Distribution Czech Republic

KEPLER-FONDS KAG is one of the top 4 among 21 Austrian investment companies. Assets under management: EUR 18,07 billions invested in 132 funds.

Approved for distribution in the Czech Republic:

Dynamic Invest

Other mutual funds are not approved for distribution in the Czech Republic.

Releases / Documents:


 

Information pursuant to Article 3 Regulation (EU) 2019/2088 (Sustainability-Related Disclosures)


Within KEPLER-FONDS Kapitalanlagegesellschaft m.b.H. (KEPLER), the investment decision process with regard to sustainability and related risks (Environmental Social Governance - ESG) is implemented as follows:
 

An ESG committee collates topics relating to sustainability/ESG, prepares a basis for decision-making, undertakes a consultative function for the executive management with regard to KEPLER’s strategic orientation in connection with ESG and coordinates the realisation of KEPLER ESG projects.
 

For all KEPLER mutual funds, it applies that no investments are made in agricultural products via derivatives. In addition, all of the single-title mutual funds managed by KEPLER and the KEPLER high-yield corporate pension funds are subject to sustainability criteria, which are implemented in the form of exclusion criteria. Divestments in the field of fossil fuels are pursued through the successive exclusion of investments in coal producers and companies in the areas of high volume fracking and oil sands (in both cases from a certain sales revenue limit). Furthermore, the controversial weapons exclusion criterion is also considered.
 

In addition, with regard to a group of funds that are explicitly oriented towards sustainability, further sustainability criteria are taken into account and implemented in the course of a best in class approach (positive lists) and an extensive catalogue of exclusion criteria (sector-based screening and controversial business areas, as well as norm-based screening and controversial business practices). In order to facilitate systematic implementation, ISS ESG regularly supplies KEPLER with information from which investable financial instruments can be extrapolated.

Sustainability criteria are subject to constant surveillance and in the case of new knowledge and market developments can be augmented or modified. The data employed may be incomplete, imprecise or temporarily unavailable.

Adherence to the aforementioned sustainability criteria is continually subject to risk management monitoring on the basis of the available cover. As a consequence, a conscious approach to sustainability risks is assured. A divestment is started when risk management requires it for the fulfilment of sustainability criteria.    

 

Moreover, a group of sustainable KEPLER mutual funds possess the following certification:

  • EUROSIF transparency logo
  • The UZ 49 Austrian eco-label

 

KEPLER also participates in selected sustainability initiatives and details are available under:

Information pursuant to Article 4 Regulation (EU) 2019/2088 (Sustainability-Related Disclosures)

 

KEPLER sees the areas of fossil fuels, controversial weapons and agricultural products via derivatives as harbouring the potentially most disadvantageous effects upon sustainability. Therefore, it has established sustainability criteria for the KEPLER mutual funds, which are intended to prevent, or at least reduce, the negative impacts on environmental and social sustainability caused by financial market participants and companies.    

 

Since 2014, a rule has applied for all KEPLER mutual funds that no investments are to be made in agricultural products via derivatives until the question as to whether financial investors have exerted a negative influence on agricultural raw material prices and fluctuations has been clearly resolved. 
 

In addition, as from 2020 sustainability criteria, which are implemented in the form of exclusion criteria, apply to all of the single-title mutual funds managed by KEPLER, as well as KEPLER high-yield corporate pension funds.
 

In concrete terms, divestments in the field of fossil fuels are pursued through the successive exclusion of investments in coal producers (including thermal and metallurgical coals from a sales revenue limit of 20%) and companies in the areas of high volume fracking and oil sands (in both cases from a sales revenue limit of 10%).
 

In order to facilitate systematic implementation, KEPLER’s partner ISS ESG regularly provides information relating to systematic implementation from which investable financial instruments can be extrapolated. An exclusion criteria violation results when corresponding information is supplied in the comprehensive sustainability and controversy research furnished by ISS ESG.
 

The “controversial weapons” exclusion criterion bars any issuers of investments that are proven to have an involvement in controversial weapons, their key components or equipment for their employment. The weapon categories taken into account consist of anti-personnel mines, biological and chemical weapons, incendiary weapons, white phosphorus projectiles, nuclear weapons (both within and outside the Non-proliferation Treaty), cluster munitions and uranium munitions and armour.
 

In addition, on a portfolio level, ESG minimum criteria on the basis of ISS ESG corporate and country ratings (or the ISS ESG performance scores extrapolated from the aforementioned ratings) have been determined for all KEPLER funds in order to not only limit sustainability risks in this respect, but also the negative effects of companies upon the environment and society.
 

Furthermore, with regard to a group of funds that are explicitly oriented towards sustainability (KEPLER ethic funds and KEPLER environmental share funds), further sustainability criteria are taken into account and implemented through a best in class approach (positive lists) and an extensive catalogue of exclusion criteria (sector-based screening and controversial business areas, as well as norm-based screening and controversial business practices).
 

Sustainability criteria and potentially disadvantageous effects upon sustainability are subject to constant surveillance and in the case of new knowledge and market developments can be augmented or modified.
 

Adherence to the aforementioned sustainability criteria is the object of continuous risk management monitoring. This ensures a conscious approach to both sustainability-related risks and negative impacts. A divestment is started when risk management requires it for the fulfilment of sustainability criteria.


