Equity Selection
Below you can find more information about the “Value Square Fund Equity Selection” compartment.
Remarks
Before deciding to invest in the compartment, you should first read the prospectus and the essential information document (PRIIPS KID). The documents are available in Dutch. You can find these documents further on this page. This is an advertising announcement.
Goal
The sub-fund invests primarily in shares of listed companies without geographical restrictions and in any security that provides access to the capital of these companies.
At least 90% of the income received is paid annually to the holders of distribution shares in the compartment after deduction of costs, fees and commissions so that they can benefit from the Definitive Taxed Income scheme in accordance with Articles 202 and 203 of the Income Tax Code (WIB). In any case, when deciding on the dividend due to the holders of distribution shares, the Annual General Meeting of Shareholders must always adhere to the required minimum distribution percentage as set out in article 203 §2 of the WIB.
Strategy
The assets of this sub-fund are mainly invested in shares of listed companies without geographical restrictions and in any security that provides access to the capital of these companies.
The selection of stocks is based on fundamental analysis and a bottom-up approach, emphasizing the principle of Value investing.
The purpose of the sub-fund is to aim for the highest possible return in absolute terms, rather than improving stock market indices, and at the same time to limit risks through active portfolio management. In circumstances where the manager estimates the downside risks higher than the potential return, the portion invested in stocks may be reduced to invest in cash and money market instruments. The compartment can be invested up to 50% in cash and/or money market instruments. The sub-fund will always be at least 50% invested in shares.
Active portfolio management
The sub-fund's portfolio is actively managed by the portfolio manager, which means that he makes discretionary investment choices at portfolio level within the limits of the investment objective and policy.
Neither the management method nor the calculation of the performance fee are aligned with an index.
features
General
- Compartment of: Value Square Fund
- Legal form: self-managed order
- Domicile: Belgium
Fees and taxes
Costs
- Entry fee: Maximum 1%, for the benefit of your distributor
- Exit allowance: none
- Management fee: A class: 1.5%, C class: 1%
- Ongoing costs (sum of “Management costs and other administrative or operating costs”) and “Transaction costs”): A DIS class: 1.80%, A CAP class: 1.79%, C CAP class: 1.29%, C DIS class: 1.33%
- Performance fee: 10% for returns higher than 6% per year, with a high water mark. More information can be found in the sack's prospectus.
- Anti-dilution levy: In exceptional circumstances, an additional cost (anti dilution levy) may be charged on all entries or withdrawals of a compartment to protect investors against liquidity risk. This cost can range from 0% to a maximum of 5%. More information can be found in the stock prospectus.
Taxes
- The following taxes are imposed on an average non-professional investor (physical person, resident of Belgium).
- Stock market tax: Capitalization classes: 0% upon entry; 1.32% upon exit (max. €4,000). Distribution classes: None.
- Withholding tax: Capitalization classes: None. Distribution classes: 30% on dividends
Minimal investment
- A class: 1 share certificate
- C class: 1 share certificate
Risks
Description of the risks that are considered significant and relevant, as assessed by the compartment:
- Market risk: the sub-fund invests mainly in listed stocks whose prices may fall (significantly), as a result of worsening macroeconomic conditions, specific business conditions, or as a result of general market psychology.
- Liquidity risk: it is not excluded that a large part of the portfolio will consist of small caps. Small caps usually have lower liquidity than blue chips.
- Exchange rate or currency risk: the sub-fund invests worldwide, so a large part of the portfolio is sensitive to exchange rate fluctuations.
- Return risk: the sub-fund follows its own investment strategy and is therefore not linked to an index. As a result, the compartment's return can differ significantly from the general market return.
- Risk dependent on external factors: Uncertainty about the immutability of external factors such as the tax regime.
Investor rights
For more information about investor rights, you can always visit our”Legal information“visit the web page or open this link. The information in the document is available in Dutch, French and English.