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| Assogestioni Category | Italian Equity |
| Year of inception | January-97 |
| Currency of denomination | Euro |
| Geographical areas | Italy |
| Bearer ISIN | IT0001081915 |
| Benchmark | 90% MIB-R Total Return; 10% MTS BoT |
| Goal | Significan growth of invested capital |
| holding period | Long-term (5/10 years) |
| Risk level | High |
| Initial payment | 1,000 € |
| Management commission | 1.50% (per annum)* |
| Performance commission | 20% of the percent increase in the unit value of the Sicav beyond the value of the corresponding benchmark index |
| Fee Cap | 5% |
| one-year return (31/12/07 - 31/12/08) | -38.65% |
| one-year return of benchmark (31/12/07 - 31/12/08) | -36.97% |
| average annual compound return over five years (31/12/03 - 31/12/08) | -2.47% |
| average annual compound return of benchmark over five years (31/12/03 - 31/12/08) | -1.13% |
AREA OF INVESTMENT
Equities listed on the Italian market or issued by Italian companies.
INVESTOR PROFILE
Stock market volatility may lead to temporary decreases in the value of investment. As a consequence, the type of investments employed by the Italian equity sub-fund makes it suitable for investors with a high risk tolerance and a long holding period.
MANAGEMENT STYLE
The portfolio is managed actively and dynamically and may involve significant deviance from the benchmark. The investment philosophy focuses on the analysis of fundamentals at both the macroeconomic and industry and company levels. As a result, decisions are taken after conducting research into income prospects, valuation levels, cash flow analysis, and risk control. Technical analysis is employed on a complementary basis.
Returns are expressed net of tax expenses, excluding commissions.
Past returns are not indicative of future performance. Benchmark figures are prepared by considering the reinvestment of coupons and/or dividends.
(*)The management fee is calculated daily on the basis of the net asset value of each sub-fund of the SICAV and/or Fund and is deducted from the latter with a value date of the last day of stock exchange trading in each quarter.
This is a translation provided only for your convenience. Only the Italian text has legal value.
