Holdings
Below you can find more information about the “Value Square Fund Holdings” 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 purpose of the sub-fund is to aim for the highest possible return in absolute terms, rather than exceeding stock market indices, while limiting risks. The assets are primarily invested in listed shares of holding companies based in the European Economic Area (EEA) and in countries that are members of the Organization for Economic Co-operation and Development (OECD). To a more limited extent, investments can also be made in listed holdings in other countries.
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 purpose of the sub-fund is to aim for the highest possible return in absolute terms, rather than exceeding stock market indices, while limiting risks. The assets are invested at least 65% in listed shares of holding companies based in the European Economic Area (EEA) and in countries that are members of the Organization for Economic Co-operation and Development (OECD). To a more limited extent, investments can also be made in listed holdings in other countries. Risk diversification is achieved by investing in at least 16 different holdings, which in turn usually hold diversified assets. The Net Inventory Value (NAV) can fluctuate significantly as a result of the composition of the portfolio. The selection of stocks is based on fundamental analysis and a bottom-up approach, emphasizing the principle of Value investing. 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.
The management method is not aligned with an index.
Essentiële
informatiedocumenten
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: C class: 1%
- Ongoing costs (sum of “Management costs and other administrative or operating costs”) and “Transaction costs”): C CAP class: 1.34%, C DIS class: 1.33%
- Performance fee: none
- 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
- 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 depends on external factors: the benefit for the holders of distribution shares in this compartment is highly dependent on maintaining the current tax regime for Definitive Taxed Income and may decrease or even disappear altogether if tax legislation changes
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.