Data as of 15/02/2019

Risk level

Low

High

Recommended investment horizon : > 10 years

Average annual performance since launch

1,65 %


Performance as at 15/02/2019

FUNDS
2016 0,51 %
2017 29,77 %
2018 -15,72 %
Since 01/01/2019 8,17 %
Over the last 12 months -7,72 %
Over 3 years 26,39 %
Since launch 8,58 %
Asset breakdown
Equities 93,10 %
Cash 6,90 %
Breakdown by currency
CNY 19,29 %
HKD 18,67 %
KRW 17,86 %
TWD 13,13 %
USD 8,73 %
Others 22,31 %
Main positions
Tencent Holdings Ltd 4,23 %
Thai Beverage PCL 3,64 %
Taiwan Semiconductor Manufacturing Co Ltd 3,57 %
Samsung Electronics Co Ltd 3,48 %
Alibaba Group Holding Ltd Sponsored ADS 3,45 %

Investment objective and policy

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.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (15/02/2019) 106,48 USD
NAV class A capitalisation shares (15/02/2019) 102,98 USD
Latest dividend 0,44 USD
Date of last dividend payment  08/02/2019
CODES Internal capitalisation code : 16623961
Internal distribution code : 16623947
ISIN capitalisation code : LU1008593946
ISIN distribution code : LU1008593862
WKN capitalisation code : A1XBEX
WKN distribution code : A1XBEW
Net assets (million) 491,02 USD
Launch date 30/01/2014

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.

Factsheet: BL Equities Asia USD - B CAP