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Disclaimer
To continue, please select your country of domicile and investor type. Depending on your domicile and the investor type that you select, you will have full or restricted access to the information due to legal reasons.

Retail clients: according to Art. 4 Abs. 2 FinSA

Professional/Institutional investors: according to Art. 4 paragraph 3-5 and Art. 5 paragraph 1 and 3-4 FinSA and Art. 10 paragraph 3 and 3ter CISA in conjunction with Art. 6a CISO

Important

Principles 

By using the website www.bellevue.ch, you confirm that you have read, understood and accepted the general information provided by the Bellevue Group AG as well as these legal provisions. These may be subject to change and the use of the site may be restricted or terminated at any time without prior notice.

No recommendation and/or offer for subscription (or for purchase) and/or redemption (or for sale)

The information, products, data, services, tools and documents contained or described on this site ("website content") are for information purposes only and constitute neither an advertisement or recommendation nor an offer or solicitation (to buy) or redemption (sell) investment instruments, to effect any transaction or to enter into any legal relations.

The financial products mentioned on this site are not suitable for all investors. The information contained on this site does not constitute a financial, legal, fiscal or any other recommendation. Investment or other decisions should not be made solely on the basis of this document. In particular, you should not enter into any investment before you have read the corresponding fund agreement or legal prospectus, the annual and semi-annual reports, the articles of association (as far as they are applicable), as well as all other documents, as required in accordance with local legislation or the regulations applied in the legal jurisdictions or countries in which the corresponding investment fund has been licensed or approved for public offer or sale to the public.rlich sind.

The financial products mentioned on this site are not suitable for all investors. The information contained on this site does not constitute a financial, legal, fiscal or any other recommendation. Investment or other decisions should not be made solely on the basis of this document. In particular, you should not enter into any investment before you have read the corresponding fund agreement or legal prospectus, the annual and semi-annual reports, the articles of association (as far as they are applicable), as well as all other documents, as required in accordance with local legislation or the regulations applied in the legal jurisdictions or countries in which the corresponding investment fund has been licensed or approved for public offer or sale to the public.

In order to determine whether the investment in shares of a certain investment fund meets your specific requirements and matches your envisaged risks, we recommend that you contact an independent financial adviser. Furthermore, we recommend that you consult an independent tax adviser in order to obtain information on the tax regulations relating to a specific investment in your legal jurisdiction and with regard to your personal circumstances. In particular tax treatment depends on individual circumstances and may be subject to change.

As the funds are recognised (ie. registered) but not authorised in the UK, the UK Financial Services Authority's financial services compensation scheme does not apply to investments in the fund but the Financial Services Authority regulated firm approving this document for the purposes of UK regulation has taken reasonable steps to satisfy itself that Bellevue will deal in an honest and reliable way and is so satisfied.

Performance

Past performance is not an indication or guarantee of the future performance of the investment. The value of investments may be subject to fluctuations and, under certain circumstances, investors may not get back the full amount invested. The performance data are calculated without taking account of commissions and costs that result from subscriptions and redemptions and commissions and costs have a negative impact on performance. Changes in foreign-exchange rates may also cause the value of investments to go up or down.

Target group of the sites 

The sites are intended exclusively for use by legal entities and natural persons having their registered office or residing in countries in which the investment funds or the related subfunds or share classes of the Bellevue Group have been properly licensed or approved for public offer or sale in accordance with the applicable local legislation. The funds are currently registered for public distribution offer in the following countries: Luxembourg, Switzerland, Germany, Austria and Spain. In all other countries, the funds may, if any, via "Private Placement" according to the local applicable laws.

It is explicitly stated, that alternative fund products are not allowed for public distribution in any country and that they may only and exclusively be solicited to institutional and qualified private investors according to the applicable local laws of each country.

