OVHaiLLM/Flipper huggingface dataset:
#  Performance in %
Fund management company
GAM (Luxembourg) S.A.
100
75
50
25
0
-25
-50
2011  2012  2013  2014  2015  2016  2017  2018  2019  2020
Perf. BP-shares	Perf. BP-shares since launch
Custodian	State Street Bank International GmbH, Luxembourg Branch, Luxembourg
Legal structure	SICAV under Luxembourg law
Date activated18.07.2013
Share class launch18.07.2013
Domicile	Luxembourg
Benchmark	MSCI World ND Total Expense Ratio	1.76% (30.06.2020)
Management fee	1.60%
| in % | YTD | 1M | 3M | 6M | 1Y | 3Y p.a. | 5Y	10Y  since p.a.	p.a. launch p.a. |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Fund | -9.53 | 3.42 | 4.21 | 0.61 | 1.58 | 1.12 | 3.75	n.a.	4.47 |
| BM | 5.34 | 6.68 | 14.74 | 15.77 | 16.79 | 9.82 | 10.42	n.a.	9.49 |
| Rolling | 31.08.2019 | 31.08.2018 | 31.08.2017 | 31.08.2016 | 31.08.2015 |

Commission	Issue: max. 5.00% Redemption: max3.00%2
Registered in	AT BE CH DE ES FR GB IE LI LU NL SE
2 
Only if no issuing commission was charged.

Translation (ENIT, 2020-08-31):
#  Evoluzione del valore in %
Gestore degli investimenti
Bank Julius Bär & Co. AG
100
75
50
25
0
-25
-50
2011  2012  2013  2014  2015  2016  2017  2018  2019  2020
Rend. quote BP	Rend. quote BP dall'inizio
Società di gestione	GAM (Luxembourg) S.A.
Banca depositaria	State Street Bank International GmbH,
Luxembourg Branch, Luxembourg Struttura legale	SICAV di diritto lussemburghese Fondo attivo dal18.07.2013
Lancio dell'azione18.07.2013
Domicilio	Lussemburgo
Benchmark	MSCI World ND Total Expense Ratio	1.76% (30.06.2020) Commissione di gestione 1.60%
| in % al | YTD | 1M | 3M | 6M | 1A | 3A annuo | 5A annuo | 10A annuo | dall' inizio p.a. |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fondo | -9.53 | 3.42 | 4.21 | 0.61 | 1.58 | 1.12 | 3.75 | n.a. | 4.47 |
| BM | 5.34 | 6.68 | 14.74 | 15.77 | 16.79 | 9.82 | 10.42 | n.a. | 9.49 |
| Perf. | 31.08.2019 | 31.08.2018 | 31.08.2017 | 31.08.2016 | 31.08.2015 |

Commissione	di emissione: max. 5.00% di rimborso: max3.00%2
Registrato in	AT BE CH DE ES FR GB IE LI LU NL SE
2 
Soltanto se non è stata riscossa alcuna commissione di emissione.
#  Comments
Market review
At the end of August, Federal Reserve Chair Jerome Powell announced his determination to continue his policy of tightening the monetary environment, despite the risk of tipping the economy into recession, pushing all equity markets into the red with the exception of the Hang Seng Index.
Performance contribution and portfolio changes
Our currency diversification in USD (16%) and CHF (20%) as well as our listed derivatives strategies taking advantage of the excess of volatility were the positive vectors of the relative right outfit of the portfolio. With the exception of the above mentioned, communication was the only positive sector performer during the month. The laggers were utilities, technology and industrial.
Outlook and strategy
We adapt our macroeconomic forecast scenarios as follows: short recession/resurgence of inflation 40%; prolonged inflation - stagflation/deflation 30%; exogenous shocks 25%; soft landing 5%. We therefore conserve a substantial amount of cash of more than 25%.

