AXA World Fund Euro 5-7 (AXA IM)
A basic investment for your bond portfolio.
AXA WF Euro 5-7, a sub-fund of the SICAV/BEVEK investment fund under Luxembourg law AXA World Funds, seeks performance by investing mainly in corporate and governments debt securities in Euros, over a medium term period.
Important information before you continue
Before you invest in AXA WF Euro 5-7, your are advised to read carefully the following documents:
These documents are available for free in your ING-branch or on this website. These documents are available in English, Dutch or French.
The fund AXA WF Euro 5-7 is not an ING fund.
The Sub-Fund will be managed with an interest rate sensitivity between 3 and 8. The Sub-Fund is actively managed in order to capture opportunities in the Euro corporate and government bonds market.
Historical records – Actuarial Yield - Capitalization share
Source : Morningstar Direct ™
Actuarial gain expressed on an annual basis in the currency of the relevant UCITS over 1 year, 3 years, 5 years, 10 years and since inception. It relates to end-of-month returns based on historical data. The returns shown are valid for the capitalised parts of the UCITS and take no account of entry fees and potential taxes. Past performance is no guarantee of future performance and can be misleading. The value of shares in the fund and income received from it can go down as well as up, and investors may not get back the full amount invested. All performance data shown is in Euro, include reinvested dividends and are net of management fees. Sales charges and other commissions, taxes and other relevant costs paid by the investor are not included in the calculations When investing in a fund denominated in a foreign currency, your performance may also be affected by currency fluctuations.
Sub-Fund launch date
6 September 2005
Class Launch date
17 April 2006
The reference currency is the euro.
For an investor looking for
- An actively managed investment that can utilise all opportunities in the corporate and government bond market.
- Moderate interest sensitivity (duration).
- An investment period of at least three years.
The main risks for the Sub-Fund are :
- Credit Risk : risk that issuers of debt securities held in the Sub-Fund may default on their obligations or have their credit rating downgraded, resulting in a decrease in the Net Asset Value.
- Counterparty Risk: risk of bankruptcy, insolvency, or payment or delivery failure of any of the Sub-Fund's counterparties, leading to a payment or delivery default.
- Impact of any techniques such as derivatives: certain management strategies involve specific risks, such as liquidity risk, credit risk, counterparty risk, legal risk, valuation risk, operational risk and risks related to the underlying assets. The use of such strategies may also involve leverage, which may increase the effect of market movements on the Sub-Fund and may result in significant risk of losses.
- Market risk: Stocks and/or financial instruments are impacted by various factors. These include, but are not limited to, the development of the financial market, the economic development of issuers of stocks and/or financial instruments who are themselves affected by the general world economic situation and the economic and political conditions in each country
- Non-performance risk: the return realised during a specific period may be positive or negative, depending on the fund's investment strategy. The non-performance risk is strongly linked to the market risk
- Capital risk: No guarantee is provided as to the recovery of your initial investment.
The net asset value is calculated in Belgium each bank working day. The net asset value is published every public banking business day in Belgium in the financial press, as well as on the BeAMA website (www.beama.be/en/nav). It is also available at the Management Company’s registered address and over the counter from your financial services provider.
A swing price may be applied. Swing pricing aims to reduce the dilution effect brought about when significant operations within a sub-fund compel its manager to buy or sell its underlying assets. These transactions give rise to transaction fees and taxes that have an effect on the fund’s value, as well as on all its investors. Where swing pricing is applied, the sub-fund’s net asset value is adjusted by a particular amount when the capital flow exceeds a certain threshold (the swing factor). This amount is designed to offset expected transaction fees resulting from the difference between incoming and outgoing capital. Swing pricing is only used on rare occasions, if at all.
Please refer to the AXA WF Euro 5-7 prospectus (PDF) for additional information.
- Entry charge (applicable by ING Belgium): 3%
- Exit charge: 0%
- Ongoing charges taken from the Sub-Fund over a year: 0.75% of which 0.6 % of management fees.
- Custody fee: 0% annum
For other charges that might be paid by the investor, we refer to the prospectus.
Stock exchange tax (applicable to redemptions only):
- Capitalization share: 1.32% (max 4,000 euros)
- Distribution share: none
Withholding tax on dividends:
- Capitalization share: none
- Distribution share: 30%
Withholding tax in case of redemption :
- Sub-fund permitted to invest more than 10% of assets in debt securities: yes
- Sub-fund actually more than 10% invested in debt securities: no
- Withholding tax (30% depending on the investor’s particular tax situation): applicable
*Tax treaty based on the current legislation. Dividends received from distributing shares are subject to the Belgian withholding tax of 30%. The Belgian withholding tax applicable to interests included in the repurchase price of accumulating and distributing shares investing more than 10% of their assets in any kind of debts amounts to 30%.
This tax system applies to Retail customers – private individuals resident in Belgium. Taxation depends on the individual situation of each customer and may change in the future.
Financial Service Belgium : AXA Bank Europe N.V., Vorstlaan 25 - 1170 Brussels