14 Boulevard Royal L-2449 Luxembourg
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Monday to Friday
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BL Equities Dividend

Theme fund

Data as of 21/02/2020

Risk level

Low High
Recommended investment horizon : > 6 years


Average annual performance since launch 8,89 %

Performance as at 21/02/2020

2017 8,18 %
2018 0,10 %
2019 27,09 %
Since 01/01/2020 5,97 %
Over the last 12 months 22,17 %
Over 3 years 37,82 %
Since launch 96,58 %
Asset breakdown
Equities 92,69 %
Cash 7,31 %
Breakdown by currency
USD 33,85 %
GBP 17,70 %
CHF 12,44 %
EUR 10,59 %
CNY 4,24 %
Others 21,20 %
Main positions
Unilever NV 7,39 %
Philip Morris International Inc 5,98 %
PepsiCo Inc 5,17 %
Colgate Palmolive Co 4,52 %
Reckitt Benckiser Group Plc 4,41 %


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.

Management report - 4th Quarter 2019

In the fourth quarter of 2019, BL Equities Dividend gained 4.33% (retail accumulation share net of fees in euros). During the period, for valuation reasons, we sold Britvic (soft drinks, syrups, fruit juices) and reduced a number of other positions: Domino's Pizza Group, National Grid (electricity and gas transmission), Givaudan (flavours and fragrances), TSMC (semi-conductors), Roche (pharmaceutical products, diagnostics), United Utilities and Severn Trent (water treatment and distribution). For valuation reasons, we reintroduced Swedish Match (smokeless products with and without tobacco), and we added to our holdings in Canadian National Railway (rail freight), Intertek (test, inspection, certification), Colgate-Palmolive (dental hygiene, home and personal care products, pet food) and Reckitt Benckiser (branded pharmaceuticals, hygiene and home care products, infant and child nutrition). At the end of the period, BL Equities Dividend offered a gross weighted average yield of 3.0% (cash included).

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (21/02/2020) 196,17 USD
CODES Internal capitalisation code : 13774684
ISIN capitalisation code : LU0751781666
WKN capitalisation code : A1JUGG
Net assets (million) 555,99 USD
Launch date 16/03/2012

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.