AXA WF Framlington Europe Small Cap
The right strategy to round out any long-term investment portfolio…
AXA WF Framlington Europe Small Cap, sub-fund of the Axa World Funds SICAV organized under the laws of Luxembourg, aims to generate long-term capital appreciation denominated in euros, through investment in small and mid cap equities of companies domiciled and listed in Europe. The sub-fund invests at least twothirds of its total assets in small caps, and at most one-third in mid caps listed in European markets. A maximum of 25% of fund assets are eligible for investment in money market instruments, along with a maximum of 10% in convertible and standard bonds. Within the limit of 200% of the Sub-Fund’s net assets, the investment strategy may be achieved by direct investments and/or through derivatives. Derivatives may also be used for hedging purposes.
Before you invest in AXA WF Framlington Europe Small Cap, 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 Framlington Europe Small Cap 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.
Fund launch date: 09/03/2001
Class Launch date: 09/03/2001
Reference currency: The reference currency is the Euro.
For an investor :
- An investment focused on the growth of European small and mid caps.
- An investment that offer the potential to enhance returns and diversify portfolios.
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.
- 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.
No guarantee is provided as to the recovery of your initial investment.
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 Framlington Europe Small Cap 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 : 2.01%.
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 4000 EUR)
- 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 25% of assets in debt securities: yes
- Sub-fund actually more than 25% invested in debt securities: no
- Withholding tax (30 % depending on the investor’s particular tax situation): not 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 25% 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.
Identity of de financial agent
Financial Service Belgium : AXA Bank Europe S.A., boulevard du Souverain 25, 1170 Bruxelles.
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.ombudsfin.be).