AXA WF Euro Credit Plus
opportunities provided by a large investment universe.
diversification compared to traditional global equity funds.
Investment grade corporate and Government bonds with limited allocation to high yield bonds
AXA WF Euro Credit Plus, a sub-fund of the SICAV/BEVEK investment fund under Luxembourg law AXA World Funds, seeks to achieve a mix of income and capital growth by investing mainly in investment grade and high yield debt securities in Euros, over a medium term period.
Before you invest in AXA WF Euro Credit Plus, your are advised to read carefully the following documents:
- The Key Investor Information Document or KIID (PDF)
- The prospectus (PDF)
- The last periodic report (PDF)
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 Credit Plus is not an ING fund.
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.
Fund launch date: 28 February 2003
Class launch date: 2003
Reference currency: The reference currency is the euro.
For an investor seeking for:
- An access to OECD country bonds denominated in euros.
- Allocation to investment grade and high yield bonds.
- Optimal diversification.
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.
- Liquidity Risk: risk of low liquidity level in certain market conditions that might lead the Sub-Fund to face difficulties valuing, purchasing or selling all/part of its assets and resulting in potential impact on its 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 realized 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 occurrence of any of these risks may have an impact on the net asset value of your portfolio.
Net Asset Value:
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 (http://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 Credit Plus prospectus (PDF) for additional information.
Minimum investment: 1 part
- Entry charge (applicable by ING Belgium): 3%
- Exit charge: 0%
Ongoing charges taken from the Sub-Fund over a year : 1.05% of which (maximum) 0.9 % 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 2000 EUR)
- Distribution share: none
- Withholding tax on dividends:
- Capitalization share: none
- Distribution share: node=/RATES/FONDSEN/ROER_VOORH_DIVIDENDEN;replace=html%
- Withholdingtax in case of redemption:
- Sub-fund permitted to invest more than 25% of assets in debt securities: yes
- Sub-fund actually more than 25% invested in debt securities: yes
- Withholding tax (node=/RATES/FONDSEN/ROER_VOORH_TERUGKOOP;replace=html% 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 node=/RATES/FONDSEN/ROER_VOORH_DIVIDENDEN;replace=html%. The Belgian withholding tax applicable to interests included in the repurchase price of accumulating and distributing shares investing more than 25% of their assets in any kind of debts amounts to node=/RATES/FONDSEN/ROER_VOORH_INKOOP;replace=html%.
Identity of the financial agent
Financial Service Belgium : AXA Bank Europe N.V., Vorstlaan 25 - 1170 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 node=/RATES/GENERAL/OMBUDS_EN;replace=html (www.ombudsfin.be).
Are you interested?
Make an appointment now at the ING branch of your choice.