Performance June 2013
Performance June 2013:
Performance in June 2013 for the portfolio was -1.6% against -4.3% of the BM (50% Eurostoxx, 30% Dax, 20% MDAX). YTD, the portfolio is up +17.7% against 7.1% for the BM.
Interestingly, this was the first negative month for the portfolio after 18 consecutive positive months, for the BM the “run” were 12 months of positive returns. The positive aspect is the fact, that the draw down was a lot less than the benchmark, even adjusted for cash.
Graphically this looks as follows:
Positive contributors were EGIS (+6.6%), Rhoen (+6.5%). Loosers were SIAS (-15,1%), EMAK (-12,4%), AS Creation (-7,1%).
As discussed, I closed the Kabel Deutschland short after the official offer of Vodafone. The result was a loss of ~-22% on this position.
Only new entry of the month was Thermador. In order to remain within my 20% allocation to France, I sold Bouygues at the same time, resulting in a profit (incl. dividend) of ~+11%.
Portfolio as of 30.06.2013
|Name||Weight||Perf. Incl. Div|
|AS Creation Tapeten||4.0%||39.2%|
|Tonnellerie Frere Paris||5.8%||81.6%|
|IGE & XAO||2.0%||4.8%|
|KAS Bank NV||4.7%||28.7%|
|Drägerwerk Genüsse D||9.1%||180.1%|
|DEPFA LT2 2015||2.6%||58.3%|
|Short Lyxor Cac40||-1.1%||-11.0%|
|Short Ishares FTSE MIB||-1.8%||-3.6%|
|Terminverkauf CHF EUR||0.2%||6.9%|
Nothing really new.