Translation (ENIT, 2022-08-31):
#  Note
Retrospettiva
A fine agosto, il presidente della Federal Reserve Jerome Powell ha annunciato di voler proseguire la politica di inasprimento monetario, nonostante il rischio di portare l'economia in recessione, spingendo tutti i mercati azionari in rosso, ad eccezione dell'indice Hang Seng.
Contributo alla performance e cambiamenti in portafoglio
La nostra diversificazione valutaria in USD e CHF e le nostre strategie sui derivati quotati che hanno sfruttato l'eccesso di volatilità sono stati i contributori positivi della performance relativa del portafoglio. Con l'eccezione dei settori sopra citati, quello delle comunicazioni è stato l'unico a registrare una performance positiva nel corso del mese. I settori i in negativo sono stati le utility, la tecnologia e l'industria.
Prospettive e strategia
Adattiamo i nostri scenari di previsione macroeconomica come segue: breve recessione/ripresa dell'inflazione 40%; inflazione prolungata - stagflazione/deflazione 30%; shock esogeni 25%; soft landing 5%. Pertanto, conserviamo una quantità sostanziale di liquidità, superiore al 25%.
#  Statistics
Volatility fund/benchmark (%)	17.07 / 18.291 Tracking Error (%)	7.381
 Information ratio/Sharpe ratio	-0.17 / 0.441 Correlation	0.921
 Jensen Alpha/Beta	0.03 / 0.851
Exxon Mobil Corp	US	3.07
ConocoPhillips	US	2.84
Thales SA	FR	2.60
Total14.93

Translation (ENIT, 2022-10-31):
#  Dati statistici
Volatilità fondo/benchmark (%)	17.07 / 18.291 Tracking error (%)	7.381
 Information ratio/Sharpe ratio	-0.17 / 0.441 Correlazione	0.921
 Jensen Alpha/Beta	0.03 / 0.851
Thales SA	FR	2.60
Totale14.93
#  Largest positions	
Security	%
Goodman Group	AU	9.30
Link REIT	HK	8.86
Scentre Group	AU	5.62
Japan Retail Fund Inv C	JP	5.35
GLP J-Reit	JP	5.21

Translation (ENIT, 2022-01-31):
#  Le maggiori posizioni	
Titolo	%
Goodman Group	AU	9.30
Link REIT	HK	8.86
Scentre Group	AU	5.62
Japan Retail Fund Inv C	JP	5.35
GLP J-Reit	JP	5.21
#  Performance in %
Fund management company
GAM (Luxembourg) S.A.
30
20
10
0
-10
-20
2018	2019	2020	2021	2022	2023
Perf. V-shares	Perf. V-shares since launch
Custodian	State Street Bank International GmbH, Luxembourg Branch, Luxembourg
Legal structure	SICAV under Luxembourg law
Launch date30.07.1999
Launch Share class26.02.2018
Domicile	Luxembourg
Benchmark	No suitable benchmark available
Morningstar rating	2
Total Expense Ratio	0.90% (31.12.2022)
| in % | YTD | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y  since |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  | p.a. | p.a. | p.a. launch |

Management fee	0.55%
Minimum investment	EUR 10'000'000
p.a. Fund	3.41  -0.60	0.05	1.31  -4.02	3.11	2.71	n.a.	2.61
Commission	Issue: max. 5.00% Redemption: max. 3.00%3
Registered in	AT BE CH DE ES FR GB IE LI LU NL
Rolling
28.02.2022
28.02.2021
29.02.2020
28.02.2019
28.02.2018
|  perf.	- 28.02.2023 - 28.02.2022 - 28.02.2021 - 29.02.2020 - 28.02.2019 | 2  © 2023 Morningstar. All Rights Reserved. |
| --- | --- |
| Fund | -4.02 | 4.10 | 9.72 | 4.55 | -0.30 | 3  Only if no issuing commission was charged. |

Past performance is not an indicator of current or future trends. The performance values refer to the net asset value and are calculated without the commission and

