Deutsche's top 50 chartbuster
Deutsche Bank's Top 50 funds, launched in early July 1999, have put up an impres-sive showing in Mercer's Unit Trust tables for the three months to October 31.
Deutsche Bank's Top 50 funds, launched in early July 1999, have put up an impres-sive showing in Mercer's Unit Trust tables for the three months to October 31.
Leading the pack was Deutsche’s Top 50 US fund which, according to information sourced from Morningstar, topped the tables for US funds.
It grew by 8.6 per cent over the three month period, outperforming Fidelity Perpet-ual’s America fund and BT’s American growth fund.
In addition, Deutche’s Top 50 Asian and European funds were ranked second in their respective categories, while its Top 50 World fund snared fourth place.
Deutsche’s Top 50 Asia fund showed a 9.7 per cent return over the three month pe-riod and came second only to Jardine Fleming’s Pacific Equities fund’s 14.2 per cent rise.
The Top 50 Europe fund, with its 5.6 per cent return, was snapping close at the heels of INVESCO’s European growth fund, which grew by 6.5 per cent.
And, in the overseas shares category where there are 45 funds, Deutsche’s Top 50 World’s 9.7 per cent rise for the three months was beaten only by the Rothschild 5 Arrows global smaller companies fund (up a whopping 16.3 per cent), Dresdner RCM International Opportunities (+12.2 per cent) and ABN AMRO Global Equity (+9.8 per cent).
Top 50, includes a global fund as well as three regional funds. Each fund invests in what the investment manager, Deutsche Bank subsidiary DWS, regards as the 50 top stocks in its mandate.
Appointing DWS as the single investment manager is DFM's first departure from its multi-manager strategy, however director Sarah Brennan says it is not a change in di-rection.
"These funds are designed to complement multi-manager funds which have a slightly lower risk profile," she says.
Brennan says themed funds are already an established part of the financial services landscape in the US and Europe and she expects a warm reception to the funds in Australia.
When the Top 50 was launched in Germany last year, Deutsche reported inflows in the first month of nearly $1 billion.
"These funds are designed to take the mystique out of international investing. The un-derlying stocks and the concept behind each fund is clearly visible to investors," Brennan says.
Brennan says the fund is the result of a closer working relationship with other Deut-sche Bank subsidiaries.
"Deutsche is the biggest fund manager in the world and we are accessing one of the biggest investment teams in the world through DWS which has people on the ground in almost every country," she says.
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