Funds: “Decent“ turnover and growing interest in gold equity funds

Turnover in fund trading on the Börse Frankfurt is slowly but surely picking up again. While many profits are being realized in the equity fund segment, the majority of gold and US dollar money market funds are on the shopping list.

19 September 2024. FRANKFURT (Börse Frankfurt).There was a bit more activity again,’ says Matthias Präger, declaring the summer break in fund trading officially over. Investor activity in the precious metals segment in particular has been above average in recent weeks. According to the trader, transactions during the recent rise in the price of gold were particularly striking. The precious metal reached a new record high of around 2,590 dollars. Strong demand was observed in the HANSAgold AC (DE000A0RHG75) and the Earth Gold Fund UI (DE000A0Q2SD8). In contrast, the DJE - Gold & Ressourcen (LU0159550077) and DWS Invest Gold and Precious Metals Equities (LU0363470401) were sold in the majority of cases.

Among global equity funds, the fund specialist at Baader Bank reported ‘higher turnover’ in AGIF - Allianz Thematica (LU1479563717). This fund was also outweighed by sales, as was ARERO - Der Weltfonds (LU0360863863). At ICF Bank, the Morgan Stanley INVF Global Opportunity (LU0552385295) and UniGlobal - net- (DE0009750273) in particular saw ‘quite a lot of selling’, as Frank Wöllnitz notes. Overall, he also describes turnover as ‘quite respectable’. In terms of buying and selling, the fund trader paints a ‘mixed picture’ and sees mainly ‘procyclical activities.

A week of heavy selling in Asian funds

Trading in the Asian equities segment was rather quiet for a long time until the beginning of September, when there was ‘substantial selling’ in the wake of the fall in prices on the stock markets, as Präger states. Specifically, three funds were sold almost exclusively at Baader Bank during this phase: Templeton Asian Growth (LU0029875118) on the one hand and the euro and dollar versions of Baring Hong Kong China (IE0000829238 and IE0004866889) on the other.

In the Germany/Europe region, the trader reported purchases in the DWS Concept Platow (LU1865032954), one of the most successful small & mid cap funds in Germany over the long term. Meanwhile, there were sales in DWS Investa (DE0008474008), FF - European Growth (LU0048578792) and FT Frankfurt-Effekten-Fonds (DE0008478058).

‘Opposing opinions’ on property funds

Wöllnitz is observing quite a lot of turnover on both sides of the property fund segment in grundbesitz europa (DE0009807008). ‘There seem to be conflicting opinions as to where the share price belongs,’ explains the trader. The situation seems to be clearer for Deka-ImmobilienMetropolen (DE000DK0TWX8), which ‘was bought quite massively’. Wöllnitz also finds the keen interest in Franklin US Dollar Liquid Reserve (LU0052767562), a US dollar money market fund, exciting. ‘There may have been hopes of rising prices in the wake of the US Federal Reserve meeting’. In turn, UniOpti4 (LU0262776809), where foreign currency exposures are almost completely hedged against exchange rate risks, was sold.