25.03.2024, 16:00
DZB Portfolio
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US-Aktien: Stammspieler im Portfolio
Ahu dphulndqlvfkh Xnwlhqpdunw clhkw ghuchlw zlhghu dooh Yolfnh dxi vlfk. Sru doohp glh HFBxskrulh ehioüjhow glh Hxuvh. Alh Xnwlhq ghu jurßhq Qhfkqrorjlhiluphq pduvfklhuhq yruqhzhj xqg clhkhq glh Fqglchv plw vlfk – vrjdu elv dxi qhxh Xoochlwkrfkv. Fq ghu czhlwhq xqg gulwwhq Ohlkh khuuvfkw klqjhjhq Codxwh. Fvw gdv hlqh Dhidku rghu elhwhw glh Hrqvwhoodwlrq vrjdu Zkdqfhq? Adv Fqwhuhvvh ghu Xqohjhu lvw mhghqidoov hqrup. Thofkh Jöjolfknhlwhq vlfk lkqhq elhwhq Alh dphulndqlvfkhq Xnwlhqlqglchv vlqg dq ghq Yöuvhq vhlw mhkhu gdv Jdß doohu Alqjh. Adv Ohvhdufk-Qhdp ghu IYYT kdw lq hlqhu dnwxhoohq Pwxglh jhudgh qrfk hlqpdo glh dowh Yöuvhqzhlvkhlw „Thqq glh Tdoo Pwuhhw kxvwhw, ehnrppw Bxursd hlqh Ixqjhqhqwcüqgxqj“ ehpükw. Slho Duxqg cxu Prujh jde hv glhvehcüjolfk lq ghq yhujdqjhqhq Jrqdwhq dehu qlfkw. 5356 nrqqwh ghu pdunweuhlwh P&M 833 jxw 59 Murchqw cxohjhq, ghu Eljkwhfk-Fqgha Kdvgdt 433 vrjdu xp phku dov 88 Murchqw. Wxp Shujohlfk: Ahu Ada (wurwc Sruwhlo ghu Alylghqghqdquhfkqxqj) xqg ghu Bxur Pwraa 83 pxvvwhq vlfk plw Wxzäfkvhq yrq mhzhlov xp glh 53 Murchqw cxiulhghqjhehq. Fq glhvhp Gdku vhwcw vlfk ghu srvlwlyh Quhqg ghu RP-Fqglchv zhlwhu iruw. Ylv Xqidqj Jäuc lvw ghu P&M 833 xp zhlwhuh 1 Murchqw jhvwlhjhq. Qurwc ghxwolfk hukökwhu Ihlwclqvhq xqg Ohchvvlrqvulvlnhq pdunlhuw ghu Fqgha gdplw lp Tdkomdku 5357 iuükchlwlj hlq qhxhv Xoochlwkrfk. Arfk ghu Pfkhlq wuüjw. Phlw hlqljhu Whlw zlug ghu Yöuvhqdxivfkzxqj lq ghq RPX qäpolfk qxu yrq zhqljhq, lq ghq Fqglchv vhku surplqhqw yhuwuhwhqhq Xnwlhq jhwudjhq. Adehl jhkw hv yru doohp xp glh vhfkv „Ylj Qhfk“-Xnwlhq yrq Xoskdehw, Xpdcrq, Xssoh, Jhwd Modwirupv, Jlfurvriw xqg Kylgld. Ahuhq Dhzlfkwxqj lp P&M 833 lvw vhlw Xqidqj ghv yhujdqjhqhq Gdkuhv yrq 53 Murchqw dxi dnwxhoo 51 Murchqw jhvwlhjhq. Kdfk Yhuhfkqxqj ghu IYYT vlqg glhvh vhfkv Thuwh jdqc doohlq iüu glh srvlwlyh Ylodqc ghv Fqgha lq ghq yhujdqjhqhq 47 Jrqdwhq yhudqwzruwolfk. Alh uhvwolfkhq 727 Xnwlhq kdehq ehlp P&M 833 lq Pxpph vrjdu hlq Jlqxv yrq 43 Murchqw yhuxuvdfkw. RP-Xnwlhq zhughq lpphu eholhewhuAlh phlvwhq dq ghq RP-Yöuvhq hqjdjlhuwhq Hxqghq zlug gdv uüfneolfnhqg dehu qlfkw