# MARKET EXPOSURE
|  | Long Exposure (%) | Short Exposure (%) | Gross Exposure (%) | Net Exposure (%) |
| --- | --- | --- | --- | --- |
| Total | 114.55 | 72.99 | 187.54 | 41.57 |
| Currencies | 6.81 | 44.73 | 51.54 | -37.92 |
| Equities | 65.89 | 26.58 | 92.47 | 39.31 |
| Interest Rates | 41.85 | 1.68 | 43.53 | 40.17 |

Exposures modelled using services provided by HedgeMark Risk Analytics LLC (a BNY Mellon subsidiary). In the case of interest rate products, exposure data is represented by the 10-year equivalent instrument.
| TOP 10 LONG HOLDINGS % (NV) |  |  |
| --- | --- | --- |
|  | Fund |
| Slack Technologies | 1.26 |
| Alexion Pharmaceuticals | 1.25 |
| Altaba Inc | 1.11 |
| Willis Towers | 1.07 |
| Nuance Communications | 0.96 |
| PNM Resources | 0.94 |
| Xilinx | 0.88 |
| Hayward Holdings | 0.87 |
| G-III Apparel | 0.80 |
| Coherent | 0.79 |
| Top positions are as of the most recent quarter end and exclude non-fundamental positions (e.g. indices and currency forwards that act |
| as hedges). |  |
| TOP 10 SHORT HOLDINGS % (NV) |  |
|  | Fund |  |  | 3 years |
| Aon | 1.07 |  | Alpha (%) | -0.02 |
| Advanced Micro Devices | 0.95 |  | Tracking Error (%) | 2.93 |
| Astrazeneca | 0.89 |  | Beta | 0.72 |
| Analog Devices | 0.77 |  | Sharpe Ratio | 0.44 |
| S&P Global | 0.74 |  | Information Ratio | -0.28 |
| Salesforce.com | 0.54 |  | R-Squared (%) | 74.76 |
| Strategic Education | 0.52 |  | Standard Deviation | 4.82 |
| Perdoceo Education | 0.43 |  |  |  |
| Qualys | 0.39 |  |  |  |
| Hellofresh | 0.36 |  |  |  |

Top positions are as of the most recent quarter end and exclude non-fundamental positions (e.g. indices and currency forwards that act as hedges).
| I SHARE CLASS DATA |  |
| --- | --- |
| Share Class | Currency | Inception Date (Share Class) | ISIN | Bloomberg | VALOR | Minimum Investment |
| CHF I Accumulating Class | CHF | 06-02-2014 | IE00BDZTLL02 | NBACHIA ID | 23499631 | 2,500,000 |
| EUR I Accumulating Class | EUR | 12-02-2014 | IE00BDZTLV00 | NBAEIAE ID | 23499643 | 2,500,000 |
| JPY I Accumulating Class | JPY | 04-06-2014 | IE00BF109W83 | NARMSJA ID | 22592959 | 250,000,000 |
| USD I Accumulating Class | USD | 31-10-2013 | IE00BF10B442 | NARIAUS ID | 22592983 | 2,500,000 |

Some share classes listed are subject to restrictions, please refer to the fund's prospectus for further details. For a full glossary of terms, please refer to www.nb.com/glossary
Before subscribing please refer to prospectus and the Key Investor Information Document www.nb.com/europe/literature

Translation (ENES, 2021-07-30):
# EXPOSICIÓN DE MERCADO
|  | Exposición larga (%) | Exposición corta (%) | Exposición bruta (%) | Exposición neta (%) |
| --- | --- | --- | --- | --- |
| Total | 114,55 | 72,99 | 187,54 | 41,57 |
| Divisas | 6,81 | 44,73 | 51,54 | -37,92 |
| Renta Variable | 65,89 | 26,58 | 92,47 | 39,31 |
| Tipos de interés | 41,85 | 1,68 | 43,53 | 40,17 |

Los datos de exposición utilizan HedgeMark Risk Analytics (una subsidiaria de BNY Mellon). Para los productos de renta fija, la exposición está representada por el instrumento equivalente a 10 años.
| ASIGNACIÓN 10 PRINCIPALES POSICIONES (LONG) % (VM) |  |  |
| --- | --- | --- |
|  | Fondo |
| Slack Technologies | 1,26 |
| Alexion Pharmaceuticals | 1,25 |
| Altaba Inc | 1,11 |
| Willis Towers | 1,07 |
| Nuance Communications | 0,96 |
| PNM Resources | 0,94 |
| Xilinx | 0,88 |
| Hayward Holdings | 0,87 |
| G-III Apparel | 0,80 |
| Coherent | 0,79 |
| Las principales posiciones son las de finales del último trimestre y no incluyen posiciones no fundamentales (por ejemplo: índices y currency |
| forwards que actúan como cobertura) |  |
| ASIGNACIÓN 10 PRINCIPALES POSICIONES (SHORT) % (VM) |  |
|  | Fondo |  |  | 3 años |
| Aon | 1,07 |  | Alfa (%) | -0,02 |
| Advanced Micro Devices | 0,95 |  | Error de seguimiento (%) | 2,93 |
| Astrazeneca | 0,89 |  | Beta | 0,72 |
| Analog Devices | 0,77 |  | Ratio de Sharpe | 0,44 |
| S&P Global | 0,74 |  | Ratio de información | -0,28 |
| Salesforce.com | 0,54 |  | R-cuadrado (%) | 74,76 |
| Strategic Education | 0,52 |  | Desviación estándar | 4,82 |
| Perdoceo Education | 0,43 |  |  |  |
| Qualys | 0,39 |  |  |  |
| Hellofresh | 0,36 |  |  |  |

Las principales posiciones son las de finales del último trimestre y no incluyen posiciones no fundamentales (por ejemplo: índices y currency forwards que actúan como cobertura)
| DATOS DE LAS CLASES DE ACCIONES |  |
| --- | --- |
| Clase de acciones | Divisa | Fecha de lanzamiento (Clase de acción) | Código ISIN | Código Bloomberg | VALOR | Inversión mínima |
| Clase I de acc. CHF | CHF | 06-02-2014 | IE00BDZTLL02 | NBACHIA ID | 23499631 | 2.500.000 |
| Clase I de acc. EUR | EUR | 12-02-2014 | IE00BDZTLV00 | NBAEIAE ID | 23499643 | 2.500.000 |
| Clase I de acc. JPY | JPY | 04-06-2014 | IE00BF109W83 | NARMSJA ID | 22592959 | 250.000.000 |
| Clase I de acc. USD | USD | 31-10-2013 | IE00BF10B442 | NARIAUS ID | 22592983 | 2.500.000 |

Algunas clases de acciones están sujestas a restricciones, consulte el folleto para más detalles. Para obtener un glosario completo de términos, visite www.nb.com/glossary
Antes de suscribirse, consulte el Folleto y el Documento de datos fundamentales para el inversor en www.nb.com/europe/literature