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.
Pages to are hidden for
"Crystal Reports ActiveX Designer BNPI Funds EN Classic"Please download to view full document