Equity Selection
Below you can find more information about the "Value Square Fund Equity Selection" sub-fund.
Comments
Before deciding to invest in the sub-fund, one should read the prospectus and the key information document (PRIIPS KID). The documents are available in Dutch. You will find these documents further on this page. This is a publicity announcement.
Target
The sub-fund invests primarily in shares of publicly traded companies without geographical limitation and in any security that provides access to the capital of these companies.
At least 90% of the income received after deduction of expenses, fees and commissions shall be distributed annually to the holders of distribution units of the sub-fund so that they may benefit from the Definitively Taxed Income system in accordance with Art. 202 and Art. 203 of the Income Tax Code (ITC). In any case, the Annual General Meeting of Shareholders, when deciding on the dividend attributable to distribution share certificate holders, must always adhere to the required minimum distribution percentage as stipulated in Article 203 §2 of the Income Tax Code (ITC).
Strategy
The assets of this sub-fund are invested primarily in shares of listed companies with no geographical limitation and in any security giving access to the capital of these companies.
Stock selection is based on fundamental analysis and bottom-up approach emphasizing the principle of Value investing.
The objective of the sub-fund is to pursue the highest possible return in absolute terms, rather than outperforming stock market indices, while at the same time limiting risks through active portfolio management. In circumstances where the manager considers the downside risks to be higher than the potential return, the portion invested in equities may be reduced in favor of investments in cash and money market instruments. The sub-fund may invest up to 50% in cash and/or money market instruments. The sub-fund will always invest at least 50% in equities.
Active portfolio management
The sub-fund's portfolio is actively managed by the portfolio manager, meaning that he makes discretionary investment choices at the portfolio level within the limits of the investment objective and policy.
Neither the method of management nor the calculation of the performance fee are aligned with an index.
Features
General
- Compartment of: Value Square Fund
- Legal form: self-managed bevek
- Domicile: Belgium
Costs and taxes
Cost
- Entry fee: Maximum 1%, for the benefit of your distributor
- Exit fee: none
- Management fee: A class: 1.5%, C class: 1%
- Ongoing charges (sum of "Management fees and other administrative or operating costs" and "Transaction costs"): A DIS class: 1.72%, A CAP class: 1.70%, C CAP class: 1.26%, C DIS class: 1.30%
- Performance fee: 10% for returns higher than 6% per year, with high water mark. More explanation can be found in the prospectus of the sicav.
- Anti-dilution levy: In exceptional circumstances, an additional cost (anti dilution levy) may be charged on all entries or all exits of a sub-fund to protect investors against liquidity risk. This charge may vary from 0% to a maximum of 5%. More information can be found in the prospectus of the Sicav.
Taxes
- The following taxes are imposed on an average non-professional investor physical person resident in Belgium
- Stock market tax: Capitalization classes: 0% on entry; 1.32% on exit (max. €4000). Distribution classes: None.
- Withholding tax: Capitalization classes: None. Distribution classes: 30% on dividends
Minimum investment
- A class: 1 partial proof
- C class: 1 partial certificate
Risks
Description of risks deemed significant and relevant, as estimated by the compartment:
- Market risk: the sub-fund invests primarily in listed equities whose prices may (significantly) decline, due to deteriorating macroeconomic conditions, specific business conditions, or due to general market psychology.
- Liquidity risk: it cannot be ruled out that a large part of the portfolio will consist of small caps. Small caps tend to have lower liquidity than blue chips.
- Exchange rate or currency risk: the sub-fund invests globally, making a fair portion of the portfolio 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 sub-fund's return may differ significantly from the overall market return.
- Risk dependent on external factors: Uncertainty about the immutability of external factors such as the tax regime.
Investor rights
For more information on investor rights, you can always visit our"Legal Information" webpage or open this link. The information in the document is available in Dutch, French and English.