Overview & Key Facts
Investment Strategy
The BlackPoint Evolution Fund follows a balanced wealth management approach and is actively managed and therefore does not use indexes as a benchmark. The flexible investment in equities and bonds, in connection with the continuous tactical adjustment of the portfolio, aims to achieve an appropriate participation in rising markets, combined with capital protection in falling markets.
In his strategic asset allocation, the majority is invested worldwide in equities and around a third in bonds. The basis for this is a equities portfolio that combines established and dynamic elite companies - the "DARWIN portfolio". While the established ones are already generating strong earnings in a predictable manner, the potential for higher growth for the dynamic ones often lies in disruptive new business models. This robust combination brings together the resilience and adaptability of these companies. Characteristics that are crucial for successfully surviving different market phases. The consideration of sustainability criteria and the support of the 10 principles of the UN Global Compact Pillars in the areas of human rights, labor standards, environment and corruption prevention are also part of the investment policy.
Possible significant risks of funds in this risk class
Higher price risks in the areas of equities, interest rates and currencies as well as credit risks that can lead to possible capital losses.
Risk Notice: Due to its composition/the techniques used by the fund management, the investment fund has increased volatility, i.e. the unit prices can be subject to greater upward or downward fluctuations within short periods of time.
Key Facts
| Category | Multi-Asset |
|---|---|
| Fund domicile/type | Luxemburg / FCP UCITS V |
| Fund currency | EUR |
| Inception date (first NAV) | Share classes A, B und C: 03.11.2021, Share class D: 18.10.2021 |
| Fiscal year | 01.01. - 31.12. |
| Administration | IPConcept (Luxemburg) S.A. |
| Custodian | DZ PRIVATBANK S.A. |
| Fund manager | BlackPoint Asset Management GmbH |
| Sales approval | DE, AT, LU |
| Trade | daily (cut off: 2:00 p.m. CET) |
| Min. initial inv. | Share classes A and B: none, Share class C: 5.0 Mil. €, Share class D: 50.0 Mil. € (closed) |
| Use of income | distributing |
| Target fund eligible | yes |
| Partial exemption[1] | 15% (private investors) or up to 40% (legal entities) |
Costs
| Upfront fee[2] | Share class A: max. 4%, Share classes B, C and D: none |
|---|---|
| Ongoing chargesp.a. | Share class A: 2.10% / B: 1.38% / C: 1.09% / D: 0.93% |
| Performance fee | none |
Target Market[3]
| Investor type | Private/Professional clients / Eligible counterparty |
|---|---|
| Knowledge | Basic knowledge and/or experience with financial products |
| Investment goals | General wealth formation / Wealth optimization |
| Loss-Bearing Capacity | The investor can bear losses (up to the complete loss of the invested capital). |
| Risk Indicator (SRI) | 3 |
| Risk profile[4] | Growth oriented |
| Recommended Holding Period | Long term (> 5 yrs) |
| SFDR[5] | Sustainability, ESG/Green Investment (Art. 8) |
[1] The partial exemption serves to offset certain taxes already levied at the fund level. The fund's taxable income, e.g. in the case of a distribution, is therefore tax-free up to the stated percentage. For more information on this: https://www.bvi.de/faq/faq-besteuerung-von-investmentfonds/ (Source: BVI Bundesverband Investment und Asset Management e.V.)
[2] In favor of the respective intermediary
[3] There is no negative target market classified for this fund. The gray target market is not represented on this website.
[4] The BlackPoint Evolution Fund sub-fund managed by the management company is assigned to the “growth-oriented” risk profile. The risk profile description was prepared on the assumption of normally functioning markets. In unforeseen market situations or market disruptions due to non-functioning markets, more extensive risks than those mentioned in the risk profile can arise. The sub-fund is suitable for growth-oriented investors. Due to the composition of the net sub-fund assets, there is a high overall risk, which is offset by high income opportunities. The risks can consist in particular of currency, credit and price risks, as well as risks resulting from changes in market interest rates.
