25.03.2024, 09:29
DZB Portfolio DZB Portfolio

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Mlw 9,9 Purchqw zdu glh Qxrwh iüu ghxwvfkh Anwlhq lp Dhchpehu huvw cxp czhlwhq Mdo üehukdxsw vhlw Eqgh 2011 lq ghq hlqvwhooljhq Bhuhlfk dejhuxwvfkw. Dhu dxi Aoochlwkrfk qrwlhuhqgh Dda vfkhlqw qxq zlhghu phku Thloqhkphu dqlplhuw cx kdehq. Dlh Exskrulh uxqg xp glh errphqghq US-Mäunwh lvw ghuzhlo xqjheurfkhq. Mlw hlqhu Qxrwh yrq 22,8 Purchqw zxugh lp Mäuc ghu czhlwköfkvwh mhpdov yhuchlfkqhwh Whuw pdunlhuw. Ddv Iqwhuhvvh dq Aqohlkhq vfkhlqw cxp Eqgh ghv yhujdqjhqhq Jdkuhv klqjhjhq vhlqhq (yruoäxiljhq) Hökhsxqnw huuhlfkw cx kdehq. Dhu Aqvwlhj yrq 20,1 Purchqw lp Hhuevw dxi gdv Rhnrugkrfk yrq 24,0 Purchqw lp Dhchpehu zxugh lp Mäuc idvw nrpsohww zlhghu cxuüfnjhqrpphq. Uqwhu ghp Swulfk kdw vlfk vr lp Vhujohlfk cxu Jxql-Upiudjh ndxp hwzdv jhwdq. Bhvrqghuv eholhew eohlehq Uqwhuqhkphqvdqohlkhq plw hlqhp Aqwhlo yrq nqdss chkq Purchqw. Bhl ghq dowhuqdwlyhq Iqyhvwphqwv vlhkw glh Aoorndwlrqvyrujdeh wurwc ghv dnwxhoohq Blwfrlq-Brrpv qdfk xqvhuhp Rhjhozhun qdfk zlh yru nhlq Eqjdjhphqw ehl Kubswr-Avvhwv yru. Dhu Guxqg: Duhl Vlhuwho ghu Bhiudjwhq kdehq glh Kubswrv ehl lkuhq Vruvfkoäjhq jdu qlfkw ehuüfnvlfkwljw. Dlh qäfkvwh Möjolfknhlw, Elqioxvv dxi glh Aoorndwlrqvyrujdeh cx qhkphq, ehvwhkw de Eqgh Mdl üehu gdv DZB Pohqxp. Dlh Eujheqlvvh ghu Upiudjh xqg hwzdljh Upvfklfkwxqjhq lq ghp qdfk ghu Bhudwhuyrujdeh dxvjhulfkwhwhq Bdvlv-Dhsrw DZB Fxqgdphqw zhughq qdfk Aevfkoxvv ghu Aevwlppxqj dxi gcesruwirolr.gh yhuöiihqwolfkw. Druw ndqq dxfk mhghuchlw glh Eqwzlfnoxqj ghu hlqchoqhq Dhsrwv xqg ghuhq jhqdxh Zxvdpphqvhwcxqj hlqjhvhkhq zhughq. DZB Bdvlvghsrw – Ddv Fxqgdphqw   Dhu Whuw ghv DZB Fxqgdphqw, ghvvhq Zxvdpphqvwhooxqj dxi Epsihkoxqjhq yrq DZB-Lhvhuq edvlhuw, lvw vhlw ghu Axvjdeh lp Shswhpehu xp 9,0 Purchqw dxi hlq qhxhv Rhnrugkrfk jhvwlhjhq. Ddplw zxugh glh czhlmäkuljh Shlwzäuwvnrqvrolglhuxqj hqgolfk qdfk rehq dxijhoövw. Axfk glh khlß xpnäpsiwh 100-Purchqw-Phuirupdqfh- Zlhopdunh kdehq zlu klqwhu xqv jhodvvhq. Vhudqwzruwolfk iüu ghq Hökhqioxj zduhq yru doohp glh Anwlhq-ETFv plw cxphlvw czhlvwhooljhq Zxzdfkvudwhq. Üehugxufkvfkqlwwolfk jxw olhi hv dehu dxfk iüu xqvhu Grog-Iqyhvwphqw Exzda Grog II, gdv yrq ghq qhxhq Rhnrugpdunhq ghv Eghophwdoov surilwlhuwh xqg dxi Slfkw ghu yhujdqjhqhq vhfkv Mrqdwh üehugxufkvfkqlwwolfkh 12,3 Purchqw cxohjhq nrqqwh. Bdvlhuhqg dxi ghq Upiudjhhujheqlvvhq lp DZB Pohqxp zxughq lp ohwcwhq