Data as of 11/08/2017

Risk level

Low

High

Recommended investment horizon : > 6 years

average annual performance since launch

4,89 %


Performance as at 11/08/2017

FUNDS
2014 16,81 %
2015 0,33 %
2016 3,91 %
Since 01/01/2017 1,50 %
Over the last 12 months 1,09 %
Over 3 years 12,69 %
Since launch 59,55 %
Asset breakdown
Equities 92,63 %
Cash 7,37 %
Breakdown by currency
USD 30,43 %
CHF 16,04 %
EUR 11,58 %
GBP 11,23 %
AUD 4,74 %
Others 25,98 %
Breakdown by region / by countries
USA 23,53 %
Switzerland 15,12 %
United Kingdom 11,04 %
Australia 4,74 %
Netherlands 4,27 %
Others 33,01 %
Main positions
Unilever NV Cert. of shs 4,27 %
Nestle SA nom 3,57 %
Novartis AG Namen 3,24 %
Swedish Match AB 2,93 %
Kimberly Clark Corp 2,63 %

Investment objective and policy

The fund seeks long-term capital appreciation by investing in equities offering high dividend yields. BL-Equities Dividend invests in international companies whose current or expected dividend yield is higher than their benchmark index. There is no specific geographical, sector or monetary allocation. Companies are selected based on their valuation and intrinsic quality. This sub-fund is also available denominated in USD with the identical investment policy and performance figures (LU0751781666).

Management report - 2nd Quarter 2017

No new positions were opened in the second quarter of 2017. On the other hand, we sold two of our holdings. After several years in the BL-Equities Dividend portfolio, Oesterreichische Post (postal services) exited the fund for valuation reasons. A different scenario was responsible for the other sale: a few weeks after our initial investment in Mead Johnson, leader in infant formula and toddler nutrition, we were forced to sell our holding following the takeover bid announced at the beginning of February by Reckitt Benckiser (also held in the portfolio). At the end of the period, BL-Equities Dividend offered a gross weighted average yield of 3.5%. The significant amount of cash held by the fund reflects our prudence over the valuation of the quality stocks in our investment universe.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (11/08/2017) 159,55 EUR
NAV class A capitalisation shares (11/08/2017) 121,50 EUR
Latest dividend 2,88 EUR
Date of last dividend payment  01/02/2017
CODES Internal capitalisation code : 2166571000
Internal distribution code : 2166563000
ISIN capitalisation code : LU0309191657
ISIN distribution code : LU0309191491
WKN capitalisation code : A0MWCW
WKN distribution code : A0MWCV
Net assets (million) 662,63 EUR
Launch date 30/10/2007

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.