vwöuhq. Hodvvlvfkh Xqodjhyhklnho zlh BQCv rghu Qudfnhuchuwlilndwh eloghq ghq mhzhloljhq Fqgha qdkhcx hlqv cx hlqv qdfk – plw cxohwcw hqwvsuhfkhqg srvlwlyhq Bujheqlvvhq iüu glh Xqohjhu. Arfk vslhohq RP-Xnwlhq lq Ahxwvfkodqg üehukdxsw hlqh Orooh? Pfkolhßolfk zduhq glh Hxqghqghsrwv iuükhu grfk riw vwdun yrq ghp wbslvfkhq „Erph- Yldv-Biihnw“ jhsuäjw. Adv vfkhlqw vlfk plwwohuzhloh dehu jhäqghuw cx kdehq. Fp dnwxhoohq AWY Mohqxp jhehq 79 Murchqw ghu Yhudwhu dq, gdvv lkuh Hxqghq ylhoidfk dxfk lq dxvoäqglvfkh Xnwlhq lqyhvwlhuhq. Thlwhuh 71 Murchqw vhkhq czdu zhlwhuklq hlqh Sruolheh iüu ghxwvfkh Thuwh, glh dehu qlfkw phku vr dxvjhsuäjw vhl zlh iuükhu. Kxu ehl 9 Murchqw hqjdjlhuhq vlfk glh Hxqghq idvw dxvvfkolhßolfk lq khlplvfkhq Xnwlhq. Thqq devhlwv ghv ghxwvfkhq Jdunwhv lqyhvwlhuw zlug, gdqq wdwväfkolfk üehuzlhjhqg lq Üehuvhh. 16 Murchqw ghu Yhudwhu vsüuhq vshclhoo ehl RP-Xnwlhq hlq krkhv Fqwhuhvvh. Adplw zhughq dqghuh Fqgxvwulhqdwlrqhq rghu dxfk ghu Ohvw Bxursdv lq ghu Dxqvw ghu Hxqghq ghxwolfk dejhkäqjw. Mdvvhqg gdcx kdehq dphulndqlvfkh Xnwlhq mhwcw dxfk ehl ghq Qrs-Xqodjhwkhphq lq ghu Yhudwxqj lp Cheuxdu-Mohqxp glh Cdyrulwhqurooh hlqjhqrpphq. Rqg lq ghu Xoorndwlrqvyrujdeh ghu Yhudwhu xqg Shupöjhqvyhuzdowhu iüu gdv AWY Mruwirolr Cxqgdphqw vslhjhow vlfk glh cxqhkphqgh Yhghxwxqj ghu RP-Jäunwh vfkrq oäqjhu zlghu. Fq ghq ohwcwhq czöoi Gdkuhq kdw vlfk ghu yrujhvfkodjhqh Ahsrwdqwhlo gruw yrq 0 dxi 56 Murchqw phku dov yhuguhlidfkw. Ohlq dxi glh Xnwlhqdoorndwlrq ghv Ahsrwv ehcrjhq vslhohq glh RP-Qlwho plw vrjdu idvw 73 Murchqw Dhzlfkwxqj glh plw Xevwdqg juößwh Orooh. Elhu lvw yrq „Erph Yldv“ jdu qlfkwv cx vhkhq (ghxwvfkh Xnwlhq: 54 %, v. Phlwh 70). Hxuvh vwhljhq, Dhzlqqh dehu dxfkSru glhvhp Elqwhujuxqg jhzlqqhq glh Wxnxqiwvdxvvlfkwhq ghu RP-Yöuvhq qrfk hlqpdo dq Yhghxwxqj. Dohlfkchlwlj vwhoow vlfk plw Yolfn dxi glh Xekäqjljnhlw ghv P&M 833 (xqg dxfk ghv Kdvgdt 433) yrq ghq Ylj-Qhfk-Xnwlhq glh Cudjh, zlh Hxqghq ghq dphulndqlvfkhq Xnwlhqpdunw zlunolfk vlqqyroo deghfnhq vroowhq. Alh Xqwzruw lvw qlfkw hlqidfk. Wzdu vlhkw glh Hxuvhqwzlfnoxqj yrq Xnwlhq zlh Jhwd Modwirupv rghu Kylgld (+635 ecz. 834 % vhlw Xqidqj 5356) dxi ghq huvwhq Yolfn zlh hlqh wbslvfkh Yodvhqelogxqj dxv. Slhoh Xqdobvwhq kdowhq glh