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.
Important information before you continue
Before you invest in AXA World Funds - Global Optimal Income, 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 World Funds - Global Optimal Income is not an ING fund.
The securities selection process is mainly based on a rigorous analysis of the companies' business model, quality of management, growth prospects and overall risk return profile. The Fixed Income allocation is managed in order to mitigate the volatility of equity returns. The Sub-Fund invests in a set of equities (including high dividend equities) and fixed income securities issued by any governments and companies which are domiciled or listed in OECD countries. The Sub-Fund may invest up to 20% of its assets in securities issued by any governments and companies based in non-OECD countries. The investment policy may be achieved by direct investments and through derivatives, especially by entering for instance into total return swaps on equities, indices or bonds and credit derivatives swaps on bonds. The Sub-Fund's global exposure will be monitored by using the absolute Value-at-Risk (VaR) measurement with a maximum VaR of 3.40% with a five (5) Business Days horizon and 95% confidence level which corresponds to a VaR of 9.62% with a twenty (20) Business Days horizon and 99% confidence level under VaR normal distribution assumptions. This means that there is a probability of 5% that a loss experienced by the Sub-Fund within the five (5) Business Days horizon may be higher than 3.40% of the Sub-Fund's Net Asset Value, under normal market conditions. The Investment Manager expects that the level of leverage of the Sub-Fund based on the sum of the notional approach will be between 0 and 3. However, the attention of any investor in the Sub-Fund is drawn to the fact that the effective level of leverage of the Sub-Fund may be higher than the expected level of leverage set forth above from time to time due to market conditions. Derivatives may also be used for hedging purposes.
Taken from the document Key Investor Information Document or KIID (PDF).
Historical records – Actuarial Yield - Capitalization share
|Valid on 30/04/2018||Return (%)|
|id||Fund manager||Fund||Fund Type||Morningstar™||inventaris waarde||Currency||after 1 year||after 3 years||after 5 years||after 10 years||since inception||Launch date||Year-to-date||url||award||Return (%)|
|LU0465917044||AXA IM||AXA World Funds - Global Optimal Income||Mixed||N/A||148,25||Euro||7,94||3,43||7,98||N/A||7,95||13/03/vrijdag||1,3||/en/retail/investing/axa-world-funds-global-optimal-income||0||True|
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
15 February 2013
Class Launch date
8 March 2013
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 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.
- Entry charge (applicable by ING Belgium): 3%
- Exit charge: 0%
- 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.
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