Mainberg Special Situations Fund HI SI

Status: 03/19/2026

Fund profile

ISIN DE000A40J9V9
WKN A40J9V
Inception date
Total fund assets 105.1 M EUR
Share class currency EUR
Current issue price EUR105.49 (03/20/2026)
Current return price EUR105.49 (03/20/2026)
Annual high (redemption price) EUR105.83 (03/02/2026)
Annual low (redemption price) EUR104.34 (01/05/2026)
Performance current year 0.99 % (03/20/2026)
ø Performance
Since launch p.a.
5.20 % (03/20/2026)
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 89.21 %

Comment

In the calendar month of February, the Mainberg Special Situations Fund (SI-Tranche) recorded a positive performance of +0.44%. Annualized volatility in February stood at 2.17%.
Since the beginning of 2026, the Fund has generated a return of +1.01% with a volatility of 2.36%.
Portfolio Building Block: Domination Agreements
With a current weighting of 39% (unchanged from the previous month), the Domination Agreements segment continues to represent the Fund's largest building block. Over the course of the second half of 2025, the weighting was gradually reduced - from around 50% - as premiums increased relative to the respective hedging levels. This trend continued throughout February. Nevertheless, this segment remains a steady source of returns with downside-limited risk.
Portfolio Building Block: Merger Arbitrage
At month-end, the Merger Arbitrage segment accounted for 38% of the portfolio (unchanged from the previous month). This area currently comprises 14 equities across six countries that are in different stages of takeover processes. Larger positions are currently held in JDE Peet's (Netherlands), Iveco Group (Netherlands/Italy), and Aedas Homes (Spain). The key change compared to the previous month is that we took profits in Iveco, which reduced the weighting. The capital released was invested in a new takeover situation in Germany.

This segment continues to provide a steady source of returns with downside-limited risk, even though premiums tied to price floors (e.g., via tender rights granted to major shareholders) have increased recently.
2026/02/28

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.