The information and services provided on the sites are not intended for offer to or use by legal entities or natural persons in legal jurisdictions or countries in which the offer or use thereof would violate local legislation or legal provisions, or in which business units forming part of Bellevue Group would be subject to registration requirements in such jurisdictions or countries. Legal entities or natural persons to which such prohibitions apply must not access or use these sites.

The Bellevue funds have NOT been licensed for public offer or sale to the public in the United States in accordance with the US Investment Company Act of 1940 or the US Securities Act of 1933, or in Canada, Japan, Taiwan, Malaysia, Hong Kong or Israel in accordance with the laws in force in those countries. Therefore, particular importance is attached to ensuring that these sites are not intended for legal entities or natural persons, who have their registered office or who reside in such countries, their territories or dependencies or who, on account of their citizenship or similar status, are subject to the law of one of these countries.

Fund documents Luxembourg Fund

Bellevue SICAV: The Bellevue Funds (Lux) SICAV is admitted for public offering and distribution in Switzerland . Representative agent in Switzerland   Waystone Fund Services (Switzerland) SA, Avenue Villamont 17, CH-1005 Lausanne and paying agent in Switzerland: DZ PRIVATBANK (Schweiz) AG Münsterhof 12, PO Box, CH-8022 Zürich . The Bellevue Funds (Lux) SICAV is admitted for public distribution in Austria . Paying and information agent : Erste Bank der oesterreichischen Sparkassen AG, Graben 21 , A - 1010 Vienna . The Bellevue Funds (Lux) SICAV is admitted for public distribution in Germany . Paying and information agent : Bank Julius Bär Europe AG, An der Welle 1 , P . O . Box, D - 60062 Frankfurt a . M . The Bellevue Funds (Lux) SICAV is registered with the CNMV under the number 938 . Prospectus, Key Investor Information Document (“KIID”), the articles of association as well as the annual and semi - annual reports of the Bellevue Funds under Luxembourg law are available free of charge from the above mentioned representative, paying, facilities and information agents as well as from Bellevue Asset Management AG, Seestrasse 16 , CH - 8700 Kusnacht. 

StarCapital: You can obtain the sales prospectus, the annual reports and the german key investor information documents free of charge from StarCapital AG, and also from banks and financial advisers. Paying agent in Switzerland is DZ PRIVATBANK (Schweiz) AG, Münsterhof 12, PO Box, CH-8022 Zurich. The swiss agent is IPConcept (Schweiz) AG, In Gassen 6, PO Box, CH-8022 Zurich. In Switzerland you can obtain sales prospectus, the annual reports and the german key investor information documents free of charge from the agent and also from the paying agent. 

Fund documents Bellevue Entrepreneur Switzerland

Prospectus, Key Investor Information Document („KIID“), fund contract as well as the annual and semi - annual reports of the Bellevue Fund under Swiss law are available free of charge from: Switzerland : PMG Fonds Management AG, Sihlstrasse 95 , CH - 8001 Zürich or Bellevue Asset Management AG, Seestrasse 16, CH - 8700 Kusnacht. 

Fund documents Bellevue Funds and Bellevue Healthcare Strategy

Prospectus, Key Investor Information Document („KIID“), fund contract as well as the annual and semi - annual reports of the Bellevue Medtech and Services fund established under Swiss law in the category "Other Funds for Traditional Investments" are available free of charge from : Switzerland : Swisscanto Fondsleitung AG, Bahnhofstrasse 9 , CH - 8001 Zürich or Bellevue Asset Management AG, Seestrasse 16 , CH - 8700 Kusnacht

Fund documents StarCapital Equity Value plus, StarCapital Multi Income, StarCapital Strategy 1 and StarCapital Dynamic Bonds.

Prospectus, the key investor information document (KIID), the management regulations and the semi-annual and annual report are available free of charge in German from StarCapital AG, your advisor or intermediary, the paying agents, the relevant custodian bank or from the management company IPConcept (Luxembourg) S.A. (société anonyme), 4, rue Thomas Edison, L-1445 Luxembourg, Luxembourg, https://www.ipconcept.com. For information on opportunities and risks as well as tax information, please refer to the current detailed sales prospectus. Further information on investor rights can be found on the Management Company's website (https://www.ipconcept.com). The management company may decide to cancel the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.

