Mainberg Special Situations Fund HI SI

Status: 11/06/2025

Fund profile

ISIN DE000A40J9V9
WKN A40J9V
Inception date
Total fund assets 82.4 M EUR
Share class currency EUR
Current issue price EUR103.69 (11/07/2025)
Current return price EUR103.69 (11/07/2025)
Annual high (redemption price) EUR104.07 (08/29/2025)
Annual low (redemption price) EUR99.37 (04/08/2025)
Performance current year n/a (11/07/2025)
Issue charge 0.00 %
Redemption charge 0.00 %
End of fiscal year Dec 31
Dividend Accumulating
Total expense ratio 1.05 % p.a.
Management fee   therefrom 0.95 % p.a.
Custodian fee   therefrom 0.07 % p.a.
Capital accumulation benefits capable no
Savings plan no
Single payment yes (min EUR5,000,000.00)
Conformity yes
Registered for distribution DE , AT

Comment

In the calendar month of October, the Mainberg Special Situations Fund (I-Tranche) achieved a performance of +0.38%. The annualized volatility for the month was 2.73%.

Portfolio Component: Merger Arbitrage
At the turn of the month, the Merger Arbitrage segment accounted for 32% of the portfolio (previous month: 31%). This segment currently includes 14 equities from six countries, each in different stages of takeover processes. The three largest positions are currently Covestro (Germany), Iveco Group N.V. (Netherlands/Italy), and JDE Peet's N.V. (Netherlands). The Just Eat Takeaway (Netherlands) case has been successfully completed. We have reduced our position in Kellanova Co. (USA) after the spread narrowed significantly in our favor.

Portfolio Component: Domination Agreements
With a current weighting of 42%, the Domination Agreements segment continues to represent the largest component of the fund. The premium level relative to the respective hedge ratio has remained stable. We therefore continue to benefit from the base yield of currently 6.27% p.a. (base rate + 5%) with very low volatility. There were no significant news items regarding individual positions during the period.

2025/10/31

Opportunities

  • The Mainberg Special Situations Fund has an asymmetric risk profile
  • The performance of the fund is decoupled from the overall market
  • There is a disciplined risk diversification

Risks

  • Price losses due to market-related fluctuations
  • Default risks: Transactions with various contractual partners who can no longer meet their obligations
  • Information on further risks can be found in the Basisinformationsblatt and the VKP .
  • In particular, the fund shows increased fluctuations in the unit price due to its composition and the possible use of derivatives.

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