Data as of 19/10/2017

Risk level



Recommended investment horizon : > 2 years

average annual performance since launch

4,68 %

Performance as at 19/10/2017

2014 6,22 %
2015 -0,29 %
2016 0,53 %
Since 01/01/2017 2,06 %
Over the last 12 months -1,93 %
Over 3 years 2,39 %
Since launch 240,97 %
Asset breakdown
Bonds 92,80 %
Cash 7,20 %
Breakdown by currency
USD 100,00 %
EUR -0,00 %
Main positions
US Treasury Bond 2009 3.5% 15-02-2039 3,50 15/02/2039 4,83 %
US Treasury Bond 2006 2.467297% 15-01-2026 2,47 15/01/2026 4,83 %
US Treasury Note Series B 2021 2011 3.625% 15-02-2021 3,62 15/02/2021 4,56 %
US Treasury Note Series F 2023 2013 2.75% 15-11-2023 2,75 15/11/2023 4,48 %
US Treasury Note Series P 2020 2013 2.125% 31-08-2020 2,12 31/08/2020 4,34 %

Investment objective and policy

The fund invests mainly in fixed income, variable income and convertible bonds denominated in USD, which are issued by first-rate issuers. Its key objective is to achieve a regular income.

Management report - 2nd Quarter 2017

The USD bond market fared rather well in the second quarter, with the 10-year benchmark yield falling from 2.39% to 2.31% from the end of March to end-June, driven mainly by the fact that 12-month inflation fell from 2.4% at end-March to 1.6% at end-June. However, as statistics on economic growth (+2.1% p.a.) and the job market (with an unemployment rate at 4.9%) were very solid, the US Federal Reserve stuck to its monetary policy stance, raising its key rate from 0.25% at mid-June to 1.25%.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (19/10/2017) 1 261,91 USD
NAV class A capitalisation shares (19/10/2017) 287,54 USD
Latest dividend 13,51 USD
Date of last dividend payment  01/02/2017
CODES Internal capitalisation code : 1134389000
Internal distribution code : 1134360000
ISIN capitalisation code : LU0093570926
ISIN distribution code : LU0093570843
WKN capitalisation code : 937802
WKN distribution code : 937803
SICOVAM capitalisation code : 959299
SICOVAM distribution code : 959298
Net assets (million) 118,91 USD
Launch date 16/09/1988

European tax regime

35% on redemptions
35% on dividends (distribution shares)

Belgian tax regime

27% on redemptions
27% on dividends (distribution shares)

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.