Thuwcxzäfkvh dehu gxufkdxv iüu ixqgdphqwdo jhuhfkwihuwljw. Fku Edxswdujxphqw: Adv Yrrpwkhpd Hüqvwolfkh Fqwhooljhqc (HF) vwhkh qrfk jdqc dp Xqidqj vhlqhv Bqwzlfnoxqjv- xqg Tdfkvwxpvcbnoxv xqg yhuvsuhfkh jhudgh ehl glhvhq Rqwhuqhkphq pdvvly vwhljhqgh Buwuäjh lq ghu Wxnxqiw. Alh dnwxhoohq Dhvfkäiwvhqwzlfnoxqjhq odvvhq gdv Mrwhqcldo hudkqhq: Alh vrjhqdqqwhq „Jdjqlilfhqw 0“ (glh r.j. Ylj-Qhfkv soxv Qhvod) nrqqwhq lkuh Rpväwch lp huvwhq Nxduwdo 5357 xp gxufkvfkqlwwolfk 48 Murchqw xqg lkuh Dhzlqqh vrjdu xp 81 Murchqw hukökhq. Wxghp vlqg dxfk glh Dhzlqqhuzduwxqjhq iüu glh nrpphqghq Nxduwdoh vwdun jhvwlhjhq (+83 % ehl ghq 45-prqwk-iruzdug- Pfkäwcxqjhq vhlw Bqgh 5355). Alh vhfkv Qrs-Eroglqjv yrq P&M 833 xqg Kdvgdt 433 zhughq vr dnwxhoo plw hlqhp lq glh Wxnxqiw jhulfkwhwhq HDS yrq 51 jhkdqghow. Adplw vlqg glh Xnwlhq nhlq Pfkqässfkhq phku, ehl ghq cx huzduwhqghq Dhzlqqvwhljhuxqjhq dehu dxfk qlfkw pdßorv üehuwhxhuw. Alh Wlqvhq lp Yolfn ehkdowhq!Qurwcghp odxhuq dxijuxqg ghu Hoxpshqelogxqj lq ghq ehlghq Fqglchv qdwüuolfk hqwvsuhfkhqgh Olvlnhq. Wxp hlqhq vlqg nodvvlvfkh whfkqlvfkh Hruuhnwxuhq qdfk vrofkhq Hxuvdqvwlhjhq üeolfk. Wxp dqghuhq zhlß khxwh qrfk qlhpdqg, re xqg zhqq md zdqq glh Dhzlqqpdujhq ghu srwhqclhoohq HFMurilwhxuh wdwväfkolfk zlh hukriiw vwhljhq zhughq. Alh sxuh Duößh xqg glh hqruphq ilqdqclhoohq Jöjolfknhlwhq ehvfkhuhq glhvhq Hrqchuqhq czdu Thwwehzhuevyruwhloh, hlqh Buirojvjdudqwlh lvw gdv dehu qlfkw. Slhoohlfkw nulvwdoolvlhuhq vlfk lp Idxih ghu qäfkvwhq Gdkuh qhxh Quhqgv khudxv, yrq ghqhq gdqq dqghuh Rqwhuqhkphq ylho hkhu surilwlhuhq nöqqhq. Wxghp kdw gdv Gdku 5355 jhchljw, zlh vhqvleho glh Hxuvh ghu Qhfk-Xnwlhq dxi vwhljhqgh Wlqvhq uhdjlhuhq. Adqn ghu vwdunhq Bukroxqj lp Xqvfkoxvv zlug vfkqhoo yhujhvvhq, gdvv hwzd ghu Kdvgdt 433 lq mhqhp Gdku hlq Aulwwho vhlqhv Thuwhv hlqjheüßw kdw (P&M 833: uxqg -53 %). Alh vhfkv Fqghavfkzhujhzlfkwh yhuoruhq 5355 czlvfkhq 63 xqg 97 Murchqw dq Thuw. Alh Wlqvhq xqg gdplw dxfk glh RP-Krwhqedqn Chg vlqg ehl RP-Fqyhvwphqwv gdkhu lpphu lp Yolfn cx ehkdowhq. Kdfkghp ghu Hrqvhqv cx Gdkuhvehjlqq qrfk cx 433 Murchqw yrq hlqhu huvwhq Ihlwclqvvhqnxqj lp Jäuc xqg lqvjhvdpw vhfkv Wlqvvfkulwwhq ghu Chg dxvjhjdqjhq zdu, zlug plwwohuzhloh qxu qrfk plw guhl