Sectorial split

Not available

Factsheet

SRRI risk indicator ²

Investment policy

The Fund aims to outperform its reference indicator over a period exceeding five years, using an active, discretionary investment strategy. 2 The reference indicator is the MSCI AC WORLD NR (USD) index, calculated with net dividends reinvested. 2 The Fund is invested in financial markets all over the world. Its main performance drivers are as follows: - Equities: at least 60% of the Fund's net assets are permanently exposed to international equities (all capitalisations, without restrictions in terms of sector or region, including emerging countries); - Currencies: the Fund may use currencies other than the Fund's valuation currency for exposure and hedging purposes. Net currency exposure may be as much as 125% of net assets; - Credit: the Fund invests on all international markets. 2 Up to 10% of the net assets may be invested in contingent convertible bonds (?CoCos?). CoCos are regulated subordinated debt instruments that are complex, but consistent in nature. 2 The decision to buy, hold or sell debt securities will not automatically and solely depend on their rating but also an internal analysis based mainly on return, credit rating, liquidity and maturity criteria. 2 The manager may use Relative Value strategies as performance drivers, looking to take advantage of the relative value between different instruments. Short positions may also be taken through derivatives. 2 The Fund may invest in transferable debt securities and bonds on an ancillary basis. Other information: 2 The overall modified duration of the fixed income portfolio is between -4 and +5. Modified duration is defined as the change in portfolio capital (as %) for a change in interest rates of 100 basis points. 2 The Fund uses futures and options for hedging or arbitrage purposes, and/or to expose the portfolio to the following risks (directly or via indices): currencies, bonds, equities (all categories of capitalisation), ETFs, dividends, volatility, variance (the latter two categories for up to 10% of net assets) and commodities (up to 20% of assets). The derivatives available are options (vanilla, barrier, binary), futures and forwards, swaps (including performance) and CFDs (contracts for difference) on one or more underlyings. Overall exposure to derivatives is controlled by combining expected leverage of 2 with the Fund's VaR limit, which must not be more than double the reference indicator's. 2 The Fund may invest up to 10% of its net assets in units or shares of investment funds. 2 This Fund may not be suitable for investors planning to withdraw their investment within five years. 2 Investments may be redeemed each business day on request. Subscription and redemption requests are centralised on each NAV calculation and publication day before 18:00 CET/ CEST and are executed on the next business day using the previous day's NAV. 2 This unit is an accumulation unit.