Data as of 14/08/2017

Risk level



Recommended investment horizon : < 2 years

average annual performance since launch

2,84 %

Performance as at 14/08/2017

2014 0,16 %
2015 -0,22 %
2016 0,44 %
Since 01/01/2017 0,58 %
Over the last 12 months 0,78 %
Over 3 years 0,86 %
Since launch 115,45 %
Asset breakdown
Bonds 94,29 %
Cash 5,71 %
Main positions
Goldman Sachs Group Inc 2013 2.51111% 30-04-2018 2,51 30/04/2018 4,74 %
National Australia Bank Ltd 2017 1.68172% 22-05-2020 1,68 22/05/2020 4,73 %
Bank of Montreal Series B 2013 1.90411% 09-04-2018 1,90 09/04/2018 4,72 %
ING Bank NV 2015 1.80033% 16-03-2018 1,80 16/03/2018 4,72 %
Morgan Stanley Series F 2014 2.1625% 24-01-2019 2,16 24/01/2019 4,72 %

Investment objective and policy

The Dollar fund invests principally (1) in bonds denominated in USD with a residual term of no more than 12 months, and (2) in floating-rate securities. It also includes money market instruments issued by first-rate issuers, and liquidities.

Management report - 1st Quarter 2017

The minutes of the latest meeting of the Federal Reserve's monetary policy committee (FOMC) confirmed the US central bank's increasing confidence in the economic situation. It is therefore expecting to continue raising interest rates and its members discussed beginning the process of reducing the size of its balance sheet this year. Before then, the Fed is also expected to integrate a more accommodative fiscal policy. Credit spreads were volatile during the quarter but ended the period on a more or less stable note. Short-term interest rates, particularly the 3-month Libor to which our portfolio is indexed, rose from 0.99789% at the end of December to 1.14956%. At this stage, we are expecting the Fed to continue tightening its monetary policy. The market is anticipating two further interest rate hikes this year. The fund continues to invest mainly in systemically important investment-grade floating- and fixed-rate bonds with residual maturity of less than 12 months, while at the same time retaining a sizable cash reserve.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (14/08/2017) 538,63 USD
NAV class A capitalisation shares (14/08/2017) 235,24 USD
Latest dividend 16,81 USD
Date of last dividend payment  01/02/2017
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) 21,26 USD
Launch date 13/03/1990

European tax regime

35% on redemptions
35% on dividends (distribution shares)

Belgian tax regime

27% on redemptions
27% on dividends (distribution shares)

Before making any decision to subscribe, customers must ensure they have understood the product, having measured the risks associated with it and consulted their own advisers on the appropriateness of the product for their particular financial situation, taking into account legal, tax and accounting aspects. This fact sheet has been drawn up for information purposes and shall in no event be considered a solicitation to buy or an offer to sell securities or other financial instruments. Information provided to the interested party does not constitute legal or fiscal advice and the Bank shall not be held liable for such information. The securities referred to in this document may cause the investor to incur significant risk and may not be appropriate for all investors. Such risks include market risks, high volatility, credit risk, liquidity risk and interest-rate risk. There is no guarantee that the securities described in this document will achieve their investment objectives. Past performance is no indication of future returns. The Bank shall not be held liable for the future performance of these securities. Potential investors must ensure that they understand the risks of investing in such products and should only take an investment decision after giving careful consideration, together with their professional advisers, to the appropriateness of this investment to their specific financial situation, particularly with regard to legal, tax and accounting aspects. We have made every effort to verify that the information presented in this document is correct, in particular the estimated values, opinions and other estimates. Nevertheless, no guarantee can be given as to the validity, timeliness, completeness, correctness or accuracy of the information, which is provided for guidance only. Information may be subject to change without prior notice.