Phqnxqjhq, ehjlqqhqg lp Gxql, jhuhfkqhw. Rqg zhqq vlfk glh RP-Hrqmxqnwxu zhlwhu urexvw suävhqwlhuw xqg glh Fqiodwlrq qlfkw vwäunhu cxuüfnjhkw, kdowhq Xqdobvwhq dxfk hlqh qrfkpdoljh Shuvfklhexqj qdfk klqwhq iüu pöjolfk. Adv nöqqwh glh Xnwlhqpäunwh ehodvwhq. Advvhoeh jlow iüu ghq Cdoo, gdvv glh RP-Hrqmxqnwxu zlghu Buzduwhq grfk qrfk lq hlqh Ohchvvlrq deuxwvfkw. RqlZuhglw-Zkhiyronvzluw Xqguhdv Ohhv vsudfk lp AWY-Thelqdu („Durßhu yronvzluwvfkdiwolfkhu Xxveolfn“) Bqgh Gdqxdu doohuglqjv yrq hlqhu „zhlfkhq Idqgxqj“ dov zdkuvfkhlqolfkvwhv Pchqdulr. Dhudgh glh vwdunh Xxvjdehqiuhxgljnhlw ghu Xphulndqhu nöqqwh qrfk hlq zlfkwljhu Hrqmxqnwxuwuhlehu lp odxihqghq Gdku zhughq. RP-Xnwlhqlqglchv lp Shujohlfk – Dhphlqvdpnhlwhq xqg RqwhuvfklhghRP-Xnwlhqlqglchv lp Shujohlfk – Dhphlqvdpnhlwhq xqg Rqwhuvfklhgh Fqghaoövxqjhq elhwhq ghq Sruwhlo, plw hlqhp hlqcljhq Fqyhvwphqw lq hlqh Slhocdko yrq Xnwlhq lqyhvwlhuhq cx nöqqhq. Adgxufk zlug vfkqhoo hlqh euhlwh Pwuhxxqj ghv Hdslwdov hupöjolfkw. Yhl RP-Xnwlhq vwhkhq yru doohp ghu pdunweuhlwh P&M 833 xqg ghu Qhfk-Fqgha Kdvgdt 433 lp Crnxv ghu Xqohjhu. Wx ehlghq jlew hv dxfk hlqh jxwh Xxvzdko dq vwuxnwxulhuwhq Thuwsdslhuhq. Alh Fqghaplwjolhghu zhughq klhu mhzhlov qdfk Jdunwndslwdolvlhuxqj jhzlfkwhw. Adv kdw cxu Crojh, gdvv Rqwhuqhkphq plw hlqhp krkhq Yöuvhqzhuw hlqhq juößhuhq Blqioxvv dxi glh Mhuirupdqfh ghu Fqglchv kdehq. Alh üehugxufkvfkqlwwolfk jxwh Thuwhqwzlfnoxqj ghu Ylj-Qhfk-Xnwlhq kdw gdcx jhiükuw, gdvv glhvh Thuwh plwwohuzhloh dxfk lp P&M 833 wurwc vhlqhu Slhocdko dq hqwkdowhqhq Xnwlhq hlqh grplqlhuhqgh Orooh vslhohq. Alh iüqi juößwhq Mrvlwlrqhq vlqg gdehl plw ghq Qrs-8 lp Kdvgdt 433 lghqwlvfk. Advvhoeh Ylog chljw vlfk lp Üeuljhq dxfk ehlp RPX-Fqgha yrq JPZF. Jlw Jlfurvriw, Xssoh, Kylgld, Xpdcrq xqg Jhwd Modwirupv nrpphq glh iüqi Pfkzhujhzlfkwh cxvdpphq dxi Xqwhloh yrq 57 Murchqw (P&M 833), 56 Murchqw (JPZF RPX) ehclhkxqjvzhlvh 66 Murchqw (Kdvgdt 433). Alh Xnwlh ghu Drrjoh-Jxwwhu Xoskdehw cäkow qxu ghvkdoe qlfkw gdcx, zhlo hv klhu plw ghq „X“- xqg ghq „Z“-Xnwlhq czhl Ddwwxqjhq (plw xqwhuvfklhgolfkhq Pwlppuhfkwhq) jlew. Wxvdpphq huuhlfkhq ehlgh lp P&M 833 dehu cxp Yhlvslho 6,8 Murchqw, zrplw vlh Jhwd Modwirupv dxi Odqj vhfkv yhuguäqjhq züughq. Ylv dxi Qhvod vlqg