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 - 4th Quarter 2018
The fund posted a decline of 7.9% (retail accumulation share net of fees in USD) in the fourth quarter, compared to a fall of 8.7% for the Asian countries' equity index, the MSCI Asia ex Japan net TR. The Asian markets were volatile, mainly due to trade tensions between the United States and its partners, and to monetary policy tightening in the United States. During the quarter, the Indian and Indonesian equity markets were the least impacted by the recent return of volatility to the markets. They ended the quarter with respective performances (in USD) of 2.5% and 8.7%. On the other hand, Korean and Taiwanese equities were the weakest with performances close to -13% (in USD). From a sector viewpoint, utilities and property posted the best performances, just in positive territory (in USD). In contrast, healthcare and energy weighed on the indices with performances below -16% (in USD). Also notable is the fact that the consumer staples sector - strongly overweighted in the fund - held up relatively well, down just 3.2% (in USD). Apart from consumer staples, the fund is also overweighted in industry and consumer discretionary but has no positions in the energy, commodities and financial sectors. During the fourth quarter, the fund manager strengthened the positions in Tencent, Techtronics, Vinamilk, Universal Robina, Alibaba, Samsonite, Nongshim and Kweichow Moutai. He sold Hanssem, a furniture and kitchens chain in South Korea.
Net Asset Value
Every business day
NAV class B capitalisation shares (15/02/2019)
NAV class A capitalisation shares (15/02/2019)
Date of last dividend payment
Internal capitalisation code : 16623961 Internal distribution code : 16623947 ISIN capitalisation code : LU1008593946 ISIN distribution code : LU1008593862 WKN capitalisation code : A1XBEX WKN distribution code : A1XBEW
The information provided on this website is solely intended for the presentation of BLI - Banque de Luxembourg Investments S.A. (hereinafter “BLI”) and its business.
Type of information available on this website:
The information published on this website does not constitute an offer of products or services analogous to a public offering or any other sales or marketing activity or solicitation to buy or sell securities or encouragement or advice to make a particular investment or to arbitrage securities by any person in any jurisdiction in which such an offer or invitation would be considered illegal or in which the person proposing this offer or invitation is not qualified to do so or to any person to whom it is illegal to propose such an offer or invitation.
The information presented on this site has been obtained or drawn, in whole or in part, from sources considered to be reliable. BLI declines all liability regarding its accuracy or completeness. The information may be removed or amended at any time without prior notice. Past performance is not an indication or guarantee of future performance. BLI does not assume any liability or give any guarantee as to future performance with regard to the products and mandates under its management.
Any person who is not permitted to invest in Luxembourg investment funds, for any reason but related, for example, to his nationality or place of residence, agrees only to consult the documents intended for persons resident in or of the nationality of the specified country, if available. Persons concerned must refrain from consulting documents not intended for their country of residence. Any person who is not qualified as a qualified investor within the meaning of the Luxembourg Law as amended of 10 July 2005 on prospectuses for securities or as an informed investor within the meaning of the Luxembourg Law as amended of 13 February 2007 on specialised investment funds, agrees only to consult the documents intended for non-qualified or non-informed investors. BLI declines all liability in relation to any person and invites users to check, prior to using the website, that there is no legal restriction to prevent or restrict the provision of the information on the website.
Access to the website:
Any person coming under a jurisdiction who, for any reason linked for example to his nationality or country of residence or any other reason, is not permitted to consult websites of foreign management companies must refrain from consulting this website. BLI declines all responsibility with regard to such persons and invites users to check prior to visiting the website that no regulations prevent or restrict them from using the site provided by BLI.
This website is an information website addressed exclusively to qualified investors within the meaning of Luxembourg law (see above) and informed investors within the meaning of Luxembourg law (see above), who may or may not be clients of BLI. However, the services presented on the website are strictly reserved for clients of BLI.
BLI does not provide any guarantee with regard to the operation of the website or absence of errors in its functions and expressly declines any specific, legal or implicit guarantee with regard to the contents of this website. Under no circumstances can BLI be held liable for any damage whatsoever resulting from access to the website.