Data as of 14/02/2019

Risk level



Recommended investment horizon : > 8 years

Average annual performance since launch

3,99 %

Performance as at 14/02/2019

2016 -0,08 %
2017 10,76 %
2018 -11,13 %
Since 01/01/2019 8,17 %
Over the last 12 months -1,14 %
Over 3 years 24,61 %
Since launch 97,48 %
Asset breakdown
Equities 84,31 %
Cash 8,45 %
Hedged Equities 3,70 %
Absolute Return 3,54 %
Breakdown by currency
EUR ---
JPY ---
USD ---
Breakdown by region / by countries
Bermuda -0,00 %
Hong Kong -0,00 %
Switzerland -0,01 %
Ireland -0,01 %
Finland -0,03 %
Others -3,65 %
Main positions
Schroder International Selection Asian Total Return - C CAP 5,38 %
Vontobel US Equity - I CAP 4,57 %
Robeco Capital Growth QI European Conservative Equities - I EUR CAP 3,96 %
Lindsell Train Global Equity - Accum Ptg C USD CAP 3,89 %
Bakersteel Global Precious Metals - I EUR CAP 3,85 %

Investment objective and policy

This fund has a minimum net equity exposure of 75% and invests in UCITS and other UCIs with no geographical, sector or currency restriction. The remaining assets may be invested in bond funds, cash or any other type of transferable security that is listed or traded on regulated markets. The emphasis is on international diversification of investments and flexibility in terms of themes and sectors that may potentially be present within the fund.

Management report - 4th Quarter 2018

The fund gained 0.3% in the third quarter of 2018. Equity risk accounted for about 88% at the end of the quarter, slightly lower than in the second quarter. The portfolio's positioning is defensive given the increase in risk factors facing the equity markets: monetary tightening, inflationary pressures, oil price hikes, geopolitical uncertainties and threats of trade wars to mention just a few. The fund's performance could not entirely match that of the global equity index, mainly due to a negative stock-selection impact. On the one hand, the fund was damaged by underweighting in US stocks, which produced the best regional performance over the quarter, and on the other hand by a relatively high weighting in emerging markets, which underperformed. The performance gap between these two regions widened significantly in the past quarter and impacted the fund's performance. Although growth funds continued to outperform over the quarter, there was a marked style rotation at the end of the third quarter towards value, triggered by an increase in interest rates globally.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (14/02/2019) 197,48 EUR
CODES Internal capitalisation code : 1393353000
ISIN capitalisation code : LU0135980968
WKN capitalisation code : 762210
SICOVAM capitalisation code : 509654
Net assets (million) 77,03 EUR
Launch date 03/10/2001

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.