NN (L) Patrimonial Defensive
Active management for defensive investors
NN (L) Patrimonial Defensive, a sub-fund of the SICAV/BEVEK investment fund under Luxembourg law NN (L) Patrimonial, is a fund of funds and invests primarily in a diversified international portfolio of equity and fixed income funds (funds that invest in either stocks or fixed income instruments). Also other financial instruments can be used to achieve the investment objectives. The fund is actively managed against an investment profile of 75% bonds denominated in Euro (benchmark Barclays Euro Aggregate) and 25% global stocks (benchmark MSCI World Net).
Before you invest in NN (L) Patrimonial Defensive, 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 NN (L) Patrimonial Defensive is not an ING fund.
Historical records – Actuarial Yield - Capitalization share
|Valid on 30/09/2015||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 (%)|
|LU0119196938||NN Investment Partners||NN (L) Patrimonial Defensive||Mixed||4||591,33||Euro||3,02||5,99||5,37||3,19||4,29||1994/07/25||0,39||https://www.ing.be/en/retail/investments/investment-funds/NN-L-Patrimonial-Defensive||0|
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 15th of July 1994
Class Launch date : the 15th of July 1994
Reference currency : The reference currency is the Euro.
For an investor (seeking for ):
- A solution that can take advantage from changing market conditions in a flexible manner.
- An approach guaranteeing a well-diversified portfolio aimed at stable long-term capital growth.
The main risks for the Sub-Fund are :
- Market risk : The overall market risk, taking into account past performances and future potential evolution of the markets, associated with financial instruments used to reach the investment objective is considered medium. Financial instruments may be impacted by various factors. These include, but are not limited to, the development of the financial market, the economic development of issuers who are themselves affected by the general world economic situation and the economic and political conditions prevailing in each country.
- Credit risk : Expected credit risk, the risk of failure of the issuers of underlying investments is medium.
- Currency risk: Currency fluctuation may impact on the fund's performance.
- 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.
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 NN (L) Patrimonial Defensive 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 : 1.56% of which 1.20% of management fees.
Custody fee : 0%/ annum
For other costs 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 : 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 : yes
- 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 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 : ING Belgium S.A., 24, avenue Marnix/Marnixlaan, 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 (www.ombfin.be).