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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 Februar (01.02.2025 - 28.02.2025)

Die Verunsicherung des DeepSeek Bebens hält im Februar an und belastet speziell die US-Werte wie Vertiv, Quanta Services oder GE Vernova. Alleine diese drei Werte belasteten den Fonds mit 2%. Nur Fujikura, Nexans, Legrand und Hitachi konnten positiv zur Performance im Februar beitragen.
Die wichtigsten Fragen drehen sich um die künftigen Wachstumsraten und die zu erwartende Stromnachfrage. Ende Februar haben 90% der US-Unternehmen bereits berichtet und berichten von einer Fortführung der fundamentalen Geschehnisse:
Bspw. berichtet Sempra für Texas eine Zunahme der Nachfrage nach Netzanschlüssen um 250% im Vergleich zu 2023. Daher investieren sie 50% mehr als bisher geplant. Das ist vergleichbar mit den übrigen US- Stromversorgern, die ihre Investitionspläne für diesen Zeitraum um 30 – 50% anhoben.
Sind wir am Ende vom Investitionszyklus? Das Auftragsbuch von DELL ist eher positiv zu lesen und konnte allein in den ersten zwei Monaten Millardenaufträge einsammeln, die in Zukunft die Stromnachfrage steigern sollten. Quanta Services bestätigt diesen Trend, denn sie sehen 50 bis 100 Gigawatt an neuen Projekten, die an das Stromnetz angeschlossen werden müssen.
Der dänische Turbinenhersteller Vestas wurde neu in das Portfolio aufgenommen. Im Vergleich zu Gasturbinen oder kleinen Kernkraftwerken ist neben Photovoltaik die Windkraft eine der schnellsten Lösungen, um neue Kapazitäten in den USA dem Stromnetz hinzuzufügen.
Die Schwäche von Vertiv, GE Vernova oder Mitsubishi Heavy wurde genutzt, um die Aktien nachzukaufen. Zur Finanzierung wurden die europäischen Versorger komplett verkauft.
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  • Performance
Course dates
Performance in 12-month periods
  • Asset structures
Länderaufteilung
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  • Fund facts EUR I (DE000A2AQZX9)

Stand: 02.04.2025

NAV 68,98 EUR
Issue price 68,98 EUR
Redemption price 68,98 EUR
Performance 1 day 0,81 EUR
Performance year-to-date -13,45%
ISIN DE000A2AQZX9
WKN A2AQZX
Fund category Share funds
Launch date 01.12.2016
Total fund assets 201,35 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
Stand: 28.02.2025
Morningstar Rating™ 3 years
Das Bild zeigt das Logo des Fund Awards 2025, es ist ein goldener Bulle auf einem weißen Kasten in diesem steht "Fund Award 20252 und darunter sind drei Logos "Börse online", "Euro am Sonntag" und "Euro"Das Bild zeigt das Logo des LESG Lipper Fund Awards, welchen TBF 2024 für den TBF SMART POWER gewonnen hat
  • Performance
Course dates
Performance in 12-month periods
  • Asset structures
Länderaufteilung
Branchenstruktur
Branchenaufteilung
Währungsaufteilung
  • Fondsdaten EUR R (DE000A0RHHC8)

Stand: 02.04.2025

NAV 81,46 EUR
Issue price 85,53 EUR
Redemption price 81,46 EUR
Performance 1 day 0,96 EUR
Performance year-to-date -13,23%
ISIN DE000A0RHHC8
WKN A0RHHC
Fund category Share funds
Launch date 07.12.2009
Total fund assets 201,35 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 1,69 % 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
Stand: 28.02.2025
Morningstar Rating™ 3 years
Das Bild zeigt das Logo des Fund Awards 2025, es ist ein goldener Bulle auf einem weißen Kasten in diesem steht "Fund Award 20252 und darunter sind drei Logos "Börse online", "Euro am Sonntag" und "Euro"Das Bild zeigt das Logo des LESG Lipper Fund Awards, welchen TBF 2024 für den TBF SMART POWER gewonnen hat
  • Performance
Course dates
Performance in 12-month periods
  • Asset structures
Länderaufteilung
Branchenstruktur
Branchenaufteilung
Währungsaufteilung
  • Fondsdaten CHF I (DE000A12BKD1)

Stand: 02.04.2025

NAV 55,98 CHF
Issue price 55,98 CHF
Redemption price 55,98 CHF
Performance 1 day 0,65 CHF
Performance year-to-date -13,76 %
ISIN DE000A12BKD1
WKN A12BKD
Fund category Share funds
Launch date 24.11.2014
Total fund assets 201,35 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 1,69 % 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
Stand: 28.02.2025
Morningstar Rating™ 3 years
Das Bild zeigt das Logo des Fund Awards 2025, es ist ein goldener Bulle auf einem weißen Kasten in diesem steht "Fund Award 20252 und darunter sind drei Logos "Börse online", "Euro am Sonntag" und "Euro"Das Bild zeigt das Logo des LESG Lipper Fund Awards, welchen TBF 2024 für den TBF SMART POWER gewonnen hat
  • Performance
Course dates
Performance in 12-month periods
  • Asset structures
Länderaufteilung
Branchenstruktur
Branchenaufteilung
Währungsaufteilung
  • Fondsdaten CHF R (DE000A1H44P9)

