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Détail d'un fonds

Funds Detail

BL Bond Euro

Bond fund

Data as of 24/02/2021

Risk level

Recommended investment horizon : > 2 years


Average annual performance since launch 3,91 %

Performance as at 24/02/2021

2018-0,54 %
20190,57 %
2020-0,18 %
Since 01/01/2021-0,64 %
Over the last 12 months-2,42 %
Over 3 years0,13 %
Since launch217,72 %


Investment objective and policy

The fund invests mainly in fixed income, variable income and convertible bonds denominated in euro or issued by top-quality issuers in the euro zone. Its key objective is to achieve a regular income.

Management report - 4th Quarter 2020

The fourth quarter of 2020 was very eventful and saw yields on euro sovereign issuers stabilise and corporate debt spreads narrow. The average yield spread of our BLI Corporate reference basket - which represents a universe of corporate issuers eligible to this fund - compared to euro risk-free rates, narrowed by 29 basis points to post a yield of 0.23% at the end of December 2020. Anticipations of an end to the crisis with the announcement of two vaccines that are more than 90% effective at the beginning of November and the start of the vaccination campaign in mid-December have significantly reduced the perception of risk on riskier bonds despite the ever-increasing damage caused by the pandemic. In addition, the European Central Bank announced an increase in the asset purchase envelope of Euro 500 billion and a six-month extension of the Pandemic Emergency Purchase Programme. This allowed nominal sovereign yields to stabilise despite expectations that inflation would rise. Private debt outperformed sovereign debt thanks to a combination of narrowing yield spreads on riskier bonds and a higher nominal yield than public debt. Emerging markets were also significant beneficiaries of the reflationary context and saw the arrival of large cash flows seeking to take advantage of the optimism for riskier assets. Due to the portfolio's defensive and low-risk positioning, it did not grow over the last quarter and its composition remained unchanged. The portfolio's average rating remains AA with 83% of the assets invested in green bonds and 13% in German and Dutch sovereign bonds. The portfolio's positive-impact orientation contributes to 9 of the 17 United Nations Sustainable Development Goals (SDGs), with an emphasis on SDGs 7 and 13 (more than 65% of the portfolio) which promote climate action. At 31 December 2020, the average yield of the portfolio was -0.38% with a modified duration of 4.48. The portfolio's value was unchanged in the fourth quarter.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (24/02/2021)1 087,68 EUR
NAV class A distribution shares (24/02/2021)216,40 EUR
Latest dividend7,68 EUR
Date of last dividend payment  07/02/2020
CODESISIN capitalisation code : LU0093570769
ISIN distribution code : LU0093570686
WKN capitalisation code : 989647
WKN distribution code : 937800
SICOVAM capitalisation code : 959301
SICOVAM distribution code : 959300
Net assets (million)35,68 EUR
Launch date16/09/1988

Asset Publisher

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