Fund documents Bellevue Option Premium fund

Prospectus, the key investor information document (KIID), the management regulations and the semi-annual and annual reports are available free of charge in German from StarCapital AG, your advisor or intermediary, the paying agents, the responsible depositary (UBS Europe SE, Bockenheimer Landstrasse 2-4, D-60306 Frankfurt am Main) or from the management company Universal-Investment-Gesellschaft mbH, Theodor-Heuss-Allee 70, D-60486 Frankfurt am Main, https://www.universal-investment.com. For information on opportunities and risks as well as tax information, please refer to the current detailed sales prospectus. Further information on investor rights can be found on the Management Company's website (https://www.universal-investment.com). The management company may decide to cancel the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.

 Fund documents StarCapital Premium Bonds plus  

Prospectus, the key investor information document (KIID), the management regulations and the semi-annual and annual reports. These can be obtained free of charge in German from StarCapital AG, your advisor or intermediary, the paying agents, the responsible depositary (UBS Europe SE, Bockenheimer Landstrasse 2-4, D-60306 Frankfurt am Main) or from the management company Donner & Reuschel AG, Ballindamm 27, 20095 Hamburg, https://www.donner-reuschel.de. For information on opportunities and risks as well as tax information, please refer to the current detailed sales prospectus. Further information on investor rights can be found on the Management Company's website (https://www.universal-investment.com). The management company may decide to cancel the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.

Data protection

By accessing this website you state that you agree with the data protection statement. If you do not agree with this statement you should refrain from accessing any further pages of this website. This statement may be updated at any time. We therefore recommend that you check this statement regularly.

Confirmation

By clicking on "Accept", you confirm that you agree to the legal provisions. Alternatively, you can select "I don't accept" if you wish to leave the website.

Bellevue Option Premium

The fund generates returns through the sale of options, providing an alternative source of income.

The risk is limited by an additional hedging strategy.

The investment process is rule-based and free from market timing aspects.

Please select a share class.

Please find a more detailed description of share classes here.

Investment Focus

ISIN-No. DE000A2QSGK8

The Fund’s objective is to generate a steady flow of income from option premiums by writing puts on the S&P 500 Index. Some of the option premiums received are used to purchase hedges against a sharp fall in the S&P 500 index and an increase in expected volatility (range of fluctuation). The resulting surplus premiums represent the Fund's expected income. The underlying core portfolio is invested in interest-bearing, euro-denominated investment grade securities. The Fund's investment process for its core portfolio also takes ESG factors into consideration.

Indexed performance (as at: 27.09.2022)

NAV: EUR 89.71 (22.09.2022)


Fund (gross)
01 Jan 2010 - 01 Jan 2010
An error occurred - no data to display
I-EUR
Benchmark

Rolling performance (26.09.2022)

I-EURBenchmark
24.09.2021 - 26.09.2022-13.25%n.a.

Annualized performance (26.09.2022)

I-EURBenchmark
1 year-13.25%n.a.
Since Inception p.a.-10.58%n.a.

Cumulative performance (26.09.2022)

I-EURBenchmark
1M-8.09%n.a.
YTD-16.06%n.a.
1 year-13.25%n.a.
Since Inception-12.55%n.a.