Stand: 02.04.2025

NAV 73,08 CHF
Issue price 76,73 CHF
Redemption price 73,08 CHF
Performance 1 day 0,85 CHF
Performance year-to-date -13,81 %
ISIN DE000A1H44P9
WKN A1H44P
Fund category Equity funds
Launch date 05.09.2011
Total fund assets 201,35 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 1,84 % 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
Stand: 28.02.2025
Morningstar Rating™ 3 years
Das Bild zeigt das Logo des Fund Awards 2025, es ist ein goldener Bulle auf einem weißen Kasten in diesem steht "Fund Award 20252 und darunter sind drei Logos "Börse online", "Euro am Sonntag" und "Euro"Das Bild zeigt das Logo des LESG Lipper Fund Awards, welchen TBF 2024 für den TBF SMART POWER gewonnen hat
Source: Hansainvest, TBF, Morningstar
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Annette Jäger

Sustainable finance manager
The trained banker began her professional career as a private customer advisor at Dresdner Bank AG in Fulda.

She has 25 years of experience in supporting wealthy private clients in all aspects of asset investment and structuring. In addition to Dresdner Bank AG Deutschland, Dresdner Bank Luxembourg S.A. was also included. and asset management at Sparkasse Bodensee are among her many years of experience.

After successfully completing her studies in business law – sustainability and ethics, she specialized in the area of ​​sustainable finance.
Since the beginning of 2021, she has been responsible for ESG at TBF Global Asset Management GmbH as Sustainable Finance Manager.
Das Bild zeigt TBF Risikomanagerin Birgit Kluge in Portraitaufnahme

Birgit Kluge

Risk manager
Birgit Kluge has been part of the TBF team since May 2011. At the beginning she took responsibility for fund accounting, where she kept the order books and ensured securities settlement.

She was also responsible for futures and foreign exchange trading.
In 2017 she successfully completed the DVFA program AIM - Applied Investment Management to become a certified portfolio advisor.

Birgit Kluge is currently working in risk management at TBF. Here she is responsible, among other things, for monitoring and adhering to the investment limits of our funds.

Dennis Hordorff

Head of risk management
Dennis Hordorff has worked at several international banks such as HSBC Trinkaus & Burkhardt AG and Société Generale during his professional career. His focus here was on the areas of equity capital market and global markets.

He completed his bachelor's degree in business administration with a master's degree in finance at the Frankfurt School of Finance and EBS European Business School.

Dennis Hordorff has been employed at TBF since 2018. At the beginning he worked in the area of ​​multi asset trading. In the meantime, he has taken on the position of Head of Risk Management. Here he is responsible for controlling the risk models in the TBF funds, especially within the framework of the Q factor.

Thomas Pfeifle

Fund manager
Thomas Pfeifle is a portfolio manager at TBF and is responsible for portfolio construction and monitoring, as well as the identification of global best ideas in the equity sector. His academic background includes a trilingual degree in international business administration at the HFU Business School, supplemented by a semester abroad at the Grande École Léonard de Vinci in Paris. He completed his Master of Science in Management at the University of Mannheim with a focus on finance and philosophy. During his master's degree in Mannheim, he gained valuable experience in portfolio management and trading as an intern and working student at TBF before joining the team as a portfolio manager in February 2025. With his global view of stocks, he contributes significantly to the strategic alignment and optimization of portfolios.

Michael Zanker

Fund manager
Michael Zanker startete in der Finanzbranche mit einem dualen Studium an der DHBW Karlsruhe mit einem betriebswirtschaftlichen Studium, welches eine Spezialisierung auf Banken auszeichnet. Nach dem Bachelorabschluss spezialisierte er sich auf das Privatkundengeschäft bei der Volksbank Pforzheim, wobei die Wertpapierberatung prägend war.

In 2018, he began his Master of Science in International Finance, which he completed with honors for his academic achievements. Following this, he worked as a portfolio manager in asset management at Sparkasse Pforzheim Calw. He was responsible for the strategic and tactical asset allocation of three multi-asset funds and the management of foundation portfolios. The main focus of his work was global equity selection. In managing the multi-asset funds, he implemented fundamental valuation models for companies and quantitative methods for portfolio risk management within the investment process.

Since April 2023, Michael Zanker has been working as a portfolio manager at TBF Global Asset Management GmbH, complementing the equity team with a focus on financial, pharmaceutical, and consumer stocks.

Maximilian Dreide

Fund manager
Maximilian Dreide developed a passion for IT early on during his Bachelor's degree in Business Administration at the University of Frankfurt. He was able to deepen his expertise through student trainee positions at a Frankfurt-based FinTech startup, the brokerage firm Jefferies, the automotive supplier Leoni, and TBF.

From 2020 to 2023, he gained further technical product and project management experience at Swisscom, Switzerland's largest IT service provider.

Since January 2023, Maximilian Dreide has rejoined the TBF team, contributing new ideas and expertise to the management of TBF GLOBAL TECHNOLOGY.

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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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