EUR114.59109.13109.13
EUR115.74110.23110.23
EUR115.58110.08110.08
EUR116.15110.62110.62
EUR116.48110.93110.93
EUR115.15109.67109.67
EUR114.10108.67108.67
EUR115.25109.76109.76
EUR116.55111.00111.00
EUR116.67111.11111.11
EUR116.74111.18111.18
EUR115.90110.38110.38
EUR115.58110.08110.08
EUR119.54113.85113.85
EUR120.90115.14115.14
EUR120.33114.60114.60
EUR120.10114.38114.38
EUR120.10114.38114.38
EUR118.78113.12113.12
EUR118.49112.85112.85
EUR119.32113.64113.64
EUR121.34115.56115.56
EUR121.70115.90115.90
EUR121.34115.56115.56
EUR120.29114.56114.56
EUR119.42113.73113.73
EUR119.32113.64113.64
EUR120.40114.67114.67
EUR118.51112.87112.87
EUR117.24111.66111.66
EUR119.23113.55113.55
EUR119.92114.21114.21
EUR120.17114.45114.45
EUR121.56115.77115.77
EUR122.19116.37116.37
EUR121.45115.67115.67
EUR121.43115.65115.65
EUR121.39115.61115.61
EUR120.90115.14115.14
EUR119.96114.25114.25
EUR119.89114.18114.18
EUR120.26114.53114.53
EUR120.44114.70114.70
EUR116.69111.13111.13
EUR116.67111.11111.11
EUR115.65110.14110.14
EUR113.89108.47108.47
EUR113.35107.95107.95
EUR112.16106.82106.82
EUR109.24104.04104.04
EUR108.84103.66103.66
EUR111.13105.84105.84
EUR113.00107.62107.62
EUR113.23107.84107.84
EUR112.05106.71106.71
EUR111.79106.47106.47
EUR112.26106.91106.91
EUR112.48107.12107.12
EUR112.71107.34107.34
EUR113.00107.62107.62
EUR111.24105.94105.94
EUR110.49105.23105.23
EUR111.07105.78105.78
EUR108.41103.25103.25
EUR106.21101.15101.15
EUR105.14100.13100.13
EUR104.2299.2699.26
EUR106.06101.01101.01
EUR104.5699.5899.58
EUR104.6099.6299.62
EUR102.9398.0398.03
EUR103.2698.3498.34
EUR102.2897.4197.41
EUR101.1396.3196.31
EUR102.7197.8297.82
EUR104.9999.9999.99
EUR104.0199.0699.06
EUR104.9899.9899.98
EUR105.68100.65100.65
EUR106.79101.70101.70
EUR109.90104.67104.67
EUR108.71103.53103.53
EUR107.17102.07102.07
EUR105.92100.88100.88
EUR106.77101.69101.69
EUR106.14101.09101.09
EUR105.21100.20100.20
EUR103.4698.5398.53
EUR102.4097.5297.52
EUR101.7396.8996.89
EUR104.1899.2299.22
EUR105.02100.02100.02
EUR104.9199.9199.91
EUR107.51102.39102.39
EUR107.50102.38102.38
EUR107.36102.25102.25
EUR108.62103.45103.45
EUR107.54102.42102.42
EUR106.50101.43101.43
EUR107.08101.98101.98
EUR107.66102.53102.53
EUR109.77104.54104.54
EUR112.96107.58107.58
EUR114.06108.63108.63
EUR114.07108.64108.64
EUR114.98109.50109.50
EUR113.86108.44108.44
EUR113.95108.52108.52
EUR114.96109.49109.49
EUR113.72108.30108.30
EUR114.17108.73108.73
EUR113.62108.21108.21
EUR112.46107.10107.10
EUR112.27106.92106.92
EUR114.66109.20109.20
EUR115.65110.14110.14
EUR115.90110.38110.38
EUR115.69110.18110.18
EUR114.75109.29109.29
EUR114.59109.13109.13
EUR114.60109.14109.14
EUR115.30109.81109.81
EUR114.29108.85108.85
EUR114.86109.39109.39
EUR114.04108.61108.61
EUR112.89107.51107.51
EUR112.78107.41107.41
EUR112.44107.09107.09
EUR113.24107.85107.85
EUR113.34107.94107.94
EUR115.30109.81109.81
EUR117.33111.74111.74
EUR117.44111.85111.85
EUR116.87111.30111.30
EUR116.99111.42111.42
EUR117.54111.94111.94
EUR118.15112.52112.52
EUR117.32111.73111.73
EUR116.88111.31111.31
EUR116.39110.85110.85
EUR116.61111.06111.06
EUR116.78111.22111.22
EUR116.43110.89110.89
EUR115.59110.09110.09
EUR113.91108.49108.49
EUR113.22107.83107.83
EUR113.03107.65107.65
EUR113.59108.18108.18
EUR113.57108.16108.16
EUR114.67109.21109.21
EUR114.66109.20109.20
EUR114.53109.08109.08
EUR114.71109.25109.25
EUR114.68109.22109.22
EUR114.22108.78108.78
EUR113.37107.97107.97
EUR114.07108.64108.64
EUR113.96108.53108.53
EUR115.94110.42110.42
EUR116.56111.01111.01
EUR117.63112.03112.03
EUR118.09112.47112.47
EUR117.62112.02112.02
EUR117.43111.84111.84
EUR117.46111.87111.87
EUR118.14112.51112.51
EUR117.63112.03112.03
EUR118.28112.65112.65
EUR118.66113.01113.01
EUR119.04113.37113.37
EUR118.46112.82112.82
EUR117.08111.50111.50
EUR116.18110.65110.65
EUR115.85110.33110.33
EUR115.78110.27110.27
EUR116.92111.35111.35
EUR116.90111.33111.33
EUR118.24112.61112.61
EUR118.97113.30113.30
EUR119.74114.04114.04
EUR118.87113.21113.21
EUR118.30112.67112.67
EUR120.55114.81114.81
EUR122.19116.37116.37
EUR123.82117.92117.92
EUR124.65118.71118.71
EUR123.56117.68117.68
EUR123.25117.38117.38
EUR123.04117.18117.18
EUR122.93117.08117.08
EUR125.19119.23119.23
EUR125.75119.76119.76
EUR126.11120.10120.10
EUR125.84119.85119.85
EUR126.28120.27120.27
EUR127.12121.07121.07
EUR127.09121.04121.04
EUR127.92121.83121.83
EUR127.95121.86121.86
EUR127.89121.80121.80
EUR128.96122.82122.82
EUR128.22122.11122.11
EUR128.38122.27122.27
EUR127.46121.39121.39
EUR127.01120.96120.96
EUR127.32121.26121.26
EUR127.46121.39121.39
EUR125.93119.93119.93
EUR126.88120.84120.84
EUR127.47121.40121.40
EUR128.90122.76122.76
EUR128.98122.84122.84
EUR129.20123.05123.05
EUR129.03122.89122.89
EUR130.23124.03124.03
EUR129.45123.29123.29
EUR128.78122.65122.65
EUR128.69122.56122.56
EUR128.07121.97121.97
EUR128.01121.91121.91
EUR127.46121.39121.39
EUR127.14121.09121.09
EUR127.23121.17121.17
EUR127.11121.06121.06
EUR127.21121.15121.15
EUR127.95121.86121.86
EUR127.83121.74121.74
