Sustainable and social responsible investments

Januar 2007

The KBC AM approachGeert Heuninck – Head of SRI department

geert.heuninck@kbc.be

+32 2 429 33 92

Best fund managerOpen-end funds on 1 year

Innovative Portfolio

Bausteine

Agenda

1. Introduction

2. SRI Market

3. KBC approach

4. Sustainability research

5. Our products

6. Transparency

7. Conclusions

KBC AM overview

An independent asset manager More than 50 year experience in asset managing

The largest operator in Belgium

- occupying a prominent position in Western Europe

- a dominant force in Central Europe

A leader in capital protected products (click funds, etc.)

Offices in Brussels, Dublin, Luxemburg, Prague,

Budapest and Warsaw

Representative office in New York & Shanghai

153 bln EUR assets under management (31-12-2006)

KBC Asset Management profile

Market leader in capital protected funds Market share in Belgium: 60,94% (30-06-2006)

Top 3 player in pension funds in Belgium, Ireland

and Czechia

Amongst the first European asset managers to have

launched sector & theme funds

Europartners Multi Investment Fund (EMIF): a European partnership for management and distribution

Pioneer in SRI since 1992

Definitions: Corporate Social Responsibility

SUSTAINABILITY: attention and care for the coming generations:

“Our common future”: Brundtland Commission report 1987:

"Sustainable development is development that meets the needs

of the present without compromising the ability of future

generations to meet their own needs"

SOCIAL RESPONSIBILITY: attention and care for existing

or potential inequalities within current generations, both in and

outside one’s own environment (solidarity)

Key elements

Continuous improvement

Voluntary

Triple bottom-line

Communication and transparency

2. From CSR to SRI?

Socially Responsible Investment combines traditional financial values with social, ethical, governance and environmental criteria

by including them in investment management (saving and

investing) in a

- Structural,

- Voluntary and

- Transparent Process.

Consultation with the stakeholders is an important part of this

process.

2. SRI growing interest

Total SRI (€ mln)

15 180 169 163 211 306

1016 1099 11401397

3030

99 00 01 02 03 04 05 Q1 Q2 Q3 Q4

Equity (€ mln)

15

163 14281 99 100

148208

251313

376

99 00 01 02 03 04 05 Q1 Q2 Q3 Q4

Bonds (€ mln)

0 0 0 10 23 43

683 691 693 733

2028

99 00 01 02 03 04 05 Q1 Q2 Q3 Q4

Structured products (€ mln)

0 17 27 30 31 28 34 35 32

178

459

99 00 01 02 03 04 05 Q1 Q2 Q3 Q4

KBC SRI funds

AUM in mln euro (12/06) (12/05) 1y gr

Open equity: KBC Eco World 36 49 -26%

KBC Eco Water 161 20 720%

KBC Eco Alt. Energy 123 29 324%

KBC Eco Climate Change

KBC Eco Sust. Euroland 11 11 0%

KBC IF Ethical Euro Eq. 45 24 88%

Bonds: KBC Ethical Euro Bds. 736 685 7%

KBC Renta (7) 1,000

KBC Obli Euro 285

Mixed: KBC Global Ethic. Def. 167 146 21%

Structured: KBC Sustainables (6) 427

KBC Eco Water

Tailor made* 43 33 30%

Total: 3,034 997 204%

3. KBC AM approach

SRI funds since 1992: KBC Eco Fund World (1992)

is the oldest sustainable investment fund in

Belgium

Since 2002: First financial institution in Belgium

to carry out research via own sustainable and

socially responsible investment department to screen the relative sustainable and socially

responsible character of companies and countries

for inclusion in sustainable investment funds.

to assist its clients in their choice of sustainable

investments

3. KBC AM approach sustainable investments

from ‘ethical’ to ‘sustainable’ investments

ethical investments

• boycotts, ethical motivation

• exclusion of certain

sectors

• focus on tight selection of

social and environmental

criteria

• get even with the past

(rather negative approach)

sustainable investments

• creation of shareholder

value

• best-in-class approach

• integration of economic,

social and environmental

criteria

• forward-looking

(rather positive approach)

