Frankfurt am Main, July 1 2015
Addresses the „new normal“ since the financial crisis
Targets low-volatility returns in all market environments
Dynamic asset allocation relies on the analysis of macroeconomic models and quantitative models that track volatility levels
To achieve this objective, the fund may invest in a broad range of asset classes that go beyond bonds and stocks and include, among others, commodities and currencies. As part of its risk management, the fund may also invest in long, short and option positions across all these asset classes.
“We are committed to offering investors a solution for the new market environment,” explains Julien Jensen, fund adviser and managing partner of KJL Capital. “A flexible asset allocation, innovative risk management, an investment process that is free of conflict of interests and an absolute return strategy are the cornerstones of our investment strategy – the balanced fund 2.0,” says Jensen.
“In the past, investors were able to reduce risks by simply combining different asset classes for instance via a balanced fund,” explains Constantin von Kageneck-Schlick, also a managing partner of KJL Capital. Now, however, massive market interventions by central banks and the resulting new market conditions severely challenge the traditional portfolio and risk management theory in entirely novel ways.
“Since correlations particularly between fixed income and equity markets are increasingly converging, it is highly doubtful whether the traditional portfolio diversification of for instance 70% bonds and 30% stocks can deal with the challenges of the new normal,” adds Kageneck-Schlick. And managing partner Markus Lemkis confirms: “This makes continual correlation analysis of various asset classes a crucial part of our investment process.”
Assets are allocated dynamically based particularly on the analysis of macroeconomic models and quantitative models that track volatility levels. This is complemented by fundamental valuation approaches and financial ratios, information about directors' dealings and open short selling positions to ensure sound decision making.
Fund: KJL Capital Absolute Return I UI
Fund initiator: KJL Capital GmbH, Frankfurt am Main
Fund adviser: BN & Partners Capital AG, Frankfurt office
Investment company: Universal-Investment Gesellschaft mbH, Frankfurt am Main
Custodian: Joh. Berenberg, Gossler & Co. KG, Hamburg
Fund category: Balanced fund
Fund currency: Euro (EUR)
WKN / ISIN: A14N8L / DE000A14N8L8
Unit type: Accumulation
Ongoing charges (estimate): Currently 1.5 % p.a.
Minimum initial investment: EUR 100,000
Initial charge: –
Performance fee: 10 % of the fund performance in excess of 5 % generated over the accounting period, if the NAV has reached a new 5 year high
WKN / ISIN: A14N8M / DE000A14N8M6
Unit type: Accumulation
Ongoing charges (estimate): Currently 2 % p.a.
Minimum initial investment: None
Initial charge: Up to 5 %
Performance fee: 15 % of the fund performance in excess of 5 % generated over the accounting period, if the NAV has reached a new 5 year high
Founded in 2015, KJL is an investment company with headquarters in Frankfurt am Main. The management team includes Constantin von Kageneck-Schlick, Julien Jensen and Markus Lemkis. The team combines long-standing experience across various areas of investment and private banking as well as asset management.
Together, they hold a 50 per cent share in the company and form its investment committee. The remaining shares are held by a middle-market entrepreneurial family that has also been invested in the fund as its anchor investor since inception.
The advisory board consists inter alia of Wolfgang Jensen, who served as managing director at the banking firm Sal. Oppenheim heading its capital market division. He was also responsible for its special transactions business and headed the firm‘s corporate lending front office for several years. Jensen is a fully qualified lawyer and works as an attorney.
Futher information can be found at www.kjl-capital.de