EUR127.46121.39121.39
EUR127.55121.48121.48
EUR129.51123.34123.34
EUR130.01123.82123.82
EUR130.21124.01124.01
EUR130.01123.82123.82
EUR128.63122.50122.50
EUR126.26120.25120.25
EUR126.92120.88120.88
EUR125.76119.77119.77
EUR125.98119.98119.98
EUR126.77120.73120.73
EUR126.74120.70120.70
EUR126.81120.77120.77
EUR127.54121.47121.47
EUR127.82121.73121.73
EUR129.05122.90122.90
EUR127.93121.84121.84
EUR127.74121.66121.66
EUR128.60122.48122.48
EUR128.17122.07122.07
EUR127.61121.53121.53
EUR127.96121.87121.87
EUR128.97122.83122.83
EUR128.26122.15122.15
EUR128.25122.14122.14
EUR127.74121.66121.66
EUR127.52121.45121.45
EUR127.94121.85121.85
EUR127.79121.70121.70
EUR127.11121.06121.06
EUR126.96120.91120.91
EUR126.70120.67120.67
EUR127.33121.27121.27
EUR128.14122.04122.04
EUR128.54122.42122.42
EUR129.16123.01123.01
EUR129.36123.20123.20
EUR129.14122.99122.99
EUR128.71122.58122.58
EUR127.96121.87121.87
EUR127.87121.78121.78
EUR127.30121.24121.24
EUR125.21119.25119.25
EUR124.35118.43118.43
EUR124.10118.19118.19
EUR124.29118.37118.37
EUR125.91119.91119.91
EUR124.60118.67118.67
EUR125.60119.62119.62
EUR120.83115.08115.08
EUR120.53114.79114.79
EUR118.92113.26113.26
EUR120.23114.50114.50
EUR120.12114.40114.40
EUR120.37114.64114.64
EUR119.87114.16114.16
EUR120.39114.66114.66
EUR120.50114.76114.76
EUR120.32114.59114.59
EUR120.86115.10115.10
EUR120.74114.99114.99
EUR121.55115.76115.76
EUR121.15115.38115.38
EUR121.66115.87115.87
EUR119.19113.51113.51
EUR119.73114.03114.03
EUR119.20113.52113.52
EUR119.87114.16114.16
EUR120.83115.08115.08
EUR122.76116.91116.91
EUR122.90117.05117.05
EUR122.63116.79116.79
EUR121.75115.95115.95
EUR121.22115.45115.45
EUR121.56115.77115.77
EUR120.59114.85114.85
EUR121.09115.32115.32
EUR120.97115.21115.21
EUR120.37114.64114.64
EUR120.05114.33114.33
EUR120.69114.94114.94
EUR121.22115.45115.45
EUR122.26116.44116.44
EUR122.65116.81116.81
EUR122.43116.60116.60
EUR123.04117.18117.18
EUR123.54117.66117.66
EUR123.21117.34117.34
EUR122.90117.05117.05
EUR122.96117.10117.10
EUR122.85117.00117.00
EUR123.45117.57117.57
EUR122.84116.99116.99
EUR122.65116.81116.81
EUR123.33117.46117.46
EUR123.13117.27117.27
EUR122.56116.72116.72
EUR122.85117.00117.00
EUR122.56116.72116.72
EUR122.62116.78116.78
EUR123.30117.43117.43
EUR125.01119.06119.06
EUR125.92119.92119.92
EUR125.76119.77119.77
EUR125.91119.91119.91
EUR125.00119.05119.05
EUR124.93118.98118.98
EUR125.39119.42119.42
EUR126.19120.18120.18
EUR127.50121.43121.43
EUR127.44121.37121.37
EUR127.56121.49121.49
EUR127.39121.32121.32
EUR128.21122.10122.10
EUR128.87122.73122.73
EUR129.57123.40123.40
EUR130.59124.37124.37
EUR130.44124.23124.23
EUR130.21124.01124.01
EUR131.03124.79124.79
EUR132.05125.76125.76
EUR132.86126.53126.53
EUR132.77126.45126.45
EUR132.87126.54126.54
EUR132.18125.89125.89
EUR131.66125.39125.39
EUR131.73125.46125.46
EUR132.47126.16126.16
EUR131.26125.01125.01
EUR130.82124.59124.59
EUR131.43125.17125.17
EUR131.44125.18125.18
EUR130.68124.46124.46
EUR129.83123.65123.65
EUR130.53124.31124.31
EUR131.52125.26125.26
EUR132.04125.75125.75
EUR133.14126.80126.80
EUR133.51127.15127.15
EUR134.05127.67127.67
EUR134.59128.18128.18
EUR133.54127.18127.18
EUR133.82127.45127.45
EUR133.75127.38127.38
EUR133.64127.28127.28
EUR133.57127.21127.21
EUR134.37127.97127.97
EUR135.49129.04129.04
EUR134.95128.52128.52
EUR135.03128.60128.60
EUR135.12128.69128.69
EUR135.46129.01129.01
EUR134.78128.36128.36
EUR135.01128.58128.58
EUR135.52129.07129.07
EUR135.56129.10129.10
EUR135.35128.90128.90
EUR135.77129.30129.30
EUR136.00129.52129.52
EUR134.66128.25128.25
EUR134.76128.34128.34
EUR135.48129.03129.03
EUR134.52128.11128.11
EUR135.74129.28129.28
EUR136.21129.72129.72
EUR135.59129.13129.13
EUR135.31128.87128.87
EUR136.06129.58129.58
EUR136.24129.75129.75
EUR136.05129.57129.57
EUR134.81128.39128.39
EUR135.69129.23129.23
EUR136.63130.12130.12
EUR137.82131.26131.26
EUR139.03132.41132.41
EUR139.13132.50132.50
EUR139.29132.66132.66
EUR139.00132.38132.38
EUR137.97131.40131.40
EUR135.81129.34129.34
EUR134.52128.11128.11
EUR135.72129.26129.26
EUR135.01128.58128.58
EUR136.14129.66129.66
EUR136.62130.11130.11
EUR137.79131.23131.23
EUR137.80131.24131.24
EUR137.08130.55130.55
EUR136.52130.02130.02
EUR137.11130.58130.58
EUR137.66131.10131.10
EUR137.54130.99130.99
EUR137.62131.07131.07
EUR137.74131.18131.18
EUR136.97130.45130.45
EUR136.70130.19130.19
EUR137.12130.59130.59
EUR137.56131.01131.01
EUR137.09130.56130.56
EUR137.54130.99130.99
EUR138.08131.50131.50
EUR137.58131.03131.03
EUR137.66131.10131.10
EUR137.67131.11131.11
EUR137.93131.36131.36
EUR134.83128.41128.41
EUR134.79128.37128.37
EUR134.09127.70127.70
EUR135.05128.62128.62
EUR135.04128.61128.61
EUR134.49128.09128.09
EUR134.65128.24128.24
EUR133.21126.87126.87
EUR133.70127.33127.33
EUR134.09127.70127.70
EUR133.90127.52127.52
EUR136.21129.72129.72
EUR136.51130.01130.01
EUR137.13130.60130.60
EUR136.02129.54129.54
EUR136.01129.53129.53
EUR136.35129.86129.86
EUR135.45129.00129.00
EUR135.67129.21129.21
EUR135.74129.28129.28
