Data as of 19/10/2017

Risk level



Recommended investment horizon : > 10 years

average annual performance since launch

2,91 %

Performance as at 19/10/2017

2014 13,67 %
2015 12,67 %
2016 2,45 %
Since 01/01/2017 5,51 %
Over the last 12 months 4,94 %
Over 3 years 31,84 %
Since launch 62,70 %
Asset breakdown
Equities 81,75 %
Hedged Equities 13,73 %
Cash 4,52 %
Breakdown by currency
USD 37,72 %
EUR 20,62 %
JPY 12,04 %
CHF 4,52 %
TWD 3,74 %
Others 21,35 %
Breakdown by region / by countries
USA 23,01 %
France 12,12 %
Japan 10,21 %
Germany 4,74 %
United Kingdom 3,67 %
Others 27,99 %
Main positions
SAP SE Stamm 2,81 %
Unilever NV Cert. of shs 2,45 %
Taiwan Semiconductor Manufacturing Co Ltd ADR repr 5 shs 2,42 %
LVMH Moet Hennessy Louis Vuitton SE 2,32 %
Microsoft Corp 2,21 %

Investment objective and policy

BL-Global Equities invests in international equities with no restriction with regard to market capitalisation. Geographically, the fund invests in Europe and the United States, and from time to time in Japan and the emerging markets. The fund aims to achieve long-term capital gains.

Management report - 2nd Quarter 2017

In the second quarter of 2017, the portfolio continued to have a defensive structure, with net exposure to equities of 83.5%. At the end of June, 95% of the fund was invested in equities, with 11.5% of this allocation hedged through the sale of futures. The portfolio's geographic allocation was as follows: Europe 32%, United States 36.5% (11.5% hedged), Japan 11% and emerging markets 15.5%. Sector allocation was: consumer 40%, industry and materials 21%, healthcare 18% and technology 16%. In terms of individual stocks, new positions were opened in Zoetis in the United States and Essity in Europe. At the same time, the positions in Pandora, JSR, Cisco Systems, Mattel and WW Grainger were sold.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (19/10/2017) 813,49 EUR
NAV class A capitalisation shares (19/10/2017) 164,87 EUR
Latest dividend 1,89 EUR
Date of last dividend payment  01/02/2017
CODES Internal capitalisation code : 1287012000
Internal distribution code : 13412990
ISIN capitalisation code : LU0117287580
ISIN distribution code : LU0439764787
WKN capitalisation code : 577995
WKN distribution code : A0X9BG
SICOVAM capitalisation code : 500426
Net assets (million) 318,40 EUR
Launch date 31/10/2000

European tax regime


Belgian tax regime

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.