Despite the boom in tech stocks, "green" funds are currently doing particularly well in fund trading on the Frankfurt Stock Exchange. Traditional equity funds are also popular - preferably not from celebrities, as they are not doing well at all.
22 February 2024. FRANKFURT (Börse Frankfurt).
AI euphoria and ever new records on the stock markets are also stimulating fund trading. Ivo Orlemann from ICF Bank reports good turnover and mostly purchases. "However, there is also profit-taking at the high price level." Matthias Präger from Baader Bank is also seeing some turnover - especially in European and international equity funds. In contrast, there is hardly any activity in Asian and precious metal funds.
Orlemann cannot currently identify a clear trend - for example towards technology or biotech funds. In the ETF business, however, technology tracker ETFs are running like clockwork - traders are reporting "endless buying", for example for the iShares S&P 500 Information Technology (IE00B3WJKG14) and Xtrackers Artificial Intelligence & Big Data (IE00BGV5VN51).
"Green" funds with very different performance
"Sustainability funds are always doing well," explains Orlemann. He reports good sales for the DKB Nachhaltigkeitsfonds Klimaschutz (LU0117118124), ÖkoWorld ÖkoVision Classic (LU0061928585) and ÖkoWorld Klima (LU0301152442), for example. The buy side also currently predominates in Pictet-Clean Energy (LU0312383663). "However, there is a larger buy order behind it."
Both sides would be played by Erste WWF Stock Environment (AT0000705660) and Nordea-1 Climate and Environment (LU0348926287). The funds have performed very differently: While the DKB fund, for example, has achieved price gains of 6.2 percent per year over a three-year period, the Ökoworld funds have posted losses. However, they performed very well during the pandemic.
"Celebrity funds" perform poorly
As far as broadly diversified equity funds are concerned, Präger reports purchases for the LuxTopic Aktien Europa from DJE Investment by Jens Ehrhardt (LU0165251116) and the terrAssisi Aktien from Ampega Investment (DE0009847343). In addition to economic criteria, the latter also takes environmental and social criteria into account when selecting shares and - unusually - has the principles of the Franciscan order as an additional ethical filter.
On the other hand, the DWS Deutschland (DE0008490962), the FF European Growth from Fidelity (LU0048578792), the Dirk Müller Premium Aktien (DE000A111ZF1) and the Morgan Stanley INVF Global Opportunity (LU0552385295) are on the sell lists. The performance of the Dirk Müller fund, which was launched in 2015, continues to disappoint. Those who invested when the fund was launched are still sitting on losses. The 10XDNA - Disruptive Technologies (DE000DNA10X3) fund launched in 2021 by tech celebrity Frank Thelen, an investor in "Die Höhle der Löwen", has also only made losses so far.
Trading in Asian funds is rather quiet. "The Chinese New Year holidays also made themselves felt here," notes Präger. Sales dominated with low turnover (LU0217390573, LU0188438112).
Präger
Mining funds? No interest
Mining funds are currently attracting little attention. Präger reports outflows at a low level for BGF World Mining (LU0075056555), but also for Structured Solutions Next Generation Resources (LU0470205575), which focuses on commodities needed for the energy transition.
The most actively traded funds on the Frankfurt Stock Exchange in January were once again equity funds, followed by open-ended real estate funds and mixed funds. Money market and money market-related funds as well as bond funds did not play such a major role.
More information: here.
Difficult times for real estate funds
Real estate funds are still going strong. "These are our long runners," notes Orlemann. But times remain difficult for the funds. High interest rates are causing problems for the sector. From an investment perspective, there are also currently many attractive alternatives. Deka-ImmobilienMetropolen (DE000DK0TWX8) is currently being "sold off heavily", explains Orlemann, although its North American counterpart, Deka-ImmobilienNordamerika (DE000DK0LLA6), is being bought. HausInvest (DE0009807016) and Grundbesitz Europa (DE0009807008) were heavily traded on both sides.
by Anna-Maria Borse, 22 February 2024 © Deutsche Börse AG
Anna-Maria Borse is a financial and business editor specializing in the financial market/stock exchange and economic topics.
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