The Fund is actively managed and aims to achieve long term capital growth, through its portfolio of stocks of companies listed in the Athens Stock Exchange, Greek Government bonds and Greek Corporate bonds. The Fund can use derivatives to reduce the impact of market changes. In addition, the Fund may invest in bank deposits, money market instruments and /or units of UCITS. The Units in the Classes Eurobank DIS and Private Banking DIS are all distributing Units (as defined in section 9 “Distribution policy” of this Prospectus). For 2025, the annual dividend was 2,50%. For 2026 the estimated dividend is expected to reach up to 2,50%.

The Athens Stock Exchange ranked at the top of performance among all international equity markets in 2025, recording a return of +44.3%. Specifically, in the global ranking it achieved the fourth-best performance among all investment asset classes worldwide in U.S. dollar terms, outperforming European equities (MSCI Europe +16%) as well as the global index (MSCI World +6.3%). The banking sector made a particularly strong positive contribution, rising by 78.4% over the same period.This positive trend reflects the continued strong performance of the Greek economy’s macroeconomic fundamentals, along with the significant improvement in the corporate profitability of listed companies. At the same time, a re-rating of Greek equity valuations was observed. Despite the Athens Stock Exchange’s outperformance during the year, valuations continue to remain attractive compared with the European sector. Moreover, total dividends distributed by listed companies are expected to reach historically high levels in 2025, with dividend yield approaching 4.2%.In addition, the Athens Stock Exchange will be integrated into the Euronext Group, the largest operator of European capital markets, following the successful completion of the public tender offer with an acceptance rate of 74.2%. The acquisition of the Athens Stock Exchange by the Euronext Group is expected to provide greater liquidity to the Greek capital market and enhance the international presence of Greek companies, generating positive spillover effects for the Greek economy. The announcement by FTSE Russell regarding the upgrade of the Athens Stock Exchange to “Developed Market” status, effective from September 2026, is expected to further strengthen the momentum of the Greek stock market, while decisions by other international index providers regarding a potential upgrade remain pending.Furthermore, Greece’s upgraded geopolitical position is boosting investment interest, as the country is evolving into an energy hub in Southeastern Europe following strategic agreements for the transport of liquefied natural gas to Central and Eastern Europe. Nevertheless, uncertainty stemming from geopolitical developments may affect the short-term performance of the Greek stock market

The sub-fund returned 3,77% for the quarter.The fixed income allocation remained broadly stable, with a defensive duration stance relative to the relevant target market characteristics. The fixed income portion of the portfolio remained at the same level, with overall portfolio duration moving around 5.5.