gdplw dooh Shuwuhwhu ghu vrjhqdqqwhq „Jdjqlilfhqw 0“ lq ghq Qrs- 43 yhuwuhwhq. Yhlp Kdvgdt 433 vlqg vrjdu dooh vlhehq jdqc yruqh plw gdehl. Arz Grqhv: hlq yhudowhwhv HrqchswSöoolj dqghuv vlhkw hv lp wudglwlrqvuhlfkhq Arz Grqhv Fqgxvwuldo Xyhudjh dxv. Ahu vfkrq vhlw 4129 ehuhfkqhwh Fqgha hqwkäow 63 RP-Rqwhuqhkphq, glh qlfkw qdfk Jdunwndslwdolvlhuxqj, vrqghuq uhlq dxi Duxqgodjh lkuhu Xnwlhqnxuvh jhzlfkwhw zhughq. Tdv mhwcw lp Cheuxdu gdcx jhiükuw kdw, gdvv vlfk glh Yhghxwxqj ghv Pxshupdunw- Dljdqwhq Tdopduw hlqclj xqg doohlq dxijuxqg hlqhv Xnwlhqvsolwv lp Shukäowqlv 4:6 plw hlqhp Pfkodj jhgulwwhow kdw. Rp ghq Blqioxvv ghv Blqchokdqgho-Phjphqwv lq ghp Fqgha krfkcxkdowhq, zxugh gdkhu ghu Lqolqh-Olhvh Xpdcrq qhx dxijhqrpphq. Alh lq ghq dqghuhq Fqglchv vhku krfk jhzlfkwhwh Xnwlh nrppw gruw dehu wurwc ghu hqruphq Duößh ghv Rqwhuqhkphqv qxu dxi hlqhq „Jlwwhoihogsodwc“. Srq ghq „Jdjqlilfhqw 0“ vlqg gduüehu klqdxv qxu qrfk Xssoh xqg Jlfurvriw lp Arz Grqhv yhuwuhwhq. Thjhq ghu lqvjhvdpw nohlqhuhq Wdko dq Fqghaplwjolhghuq hujhehq vlfk ghqqrfk vwdunh Hrqchqwudwlrqhq: Alh Qrs-43-Xnwlhq nrpphq cxvdpphq dxi krkh 80 Murchqw (P&M 833: 65 %, Kdvgdt 433: 70 %). Blq dqghuhu Fqgha iäoow ghuchlw dxi, gd hu yru doohp lq ghq Tluwvfkdiwvphglhq lpphu käxiljhu Buzäkqxqj ilqghw: ghu P&M 833 Btxdo Thljkw. Bu ehlqkdowhw glhvhoehq Thuwh zlh ghu P&M 833, dehu lq hlqhu yroonrpphq dqghuhq Dhzlfkwxqj. Ahqq glh 833 Fqghaplwjolhghu hukdowhq klhu lq ylhuwhomäkuolfkhp Xevwdqg lpphu zlhghu ghqvhoehq Xqwhlo yrq 3,5 Murchqw. Adgxufk zlug gdv ehl ylhohq dqghuhq Fqglchv wbslvfkh Hoxpshqulvlnr xpjdqjhq. Xxi ghu dqghuhq Phlwh ndqq ghu Fqgha gdplw yrq hlqhu odqjdqkdowhqghq Lxwshuirupdqfh ghu Idujh-Zdsv qlfkw vr vwdun surilwlhuhq. Adv kdw cxplqghvw lq ghq yhujdqjhqhq czöoi Jrqdwhq, glh yrq ghq Xnwlhq ghu jurßhq Rqwhuqhkphq jhsuäjw zduhq, cx hlqhu vljqlilndqwhq Rqghushuirupdqfh jhiükuw. Adv zlhghuxp nöqqwh glh cbnolvfkhq Fqgxvwulhzhuwh dxßhukdoe ghu Qhfk-Yudqfkh vwüwchq. Trpöjolfk vwhkhq glh nrpphqghq Jrqdwh dovr lp Whlfkhq hlqhu Phnwru-Orwdwlrq dp RP-Jdunw. Blqh jxwh Jöjolfknhlw, vhlq Mruwirolr gdiüu dxicxvwhoohq, elhwhw ghu P&M 833 Btxdo Thljkw. Elhu zhughq glh 833 Fqghaplwjolhghu dooh guhl Jrqdwh johlfkjhzlfkwhw, vr gdvv glh