[5] For detailed information on sustainability in accordance with Regulation (EU) 2019/2088, please refer to the document “Sustainability-related disclosures” at https://bit.ly/4h1uTzg.
Return
Performance Chart
Performance (as of 24.06.2025)
| 1 Month | -0.77% |
|---|---|
| 3 Months | -2.50% |
| 6 Months | -2.83% |
| YTD | -3.16% |
| 1yr | 2.01% |
| 3yrs ann. | 5.32% |
| Since inception | -0.56% |
Performance of the past 12-month periods (as of 24.06.2025)
| On the day of launch (initial fee) | 0.00% |
|---|---|
| 24.06.2024 - 24.06.2025 | 2.01% |
| 24.06.2023 - 24.06.2024 | 10.08% |
| 24.06.2022 - 24.06.2023 | 4.05% |
Monthly performance (as of 24.06.2025)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Jan | 2.77% | 2.17% | 3.81% | -6.17% | |
| Feb | 0.38% | 1.22% | -0.14% | -2.97% | |
| Mar | -4.59% | 1.79% | 0.86% | 1.72% | |
| Apr | -3.04% | -1.85% | 0.55% | -1.49% | |
| May | 2.54% | 0.03% | 1.12% | -3.73% | |
| Jun | -1.04% | 2.54% | 0.72% | -3.62% | |
| Jul | -0.38% | 2.09% | 4.93% | ||
| Aug | 0.85% | -1.75% | -2.53% | ||
| Sept | 1.98% | -2.31% | -5.17% | ||
| Oct | -0.06% | -2.28% | 1.19% | ||
| Nov | 2.07% | 3.76% | 1.20% | 0.05% | |
| Dec | 0.73% | 4.56% | -2.50% | 0.87% | |
| YTD | -3.16% | 11.59% | 11.23% | -18.02% | 0.92% |
Source of the performance chart: DZ Privatbank S.A.
The performance information in the past 12-month periods refers to the specified 12-month periods. On days that fall on a public holiday or a weekend, the rate of the previous day or the last available rate will be used, as it is not possible to determine the rate on these days. Past performance is not a reliable indicator of future performance. Assumption: An investor wants to buy shares for 1000 euros. With a maximum front-end load of 4.00%, he must spend EUR 1,040.00.
The gross performance (BVI method) takes into account all costs incurred at fund level; the net performance also includes the front-end load; further costs may be incurred at investor level (e.g. custody account costs). Since the front-end load is only incurred in the first year, the gross/net presentation only differs in this year.
Portfolio
Portfolio structure
As of: 31.05.2025
| Equity | ||
|---|---|---|
| Equities Europe | 21.15% | |
| Equities USA | 31.39% | |
| Equities EM | 5.98% | |
| Equities Asia/Other | 0.00% | |
| Bonds | ||
| Corp. Bonds IG | 10.56% | |
| Corp. Bonds HY/NR | 8.58% | |
| Gvt. Bonds DM | 10.64% | |
| Cov. Bonds | 0.00% | |
| Bonds EM | 6.35% | |
| Other | ||
| Other/Gold | 4.66% | |
| Cash | ||
| Cash | 0.69% | |
Key Facts Equity Portfolio
| # Holdings | 43 |
|---|---|
| MarketCap (EUR b) | 590,023 |
| Dividend Yield | 1,99% |
| PE | 17,5 |
Key Facts Bond Portfolio
| # Holdings (Issuers) | 67 (56) |
|---|---|
| Duration to Worst | 7,8 |
| Coupon | 2,88% |
| Yield to Maturity | 5,03% |
| Yield to Worst | 4,94% |
Top 10 Holdings
in % of total assets
| Cat Bond (Fund) | 3.43 % | |
|---|---|---|
| Allianz | 3.28 % | |
| Physical Gold ETC | 3.17 % | |
| Alibaba | 3.12 % | |
| Visa | 2.98 % | |
| NVIDIA | 2.31 % | |