Translation (ENIT, 2023-02-28):
#  Evoluzione del valore in %
30
20
10
0
-10
-20
2018	2019	2020	2021	2022	2023
Rend. quote V	Rend. quote V dall'inizio
| in % al | YTD | 1M | 3M | 6M | 1A	3A	5A | 10A	dall' |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  | annuo annuo | annuo  inizio |

p.a. Fondo	3.41  -0.60	0.05	1.31  -4.02	3.11	2.71	n.a.	2.61
Società di gestione	GAM (Luxembourg) S.A.
Banca depositaria	State Street Bank International GmbH,
Luxembourg Branch, Luxembourg Struttura legale	SICAV di diritto lussemburghese Fondo attivo dal30.07.1999
Lancio dell'azione26.02.2018
Domicilio	Lussemburgo
Benchmark	Non è disponibile un indice di rif. adatto
Morningstar rating	2
Total Expense Ratio	0.90% (31.12.2022) Commissione di gestione 0.55%
Investimento minimo	EUR 10'000'000
Commissione	di emissione: max. 5.00% di rimborso: max3.00%3
Registrato in	AT BE CH DE ES FR GB IE LI LU NL
Perf.
28.02.2022
28.02.2021
29.02.2020
28.02.2019
28.02.2018
2 
© 2023 Morningstar. Tutti i diritti riservati.
 rolling	- 28.02.2023 - 28.02.2022 - 28.02.2021 - 29.02.2020 - 28.02.2019
Fondo	-4.02	4.10	9.72	4.55	-0.30
I rendimenti passati non costituiscono un indicatore dei trend attuali o futuri. I valori di
3 
Soltanto se non è stata riscossa alcuna commissione di emissione.
# Important legal information
| www.funds.gam.com or from your distributor. | Liquidity |  | 3.3% |
| --- | --- | --- | --- |
| The mentioned financial instruments are provided for illustrative purposes only and shall not be | Basic Materials |  | 2.7% |
| considered as a direct offering, investment recommendation or investment advice. Allocations and |  |  |  |
| holdings are subject to change. |  |  |  |

Sources: Bloomberg, Rimes, GAM. Please note the important legal information at the end of this document. Before subscribing, read the prospectus and the KIID which are available at
Financial Consumer, Non-Cyclical
Industrial Utilities
Consumer, Cyclical Communications
36.4%

Translation (ENIT, 2022-09-30):
# Disposizioni importanti di carattere legale
Struttura per settori	
Finanziari Beni di consumo, non ciclici
Industriali Servizi pubblici
Beni di consumo, ciclici
Comunicazioni
considerati come un’offerta diretta così come una raccomandazione o consulenza di investimento. Le allocazioni e i titoli sono soggetti a cambiamenti.
-2.6
4.5
23.6
13.1
-3.4
12.0
6.6
19.3
Custodian	State Street Bank International GmbH, Luxembourg Branch, Luxembourg
Legal structure	SICAV under Luxembourg law
Date activated18.07.2013
Share class launch18.07.2013
Domicile	Luxembourg
Benchmark	MSCI World 50% Hedged to CHF
2010  2011  2012  2013  2014  2015  2016  2017
-10.5
2018
2019  2020
Morningstar rating	2
Perf. CP-shares	Perf. CP-shares since launch
in %	YTD	1M	3M	6M	1Y	3Y	5Y
10Y
since
Total Expense Ratio	0.98% (30.06.2020)
Management fee	0.85%
Minimum investment	EUR 500'000 or equivalent
p.a.
p.a.
p.a. launch
p.a.
Commission	Issue: max. 5.00% Redemption: max. 3.00%3
Fund	-12.19	2.87	1.02  -2.28  -2.70  -0.72	2.41	5.07	3.94
BM	0.42	5.87	9.75  10.16	9.27	7.41	8.43	8.96	6.96
Registered in	AT BE CH DE ES FR GB LI LU NL SE

