:HVHQWOLFKH$QOHJHULQIRUPDWLRQHQ +DVSD6XEVWDQ] *HJHQVWDQGGLHVHV'RNXPHQWVVLQGZHVHQWOLFKH,QIRUPDWLRQHQIUGHQ$QOHJHUEHUGLHVHQ)RQGV (VKDQGHOWVLFKQLFKWXP:HUEHPDWHULDO'LHVH,QIRUPDWLRQHQVLQGJHVHW]OLFKYRUJHVFKULHEHQXP ,KQHQGLH:HVHQVDUWGLHVHV)RQGVXQGGLH5LVLNHQHLQHU$QODJHLQLKQ]XHUOlXWHUQ:LUUDWHQ,KQHQ ]XU/HNWUHGLHVHV'RNXPHQWVVRGDVV6LHHLQHIXQGLHUWH$QODJHHQWVFKHLGXQJWUHIIHQN|QQHQ (LQ7HLOIRQGVGHV8PEUHOOD+DVSD:.1,6,1$038/8 YHUZDOWHWYRQ,QWHUQDWLRQDO)XQG0DQDJHPHQW6$'HND*UXSSH ,QYHVWPHQWIRQGV$NWLHQIRQGV(XURSD =LHOHXQG$QODJHSROLWLN 'DV$QODJH]LHOGLHVHV,QYHVWPHQWIRQGVLVWPLWWHOELV %UDQFKHQGLHOXNUDWLYVWHQ8QWHUQHKPHQLGHQWLIL]LHUW ODQJIULVWLJHU.DSLWDO]XZDFKVGXUFKHLQHSRVLWLYH(QWZLFNOXQJ GHU.XUVHGHULP6RQGHUYHUP|JHQHQWKDOWHQHQ 9HUP|JHQVZHUWH :HLWHUKLQN|QQHQ*HVFKlIWHLQYRQHLQHP%DVLVZHUW 'DV)RQGVPDQDJHPHQWLQYHVWLHUWLQHXURSlLVFKH 7HLOIRQGVJUXQGVlW]OLFKDXVJHVFKWWHW 8QWHUQHKPHQVDNWLHQXQDEKlQJLJYRQ$NWLHQLQGL]HVGKGHU UHJLRQDOHXQGEUDQFKHQRULHQWLHUWH)RNXVNDQQVLFKPLWGHP =LHOlQGHUQIOH[LEHO$QODJHFKDQFHQZDKU]XQHKPHQ,QHLQHP PHKUVFKLFKWLJHQ3UR]HVVZHUGHQYRP$QODJHEHUDWHU +DPEXUJHU6SDUNDVVHGLHXQWHUVFKLHGOLFKHQ%UDQFKHQ KLQVLFKWOLFKLKUHU$WWUDNWLYLWlWXQWHUVXFKWXQGLQQHUKDOEGHU DEJHOHLWHWHQ)LQDQ]LQVWUXPHQWHQ'HULYDWHJHWlWLJWZHUGHQ 'LH(UWUlJHHLQHV*HVFKlIWVMDKUHVZHUGHQEHLGLHVHP 'LH$QOHJHUN|QQHQE|UVHQWlJOLFKGLH5FNQDKPHGHU $QWHLOHYHUODQJHQ'LH9HUZDOWXQJVJHVHOOVFKDIWNDQQGLH 5FNQDKPHDXVVHW]HQZHQQDXHUJHZ|KQOLFKH8PVWlQGH GLHV]XU:DKUXQJGHU$QOHJHULQWHUHVVHQHUIRUGHUOLFK HUVFKHLQHQODVVHQ 5LVLNRXQG(UWUDJVSURILO Å 7\SLVFKHUZHLVHJHULQJHUH5HQGLWH Å *HULQJHUHV5LVLNR 7\SLVFKHUZHLVHK|KHUH5HQGLWH Æ +|KHUHV5LVLNR Æ 'HU,QGLNDWRUJLEWGLH6FKZDQNXQJGHV)RQGVDQWHLOSUHLVHVLQ .DWHJRULHQYRQELVDXIGHU%DVLVGHU(QWZLFNOXQJLQGHU 9HUJDQJHQKHLWDQ(UEHVFKUHLEWGDV9HUKlOWQLVGHU&KDQFHQ DXI:HUWVWHLJHUXQJHQ]XP5LVLNRYRQ:HUWUFNJlQJHQGDV GXUFK.XUVVFKZDQNXQJHQGHULQYHVWLHUWHQ $QODJHJHJHQVWlQGHZLHDXFKJHJHEHQHQIDOOVGXUFK :lKUXQJVVFKZDQNXQJHQRGHUHLQH)RNXVVLHUXQJGHULP )RQGVHQWKDOWHQHQ$QODJHQEHHLQIOXVVWZHUGHQNDQQ 'LH(LQVWXIXQJLVWNHLQYHUOlVVOLFKHU,QGLNDWRUIUGLHNQIWLJH (QWZLFNOXQJXQGNDQQVLFKLP/DXIHGHU=HLWlQGHUQ(LQH (LQVWXIXQJLQEHGHXWHWQLFKWGDVVHVVLFKXPHLQH ULVLNRIUHLH$QODJHKDQGHOW'LH(LQVWXIXQJVWHOOWDXFKNHLQ=LHO XQGNHLQH*DUDQWLHGDU 'HU)RQGVLVWLQHLQJHVWXIWZHLOVHLQKLVWRULVFKHU$QWHLOSUHLV DOV$NWLHQIRQGVPLW$QODJHVFKZHUSXQNWLQHXURSlLVFKHQ 8QWHUQHKPHQVWlUNHUVFKZDQNWHXQG9HUOXVWULVLNHQXQG (UWUDJVFKDQFHQK|KHUVLQG )ROJHQGH5LVLNHQKDEHQDXIGLH(LQVWXIXQJNHLQHQ(LQIOXVV N|QQHQDEHUWURW]GHPYRQ%HGHXWXQJVHLQ 'XUFKGHQ$XVIDOOHLQHV$XVVWHOOHUVHLQHVGHU )LQDQ]LQVWUXPHQWH'HULYDWHLP)RQGVNDQQGLH%HWHLOLJXQJ DQGHU(QWZLFNOXQJGHV%DVLVZHUWVDXVEOHLEHQRGHUYHUULQJHUW ZHUGHQ 'HU)RQGVNDQQGXUFK)HKOHUGHU9HUZDKUVWHOOHGHU 9HUP|JHQVJHJHQVWlQGHJHVFKlGLJWZHUGHQ .RVWHQ $XVGHQ*HEKUHQXQGVRQVWLJHQ.RVWHQZLUGGLHODXIHQGH9HUZDOWXQJXQG9HUZDKUXQJGHV)RQGVYHUP|JHQVVRZLHGHU9HUWULHE GHU)RQGVDQWHLOHILQDQ]LHUW$QIDOOHQGH.RVWHQYHUULQJHUQGLH(UWUDJVFKDQFHQGHV$QOHJHUV (LQPDOLJH.RVWHQYRUXQGQDFKGHU$QODJH $XVJDEHDXIXQG 5FNQDKPHDEVFKOlJH 'DEHLKDQGHOWHVVLFKXPGHQ+|FKVWVDW]GHUYRQ,KUHP$QODJHEHWUDJEHL.DXIE]Z9HUNDXIDEJH]RJHQZLUGXQGVRPLW,KUH 5HQGLWHPLQGHUW,P(LQ]HOIDOON|QQHQGLHVH.RVWHQQLHGULJHUDXVIDOOHQ'HQWDWVlFKOLFKIU6LHJHOWHQGHQ%HWUDJN|QQHQ6LH MHGHU]HLWLQ,KUHU6SDUNDVVHHUIUDJHQ .RVWHQGLHYRP)RQGVLP/DXIHGHV-DKUHVDEJH]RJHQZHUGHQ /DXIHQGH.RVWHQ 'LHKLHUDQJHJHEHQHQODXIHQGHQ.RVWHQILHOHQLP*HVFKlIWVMDKUGHV)RQGVDQGDVLP1RYHPEHUHQGHWH6LHN|QQHQYRQ -DKU]X-DKUVFKZDQNHQXQGHQWKDOWHQZHGHU.RVWHQIUGHQ$QXQG9HUNDXIYRQ:HUWSDSLHUHQ7UDQVDNWLRQVNRVWHQQRFKJJI DQIDOOHQGHDQGLH:HUWHQWZLFNOXQJGHV)RQGVJHEXQGHQH*HEKUHQ6LHEHLQKDOWHQMHGRFKDOOH.RVWHQGLHEHLGHU$QODJHLQ DQGHUH)RQGVDQIDOOHQVRIHUQGLHVHHLQHQZHVHQWOLFKHQ$QWHLODP)RQGVYHUP|JHQDXVPDFKHQ]%EHL'DFKIRQGV .RVWHQGLHGHU)RQGVXQWHUEHVWLPPWHQ8PVWlQGHQ]XWUDJHQKDW NHLQH 6HLWHYRQ :HVHQWOLFKH$QOHJHULQIRUPDWLRQHQ +DVSD6XEVWDQ] :HUWHQWZLFNOXQJLQGHU9HUJDQJHQKHLW 'LH:HUWHQWZLFNOXQJLQGHU9HUJDQJHQKHLWLVWNHLQH*DUDQWLH IUGLHNQIWLJH(QWZLFNOXQJ %HLGHU%HUHFKQXQJZXUGHQVlPWOLFKH.RVWHQXQG*HEKUHQ PLW$XVQDKPHGHV$XVJDEHDXIVFKODJVXQGJHJHEHQHQIDOOV DQWHLOLJDQIDOOHQGHU.RVWHQGHU9HUZDKUXQJLP.XQGHQGHSRW DEJH]RJHQ 'LH'DUVWHOOXQJGHU:HUWHQWZLFNOXQJGHU.DOHQGHUMDKUH EDVLHUWDXIGHU)RQGVZlKUXQJ(85 