Bericht des Fondsmanagements (Stand: 28.03.2024)
The rapid rise in US interest rates did not leave the stock markets untouched. Technology stocks suffered particularly from the high interest rates and thus had to give back some of their gains from the previous weeks. The Berenberg Sustainable World Equities lost more than its benchmark in August. In particular, DataDog, the US software company for cloud applications, weighed on the fund s performance. DataDog reported disappointing figures with a stronger than expected slowdown in growth. Infineon also gave back the gains from the previous months. Price reductions in the car sector and the slowdown in growth in China are currently weighing on the stock. Mastercard, on the other hand, reported solid quarterly figures and was able to beat growth expectations. Boston Scientific presented the results of its ADVENT trial for Farapulse, a new device for the destruction of body tissue, which was positively received by the market. In August, we opened positions in Mercadolibre, Johnson Control and Novo Nordisk. The combination of increasing competitive pressure and a high valuation led us to sell Adyen.