3. KBC AM approach Concept

1. Screening: Multicriteria referring to People Planet Profit

Negative scoring on involvement with questionable practices

Independency by • data provider EIRiS (independent research institute)

• methodology approved and guaranteed by External

advisory board

• based on mathematic scoring model

2. Composition sustainable universe: Best-in-class per sector

No exclusions (except aerospace & defense and tobacco)

In house screening expertise

3. Stock picking: Independent from sustainability scores

4. Fund management: no difference with classical funds

5. Control / audit: Compliance server

Regular checks by VED (KBC Bank)

Yearly audit by Deloitte

3. KBC AM approach External advisory board

1. External Advisory Board

Independent body of experts, all academics from various Belgian and Dutch universities. Each member is a specialist in

his/her particular discipline.

Independent

• Quality assurance of the methodology and research

• Objective assessment of company and country profiles

• Credibility

2. Environmental Advisory Committee (EAC) (since early ‘90s)

Belgian environmental experts (four academics, one research

director and one consultant),

Screening of companies for the KBC Eco Fund family

Expertise on composition of

the criterion ‘environment’

3. KBC AM approach External advisory board

Composition of the External Advisory Board

• president : Jaak Stokx, honorary director of Kredietbank, president of Hefboom, fellow-worker of of the Centre of Economisc and Ethics at the University of Leuven

• Prof. Dr. Eva Brems, teaches Human Rights at the University of Gent • Prof. Dr. Hans Bruyninckx, teaches durable development at the University of

Leuven • Prof. Dr. Luc Hens, director of the department Human Ecology at the University of

Brussels and member of the federal council of durable development • Prof. Dr. Stefan Marysse, teaches International Relations in the Third World at the

University of Antwerp • Prof. Dr. ir. Eric Tollens, teaches Agricultural Economy at the University of Leuven • Prof. Dr. emeritus Henk van Luijk, business ethics at the University of Nijenrode • Prof. Dr. Mieke Van Haegendoren, teaches employee relations at the University of

Hasselt and is Vice-rector of the University Hasselt • Prof.Dr. Xavier Baeten, manager at Vlerick Leuven Ghent Management School • Prof.Dr. Kurt Devooght, teaches at Ehsal and is a worker at the

Centre of Economics and Ethics at the University of Louvain.

Global universe

regulations Strategical allocation

Fund manager composes SRI fund

4. Sustainability research in the investment process

Sustainablecompanies and

countries

Investable stocks and bonds

Sustainableuniverse

4. Sustainability research screening of countries: criteria

Equal weightedcriteria

Independent data

Yearly update

50% best – in -class

economic performance, structure and policy • technological development (WEF)

• public + company efficiency (IMD)

• macro-economic performance (OECD)

• good governance (World Bank)

• corruption perception (Transp. Intl.)

wellfare and security of the population • Human Development Index (3 items) (UN)

• health care (WHO)

• criminal record (UN)

• labor security (ILO)

equality and freedom of the population • Gini index: equality of income (UN)

• Gender Empowerment Index (UN)

• intergenerational solidarity (OECD)

• political rights and civil liberties (FH)

environment • ESI index (50% weight ) (WEF)

• ratification, international environmental treaties (UN)

• ecological footprint (WWF)

international relations • commitment to development (Center for Global Developm.)

