LU3108403356

The Fund aims to provide a medium/long-term capital growth by providing a conservative, balanced investment exposure to various asset classes through units of UCITs and/or other UCIs that may invest in cash, bonds, equities, property and commodities. In addition, the Fund may and will at times invest directly in bank deposits and money market instruments.

The Sub-Fund has a low risk profile and is addressed to investors seeking returns from a widely diversified portfolio whose assets are invested in units of UCITS (multi-manager) with various asset classes (multi-asset) and investment objectives and aim to benefit from their active management.

For the quarter ending 30/6, (LF) Fund Of Funds - Global Low (Eurobank class) returned +4.43%. Most major asset classes delivered positive returns. Global Equities outperformed, returning +17.53%, followed by REITS (+8.94%), Bonds (EUR Broad Market, +2.19%) and Cash (+0.526%), while Commodities lost -8.04%, all in Euro terms. MSCI EM outperformed with gains of +22.96%, while the ICE BofAML EUR Broad Index gained +2.19%.

For the quarter, the sub-fund Global Low had an average equity exposure of 20.31%, with a maximum exposure of 21.4% in June and a minimum of 19.0% in March. By quarter-end, the equity exposure was at 21.4%. Average effective allocation in North American equities was 13.4%, 3.0% in Europe and 1.0% in Japan, while approximately 2.9% was the equity exposure in all other regions. The average exposure in bonds was 51.84%, ranging between 43.2% and 54.8% with an average effective duration of 5.2 years, while 28.5% was allocated in sovereign, and 23.4% in corporate bonds. The sub-fund had an average commodities exposure of 5.69%. During the period, the sub-fund had an average cash exposure of 22.16%.