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Smart
Power

Homepage » Funds » TBF SMART POWER

energy generation and energy transmission

Investment style

The TBF SMART POWER invests in companies that are active globally in the development of intelligent power networks (“Smart Grid / Transmission and Distribution”) as well as in the areas of “Power Management / LNG Infrastructure” and “Energy Efficiency / Renewables”. This enables the global equity fund to invest in the entire value chain of energy infrastructure and industry. In addition, strict ESG criteria are taken into account throughout the investment process, both in the case of exclusions and in the fundamental analysis.
  • Monthly fund commentary
für Dezember (01.12.2024 - 31.12.2024)

Fundamental gab es im Dezember gute Nachtrichten: Meta investiert weitere 10 Milliarden USD für ein Rechenzentrum in Louisiana, AWS ebenfalls 10 Milliarden in Ohio. Donald Trump betonte in einem Interview, dass der Stromhunger der Rechenzentren bekannt sei, aber ausreichend Energie produziert werde, damit die USA weiter die Vormachtposition im Bereich der Künstlichen Intelligenz behalten werde. Damit sprach er eine Sorge der NERC an, einer Organisation, die für Stresstests und Netzanalysen zuständig ist. Sie äußerte Bedenken, dass durch Abschaltung alter Kraftwerke und einem zu geringen Netzausbau, über der Hälfte des nordamerikanischen Kontinents in den nächsten 5 bis 10 Jahren einem erhöhten Risiko von Energieengpässen ausgesetzt sein könnte. Getrübt wurde die Stimmung durch die Aussagen der US-Notenbank, welche im kommenden Jahr weniger Zinssenkungen als erhofft durchführen könnte. Speziell bei den Namen, die zuvor gut gelaufen sind, gab es Gewinnmitnahmen: Eaton, nVent, Trane und Vertiv zählten zu den Aktien, die den Fonds am meisten belasteten. Hingegen profitierte der Fonds von den japanischen Werten wie Fujikura, Furukawa oder Hitachi.

Neu aufgenommen wurde MasTec ins Portfolio. Im Bereich der Energieinfrastruktur spielt Mastec eine zentrale Rolle beim Ausbau der Energieinfrastruktur, sowie bei der Entwicklung von Erneuerbaren Energien, Stromübertragungs- und Verteilungsnetzen, aber auch Gasnetzen, um den steigenden Energiebedarf nachhaltig zu decken. Hingegen wurde aufgrund der hohen Zinssensitivität Carrier Global verkauft und Positionen reduziert, um Gewinne zu realisieren.
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  • Performance
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Länderaufteilung
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  • Fund facts EUR I (DE000A2AQZX9)

Stand: 16.01.2025

NAV 81,32 EUR
Issue price 81,32 EUR
Redemption price 81,32 EUR
Performance 1 day 0,77 EUR
Performance year-to-date 2,03%
ISIN DE000A2AQZX9
WKN A2AQZX
Fund category Share funds
Launch date 01.12.2016
Total fund assets 181,55 Mio. EUR
End of fiscal year 30.09.
Fund domicile Germany
Dividend distributing
UCITS-compliant yes
   
Issue charge 0,00 %
Redemption charge 0,00 %
Total expense ratio 1,18 % p.a.
therefrom management fee 1,10 % p.a.
therefrom custodian fee 0,04 % p.a.
Performance fee no
Fund management TBF Global Asset Management GmbH
Capital management company HANSAINVEST
Custodian Donner & Reuschel Aktiengesellschaft
  • Ratings
Status: 29.11.2024
Morningstar Rating™ 3 years
  • Performance
Course dates
Performance in 12-month periods
  • Asset structures
Länderaufteilung
Branchenstruktur
Branchenaufteilung
Währungsaufteilung
  • Fondsdaten EUR R (DE000A0RHHC8)

Stand: 16.01.2025

NAV 95,74 EUR
Issue price 100,53 EUR
Redemption price 95,74 EUR
Performance 1 day 0,79 EUR
Performance year-to-date 1,98%
ISIN DE000A0RHHC8
WKN A0RHHC
Fund category Share funds
Launch date 07.12.2009
Total fund assets 181,55 Mio. EUR
End of fiscal year 30.09.
Fund domicile Germany
Dividend distributing
UCITS-compliant yes
   
Issue charge 5,00 %
Redemption charge 0,00 %
Total expense ratio 1,68 % p.a.
therefrom management fee 1,60 % p.a.
therefrom custodian fee 0,04 % p.a.
Performance fee yes
   
Fund management TBF Global Asset Management GmbH
Capital management company HANSAINVEST
Custodian Donner & Reuschel Aktiengesellschaft
  • Ratings
Status: 29.11.2024
Morningstar Rating™ 3 years
  • Performance
Course dates
Performance in 12-month periods
  • Asset structures
Länderaufteilung
Branchenstruktur
Branchenaufteilung
Währungsaufteilung
  • Fondsdaten CHF I (DE000A12BKD1)

Stand: 16.01.2025

NAV 66,11 CHF
Issue price 66,11 CHF
Redemption price 66,11 CHF
Performance 1 day 0,53 CHF
Performance year-to-date 1,85 %
ISIN DE000A12BKD1
WKN A12BKD
Fund category Share funds
Launch date 24.11.2014
Total fund assets 181,55 Mio. EUR
End of fiscal year 30.09.
Fund domicile Germany
Dividend distributing
UCITS-compliant yes
   