• relative policy priorities (UN)

• ratification, international HR & labour treaties (UN)

4. Sustainability research screening of countries: results

TurkeyMexico

RomaniaKorea SGreece

United StatesBulgariaPolandCroatia

ItalyLithuania

Czech Rep.Latvia

SlovakiaEstonia

HungaryPortugal

SpainJapan

FranceBelgiumSlovenia

UKAustralia

New ZeelandGermany

CanadaIrelandAustria

LuxembourgNetherlandsSwitzerland

DenmarkFinland

SwedenNorwayIceland

4. Sustainability research screening of companies: criteria

Economic performanceCustomers/supplier relationsCommunity involvementCode of ethicsProblems with legal frameworkComposition of the boardDeontologyStakeholder engagementPolicyManagementReporting

BiodiversityPerformance

Equal opportunitiesTrade unions and employee participationJob CreationTraining

Wage structureHealth & safetyGlobal HR responsibilityHR responsibility concerning own staffSupply Chain responsibilityBribery & corruptionAlcoholTobaccoGamblingAnimal testingGenetic EngeneeringMilitary IndustryNuclear power

+

-

Economic policy

Corporate governance

+

+

+

+

Environment

Internal Social policy

Human Rights

Controversial practices

Equal weightedcriteria

Independent data

Yearly update

Continuousmonitoring

Specific weightingsubcriteria

4. Sustainability research screening of companies: selection

Global SRI universe

Researchuniverse Exclusion of:

All tobacco- and defense companies

“worst-in-class”-companies, • Score on corporate governance, environment, internal social policy

OR human rights within 10% worse in the whole universe OR Score

controversial practices < -14,5%

Admitted companies: “best-in-class”-approach, • 40 % best scoring per sector

• Oil & gas and mining: 20 % best

The External Advisory Board can decide to exclude

companies (temporarily) because of involvement

in scandals or serious violations of one

of the screening criteria.

4. Sustainability research Example

Company

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om

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ss

eth

ics

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en

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Inte

rna

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licy

Hu

ma

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hts

Qu

es

tion

ab

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rac

tice

s

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ch

no

log

ies

Stora Enso 79% 79% 88% 75% 88% 75% 71% 70%

Bayer 74% 84% 80% 92% 94% 92% 61% -10%

Nippon Steel Corp. 56% 58% 71% 65% 70% 67% 17% -2%

Du Pont de Nemours 50% 64% 80% 70% 74% 42% 56% -15%

Dyson Group 16% 20% 17% 25% 9% 8% 38% -3%

40%

60%

4. Sustainability research Global SRI Universe

Sector EUR JAP NAM PAC RoEUR ROW Total

Energy 3 2 7 3 8 2 25

Materials 16 17 16 9 22 2 82

Industrials 27 34 21 8 65 1 156

Cons. Discr. 30 27 44 7 63 171

Cons. Staples 16 14 8 4 19 61

Health Care 7 12 22 2 21 64

Financials 53 20 48 27 65 4 217

Inform. Techn. 13 33 38 2 19 1 106

Telecom 9 3 4 2 6 2 26

Utilities 15 8 5 1 13 42

Total 189 170 213 65 301 12 950

Transparency Example

DanoneSector: Food, Beverage & TobaccoCompany webpage: www.danone.frIs Danone part of the sustainable investment universe?

yes43.4% Average Food, Beverage & Tobacco80.1% Maximum Food, Beverage & Tobacco80.1% Score Danone

81%BCA

86%AA

C

A73%

BACDB

78%CA LegendC 1 Economic policyA 2 Corporate governance & Business EthicsE 3 EnvironmentA 4 Internal Social Policy

82% 5 Human RightsA Danone

no Sector averageno Sector maximum

A A: Best D: Under averageno B: Above average E: Weak

A C: Average

E

0%00000

Food, Beverage &

Tobacco

0

Code of ethicsProblems with the legal framework/deontology

Composition and working practices of management bodies

1. Economic policy

Customer/ supplier relationsCommunity involvement

2. Corporate governance & Business

Economic Performance

Stakeholder engagement3. Environment

PolicyManagement

ReportingBiodiversity

Environmental performance4. Internal social Policy

Equal opportunitiesTrade unions and employee participation

Job creation and security

TrainingWage structure and working conditions

Health and safety5. Human Rights

Global responsibility for human rightsBreaches human rights principles

Supply chain responsability

Birbery and corruption

Contacts with government authorities/areas in conflict

Breaches ILO conventions in supply chain

Breaches ILO conventions

If a company is involved in one of the eight

AlcoholGambling

Tobacco

questionable practices, than this company is given a negative score depending on the grade of involvement. The grade of involvement is determined by codes. The codes were drawn up by the External advisory board.