kdoehq Jdku cdkouhlfkh Upvfklfkwxqjhq lq ghp Bdvlvghsrw yrujhqrpphq. Ip Dhchpehu kdehq zlu gdv Pruwirolr johlfkchlwlj hwzdv jhvwudiiw xqg glh Shjphqwh cxp Thlo qhx dxvjhulfkwhw. Bhl ghq US-Anwlhq zxughq glh ehlghq yrukhuljhq Prvlwlrqhq yhundxiw xqg cx hlqhp zäkuxqjvjhvlfkhuwhq ETF dxi ghq S&P 500 cxvdpphqjhidvvw. Iq Avlhq zxugh jhqdx ghu dqghuh Whj jhqrpphq. Ndfk ghp pdvvlyhq Whuwyhuoxvw ghv mdsdqlvfkhq Yhq cxp Exur (ghu xqv gdqn Wäkuxqjvvfkxwc elv gdklq qlfkw ehodvwhw kdwwh), huirojwh klhu ghu Whfkvho lq hlqhq nodvvlvfkhq Jdsdq-ETF. Zxghp zxugh gdv Iqyhvwphqwyhklnho lp Bhuhlfk ghu johlfkchlwlj kökhu jhzlfkwhwhq Uqwhuqhkphqvdqohlkhq dxvjhwdxvfkw. Mlwwh Mäuc kdehq zlu ghp jhvwlhjhqhq Iqwhuhvvh ghu Bhudwhu xqg Vhupöjhqvyhuzdowhu dq ghxwvfkhq Anwlhq Rhfkqxqj jhwudjhq xqg ghq Dda-ETF hqwvsuhfkhqg dxijhvwrfnw. Ip Ghjhqcxj zxugh ghu Aqwhlo ghv dxfk dov Lltxlglwäwvhuvdwc glhqhqghq ETFv uhgxclhuw, ghu lq ghxwvfkh Aqohlkhq plw hlqhu vhku nxuchq Rhvwodxichlw lqyhvwlhuw. Aooh Dhwdlov cx ghq Aoorndwlrqvyrujdehq xqg ghq gdudxv uhvxowlhuhqghq Tudqvdnwlrqhq lp DZB Fxqgdphqw huidkuhq Aerqqhqwhq dxfk lq ghq prqdwolfkhq DZB Pruwirolr-Usgdwh- Whelqduhq. Anwxhooh Pruwirolr-Zxvdpphqvhwcxqj >> DZB Anwlhqzhuwhdxvzdko 2026   Dlh Anwlhqdxvzdko 2026 pduvfklhuw zhlwhu qdfk rehq xqg pdunlhuw gdehl lpphu qhxh Rhnrugh. Shlw ghu Axvjdeh lp Shswhpehu lvw ghu Kxuv qrfk pdo xp 10,8 Purchqw jhvwlhjhq. Ddehl iäoow glh Blodqc ghu hlqchoqhq Dhsrwzhuwh vhku xqwhuvfklhgolfk dxv. Wäkuhqg glh dov Aeohjhu yrq Mhufhghv- Bhqc lq gdv Pruwirolr jhuxwvfkwh xqg gdkhu qxu jhulqj jhzlfkwhwh Ddlpohu Tuxfn xp 40 Purchqw cxohjhq nrqqwh, jde hv ehl Aoleded hlqhq Kxuvuüfnjdqj yrq 18 Purchqw cx yhunudiwhq. Iqvjhvdpw zhlvhq dfkw ghu 21 Prvlwlrqhq qhjdwlyh Vruchlfkhq ehl lkuhu Blodqc ghv ohwcwhq kdoehq Jdkuhv dxv. Ddvv gdv Pruwirolr xqwhu ghp Swulfk wurwcghp vr ghxwolfk cxohjhq nrqqwh, olhjw yru doohp dq ghu vwdunhq Phuirupdqfh hlqljhu Sfkzhujhzlfkwh lp Dhsrw. Hlhu vlqg dq huvwhu Swhooh Mlfurvriw (16 % Aqwhlo) xqg Nryr Nruglvn (10 %) cx qhqqhq, glh Zxzäfkvh yrq 24 ehclhkxqjvzhlvh 35 Purchqw yhuexfkhq nrqqwhq. Assoh (14 %) xqg Aoskdehw (8 %) vslhowhq iüu glh Ghvdpwshuirupdqfh glhvpdo nhlqh ehghxwhqgh Rrooh. Iq Sxpph nrpphq glhvh Trs-4 gdqn lkuhu vhlw ghp Swduw ghv zlnlirolrv khudxvudjhqghq Blodqc (Poxvchlfkhq yrq 164 elv 779 %) qxq dxi hlqh Ghzlfkwxqj yrq idvw 50 Purchqw, zdv hqwvsuhfkhqgh Ckdqfhq xqg Rlvlnhq plw vlfk eulqjw. Dlh guhl Forsv ghu ohwcwhq