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DWS (Agribusiness) -
(Deutsche Investment Management Americas Inc.)
• (T.3779-3000, www.bridgefn.com) 3 222
• (T. 02-3771-9000, www.iprovest.com) 26-4
• (T.1588-0365, www.goodi.com) 23-2
• (T. 1588-3388, www.kjbank.com) 7-12
• (T. 02-769-2000, www.daishin.co.kr) 34-8
• (T. 1588-3322, www.bestez.com) 34-3
• (T. 1588-6363, www.korealife.com) 60 63
• (T. 1588-2323, www.samsungfn.com) 2 6
• (T. 2186-8000, www.ing.com) 737
• (T. 1588-3500, www.keb.co.kr) 2 181
• (T.768-8000, www.wooriwm.com) 34-12
• (T. 1588-6300, www.eugenefn.co.kr) 23-9
• (T. 2002-1111, www.hanabank.com) 101-1
• (T. 1588-3111, www.hanadaetoo.com) 27-3
• (T. 318-9111, www.hi-ib.com) 25-15
• (T. 1544-5000, www.truefriend.com) 27-1
DWS (Agribusiness)
3
(T.3455-2114, www.citibank.co.kr) 39
• (T. 02-768-0114, www.youfirst.co.kr) 34-4
IB (T.3787-2384 www.hmcib.com) 25-3
•NH (T. 02-2004-4114, www.nhis.co.kr) 891
•SC (T. 1588-1599, www.scfirstbank.com) 100 SC
.
, .
2009 2 11
,
(www.deam-korea.com)
(www.amak.or.kr)
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DWS (Agribusiness)
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1. : DWS (Agribusiness) - - A:67292, C1:67293, C-I:71633,
C-e: 80021, C-W : 80022)2. :3. :4. :
: )
2~5 )
1.
100%
2.
(Agribusiness
, ,
, , ,
, . (USD, EUR, JPY,
GBP) 50%
3. ,
4.,
5 1
5. (www.deam-korea.com)
6.
>
Oliver S. Kratz ManagingDirector 6
EUR 4360mn
,
(Deutsche Investment Management Americas Inc.) Oliver S. Kratz .
7.
)
1
08.02.01 ~09.01.31 07.04.05 ~09.01.31
-33.61 % -18.55 %
.
.
.
6
6 )
1.
( ,%)
A C1 C-I C-e C-W
1)
1%-
1)90 70%
0.84
1.0 1.96 0.03 1.76 0.00
0.085
1.925 2.885 0.955 2.685 0.925
0.01)
2) 1.935 2.895 0.965 2.695 0.935
1) , 90
2)
2. :
(2007.1.1. 15.4%, 14.0%
3. :
5 5
(D)(D+1)
D D + 1
(5 ) (D+1 )
D D + 1
(5 ) (D+1 )
(D) 3(D+2)
D D + 1
(5 ) (D+2 )
D + 2D D + 1
(5 ) (D+2 )
D + 2
(D) (D+2)
(D+7)
D D + 2
(5 )
D + 7D D + 2
(5 )
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7
.
.
1. DWS (Agribusiness) –
- A:67292, C1:67293, C-I:71633,
C-e: 80021, C-W : 80022
2. .
3. , , , ,
4.
(Deutsche Investment Management Americas Inc.)
:
, .
5.
2007. 4.5.
6.
)
2008.04.05 - 2008.10.04 1,658 1,658
2007.04.05 - 2008.04.04 1,504 1,504
, ]
7.
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.
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. .
- ( ,,
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-
-
1
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-
-
2
-
-
-
43
-
-
-
(Resource Owner) (Facilitators) (Value Adders) (Distributors)
9
2.
1)
100%
. 90%
.
2)
60% ,
(Agribusiness* : , ,
, , , ,
-
.)
.
.
3) DWS (Agribusiness) –
[2007.03.14]
(Deutsche Investment Management Americas Inc.)
.
4)
.
.
Deutsche Investment
Management
Americas
Deutsche Investment
Management
Americas
‘ ‘I.
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12
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]
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]"
[ ]
, 1,000 4
.
Class Class
.
.
.
.
, (www.deam-korea.com)· ,
(www.amak.or.kr)
6. DWS –
OliverS. Kratz
ManagingDirector
EUR4360mn
(Deutsche Investment Management Americas Inc.) Oliver S.
Kratz .
=11,000 =1,000
X 1,000
13
DWS –
.
7.
.
(http://www.amak.or.kr) ,
.
(1)
:%)
-33.61 -18.55
(2)
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-33.61
2009 1 31 .
. ,
1.
A C1 C-I C-e C-W
1% -
- -
90 – 70%
90 –
)
) Class . Class A
.
1. (Class) A :
‘ .
‘I. ’ ‘5.
.
14
2.
2. (Class) C1 :
3. (Class) C-I : ,
), , , 100
500
4. (Class) C-e :
5. (Class) C-W :
%)
CLASS
A
CLASS
C1
CLASS
C-I
CLASS
C-e
CLASS
C-W
0.84 0.84 0.84 0.84 0.84
1.00 1.96 0.03 1.76 0.00
0.06 0.06 0.06 0.06 0.06
0.025 0.025 0.025 0.025 0.025
0.01 0.01 0.01 0.01 0.01
1.935 2.895 0.965 2.695 0.935
)
1
.