Involvement in questionable

Animal Testing

Military industryGenetic Engeneering

Nuclear power

0%

20%

40%

60%

80%

100%1

2

34

5

Pernod-RicardSector: Food, Beverage & TobaccoCompany webpage: www.pernod-ricard.frIs Pernod-Ricard part of the sustainable investment universe?

no43.4% Average Food, Beverage & Tobacco80.1% Maximum Food, Beverage & Tobacco43.4% Score Pernod-Ricard

54%

CCC

40%

CA

C

E28%

BBCED

64%

CA LegendC 1 Economic policyC 2 Corporate governance & Business EthicsE 3 EnvironmentA 4 Internal Social Policy

46% 5 Human RightsB Pernod-Ricard

no Sector averageno Sector maximum

D A: Best D: Under averageno B: Above average E: Weak

E C: Average

C

-3%

00030

Food, Beverage &

Tobacco

0

Code of ethicsProblems with the legal framework/deontology

Composition and working practices of management bodies

1. Economic policy

Customer/ supplier relationsCommunity involvement

2. Corporate governance & Business

Economic Performance

Stakeholder engagement3. Environment

PolicyManagement

ReportingBiodiversity

Environmental performance4. Internal social Policy

Equal opportunitiesTrade unions and employee participation

Job creation and security

TrainingWage structure and working conditions

Health and safety5. Human Rights

Global responsibility for human rightsBreaches human rights principles

Supply chain responsability

Birbery and corruption

Contacts with government authorities/areas in conflict

Breaches ILO conventions in supply chain

Breaches ILO conventions

If a company is involved in one of the eight

AlcoholGambling

Tobacco

questionable practices, than this company is given a negative score depending on the grade of involvement. The grade of involvement is determined by codes. The codes were drawn up by the External advisory board.

Involvement in questionable

Animal Testing

Military industryGenetic Engeneering

Nuclear power

0%

20%

40%

60%

80%

100%1

2

34

5

5. Our SRI products overview

Bond or mixed funds:

KBC IF Ethical Euro Bonds

KBC Obli Euro – KBC Renta

KBC IF Global Ethical Defensive 1 (80/20)

Open Equity: KBC Eco Fund: • World

• Alternative Energy

• Water

• Sustainable Euroland

KBC IF Ethical Euro Equities

Closed-end: KBC Equisafe Sustainables (institutional)

KBC Equisafe Sustainables World (retail)

Tailor-made sustainability or

ethical screening

KBC IF Ethical Euro Bonds (733 mio €)

KBC Obli Euro (236 mio €)

KBC IF Global Ethical Defensive 1 (80/20) (173 mio €)

SRI-strategy: Gov. Bonds: Country selection

Corporate bonds: Global SRI universe

Equities: Global SRI universe

Supranationals: automatically allowed

Management strategy: Identical to ‘classic’ funds

top-down approach

5. Our SRI products bond or mixed funds

Ethical Def Ethical Bonds2006 2.70% 0.12%2005 8.56% 4.12%2004 6.35% 7.46%2003 5.84% 4.41%

Return

5. Our SRI products equity funds: KBC Eco Fund World

MSCI Eco World MSCI Eco World2006 5% 7% 0.51 0.782005 24% 13% 2.44 1.402004 5% 0% 0.41 0.022003 5% 15% 0.30 0.79

Return Sharpe

SRI-strategy: Best-in-class on total SRI score

Best-in-class on “environment”:

• 40% best companies on environment ”

