Risk profile: Medium
Management type: Flexible with VaR
Annual return target: 4-6% per annum*
Time horizon on the line: at least 2 years
Risk: average of the last 52 weekly VaR readings, maximum 6% with a time horizon of 1 month and 95% confidence interval

The line aims to achieve a result consistently above the rate of return on risk-free financial instruments.

The objective of achieving a positive absolute result regardless of market dynamics is pursued through the use of financial instruments such as ETFs, UCITS. Bonds and equities are used in extremely rare cases.

Investments are made with a focus on quantitative monitoring of risk indicators.
The 'absolute return' approach guides the investment choices of the manager, who constantly seeks approaches and instruments aimed at decorrelating the portfolio as much as possible from market trends. The approach is always top-down, involving tactical operations but not trading activities.

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