Data as of 11/08/2017

Risk level

Low

High

Recommended investment horizon : > 10 years

average annual performance since launch

2,79 %


Performance as at 11/08/2017

FUNDS
2014 13,67 %
2015 12,67 %
2016 2,45 %
Since 01/01/2017 2,87 %
Over the last 12 months 2,18 %
Over 3 years 28,00 %
Since launch 58,63 %
Asset breakdown
Equities 81,09 %
Hedged Equities 11,90 %
Cash 7,01 %
Breakdown by currency
USD 39,23 %
EUR 20,91 %
JPY 12,90 %
CHF 4,47 %
GBP 3,55 %
Others 18,92 %
Breakdown by region / by countries
USA 24,68 %
Japan 11,34 %
France 11,24 %
Germany 4,40 %
Switzerland 3,56 %
Others 25,86 %
Main positions
SAP SE Stamm 2,60 %
Unilever NV Cert. of shs 2,50 %
Microsoft Corp 2,28 %
LVMH Moet Hennessy Louis Vuitton SE 2,10 %
Taiwan Semiconductor Manufacturing Co Ltd ADR repr 5 shs 1,93 %

Investment objective and policy

BL-Global Equities invests in international equities with no restriction with regard to market capitalisation. Geographically, the fund invests in Europe and the United States, and from time to time in Japan and the emerging markets. The fund aims to achieve long-term capital gains.

Management report - 1st Quarter 2017

In the first quarter of 2017, the portfolio continued to have a defensive structure, with net exposure to equities of 85.5%. At the end of March, 94% of the fund was invested in equities, with 8.5% of this allocation hedged through the sale of futures. The portfolio's geographic allocation was as follows: Europe 30%, United States 38.5% (8.5% hedged), Japan 11% and emerging markets 14.5%. Sector allocation was: consumer 39%, industry and materials 23%, healthcare 16% and technology 16%. In terms of individual shares, new positions were opened in Toray Industries in Japan, Orion in Korea, and Henkel and Essilor in Europe, while the positions in AdvanSix, SMC, Kuraray, Wabco and Harley Davidson were sold.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (11/08/2017) 793,14 EUR
NAV class A capitalisation shares (11/08/2017) 160,75 EUR
Latest dividend 1,89 EUR
Date of last dividend payment  01/02/2017
CODES Internal capitalisation code : 1287012000
Internal distribution code : 13412990
ISIN capitalisation code : LU0117287580
ISIN distribution code : LU0439764787
WKN capitalisation code : 577995
WKN distribution code : A0X9BG
SICOVAM capitalisation code : 500426
Net assets (million) 350,66 EUR
Launch date 31/10/2000

European tax regime

...

Belgian tax regime

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.