Translation (ENIT, 2020-08-31):
-2.6
4.5
23.6
13.1
-3.4
12.0
6.6
19.3
Società di gestione	GAM (Luxembourg) S.A.
Banca depositaria	State Street Bank International GmbH,
Luxembourg Branch, Luxembourg Struttura legale	SICAV di diritto lussemburghese Fondo attivo dal18.07.2013
Lancio dell'azione18.07.2013
Domicilio	Lussemburgo
Benchmark	MSCI World 50% Hedged to CHF
2010  2011  2012  2013  2014  2015  2016  2017
Rend. quote CP	Rend. quote CP dall'inizio
-10.5
2018
2019  2020
Morningstar rating	2
Total Expense Ratio	0.98% (30.06.2020) Commissione di gestione 0.85%
in % al	YTD	1M	3M	6M	1A	3A
annuo
5A
annuo
10A
annuo
dall' inizio p.a.
Investimento minimo	EUR 500'000 or equivalent
Commissione	di emissione: max. 5.00% di rimborso: max. 3.00%3
Fondo	-12.19	2.87	1.02  -2.28  -2.70  -0.72	2.41	5.07	3.94
BM	0.42	5.87	9.75  10.16	9.27	7.41	8.43	8.96	6.96
Registrato in	AT BE CH DE ES FR GB LI LU NL SE
#  Largest positions	
Security	%
Bristol Myers Squibb	US	3.32
Oracle Corp	US	3.16
Intel Corp	US	2.74
Reckitt Benckiser Group Plc	GB	2.56
Microsoft Corp	US	2.54
Total14.32

Translation (ENIT, 2020-08-31):
#  Le maggiori posizioni	
Titolo	%
Bristol Myers Squibb	US	3.32
Oracle Corp	US	3.16
Intel Corp	US	2.74
Reckitt Benckiser Group Plc	GB	2.56
Microsoft Corp	US	2.54
Totale14.32
#  Statistics	
 Volatility fund/benchmark (%)	12.40 / 14.721 Tracking Error (%)	4.411
 Information ratio/Sharpe ratio	0.97 / 0.491 Correlation	0.961
 Jensen Alpha/Beta	4.54 / 0.811
1 
computed over 3 years

Translation (ENIT, 2020-08-31):
#  Dati statistici	
 Volatilità fondo/benchmark (%)	12.40 / 14.721 Tracking error (%)	4.411
 Information ratio/Sharpe ratio	0.97 / 0.491 Correlazione	0.961
 Jensen Alpha/Beta	4.54 / 0.811
1 
calcolato su base triennale
#  Structure by sector
Information Technology
Financials Consumer Discretionary Telecommunication Services
Real Estate Health Care Consumer Staples
Industrials

Translation (ENIT, 2020-08-31):
#  Struttura per settori
Informatica Finanza
Beni voluttuari Servizi di telecomunicazione Investimento immobiliare
Salute Beni di prima necessita'
Industria
#  Largest positions
Security	%
Microsoft Corp	US	5.78
Apple Inc	US	4.71
Alphabet Inc A	US	4.33
Visa Inc	US	4.23
UnitedHealth Group Inc	US	4.08
Nvidia Corp	US	3.00
Johnson & Johnson	US	2.75
MasterCard Inc	US	2.59
ASML Holding NV	NL	2.56
Honeywell Int Inc	US	2.49
Total36.52