| Unilever | 2.13 % | |
| Nestle | 1.85 % | |
| Mercedes-Benz | 1.84 % | |
| Assa Abloy | 1.81 % |
Currencies
in % of total assets
| EUR | 50.49 % | |
|---|---|---|
| USD (net) | 30.54 % | |
| GBP | 5.93 % | |
| CHF | 4.34 % | |
| HKD | 3.61 % | |
| Other | 2.08 % | |
| SEK | 1.81 % | |
| DKK | 1.20 % |
Sectors Equity Portfolio
in % of equity portfolio
| Information Technology | 25.70 % | |
|---|---|---|
| Financials | 19.62 % | |
| Consumer Discretionary | 17.93 % | |
| Health Care | 13.98 % | |
| Consumer Staples | 8.94 % | |
| Communication Services | 6.58 % | |
| Industrials | 5.57 % | |
| Utilities | 1.69 % |
Sectors Bond Portfolio
in % of bond portfolio
| Government | 44.42 % | |
|---|---|---|
| Financials | 26.85 % | |
| Consumer Staples | 8.39 % | |
| Consumer Discretionary | 7.94 % | |
| Communication Services | 5.23 % | |
| Information Technology | 3.68 % | |
| Utilities | 3.49 % | |
| Energy | 0.00 % | |
| Industrials | 0.00 % | |
| Materials | 0.00 % | |
| Other | 0.00 % |
Countries Equity Portfolio
in % of equity portfolio
| United States of America | 50.44 % | |
|---|---|---|
| Germany | 17.77 % | |
| United Kingdom | 6.63 % | |
| China | 6.17 % | |
| Switzerland | 4.63 % | |
| Sweden | 3.09 % | |
| Taiwan | 2.96 % | |
| Denmark | 2.05 % | |
| France | 1.97 % | |
| Other | 1.62 % | |
| Netherlands | 1.56 % | |
| Brazil | 1.11 % |
Countries Bond Portfolio
in % of bond portfolio
| Other | 28.76 % | |
|---|---|---|
| United States of America | 18.74 % | |
| France | 18.10 % | |
| Germany | 9.11 % | |
| United Kingdom | 8.16 % | |
| Italy | 4.37 % | |
| Mexico | 2.91 % | |
| Romania | 2.74 % | |
| Hungary | 2.66 % | |
| Belgium | 2.32 % | |
| Luxembourg | 2.13 % |
Rating
in % of bond portfolio
| BBB | 29.73 % | |
|---|---|---|
| AA | 24.47 % | |
| BB | 13.34 % | |
| A | 12.76 % | |
| NR/Other | 12.76 % | |
| B | 4.10 % | |
| AAA | 2.85 % |
Source of all chart data: Bloomberg
Data as a percentage of the fund volume, unless otherwise stated. You can obtain the complete composition of the portfolio structure from BlackPoint Asset Management GmbH, Herrnstr. 44, 80539 Munich and at the fund administration company of BlackPoint Evolution Funds, IPConcept (Luxemburg) S.A., 4, rue Thomas Edison, L-1445 Strassen, Luxembourg.
Management
Alexander Pirpamer worked for Reimann Investors Asset Management between 2010 and 2021, most recently as Managing Director and Head of Asset Allocation and Research.
Previously, as a senior fund manager at Activest, later Pioneer Investments, he was responsible for various equity, mixed and fund of funds, also as part of the asset management of HypoVereinsbank with a volume of several billion euros. In this role, Alexander Pirpamer developed a number of proprietary asset allocation and single stock selection models that have been used successfully to manage multiple mutual funds and institutional mandates.
He studied economics at the University of Augsburg and later obtained his Masters in Business Administration from the European University in Montreux, Switzerland.
