Data as of 19/10/2017

Risk level

Low

High

Recommended investment horizon : > 4 years

average annual performance since launch

3,92 %


Performance as at 19/10/2017

FUNDS
2014 16,73 %
2015 1,47 %
2016 3,92 %
Since 01/01/2017 7,12 %
Over the last 12 months 5,00 %
Over 3 years 19,99 %
Since launch 61,93 %
Asset breakdown
Equities 80,13 %
Cash 10,55 %
Bonds 9,32 %
Breakdown by currency
EUR 32,92 %
CHF 13,04 %
USD 12,45 %
JPY 10,19 %
CAD 9,85 %
Others 21,55 %
Breakdown by region / by countries
USA 17,49 %
Switzerland 10,46 %
Japan 10,18 %
Canada 9,82 %
Hong Kong 7,33 %
Others 24,84 %
Main positions
Roche Holding AG Genussschein 4,88 %
Franco Nevada Corp 4,40 %
US Treasury Bond Series 2043 2013 2.875% 15-05-2043 2,88 15/05/2043 4,04 %
US Treasury Bond 2015 2.5% 15-02-2045 2,50 15/02/2045 3,97 %
Accenture PLC A 2,62 %

Investment objective and policy

The fund aims to beat returns offered by money-market products and bonds while avoiding volatility usually associated with the stock markets. This means that the fund offers greater capital protection during bear markets. The weighting of the various asset classes may change significantly depending on how attractive they are in relation to each other (from 0 to 100%).

Management report - 2nd Quarter 2017

At the end of June, the fund was 81% invested in equities. Fixed-income investments accounted for 19% (9% cash, 10% bonds). Within the equity segment, 9.5% was invested in gold-mining companies (North America). The portfolio's geographic allocation excluding gold mines was as follows: eurozone 10%, other European countries 17.5%, North America 18%, Asia Pacific ex Japan 14.5%, Japan 10%. In terms of sectors, the equity portfolio kept a defensive bias, continuing to prioritise companies with a very sound financial position and good earnings visibility. After factoring in currency futures, the currency allocation was as follows: 29.5% in EUR, 19.5% in USD, 14.5% in CHF, 9.5% in CAD, 10% in JPY and 17% in other currencies.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (19/10/2017) 161,93 EUR
NAV class A capitalisation shares (19/10/2017) 119,76 EUR
Latest dividend 1,75 EUR
Date of last dividend payment  01/02/2017
CODES Internal capitalisation code : 1786405000
Internal distribution code : 1786393000
ISIN capitalisation code : LU0211340665
ISIN distribution code : LU0211339816
WKN capitalisation code : A0D9HW
WKN distribution code : A0D9HV
Net assets (million) 1 492,56 EUR
Launch date 01/04/2005

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.