EUR135.93129.46129.46
EUR136.58130.08130.08
EUR136.35129.86129.86
EUR135.68129.22129.22
EUR134.19127.80127.80
EUR134.11127.72127.72
EUR133.98127.60127.60
EUR133.30126.95126.95
EUR133.68127.31127.31
EUR134.23127.84127.84
EUR134.25127.86127.86
EUR133.99127.61127.61
EUR132.20125.90125.90
EUR132.50126.19126.19
EUR134.62128.21128.21
EUR134.72128.30128.30
EUR133.89127.51127.51
EUR133.46127.10127.10
EUR133.33126.98126.98
EUR133.75127.38127.38
EUR134.18127.79127.79
EUR134.68128.27128.27
EUR133.86127.49127.49
EUR131.78125.50125.50
EUR133.19126.85126.85
EUR133.46127.10127.10
EUR133.95127.57127.57
EUR133.54127.18127.18
EUR133.58127.22127.22
EUR132.23125.93125.93
EUR133.00126.67126.67
EUR132.37126.07126.07
EUR132.87126.54126.54
EUR134.06127.68127.68
EUR133.48127.12127.12
EUR134.05127.67127.67
EUR133.93127.55127.55
EUR134.03127.65127.65
EUR133.10126.76126.76
EUR132.84126.51126.51
EUR133.43127.08127.08
EUR132.63126.31126.31
EUR132.83126.50126.50
EUR132.75126.43126.43
EUR132.63126.31126.31
EUR131.89125.61125.61
EUR132.24125.94125.94
EUR133.00126.67126.67
EUR133.44127.09127.09
EUR134.41128.01128.01
EUR134.30127.90127.90
EUR134.73128.31128.31
EUR134.36127.96127.96
EUR134.35127.95127.95
EUR134.00127.62127.62
EUR134.74128.32128.32
EUR135.82129.35129.35
EUR136.74130.23130.23
EUR136.50130.00130.00
EUR136.45129.95129.95
EUR136.01129.53129.53
EUR135.08128.65128.65
EUR135.02128.59128.59
EUR134.36127.96127.96
EUR133.89127.51127.51
EUR133.00126.67126.67
EUR134.38127.98127.98
EUR135.73129.27129.27
EUR135.36128.91128.91
EUR136.25129.76129.76
EUR135.93129.46129.46
EUR136.50130.00130.00
EUR137.45130.90130.90
EUR136.63130.12130.12
EUR136.98130.46130.46
EUR135.82129.35129.35
EUR134.76128.34128.34
EUR134.26127.87127.87
EUR132.67126.35126.35
EUR133.67127.30127.30
EUR135.08128.65128.65
EUR136.32129.83129.83
EUR137.35130.81130.81
EUR138.44131.85131.85
EUR137.63131.08131.08
EUR137.16130.63130.63
EUR136.73130.22130.22
EUR137.10130.57130.57
EUR137.79131.23131.23
EUR136.26129.77129.77
EUR134.83128.41128.41
EUR135.59129.13129.13
EUR136.01129.53129.53
EUR135.87129.40129.40
EUR136.01129.53129.53
EUR136.94130.42130.42
EUR136.62130.11130.11
EUR136.45129.95129.95
EUR136.78130.27130.27
EUR136.48129.98129.98
EUR136.45129.95129.95
EUR137.06130.53130.53
EUR138.04131.47131.47
EUR137.37130.83130.83
EUR137.20130.67130.67
EUR138.21131.63131.63
EUR137.74131.18131.18
EUR138.31131.72131.72
EUR138.62132.02132.02
EUR138.54131.94131.94
EUR139.83133.17133.17
EUR140.56133.87133.87
EUR140.31133.63133.63
EUR141.95135.19135.19
EUR142.38135.60135.60
EUR142.15135.38135.38
EUR141.48134.74134.74
EUR139.87133.21133.21
EUR139.76133.10133.10
EUR139.93133.27133.27
EUR140.43133.74133.74
EUR141.89135.13135.13
EUR142.17135.40135.40
EUR143.40136.57136.57
EUR144.40137.52137.52
EUR144.04137.18137.18
EUR143.96137.10137.10
EUR143.78136.93136.93
EUR144.73137.84137.84
EUR143.35136.52136.52
EUR142.21135.44135.44
EUR142.35135.57135.57
EUR140.82134.11134.11
EUR138.88132.27132.27
EUR135.68129.22129.22
EUR135.88129.41129.41
EUR136.72130.21130.21
EUR133.94127.56127.56
EUR134.01127.63127.63
EUR134.91128.49128.49
EUR134.95128.52128.52
EUR135.98129.50129.50
EUR136.85130.33130.33
EUR138.04131.47131.47
EUR137.60131.05131.05
EUR138.68132.08132.08
EUR138.31131.72131.72
EUR138.72132.11132.11
EUR139.93133.27133.27
EUR139.95133.29133.29
EUR139.15132.52132.52
EUR138.57131.97131.97
EUR137.05130.52130.52
EUR135.70129.24129.24
EUR136.25129.76129.76
EUR136.10129.62129.62
EUR136.75130.24130.24
EUR138.14131.56131.56
EUR140.06133.39133.39
EUR139.91133.25133.25
EUR138.75132.14132.14
EUR138.87132.26132.26
EUR138.84132.23132.23
EUR138.69132.09132.09
EUR137.69131.13131.13
EUR138.81132.20132.20
EUR138.22131.64131.64
EUR136.05129.57129.57
EUR135.41128.96128.96
EUR136.09129.61129.61
EUR134.74128.32128.32
EUR135.19128.75128.75
EUR136.20129.71129.71
EUR135.71129.25129.25
EUR136.92130.40130.40
EUR137.78131.22131.22
EUR136.65130.14130.14
EUR136.63130.12130.12
EUR137.45130.90130.90
EUR137.10130.57130.57
EUR137.17130.64130.64
EUR136.09129.61129.61
EUR135.21128.77128.77
EUR136.49129.99129.99
EUR137.10130.57130.57
EUR136.16129.68129.68
EUR135.91129.44129.44
EUR136.13129.65129.65
EUR134.47128.07128.07
EUR134.26127.87127.87
EUR136.42129.92129.92
EUR137.78131.22131.22
EUR138.83132.22132.22
EUR137.53130.98130.98
EUR136.61130.10130.10
EUR137.46130.91130.91
EUR137.93131.36131.36
EUR138.55131.95131.95
EUR139.47132.83132.83
EUR139.36132.72132.72
EUR138.87132.26132.26
EUR138.56131.96131.96
EUR139.59132.94132.94
EUR138.03131.46131.46
EUR137.46130.91130.91
EUR138.14131.56131.56
EUR138.41131.82131.82
EUR138.52131.92131.92
EUR139.89133.23133.23
EUR140.02133.35133.35
EUR138.40131.81131.81
EUR138.51131.91131.91
EUR138.79132.18132.18
EUR139.67133.02133.02
EUR140.93134.22134.22
EUR139.73133.08133.08
EUR139.56132.91132.91
EUR137.10130.57130.57
EUR137.92131.35131.35
EUR137.95131.38131.38
EUR138.66132.06132.06
EUR137.32130.78130.78
EUR139.17132.54132.54
EUR138.93132.31132.31
EUR137.08130.55130.55
EUR137.30130.76130.76
