Hard Value Fund
The Fund for Financial
Sustainability
1.)
Hard Value Fund - R dist.
ISIN DE000A3D1ZP1
Invest Now
Stock Elite
Conservative Values
Optimization of Investment Success
Financial Sustainability
Financial Sustainability
When it comes to building or expanding your wealth, we don't want to get involved in experiments. We pursue a serious investment strategy and focus on conservative stocks. The Hard Value Fund brings together an elite group of equities which, according to our analyses, meet all the criteria for financial sustainability. In this way, we aim to optimize investment performance and achieve a sustainable balance, even in volatile markets.
Criteria of our Stock Elite
Criteria of our Stock Elite
Conservative investing means focusing on what is proven. Only securities backed by business models that have stood the test of time over years or even decades make it into our Hard Value Fund R dist. (WKN: A3D1ZP). Only established companies with long-term strategies, outstanding products or brands, and experienced management teams are even considered for analysis by our team. We evaluate business models, management, market capitalization, cash flow, leverage, debt management, and dividend track records—to name just a few of our rigorous criteria. Every security must clear high hurdles in our quantitative and qualitative analyses to be included in the Hard Value Fund. After all, it is your sustainable return that matters. We make no compromises on that.
As of 31st of August 2026. The allocation varies over time. Source: IPConcept (Luxembourg) S.A.
Past performance is not a guarantee of future results.
As seen in:
Name of the Fund | Hard Value Fund |
Advisor | Walter Ludwig GmbH Wertpapierhandelsbank |
Management Company | IPConcept (Luxemburg) S.A. |
Fund Domicile | Germany |
Fund Categories | Stock Funds, World, OGAW |
Appropriation of Income | Dividend Payout, Anually |
Fund Currency | EUR |
Risk Indicator (SRI 1-7) | 4 |
Partial Exemption InvStG (Investment Tax Act) | 30% of the Returns |
See www.van-grunsteyn.com/glossary for an explanation of terms. The indication of ongoing costs and the risk indicator is based on estimates, as no fully completed financial year is available for the fund yet; the value may vary over time. The tax treatment of returns depends on your personal circumstances and may be subject to changes in the future. For further details, please refer to the sales prospectus and the Key Information Document (KID), both of which can be downloaded from this website.
We monitor these and other securities particularly closely.
Patrick Grewe
Chief Investment Officer
“With the Hard Value Fund portfolio, you participate in high-yield and profitable companies that currently have a favourable valuation and where we see attractive potential.”
Our Philosophy
Our Philosophy
When it comes to your financial sustainability, there are no limits for us. Precisely because only a few titles make it into our funds, we search worldwide across all industries and sectors for the stock elite.
Whether it's green technologies, pharmaceuticals, food, fossil fuels, ecological business models, defense industries, consumer goods, etc. - the only thing that matters are our strict criteria of financial sustainability. Our requirements and standards are so high that we cannot restrict ourselves to any specific industries, sectors, or countries.
The Hard Value Fund R dist. (ISIN: DE000A3D1ZP1) is not an ideology fund, yet we still adhere to a conservative ideology. The Hard Value Fund is also not a thematic fund, but we are driven by one theme: your financial sustainability.
Top Holdings
Top Holdings
The Hard Value Fund's (ISIN: DE000A3D1ZP1) portfolio has one specific goal: financially sustainable performance.
Therefore, we do not exclude any profitable investments. ESG investments as well as sectors such as tobacco, cannabis, defence, nuclear, fossil energy and mining can be important components of the fund.
van Grunsteyn on Social Media:
Largest Sectors
Aerospace & Defense | 16.9% |
Nuclear & Fossil Energies | 16.8% |
Financial Institutions | 16.2% |
Mining (excl. Gold) | 10.9% |
Gold & Gold Mining | 8.2% |
Tobacco | 5.9% |
Other | 25.1% |
Largest Positions
SSR MINING INC | 3.8% |
RIO TINTO PLC | 3.3% |
LOTUS BAKERIES | 3.3% |
ROLLS-ROYCE PLC | 3.2% |
CHEVRON CORP | 3.2% |
Most Important Countries
USA | 41.3% |
United Kingdom | 12.4% |
Germany | 12.0% |
Canada | 8.6% |
Belgien | 3.3% |
Asset Allocation
Stocks | 86.5% |
Cash | 10.6% |
Gold | 2.9% |
Bond | 0.0% |
As of 31st of August 2026. The allocation varies over time. Source: IPConcept (Luxembourg) S.A.
