Risk profile: Medium
Management type: Flexible with VaR
Annual return target: 4-5% per annum*
Time horizon on the line: at least 1 year
Risk: average of the last 52 weekly VaR readings, maximum 6% with a time horizon of 1 month and 95% confidence interval

The objective of the line is to pursue a positive absolute return over a predefined time horizon, irrespective of Benchmark constraints.
It invests in different assets than traditional asset management instruments and allows for better diversification, thanks to their decorrelation with the markets, and increases return opportunities while controlling and reducing the overall risk of the portfolio.
The strategy is implemented through UCITS long/short strategies, always taking into consideration the liquidity factor of the instruments comprising the portfolio.
The investment is carried out with attention to the quantitative monitoring of risk indicators. The investment classes exposed to financial risk are used selectively, evaluating the opportunities offered by the markets over time.

*The annual return targets of the investment lines are only forecasts and are not to be interpreted as minimum returns and/or guaranteed returns.