BL Short Term Dollar

Investment objective and policy

The Dollar fund invests principally in bonds denominated in USD with a residual term of no more than 12 months, and in floating-rate securities. It also includes money market instruments issued by first-rate issuers, and liquidities. BL-Short Term can be seen as a temporary investment whose objectives are high capital availability, and a return better than that offered by a money market investment.

Management report - 2nd quarter 2010

Recent figures published reflecting the sluggishness of the economy and the minutes of the US Federal Reserve indicate that there is no likelihood of a rate increase in the near future. The market is increasingly focusing on the slowdown of US growth. Corporate spreads continued to normalise in the second quarter reaching levels that seem to be more in line with fundamentals.

General information

Net Asset Value
Calculated	Every business day
NAV class B capitalisation shares (07/09/2010)	526,12 USD
NAV class A capitalisation shares (07/09/2010)	248,79 USD
Latest dividend	2,08 USD
Date of last dividend payment	---
CODES	Internal capitalisation code : 1134336000 Internal distribution code : 1134328000 ISIN capitalisation code : LU0093571494 ISIN distribution code : LU0093571221 WKN capitalisation code : 921179 WKN distribution code : 937809 SICOVAM capitalisation code : 959289 SICOVAM distribution code : 959288
Net assets (million)	55,96 USD
Launch date	13/03/1990