Data as of 11/08/2017

Risk level

Low

High

Recommended investment horizon : > 10 years

average annual performance since launch

5,29 %


Performance as at 11/08/2017

FUNDS
2014 9,67 %
2015 15,19 %
2016 5,16 %
Since 01/01/2017 1,05 %
Over the last 12 months -0,41 %
Over 3 years 32,82 %
Since launch 64,20 %
Asset breakdown
Equities 65,10 %
Hedged Equities 20,85 %
Cash 14,05 %
Breakdown by currency
EUR 41,43 %
USD 34,47 %
GBP 10,22 %
CHF 6,81 %
DKK 3,86 %
Others 3,20 %
Breakdown by region / by countries
France 18,33 %
Germany 12,62 %
United Kingdom 10,12 %
USA 8,45 %
Netherlands 6,45 %
Others 9,13 %
Main positions
Unilever NV Cert. of shs 6,45 %
Danone SA 6,11 %
Medtronic PLC 5,74 %
SAP SE Stamm 5,39 %
Microsoft Corp 5,00 %

Investment objective and policy

The fund seeks long-term capital appreciation by investing in socially responsible companies. This fund invests in companies that focus particularly on social and environmental commitments. Companies are selected from a universe of stocks that satisfy ethical, economic, social or ecological criteria laid down by the Ethibel Excellence label.

Management report - 2nd Quarter 2017

In the second quarter of 2017, the positions in 3M, Air Liquide, Unilever, SAP, Schneider Electric and Colruyt were slightly trimmed. At the end of the month, the fund was 87% invested in equities and 13% in cash. S&P 500 index futures totalling 20% of the value of the portfolio were sold, taking net exposure to equities to 67%. The breakdown by currency was as follows: 42% in EUR, 37.5% in USD, 10% in GBP, 7% in CHF and 3.5% in DKK. The portfolio's geographic allocation was as follows: Europe 55% and North America 32% (20% hedged). Sector allocation was: consumer 42%, industry and materials 18.5%, healthcare 16.5% and technology 10%.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (11/08/2017) 1 028,54 EUR
CODES Internal capitalisation code : 2026377000
ISIN capitalisation code : LU0093570173
WKN capitalisation code : 937804
SICOVAM capitalisation code : 959287
Net assets (million) 50,08 EUR
Launch date 03/03/1997

European tax regime

35% on dividends (distribution shares)

Belgian tax regime

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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.