• minimum “environmental score” of 60%

no negative appreciation by Environmental Advisory Board

Sustainable universe of 477 companies (since 2006)

Management strategy: Benchmark MSCI World

Top-down approach:

• Regional allocation

• Sectoral allocation

• Stock picking

Eco WorldGlobal

SRI

SRI-strategy: Screening by Environmental Advisory Board

Substantial part of corporate activity in “water”

Not affected by controversial practices concerning SRI

No bottling companies

Water universe: 89 companies

Management strategy: Top-down approach

Long term assessments quarterly

Investing in IPO’s

Stock picking:

• Investment Requirements • Regulatory Environment

• New Legislation • Emerging Technology

• Valuation

5. Our SRI products equity funds: KBC Eco Fund Water

Eco WaterGlobal

SRI

0

5

10

15

20

25

30

35

% of Fund 22,8 11,4 7,8 25,1 33

Water Technology

Engineering Env ControlMisc

EquipmentWater/Wast

ewater

5. Our SRI products equity funds: KBC Eco Fund Water

MSCI Eco Water Pictet SAM Water2006 5% 15% 22% 18%2005 24% 28% 27% 22%2004 5% 22% 18% 15%2003 5% 12% 8% 15%2002 -30% -29% -31% -25%

ReturnMSCI Eco Water Pictet SAM Water

2006 0.51 1.22 2.03 1.582005 2.44 2.65 3.00 2.542004 0.41 2.23 1.81 1.542003 0.30 0.79 0.50 1.092002 -1.24 -1.59 -1.71 -1.62

Sharpe

SRI-strategy: Screening by Environmental Advisory Board

Substantial part of corporate activity in “alternative energy”

Not affected by controversial practices concerning SRI

Alt. en. universe: 106 companies

Management strategy: Top-down approach

Long term assessments quarterly

Investing in IPO’s

Stock picking:

• Current Trends

• Government Subsidies

• New Legislation

• Emerging Technology

• Valuation

5. Our SRI products equity funds: KBC Eco Fund Alternative Energy

Eco Alt.Ene.Global

SRI

Current Allocation of Fund

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

Sector

%

Current Portfolio

29.2% 17.8% 15.1% 19.7% 3.8% 14.3%

Longterm Targets

40% 20% 10% 15% 10% 5%

Utilities Wind Energy Solar Fuel Cells Microturbines Other

5. Our SRI products equity funds: KBC Eco Fund Alternative Energy

-18%-11%

1%8% 8%

-30%

-20%

-10%

0%

10%

20%

30%

2001 2002 2003 2004 2005 2006

KBC Eco Fund Alternative Energy

Performance to benchmark

25%

MSCI Eco Alt. En MSCI Eco Alt. En2006 5% 14% 0.51 0.652005 24% 48% 2.44 3.322004 5% 13% 0.41 1.142003 5% 6% 0.30 0.452002 -30% -41% -1.24 -2.022001 -12% -30% -0.62 -1.35

Return Sharpe

SRI-strategy: Global SRI universe

Management strategy: benchmark MSCI EMU

Top-down approach

Identical investment strategy to KBC IF Euro Equities (since 2006)

EMUGlobal

SRI

5. Our SRI products

5. Our SRI products equity funds: KBC IF Ethical Euro Equities

90

100

110

120

130

140

150

Dez04

Apr 05 Jul 05 Nov05

Feb06

Jun06

Sep06

40

50

60

70

80

90

100

110

Dez01

Mai 02Okt 02Feb 03 Jul 03 Dez03

Apr 04 Sep04

KBC IF Ethical Euro Equities

KBC IF Euro Equities

Ethical Euro Ethical EuroReturn -6.59% -3.92% 27.04% 27.10%St. deviation 24.04% 23.55% 12.39% 12.05%Sharpe -0.40 -0.25 2.18 2.25

2001-2004 2005 - nu

Period 2001-2004 Since 2005

Client defines own CSR criteria/ethical screens: Exclusion list (weapons,tobacco, engineering, human rights

violations, breaches of conventions,…)

