Crystal Reports ActiveX Designer BNPI Funds EN Classic by liaoqinmei

VIEWS: 3 PAGES: 2

									                                                                                                                                                                                                June 2010




          FORTIS L FUND
          OBAM Equity World - Classic
                                                                                                                                                                  E QU I T I E S


          INVESTMENT STRATEGY                                                                                                                                             FUND MANAGER
This compartment invests primarily in international equities. It may, as opportunity presents and on                                                                      ROLF STOUT
an ancillary basis, invest in other financial instruments. The portfolio has 2 parts: a strategic portfolio
and a tactical portfolio. The first follows a 'growth at a reasonable price' approach and generally
invests in large-cap securities, of global market leaders. Its investment horizon is long term. The
second follows a thematic approach and generally invests in small and medium capitalisation
securities. Its investment horizon is medium term. Positions in liquid instruments may be taken as
opportunity presents and the manager may utilise derivative products for exposure to a market or to
hedge underlying equity positions.                                                                                                                 RISK CLASS
                                                                                                                                                   ADVISED HORIZON
                                                                                                                                                   10 years
                                                                                                                                                   INVESTOR PROFILE
                                                                                                                                                   Conservative • Defensive • Neutral • Dynamic •
                                                                                                                                                   AGGRESSIVE•


                                                                                                                                                   KEY FIGURES - EUR
          MANAGER'S REPORT                                                                                                                                                   Capitalisation     Distribution
Equity Markets fell in the second quarter of 2010. The MSCI World index lost -3.33%, with Financials
                                                                                                                                                   NAV (30/06/2010)                  108.82           94.29
and Energy stocks falling the most. The defensive sectors posted slightly positive returns. Fortis L Fund                                          Highest NAV (12 months)           131.44          113.90
OBAM Equity World underperformed the benchmark strongly and fell with -10.8% (GOF)/11.2% (NOF)                                                     Lowest NAV (12 months)             88.78           78.80
over the quarter. The return of the portfolio over the second quarter was driven by strongly negative                                              Number of shares (mln)          3,058.47        1,430.81
contribution from a partial currency hedge on the USD and the JPY (-4.84% total contribution to return)                                            Last Dividend Payment Date                   20/01/2010
                                                                                                                                                   Dividend (gross)                                    2.55
but the portfolio also lost through its stock picks within the Financials and Energy sector. While the US
financial sector suffered from fears for tighter regulations, deep sea drilling related stocks                                                     Assets under management (mln) in EUR 784.47 on
underperformed due to the Golf of Mexico Oil Spill. All defensive sectors within the portfolio posted                                              30/06/2010

positive returns. Our stock picks in Indonesia contributed to the total return, while the selection effect                                         FUND FEATURES
in the US had the strongest negative contribution.                                                                                                 1st NAV date                                 March 2004
                                                                                                                                                   Management fee                        Management1.50%
                                                                                                                                                   Subscription Fee                       Subscription5.00%
                                                                                                                                                   Redemption Fee                         Redemption0.00%
                                                                                                                                                   Administrator                    Fastnet Luxembourg S.A.
                                                                                                                                                   Custodian                          Bnp Paribas Securities
                                                                                                                                                                                                    Services
                                                                                                                                                   Management Company                Bnp Paribas Investment
                                                                                                                                                                                                    Partners
          PERFORMANCE IN EUR (30/06/2010)                                                                                                          Registered for sale in Belgium, France, the Netherlands,
For the period (%)                            1 month 3 months                   YTD         1 year       3 years           5 years                Switzerland, Germany, Italy, Sweden, Norway, Denmark,
Portfolio                                       - 5.23   -14.71                - 7.02         14.56        -44.37             - 3.07               Portugal, Austria, Spain, Luxembourg, Greece, Ireland,
                                                                                                                                                   Finland, Poland, Czech Republic, Taiwan, Hong Kong,
Benchmark                                       - 2.82    - 3.53                 5.61         26.19        -23.48             - 0.87
                                                                                                                                                   Lichtenstein, Singapore, Macao
Annualised (%)                                1 month 3 months                  YTD          1 year       3 years           5 years
Portfolio                                           -        -                    -           14.56        -17.75             - 0.62
Benchmark                                           -        -                    -           26.19         - 8.53            - 0.18
                                                                                                                                                   CODES
Yearly (%)                                         2009                2008     2007         2006            2005
                                                                                                                                                                            Capitalisation      Distribution
Portfolio                                          62.95              -65.40   29.87         17.26           39.00
                                                                                                                                                   Calculated                      Daily              Daily
Benchmark                                          25.94              -37.64   - 1.66         7.40           26.17
                                                                                                                                                   ISIN                    LU0185157681       LU0185157764
                FORTIS L FUND OBAM Equity World
                                                                                                                                                   WKN                           A0B94X             A0B94Y
                                                                                                                                    basis: 100
                Benchmark: MSCI World Net Return Index                                                                                             Valoren code                 1777972            1777960
 220.00
                                                                                                                                                   Bloomberg                   FOROBWC            FOROBWD
 200.00
                                                                                                                                                   S&P                           502773             502774

