The prices of real estate funds have stabilized, and some are now even being bought more often than others, as traders report. Tech funds are also really popular. Surprisingly quiet: trading in gold mining funds.
2 May 2024 FRANKFURT (Börse Frankfurt). Technology funds continue to be among the favorites in fund trading - despite small price setbacks. However, with the end of the rally on the stock market, trading is somewhat quieter overall. "After brisk trading in the previous months, turnover has fallen," reports fund trader Ivo Orlemann from ICF Bank. "There has been less activity since the beginning of April," explains Anja Deisenroth-Boström from Baader Bank Fonds. "We are mainly seeing purchases, but occasionally also sales," explains Orlemann with regard to tech funds. Favorites are Fidelity Global Technology (LU0099574567), Franklin Technology (LU0260870158) and BlackRock Global Funds World Technology (LU0171310443). The three funds have performed quite differently: while the BlackRock fund has scored 13% since the beginning of the year (Fidelity: 5.5%, Franklin: 9.3%), the Fidelity fund is ahead with 10.6% over the three-year period (Franklin: 5%, BlackRock: 3.6%).
Asia funds: no clear picture Deisenroth-Boström predominantly reported losses in trading with broadly diversified equity funds - as is usual on the stock market. Examples: the Alken Fund European Opportunities (LU0235308482), the Comgest Growth Greater Europe Opportinities (IE00B4ZJ4188), the CT European Smaller Companies (LU1864952335) and the internationally investing DWS Top Dividende (DE0009848119). She registered inflows for the Comgest Growth Europe (IE0004766675). Despite the recent rise in prices on China's stock exchanges, trading in funds with Asian stocks is lacking. The trader sees purchases for Allianz Indonesia Equity (LU0348744763), sales for First State Greater China (GB0033874107) and Schroder ISF Emerging Asia (LU0181495838). Purchases in some real estate funds Real estate funds continue to be the main revenue drivers at ICF. However, Orlemann cannot identify a clear direction. "There are a lot of purchases for some funds," reports the trader with a view to UniImmo Global (DE0009805556), UniImmo Europa (DE0009805515) and Deka-ImmobilienNordamerika (DE000DK0LLA6). Both sides would be played in HausInvest (DE0009807016) and Deka-ImmobilienEuropa (DE0009809566).
Open-ended real estate funds: outflows, but stable liquidity ratios. Over the past 17 years, open-ended real estate funds have always recorded more inflows than outflows - this is now different, according to the fund analysis company Scope Fund Analysis. In the first two months of this year, there have already been net outflows of around 500 million euros. The trend is set to continue and will only reach its peak in the third quarter. In the current interest rate environment, open-ended real estate funds are becoming less attractive than higher-yielding investment alternatives, Scope explains. According to Scope, the majority of funds are in a position to service redeemed units from their cash holdings. However, real estate sales to raise liquidity are becoming more likely. "If funds are forced to sell more of their existing properties at a discount in the current market situation, there is a risk of negative effects on the fund unit price," it says. Fund managers would want to avoid this scenario at all costs. "However, it is becoming more likely for some funds due to increasing unit redemptions." Read more on
scopegroup.com
Money market funds continue to gain ground, gold mining funds in the shadows In addition, money market funds continue to be well received, such as the DWS Rendite Optima Four Seasons (LU0225880524), according to Deisenroth-Boström. According to Orlemann, mixed funds such as Flossbach von Storch Multiple Opportunities (LU0323578657) and - at a lower level - Carmignac Patrimoine (FR0010135103) are generating steady turnover. The ESG version of ARERO Der Weltfonds (LU2114851830) also remains popular, as Deisenroth-Boström reports. Although the gold price recently reached a new all-time high, there is not much going on in gold mining funds, as the Baader trader notes. She does not see any noticeable turnover, for example in the BlackRock Global Funds World Gold (LU0724618789). After all, it has gained 11 percent since the beginning of the year.
https://www.boerse-frankfurt.de/news/funds-tech-shares-number-one-topic
Comments