14 Boulevard Royal L-2449 Luxembourg
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Chaussée de La Hulpe, 120 – 1000 Brussels
Rijvisschestraat 124 – 9052 Ghent
Monday to Friday
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BL Global 30

Profile fund

Data as of 21/02/2020

Risk level

Low High
Recommended investment horizon : > 3 years


Average annual performance since launch 3,48 %

Performance as at 21/02/2020

2017 -1,19 %
2018 -1,31 %
2019 8,01 %
Since 01/01/2020 3,36 %
Over the last 12 months 9,11 %
Over 3 years 7,31 %
Since launch 146,57 %
Asset breakdown
Bonds 40,06 %
Gold 21,03 %
Equities 19,14 %
Hedged Equities 10,01 %
Cash 9,75 %
Breakdown by currency
EUR 53,36 %
GOLD 21,12 %
JPY 7,15 %
USD 6,09 %
CHF 4,34 %
Others 7,94 %
Main positions
Deutschland 2015 .5% 15-02-2025 0,50 15/02/2025 7,47 %
Deutsche Boerse Commodities GmbH - 2007-o.f. Verfall auf Gold 31/12/2049 6,59 %
Deutschland Series 180 2019 0% 18-10-2024 0,00 18/10/2024 6,46 %
Deutschland Series 179 2019 0% 05-04-2024 0,00 05/04/2024 6,44 %
Deutschland Series 178 2018 0% 13-10-2023 0,00 13/10/2023 6,42 %


Investment objective and policy

BL-Global 30 invests around 70% of its assets in bonds and money market instruments and 30% in equities. Geographically, the fund invests in Europe and the United States, and from time to time in Japan and the emerging markets. The fund's aim is to achieve slightly better returns than the bond markets for a similar level of volatility.

Management report - 4th Quarter 2019

Thanks to central bank stimulus and the Phase One trade agreement between the United States and China, risk assets performed particularly strongly in the fourth quarter, while more defensive assets were sidelined by investors. From September to December, the MSCI All Country World Index net total return expressed in euros gained 5.8%. In terms of sectors, technology headed the leader board while consumer staples fell over the period. The J.P. Morgan Government Bond Index EMU Unhedged LOC gave up 2.9%. The price of gold, the ultimate safe-haven asset, remained unchanged (expressed in euros). Due to the fund's defensive management strategy, BL Global 30 did not benefit from the appreciation of risk assets, with the NAV (retail accumulation share net of fees in euros) virtually flatlining (+0.1%) over the quarter. No changes were made to the portfolio's structure in the last three months of 2019. At the end of December, the fund was 33% invested in equities, with 12% of this allocation hedged through the sale of futures. The bond segment, amounting to 36% of the portfolio, was composed entirely of German government bonds, with an average duration of 4.5. Certificates investing in precious metals accounted for 21.5% of the portfolio. The portfolio's geographic allocation was as follows: Europe 19.5% (12% hedged), United States 6.5%, Japan 5% and emerging markets 2%. In the cash segment, 4% of the portfolio's assets have been placed in Swiss francs and Japanese yen, which should act as safe-haven currencies if higher volatility returns to the equity markets.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (21/02/2020) 1 528,06 EUR
NAV class A capitalisation shares (21/02/2020) 720,15 EUR
Latest dividend 3,84 EUR
Date of last dividend payment  07/02/2020
CODES Internal capitalisation code : 1061339000
Internal distribution code : 1136312000
ISIN capitalisation code : LU0048292394
ISIN distribution code : LU0048291826
WKN capitalisation code : 986853
WKN distribution code : 986852
SICOVAM capitalisation code : 951710
SICOVAM distribution code : 989728
Net assets (million) 127,78 EUR
Launch date 25/10/1993

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.