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Funds Detail

BL Equities Asia

Equity funds

Data as of 10/06/2021

Risk level

Recommended investment horizon : > 10 years


Average annual performance since launch 4,51 %

Performance as at 10/06/2021

2018-15,72 %
201914,61 %
202014,49 %
Since 01/01/20214,76 %
Over the last 12 months24,13 %
Over 3 years16,64 %
Since launch38,24 %
Asset breakdown
Equities87,50 %
Cash12,50 %
Breakdown by currency
CNY21,12 %
KRW18,25 %
TWD16,62 %
HKD13,45 %
THB8,24 %
Others22,32 %
Main positions
Taiwan Semiconductor Manufacturing Co Ltd7,77 %
Tencent Holdings Ltd5,80 %
Alibaba Group Holding Ltd Reg S5,45 %
Samsung Electronics Co Ltd4,98 %
Kweichow Moutai Co Ltd A4,21 %


Investment objective and policy

BL-Equities Asia invests in Asian equities (excluding Japan) with no restriction with regard to market capitalisation. The structure of this fund is not linked to a benchmark index, but results from the addition of individual investment opportunities. The fund aims to achieve longterm capital gains.

Management report - 1st Quarter 2021

The Asian equity index, the MSCI AC Asia ex Japan Net Total Return, was up by 2.7% (in USD) during the first quarter of 2021. The fund (retail class B) was up by 2.2% (in USD) over the same period. In Asia ex Japan, the sectors that performed best were more cyclical sectors like industrials, materials and real estate. Healthcare, consumer cyclicals and staples performed worst. Since mid-February, large stocks performed worst whereas smaller capitalizations performed much better. There has been a marked rotation from growth stocks into so-called "value" stocks. In March, the fund manager initiated on one new company: Tata Consultancy Services (TCS) is a leading global IT services provider, ranging from software implementation to digital transformation consulting to servicing entire business operations teams. Based in Mumbai, TCS is the largest Indian IT company in terms of revenues and counts over 450.000 employees. The company generates about half of its revenues from the US and 30% from Europe (incl. UK). The company is well positioned to capture the growing demand for "digital" transformation like cloud migration, artificial intelligence implementation, automation, blockchain technologies, cyber security or virtual reality. Social mobility requirements will only accelerate that transformation. In January, the fund manager sold the Chinese companies Tsingtao Brewery and Hangzhou Hikvision for valuation reasons. The cash position remained close to 11% throughout the quarter.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (10/06/2021)136,21 USD
NAV class A distribution shares (20/05/2021)132,09 USD
CODESISIN capitalisation code : LU1008593946
ISIN distribution code : LU1008593862
WKN capitalisation code : A1XBEX
WKN distribution code : A1XBEW
Net assets (million)727,84 USD
Launch date30/01/2014

Détail fonds - disclaimer

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.

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