Mainberg Special Situations Fund HI SI

Status: 02/03/2026

Fund profile

ISIN DE000A40J9V9
WKN A40J9V
Inception date
Total fund assets 95.1 M EUR
Share class currency EUR
Current issue price EUR104.89 (02/05/2026)
Current return price EUR104.89 (02/05/2026)
Annual high (redemption price) EUR105.20 (01/26/2026)
Annual low (redemption price) EUR104.34 (01/05/2026)
Performance current year 0.41 % (02/05/2026)
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

Key figures

Percentage of assets invested 98.76 %
Liquidity ratio 0.498592
VaR 3.09 %

Comment

In the calendar month of December, the Mainberg Special Situations Fund (SI-Tranche) recorded a positive performance of +0.45%. Annualized volatility in December was 2.03%.

Portfolio building block: Merger Arbitrage
At month-end, the Merger Arbitrage allocation was 34% (previous month: 36%) of the portfolio. This segment currently comprises 12 equities across five countries, which are at different stages of takeover processes. Larger positions currently include Iveco Group (Netherlands), JDE Peet's (Netherlands) and Aedas Homes (Spain). The takeover situation Covestro (Germany), which accompanied us for almost the entire 2025 calendar year, was successfully completed in December.

Portfolio building block: Domination and profit-and-loss transfer agreements (DPLTAs)
With a current weighting of 41% (unchanged from the previous month), the DPLTA segment remains the fund's largest building block. Over the course of the second quarter, the weighting was slightly reduced from around 50%, after premia increased moderately relative to the respective hedging levels.

2025/12/31

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.