Translation (ENIT, 2023-01-31):
#  Le maggiori posizioni
Titolo	%
Microsoft Corp	US	5.78
Apple Inc	US	4.71
Alphabet Inc A	US	4.33
Visa Inc	US	4.23
UnitedHealth Group Inc	US	4.08
Nvidia Corp	US	3.00
Johnson & Johnson	US	2.75
MasterCard Inc	US	2.59
ASML Holding NV	NL	2.56
Honeywell Int Inc	US	2.49
Totale36.52
Classe azioni K / Moneta CHF	31.01.2023	Materiale di marketing
#  Largest positions
Security	%
Microsoft Corp	US	6.63
Apple Inc	US	5.45
Alphabet Inc A	US	5.08
UnitedHealth Group Inc	US	4.99
Visa Inc	US	3.98
Roche Holding GS	CH	3.26
Johnson & Johnson	US	3.23
Walmart Inc	US	2.83
Honeywell Int Inc	US	2.44
Facebook Inc	US	2.26
Total40.15

Translation (ENIT, 2022-09-30):
#  Le maggiori posizioni
Titolo	%
Microsoft Corp	US	6.63
Apple Inc	US	5.45
Alphabet Inc A	US	5.08
UnitedHealth Group Inc	US	4.99
Visa Inc	US	3.98
Roche Holding GS	CH	3.26
Johnson & Johnson	US	3.23
Walmart Inc	US	2.83
Honeywell Int Inc	US	2.44
Facebook Inc	US	2.26
Totale40.15
Classe azioni Kh / Moneta GBP	30.09.2022	Materiale di marketing
#  Performance in %
Fund management company
GAM (Luxembourg) S.A.
100
75
50
25
0
-25
-50
2014	2015	2016	2017	2018	2019	2020	2021	2022
Perf. K-shares	Perf. K-shares since launch
Custodian	State Street Bank International GmbH, Luxembourg Branch, Luxembourg
Legal structure	SICAV under Luxembourg law
Launch date18.07.2013
Launch Share class01.07.2014
Domicile	Luxembourg
Benchmark	MSCI World 50% Hedged to EUR
Morningstar rating	2
Total Expense Ratio	1.01% (30.06.2022)
Management fee	0.85% Minimum investment	EUR 500'000
| in % | YTD | 1M | 3M | 6M | 1Y | 3Y p.a. | 5Y p.a. | 10Y  since p.a. launch p.a. |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund | -2.23 | -5.35 | 6.72 | 4.81 | -2.23 | 6.07 | 5.90 | n.a.	6.17 |
| BM | -15.31 | -6.42 | 3.75 | 1.24 | -15.31 | 5.51 | 6.87 | n.a.	8.94 |
| Rolling | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 | 31.12.2017 |
| perf. | - 31.12.2022 | - 31.12.2021 | - 31.12.2020 | - 31.12.2019 | - 31.12.2018 |
| Fund | -2.23 | 26.71 | -3.67 | 22.00 | -8.55 |
| BM | -15.31 | 27.14 | 9.09 | 27.29 | -6.75 |

Commission	Issue: max. 5.00% Redemption: max3.00%3
Registered in	AT BE BH CH DE ES FI FR GB IE IT LI LU NL SE ZA
2 
© 2022 Morningstar. All Rights Reserved.
3 
Only if no issuing commission was charged.

Translation (ENIT, 2022-12-31):
#  Evoluzione del valore in %
100
75
50
25
0
-25
Società di gestione	GAM (Luxembourg) S.A.
Banca depositaria	State Street Bank International GmbH,
Luxembourg Branch, Luxembourg Struttura legale	SICAV di diritto lussemburghese Fondo attivo dal18.07.2013
Lancio dell'azione01.07.2014
Domicilio	Lussemburgo
Benchmark	MSCI World 50% Hedged to EUR
Morningstar rating	2
-50
2014	2015	2016	2017	2018	2019	2020	2021	2022
Rend. quote K	Rend. quote K dall'inizio
Total Expense Ratio	1.01% (30.06.2022) Commissione di gestione 0.85%
Investimento minimo	EUR 500'000
| in % al | YTD | 1M | 3M | 6M | 1A | 3A annuo | 5A annuo | 10A annuo | dall' inizio p.a. |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fondo | -2.23 | -5.35 | 6.72 | 4.81 | -2.23 | 6.07 | 5.90 | n.a. | 6.17 |
| BM | -15.31 | -6.42 | 3.75 | 1.24 | -15.31 | 5.51 | 6.87 | n.a. | 8.94 |
| Perf. | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 | 31.12.2017 |
| rolling | - 31.12.2022 | - 31.12.2021 | - 31.12.2020 | - 31.12.2019 | - 31.12.2018 |
| Fondo | -2.23 | 26.71 | -3.67 | 22.00 | -8.55 |
| BM | -15.31 | 27.14 | 9.09 | 27.29 | -6.75 |

