What is the fund objective?
The BNP Paribas Plan Target Click Funds is an open-end umbrella structure with 31 protected value funds with maturities ranging from 2005 up to 2035. Each fund offers at maturity a protected (guaranteed) value per share through investments in deposits and swaps.
The other part of the investments consists of equity derivatives. At the end of each month the NAV per share of each fund is compared with the protected value at that moment and if positive the protected value will be increased.
To find out more please see the prospectus.
What is the fund’s investment approach?
Target Click Funds (TCFs) are guaranteed lifecycle funds that provide a risk-averse route for investors to meet a host of future financial commitments - such as retirement and pre-retirement funding, school or university fees and any other lifecycle events - with a range of funds which give exposure to diversified global equity markets with the security of a capital guarantee that is fully backed by Fortis Bank S.A./N.V.
They invest in a mix of cash, fixed income securities and a leveraged equity component -which itself invests in internationally diversified, equity index derivatives. The allocation to these components is automatically adjusted over time where the equity participation is higher when the time to maturity is longer. TCFs offer a guaranteed value at maturity that can rise over time when capital gains are locked in via a 'click' that occurs whenever the daily price rises above the existing guaranteed value.
TCFs help consumers meet their financial planning needs with a simple, single investment package that offers:
- Freedom of choice: a range of funds to select from, which pay out up to almost 50 years in the future to match any life event investors may wish to invest for.
- Opportunity and security: if kept to maturity investors will have the opportunity for equity returns without loss and they can be certain that locked-in gains can never be lost.
- Flexibility: if personal circumstances change before the fund's maturity date investors can make changes for free of charge at any time and they can make withdrawals at the market price (not the guaranteed value) without penalty.
TCFs are suitable for any investor who wants to invest for future financial needs in a convenient way, would like to achieve capital growth with the security of a minimum guaranteed value at maturity and has experience with the risks and rewards of equity investing.
Who are the Fund Managers?
This fund has been managed by Marina Loscheva since October 2008.
Who is BNP?
BNP Paribas is a European leader in global banking and financial services and one of the six strongest banks in the World according to Standard & Poor's.
The Group currently operates in four domestic retail banking markets in France, Italy, Belgium and Luxembourg and has one of the largest international networks with operations in 84 countries and approximately 200,900 employees (as at 03/31/2010).
Costs
BNP Paribas Investment Partners allows distributors to charge up to 5.25% for this fund (as per prospectus). At RaboDirect you will only pay 0.75% entry fee and 0.75% upon exit. We never charge for unexecuted or cancelled orders or for that matter cost of account maintenance.
Warning: Past Performance is not a reliable guide to future performance. The value of your investment may go down as well as up. Some Investment Funds may be affected by changes in currency exchange rates.
* Funds frequently bought together: This is for the information of our customers, and potential customers, based on general customer investment patterns, and does not constitute advice from us that you invest in any particular fund or a recommendation from us that a particular fund is suitable for you.