Marcel Huber can look back on more than 15 years of experience in fund management at the Munich Re Group, most recently as senior portfolio manager in the multi-asset team and before that in the fixed income credit team at MEAG.
In this function he was responsible for the management of flagship funds for the Munich Re Group, both in the form of special funds and institutional mandates and in the form of several successful mutual funds. The total volume responsible for all stations was over one billion euros.
He successfully completed his studies in economics at the Fernuniversität Hagen and later obtained his Masters in Business Administration with distinction at Bradford University and the Toulouse Business School in Bradford, Toulouse and Dubai.
Svilen Katzarski has more than 16 years of experience in fund management at Degussa Bank, where he was most recently solely responsible for almost 1 billion euros in multi-asset, equity and bond funds.
His expertise includes asset allocation, equity and bond selection and macroeconomic analysis, with a strong focus on identifying long-term investment opportunities. Svilen Katzarski's track record speaks for itself: During this time, his funds have consistently been among the top 1 percent of their Morningstar peer groups - across all time periods. In addition, his achievements have been recognized with more than 30 awards in four different fund categories.
He holds an MA in econometrics and a diploma in economics from the Ludwig Maximilian University of Munich.
Monthly Comments
Global stock markets were once again volatile at the end of the month. Political headlines – particularly Donald Trump's renewed push toward China and Europe – briefly caused irritation, but prices quickly recovered. The US benchmark S&P 500 index closed May with a gain of over six percent – its best May since 1990.
Market reactions indicate that investors are increasingly relaxed about political rhetoric. While headlines – particularly those surrounding trade tariffs and geopolitical tensions – are likely to continue to shape market activity, a pragmatic realism is also emerging: fundamental data and corporate earnings are regaining importance and are likely to dominate sentiment in the medium term.
Against this backdrop, the MSCI USA rose by 6.3 percent in May. European stock markets followed suit: the MSCI Europe recorded a gain of 3.9 percent. The MSCI Japan also performed well, gaining 5.3 percent. The Chinese stock market followed suit with a rise of 3.5 percent. Meanwhile, corporate bonds from the US and Europe remained stable month to date (all figures in local currency).
Our equity portfolio recorded encouraging value growth in May. US technology stocks such as Broadcom, Nvidia, and The Trade Desk made significant contributions to the positive performance. In contrast, Chinese technology stocks weighed on performance: Both Alibaba and Baidu recorded noticeable price declines over the course of the month.
We completely sold our position in Pfizer. At the same time, we established a new focus on the European utility sector by establishing our first position in E.ON. We also made selective purchases of Apple, TSMC, and Nvidia.
The bond portfolio remained largely stable in May. On the transaction side, we made a targeted investment in a long-term US Treasury bond. In return, we closed our investments in corporate bonds from Fiserv, APT Pipelines, and EasyJet.
We remain cautiously constructive, focusing on diversification and selective opportunities in an increasingly fragmented market environment.
In physics, chaos theory shows how minimal disruptions can destabilize complex and large systems. Donald Trump's economic policy follows the same principle – but intentionally. Tariffs are imposed overnight, alliances are questioned via tweet, and central bank governors are publicly defamed. The chaos is not collateral damage, but strategy. Trump creates uncertainty to gain dominance – often successfully in the short term. Companies, markets, and governments remain on alert while he resets the course daily.
Capital markets reacted sensitively in April. The mere announcement of new tariffs caused stock prices to collapse worldwide – a 90-day suspension a few days later was enough for a rapid countermovement. Such a climate of permanent unpredictability increasingly strains confidence: investments are postponed, international cooperation becomes fragile. Markets fear uncertainty – and reflected this development.
The MSCI USA fell 1.0% in April, while European stock markets fell an average of 2.4%. Japan remained stable at +0.2%, while China showed significant weakness at -5.5%. Corporate bonds performed unevenly: US corporate bonds lost 0.3%, while European bonds gained 1.4% (all figures in local currency).
