Luxembourg
14 Boulevard Royal L-2449 Luxembourg
 
Monday to Friday
8.30 am to 5 pm
 
Brussels
Chaussée de La Hulpe, 120 – 1000 Brussels
Ghent
Rijvisschestraat 124 – 9052 Ghent
 
Monday to Friday
8.30 am to 4.30 pm


BL Global 75

Profile fund

Data as of 21/02/2020

Risk level

Low High
Recommended investment horizon : > 6 years

Performance

Average annual performance since launch 6,07 %

Performance as at 21/02/2020

FUNDS
2017 5,06 %
2018 -3,11 %
2019 19,11 %
Since 01/01/2020 4,62 %
Over the last 12 months 17,73 %
Over 3 years 22,61 %
Since launch 372,12 %
Asset breakdown
Equities 56,21 %
Gold 18,27 %
Cash 14,15 %
Hedged Equities 7,95 %
Bonds 3,42 %
Breakdown by currency
EUR 33,37 %
GOLD 18,33 %
USD 15,49 %
JPY 13,72 %
CHF 6,33 %
Others 12,77 %
Main positions
WisdomTree Metal Securities - 2007-o.f. Verfall auf Gold 6,28 %
Source Physical Markets PLC -Secured Gold-Linked Certificates 2009-31.12.2100 on Gold Cmdty Secured 31/12/2100 6,17 %
Deutsche Boerse Commodities GmbH - 2007-o.f. Verfall auf Gold 31/12/2049 4,75 %
Roche Holding AG Genussschein 2,63 %
Unilever NV 2,62 %

Strategy

Investment objective and policy

BL-Global 75 invests around 25% of its assets in bonds and money market instruments and 75% 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 offer long-term capital gains while keeping below the volatility associated with pure equity investments.

Management report - 4th Quarter 2018

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, was unchanged (expressed in euros). Due to the fund's defensive management strategy, BL Global 75 only gained moderate benefit from the appreciation of risk assets, with the NAV (retail accumulation share net of fees in euros) up 2.3% 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 66.5% invested in equities, with 8.5% of this allocation hedged through the sale of futures. The bond segment, amounting to 3.5% of the portfolio, was composed entirely of German government bonds, with an average duration of 4.5. Certificates investing in precious metals accounted for 17% of the portfolio. The portfolio's geographic allocation was as follows: Europe 35.5% (8.5% hedged), United States 19%, Japan 7.5% and emerging markets 4.5%. In the cash segment, 6% 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) 2 925,84 EUR
NAV class A capitalisation shares (21/02/2020) 1 808,07 EUR
Latest dividend 2,13 EUR
Date of last dividend payment  07/02/2020
CODES Internal capitalisation code : 1061436000
Internal distribution code : 1136349000
ISIN capitalisation code : LU0048293368
ISIN distribution code : LU0048293285
WKN capitalisation code : 986356
WKN distribution code : 986855
SICOVAM capitalisation code : 944868
SICOVAM distribution code : 989731
Net assets (million) 641,88 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.