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BL Global Equities
Equity fund
Data as of 21/02/2020
Risk level
| Low |  | High |
Performance
Average annual performance since launch 3,70 %
Performance as at 21/02/2020
| FUNDS | |
|---|---|
| 2017 | 7,45 % |
| 2018 | -4,13 % |
| 2019 | 23,20 % |
| Since 01/01/2020 | 3,14 % |
| Over the last 12 months | 17,60 % |
| Over 3 years | 24,57 % |
| Since launch | 101,82 % |
Composition
| Asset breakdown | |
|---|---|
| Equities | 84,28 % |
| Hedged Equities | 10,17 % |
| Cash | 5,55 % |
| Breakdown by currency | |
|---|---|
| USD | 31,41 % |
| EUR | 26,65 % |
| JPY | 13,03 % |
| GBP | 5,42 % |
| CHF | 3,80 % |
| Others | 19,69 % |
| Main positions | |
|---|---|
| Unilever NV | 3,11 % |
| SAP SE Stamm | 2,80 % |
| Pernod Ricard | 2,53 % |
| Taiwan Semiconductor Manufacturing Co Ltd ADR repr 5 shs | 2,51 % |
| Microsoft Corp | 2,38 % |
Strategy
Investment objective and policy
BL-Global Equities invests in international equities with no restriction with regard to market capitalisation. Geographically, the fund invests in Europe and the United States, and from time to time in Japan and the emerging markets. The fund aims to achieve long-term capital gains.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. Due to the fund's defensive management strategy, BL Global Equities only gained moderate benefit from the appreciation of risk assets, with the NAV (retail accumulation share net of fees in euros) up 3.4% 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 93.5% invested in equities, with 10% of this allocation hedged through the sale of futures. The portfolio's geographic allocation was as follows: Europe 36.5% (4% hedged), United States 29.5% (6% hedged), Japan 11.5% and emerging markets 16%.General information
| Net Asset Value | |
|---|---|
| Calculated | Every business day |
| NAV class B capitalisation shares (21/02/2020) | 1 009,12 EUR |
| NAV class A capitalisation shares (21/02/2020) | 202,37 EUR |
| Latest dividend | 0,26 EUR |
| Date of last dividend payment | 07/02/2020 |
| CODES | Internal capitalisation code : 1287012000 Internal distribution code : 13412990 ISIN capitalisation code : LU0117287580 ISIN distribution code : LU0439764787 WKN capitalisation code : 577995 WKN distribution code : A0X9BG SICOVAM capitalisation code : 500426 |
| Net assets (million) | 297,51 EUR |
| Launch date | 31/10/2000 |
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.