# Portfolio Turnover Ratio as at December 31, 2021
| GENERALI INVESTMENTS SICAV | in % |
| --- | --- |
| Central & Eastern European Equity | (2.35) |
| Euro Equity | 86.10 |
| Euro Equity Controlled Volatility | 29.99 |
| Euro Future Leaders | 11.34 |
| European Equity Recovery | 75.98 |
| SRI World Equity | 21.20 |
| SRI Ageing Population | (20.24) |
| SRI European Equity | 13.29 |
| Central & Eastern European Bond | 43.05 |
| Convertible Bond | 53.41 |
| Euro Bond | 3.52 |
| Euro Bond 1-3 Years | 30.41 |
| Euro Aggregate Bond | 116.12 |
| Euro Corporate Bond | 23.91 |
| SRI Euro Corporate Short Term Bond | (68.48) |
| SRI Euro Green & Sustainable Bond | 0.66 |
| Euro Short Term Bond | 71.48 |
| SRI Euro Premium High Yield | 7.56 |
| Absolute Return Multi Strategies | 85.75 |
| Global Multi Asset Income | 112.33 |
| Global Income Opportunities | 36.23 |
| Income Partners Asian Debt Fund | 212.42 |

- Global exposure calculation methodThe global exposure of the sub-funds is calculated in accordance with the provisions of the CSSF Circular 11/512.


#### The commitment approach

#### The following sub-funds of the SICAV use the commitment approach to monitor and measure the global exposure:
- GENERALI INVESTMENTS SICAV - Central & Eastern European Equity
- GENERALI INVESTMENTS SICAV - Euro Equity
- GENERALI INVESTMENTS SICAV - Euro Equity Controlled Volatility
- GENERALI INVESTMENTS SICAV - Euro Future Leaders
- GENERALI INVESTMENTS SICAV - SRI World Equity
- GENERALI INVESTMENTS SICAV - SRI Ageing Population
- GENERALI INVESTMENTS SICAV - SRI European Equity
- GENERALI INVESTMENTS SICAV - Central & Eastern European Bond
- GENERALI INVESTMENTS SICAV - Convertible Bond
- GENERALI INVESTMENTS SICAV - Euro Bond
- GENERALI INVESTMENTS SICAV - Euro Bond 1-3 Years
- GENERALI INVESTMENTS SICAV - Euro Aggregate Bond
- GENERALI INVESTMENTS SICAV - Euro Corporate Bond
- GENERALI INVESTMENTS SICAV - SRI Euro Corporate Short Term Bond
- GENERALI INVESTMENTS SICAV - SRI Euro Green & Sustainable Bond
- GENERALI INVESTMENTS SICAV - Euro Short Term Bond
- GENERALI INVESTMENTS SICAV - SRI Euro Premium High Yield
- GENERALI INVESTMENTS SICAV - Global Multi Asset Income
- GENERALI INVESTMENTS SICAV - Global Income Opportunities
- GENERALI INVESTMENTS SICAV - Income Partners Asian Debt Fund


#### The absolute VaR approach

#### GENERALI INVESTMENTS SICAV - Absolute Return Multi Strategies

#### The limit was set at 20%

#### The VaR figures have been calculated based on the following input data:
- Model used:	Monte-Carlo Simulations
- Confidence level:	99%
- Holding period:	20 days
- Length of data history: At least 1 yearThe utilisation of the VaR limits was as follows:
- Lowest utilisation:	0.46%
- Highest utilisation:	11.69%
- Average utilisation:	1.09%The average level of leverage calculated using the sum of notional approach for the financial year was 134.82%


#### GENERALI INVESTMENTS SICAV - Global Multi Asset Income

#### The limit was set at 20%

#### The VaR figures have been calculated based on the following input data:
- Model used:	Monte-Carlo Simulations
- Confidence level:	99%
- Holding period:	20 days
- Length of data history: At least 1 yearThe utilisation of the VaR limits was as follows:
- Lowest utilisation:	2.97%
- Highest utilisation:	5.16%
- Average utilisation:	4.00%The average level of leverage calculated using the sum of notional approach for the financial year was 240.30%
-