 180.00

                                                                                                                                                   RISK INDICATORS (36 MONTHS)
 160.00
                                                                                                                                                   Volatility Fund                                  34.28%
 140.00                                                                                                                                            Volatility Benchmark                             18.33%
                                                                                                                                                   Tracking Error                                   20.48%
 120.00
                                                                                                                                                   Risk Free Rate                                     2.54%
 100.00                                                                                                                                            Information Ratio                                  - 0.45
                                                                                                                                                   Jensen's Alpha                                   - 2.29%
  80.00
                                                                                                                                                   Sharpe Ratio                                       - 0.59
  60.00                                                                                                                                            Beta                                                 1.63
     30/06/05                   30/06/06                   30/06/07               30/06/08                30/06/09                      30/06/10

                                                                                                      Source: BNP Paribas Investment Partners
                                                                                                                                 (net of fees)
                                                                                                                                                                                                                                                      June 2010




         FORTIS L FUND
         OBAM Equity World - Classic
                                                                                                                                                                                                            E QU I T I E S


         SECTOR BREAKDOWN (%)                                                                                                                                                        RATING
                                                                                      25.87              Financial
                                                                                      19.01              Energy
                                                                                      14.19              Industrial
                                                                                      12.14              Materials
                                                                                       8.53              IT
                                                                                       8.20              Consumer Staples
                                                                                       5.84              Health Care
                                                                                       3.38              Consumer Discretionary
                                                                                       2.65              Utilities
                                                                                                                                                                                     MAIN HOLDINGS (%)
                                                                                       0.19              Telecom Services                                                            Ing • Divers. Financials                                                     4.89
                                                                                                                                                                                     Wells Fargo • Commercial Banks                                               4.65
                                                                                                                                                                                     Abb • Electrical Equipment                                                   3.06
         REGIONAL BREAKDOWN (%)                                                                                                                                                      Cia Vale Do Rio Doce Adr • Metals & Mining                                   3.01
                                                                                                                                                                                     Perusahaan Gas Negara B-Shs • Gas Utilities                                  2.57
                                                                                      38.42              North America                                                               Jpmorgan Chase • Divers. Financials                                          2.52
                                                                                      28.09              Emerging Countries                                                          General Electric • Indust Conglomerates                                      2.46
                                                                                      19.44              Euro                                                                        Bnp Paribas • Commercial Banks                                               2.26
                                                                                       9.09              Japan                                                                       Freeport Mcmoran • Metals & Mining                                           1.98
                                                                                       4.95              Europe Ex Euro                                                              Bank Of America • Divers. Financials                                         1.96