Commissione	di emissione: max. 5.00% di rimborso: max. 3.00%3
Registrato in	AT BE BH CH DE ES FI FR GB IE IT LI LU NL SE ZA
2 
© 2022 Morningstar. Tutti i diritti riservati.
3 
Soltanto se non è stata riscossa alcuna commissione di emissione.
-25
-50
2017	2018	2019	2020	2021	2022
Perf. I-shares	Perf. I-shares since launch
Custodian	State Street Bank International GmbH, Luxembourg Branch, Luxembourg
Legal structure	SICAV under Luxembourg law
Launch date30.06.2005
Domicile	Luxembourg
Benchmark	FTSE Gold Mines Series (All Mines) PI Total Expense Ratio	0.75% (30.06.2022)
Management fee	0.50% + Perf. Fee2 Minimum investment	EUR 25'000'000

Translation (ENIT, 2022-08-31):
-25
-50
2017	2018	2019	2020	2021	2022
Rend. quote I	Rend. quote I dall'inizio
Società di gestione	GAM (Luxembourg) S.A.
Banca depositaria	State Street Bank International GmbH,
Luxembourg Branch, Luxembourg Struttura legale	SICAV di diritto lussemburghese Fondo attivo dal30.06.2005
Domicilio	Lussemburgo
Benchmark	FTSE Gold Mines Series (All Mines) PI Total Expense Ratio	0.75% (30.06.2022)
Commissione di gestione 0.50% + Perf. Fee2 Investimento minimo	EUR 25'000'000
#  Base data		 NAV per share	EUR 89.16
Total fund assets	EUR 25.48 m
Base currency	USD Available currencies	CHF, EUR
Share class	CF (accumulation)
Bloomberg Ticker	MUSOCFH LX Security code ISIN	LU1857667213 Security code CH42798995
Investment manager   Copernicus Wealth Management SA

Translation (ENIT, 2023-02-28):
#  Dati di base		 Valore netto	EUR 89.16
Patrimonio del fondo	EUR 25.48 Mln.
Valuta di riferimento	USD
Valute disponibili	CHF, EUR
Classe azioni	CF (accumulazione)
Bloomberg Ticker	MUSOCFH LX
Codice ISIN	LU1857667213
Codice di valor CH42798995
Rischio più basso	Rischio più elevato
Gestore degli investimenti
Copernicus Wealth Management SA
#  Statistics	
 Volatility fund/benchmark (%)	20.98 / 17.811 Tracking Error (%)	9.021
 Information ratio/Sharpe ratio	0.67 / 0.731 Correlation	0.901
 Jensen Alpha/Beta	6.23 / 1.071
1 
computed over 3 years

Translation (ENIT, 2022-01-31):
#  Dati statistici	
 Volatilità fondo/benchmark (%)	20.98 / 17.811 Tracking error (%)	9.021
 Information ratio/Sharpe ratio	0.67 / 0.731 Correlazione	0.901
 Jensen Alpha/Beta	6.23 / 1.071
1 
calcolato su base triennale
#  Statistics	
 Volatility fund/benchmark (%)	44.21 / 28.581 Tracking Error (%)	21.771
 Information ratio/Sharpe ratio	-0.23 / 0.251 Correlation	0.911
 Jensen Alpha/Beta	-6.87 / 1.411
1 
computed over 3 years