Issue charge 0,00 %
Redemption charge 0,00 %
Total expense ratio 1,73 % p.a.
therefrom management fee 1,20 % p.a.
therefrom custodian fee 0,04 % p.a.
Performance fee yes
   
Fund management TBF Global Asset Management GmbH
Capital management company HANSAINVEST
Custodian Donner & Reuschel Aktiengesellschaft
  • Ratings
Status: 29.11.2024
Morningstar Rating™ 3 years
  • Performance
Course dates
Performance in 12-month periods
  • Asset structures
Länderaufteilung
Branchenstruktur
Branchenaufteilung
Währungsaufteilung
  • Fondsdaten CHF R (DE000A1H44P9)

Stand: 16.01.2025

NAV 86,35 CHF
Issue price 90,67 CHF
Redemption price 86,35 CHF
Performance 1 day 0,69 CHF
Performance year-to-date 1,84 %
ISIN DE000A1H44P9
WKN A1H44P
Fund category Equity funds
Launch date 05.09.2011
Total fund assets 181,55 Mio. EUR
End of fiscal year 30.09.
Fund domicile Germany
Dividend ausschüttend
UCITS-compliant yes
   
Issue charge 5,00 %
Redemption charge 0,00 %
Total expense ratio 1,82 % p.a.
therefrom management fee 1,60 % p.a.
therefrom custodian fee 0,04 % p.a.
Performance fee yes
   
Fund management TBF Global Asset Management GmbH
Capital management company HANSAINVEST
Custodian Donner & Reuschel Aktiengesellschaft
  • Ratings
Status: 29.11.2024
Morningstar Rating™ 3 years
Source: Hansainvest, TBF, Morningstar
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Daniel Dreher

fund manager
After completing his apprenticeship as a banker at Volksbank Baden-Baden Rastatt eG, he immediately began a trainee program to become a securities specialist in Volksbank's Private Banking division. After completing the trainee program in 2011, he was initially responsible for the bank's product portfolio as a securities specialist before becoming an advisor to wealthy private clients within the Private Banking division.

He began studying part-time in 2010, successfully completing his Bachelor of Arts in Finance and Management. In 2017, he completed his Master of Science in General Management. He counts his internship in Group Treasury at DZ BANK AG in New York as one of the most important and valuable experiences he had during his studies.

Since October 2017, he has been employed as portfolio manager at TBF Global Asset Management GmbH and is in charge of defensive mandates most importantly the segment of European special situations.

Sebastian Schütt

Head of trade
After his apprenticeship as a banker at Dresdner Bank AG in Frankfurt am Main, he studied international business administration. This was followed by positions as a sales trader/stock broker at well-known and internationally operating institutions, including Cantor Fitzgerald International, where he worked most recently as a partner.

From 2010 to 2013, he was in charge of setting up institutional stock trading in Frankfurt am Main for Hauck & Aufhäuser Privatbankiers, focusing on small and mid caps. Similar positions in other institutions then followed. Most recently, he was employed at BNY Mellon at the multi-asset trading desk.

TBF has benefited from his expertise since December 2017. He is primarily responsible for further developing portfolio management processes and TBF's trading standards.

Patrick Vogel

Senior fund manager
Patrick Vogel began his career at Deutsche Bank/DWS. There he worked as a portfolio manager in the equities, multi-asset and fixed income sectors. He then worked at MainFirst for more than ten years. Patrick Vogel was part of the Global Equities / Multi Asset team for a long time and was appointed to the Management Board as Head of Portfolio Management in 2021. He was responsible for the implementation of sustainability approaches. He completed his Master's degree at the Frankfurt School of Finance & Management and is also a Certified Expert in Sustainable Finance.

Patrick Vogel joined TBF in January 2023 as Head of Strategic Asset Management and Senior Portfolio Manager.

Roman Kostal

Senior fund manager
Roman Kostal has over 25 years of experience in managing global fixed income funds and mandates. Previously, he was responsible for the management of global fixed income funds and mandates with an active currency approach at MainFirst, Eaton Vance and Oechsle International, primarily for institutional clients. Roman holds a bachelor's degree in economics from the University of Ostrava (Czech Republic) and a degree in business administration from the University of Regensburg. He is also a certified European Financial Analyst (CEFA).

Roman Kostal joined TBF as Senior Fund Manager in December 2022.

Roman Kostal

Senior fund manager
The graduate in economics and business administration began his investment career in 1987 at Bankers Trust, followed by positions at JP Morgan and Dresdner Kleinwort. At Ethenea Independent Investors, he was CIO and lead manager for global bonds in developed nations for eleven years. He played a key role in the company's success and was able to deliver decisive added value for all bond portfolios with his approaches.

He has been part of the TBF team since August 2019. As Senior Portfolio Manager and CEO, he is responsible for all of TBF's bond investments together with his colleague Roman Kostal.
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Peter Dreide

CIO and founder
Peter Dreide was characterized at an early stage by his determination and sense of responsibility. So it was only natural that the later founder and CIO of TBF Global Asset Management GmbH moved to Canada to take on new challenges in 1992. He started his career as an investment consultant at Deutsche Bank AG. In Canada, he worked for McLean McCarthy in the institutional brokerage sector and headed the International Sales department for German clients.

This was followed by senior positions at Barclays de Zoete Wedd, Deutsche Morgan Grenfell in London and Head of Domestic and International Sales at Deutsche Bank Securities in Canada.

He moved back to Germany with his wife and three children and founded his own company, TBF Global Asset Management GmbH, in 2000. Since then he acts as Chief Investment Officer.
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