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If you have any questions, or would like to meet us or become a client, please contact our banking advisers who will be happy to respond according to your individual requirements.
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If you have any questions, or would like to meet us or become a client, please contact our banking advisers who will be happy to respond according to your individual requirements.
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BL Bond Euro
Bond fund
Data as of 19/08/2019
Risk level
| Low |  | High |
Performance
Average annual performance since launch 4,25 %
Performance as at 19/08/2019
| FUNDS | |
|---|---|
| 2016 | 0,66 % |
| 2017 | -1,66 % |
| 2018 | -0,54 % |
| Since 01/01/2019 | 3,52 % |
| Over the last 12 months | 3,20 % |
| Over 3 years | 0,17 % |
| Since launch | 229,71 % |
Composition
| Asset breakdown | |
|---|---|
| Bonds | 101,16 % |
| Cash | -1,16 % |
| Main positions | |
|---|---|
| Deutschland 2015 1% 15-08-2025 1,00 15/08/2025 | 11,14 % |
| Deutschland 2014 1% 15-08-2024 1,00 15/08/2024 | 10,95 % |
| Deutschland 2013 1.5% 15-05-2023 1,50 15/05/2023 | 10,94 % |
| Deutschland 2012 1.75% 04-07-2022 1,75 04/07/2022 | 10,78 % |
| Deutschland 2013 1.5% 15-02-2023 1,50 15/02/2023 | 9,55 % |
Strategy
Investment objective and policy
The fund invests mainly in fixed income, variable income and convertible bonds denominated in euro or issued by top-quality issuers in the euro zone. Its key objective is to achieve a regular income.Management report - 2d Quarter 2019
Eurozone sovereign bond prices rose during the second quarter. The JPMorgan GBI EMU Bond index posted positive performance of +3.41%. Periphery country bonds rose by 4.47% while the sub-index for the core eurozone countries (excluding periphery debt) gained 2.68% over the quarter. The Germany 10-year bond yield was down from -0.07% to -0.327% over the period. The ECB is keeping its interest rates unchanged. Having announced a hike in interest rates last quarter, the ECB has further delayed this rise to June 2020. Its growth forecasts have not been fundamentally called into question. It has however defined the modalities of its new giant loan programme to banks that was announced last quarter (TLTRO III). Eurozone inflation remains low at 1.2% and the unemployment rate has stabilised at around 7.5%. In common with the rest of the global economy, the eurozone is suffering from a number of political uncertainties including the US-China trade war, and concerns over Brexit and Italy. We think that the context will remain favourable for European bond markets given its relatively stable growth and lack of inflationary pressures.General information
| Net Asset Value | |
|---|---|
| Calculated | Every business day |
| NAV class B capitalisation shares (19/08/2019) | 1 131,74 EUR |
| NAV class A capitalisation shares (19/08/2019) | 233,00 EUR |
| Latest dividend | 0,89 EUR |
| Date of last dividend payment | 08/02/2019 |
| CODES | Internal capitalisation code : 1061282000 Internal distribution code : 1061266000 ISIN capitalisation code : LU0093570769 ISIN distribution code : LU0093570686 WKN capitalisation code : 989647 WKN distribution code : 937800 SICOVAM capitalisation code : 959301 SICOVAM distribution code : 959300 |
| Net assets (million) | 40,01 EUR |
| Launch date | 16/09/1988 |
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.