Vorvertragliche Oenlegung für in Artikel 8 Absatz 1 der Oenlegungsverordnung genannte Finanzprodukte

中文标题

Active Asset Allocation (A3) (Plus) 投资前信息披露

Deutsche Bank09/04/2026updated 10/17/2026

Unknown economy

Citable research brief

Core conclusion · Tlines extraction

Deutsche Bank Luxembourg S.A. discloses the pre-contractual information for the financial product 'Active Asset Allocation (A3) (Plus)', which promotes environmental and social characteristics but does not pursue sustainable investments. The product applies ESG criteria based on MSCI positive lists and exclusions, targets at least 51% of the portfolio aligned with E/S characteristics, and has specific handling for liquidity and derivatives.

Institution: Deutsche Bank
Published: 09/04/2026
Research topic: Not explicitly stated
Time horizon: Not explicitly stated

Key arguments

The product promotes environmental and social characteristics but does not aim for sustainable investments.
ESG criteria are based exclusively on MSCI positive lists, requiring a minimum ESG rating of 'A' (or 'BBB' for certain issuers/funds).
At least 51% of the portfolio (excluding cash and short-term deposits) is invested in instruments aligned with environmental or social characteristics.
The product does not consider EU Taxonomy criteria for environmentally sustainable economic activities.
Derivatives not based on ESG indices or used for hedging are limited to 15% of the portfolio.
Bank account balances and short-term deposits can be up to 100% of assets under special market conditions.

Key numbers

Minimum share of investments aligned with E/S characteristics: 51%
Other investments: 49%
Non-ESG derivative limit: 15%
Average cash holdings target: ~5%
Upt to 100% cash under special market conditions: 100%

Main risks

ESG data may not always be available or accurate, affecting the assessment of adverse impacts.
Under special market conditions, up to 100% of assets may be held in non-ESG compliant cash instruments.
Derivatives not aligned with ESG criteria are limited but still pose potential risks.
The product does not pursue sustainable investments or EU Taxonomy alignment, limiting its ESG impact.

Corresponding source evidence

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Context: the conclusion is Tlines' automated extraction, not the institution's wording. Quoted evidence is publisher wording. Scope and date must travel with the conclusion.

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