EUR136.98130.46130.46
EUR136.05129.57129.57
EUR136.79130.28130.28
EUR135.64129.18129.18
EUR135.52129.07129.07
EUR134.60128.19128.19
EUR136.09129.61129.61
EUR135.93129.46129.46
EUR134.67128.26128.26
EUR135.92129.45129.45
EUR135.38128.93128.93
EUR135.58129.12129.12
EUR137.09130.56130.56
EUR137.52130.97130.97
EUR138.53131.93131.93
EUR138.50131.90131.90
EUR140.12133.45133.45
EUR139.76133.10133.10
EUR139.17132.54132.54
EUR141.04134.32134.32
EUR140.77134.07134.07
EUR140.43133.74133.74
EUR140.37133.69133.69
EUR140.92134.21134.21
EUR141.82135.07135.07
EUR142.37135.59135.59
EUR142.52135.73135.73
EUR141.71134.96134.96
EUR139.99133.32133.32
EUR140.19133.51133.51
EUR139.85133.19133.19
EUR139.97133.30133.30
EUR141.17134.45134.45
EUR140.93134.22134.22
EUR141.23134.50134.50
EUR141.26134.53134.53
EUR141.62134.88134.88
EUR139.94133.28133.28
EUR138.97132.35132.35
EUR136.58130.08130.08
EUR136.76130.25130.25
EUR137.91131.34131.34
EUR137.46130.91130.91
EUR137.39130.85130.85
EUR137.98131.41131.41
EUR137.06130.53130.53
EUR137.87131.30131.30
EUR138.58131.98131.98
EUR138.31131.72131.72
EUR138.05131.48131.48
EUR135.85129.38129.38
EUR136.36129.87129.87
EUR136.51130.01130.01
EUR133.41127.06127.06
EUR131.28125.03125.03
EUR131.07124.83124.83
EUR131.49125.23125.23
EUR129.73123.55123.55
EUR129.69123.51123.51
EUR130.78124.55124.55
EUR131.16124.91124.91
EUR130.86124.63124.63
EUR130.44124.23124.23
EUR129.80123.62123.62
EUR130.42124.21124.21
EUR131.19124.94124.94
EUR130.78124.55124.55
EUR130.33124.12124.12
EUR130.23124.03124.03
EUR131.55125.29125.29
EUR132.89126.56126.56
EUR133.19126.85126.85
EUR133.17126.83126.83
EUR131.75125.48125.48
EUR130.92124.69124.69
EUR128.73122.60122.60
EUR127.07121.02121.02
EUR127.14121.09121.09
EUR127.34121.28121.28
EUR122.88117.03117.03
EUR123.73117.84117.84
EUR124.74118.80118.80
EUR124.29118.37118.37
EUR125.65119.67119.67
EUR125.79119.80119.80
EUR124.62118.69118.69
EUR125.48119.50119.50
EUR125.18119.22119.22
EUR125.07119.11119.11
EUR122.69116.85116.85
EUR123.76117.87117.87
EUR122.90117.05117.05
EUR120.96115.20115.20
EUR123.42117.54117.54
EUR129.38123.22123.22
EUR128.77122.64122.64
EUR128.90122.76122.76
EUR128.57122.45122.45
EUR130.26124.06124.06
EUR128.45122.33122.33
EUR127.93121.84121.84
EUR127.85121.76121.76
EUR127.83121.74121.74
EUR129.33123.17123.17
EUR130.32124.11124.11
EUR130.58124.36124.36
EUR128.48122.36122.36
EUR127.82121.73121.73
EUR129.14122.99122.99
EUR129.47123.30123.30
EUR130.13123.93123.93
EUR131.15124.90124.90
EUR132.88126.55126.55
EUR133.90127.52127.52
EUR133.92127.54127.54
EUR135.38128.93128.93
EUR136.10129.62129.62
EUR135.02128.59128.59
EUR132.95126.62126.62
EUR132.04125.75125.75
EUR130.00123.81123.81
EUR129.60123.43123.43
EUR131.73125.46125.46
EUR132.93126.60126.60
EUR132.71126.39126.39
EUR132.28125.98125.98
EUR130.70124.48124.48
EUR131.09124.85124.85
EUR130.16123.96123.96
EUR129.81123.63123.63
EUR129.63123.46123.46
EUR129.90123.71123.71
EUR130.34124.13124.13
EUR130.60124.38124.38
EUR130.16123.96123.96
EUR132.10125.81125.81
EUR131.70125.43125.43
EUR132.95126.62126.62
EUR133.41127.06127.06
EUR134.16127.77127.77
EUR134.02127.64127.64
EUR135.31128.87128.87
EUR135.89129.42129.42
EUR136.28129.79129.79
EUR137.06130.53130.53
EUR137.77131.21131.21
EUR137.56131.01131.01
EUR135.95129.48129.48
EUR136.49129.99129.99
EUR138.38131.79131.79
EUR137.55131.00131.00
EUR136.78130.27130.27
EUR136.45129.95129.95
EUR138.13131.55131.55
EUR139.51132.87132.87
EUR139.58132.93132.93
EUR140.00133.33133.33
EUR141.32134.59134.59
EUR141.28134.55134.55
EUR140.68133.98133.98
EUR140.96134.25134.25
EUR141.19134.47134.47
EUR141.44134.70134.70
EUR141.14134.42134.42
EUR140.06133.39133.39
EUR140.33133.65133.65
EUR139.79133.13133.13
EUR140.69133.99133.99
EUR141.27134.54134.54
EUR141.02134.30134.30
EUR142.64135.85135.85
EUR142.59135.80135.80
EUR141.83135.08135.08
EUR142.16135.39135.39
EUR142.07135.30135.30
EUR142.15135.38135.38
EUR143.03136.22136.22
EUR143.70136.86136.86
EUR143.00136.19136.19
EUR142.78135.98135.98
EUR143.06136.25136.25
EUR144.84137.94137.94
EUR144.87137.97137.97
EUR144.93138.03138.03
EUR145.40138.48138.48
EUR146.72139.73139.73
EUR146.78139.79139.79
EUR146.80139.81139.81
EUR146.06139.10139.10
EUR147.07140.07140.07
EUR144.48137.60137.60
EUR145.03138.12138.12
EUR145.77138.83138.83
EUR145.28138.36138.36
EUR147.05140.05140.05
EUR147.96140.91140.91
EUR149.40142.29142.29
EUR149.95142.81142.81
EUR149.57142.45142.45
EUR150.16143.01143.01
EUR150.68143.50143.50
EUR150.79143.61143.61
EUR150.64143.47143.47
EUR150.64143.47143.47
EUR150.16143.01143.01
EUR150.08142.93142.93
EUR150.23143.08143.08
EUR150.54143.37143.37
EUR151.25144.05144.05
EUR151.11143.91143.91
EUR152.22144.97144.97
EUR151.67144.45144.45
EUR152.19144.94144.94
EUR152.49145.23145.23
EUR152.53145.27145.27
EUR153.21145.91145.91
EUR153.65146.33146.33
EUR152.26145.01145.01
EUR151.86144.63144.63
EUR150.06142.91142.91
EUR148.50141.43141.43
EUR147.90140.86140.86
EUR145.41138.49138.49
EUR147.21140.20140.20
EUR146.75139.76139.76
