KBC Equity Fund

Public open-ended investment company under Belgian law (bevek)
Havenlaan 2 – 1080 Brussels

Please refer to the press release dated 25 February 2022 and the update dated 8 March 2022 on the KBC website regarding the suspension of the net asset valuation and the execution of entry and exit applications and requests to switch sub-funds as of Friday 25 February 2022 for the Emerging Europe sub-fund of KBC Equity Fund, an open-ended investment company under Belgian law (bevek).

A precise valuation of the Russian assets in the fund remains impossible as long as the Russian stock market is closed to foreign investors. This is still the case. As long as a precise valuation remains impossible, the suspension will remain in force. This unusual action is taken in the interests of investors and this response has been broadly accepted by the market.

The war in Ukraine and the economic sanctions against Russia may significantly affect the valuation of the Russian shares in the fund. The value of these shares may therefore differ significantly from their value prior to the conflict. A potential consequence is that the next net asset value calculated after the suspension could deviate significantly from the last net asset value calculated before the suspension.

In addition to its positions in Russia, the sub-fund has holdings in several countries where, unlike Russia, the assets remain freely negotiable. The fund manager will continue to actively manage that part of the portfolio in the interest of the investor and in accordance with the sub-fund's objective and investment policy as described in the prospectus.

The prospectus, the key investor information document and the most recent financial reports are available free of charge at www.kbc.be/fundfinder and from the branches of the institution providing the financial service, namely KBC Bank NV.

KBC Equity Fund
Public Sicav under Belgian law

Avenue du Port 2 - 1080 Brussels

We wish to inform you that the determination of the net asset value as well as the execution of requests for the issue and redemption of units and/or sub-fund changes will be suspended as of Friday, February 25, 2022 until further notice for the Emerging Europe sub-fund of KBC Equity Fund (Public SICAV under Belgian law). 
Due to the tensions on the Russian financial market, more than 20% of the assets of this sub-fund cannot be traded at a normal price. In accordance with Article 196, 1° and 3° of the Royal Decree of 12 November 2012 on undertakings for collective investment that satisfy the conditions of Directive 2009/65/EC, it is decided, in the interest of the participants, to suspend the determination of the net asset value, the execution of requests for the issue and redemption of units and/or changes to sub-funds. 
The prospectus, the key investor information document and the most recent financial reports are available free of charge at www.kbc.be/fundfinder and at the counters of the institution providing the financial service, i.e. KBC Bank NV. 

• Asset test
  When units in an investment fund are sold, withholding tax (the so-called ‘Reynders tax') may be due in some cases on the capital gains realised. This overview includes an asset test showing which investment funds are subject to this levy (Belgian withholding tax).

• Key Investor Information Document (KIID)
  The Key Investor Information Document will help you understand the nature of investment funds and the risks associated with them. In this way, the document enables you to make well-informed investment decisions.

• Reorganisation of KBC’s fund offering
  It is sometimes necessary, in the investor’s interest, to merge or liquidate a sub-fund or investment fund. Find out more in this overview.
  
  
• Press releasesHere, you can consult the press releases on prospectus updates (only available in French), the involved sub-funds and the period during which a cost-free redemption of parts, taxes exempt, is possible.

• Where are the assets in which your investment fund invests?
  A custodian literally takes custody of the assets in which your investment fund invests. They also perform a number of checks. Read here about who has assumed this important task for your investment fund.
  
  
• Investment risk and return: a long-term framework
  Past performance is no guarantee for the future… but what will the future bring?
  

• Execution Quality Report – KBC Asset Management NV (2019: pdf, csv; 2020: pdf, csv; 2021: pdf, csv)
  The Execution Quality Report describes for each class of financial instruments the top five execution venues and information on the quality of execution obtained.
  In scope of the report are orders executed for professional and retail mandates managed by KBC Asset Management NV.

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For each investment product, consult information such as the investment policy, risks and key data - and documents such as the prospectus and the Key Investors Information document (KIID).

• General Terms and Conditions
  The General Terms and Conditions govern the relationship between KBC Asset Management and its clients. If you require an earlier version, please contact your dedicated relationship manager.
  
• Privacy Statement
  Your privacy is very important to us. Our aim is to process your personal data in a manner that is lawful, appropriate and transparent. In this privacy statement, we explain which of your personal details we collect from you as a natural person and then process.
• Summary of the rights of investors and potential investors
• Investment instruments: strengths and weaknesses
  KBC offers a variety of investment instruments, each with its own features, strengths and weaknesses. You will find all of them in this brochure, which you can use to make the right choice in consultation with your financial adviser.
• Best Execution & Client Order Handeling Policy
  KBC Asset Management takes all reasonable measures to achieve the best possible result when orders are executed and processes these orders promptly and accurately. Read the details of this execution and processing here.
• Code of conduct for conflicts of interest
  Conflicts of interest can exist or arise within management companies. KBC Asset Management therefore has a code of conduct for conflicts of interest in order to detect, solve and monitor any such conflicts. It ensures that we operate fairly in line with the client’s interests.
• Fraud policy
  Combating fraud is a priority for KBC Asset Management. Here you can read more about the measures we take to prevent and reduce the risk of fraud and malpractice.
• Procedure for the protection of whistle-blowers
  KBC Asset Management staff are obliged to report any suspicion of fraud or other serious malpractices. This procedure enables them to do so without fear of reprisal.
• Remuneration policy
  This report provides you with more information on how entities in the KBC Asset Management group organise their remuneration policy.
• Retrospect Proxy Voting - overview
  This document gives you more information about how the engagement policy of KBC Asset Management was implemented last year.
• Retrospect Proxy Voting - voting instructions
  This document gives you an overview of all shareholders' meetings in which KBC Asset Management participated. It shows how KBC Asset Management voted in favor of the proposed resolutions.
• General exclusion policy for conventional and Responsible Investing funds
  This document gives you an overview of the exclusion policy applicable to all investment funds of KBC Asset Management.
• Exclusion policies for responsible investment funds
  This document gives you an overview of the exclusion policy applicable to all resposible investment funds of KBC Asset Management.
• Investment policy for Responsible Investing funds
• Sustainable finance disclosure
  Systematic and transparent information within the framework of the European Sustainability Related Financial Disclosure Regulation (SFDR).
• Information on compliance with the Taxonomy Regulation
  This document provides information on how Luxembourg AIFs managed by KBC Asset Management S.A. comply with article 7 of the EU Taxonomy Regulation.
  
• Product-related disclosures under the SFDR and EU Taxonomy Regulation for discretionary mandates portfolios managed by KBC Asset Management NV.

• General legal declaration of KBC Bank NV, KBC Insurance NV en KBC Asset Management NV
• General privacy statements of KBC Bank NV, KBC Insurance NV en KBC Asset Management NV

• Read these important General guidelines for share recommendations
• More information on the valuation rules and sensitivity analysis (Dutch)  (French)
  
• Changed recommendations in the past 12 months
• Our jargon buster:
  • Buy: the analyst expects the price of the share to rise by at least 10% over the next six months.
  • Increase: the analyst expects the price of the share to rise by up to 15% over the next six months.
  • Hold: the analyst expects the price of the share to increase or decrease by up to 5% over the next six months.
  • Decrease: the analyst expects the price of the share to fall by up to 15% over the next six months.
  • Sell: the analyst expects the price of the share to fall by at least 10% over the next six months.

KBC Asset Management Group PAI statement on entity level