Hard Value Fund - R dist.: WKN A3D1ZP
Opportunities and Risks
In general, every investment involves the risk of capital loss. For detailed information on risks, please refer to the currently valid sales prospectus (available in German language only). Please pay particular attention to these risks:
Share prices can fluctuate relatively strong due to market, currency and individual factors
Risk of a bond issuer defaulting on payment
Currency risks from securities not denominated in euros
Dividends are a voluntary benefit provided by companies and are therefore not guaranteed; they can rise, fall or be cancelled
Annual distributions
Annual Distributions
Unit class R of the Hard Value Fund (ISIN: DE000A3D1ZP1) distributes income annually and there is no minimum investment amount.
The equity fund is suitable for diverse investor groups who do not want to fully align their portfolio with environmental or social objectives.
Feature
Hard Value Fund - R dist.
ISIN | DE000A3D1ZP1 |
WKN | A3D1ZP |
Bloomberg-Ticker | HRDVLER GR |
Inaugural Issue | 02.01.2023 |
Appropriation of Income | Dividend Payout |
Minimum Investment | -- |
Minimum Subsequent Investment | -- |
Offering Premium | Up to 5% |
Management Fees | 1.6% p.a. |
Custodian Fee | 0.05% p.a. |
Performance-related Remuneration | Yes |
Ongoing Expenses (TER) | 1.69% p.a. |
Performance Fee: 10% of the share value development exceeding the hurdle rate of 6% p.a. during the calculation period, following the high-water mark model, with a maximum of 2.5% of the average NAV. Calculation period: 01.01.-31.12. See www.van-grunsteyn.com/glossary for an explanation of terms. The indication of ongoing costs is based on an estimate, as no fully completed financial year is available for the fund yet; the value may vary over time. For further details, please refer to the sales prospectus and the Key Information Document (KID), both of which can be downloaded from this website.
Feature
R dist
I dist
S dist
ISIN | DE000A3D1ZP1 | DE000A3D1ZQ9 | DE000A3D2YL1 |
WKN | A3D1ZP | A3D1ZQ | A3D2YL |
Bloomberg-Ticker | HRDVLER GR | HRDVLEI GR | HRDVLES GR |
Inaugural Issue | 02.01.2023 | 02.01.2023 | 02.01.2023 |
Appropriation of Income | Dividend Payout | Dividend Payout | Dividend Payout |
Minimum Investment | -- | 50,000 € | 500,000 € |
Minimum Subsequent Investment | -- | -- | -- |
Offering Premium | Up to 5% | Up to 5% | -- |
Management Fees | 1.6% p.a. | 1.2% p.a. | 0.8% p.a. |
Custodian Fee | 0.05% p.a. | 0.05% p.a. | 0.05% p.a. |
Performance-related Remuneration | Yes | Yes | [not charged] |
Ongoing Expenses (TER) | 1.69% p.a. | 1.29% p.a. | 0.89% p.a. |
Legal notice
This is a marketing communication for German investors. Please read the fund's sales prospectus and Key Information Document (KID) before making a final investment decision. These documents contain detailed information regarding opportunities and risks. The investment being promoted involves the purchase of fund units, not the acquisition of specific underlying assets—such as a company's shares or bonds—as the underlying assets are held solely by the fund. The sole basis for purchasing fund units is the current sales documentation (Key Information Document (KID), sales prospectus, and annual and semi-annual reports, where available). All information published here is for your information only; it does not constitute investment advice or any other recommendation and is subject to change at any time. Sales documentation and further information are available free of charge in German at www.van-grunsteyn.com. A summary of investor rights in German is available electronically, free of charge, at www.ipconcept.com/ipc/de/anlegerinformation.html. Consulting a qualified financial and tax advisor is recommended before investing in fund units. The value of an investment and the income derived from it may rise or fall due to market and currency fluctuations. You may not recover the full amount originally invested. Past performance is not a guarantee of future results. The information published here is based on the legal situation as of the document date. This document and the information contained herein must not be distributed in the USA; distribution may also be subject to restrictions in other jurisdictions. The management company may notify the relevant authorities of the intention to market fund units in various EU or EEA member states. Please note that a decision may be made to terminate the arrangements established for the distribution of the fund's shares in accordance with Article 93a of Directive 2009/65/EC. 1.) The "Golden Bull" award for "Fund Innovation of the Year 2025" and the "Fund Award 2026" were presented by *Euro* magazine (www.boersenmedien.com). You can contact us by phone at +49 69 13 38 52 41 or via email at hello@van-grunsteyn.com. All information has been prepared with care as of the date of processing and partly reflects personal market views. No guarantee or liability is assumed for the accuracy or completeness of this information. Forecasts are based on assumptions that may subsequently prove to be incorrect.