EUR147.34140.32140.32
EUR147.46140.44140.44
EUR146.72139.73139.73
EUR147.42140.40140.40
EUR146.34139.37139.37
EUR145.55138.62138.62
EUR146.34139.37139.37
EUR146.82139.83139.83
EUR146.59139.61139.61
EUR147.49140.47140.47
EUR148.21141.15141.15
EUR147.18140.17140.17
EUR147.57140.54140.54
EUR147.26140.25140.25
EUR147.32140.30140.30
EUR150.01142.87142.87
EUR149.68142.55142.55
EUR150.21143.06143.06
EUR149.55142.43142.43
EUR149.33142.22142.22
EUR150.01142.87142.87
EUR152.96145.68145.68
EUR153.24145.94145.94
EUR153.20145.90145.90
EUR152.24144.99144.99
EUR152.25145.00145.00
EUR151.83144.60144.60
EUR152.78145.50145.50
EUR152.74145.47145.47
EUR154.11146.77146.77
EUR156.39148.94148.94
EUR156.20148.76148.76
EUR156.20148.76148.76
EUR156.78149.31149.31
EUR155.40148.00148.00
EUR154.73147.36147.36
EUR154.62147.26147.26
EUR155.39147.99147.99
EUR155.39147.99147.99
EUR155.64148.23148.23
EUR156.57149.11149.11
EUR157.20149.71149.71
EUR156.59149.13149.13
EUR157.05149.57149.57
EUR155.89148.47148.47
EUR156.24148.80148.80
EUR157.29149.80149.80
EUR158.08150.55150.55
EUR156.40148.95148.95
EUR156.41148.96148.96
EUR156.26148.82148.82
EUR155.15147.76147.76
EUR154.82147.45147.45
EUR152.67145.40145.40
EUR149.44142.32142.32
EUR146.16139.20139.20
EUR147.63140.60140.60
EUR148.65141.57141.57
EUR150.68143.50143.50
EUR149.95142.81142.81
EUR146.80139.81139.81
EUR148.18141.12141.12
EUR148.32141.26141.26
EUR149.73142.60142.60
EUR149.99142.85142.85
EUR149.82142.69142.69
EUR149.54142.42142.42
EUR149.65142.52142.52
EUR147.85140.81140.81
EUR148.20141.14141.14
EUR148.38141.31141.31
EUR148.85141.76141.76
EUR150.94143.75143.75
EUR152.11144.87144.87
EUR151.65144.43144.43
EUR152.27145.02145.02
EUR152.60145.33145.33
EUR154.09146.75146.75
EUR154.39147.04147.04
EUR153.54146.23146.23
EUR153.58146.27146.27
EUR154.72147.35147.35
EUR154.86147.49147.49
EUR154.35147.00147.00
EUR153.55146.24146.24
EUR154.12146.78146.78
EUR153.04145.75145.75
EUR154.36147.01147.01
EUR156.01148.58148.58
EUR155.44148.04148.04
EUR153.88146.55146.55
EUR155.45148.05148.05
EUR156.48149.03149.03
EUR154.86147.49147.49
EUR155.46148.06148.06
EUR154.56147.20147.20
EUR152.97145.69145.69
EUR153.02145.73145.73
EUR153.73146.41146.41
EUR154.02146.69146.69
EUR153.05145.76145.76
EUR152.73145.46145.46
EUR154.31146.96146.96
EUR155.79148.37148.37
EUR155.85148.43148.43
EUR156.15148.71148.71
EUR156.83149.36149.36
EUR156.48149.03149.03
EUR155.35147.95147.95
EUR156.57149.11149.11
EUR156.46149.01149.01
EUR156.39148.94148.94
EUR156.93149.46149.46
EUR158.22150.69150.69
EUR158.60151.05151.05
EUR158.40150.86150.86
EUR158.38150.84150.84
EUR159.54151.94151.94
EUR161.06153.39153.39
EUR161.54153.85153.85
EUR162.45154.71154.71
EUR162.11154.39154.39
EUR161.15153.48153.48
EUR161.37153.69153.69
EUR161.14153.47153.47
EUR160.90153.24153.24
EUR161.31153.63153.63
EUR161.58153.89153.89
EUR161.29153.61153.61
EUR161.20153.52153.52
EUR160.47152.83152.83
EUR160.77153.11153.11
EUR162.60154.86154.86
EUR162.82155.07155.07
EUR163.52155.73155.73
EUR163.66155.87155.87
EUR163.04155.28155.28
EUR162.86155.10155.10
EUR161.15153.48153.48
EUR160.44152.80152.80
EUR160.92153.26153.26
EUR161.71154.01154.01
EUR162.67154.92154.92
EUR161.72154.02154.02
EUR162.24154.51154.51
EUR162.98155.22155.22
EUR163.30155.52155.52
EUR163.98156.17156.17
EUR165.60157.71157.71
EUR166.25158.33158.33
EUR166.29158.37158.37
EUR166.96159.01159.01
EUR167.93159.93159.93
EUR167.59159.61159.61
EUR167.07159.11159.11
EUR166.28158.36158.36
EUR168.46160.44160.44
EUR166.25158.33158.33
EUR167.23159.27159.27
EUR167.64159.66159.66
EUR169.42161.35161.35
EUR171.01162.87162.87
EUR171.47163.30163.30
EUR172.21164.01164.01
EUR171.82163.64163.64
EUR171.49163.32163.32
EUR171.82163.64163.64
EUR172.28164.08164.08
EUR171.08162.93162.93
EUR170.48162.36162.36
EUR170.65162.52162.52
EUR170.71162.58162.58
EUR169.76161.68161.68
EUR167.90159.90159.90
EUR169.58161.50161.50
EUR167.88159.89159.89
EUR166.69158.75158.75
EUR163.60155.81155.81
EUR166.98159.03159.03
EUR169.85161.76161.76
EUR170.86162.72162.72
EUR170.81162.68162.68
EUR169.61161.53161.53
EUR171.22163.07163.07
EUR172.77164.54164.54
EUR174.30166.00166.00
EUR174.44166.13166.13
EUR174.58166.27166.27
EUR174.07165.78165.78
EUR174.48166.17166.17
EUR174.99166.66166.66
EUR173.37165.11165.11
EUR170.46162.34162.34
EUR167.79159.80159.80
EUR165.29157.42157.42
EUR164.46156.63156.63
EUR158.04150.51150.51
EUR157.95150.43150.43
EUR160.51152.87152.87
EUR159.56151.96151.96
EUR162.99155.23155.23
EUR157.71150.20150.20
EUR150.60143.43143.43
EUR146.42139.45139.45
EUR149.90142.76142.76
EUR142.00135.24135.24
EUR138.24131.66131.66
EUR136.99130.47130.47
EUR130.65124.43124.43
EUR131.12124.88124.88
EUR127.06121.01121.01
EUR132.03125.74125.74
EUR127.56121.49121.49
EUR125.77119.78119.78
EUR133.71127.34127.34
EUR137.05130.52130.52
EUR138.39131.80131.80
EUR132.50126.19126.19
EUR136.04129.56129.56
EUR135.19128.75128.75
EUR133.19126.85126.85
EUR134.54128.13128.13
EUR133.48127.12127.12
EUR139.44132.80132.80
EUR140.05133.38133.38
EUR141.61134.87134.87
