# Model asset allocation breakdown
### GAM MFS Global Dynamic Growth Portfolio – The strategy is designed for clients seeking to participate in global equity market growth.
It is intended that the Fund will maintain a bias towards growth and may invest up to 100% in collective investment schemes which invest equities. Exposure to fixed income, absolute return and alternative collective investment schemes may be on an ancillary basis.

### Fixed Income 2.5%

### North American 17.7%

### Asia Pacific 10.8%

### Japan 13.2%

### Absolute Return 2.4%

### Emerging 12.2%
| Asset Class |  | Manager - Fund | % |
| --- | --- | --- | --- |
| 	Specialist 2.5%	 |  |  Active Global High Income Bond Fund Unhedged	 | 2.5 |
| 	Global Macro 2.4%	 |  |  JPM Global Macro Opportunities Fund	 | 2.4 |
| 	Global 7.6%	 |  |  GAM Star Disruptive Growth	 | 7.6 |
| Europe 13.5% |  | Amundi Prime Eurozone ETF | 4.3 |
|  |  | BGF Continental European Flexible Fund | 4.5 |
| UK 11.7% |  | Comgest Growth Europe ex-UK Polar Capital Funds UK Value Opportunities Fund Ninety One Funds UK Alpha Fund | 4.8 6.2 5.5 |


### 4.9

### iShares Edge MSCI USA Value Loomis Sayles US Equity Leaders Loomis Sayles US Growth Equity Fund Amundi Prime USA ETF

### 0.0

### 6.7

### 6.2

### CompAM Cadence Strategic Asia Veritas Asian

### Coupland Cardiff Japan Alpha JPM Japan Fund

### 5.3

### 5.6

### 6.1

### 7.0

### RWC Global Emerging Markets Fund GAM Emerging Equity

### Amundi Msci Emerging Markets ETF

### 5.0

### 3.1

### 4.1

### iShares Physical Gold ETC

### Premier Pan European Property Share

### Alternatives 5.4%

### 1.9

### 3.5

### Equity 86.8%

### Alternatives 5.4%

### Cash 2.9%

Translation (ENIT, 2021-12-31):
# Asset allocation modello
GAM MFS Global Dynamic Growth Portfolio – Questa strategia è idonea per quei clienti che desiderano partecipare all’espansione del mercato azionario globale.
Si prevede che il Fondo conserverà una preferenza per la crescita e potrà investire fino al 100% in organismi d’investimento collettivo che investono in azioni. L’esposizione ad obbligazioni ed organismi d’investimento collettivo che seguono strategie absolute return ed alternative avrà carattere accessorio.
Reddito fisso 2,5%
America del Nord 17.7%
Asia Pacific 10.8%
Giappone 13.2%
Absolute Return 2,4%
Emergenti 12.2%
| Classe di attivi |  | Manager - Fund | % |
| --- | --- | --- | --- |
| 	Specialist 2.5%	 |  |  Active Global High Income Bond Fund Unhedged	 | 2.5 |
| 	Global Macro 2.4%	 |  |  JPM Global Macro Opportunities Fund	 | 2.4 |
| 	Globali 7.6%	 |  |  GAM Star Disruptive Growth	 | 7.6 |
| Europa 13.5% |  | Amundi Prime Eurozone ETF | 4.3 |
|  |  | BGF Continental European Flexible Fund | 4.5 |
| Regno Unito 11.7% |  | Comgest Growth Europe ex-UK Polar Capital Funds UK Value Opportunities Fund Ninety One Funds UK Alpha Fund | 4.8 6.2 5.5 |

4.9
iShares Edge MSCI USA Value Loomis Sayles US Equity Leaders Loomis Sayles US Growth Equity Fund Amundi Prime USA ETF
0.0
6.7
6.2
CompAM Cadence Strategic Asia Veritas Asian
Coupland Cardiff Japan Alpha JPM Japan Fund
5.3
5.6
6.1
7.0
RWC Global Emerging Markets Fund GAM Emerging Equity
Amundi Msci Emerging Markets ETF
5.0
3.1
4.1
iShares Physical Gold ETC
Premier Pan European Property Share
Strumenti alternativi 5.4%
1.9
3.5
Azionario 86,8%
Strumenti alternativi 5,4%
Liquidità 2,9%