Deutsche Bank Star Investor's Bad Year Hasn't Put Off Clients
- Kaldemorgen hedge fund attracted 2.3 billion euros in 2017
- ‘Above all, investors must not lose any money,’ he says
This article is for subscribers only.
Deutsche Bank AG’s Klaus Kaldemorgen just suffered the worst year since he started his namesake fund almost seven years ago. That didn’t stop investors from adding a near-record amount to the strategy.
Clients poured 2.3 billion euros ($2.8 billion) into the 7.5 billion-euro Deutsche Concept Kaldemorgen last year, the second-most after 2015, when they added 2.4 billion euros. The inflows were the biggest among Deutsche Bank’s stock and mixed-allocation funds and helped Kaldemorgen close the gap with DWS Vermoegensbildungsfonds, the stock fund he ran for almost two decades and which became a staple in many Germans’ portfolios.