NN (L) Banking & Insurance (USD)
A fund expecting potential returns in excess of returns on cash (euros) whilst controlling volatility*..
The fund invests in financial services companies such as banks, consumer finance companies, investment banks, asset management and insurance companies.
Important information before you continue
Before you invest in NN (L) Banking & Insurance (USD), 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 NN (L) Banking & Insurance is not an ING fund.
The portfolio is diversified across different countries. Measured over a period of several years, we aim to beat the performance of the benchmark MSCI World Financials NR. We strive to add value to the fund by stock selection based on a thorough company analysis. We consciously weigh the upside potential from the current share price against the risks involved before including a stock in the fund. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily.
Historical records – Actuarial Yield - Capitalization share
|Valid on 28/2/2018||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 (%)|
|LU0119198637||NN IP||NN (L) Banking & Insurance||Equity||4||820,14||US Dollar||18,35||10,47||9,59||0,88||N/A||97/09/maandag||0,7||/en/retail/investing/nn-l-banking-insurance||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.
Sub-Fund launch date
25 Augustus 1997
Class Launch date
1 September 1997
The reference currency is the USD. The return in EUR can be influenced positively or negatively due to the exchange rate.
For an investor looking for:
- Who want to invest in a portfolio of financial values, diversified over several countries
- Who are seeking for a sectoral diversification
The main risks for the Sub-Fund are :
- 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.
- Currency risk: The currency exposure can also affect the results of the sub-fund.
- Concentration risk: Investments in a specific sector have a higher degree of concentration compared to investments that are diversified among different sectors.
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 NN (L) Banking & Insurance 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 : 1,84% of which 1,50 % of management fees.
Custody fee: 0%/ annum
For other charges that might be paid by the investor, we refer to the prospectus (PDF).
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: ING Belgium S.A., 24, avenue Marnix/Marnixlaan, Brussels