Tailor made sustainable universe:

• Additional screening criteria

• Different selection criteria (best-in-class 20%)

• Best-in-class (regional and small vs large cap neutral)

Closed-end funds with capital protection:

• Individualised baskets of companies

• Selection criteria to be defined by customer

5. Our SRI products tailor made products

Criteria: Basic SRI conditions plus:

+ BIC environment

+ no/low involvement ozone depleting chemicals

+ use of alternative energy

+ No unaddressed environmental allegations

5. Our SRI products simulation 1: Green universe

SIMULATION 1 Total EUR ROE NAM JAP PACBasic conditions 950 183 318 219 166 64BIC Environment -227 -35 -71 -88 -15 -18No ozone depletion -6 -3 -2 -1 0 0Alternative energy -595 -113 -200 -107 -139 -36No Env. breaches 0 0 0 0 0 0

Green Fund 122 32 45 23 12 10

Criteria: Basic SRI conditions plus:

+ BIC business ethics & corp governance

+ no gambling

+ no anticonception/abortus related activities/products:

+ Pornography: no ‘adult entertainment’ services

5. Our SRI products Simulation 2: Business ethics universe

SIMULATION 2 Total EUR ROE NAM JAP PACBasic conditions 950 183 318 219 166 64BIC Corp Gov -54 -15 -15 -2 -20 -2Gambling -7 0 -3 -2 0 -2Anticonception -6 -2 -2 -2 0 0Pornography -15 -6 -3 -1 -5 0

Ethical Fund 868 160 295 212 141 60

Eurosif Transparency Guidelines

web application: www.kbc.be/duurzaambeleggen

Sector ranking with the possibility to sort on the different partial

scores

Company fact sheet

• sustainability scores

• sustainability graph

Studies: sector specific studies or studies

on specific CSR-issues

NGO - breakfast

Biannual publication of

‘Monitor Duurzaam Beleggen’

6. Transparency

SRI works: Growing demand for SRI funds

SRI does not result in underperformance

Tailor made products are possible

KBC is pioneer in SRI and has a

splendid track record

Conclusions

Ansprechpartner für Deutschland

KBC Bank Deutschland AGFondsvertrieb/Asset Management

Zentrale Bremen Niederlassung FrankfurtWachtstr. 16 Voltastr. 8128195 Bremen 60486 Frankfurt / MainTel: + 49 (0) 421 - 36 84 - 363Fax: + 49 (0) 421 - 36 84 - 489Internet www.kbcfonds.de

Zentrale Bremen

Rainer Ottemann Thomas Meyer Tel: + 49 (0) 421 - 36 84 - 320 Tel: + 49 (0) 421 - 36 84 - 331eMail: rainer.ottemann@kbc.be eMail: thomas.meyer@kbc.be

Niederlassung FrankfurtArend van Itterbeek Axel UllmannTel.: + 49 (0) 69 - 75 61 93 - 10 Tel.: + 49 (0) 69 - 75 61 93 - 28eMail: arend.vanitterbeek@kbc.be eMail: axel.ullmann@kbc.be

Peter KruyniersTel: +49 (0) 69 - 75 61 93 - 35eMail: peter.kruyniers@kbc.be

Ansprechpartner für Österreich

KBC Bank Deutschland AGFondsvertrieb/Asset Management

Zentrale Bremen Niederlassung FrankfurtWachtstr. 16 Voltastr. 8128195 Bremen 60486 Frankfurt / MainTel: + 49 (0) 421 - 36 84 - 363Fax: + 49 (0) 421 - 36 84 - 489Internet www.kbcfonds.at

Niederlassung Frankfurt

Wilfried Marco ThoernerTel.: + 49 (0) 69 - 75 61 93 - 46 eMail: wilfried.thoerner@kbc.be