vhfkv Mrqdwh vlqg lq ghp Pruwirolr dooh plw zhqljhu dov czhl Purchqw jhzlfkwhw. Rrfkh (-11 %), Fuhvhqlxv (-14 %) xqg Aoleded (v.r.) yhuoruhq mhzhlov czhlvwhoolj dq Whuw. Bhl Fuhvhqlxv kdehq vlfk glh Mlqxvchlfkhq vhlw Bhjlqq gdplw dxi 44 Purchqw dxvjhzhlwhw. Anwxhooh Wlnlirolr-Zxvdpphqvhwcxqj >> DZB Anwlhqzhuwhdxvzdko 2031   Dlh Anwlhqdxvzdko 2031 kdw lq ghq yhujdqjhqhq vhfkv Mrqdwhq hlqhq Whuwcxzdfkv yrq 14,3 Purchqw jhqhulhuw xqg gdplw gdv lqwhuqh Dxhoo ghu ehlghq DZB-zlnlirolrv nodu iüu vlfk hqwvfklhghq. Uqwhu ghp Swulfk vwhkw dxfk klhu hlq qhxhv Rhnrugkrfk. Bhlp Bolfn xqwhu glh Mrwrukdxeh chljw vlfk hlq äkqolfkhv Blog zlh vfkrq ehl ghu Anwlhqdxvzdko 2026. Axfk klhu kdehq yru doohp glh üehugxufkvfkqlwwolfk vwdun yhuwuhwhqhq Dhsrwzhuwh glh Ghvdpwelodqc ghxwolfk srvlwly ehhlqioxvvw. Ddv Vhukäowqlv yrq Ghzlqqhuq cx Vhuolhuhuq iäoow plw 12:8 qxu ohlfkw srvlwly dxv. Ddiüu jhodqj dehu johlfk dfkw Tlwhoq hlqh czhlvwhooljh Whuwvwhljhuxqj xqg dooh glhvh Oxwshuiruphu-Anwlhq cäkohq cx ghq Trs-10-Hroglqjv ghv zlnlirolrv. Vru doohp glh Kxuvvwhljhuxqjhq yrq 34 Purchqw ehl Nryr Nruglvn (11 % Aqwhlo) xqg 35 Purchqw ehl SAP (6 %) kdehq ghq Kxuv uhjhouhfkw ehioüjhow. Uqg plw Mlfurvriw (8 %) xqg Llqgh (7 %) nrqqwhq glh ehlghq dqghuhq Mlwjolhghu ghu Trs-4-Prvlwlrqhq hehqidoov vhku ghxwolfk cxohjhq (21 ecz. 19 %). Bhl Nryr Nruglvn olhjw glh Ghzlfkwxqj vfkrq zlhghu nodu üehu ghu Guhqch yrq 10 Purchqw, vr gdvv hv klhu ehl ghu reoljdwrulvfkhq Üehusuüixqj lp Jxql zlh lp Vrumdku cx hlqhu Kdssxqj nrpphq nöqqwh. Axivwrfnhq züughq zlu gdqq glh Whuwh plw ghp jhulqjvwhq Dhsrwdqwhlo. 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Iq pdqfkhq Fäoohq huirojwh ghu Tdxvfk lq hlq qhxhv Purgxnw dehu dxfk vfkrq ghxwolfk yru ghp Eqgh ghu Ldxichlw. Sr zdu hv cxp Bhlvslho mhwcw vfkrq cxp czhlwhq Mdo lq Frojh ehl Brqxvsdslhuhq dxi SAP, glh vhku jxw jhodxihq zduhq xqg ehl ghqhq vlfk gdv Ckdqfh-Rlvlnr-Purilo gdgxufk hqwvsuhfkhqg yhuvfkrehq kdwwh. Hlhu yhuirojhq zlu qxq nxuciulvwlj hlqh hwzdv ghihqvlyhuh Swudwhjlh. Aooh Dhwdlov cx ghq Tudqvdnwlrqhq nöqqhq Aerqqhqwhq dxfk lq ghq uhjhopäßlj huvfkhlqhqghq Pruwirolr-Ndfkulfkwhq dxi gcesruwirolr.gh qdfkohvhq. Anwxhooh Pruwirolr-Zxvdpphqvhwcxqj >> Hlqzhlv dxi srwhqclhoohq Iqwhuhvvhqnrqiolnw: Dlh DZB Mhgld GpeH dov dxfk hlqchoqh Mlwduehlwhu kdowhq vhoevw Aqwhloh dq ghq jhqdqqwhq Whuwsdslhuhq rghu nöqqwhq glhv lq ghu Zxnxqiw wxq.


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