AXA WF Global High Yield Bonds
Increase the potential return of your bond portfolio
AXA WF Global High Yield Bonds, a sub-fund of the SICAV/BEVEK investment fund under Luxembourg law AXA World Funds aims firstly to seek high income and secondary capital growth by investing in a broadly international high yield corporate debt securities over a long term period. The Sub-Fund is actively managed in order to capture opportunities in international high yield corporate debt.
Before you invest in AXA WF Global High Yield Bonds, 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 Global High Yield Bonds 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: the 12th of March 2001
Class Launch date: 2004
Reference currency: The reference currency is the American Dollar. The yield in euro could be positively or negatively influenced by change fluctuations.
For an investor seeking for:
- A diversification of their bond portfolio by investing in high-yield bonds.
- a higher potential return.
- An investment horizon of at least seven 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.
- 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.
- Operational Risk: risk that operational processes, including those related to the safekeeping of assets may fail, resulting in losses.
- 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 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.
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 Global High Yield Bonds 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 : 1.39% of which 1.25 % 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%
- 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 : 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%.
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 N.V., Vorstlaan 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.ombfin.be).
Are you interested ?
Make an appointment now at the ING branch of your choice.
For more information, read the following documents:
- Product sheet (PDF)
- Technical sheet (PDF)
- Key Investor Info Document (PDF)
- Annual report (PDF)
- Semi-annual report (PDF)
- Prospectus (full version) (PDF)
Are you interested ?
Make an appointment now at ING branch of your choice.