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BL Fund Selection 0-50
Flexible fund of funds
Data as of 09/06/2021
Risk level
| Low |  | High |
Performance
Average annual performance since launch 3,49 %
Performance as at 09/06/2021
| FUNDS | |
|---|---|
| 2018 | -4,51 % |
| 2019 | 6,63 % |
| 2020 | 8,37 % |
| Since 01/01/2021 | 6,35 % |
| Over the last 12 months | 15,95 % |
| Over 3 years | 17,65 % |
| Since launch | 51,10 % |
Composition
| Asset breakdown | |
|---|---|
| Equities | 39,46 % |
| Absolute Return | 36,92 % |
| Bonds | 16,45 % |
| Cash | 5,37 % |
| Gold | 1,80 % |
| Breakdown by currency | |
|---|---|
| EUR | 79,25 % |
| NOK | 6,56 % |
| USD | 4,45 % |
| CNY | 3,98 % |
| JPY | 3,95 % |
| Others | 1,80 % |
| Main positions | |
|---|---|
| Schroder GAIA Egerton Equity - C CAP | 4,88 % |
| Memnon European - I2 Euro CAP | 4,56 % |
| Bakersteel Global Precious Metals - I USD CAP | 4,45 % |
| LT European General - A EUR CAP | 4,19 % |
| GaveKal UCITS China Fixed Income UCITS - Accum A EUR CAP | 3,98 % |
Strategy
Investment objective and policy
The aim of this fund is long-term capital appreciation via a diversified portfolio of assets while targeting lower volatility than the equity markets. This flexible fund of funds has no geographical, sector or monetary restriction and invests mainly in UCITS and other UCIs. The proportion of investments in the various asset classes will depend on market circumstances. The maximum equity weighting permitted is 50%.Management report - 1st Quarter 2021
BL Fund Selection 0-50 gained 3.2% in the first quarter, slightly above the average performance for its asset class (+1.0%). Its performance was due to an equity exposure maintained at high levels throughout the quarter (above 45%), a shift towards more cyclical funds and a bond segment that is more sensitive to the compression of credit spreads than to the rise in interest rates. Since November, the value segment of the European and Global portfolios has been significantly increased. We believe it is now sufficiently represented. Positions have also been taken in emerging markets with a focus on Latin America. In alternative strategy funds, the long/short equity funds Liontrust European Strategic Equity (+11.8%), BDL Rempart Europe (+10.8%) and Marshall Wace TOPS UCITS (+6.9%) have performed very well since the beginning of the year. In bonds, Pareto Nordic Corporate Bond (+7.4%) and Gavekal China Fixed Income (+3.3%) fared well, while Lazard Global Convertibles Recovery (+4.1%) was helped by the upward trend of its underlying equities. The current rather high level of equity exposure (around 48%) compared to the fund's historical weighting is likely to be maintained in the short term. The prevailing optimism about the economic recovery is spreading: first China, now the US, Europe next. That said, the markets have already risen significantly, and a lot of catching up has already taken place. It will be important to remain attentive to signals suggesting any return to volatility.General information
| Net Asset Value | |
|---|---|
| Calculated | Every business day |
| NAV class B capitalisation shares (09/06/2021) | 151,10 EUR |
| CODES | ISIN capitalisation code : LU0430649086 WKN capitalisation code : A0RNSS |
| Net assets (million) | 444,54 EUR |
| Launch date | 08/06/2009 |
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.