FORMALIZACIÓN DE LA TEORÍA GENERAL DE SISTEMAS
5.3 Hipótesis de la T.G.S
5.3.2 La propuesta de O Lange
CONVERTIBLE BOND WORLD
Investment objective
Increase the value of its assets over the medium term Investment policy
This sub-fund invests at least 2/3 of its assets in convertible or similar bonds whose underlying shares are issued by companies and in financial derivative instruments on this type of asset.
The manager will seek to achieve a balance between the debt character of convertible bonds and their dependence on their respective underlying shares. In this respect, the sub-fund will take advantage of bond yields and will also be sensitive to the performance of the underlying shares.
The remaining portion, namely a maximum of 1/3 of its assets, may be invested in any other transferable securities, money market instruments, financial derivative instruments or cash, and up to 10% of its assets may be invested in UCITS or UCI. After hedging, the sub-fund’s exposure to currencies other than EUR may not exceed 25%.
The sub-fund may use financial derivative instruments for both hedging and investment purposes.
The sub-fund’s overall exposure (via both direct and indirect investments) to mainland China equity and debt securities will not exceed 30% of its assets.
Risk profile
Specific sub-fund risks: Counterparty Risk Operational & Custody Risk Derivatives Risk Emerging Markets Risk
Risk related to investments in some countries Risks related to investments in CNH share categories
Risk related to investments in Chinese securities subject to QFII
For an overview of generic risks, please refer to the Appendix 3 of Book I of the Prospectus. Historical performance
Past performances for each share class are contained in the KIID. Investor type profile
The shares of the sub-fund can be subscribed in by eligible investors who want to invest in available shares in accordance with the investment objective of the sub-fund.
Share Categories
Category Class ISIN code Registered Bearer Dividend Investors Minimum holding (1)
Classic CAP LU0823394852 Yes Yes No All None Classic DIS LU0823394936 Yes Yes Annual All None Classic MD DIS LU1022396011 Yes Yes Monthly All None
Classic CHF CAP LU0823394340 Yes Yes No All None Classic USD CAP LU0823394779 Yes Yes No All None Classic RH AUD MD DIS LU0950369701 Yes Yes Monthly All None Classic RH CHF CAP LU0950369883 Yes Yes No All None Classic RH CNH CAP LU0950369966 Yes Yes No All None Classic RH CZK CAP LU0823394423 Yes Yes No All None Classic RH PLN DIS LU0823394696 Yes Yes Annual All None Classic RH USD CAP LU1022396284 Yes Yes No All None Classic RH USD DIS LU1022396367 Yes Yes Annual All None
N CAP LU0823395586 Yes Yes No All None Privilege CAP LU0823395669 Yes Yes No All
Equivalent of EUR 1 million per sub-fund Managers: none Privilege DIS LU0823395743 Yes Yes Annual All
Equivalent of EUR 1 million per sub-fund Managers: none Privilege RH CHF CAP LU1022396797 Yes Yes No All
Equivalent of EUR 1 million per sub-fund Managers: none I CAP LU0823395230 Yes Yes (1) No Institutional
Investors
Equivalent of EUR 3 million per sub-fund or EUR 10 million
PARVEST CONVERTIBLE BOND WORLD
Category Class ISIN code Registered Bearer Dividend Investors Minimum holding (1)
and UCIs
in the Company. UCI: none
I DIS LU0950370030 Yes Yes (1) Annual
Institutional Investors
and UCIs
Equivalent of EUR 3 million per sub-fund or EUR 10 million
in the Company. UCI: none
I RH CHF CAP LU1022396870 Yes Yes (1) No
Institutional Investors
and UCIs
Equivalent of EUR 3 million per sub-fund or EUR 10 million
in the Company. UCI: none
I RH NOK CAP LU0823395313 Yes Yes (1) No
Institutional Investors
and UCIs
Equivalent of EUR 3 million per sub-fund or EUR 10 million
in the Company. UCI: none
I RH USD CAP LU0823395404 Yes Yes (1) No
Institutional Investors
and UCIs
Equivalent of EUR 3 million per sub-fund or EUR 10 million
in the Company. UCI: none X CAP LU0823395826 Yes No No Authorized
Investors None
(1) At the discretion of the Board of Directors.
Fees and Costs
Annual fees and costs payable by the sub-fund
Category Management fee
(maximum) Performance fee Distribution fee (maximum) Other fees (maximum) Taxe d’abonnement (1) Classic 1.20% No none 0.35% 0.05% Classic MD 1.20% No none 0.35% 0.05% Classic CHF 1.20% No none 0.35% 0.05% Classic USD 1.20% No none 0.35% 0.05% Classic RH AUD MD 1.20% No none 0.35% 0.05% Classic RH CHF 1.20% No none 0.35% 0.05% Classic RH CNH 1.20% No none 0.35% 0.05% Classic RH CZK 1.20% No none 0.35% 0.05% Classic RH PLN 1.20% No none 0.35% 0.05% Classic RH USD 1.20% No none 0.35% 0.05%
N 1.20% No 0.60% 0.35% 0.05% Privilege 0.65% No none 0.35% 0.05% Privilege RH CHF 0.65% No none 0.35% 0.05% I 0.60% No none 0.20% 0.01% I RH CHF 0.60% No none 0.20% 0.01% I RH NOK 0.60% No none 0.20% 0.01% I RH USD 0.60% No none 0.20% 0.01% X none No none 0.20% 0.01%
(1) In addition, the Company may be subject to foreign UCI’s tax, and/or other regulators levy, in the country where the sub- fund is registered for distribution.