KEPLER exercises voting rights independently and solely in the best interests of stockholders from a share of more than 1% in the voting rights in a company (calculated in terms of all the investment funds administered by KEPLER and its asset management mandates). Owing to the high degree of diversity of these investments and hence the limited participation in individual companies, as well as its quantitative investment strategy, KEPLER does not carry out any on-the-spot visits to the companies in which it has investments. No cooperation takes place with other stockholders or with relevant stakeholders in the companies in which investments are held. Should a violation of ESG criteria occur in relation to an investment process for the KEPLER ethic funds, KEPLER contacts companies directly. Moreover, work is currently in progress on the implementation of a proxy voter that will assume the exercise of the voting rights of the titles held in the funds in accordance with defined KEPLER policy. The bases for voting include issues such as the greatest possible transparency for investors and future adherence to ESG principles.

Details and the obligatory annual publication are available under:  

https://www.kepler.at/de/service/infocenter/downloads.html

 

Code of conduct for responsible company management


As part of meticulous compliance manual, KEPLER disposes over a detailed code of conduct and thus precise guidelines to which all employees must adhere. The code of conduct defines KEPLER’s fundamental values and forms a basis for a corporate culture with an ethical orientation. This guarantees that the highest standards are maintained with regard to our social and ethical conduct.    

 

Internationally recognised standards for the due diligence obligation and reporting


KEPLER has been a UN PRI signatory since 2014.


The United Nations’ Principles for Responsible Investment (PRI) were drawn up with the aim of developing principles for responsible portfolio management. They reflect the increasing significance of the environment, social and corporate management for investment decisions, which overall is referred to internationally as environmental social governance, or ESG for short.  

 

The UN PRI incorporate a total of six principles:

 

1.    We will incorporate ESG issues into investment analysis and decision-making processes.

2.    We will be active owners and incorporate ESG issues into our ownership policies and practices.  

3.    We will seek appropriate disclosure on ESG issues by the entities in which we invest.

4.    We will promote acceptance and implementation of the principles within the investment industry.

5.    We will work together to enhance our effectiveness in implementing the principles.

6.    We will each report on our activities and progress towards implementing the principles.

 

KEPLER has been a Montreal Carbon Pledge signatory since 2017.


The Montréal Carbon Pledge was launched on 25 September 2014 at a “ PRI in Person” meeting. This initiative is underpinned by the UN Principles for Responsible Investment (UNPRI) and the United Nations Environment Programme Finance Initiative (UNEP FI).
 

Above all, the Pledge is aimed at achieving greater transparency with regard to the CO2 footprint of share portfolios and in the long-term also wishes to contribute to its reduction. By signing the Pledge, investors assume an obligation to carry out the measurement of the carbon footprint of at least one portfolio annually and then disclose the results.     

The KEPLER-FONDS KAG established for investor complaints an effective and transparent procedure:

Procedures for handling invester complaints

Risk information and exclusion of liability
This document is a marketing communication prepared by KEPLER-FONDS Kapitalanlagegesellschaft m.b.H. (KEPLER-FONDS KAG), 4020 Linz, Austria. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research. This marketing communication is neither an investment advisory service nor a recommendation to buy or sell nor an offer or an invitation to submit an offer to buy or sell financial instruments or other investments. The details, analyses and forecasts in the document are based on the state of knowledge and the assessment of the market at the time when the document was prepared – subject to changes and amendments. KEPLER-FONDS KAG neither assumes any liability for the accuracy, currentness and completeness of the data contained nor that forecasts will occur. The contents are without obligation. The same applies to the content of any website to which is referred by hyper link. Since every investment decision requires individual adjustment to the personal situation (e.g. readiness to assume risk) of the investor, this information does not replace personal advice and information about risk within the framework of a personal consultation. We expressly point out that financial instruments and other investments may lead to considerable risks. Information concerning performance relates to the past and therefore does not represent a reliable indicator of future trends. In case of non-euro investments, currency fluctuations may either increase or reduce the performance. Tax obligations may result from the investment depending on the respective, personal circumstances of the investor and may be subject to future changes. Accordingly, this information cannot substitute the individual advice of the investor by a tax consultant. The limited tax liability of non-residents in Austria doesn’t implicate an exemption from taxation in their country of residence. Performance is determined on the basis of published net asset values by using the Oesterreichische Kontrollbank AG method. Attention is expressly drawn to the fact that the composition of fund assets can alter in conformity with statutory regulations. Within the scope of the portfolio strategy of investment funds substantial investments may be made in investment funds, bank deposits or derivatives as well as a reproduction of an index might be intended. Funds may show increased fluctuations in value (volatility). In line with the fund provisions, approved by the Austrian Financial Market Authority (FMA), issuers can be specified, that can be weighted by more than 35% of the funds value. Market-related low or negative returns of money market instruments or bonds may influence the net asset value of investment funds in a negative way or might not be sufficient to cover the ongoing charges.
© 2021 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For more detailed information about Morningstar Rating, including its methodology, please go to: https://www.morningstar.com/resources/marketing/shared/research/methodology/771945_Morningstar_Rating_for_Funds_Methodology.pdf
Current Prospectuses (with regard to UCITS) and the Key Investor Information Document (KIID) are available free of charge in German at KEPLER-FONDS KAG, Europaplatz 1a, 4020 Linz, at distributors and at www.kepler.at.
Detailed risk notice and exclusion of liability are available at www.kepler.at.