<1,000 > ( )
10
Class A 300,837 727,758 1,198,440 2,597,168
Class C1 296,737 935,465 1,639,662 3,732,332
Class C-I 98,913 311,822 546,554 1,244,110
Class C-e 239,338 754,551 1,322,491 3,010,361
Class C-W 95,838 302,128 529,563 1,205,434
) 1,000
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10
Class A
Class C1
Class C-I
Class C-e
Class C-W
16
, 2007 6 1 2009 12 31
.
,
.
) , ,
) 2007 6 1 2007 6 1
( 2007 6 1
2007 6 1
)
(3) : 15.4% ( ), 14%
15.4% ( 14%, 1.4%)
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17
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D + 2
, 1,000
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8
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‘IV. ’ ‘1.
.
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18
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A C1 C-I C-e C-W
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.
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.
19
2 .
.
100% ( 90%
.
.
DWS (Agribusiness) –
[2007.03.14]
(Deutsche Investment Management Americas
Inc.) . )
DWS –
60% ,
.
: (Agribusiness :
, , , ,
, , )
,
.
.
1.
.
.
.
. , , :
50% ,
.
. : . ,
.
,
.
21
(2)
, >
: DB Global Markets Research , Bloomberg
>
: FAO agricultural production, ABARE, USDA, 2006. Global Corn & Wheat inventories
declining (stock/use ratios), 1960 – 2006.
1961 ,( > : )
[ ]
0%
50%
100%
150%
200%
250%
300%
1961 1965 1970 1975 1980 1985 1990 1995 2000 2004
[1961 ]
22
3. . ( )
100% DWS (Agribusiness)
)
10% ,
40%
10% .
. “ DWS (Agribusiness) -
1) 60%
, (
) , (DR : Depositary
Receipt) ( “ )
“ ”
,
(DR :
Depositary Receipt) ( “ )
60%
.
2)
5%
, ETF
30%
20%
)
, (
30%
100 95
100 95
100 20
23
3)
15%
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,
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, .)
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4)
:
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2. )
3.
108
.
. , ( ) ( )
15
.
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) 1
) 1
) 3
10%
) 36
24
4.
. , .
.
10% 77
. (“ DWS (Agribusiness)
”)
10%
10%
. ,
10%
30%
1
.
1 .
10%
10%
1 1
. ,
1
. ‘
]] 10%
29
(3)
(Deutsche Investment Management Americas Inc)
.
-
.
/ /
.
(4)
(Deutsche Investment Management Americas Inc.)
Deutsche Bank Americas Holding Corp.
1984.SSC, Inc.
2002.Deutsche Investment Management Americas Inc
140 (06 ,
.
3. )
2008.3.31 2007.3.31 2008.3.31 2007.3.31
19,513
613
8,773
28,899
112
5,505
5,617
19,411
1,678
2,193
23,282
28,899
17.695
791
7,886
26,372
316
4,967
5,283
19,411
4,011
-2,333
21,089
26,372
20,107
16,263
3,844
46
690
3,200
0
0
3,200
1,007
2,193
12,883
16,271
-3,388
127
243
-3,504
0
0
-3,504
-804
-2,700
30
4. ( )
21,098 11,558 5,907 5,626 5,265 557 510 146 50,667
( : 2008 12 )
,
11,558
, 510
, 146, 5,907
,
5,626
, 21,098
, 557,
5,265
)
36 98 18,681
FOF
,
.
5.
DWS –
) .
Oliver S.Kratz
EUR 4360 mn
, ,
31
.
1.
3 222: 1566-0900
: www.bridgefn.com
1954.82007.10
26-4: 1588-3322
: www.iprovest.com
1949.11 1994.04
23-2:1588-0365
: www.goodi.com
1973. 2002.08
7-12 :1588-3388
: www.kjbank.com
1968.09.17 2001.03.27
)
34-8: 02-769-2000: www.daishin.co.kr
1962.07
34-3: 1588-3322:www.bestez.com
1970. 09
60 63
: 1588-6363:www.korealife.com
1946. 09
2002
2 6
: 1588-2323 : www.samsungfn.com
1982.10
737 13
:2186-8000: www.ing.com
2008.6.
2 181: 1588-3500 : www.keb.co.kr
1967.01
34-12:1544-0000
: www.wooriwm.com
1969
2005.4
23-9: 1588-6300
: www.eugenefn.co.kr1654.05
27-3: 1588-3111
: www.hanadaetoo.com
1968.
2003.06
101-1T. 2002-1111 : www.hanabank.com
1991.07 2005.12
32
25-15: 318-9111
: www.hi-ib.com
1989.10
27-1: 1544-5000
: www.truefriend.com
1974.08
2003.06
39:3455-2114
: www.citibank.co.kr
1967.9
34-4: 02-768-0114:www.youfirst.com
1962.06
IB 25-3
T. 3787-2384:www.hmcib.com
1955. 7
NH 891: 02-2004-4114
:www.nhis.co.kr
1981.11
2005.02
SC 100 SC
: 1588-1599 : www.scfirstbank.com
1929.07
2005.04
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