Our equity portfolio also recorded declines – particularly in Alibaba, LVMH, Thermo Fisher, and PepsiCo. Positive momentum came from Broadcom, 3i Group, Lonza, and Deutsche Börse. The bond portfolio remained stable. On the transaction side, we invested in Rakuten's corporate bond and increased our position in subordinated bonds from Oldenburgische Landesbank.
On the equity side, we reduced positions in Johnson & Johnson, Merck & Co., Stryker, and LVMH. Gains were realized in Allianz and gold, among others. We sold completely AirBnB, EQT AB, and Monolithic Power. We built up new positions in UniCredit, Nvidia, TSMC, Motorola Solutions, and Mercado Libre.
We remain cautiously constructive – focusing on diversification and selective opportunities in an increasingly fragmented market environment.
Does Donald Trump want to re-measure trade relations with the ruler – or rather punish them? Already at the beginning of his first term in 2017, he relied on aggressive negotiating tactics, for example, in the renegotiation of the NAFTA agreement with Mexico and Canada. Even then, the "America First" mantra dominated: protectionist rhetoric, national interests at the forefront, and escalation as a deliberate negotiating strategy. Although negotiations were only conducted with two countries, the bumpy talks dragged on for almost four years.
Trump's current push to introduce so-called reciprocal tariffs would have a significantly greater scope and complexity. This would affect large swathes of global trade – from the EU to Japan to China. Such a step would likely not only violate WTO rules but could also trigger a new spiral of escalation in global trade – with corresponding consequences: increasing uncertainty and sustained volatility in the financial markets, possibly for an extended period.
Financial markets were correspondingly nervous in March: The MSCI USA lost 6.0%, Europe declined 4.4%, and Japan lost 1.5%. China, on the other hand, was able to decouple itself again, gaining 2.0%. Corporate bonds performed weaker – with a loss of 0.3% in the US and 1.5% in Europe (all figures in local currency).
The equity portfolio also recorded declines – impacted, among others, by Novo Nordisk, LVMH, and US tech stocks such as Broadcom, Meta, Alphabet, and Amazon. Positive impulses, however, came from insurers such as Allianz and Kinsale Capital, as well as defensive consumer stocks such as Unilever and Nestlé. The bond portfolio suffered from rising yields in the US and Europe; long-term government and corporate bonds declined.
On the transaction side within our bond portfolio a French long-term bond, a Dominican government bond, as well as Cheniere and Sempra Energy were sold. New purchases to the portfolio included subordinated bonds from Oldenburgische Landesbank, as well as Romanian and Hungarian government bonds. On the equity side, positions in Visa, Meta, Salesforce, LVMH, Alphabet, and Broadcom were reduced, while Crowdstrike and Blackstone were sold entirely. New investments were made in Mercedes-Benz and Siemens.
We remain cautiously constructive and, with a view to the European financial market, are committed to a broadly diversified portfolio.
The early praise could hardly have been greater: Donald Trump's election victory prompted many investors to call him the most stock market-friendly president ever. But the initial rally lost momentum as markets reacted to the uncertainties surrounding Trump's key economic policies - most notably his aggressive tariff policy. Trumponomics 2.0 caused considerable confusion, for example by constantly changing the dates of his tariffs. And if there is one key word that financial markets fear, it is "uncertainty". Against this backdrop, it seems almost ironic that US stock markets fell sharply in February, while China and Germany - the countries Trump wanted to hit - closed with gains.
The US stock market lost 1.7% last month, while Europe rose 3.5% and China even gained 11.5%. Japan was weak by global standards, losing 4.0%. Corporate bonds performed positively: US stocks rose by 2.0%, European stocks by 0.7%. (All MSCI indices in local currency)
The equity portfolio performed positively in January, led by the Chinese tech group Alibaba and the European heavyweights Allianz and Nestlé. In contrast, US tech companies such as Alphabet, Salesforce and Broadcom as well as the payment service provider PayPal posted losses.