Translation (ENIT, 2020-08-31):
#  Dati statistici	
 Volatilità fondo/benchmark (%)	44.21 / 28.581 Tracking error (%)	21.771
 Information ratio/Sharpe ratio	-0.23 / 0.251 Correlazione	0.911
 Jensen Alpha/Beta	-6.87 / 1.411
1 
calcolato su base triennale
#  Largest positions
Security	%
Shin-Etsu Chemical	JP2.19
| in % | YTD | 1M | 3M | 6M | 1Y | 3Y | 3Y | 10Y  since | Merck & Co Inc | US | 2.06 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  | p.a. | p.a. | p.a. launch |  | Air Products & Chemicals Inc | US | 2.04 |
| 30.11.22 |  |  |  |  |  |  |  | p.a. |  | Walgreen Boots All Inc | US | 2.03 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| Fund | 0.87 | 6.54 | 7.33 | -2.15 | 8.21 | 5.53 | 3.77 | n.a.	6.50 |  | Home Depot Inc | US | 2.03 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| BM | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a.	n.a. |  | T Rowe Price Group | US | 2.03 |

Kimberly Clark Corp	US2.06
30.09.22
Fund	-13.29  -7.73  -9.33 -15.20  -6.94	1.62	1.04	n.a.	3.98
BM	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
Past performance is not an indicator of current or future trends. The performance values refer to the net asset value and are calculated without the commission and costs incurred on issue, redemption or swapping (e.g. transaction and custody costs of the investor). The indications are based on figures denominated in USD. If this currency is different from the currency of the country in which the investor is resident, the return may increase or decrease as a result of currency fluctuations.
|  Volatility fund/benchmark (%)	18.26 / n.a.1 Tracking Error (%)	n.a.1 | Information Technology | 7.9% |
| --- | --- | --- |
|  Information ratio/Sharpe ratio	n.a. / 0.271 Correlation	n.a.1 | Utilities | 7.4% |
|  Jensen Alpha/Beta	n.a. / n.a.1 | Telecommunication Services | 7.3% |
| 1  computed over 3 years | Industrials | 5.9% |

Translation (ENIT, 2022-11-30):
#  Le maggiori posizioni
Titolo	%
Shin-Etsu Chemical	JP2.19
| in % al | YTD | 1M | 3M | 6M | 1A | 3A | 3A | 10A | dall' | Merck & Co Inc | US | 2.06 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  | annuo | annuo | annuo | inizio |  | Air Products & Chemicals Inc | US | 2.04 |
| 30.11.22 |  |  |  |  |  |  |  |  | p.a. |  | Walgreen Boots All Inc | US | 2.03 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Fondo | 0.87 | 6.54 | 7.33 | -2.15 | 8.21 | 5.53 | 3.77 | n.a. | 6.50 |  | Home Depot Inc | US | 2.03 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| BM | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |  | T Rowe Price Group | US | 2.03 |

Kimberly Clark Corp	US2.06
| 30.09.22 |  |
| --- | --- |
| Fondo | -13.29 | -7.73 | -9.33 | -15.20 | -6.94 | 1.62 | 1.04 | n.a. | 3.98 |

BM	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
I rendimenti passati non costituiscono un indicatore dei trend attuali o futuri. I valori di performance si riferiscono al valore del patrimonio netto e sono calcolati senza tenere conto degli oneri fiscali delle commissioni e dei costi di sottoscrizione, rimborso o conversione (ad es. i costi di transazione e custodia dell'investitore). Le indicazioni si basano su cifre denominate in USD. Se tale valuta è diversa da quella del paese in cui risiede l'investitore, il rendimento potrebbe essere soggetto a variazioni, in positivo o in negativo, dovute alle fluttuazioni valutarie.
|  |
| --- |
|  | 64.3% |
|  | 11.4% |
|  | 7.7% 5.6% .0% |
|  |
| 4 |
| 3.0% 2.0% 1.9% |

