ACATIS Value Event Fonds (by GANÉ)

Portrait

In 2008, GANÉ Aktiengesellschaft together with ACATIS Investment KVG mbH, Hauck Aufhäuser Lampe Privatbank AG and Universal-­Investment­Gesellschaft mbH launched a flexible balanced fund. From 2008 to 2024, this formerly called ACATIS GANÉ Value Event Fund served many investors as a basic investment for a long-term and balanced investment based on our investment methodology and our value event philosophy.

On 1 October 2018, ACATIS took over the status as capital management company (KVG) for the fund from Universal-Investment. In this context, we asked ACATIS for a fair and balanced initiator agreement to put in writing our partnership as it stood since 2008, including all agreements, thus providing legal certainty and stability for both parties as well as for our investors. Despite repeated requests by the Management and the Supervisory Board of GANÉ Aktiengesellschaft, ACATIS refused to sign such an assured draft agreement.

In 2019, ACATIS undertook an attempt to protect the joint fund name “ACATIS Gané Value Event Fonds” as well as subsequently in 2020 the name “ACATIS GANÉ Value Event Fonds” at the German Patent and Trade Mark Office (DPMA) without prior consultation. As the “GANÉ” trademark had already been protected for many years – which was clearly recognizable for ACATIS at the time when the trademark application for the fund was filed – the registration of both variants of the fund name “ACATIS GANÉ Value Event Fonds” was successfully vetoed. On 1 October 2022, ACATIS changed the fund name to “ACATIS Value Event Fonds” without any advance notice.

Nevertheless, we kept a constructive attitude and approached ACATIS with the aim to restore the original fund along with rights of use, and to resume talks on a fair initiator agreement. ACATIS made clear that such talks would only be held if we were prepared to make major financial concessions. Although we signaled our willingness to make such a concession and subsequently submitted a draft initiators’ agreement, which was intended to put in writing our partnership as it stood since 2008 with all agreements and thus protect both sides, partnership negotiations were once again rejected.

On 12 February 2024, ACATIS terminated the contractual relationships with our liability umbrella BN & Partners Capital AG without prior notice and without explanation. We learnt about this from the press. The reason subsequently given was our launch of a defensive mixed fund (max. 50% equity allocation, EUR 11 million volume), which did not affect the joint offensive mixed fund (max. 100% equity allocation, EUR 8 billion volume) at all, but instead was designed to meet investor demand in a complementary, very defensive product. If ACATIS had an interest in the continuation of the partnership, a brief clarifying discussion would have been preferable to such a radical cancellation and an agreement could have been reached.

Over the past fifteen years, we have worked with commitment and dedication on our life’s work, the joint fund project. The performance, enthusiastic investors and a doubling of the fund volume to 8 billion euros in the last four years alone speak for themselves. As do the numerous awards, top ratings and prizes – such as the “Fund Manager of the Year” award in 2019 and 2024 for fund advisors Dr Uwe Rathausky and Henrik Muhle.

We are seeing an overwhelming encouragement from our investors and would like to express our sincere thanks for this. Investors have called for a fast solution, and we have responded immediately to give them a new home: on 23 February 2024, the GANÉ Global Balanced Fund was modified and now follows our familiar value event strategy with a flexible and offensive focus. We look forward to continuing our 15-year success story, now in the GANÉ Global Balanced Fund under the umbrella of GANÉ Investment-AG with sub-funds, together with our trusted partners Universal-Investment as external investment management company and BN & Partners Capital AG as liability umbrella. Thank you for your continued trust.

On 2 April 2024, the fund name GANÉ Global Balanced Fund was changed to GANÉ Value Event Fund.

Performance since inception per calendar year (Share class A)

Past performance is not a reliable indicator of future performance. The performance figures take into account all costs in accordance with the BVI method.​ Source: Universal-­­Investment­Gesellschaft mbH. Further Information is available on our website as well as on »Contact GANÉ« or »Contact ACATIS«.