The bond portfolio also performed positively, helped by a significant decline in interest rates across almost all maturities of US government bonds. Long-term bonds and government bonds from emerging markets benefited, while in the automotive sector bonds from Volkswagen and Avis weighed on performance.
Proceeds from the sale of corporate bonds were reinvested in government bonds from Poland and the United Kingdom. In addition, the equity position in Novo Nordisk was increased and new investments in Blackstone and Lonza were established. Holdings in Apple, Meta, PayPal and Pfizer were reduced, and the BMW position was completely sold. The gold exposure in the portfolio was increased.
We remain cautiously optimistic and are focusing on a more broadly diversified portfolio with a view to the European financial market.
When we look back on January 20, 2025, one day, it may seem like a turning point - a day that divided the world into a time before and after. While Donald Trump began his second term in office and threatened punitive tariffs against the EU, a quiet revolution took place in China: Prime Minister Li Qiang received the previously unknown Liang Wenfeng. A few days later, his company Deepseek shook the technological dominance of the USA. An update of its AI was able to keep up with the best models of Western tech giants - with drastically lower computing power and lower costs. In addition, Deepseek currently offers the use of its R1 model almost free of charge and consistently publishes the program code as open source - i.e. freely accessible to anyone interested, including competitors. This opens up the opportunity for European companies to break US dominance and trigger a wave of innovation. Was January 20th Trump's triumph - or the first day on which the supposedly limitless American dominance began to crumble?
So, it is hardly surprising that the markets were volatile in January, but ended the month positively overall: the American market (MSCI USA) rose by 2.5%, the European market (MSCI Europe) by 7.0%, China (MSCI China) by 0.8% and Japan (MSCI Japan) by 0.1%. American corporate bonds rose by 0.6%, European ones remained unchanged (all indices in local currency).
The equity portfolio developed positively in January, led by Dutch Bros., Meta, Crowdstrike, SAP and Thermo Fisher. Chip manufacturers such as Intel and Broadcom as well as Apple and Kinsale recorded losses. The bond portfolio closed slightly in the red, as long-term bonds in particular suffered price losses. Short-term corporate bonds and emerging market government bonds, on the other hand, benefited from the market environment.
Profits from redemptions were reinvested in government bonds of different maturities, countries and currencies. In addition, the position in Novo Nordisk was increased and new investments were made in EQT, Monolithic Power Systems and Nestlé. Holdings in Shopify, Alphabet and Upstart were reduced, and Intel and Target were sold completely.
We will continue to stick to our carefully coordinated, but nevertheless constructive portfolio strategy in the coming weeks.
Frank Sinatra's wonderful song "It Was a Very Good Year", which celebrates the individual phases of a man's life, can be seen as a metaphor for the quarters of the 2024 stock market year: a year that began with optimism, reached highs amid geopolitical tensions and macroeconomic challenges, and finally ended in a phase of consolidation and reflection. The US economy confirmed its role as a driving force and grew steadily, but was unable to fully cover the many challenges ahead for 2025. First and foremost are stubborn inflation and the reaction of the Federal Reserve, which signalled that fewer interest rate cuts are to be expected in the future. Another key question remains how the growth-oriented policies of President-elect Donald Trump will affect consumer prices and public finances.
Against this backdrop, the mood at the turn of the year clouded somewhat: the American market (MSCI USA) fell by -2.5%, the European market (MSCI Europe) by -0.5%. Only the Asian markets were able to decouple from the global trend, recording growth of +2.5% in China (MSCI China) and +4.2% in Japan (MSCI Japan). American corporate bonds fell by -1.9%, European ones by -1.0% (all price indices in local currency).
