Investments

AXA World Funds - Global Optimal Income

A basic investment for your bond portfolio.

The Sub-Fund is actively and discretionarily managed in order to capture opportunities in the equity and security markets of OECD countries. Investment decisions are based on a combination of macroeconomic, sector and company specific analysis.



  • Sub-Fund launch date

    15 February 2013

  • Class Launch date

    8 March 2013

  • Reference currency

    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.

    But...

    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 counter-parties, 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.
    • Geopolitical Risk: investments in securities issued or listed in different countries may be affected by movements of foreign exchange rates, changes in laws or restrictions applicable to such investments, changes in exchange control regulations or price volatility.
    • Risk linked to investments in hedge funds: a limited part of the assets of the concerned Sub-Fund (maximum 10%) is exposed to funds pursuing alternative strategies. Investments in alternative funds imply certain specific risks linked, for example, to the valuation of the assets of such funds and to their poor liquidity.

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 World Funds - Global Optimal Income prospectus (PDF) for additional information.

  • Minimum investment

    1 share


    Term:

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    One-off charges

    • Entry charge (applicable by ING Belgium): 3%
    • Exit charge: 0%

    Ongoing charges

    • Ongoing charges taken from the Sub-Fund over a year: 1.45% of which 1.20% of management fees.
    • Custody fee: 0% annum

    For other charges that might be paid by the investor, we refer to the prospectus.


    Taxation

    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: yes
    • Withholding tax (30% depending on the investor’s particular tax situation): no 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 Belgium S.A, Place du Trône 1, 1000 Brussels

Complaints can be lodged with ING – Customer Service – Cours Saint Michel, 60 – 1040 Brussels. If no settlement can be reached in this way, please contact the Banks - Credit - Investments Mediation Service (www.ombfin.be).

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