EUR140.73134.03134.03
EUR141.13134.41134.41
EUR141.39134.66134.66
EUR144.45137.57137.57
EUR144.99138.09138.09
EUR143.90137.05137.05
EUR142.25135.48135.48
EUR145.16138.25138.25
EUR143.73136.89136.89
EUR142.20135.43135.43
EUR144.25137.38137.38
EUR145.72138.78138.78
EUR149.23142.12142.12
EUR142.67135.88135.88
EUR142.60135.81135.81
EUR145.69138.75138.75
EUR146.94139.94139.94
EUR147.76140.72140.72
EUR149.49142.37142.37
EUR149.28142.17142.17
EUR147.99140.94140.94
EUR146.57139.59139.59
EUR146.43139.46139.46
EUR146.02139.07139.07
EUR148.79141.70141.70
EUR149.39142.28142.28
EUR148.09141.04141.04
EUR148.29141.23141.23
EUR149.30142.19142.19
EUR150.62143.45143.45
EUR151.32144.11144.11
EUR150.16143.01143.01
EUR154.44147.09147.09
EUR156.91149.44149.44
EUR158.57151.02151.02
EUR156.24148.80148.80
EUR158.53150.98150.98
EUR159.56151.96151.96
EUR158.70151.14151.14
EUR158.39150.85150.85
EUR156.02148.59148.59
EUR156.47149.02149.02
EUR157.91150.39150.39
EUR159.84152.23152.23
EUR161.94154.23154.23
EUR162.09154.37154.37
EUR163.03155.27155.27
EUR165.20157.33157.33
EUR163.65155.86155.86
EUR163.93156.12156.12
EUR162.25154.52154.52
EUR163.47155.69155.69
EUR164.04156.23156.23
EUR166.18158.27158.27
EUR169.12161.07161.07
EUR169.26161.20161.20
EUR170.82162.69162.69
EUR171.37163.21163.21
EUR174.84166.51166.51
EUR175.31166.96166.96
EUR174.14165.85165.85
EUR170.58162.46162.46
EUR170.44162.32162.32
EUR169.22161.16161.16
EUR169.33161.27161.27
EUR169.24161.18161.18
EUR174.78166.46166.46
EUR172.48164.27164.27
EUR172.86164.63164.63
EUR169.28161.22161.22
EUR168.47160.45160.45
EUR173.55165.29165.29
EUR171.11162.96162.96
EUR172.57164.35164.35
EUR170.10162.00162.00
EUR170.86162.72162.72
EUR173.91165.63165.63
EUR174.23165.93165.93
EUR175.64167.28167.28
EUR174.26165.96165.96
EUR172.28164.08164.08
EUR171.83163.65163.65
EUR172.04163.85163.85
EUR172.47164.26164.26
EUR173.07164.83164.83
EUR172.31164.10164.10
EUR174.00165.71165.71
EUR174.13165.84165.84
EUR174.64166.32166.32
EUR175.83167.46167.46
EUR179.28170.74170.74
EUR180.25171.67171.67
EUR182.49173.80173.80
EUR184.15175.38175.38
EUR182.22173.54173.54
EUR181.47172.83172.83
EUR180.41171.82171.82
EUR185.18176.36176.36
EUR184.84176.04176.04
EUR179.67171.11171.11
EUR177.36168.91168.91
EUR177.58169.12169.12
EUR174.96166.63166.63
EUR175.86167.49167.49
EUR175.83167.46167.46
EUR176.44168.04168.04
EUR178.06169.58169.58
EUR179.87171.30171.30
EUR178.25169.76169.76
EUR177.15168.71168.71
EUR175.54167.18167.18
EUR175.49167.13167.13
EUR177.62169.16169.16
EUR174.64166.32166.32
EUR175.40167.05167.05
EUR177.01168.58168.58
EUR177.65169.19169.19
EUR177.91169.44169.44
EUR179.01170.49170.49
EUR180.53171.93171.93
EUR180.69172.09172.09
EUR183.23174.50174.50
EUR184.57175.78175.78
EUR186.94178.04178.04
EUR187.70178.76178.76
EUR189.58180.55180.55
EUR190.75181.67181.67
EUR192.86183.68183.68
EUR189.51180.49180.49
EUR190.10181.05181.05
EUR190.14181.09181.09
EUR189.69180.66180.66
EUR190.49181.42181.42
EUR189.80180.76180.76
EUR188.21179.25179.25
EUR189.16180.15180.15
EUR188.67179.69179.69
EUR190.24181.18181.18
EUR188.13179.17179.17
EUR188.09179.13179.13
EUR188.09179.13179.13
EUR189.60180.57180.57
EUR189.87180.83180.83
EUR196.00186.67186.67
EUR197.55188.14188.14
EUR199.32189.83189.83
EUR196.92187.54187.54
EUR192.28183.12183.12
EUR195.42186.11186.11
EUR196.21186.87186.87
EUR197.64188.23188.23
EUR197.59188.18188.18
EUR197.20187.81187.81
EUR196.57187.21187.21
EUR198.80189.33189.33
EUR199.46189.96189.96
EUR200.35190.81190.81
EUR197.78188.36188.36
EUR199.58190.08190.08
EUR199.49189.99189.99
EUR197.09187.70187.70
EUR197.53188.12188.12
EUR196.42187.07187.07
EUR195.81186.49186.49
EUR196.63187.27187.27
EUR198.93189.46189.46
EUR199.20189.71189.71
EUR200.22190.69190.69
EUR198.93189.46189.46
EUR198.82189.35189.35
EUR197.53188.12188.12
EUR197.18187.79187.79
EUR198.99189.51189.51
EUR201.05191.48191.48
EUR200.28190.74190.74
EUR200.46190.91190.91
EUR198.88189.41189.41
EUR200.64191.09191.09
EUR197.37187.97187.97
EUR198.32188.88188.88
EUR201.75192.14192.14
EUR203.89194.18194.18
EUR204.27194.54194.54
EUR204.66194.91194.91
EUR203.09193.42193.42
EUR206.71196.87196.87
EUR209.37199.40199.40
EUR210.28200.27200.27
EUR210.50200.48200.48
EUR212.90202.76202.76
EUR214.50204.29204.29
EUR215.83205.55205.55
EUR217.50207.14207.14
EUR221.34210.80210.80
EUR222.55211.95211.95
EUR222.37211.78211.78
EUR224.68213.98213.98
EUR221.27210.73210.73
EUR218.46208.06208.06
EUR212.84202.70202.70
EUR214.71204.49204.49
EUR216.59206.28206.28
EUR222.60212.00212.00
EUR226.72215.92215.92
EUR226.56215.77215.77
EUR228.38217.50217.50
EUR229.49218.56218.56
EUR230.13219.17219.17
EUR233.07221.97221.97
EUR233.49222.37222.37
EUR235.66224.44224.44
EUR236.03224.79224.79
EUR236.39225.13225.13
EUR237.97226.64226.64
EUR233.57222.45222.45
EUR231.24220.23220.23
EUR229.40218.48218.48
EUR225.37214.64214.64
EUR222.09211.51211.51
EUR221.62211.07211.07
EUR214.42204.21204.21
EUR218.78208.36208.36
EUR221.49210.94210.94
EUR222.15211.57211.57
EUR217.41207.06207.06
EUR214.32204.11204.11