The equity portfolio developed positively in December, led by technology stocks such as Broadcom, Alphabet and Apple as well as European stocks such as BMW and LVMH. High-growth companies such as Upstart and Shopify as well as pharmaceutical stocks such as Crispr and Novo Nordisk, however, suffered losses. The bond portfolio weighed on overall performance, as long-term bonds in particular suffered price losses. Short-term bonds and government bonds from emerging markets, on the other hand, benefited from the market environment.
Proceeds from short-term bonds sold were reinvested in bank bonds and medium-term government bonds. In addition, a position was built up in Amazon, while holdings in SAP, Meta, Alphabet, Visa and Allianz were reduced and the position in Vodafone was sold completely. The gold share in the portfolio was further increased.
We are starting the new year with a carefully coordinated yet constructive portfolio strategy.
Downloads
- Sales prospectus (German) BlackPoint Evolution Fund
- PRIIPs-KID (German) BlackPoint Evolution Fund B
- Sustainability-Related Disclosures (German) BlackPoint Evolution Fund
- Annual report (German) BlackPoint Evolution Fund
- Pre-contractual Info RTS Appendix 2/3 (German) BlackPoint Evolution Fund
- Semi-annual report (German) BlackPoint Evolution Fund
- Durable medium (German) BlackPoint Evolution Fund
- Regular Information RTS Appendix 4/5 (German) BlackPoint Evolution Fund
- Performance scenario (shareclass B) BlackPoint Evolution Fund B
- Performance (shareclass B) BlackPoint Evolution Fund B
MiFID II
Since January 3, 2018, investment services firms offering investment services under Directive 2014/65/EU (Markets in Financial Instruments Directive – “MiFID II”) have had to meet certain new requirements regarding the distribution of investment funds under of the respective implementing laws in the individual member states of the European Union.
According to these rules, investment services companies are obliged to determine or check and more precisely determine the target market for each financial instrument they sell. This means they must specify the type(s) of clients with whose needs, characteristics and objectives the financial instrument is compatible. Furthermore, MiFID II introduces new disclosure requirements with regard to costs, which are aimed at increasing cost transparency for investors on both a quantitative and qualitative level. Accordingly, investment services companies must disclose all relevant costs to the customer, i. H. both in terms of investment services and in terms of the product. These costs must be summarized and made available both ex ante (i.e. before the customer purchases a product) and sometimes also ex post during the holding period on at least an annual basis.
The capital management company of the BlackPoint Evolution Fund, IPConcept (Luxembourg), supports this process by providing the relevant data to the investment services companies in order to enable them to fulfill their new legal obligations.
Important instructions
In the interest of increased transparency, the target market information and essential information on the product costs under MiFID II are also given above in the "Overview" area for the investment fund in question. These are provided on a voluntary basis and are to be taken on their own, without further explanations and additional information, i. H. in particular, the information contained in the relevant sales documents of the investment fund (e.g. sales prospectus, KID) may not be sufficient or appropriate to assist a potential investor in making an informed investment decision. It is therefore recommended that investors also carefully read the sales documents before making any investment decision and, especially if they have any questions, consult their investment advisor.
The information on the ongoing product costs may differ from the information on costs in the relevant sales documents of the investment fund (e.g. the KID). This is because the requirements to disclose ongoing charges and fees at product level under the new MiFID II rules on the existing disclosure requirements that asset management companies have under their respective regulatory frameworks (i.e. the UCITS Directive and their respective national implementing laws ) apply, go out. For example, the estimated transaction costs of an investment fund are not part of the ongoing charges description in the key investor information document prepared by the management company. However, under MiFID II, an investment services enterprise must disclose such costs as part of the cost of the product well in advance of a potential investor making an investment decision. As such, the ongoing charges relating to the product shown above as “Total Ongoing Charges of the Product” may differ from the Fund's sales documentation due to differences in calculation and disclosure methodology.
BlackPoint Asset Management GmbH assumes no responsibility or liability with regard to the data, except in the case of gross negligence or willful misconduct.