                                                                                                                                                                                     MAJOR PURCHASES (%)
                                                                                                                                                                                     Tyco International                                                           0.70
     0       5     10       15    20      25     30      35     40
                                                                                                                                                                                     Texas Instruments                                                            0.67
                                                                                                                                                                                     Pride                                                                        0.47
                                                                                                                                                                                     Gome Electrical                                                              0.31
                                                                                                                                                                                     Softbank                                                                     0.19



                                                                                                                                                                                     MAJOR SALES (%)
                                                                                                                                                                                     Deere                                                                        1.01
                                                                                                                                                                                     Mylan Laboratories                                                           0.98
                                                                                                                                                                                     Secom                                                                        0.92
                                                                                                                                                                                     Yanzhou Coal Mining H                                                        0.83
                                                                                                                                                                                     Teck Resources                                                               0.79
Source: BNP Paribas Investment Partners




This document is issued and has been prepared by BNP Paribas Asset Management (BNPP AM)* a member of BNP Paribas Investment Partners (BNPP IP)**.

This document is produced for information purposes only and does not constitute:

1. an offer to buy nor a solicitation to sell, nor shall it form the basis of or be relied upon in connection with any contract or commitment whatsoever or;

2. any investment advice.

This document makes reference to certain financial instruments (the “Financial Instrument(s)”) authorized and regulated in its/their jurisdiction(s) of incorporation.

No action has been taken which would permit the public offering of the Financial Instrument(s) in any other jurisdiction, except as indicated in the most recent prospectus, offering document or any other information material, as applicable, of the
relevant Financial Instrument(s) where such action would be required, in particular, in the United States, to US persons (as such term is defined in Regulation S of the United States Securities Act of 1933). Prior to any subscription in a country in which
such Financial Instrument(s) is/are registered, investors should verify any legal constraints or restrictions there may be in connection with the subscription, purchase, possession or sale of the Financial Instrument(s).

Investors considering subscribing for the Financial Instrument(s) should read carefully the most recent prospectus, offering document or other information material and consult the Financial Instrument(s)’ most recent financial reports. The
prospectus, offering document or other information of the Financial Instrument(s) are available from your local BNPP IP correspondents, if any, or from the entities marketing the Financial Instrument(s).

Opinions included in this website constitute the judgment of BNPP AM at the time specified and may be subject to change without notice. BNPP AM is not obliged to update or alter the information or opinions contained within this website. Investors
should consult their own legal and tax advisors in respect of legal, accounting, domicile and tax advice prior to investing in the Financial Instrument(s) in order to make an independent determination of the suitability and consequences of an
investment therein, if permitted. Please note that different types of investments, if contained within this website, involve varying degrees of risk and there can be no assurance that any specific investment may either be suitable, appropriate or
profitable for a client or prospective client’s investment portfolio.

Given the economic and market risks, there can be no assurance that the Financial Instrument(s) will achieve its/their investment objectives. Returns may be affected by, amongst other things, investment strategies or objectives of the Financial
Instrument(s) and material market and economic conditions, including interest rates, market terms and general market conditions. The different strategies applied to the Financial Instruments may have a significant effect on the results portrayed in
this website. Past performance is not a guide to future performance and the value of the investments in Financial Instrument(s) may go down as well as up. Investors may not get back the amount they originally invested.

The performance data, as applicable, reflected in this website, do not take into account the commissions, costs incurred on the issue and redemption and taxes.
*BNPP AM is an investment manager registered with the “Autorité des marchés financiers” in France under number 96-02, a simplified joint stock company with a capital of 62,845,552 euros with its registered office at 1, boulevard Haussmann 75009
Paris, France, RCS Paris 319 378 832. www.bnpparibas-am.com.

** “BNP Paribas Investment Partners” is the global brand name of the BNP Paribas group’s asset management services. The individual asset management entities within BNP Paribas Investment Partners if specified herein, are specified for
information only and do not necessarily carry on business in your jurisdiction. For further information, please contact your locally licensed Investment Partner.

								
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