EUR212.35202.24202.24
EUR209.19199.23199.23
EUR214.10203.90203.90
EUR215.06204.82204.82
EUR217.46207.10207.10
EUR214.98204.74204.74
EUR215.99205.70205.70
EUR216.32206.02206.02
EUR216.71206.39206.39
EUR214.00203.81203.81
EUR212.93202.79202.79
EUR212.82202.69202.69
EUR210.99200.94200.94
EUR207.53197.65197.65
EUR210.39200.37200.37
EUR211.29201.23201.23
EUR212.23202.12202.12
EUR212.24202.13202.13
EUR216.23205.93205.93
EUR217.55207.19207.19
EUR216.55206.24206.24
EUR216.28205.98205.98
EUR216.80206.48206.48
EUR215.11204.87204.87
EUR213.89203.70203.70
EUR214.91204.68204.68
EUR214.29204.09204.09
EUR216.01205.72205.72
EUR215.22204.97204.97
EUR212.76202.63202.63
EUR210.83200.79200.79
EUR213.41203.25203.25
EUR214.88204.65204.65
EUR215.75205.48205.48
EUR218.09207.70207.70
EUR218.06207.68207.68
EUR218.31207.91207.91
EUR214.59204.37204.37
EUR213.59203.42203.42
EUR213.52203.35203.35
EUR211.79201.70201.70
EUR211.82201.73201.73
EUR210.42200.40200.40
EUR210.16200.15200.15
EUR205.56195.77195.77
EUR206.30196.48196.48
EUR201.64192.04192.04
EUR205.75195.95195.95
EUR205.65195.86195.86
EUR205.26195.49195.49
EUR205.11195.34195.34
EUR207.53197.65197.65
EUR208.85198.90198.90
EUR210.44200.42200.42
EUR210.85200.81200.81
EUR210.82200.78200.78
EUR213.29203.13203.13
EUR214.40204.19204.19
EUR214.55204.33204.33
EUR214.12203.92203.92
EUR213.18203.03203.03
EUR212.95202.81202.81
EUR211.90201.81201.81
EUR211.12201.07201.07
EUR212.27202.16202.16
EUR213.43203.27203.27
EUR214.35204.14204.14
EUR214.35204.14204.14
EUR212.70202.57202.57
EUR214.66204.44204.44
EUR216.48206.17206.17
EUR215.72205.45205.45
EUR215.22204.97204.97
EUR217.29206.94206.94
EUR220.49209.99209.99
EUR220.51210.01210.01
EUR220.56210.06210.06
EUR221.20210.67210.67
EUR220.64210.13210.13
EUR217.94207.56207.56
EUR216.80206.48206.48
EUR216.80206.48206.48
EUR216.80206.48206.48
EUR213.79203.61203.61
EUR212.74202.61202.61
EUR214.43204.22204.22
EUR217.27206.92206.92
EUR219.18208.74208.74
EUR219.41208.96208.96
EUR218.70208.29208.29
EUR215.93205.65205.65
EUR213.85203.67203.67
EUR214.96204.72204.72
EUR217.75207.38207.38
EUR216.88206.55206.55
EUR212.36202.25202.25
EUR206.00196.19196.19
EUR205.30195.52195.52
EUR209.60199.62199.62
EUR208.13198.22198.22
EUR207.80197.90197.90
EUR208.67198.73198.73
EUR210.71200.68200.68
EUR211.04200.99200.99
EUR213.52203.35203.35
EUR214.70204.48204.48
EUR217.58207.22207.22
EUR217.18206.84206.84
EUR216.23205.93205.93
EUR216.00205.71205.71
EUR214.73204.50204.50
EUR211.87201.78201.78
EUR212.07201.97201.97
EUR211.03200.98200.98
EUR208.46198.53198.53
EUR208.85198.90198.90
EUR213.57203.40203.40
EUR215.03204.79204.79
EUR214.59204.37204.37
EUR214.18203.98203.98
EUR215.30205.05205.05
EUR217.30206.95206.95
EUR218.00207.62207.62
EUR219.18208.74208.74
EUR217.86207.49207.49
EUR220.55210.05210.05
EUR221.48210.93210.93
EUR221.37210.83210.83
EUR217.57207.21207.21
EUR218.37207.97207.97
EUR218.02207.64207.64
EUR216.95206.62206.62
EUR215.40205.14205.14
EUR215.57205.30205.30
EUR216.98206.65206.65
EUR215.28205.03205.03
EUR212.93202.79202.79
EUR213.38203.22203.22
EUR216.18205.89205.89
EUR217.14206.80206.80
EUR217.81207.44207.44
EUR216.01205.72205.72
EUR212.13202.03202.03
EUR212.43202.31202.31
EUR212.09201.99201.99
EUR211.11201.06201.06
EUR208.82198.88198.88
EUR209.80199.81199.81
EUR211.88201.79201.79
EUR214.02203.83203.83
EUR214.04203.85203.85
EUR211.62201.54201.54
EUR212.73202.60202.60
EUR214.35204.14204.14
EUR216.64206.32206.32
EUR218.54208.13208.13
EUR219.43208.98208.98
EUR221.64211.09211.09
EUR220.11209.63209.63
EUR221.12210.59210.59
EUR220.15209.67209.67
EUR221.32210.78210.78
EUR219.21208.77208.77
EUR217.20206.86206.86
EUR215.95205.67205.67
EUR216.78206.46206.46
EUR217.01206.68206.68
EUR219.30208.86208.86
EUR220.31209.82209.82
EUR220.72210.21210.21
EUR221.10210.57210.57
EUR222.03211.46211.46
EUR221.29210.75210.75
EUR222.69212.09212.09
EUR224.40213.71213.71
EUR226.87216.07216.07
EUR227.10216.29216.29
EUR223.22212.59212.59
EUR221.92211.35211.35
EUR221.50210.95210.95
EUR218.01207.63207.63
EUR217.19206.85206.85
EUR218.16207.77207.77
EUR214.16203.96203.96
EUR211.30201.24201.24
EUR209.16199.20199.20
EUR209.10199.14199.14
EUR208.91198.96198.96
EUR209.11199.15199.15
EUR204.68194.93194.93
EUR208.08198.17198.17
EUR212.06201.96201.96
EUR214.08203.89203.89
EUR210.74200.70200.70
EUR210.67200.64200.64
EUR208.18198.27198.27
EUR206.14196.32196.32
EUR206.72196.88196.88
EUR202.97193.30193.30
EUR201.75192.14192.14
EUR200.91191.34191.34
EUR204.74194.99194.99
EUR206.02196.21196.21
EUR207.13197.27197.27
EUR208.14198.23198.23
EUR207.51197.63197.63
EUR206.99197.13197.13
EUR208.41198.49198.49
EUR209.28199.31199.31
EUR206.00196.19196.19
EUR202.07192.45192.45
EUR202.97193.30193.30
EUR201.27191.69191.69
EUR200.10190.57190.57
EUR205.01195.25195.25
EUR204.53194.79194.79
EUR202.58192.93192.93
EUR201.75192.14192.14
EUR201.52191.92191.92
EUR199.30189.81189.81
EUR201.33191.74191.74
EUR201.45191.86191.86
EUR196.85187.48187.48
EUR195.13185.84185.84
EUR193.68184.46184.46
EUR192.31183.15183.15
