Data as of 19/10/2017

Risk level



Recommended investment horizon : > 6 years

average annual performance since launch

6,47 %

Performance as at 19/10/2017

2014 16,33 %
2015 -0,63 %
2016 4,64 %
Since 01/01/2017 5,38 %
Over the last 12 months 6,55 %
Over 3 years 17,20 %
Since launch 42,04 %
Asset breakdown
Equities 89,69 %
Cash 10,31 %
Breakdown by currency
USD 31,23 %
CHF 15,33 %
GBP 12,79 %
EUR 9,40 %
CNY 4,99 %
Others 26,26 %
Breakdown by region / by countries
USA 23,79 %
Switzerland 13,83 %
United Kingdom 12,79 %
China 4,99 %
Netherlands 3,74 %
Others 29,60 %
Main positions
Unilever NV Cert. of shs 3,74 %
Swedish Match AB 3,09 %
Nestle SA nom 2,97 %
Hengan International Group Co Ltd 2,91 %
PepsiCo Inc 2,84 %

Investment objective and policy

The fund seeks long-term capital appreciation by investing in equities offering high dividend yields. BL-Equities Dividend invests in international companies whose current or expected dividend yield is higher than their benchmark index. There is no specific geographical, sector or monetary allocation. Companies are selected based on their valuation and intrinsic quality.

Management report - 2nd Quarter 2017

No new positions were opened in the second quarter of 2017. On the other hand, we sold two of our holdings. After several years in the BL-Equities Dividend portfolio, Oesterreichische Post (postal services) exited the fund for valuation reasons. A different scenario was responsible for the other sale: a few weeks after our initial investment in Mead Johnson, leader in infant formula and toddler nutrition, we were forced to sell our holding following the takeover bid announced at the beginning of February by Reckitt Benckiser (also held in the portfolio). At the end of the period, BL-Equities Dividend offered a gross weighted average yield of 3.5%. The significant amount of cash held by the fund reflects our prudence over the valuation of the quality stocks in our investment universe.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (19/10/2017) 141,74 USD
CODES Internal capitalisation code : 13774684
ISIN capitalisation code : LU0751781666
WKN capitalisation code : A1JUGG
Net assets (million) 761,65 USD
Launch date 16/03/2012

European tax regime


Belgian tax regime


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.