Zentrale Bremen

Rainer Ottemann Sandra Eichler Tel: + 49 (0) 421 - 36 84 - 320 Tel: + 49 (0) 421 - 36 84 - 266eMail: rainer.ottemann@kbc.be eMail: sandra.eichler@kbc.be

Disclaimer

Die Angaben in diesen Unterlagen gelten nicht als Angebot und dienen lediglich der Information. Für die Richtigkeit und Vollständigkeit des Inhalts wird keine Haftung oder Gewähr übernommen. Empfehlungen und Meinungen zu Fonds, Teilfonds oder Anteilsklassen, Märkten, zur generellen Marktentwicklung oder anderer Art sind die subjektive Ansicht der Verfasser und sind für KBC Asset Management NV nicht verpflichtend. Die Umsetzung von in diesen Unterlagen enthaltenen Fondsempfehlungen liegt immer in der alleinigen Verantwortung des Intermediärs bzw. Anlegers. Anlagen sollen erst nach der gründlichen Lektüre der aktuellen Versionen des ausführlichen Verkaufsprospektes, des Kurzprospektes (vereinfachter Prospekt), der Satzungen, der Jahresberichte und ggf. nachfolgender Halbjahresberichte sowie nach einer Beratung durch einen unabhängigen Finanz- und Steuerspezialisten getätigt werden. Die erwähnten Dokumente erhalten Sie kostenlos bei KBC Asset Management NV, Havenlaan 2, 1080 Brüssel (Belgien), im Internet (www.kbcfonds.de/www.kbcfonds.at) oder bei den unten angegebenen Adressen.

Der Wert und die Rendite der Anteile können fallen und steigen. Sie werden durch die Marktvolatilität sowie durch Wechselkursschwankungen beeinflusst. Die vergangene Performance ist kein Indikator für die laufende oder künftige Wertentwicklung. Die Performancewerte sind ohne die bei Ausgabe und Rücknahme von Anteilen anfallenden Kommissionen und Kosten gerechnet. Die Aufteilung nach Branchen, Ländern und Währungen und die einzelnen Positionen sowie ggf. angegebene Benchmarks können sich jederzeit im Rahmen der im ausführlichen Verkaufsprospekt festgelegten Anlagepolitik ändern.

Die folgenden Umbrella-Fonds sind grundsätzlich zum Vertrieb in Deutschland und Österreich zugelassen: KBC Bonds Sicav, KBC Renta Sicav, ACCESS Fund Sicav, Europartners Multi Investment Fund Sicav, KBC Eco Fund Bevek und KBC Equity Fund Bevek (letzterer ist nicht in Österreich zum öffentlichen Vertrieb registriert). In Ländern, in denen ein Fonds oder Teilfonds noch nicht zum öffentlichen Vertrieb registriert ist, ist der Verkauf von Anteilen nur im Rahmen von Privatplatzierungen bzw. im institutionellen Bereich und unter Beachtung der anwendbaren lokalen Gesetzgebung möglich. Namentlich sind die Fonds der KBC Asset Management NV nicht in den Vereinigten Staaten und ihren abhängigen Territorien registriert und dürfen daher dort weder angeboten noch verkauft werden.

DEUTSCHLAND: Die zuvor genannten EU-harmonisierten Fonds der KBC Asset Management NV nach Luxemburger Recht (Sicav) und nach Belgischem Recht (Bevek) sind in Deutschland zum öffentlichen Vertrieb berechtigt.Zahl- und Informationsstelle: KBC Bank Deutschland AG, Wachtstr. 16, 28195 Bremen.

ÖSTERREICH: Die zuvor genannten EU-harmonisierten Fonds der KBC Asset Management NV nach Luxemburger Recht (Sicav) und nach Belgischem Recht (Bevek) sind mit Ausnahme des KBC Equity Fund in Österreich zum öffentlichen Vertrieb berechtigt. Zahlstelle: Erste Bank der oesterreichischen Sparkassen AG, Graben 21, 1010 Wien.