Translation (ENFR, 2021-12-31):
# Portfolio Turnover Ratio au 31 décembre 2021
| GENERALI INVESTMENTS SICAV | En % |
| --- | --- |
| Central & Eastern European Equity | (2,35) |
| Euro Equity | 86,10 |
| Euro Equity Controlled Volatility | 29,99 |
| Euro Future Leaders | 11,34 |
| European Equity Recovery | 75,98 |
| SRI World Equity | 21,20 |
| SRI Ageing Population | (20,24) |
| SRI European Equity | 13,29 |
| Central & Eastern European Bond | 43,05 |
| Convertible Bond | 53,41 |
| Euro Bond | 3,52 |
| Euro Bond 1-3 Years | 30,41 |
| Euro Aggregate Bond | 116,12 |
| Euro Corporate Bond | 23,91 |
| SRI Euro Corporate Short Term Bond | (68,48) |
| SRI Euro Green & Sustainable Bond | 0,66 |
| Euro Short Term Bond | 71,48 |
| SRI Euro Premium High Yield | 7,56 |
| Absolute Return Multi Strategies | 85,75 |
| Global Multi Asset Income | 112,33 |
| Global Income Opportunities | 36,23 |
| Income Partners Asian Debt Fund | 212,42 |

- Méthode de calcul de l’exposition globaleL’exposition globale des compartiments est calculée conformément aux dispositions de la circulaire 11/512 de la CSSF.


#### L’approche par les engagements

#### Les compartiments suivants de la SICAV utilisent une approche par les engagements afin de suivre et de mesurer leur exposition globale:
- GENERALI INVESTMENTS SICAV - Central & Eastern European Equity
- GENERALI INVESTMENTS SICAV - Euro Equity
- GENERALI INVESTMENTS SICAV - Euro Equity Controlled Volatility
- GENERALI INVESTMENTS SICAV - Euro Future Leaders
- GENERALI INVESTMENTS SICAV - SRI World Equity
- GENERALI INVESTMENTS SICAV - SRI Ageing Population
- GENERALI INVESTMENTS SICAV - SRI European Equity
- GENERALI INVESTMENTS SICAV - Central & Eastern European Bond
- GENERALI INVESTMENTS SICAV - Convertible Bond
- GENERALI INVESTMENTS SICAV - Euro Bond
- GENERALI INVESTMENTS SICAV - Euro Bond 1-3 Years
- GENERALI INVESTMENTS SICAV - Euro Aggregate Bond
- GENERALI INVESTMENTS SICAV - Euro Corporate Bond
- GENERALI INVESTMENTS SICAV - SRI Euro Corporate Short Term Bond
- GENERALI INVESTMENTS SICAV - SRI Green & Sustainable Bond
- GENERALI INVESTMENTS SICAV - Euro Short Term Bond
- GENERALI INVESTMENTS SICAV - SRI Euro Premium High Yield
- GENERALI INVESTMENTS SICAV - Global Multi Asset Income
- GENERALI INVESTMENTS SICAV - Global Income Opportunities
- GENERALI INVESTMENTS SICAV - Income Partners Asian Debt Fund


#### L’approche de la VaR absolue

#### GENERALI INVESTMENTS SICAV - Absolute Return Multi Strategies

#### La limite était fixée à 20%.

#### Les chiffres de la VaR ont été calculés sur la base des données suivantes :
| - Modèle utilisé | Simulation Monte-Carlo |
| --- | --- |
| - Niveau de confiance | 99% |
| - Période de detention | 20 jours |
| - Période de l’historique des données | Au moins 1 an |


#### L’utilisation des limites afférents à la VaR était la suivante :
| - Plus faible utilisation | 0,46% |
| --- | --- |
| - Plus forte utilisation | 11,69% |
| - Utilisation moyenne | 1,09% |


#### Le niveau moyen d’effet de levier calculé à l’aide de l’approche de la somme des notionnels pour l’exercice financier était de 134,82%.

#### GENERALI INVESTMENTS SICAV -Global Multi Asset Income

#### La limite était fixée à 20%.

#### Les chiffres de la VaR ont été calculés sur la base des données suivantes :
| - Modèle utilisé | Simulation Monte-Carlo |
| --- | --- |
| - Niveau de confiance | 99% |
| - Période de detention | 20 jours |
| - Période de l’historique des données | Au moins 1 an |


#### L’utilisation des limites afférents à la VaR était la suivante :
| - Plus faible utilisation | 2,97% |
| --- | --- |
| - Plus forte utilisation | 5,16% |
| - Utilisation moyenne | 4,00% |


#### Le niveau moyen d’effet de levier calculé à l’aide de l’approche de la somme des notionnels pour l’exercice financier était de 240,30%.
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