EUR191.19182.09182.09
EUR194.63185.36185.36
EUR197.51188.10188.10
EUR198.74189.28189.28
EUR197.42188.02188.02
EUR193.61184.39184.39
EUR193.84184.61184.61
EUR192.51183.34183.34
EUR195.08185.79185.79
EUR198.33188.89188.89
EUR196.30186.95186.95
EUR192.85183.67183.67
EUR192.81183.63183.63
EUR196.86187.49187.49
EUR197.36187.96187.96
EUR192.60183.43183.43
EUR190.39181.32181.32
EUR188.29179.32179.32
EUR186.99178.09178.09
EUR183.73174.98174.98
EUR186.48177.60177.60
EUR188.51179.53179.53
EUR186.63177.74177.74
EUR185.28176.46176.46
EUR185.76176.91176.91
EUR182.54173.85173.85
EUR177.37168.92168.92
EUR172.81164.58164.58
EUR172.27164.07164.07
EUR176.54168.13168.13
EUR174.54166.23166.23
EUR169.88161.79161.79
EUR164.56156.72156.72
EUR173.25165.00165.00
EUR183.52174.78174.78
EUR183.17174.45174.45
EUR184.37175.59175.59
EUR186.19177.32177.32
EUR188.95179.95179.95
EUR187.19178.28178.28
EUR185.16176.34176.34
EUR185.60176.76176.76
EUR187.26178.34178.34
EUR189.69180.66180.66
EUR187.18178.27178.27
EUR187.36178.44178.44
EUR192.05182.90182.90
EUR194.32185.07185.07
EUR190.47181.40181.40
EUR186.75177.86177.86
EUR186.43177.55177.55
EUR182.94174.23174.23
EUR183.25174.52174.52
EUR182.84174.13174.13
EUR183.13174.41174.41
EUR179.13170.60170.60
EUR180.26171.68171.68
EUR178.04169.56169.56
EUR177.02168.59168.59
EUR173.41165.15165.15
EUR176.17167.78167.78
EUR174.58166.27166.27
EUR176.82168.40168.40
EUR182.01173.34173.34
EUR180.18171.60171.60
EUR180.93172.31172.31
EUR178.26169.77169.77
EUR178.65170.14170.14
EUR171.96163.77163.77
EUR164.44156.61156.61
EUR166.07158.16158.16
EUR164.04156.23156.23
EUR166.98159.03159.03
EUR170.06161.96161.96
EUR170.98162.84162.84
EUR173.33165.08165.08

Opportunities

  • These funds aim to exploit growth opportunities on global equity markets.
  • Investing in assets denominated in a foreign currency can have a positive impact on unit values as a result of exchange rate movements.
  • Derivatives can be used to increase potential yields.

Risks

  • Equity markets and thus also unit values can experience severe fluctuations in response to market developments. The result can be a fall in the trading price.
  • Investing in assets denominated in a foreign currency can have a negative impact on unit values as a result of exchange rate movements.
  • 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).
  • Investments in emerging markets – in addition to the specific risks of the asset class itself – are particularly exposed to liquidity risk and general market risk.
  • In emerging markets the legal and regulatory environment as well as accounting, auditing and reporting standards may also vary considerably from the levels and standards that are otherwise common internationally.
  • Higher custody risk.
  • There is a risk from the possible investment in Chinese A-Shares, including possible additional clearing and settlement risks, as well as legal, operational, and risks in the form of limitations to investment opportunities.

Morningstar Rating™ overall: © (2022) Morningstar Inc. All rights reserved. The information contained herein: (1) is protected by copyright for Morningstar and / or its content providers; (2) may not be copied or distributed, and (3) is not guaranteed with regard to its accuracy, completeness, or timeliness. Neither Morningstar nor its content providers are liable for any damages or losses that may result from the use of this information. Ratings refer to the previous month. Status: 

Information regarding limited distribution


The English translation is only for the purpose of convenience.

The use of the distribution partners page is only permitted for distribution partners. The information provided in this area will be treated confidentially and is only intended for authorised third parties. The obligation to maintain confidentiality does not apply to information that is already generally accessible.

The information contained in the website from Flossbach von Storch AG is intended solely for German investors whose residence, registered office or centre of administration is in Germany. The information contained herein is not intended for publication, use or distribution by any person in a country in which a fund is not authorised for distribution. In particular, the shares of this fund may therefore not be offered for sale or sold within the United States of America (USA), to or on behalf of US citizens, or to or on behalf of US persons residing in the USA. The content shown is for informational purposes only. In particular, it does not constitute an offer to sell, purchase or subscribe to other assets. In the event that a person, whose residence or office is located abroad, is able to access the website of Flossbach von Storch AG and the information contained within, Flossbach von Storch AG does not accept any guarantee or liability that the information contained complies with the relevant applicable legal provisions of the respective country.