Opportunities
-
- High investment diversification effects through flexible investment in different asset classes, regions and sectors
- Focus on asset preservation and growth without reference to conventional market indices
- Good balance between risk and return
Risks
-
- Market, sector and company-related exchange rate fluctuations
- Exchange rate fluctuations
- The unit value can fall below the purchase price at which the investor acquired the unit.
- Due to its composition / the techniques used by the fund management, the investment fund is more volatile, i.e. the unit prices can also be subject to greater fluctuations, upwards or downwards, even within short periods of time.
This is a marketing communication. Please refer to the prospectus and the key information document (PRIIPs KID) before making any final investment decisions.
This also contains detailed informations on opportunities and risks. A current version of the aforementioned documents and reports is available free of charge in German from the registered office of the management company IPConcept (Luxemburg) SA, 4, rue Thomas Edison, L-1445 Strassen, Luxembourg, on the homepage (www.ipconcept.com), from DZ PRIVATBANK S.A., 4, rue Thomas Edison, L-1445 Strassen, Luxembourg, and the German sales office BlackPoint Asset Management GmbH, Herrnstr. 44, 80539 Munich. Further information on investor rights is available in English on the management company's website at https://www.ipconcept.com/ipc/en/investor-information.html. The management company may decide to terminate the arrangements made for the marketing of this collective investment undertaking in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU. All information published here is for your information only, is subject to change and does not constitute investment advice or any other recommendation. The sole binding basis for the acquisition of the fund is the above-mentioned documents in conjunction with the associated annual report and/or the semi-annual report. The statements contained in this document reflect the current assessment of BlackPoint Asset Management GmbH. The opinions expressed may change at any time without prior notice. All information in this overview has been provided with due care in accordance with the state of knowledge at the time of preparation. However, no guarantee or liability can be assumed for the correctness and completeness.
The gross performance (BVI method) takes into account all costs incurred at fund level (e.g. management fee), the net performance also includes the issue surcharge; further costs may arise at investor level (e.g. custody account costs), which are not taken into account in the illustration. Past performance is not a reliable indicator of future performance. The sales prospectus contains more detailed tax information.
The units issued in this fund may only be offered for purchase or sold in jurisdictions in which such an offer or such a sale is permissible. The units of this fund may not be offered for sale or sold to or for sale within the USA or to or for the account of US citizens or US persons resident in the USA. This document / this section of the website and the information it contains may not be distributed in the USA. The distribution and publication of this document as well as the offer or sale of the shares may also be subject to restrictions in other legal systems.
* The Investment Tax Act in the version applicable from 1.1.2018 defines mixed funds as follows: Mixed funds are investment funds that continuously invest at least 25 percent of their value in equity investments in accordance with the investment conditions.
The investment tax law was changed by the law to avoid sales tax losses when trading goods on the Internet and to change other tax regulations of 11.12.2018. Mixed funds are now defined as follows: Mixed funds are investment funds which, in accordance with the investment conditions, continuously invest at least 25 percent of their assets in equity investments. The amount of the assets is determined by the value of the assets of the investment fund without taking into account the liabilities of the investment fund. Instead of the assets, the investment conditions may be based on the value of the investment fund. When determining the amount of assets invested in equity investments, in these cases the loans are to be deducted in accordance with the share of equity investments in the value of all assets.
For more informations: https://www.bvi.de/faq/faq-besteuerung-von-investmentfonds/
(Source: BVI Bundesverband Investment und Asset Management e.V.)
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Welcome to BlackPoint Asset Management
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You can invest in the BlackPoint Evolution Fund directly and securely online and always keep an eye on your investment thanks to daily transparency. This works with just a few clicks via BlackPoint digital, a service offered by FINTEXLAB, a brand of WMD Capital GmbH (HRB 226421 Commercial Register Munich), in cooperation with BlackPoint Asset Management GmbH.