Data as of 15/02/2019

Risk level

Low

High

Recommended investment horizon : > 4 years

Average annual performance since launch

3,79 %


Performance as at 15/02/2019

FUNDS
2016 3,92 %
2017 8,19 %
2018 -4,94 %
Since 01/01/2019 7,70 %
Over the last 12 months 7,79 %
Over 3 years 20,22 %
Since launch 67,44 %
Asset breakdown
Equities 72,62 %
Cash 17,00 %
Bonds 10,38 %
Breakdown by currency
EUR 36,30 %
JPY 15,28 %
CHF 10,92 %
CAD 9,83 %
USD 7,55 %
Others 20,14 %
Main positions
Franco Nevada Corp 4,50 %
Roche Holding AG Genussschein 4,15 %
US Treasury Bond Series 2043 2013 2.875% 15-05-2043 2,88 15/05/2043 3,59 %
US Treasury Bond 2015 2.5% 15-02-2045 2,50 15/02/2045 2,98 %
Royal Gold Inc 2,98 %

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 - 4th Quarter 2018

At the end of December 2018, the fund was 83% invested in equities. Fixed-income investments accounted for 17% of BL-Global Flexible EUR (5.5% cash, 11.5% bonds). Within the equity portfolio, 15% was invested in gold companies (North America). The geographic allocation of the equity portfolio (excluding gold-mining companies) was as follows: eurozone 11.5%, other European countries 17%, North America 10%, Asia Pacific ex Japan 16.5%, Japan 13%. In terms of sectors, the equity portfolio maintained a defensive bias, continuing to focus on companies with a sound financial situation and offering good earnings visibility. After taking foreign exchange futures into account, the currency allocation was as follows: 40% in EUR, 7.5% in USD, 10.5% in CHF, 9% in CAD, 14% in JPY and 19% in other currencies.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (15/02/2019) 167,44 EUR
NAV class A capitalisation shares (15/02/2019) 122,63 EUR
Latest dividend 0,41 EUR
Date of last dividend payment  08/02/2019
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) 1 216,63 EUR
Launch date 01/04/2005

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 Global Flexible EUR - B CAP