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| Assogestioni Category | Flexible |
| Year of inception | April-01 |
| Currency of denomination | Euro |
| Geographical areas | Europe, North America, South America, Asia and Pacific |
| Bearer ISIN | IT0003054142 |
| Benchmark | Alternative risk indicator: Value at risk (VaR), holding periodo of one month, 99% confidence interval, Value -6% |
| Goal | Pursuit of return targets without preconceived restrictions concerning the financial instruments (equities/bonds) in which to invest |
| Holding period | Medium-term (3/5 years) |
| Risk level | High |
| Initial payment | 1,000 € |
| Management commission | 1.5% (per annum)* |
| Performance commission | 20% of the increase in value with respect to the performance of the MTS BOT Index + 200 basis points (only if positive) |
| Fee Cap | 5% |
| one-year return (31/12/07 - 31/12/08) | -24.03% |
| one-year return of benchmark (31/12/07 - 31/12/08) | --- |
| average annual compound return over five years (31/12/03 - 31/12/08) | -3.19% |
| average annual compound return of benchmark over five years (31/12/03 - 31/12/08) | --- |
AREA OF INVESTMENT
Equities, bonds, and other financial instruments, regardless of issuer or currency of denomination.
INVESTOR PROFILE
Stock and bond market volatility may lead to temporary decreases in the value of investment. As a consequence, the type of investments employed by the fund makes it suitable for investors with a very high risk tolerance and a medium holding period.
MANAGEMENT STYLE
The portfolio is managed actively and dynamically, investing in bonds and equities. Unit value may fluctuate considerably.
The investment philosophy focuses on an analysis of fundamentals at both the macroeconomic and industry and company levels, as well as long- and short-term market trends. As a result, the portfolio's composition may change frequently both in terms of geographical and industry allocation and the weight of the equity and bond components.
Decisions are consequently taken after conducting research not only into income prospects, valuation levels, cash flow analysis, and risk control, but also short-term market expectations. 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.