'LHVHU7HLOIRQGVZXUGHLP-DKUDXIJHOHJW 3UDNWLVFKH,QIRUPDWLRQHQ $QWHLONODVVHQNHLQH 'LH$XVJDEHXQG5FNQDKPHSUHLVHZHUGHQ EHZHUWXQJVWlJOLFKLQGHU%|UVHQ]HLWXQJYHU|IIHQWOLFKW -HGHU7HLOIRQGVGHV8PEUHOODIRQGV+DVSDLVWUHFKWOLFK VHOEVWlQGLJVRGDVVGHU$QOHJHUGLHVHV7HLOIRQGVQLFKWIUGLH 9HUELQGOLFKNHLWHQHLQHVDQGHUHQ7HLOIRQGVGHV8PEUHOODIRQGV KDIWHW 9HUZDKUVWHOOH'HND%DQN'HXWVFKH*LUR]HQWUDOH /X[HPERXUJ6$ 9HUZDOWXQJVJHVHOOVFKDIW,QWHUQDWLRQDO)XQG0DQDJHPHQW 6$ UXHGHV/DERXUV/X[HPERXUJ 'HU)RQGVXQWHUOLHJWGHP/X[HPEXUJHU5HFKW'LHVNDQQ $XVZLUNXQJHQGDUDXIKDEHQZLH6LHEH]JOLFK,KUHU (LQNQIWHDXVGHP)RQGVEHVWHXHUWZHUGHQ'LH %HVWHXHUXQJGHU(UWUlJHDXVGHQ)RQGVDQWHLOHQULFKWHWVLFK QDFKGHQ6WHXHUYRUVFKULIWHQ,KUHV+HLPDWODQGHVGHQHQ6LH DOVGRUWDQVlVVLJHU$QWHLOLQKDEHUXQWHUOLHJHQ 'LHVHU)RQGVLVWLQ/X[HPEXUJ]XJHODVVHQXQGZLUGGXUFK GLH&RPPLVVLRQGH6XUYHLOODQFHGX6HFWHXU)LQDQFLHU&66) UHJXOLHUW 'HU9HUNDXIVSURVSHNWHQWKlOWZHLWHUIKUHQGH$QJDEHQ LQVEHVRQGHUHHLQHGHWDLOOLHUWH%HVFKUHLEXQJGHU5LVLNHQXQG .RVWHQGLHPLWGHU$QODJHLQGLHVHP)RQGVLQ9HUELQGXQJ VWHKHQ'LH:HVHQWOLFKHQ$QOHJHULQIRUPDWLRQHQVROOWHQ JHJHEHQHQIDOOVLQ9HUELQGXQJPLWGHP9HUNDXIVSURVSHNW YHUZHQGHWZHUGHQ ,QIRUPDWLRQHQ]XUDNWXHOOHQ9HUJWXQJVSROLWLNGHU 9HUZDOWXQJVJHVHOOVFKDIWGHQ%HUHFKQXQJVPHWKRGHQIU 9HUJWXQJHQXQG=XZHQGXQJHQVLQGLP-DKUHVEHULFKWGHV )RQGVXQGRGHUDXIKWWSVZZZGHNDGHGHND JUXSSHLQYHVWRUUHODWLRQVSXEOLNDWLRQHQYHUJXHWXQJVEHULFKW YHU|IIHQWOLFKW 'HU9HUNDXIVSURVSHNWPLWGHP9HUZDOWXQJVUHJOHPHQWGLH :HVHQWOLFKHQ$QOHJHULQIRUPDWLRQHQXQGGLH-DKUHVXQG +DOEMDKUHVEHULFKWHLQGHXWVFKHU6SUDFKHVLQGMHGHU]HLW NRVWHQORVEHLGHU9HUZDOWXQJVJHVHOOVFKDIWMHGHU=DKOXQG 9HUWULHEVVWHOOHXQGEHLGHU'HND%DQN'HXWVFKH*LUR]HQWUDOH HUKlOWOLFK 6RQVWLJH,QIRUPDWLRQHQIUGLH$QOHJHUZHUGHQLQGHU %|UVHQ=HLWXQJGLHLQ)UDQNIXUWDP0DLQHUVFKHLQWEHNDQQW JHPDFKW ,QWHUQDWLRQDO)XQG0DQDJHPHQW6$NDQQOHGLJOLFKDXIGHU*UXQGODJHHLQHULQGLHVHP'RNXPHQWHQWKDOWHQHQ(UNOlUXQJ KDIWEDUJHPDFKWZHUGHQGLHLUUHIKUHQGXQULFKWLJRGHUQLFKWPLWGHQHLQVFKOlJLJHQ7HLOHQGHV9HUNDXIVSURVSHNWHVYHUHLQEDU LVW'LHVHZHVHQWOLFKHQ,QIRUPDWLRQHQIUGHQ$QOHJHUVLQG]XWUHIIHQGXQGHQWVSUHFKHQGHP6WDQGYRP 6HLWHYRQ /82*$:
© Copyright 2024 ExpyDoc