Investment Focus

The Fund’s objective is to generate a steady flow of income in the form of option premiums. Option premiums are systematically generated by writing puts on the S&P 500 index. Some of the option premiums received are used to purchase hedges against a sharp fall in the S&P 500 index and an increase in expected volatility (range of fluctuation). The hedging strategy entails the purchase of put options on the S&P 500 Index with a lower strike price and the purchase of call options on the CBOE Volatility Index (VIX). The resulting surplus premiums represent the Fund's expected income. In addition to the hedging strategy, the timing risk of the put options is minimized by means of a proprietary rule-based approach. Disciplined implementation of this concept in the StarCapital Option Premium Fund results in a steady, diversified flow of income in the form of option premiums. The underlying core portfolio consists of investment grade securities denominated in euro (AAA to BBB- based on the credit rating scale of Standard & Poor's and Fitch, and AAA to Baa3 based on the credit rating scale of Moody's). These securities are primarily sovereign bonds, country bonds, supranational bonds, bonds with government guarantees and covered bonds, and the fund has a small corporate bond allocation. The aim is to avoid credit risks to the maximum extent possible. The Fund’s investment process for its core portfolio also takes ESG factors into consideration.
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Investment suitability & Risk

SRRI

Low risk

High risk

General Information

CustodianUBS Europe SE
Fund AdministratorUniversal-Investment-Gesellschaft GmbH
AuditorKPMG AG Wirtschaftsprüfungsgesellschaft
Year end closing30. Jun
NAV CalculationDaily "Forward Pricing"
Management Fee0.75%
ISIN numberDE000A2QSGK8
BloombergSTSOPIE GR
WKNA2QSGK

Legal Information

Legal formOGAW-Sondervermögen deutschen Rechts
SFDR categoryArticle 8

Opportunities

  • The collection of risk premiums from the option concept offers attractive return opportunities.
  • The additional hedging concept is intended to provide hedging at low cost and simultaneous protection against large losses through combinations of bought and sold put and call options on U.S. and European equity and volatility indices

Risks

  • The unit value may be subject to strong fluctuations and may fall below the purchase price of the fund at any time.
  • The fund invests primarily in bonds. Their issuers may become insolvent.
  • The fund may be adversely affected by changes in exchange rates, interest rates or credit ratings.
  • Losses from the option concept may exceed the income from the investments in the Eurobonds.

Past performance is not a reliable indicator of future results and can be misleading. As the subfund is denominated in a currency that may differ than an investor’s base currency, changes in the rate of exchange may have an adverse effect on prices and incomes. Performance is shown net of fees and expenses for the relevant share class over the reference period. All performance figures reflect the reinvestment of dividends and do not take into account the commissions and costs incurred on the issue and redemption of shares, if any. Individual costs are not taken into account and would have a negative impact on the performance. With an investment amount of EUR 1,000 over an investment period of five years, the investment result in the first year would be reduced by the front-end load of up to EUR 50 (5%) as well as by additional individual custody charges. In subsequent years, the investment result would also be reduced by the individual custody account costs incurred. The reference benchmark of this class is used for performance comparison purposes only (dividend reinvested). No benchmark is directly identical to a subfund, thus the performance of a benchmark is not a reliable indicator of future performance of the subfund it is compared to. There can be no assurance that a return will be achieved or that a substantial loss of capital will not be incurred.Show moreShow less

  • Portfolio Manager

    Klaus Spöri

    Klaus Spöri started in 2019 as Senior Portfolio Manager Fixed Income at Bellevue Asset Management (Deutschland) GmbH. He worked in different companies as a fund manager and senior portfolio manager (Löwenfinanz AG, LBBW Asset Management, ODDO BHF Asset Management). He owns a CEFA certificate,
  • Portfolio Manager

    René Weißmann

    René Weißmann joined Bellevue Asset Management (Deutschland) GmbH in 2018 as Data Warehouse Architect and Portfolio Manager. Previously, the graduate in business informatics worked as a business analyst and business consultant (Lupus Alpha Business Solutions GmbH, SimCorp GmbH un Börse Stuttgart AG).
  • Portfolio Manager

    Simon Westendorf

    Simon Westendorf joined Bellevue Asset Management (Deutschland) GmbH as a portfolio manager in 2018. He has been Head of Equity Fund Management since 2021. He started his professional career as a graduate trainee at Deutsche Bank. He holds a Master of Science in Management (Finance and Accounting).
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