Translation (ENIT, 2022-11-30):
|  |
| --- |
|  | 64.3% |
|  | 11.4% |
|  | 7.7% 5.6% .0% |
|  |
| 4 |
| 3.0% 2.0% 1.9% |
#  Structure by sector
Financial Consumer, Cyclical
Energy Communications Consumer, Non-Cyclical
Industrial Basic Materials
Liquidity
| USD |  |  |
| --- | --- | --- |
| CHF GBP | -0.02% | 0.01% |
| EUR | -0.4% |  |

Translation (ENIT, 2022-01-31):
#  Struttura per settori
| Finanziari Beni di consumo, ciclici | 17.2 |
| --- | --- |
|  |  |  |  |
| Energia |  |  | 13.2% |
| Comunicazioni |  |  | 13.0% |
| Beni di consumo, non ciclici |  |  | 12.6% |
| Industriali |  | 5.5% |  |
| Materiali di base |  | 5.2% |  |
| Liquidità |  | 4.9% |  |
|  |  |  |  |

22.0%
%
| Dollaro Usa |  |  |
| --- | --- | --- |
| F. Svizzero GBP | -0.02% | 0.01% |
| EUR | -0.4% |  |
#  Statistics	
 Volatility fund/benchmark (%)	4.76 / 5.951 Tracking Error (%)	3.971
 Information ratio/Sharpe ratio	0.28 / -0.121 Correlation	0.751
 Jensen Alpha/Beta	0.44 / 0.601
1 
computed over 3 years

Translation (ENIT, 2022-04-30):
#  Dati statistici	
 Volatilità fondo/benchmark (%)	4.76 / 5.951 Tracking error (%)	3.971
 Information ratio/Sharpe ratio	0.28 / -0.121 Correlazione	0.751
 Jensen Alpha/Beta	0.44 / 0.601
1 
calcolato su base triennale
#  Largest positions
Security	%
Microsoft Corp	US	5.97
Apple Inc	US	4.92
Visa Inc	US	4.14
Alphabet Inc A	US	4.05
UnitedHealth Group Inc	US	3.97
Nvidia Corp	US	3.61
Johnson & Johnson	US	2.63
MasterCard Inc	US	2.55
ASML Holding NV	NL	2.49
Roche Holding GS	CH	2.47
Total36.80
1 
computed over 3 years

Translation (ENIT, 2023-02-28):
#  Le maggiori posizioni
Titolo	%
Microsoft Corp	US	5.97
Apple Inc	US	4.92
Visa Inc	US	4.14
Alphabet Inc A	US	4.05
UnitedHealth Group Inc	US	3.97
Nvidia Corp	US	3.61
Johnson & Johnson	US	2.63
| MasterCard Inc | US | 2.55 |
| --- | --- | --- |
| ASML Holding NV | NL | 2.49 |
| Roche Holding GS | CH | 2.47 |
| Totale |  | 36.80 |

1 
calcolato su base triennale
#  Statistics	
 Volatility fund/benchmark (%)	19.40 / 18.731 Tracking Error (%)	7.461
 Information ratio/Sharpe ratio	-0.33 / 0.351 Correlation	0.921
 Jensen Alpha/Beta	-1.91 / 0.961
Registered in	AT BE BH CH DE ES FR GB IE LI LU NL ZA
2 
Only if no issuing commission was charged.

Translation (ENIT, 2023-02-28):
#  Dati statistici	
 Volatilità fondo/benchmark (%)	19.40 / 18.731 Tracking error (%)	7.461
 Information ratio/Sharpe ratio	-0.33 / 0.351 Correlazione	0.921
 Jensen Alpha/Beta	-1.91 / 0.961
Registrato in	AT BE BH CH DE ES FR GB IE LI LU NL ZA
2 
Soltanto se non è stata riscossa alcuna commissione di emissione.