GREIFF "special situations" Fund -F-

Status: 12/02/2024

Fund profile

ISIN LU2731339920
WKN A3ETA2
Inception date
Total fund assets 50.0 M EUR
Fund currency EUR
Current issue price EUR102.02 (12/03/2024)
Current return price EUR102.02 (12/03/2024)
Annual high (redemption price) EUR102.36 (10/21/2024)
Annual low (redemption price) EUR99.10 (04/29/2024)
Performance current year n/a (12/03/2024)
Issue charge 0.00 %
Redemption charge 0.00 %
End of fiscal year Jun 30
Dividend Accumulating
Total expense ratio 0.86 % p.a.
Management fee   therefrom 0.71 % p.a.
Custodian fee   therefrom 0.04 % p.a.
Capital accumulation benefits capable no
Savings plan no
Single payment yes (min EUR1,000,000.00)
Conformity yes
Registered for distribution DE , FR , LU , AT

Comment

Dirk Sammüller

Dirk Sammüller

M&A activities remained at a low level, as is to be expected seasonally, and were therefore not even remotely as spectacular as the movements of the stock markets in August. After more than a year of "approaching", the Abu Dhabi National Oil Company, or Adnoc for short, appears to be about to complete its due diligence and is therefore ready for a takeover offer for Covestro. Market participants have then started to price in an offer from Abu Dhabi of EUR 62 per Covestro share. Software AG has closed its trading chapter for the time being, the squeeze-out has been entered in the commercial register and the stock exchange listing has been discontinued. Otherwise, more was happening behind the scenes than in front of the scenes. Deutsche Bank, for example, reached settlements with a large number of the plaintiffs in the legal dispute over the Postbank takeover. Including interest, an agreement of EUR 56 was reached. The Greiff "special situations" Fund could benefit significantly if a similar additional payment is made in the squeeze-out proceedings. A bombshell in court! The Federal Fiscal Court ruled, based on the case law of the European Court of Justice, that foreign funds must also be granted the tax benefits regulated in Section 11 of the Investment Tax Act 2004, including an interest rate of 6 % p.a. For the fund, this would be a very positive development in view of the period and the amount of taxes withheld.

08/30/2024

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