Investment philosophy
The fund combines the philosophy of value investing with an "event-driven value" approach. The aim is to reduce fundamental risks in the selection of the fund's positions by focusing on companies with strong business quality. The fund is invested in accordance with Art. 8 of the EU Disclosure Regulation. ACATIS has defined 54 sustainability criteria that investors have rated as "very important". Exclusion criteria were defined by the majority of those surveyed. Companies that breach these requirements are only supposed to be included in the portfolio if their cumulative portion does not exceed 10% of fund assets.
NEW: Monthly distribution of 0.5% in the Share Class C
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Investment report December 2024 - View into the portfolio
Prosus: One of the most valuable technology investment companies in Europe
Prosus, a Dutch holding and investment com-pany, has firmly established itself as one of Eu-rope's most valuable listed technology groups since its foundation in 2019. With a broadly diversified portfolio focussing on growth sectors such as e-commerce, food delivery and ed-tech, the company plays a key role in the inter-national technology landscape.
Prosus was established in 2019 as a subsidiary of the South African Naspers Group, which was one of the largest media and internet groups in the world due to its early investment in the Chinese Tencent Group. The main motivation behind this spin-off was to reduce the valuation discount on the extensive investment portfolio and make the "intrinsic value" more visible, thereby increasing the company's value. Prosus was listed on the Amsterdam stock exchange and took over most of the portfolio companies held by Naspers, including in particular the valuable 25 per cent stake in the Chinese technology group Tencent.
Prosus' investment portfolio reflects a strategic focus on dynamic, future-orientated sectors. The three core areas of the company are:
e-Commerce: Prosus invests in platforms that are changing consumer habits worldwide, from marketplaces to specialised niche platforms.
Food delivery: Prosus holds investments in leading providers in the booming delivery service industry that are benefiting from global trends such as urbanisation and digitalisation
Ed-Tech: By investing in innovative education platforms, Prosus is helping to make education more accessible and effective worldwide. Thanks to these strategic investments, Prosus is now one of Europe's leading technology companies.
Prosus is financially solid, even though the net cash position has fallen slightly compared to previous figures. It currently stands at around 1.8 billion euros. In the last two years, the company has bought back around 22% of its outstanding shares, which demonstrates the management's confidence in the value of its investments and Prosus' growth potential.
With its targeted investments and financial stability, Prosus is well positioned to benefit from global trends in technology and digitalisation. The continuous expansion into growth markets such as e-commerce, food delivery and ed-tech promises further potential for value creation. Prosus is more than just a holding company. It is a driver of innovations and technologies that are fundamentally changing our lives.
Sincerely yours
Johannes Hesche
Product data
Investment Company | ACATIS Investment |
Domicil | Germany |
Custodian | Hauck Aufhäuser Lampe Privatbank AG |
Investment category | Balanced Funds |
Fiscal year end | 30.09. |
Key data
Share class A
Repurchase price | 396,92 EUR (18.02.2025) |
Security code number | A0X754 |
Isin | DE000A0X7541 |
Benchmark | 50% MSCI World GDR (EUR), 50% Euro Short-Term Rate |
Distribution | Dividends reinvested |
Date of inception | December 15, 20 |
Front end fee | 5% |
Minimum Investment | none |
Permission for public distribution | Germany, Austria, Switzerland, France, Spain, Netherlands, Portugal, Luxembourg, Italy |
Share class B
Repurchase price | 27.833,30 EUR (18.02.2025) |
Security code number | A1C5D1 |
Isin | DE000A1C5D13 |
Benchmark | 50% MSCI World GDR (EUR), 50% Euro Short-Term Rate |
Distribution | Dividends reinvested |
Date of inception | October 13, 201 |
Front end fee | 4% |
Minimum Investment | none |
Permission for public distribution | Germany, Austria, Switzerland, France, Spain, Netherlands, Luxembourg |
Share class C
Repurchase price | 1.434,30 EUR (18.02.2025) |
Security code number | A1T73W |
Isin | DE000A1T73W9 |
Benchmark | 50% MSCI World GDR (EUR), 50% Euro Short-Term Rate |
Distribution | Dividends distributed monthly |
Date of inception | July 10, 2013 |
Front end fee | 5% |
Minimum Investment | none |
Permission for public distribution | Germany, Austria, Switzerland, France, Spain, Netherlands, Portugal, Luxembourg |
Share class D
Repurchase price | 2.038,91 EUR (18.02.2025) |
Security code number | A2DR2M |
Isin | DE000A2DR2M0 |
Benchmark | 50% MSCI World GDR (EUR), 50% Euro Short-Term Rate |
Distribution | Dividends distributed |
Date of inception | June 7, 2017 |
Front end fee | currently 0% |
Minimum Investment | 50,000,000 Euro for initial investment |
Permission for public distribution | Germany |
Share class E
Repurchase price | 1.672,25 EUR (18.02.2025) |
Security code number | A2JQJ2 |
Isin | DE000A2JQJ20 |
Benchmark | 50% MSCI World GDR (EUR), 50% Euro Short-Term Rate |
Distribution | Dividends reinvested |
Date of inception | October 11, 201 |
Front end fee | currently 0% |
Minimum Investment | 50,000,000 Euro for initial investment |
Permission for public distribution | Germany |
Share class F
Repurchase price | 14.850,96 USD (18.02.2025) |
Security code number | A2P0U0 |
Isin | DE000A2P0U09 |
Benchmark | 50% MSCI World GDR (USD), 50% Euro Short-Term Rate |
Distribution | Dividends reinvested |
Date of inception | June 15, 2020 |
Front end fee | 4% |
Minimum Investment | none |
Permission for public distribution | Germany, Switzerland |
Share class X (TF)
Repurchase price | 154,95 EUR (18.02.2025) |
Security code number | A2H7NC |
Isin | DE000A2H7NC9 |
Benchmark | 50% MSCI World GDR (EUR), 50% Euro Short-Term Rate |
Distribution | Dividends distributed |
Date of inception | December 22, 20 |
Front end fee | currently 0% |
Minimum Investment | none |
Permission for public distribution | Germany, Austria, Switzerland, France, Spain, Netherlands, Luxembourg |
Share class Y (CHF TF)
Repurchase price | 143,14 CHF (18.02.2025) |
Security code number | A2PB53 |
Isin | DE000A2PB531 |
Benchmark | 50% MSCI World GDR (CHF), 50% Euro Short-Term Rate |
Distribution | Dividends distributed |
Date of inception | February 28, 20 |
Front end fee | currently 0% |
Minimum Investment | none |
Permission for public distribution | Germany, Switzerland |
Share Class Z (TF)
Repurchase price | 131,27 EUR (18.02.2025) |
Security code number | A2QCXQ |
Isin | DE000A2QCXQ4 |
Benchmark | 50% MSCI World GDR (EUR), 50% Euro Short-Term Rate |
Distribution | Dividends reinvested |
Date of inception | November 19, 20 |
Front end fee | 0% |
Minimum Investment | none |
Permission for public distribution | Germany, France, Spain, Luxembourg, Switzerland, Netherlands |