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BL Global Flexible USD
Flexible fund
Data as of 21/01/2021
Risk level
| Low |  | High |
Performance
Average annual performance since launch 5,52 %
Performance as at 21/01/2021
| FUNDS | |
|---|---|
| 2018 | -2,45 % |
| 2019 | 17,69 % |
| 2020 | 14,86 % |
| Since 01/01/2021 | -0,38 % |
| Over the last 12 months | 12,00 % |
| Over 3 years | 27,59 % |
| Since launch | 71,60 % |
Composition
| Asset breakdown | |
|---|---|
| Equities | 57,24 % |
| Hedged Equities | 32,47 % |
| Cash | 10,29 % |
| Breakdown by currency | |
|---|---|
| USD | 78,58 % |
| CHF | 4,57 % |
| JPY | 4,28 % |
| GBP | 3,73 % |
| EUR | 3,57 % |
| Others | 5,28 % |
| Main positions | |
|---|---|
| Microsoft Corp | 5,79 % |
| Mastercard Inc | 3,93 % |
| Apple Inc | 3,88 % |
| Nike Inc B | 3,47 % |
| Lowes Co Inc | 3,44 % |
Strategy
Investment objective and policy
The fund aims to beat returns offered by money-market products and bonds while avoiding volatility usually associated with the stock markets. This means that the fund offers greater capital protection during bear markets. The weighting of the various asset classes may change significantly depending on how attractive they are in relation to each other (from 0 to 100%).Management report - 3rd Quarter 2020
Equity markets continued to bounce back in the third quarter, extending their rally since the historic slump in March. From July to September, the MSCI All Country World Index net total return expressed in USD gained 8.1%. The political and monetary authorities' massive support programmes were the main factor driving the share-price rebound despite the economic damage caused by the COVID-19 pandemic. In the bond portfolio, the J.P. Morgan Government Bond Index US Unhedged LOC was up 0.2%, benefiting from the expansion of the central banks' asset purchase programmes. The NAV of BL Global Flexible USD (retail accumulation share net of fees in USD) grew by 8.0% during the third quarter. At the end of September 2020, BL Global Flexible USD was 89.6% invested in equities. Part of the equity exposure is hedged via the sale of equity index futures, reducing the net equity exposure to 57%. 3.9% of the fund is invested in US Treasury bonds. Cash accounts for 6.5% of the fund. In terms of currencies, the fund is invested as follows: 80% in USD, 4.7% in CHF, 4.4% in EUR, 4.2% in JPY, 3% in GBP and 3.7% in other currencies, mainly those of emerging markets. At the end of September 2020, none of the currency exposure was hedged by foreign exchange futuresGeneral information
| Net Asset Value | |
|---|---|
| Calculated | Every business day |
| NAV class B capitalisation shares (21/01/2021) | 171,60 USD |
| CODES | ISIN capitalisation code : LU0578147729 WKN capitalisation code : A1H54X |
| Net assets (million) | 100,36 USD |
| Launch date | 14/01/2011 |
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.