Fees and costs payable by investors to placing agents
Category Subscription Fee
(maximum) Conversion Fee (maximum) (1) Redemption Fee (maximum) Classic 5% 2% none Classic MD 5% 2% none Classic CHF 5% 2% none Classic USD 5% 2% none Classic RH AUD MD 5% 2% none Classic RH CHF 5% 2% none Classic RH CNH 5% 2% none
PARVEST CONVERTIBLE BOND WORLD
Category Subscription Fee
(maximum) Conversion Fee (maximum) (1) Redemption Fee (maximum) Classic RH CZK 5% 2% none Classic RH PLN 5% 2% none Classic RH USD 5% 2% none
N none 2% 5% Privilege 5% 2% none Privilege RH CHF 5% 2% none I 5% 2% none I RH CHF 5% 2% none I RH NOK 5% 2% none I RH USD 5% 2% none X 5% 2% none
(1) in the event of conversion to a sub-fund with a higher subscription fee, the difference may be payable
Additional information
Accounting and reference currency: EUR for the sub-fund
AUD for the "Classic RH AUD MD" category
CHF for the "Classic CHF", "Classic RH CHF", "Privilege RH CHF" and “I RH CHF” categories CNH for the "Classic RH CNH" category
CZK for the "Classic RH CZK" category NOK for the "I RH NOK" category PLN for the "Classic RH PLN" category
USD for the "Classic USD", "Classic RH USD" and "I RH USD" categories Currency of valuation:
“Classic-CAP”, “Classic MD”, "N", "Privilege", "I", "X": EUR "Classic-DIS": EUR, USD
"Classic RH AUD MD": AUD
"Classic CHF", "Classic RH CHF", "Privilege RH CHF", “I RH CHF”: CHF "Classic RH CNH": CNH
"Classic RH CZK": CZK "I RH NOK": NOK "Classic RH PLN": PLN
"Classic USD","Classic RH USD", "I RH USD": USD
For each day of the week on which banks are open for business in Luxembourg (a ”Valuation Day”), there is a corresponding NAV which is dated the same day unless 50% or more of the underlying assets cannot be valued.
It is available at the Company’s registered office, from local agents, and in any newspapers designated by the Board of Directors and the web site www.bnpparibas-ip.com.
Terms of subscription / conversion / redemption:
Subscription, redemption and conversion orders will be processed at an unknown net asset value in accordance with the rules set out below, only on trading days in Luxembourg, and the time mentioned is Luxembourg time.
Centralisation of orders Orders Trade Date NAV calculation and
publication date Orders Settlement Date
16:00 CET for STP orders, 12:00 CET for non STP orders
on the Valuation Day (D)
Valuation Day (D)
Day after the Valuation Day (D+1)
Maximum three bank business days after the Valuation Day (D+3) (1)
(1) If the settlement day is a currency holiday, the settlement will occur the following business day.
Listing: none
Launch date:
The sub-fund was launched in the "Classic-CAP" class on 8 September 2004 in the sicav FORTIS L FUND (renamed BNP Paribas L1 on 1 August 2010) with the name "Bond Convertible World".
The "I-CAP" class was launched on 15 January 2005.
The "N" category was launched on 16 January 2006 with the name "P".
The "Classic RH PLN" category was launched on 1 April 2007 with the name "Classic H PLN". The "I RH USD" category was launched on 19 June 2009 with the name "IH USD".
The "Classic RH CZK" category was launched on 16 September 2010 with the name "Classic H CZK". The "I RH NOK" category was launched on 22 November 2010 with the name "IH NOK".
PARVEST CONVERTIBLE BOND WORLD
The "Classic USD" category was launched on 13 December 2010.The "X" category was launched on 15 June 2011.
The “Classic-DIS” class was launched on 21 May 2013 by absorption of the “Classic USD-DIS” class. The "Classic RH CHF" and “I-DIS” classes were launched on 10 December 2013.
The "Privilege" category was launched on 21 May 2013.
The “Classic MD” classes will be launched at EUR 100.00 per share at a date to be defined by the Board of Directors. Investors should check their launch date before subscribing.
The “Classic RH AUD MD” category will be launched at AUD 100.00 per share at a date to be defined by the Board of Directors. Investors should check its launch date before subscribing.
The “Classic CHF”, “Privilege RH CHF” and “I RH CHF” categories will be launched at CHF 100.00 per share at a date to be defined by the Board of Directors. Investors should check their launch date before subscribing.
The “Classic RH CNH” category will be launched at CNH 100.00 per share at a date to be defined by the Board of Directors. Investors should check its launch date before subscribing.
The “Classic RH USD” category will be launched at USD 100.00 per share at a date to be defined by the Board of Directors. Investors should check its launch date before subscribing.
Historical information:
Current name first applied on 1 August 2010 "P" category renamed "N" on 1 September 2010 Transfer in the Company on 21 May 2013.
"Classic H CZK", "Classic H PLN", "IH NOK" and "IH USD" category renamed "Classic RH CZK", "Classic RH PLN", "I RH NOK" and "I RH USD" on 1 May 2014
Shares of the “Classic H CZK-CAP” class split by 100 on 6 June 2014 Taxation:
Potential shareholders are recommended to seek full information in their country of origin, place of residence or domicile on the possible tax consequences associated with their investment.