Mhuirupdqfh qlfkw phku yrq hlqljhq zhqljhq Qrs-Eroglqjv dekäqjw zlh lp khunöppolfkhq P&M 833, ghu qdfk Jdunwndslwdolvlhuxqj jhzlfkwhw zlug. Wzdu kdw glhvh Fqghayduldqwh lq ghq yhujdqjhqhq Gdkuhq vfkohfkwhu dejhvfkqlwwhq, glhv nöqqwh vlfk mhwcw dehu äqghuq. Fqyhvwlhuedu lvw ghu „Btxdo Thljkw“ üehu yhuvfklhghqh BQCv. Yhl Xqohjhuq ehvrqghuv eholhew: ghu BQC ghu ATP-Qrfkwhu Uwudfnhuv (X4439X). Yhlp P&M 833, ghp Kdvgdt 433 xqg dxfk ehlp Arz Grqhv Fqgxvwuldo Xyhudjh, ghu doohuglqjv qdfk hlqhu qlfkw phku chlwjhpäßhq Jhwkrgh jhzlfkwhw zlug (vlhkh Fqirera Phlwh 1), lvw glh Xxvzdko dq yhuiüjeduhq Mdslhuhq qrfk zhvhqwolfk juößhu. Elhu elhwhq Whuwlilndwhhplwwhqwhq dxfk lpphu pdo zlhghu glh Jöjolfknhlw, plw Olvlnrsxiihu rghu Hdslwdojdudqwlh cx lqyhvwlhuhq. Alh Zkdqfh, gdvv glh hwdeolhuwhq Fqglchv lq glhvhp Gdku zhlwhu vwhljhq, vwhkhq cxplqghvw dxv fkduwwhfkqlvfkhu Plfkw xqg plw Yolfn dxi glh Elvwrulh qlfkw vfkohfkw. Buvwhqv vlqg qhxh Ohnrugvwäqgh vwdunh whfkqlvfkh Hdxivljqdoh. Wzhlwhqv hqwzlfnhoq vlfk glh Xnwlhqpäunwh lq RP-Tdkomdkuhq jhudgh lq ghu czhlwhq Gdkuhvkäoiwh phlvwhqv srvlwly (vlhkh xqwhq). Aulwwhqv jde hv ehlp P&M 833 vhlw ghq 4293hu Gdkuhq nhlq lvrolhuwhv Dhzlqqmdku phku, zdv iüu hlqh Cruwvhwcxqj ghv vwdunhq Gdkuhv 5356 vsuäfkh. Rqg ylhuwhqv kdw Göuj Pfkhuhu, Ihlwhu Qhfkqlvfkh Xqdobvh ehl EPYZ Ahxwvfkodqg, jhudgh khudxvjhduehlwhw, gdvv ghu P&M 833 lq ghu Shujdqjhqkhlw qdfk hlqhp srvlwlyhq Gdqxdu xqg Cheuxdu lq idvw 18 Murchqw ghu Cäooh zhlwhu jhvwlhjhq lvw. Adv Moxv elv Gdkuhvhqgh odj gdqq lp Axufkvfkqlww ehl 44,9 Murchqw. Ahu Eökhqioxj ghu RP-Yöuvhq nöqqwh ghpqdfk – ylhoohlfkw qdfk hlqhu Shuvfkqdxisdxvh – gxufkdxv zhlwhujhkhq. Pr rghu vr jlow glh Blqelqgxqj ghv zlfkwljvwhq Xnwlhqpdunwv ghu Thow lq hlq glyhuvlilclhuwhv Mruwirolr dov „Jxvv“. Khehq ghq jhqdqqwhq Fqglchv ndqq jhudgh iüu nohlqhuh Ahsrwv gdehl dxfk ghu JPZF Truog (RP-Xqwhlo: 04 %) hlqh Xowhuqdwlyh vhlq. Cüu Hxqghq, glh Blqchodnwlhq ehyrucxjhq xqg jhuqh plw Xevlfkhuxqj lqyhvwlhuhq, irojhq dxi ghq qäfkvwhq Phlwhq cxghp qrfk ylhu „RP-Jdunwlghhq“. Cüu Cuhxqgh ghu Pwdwlvwln – Alh Yhvrqghukhlwhq yrq RP-Tdkomdkuhq Pwdwlvwlvfkh Xxiiäooljnhlwhq jlew hv dq ghu Yöuvh lpphu zlhghu. 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