BNP Paribas L1 World Commodities Classic Cap (USD)
Last NAV
(Last Update : 2019/12/20)
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Fund House BNP Paribas Investment Partners - BNP Paribas L1 Funds
Fund Type Commodity Funds
Fund Size
Sector Commodity Futures
Geographic Allocation Global
Fund Investment Objective & Strategy
This sub-fund actively invests primarily in derivative financial instruments on the Dow Jones-UBS Commodity Gross Return index and/or to any index representing commodities, combining all sectors, that comply/ies with the recommendations of European Directive 2007/16/CEE. The exposure to indices representing the overall trend of prices for commodities of any kind via derivative financial instruments only may vary between 0% and 100% of the sub-fund's net assets. It may invest up to 1/3 of its assets in any other transferable securities, derivative or cash, and up to 10% in other UCITS.
Key Risks
Derivative Risk : When investing in over the counter or listed derivatives, the subfund aims to hedge and/or to leverage the yield of its position. The attention of the investor is drawn to the fact that leverage increases the volatility of the subfund. The use of derivatives involves material additional risks, such as counterparty risk, volatility risk, liquidity risk, leveraging risk and valuation risk. This may expose the subfund to significant losses. Counterparty Risk : This risk is associated with the ability of a counterparty in a financial transaction to fulfil its commitments like payment, delivery and reimbursement. Risk of Investing in China :Investing in China involves risks linked to restrictions imposed on foreign investors and counterparties, higher market volatility and the risk of lack of liquidity. In addition, there are greater political, tax, economic, foreign exchange, regulatory, accounting and reporting risks. Single Sector Risk : The subfund’s investments are concentrated in the commodity sectors. This may result in greater volatility than funds which comprise broad-based investments. Commodity Market Risk : Commodity markets may experience significant, sudden price variations that have a direct effect on the valuation of shares and securities that equate to the shares in which the subfund may invest and/or that the subfund may be exposed to. Liquidity Risk : This risk arises from the difficulty of selling an asset at a fair market price and at a desired time due to lack of buyers. Currency Risk : The subfund may hold assets denominated in currencies that differ from its reference currency, and may be affected by exchange rate fluctuations between the reference currency and the other currencies and by changes in exchange rate controls. When the manager is willing to hedge the currency exchange risk of a transaction, there is no guarantee that such operation will be completely effective. Investment Risk : When investing in a fund, there is a risk that the final outcome may deviate from the initial expectations. The subfund’s investment portfolio may fall in value and therefore may suffer losses. In addition, there is no guarantee of principal repayment.
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