Risk profile: High
Management type: Flexible with VaR
Annual return target: 6-10% per annum*
Time horizon on the line: at least 1 years
Risk: average of the last 52 weekly VaR readings, maximum 15% with a time horizon of 1 month and 95% confidence interval

The investment line aims to pursue a positive absolute return over a predefined time horizon, irrespective of Benchmark constraints.

It invests mainly in complex financial instruments, called investment certificates, with different risk/return profiles.

The investment is made with a focus on 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.