LU3109045628

The Fund aims to provide a medium/long-term capital growth by providing a moderate, 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 medium 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 Medium (Eurobank class) returned +6.99%. 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 Medium had an average equity exposure of 39.65%, with a maximum exposure of 40.6% in June and a minimum of 38.2% in March. By quarter-end, the equity exposure was at 40.5%. Average effective allocation in North American equities was 25.6%, 6.1% in Europe and 1.9% in Japan, while approximately 6.1% was the equity exposure in all other regions. The average exposure in bonds was 38.03%, ranging between 35.6% and 39.3% with an average effective duration of 6.0 years, while 25.5% was allocated in sovereign, and 12.5% in corporate bonds. The sub-fund had an average commodities exposure of 6.67%. During the period, the sub-fund had an average cash exposure of 15.65%.