Risk profile: High
Management type: Flexible with VaR
Annual return target: 4-6% per annum*
Time horizon on the line: at least 3 years
Risk: average of the last 52 weekly VaR readings, maximum 9% 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.
The line aims to achieve a positive absolute return regardless of market movements, through the use of financial instruments such as ETFs, UCITS, Bonds and Equities.
Preference is given to the use of instruments with a high coupon flow and therefore corporate, structured sovereign convertible and subordinated bonds may be included in the line.
The investment is made with attention to the quantitative monitoring of risk indicators. 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.