Data as of 10/08/2017

Risk level



Recommended investment horizon : > 8 years

average annual performance since launch

3,77 %

Performance as at 10/08/2017

2014 9,89 %
2015 9,45 %
2016 -2,93 %
Since 01/01/2017 4,07 %
Over the last 12 months 5,84 %
Over 3 years 20,30 %
Since launch 79,89 %
Asset breakdown
Equities 70,83 %
Absolute Return 17,16 %
Bonds 6,34 %
Gold 2,96 %
Cash 2,72 %
Breakdown by currency
EUR 65,40 %
USD 25,48 %
GOLD 2,96 %
JPY 2,90 %
CNY 2,00 %
Others 1,27 %
Breakdown by region / by countries
Europe 42,91 %
USA 10,12 %
Asia 9,14 %
Global 5,00 %
Japan 2,30 %
Others 1,36 %
Main positions
Schroder GAIA Egerton Equity - C CAP 4,05 %
Schroder International Selection Asian Total Return - C CAP 4,02 %
Alken European Opportunities - EU1 CAP 3,88 %
MainFirst Top European Ideas - C CAP 3,52 %
Schroder International Selection European Special Situations - A CAP 3,47 %

Investment objective and policy

This fund invests mainly in UCITS and other UCIs with no geographical, sector or currency restriction. The remaining assets may be invested in cash or any other type of transferable security that is listed or traded on regulated markets. The equity weighting can vary between 50% and 100% of net assets. The emphasis is on international diversification of investments and flexibility in terms of themes and sectors that may potentially be present within the fund.

Management report - 2nd Quarter 2017

Overall, the second quarter proved to be a time of transition for the financial markets. After six particularly robust months, investors certainly needed a digestion phase. The fund gave up 0.15% over the period. The equity weighting ended the quarter at around 73%. This level was maintained throughout the quarter although some profits were taken at the beginning of May after the French elections. At the end of June, following a slight correction on the equity markets, positions were redeployed to benefit from the second-quarter earnings reporting season which runs from mid-July to end-August. This is expected to reflect strong economic momentum worldwide, particularly in the eurozone. The current financial cycle has now reached a high degree of maturity, which means that the prevailing trends have pushed up absolute and relative valuation levels to elevated levels. It is therefore very important to preserve the balance of the portfolio and be on guard for early signs of an end to this economic and financial cycle.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (10/08/2017) 179,89 EUR
CODES Internal capitalisation code : 1393361000
ISIN capitalisation code : LU0135981693
WKN capitalisation code : 762211
Net assets (million) 151,91 EUR
Launch date 03/10/2001

European tax regime


Belgian tax regime


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.