OVHaiLLM/Flipper huggingface dataset:
| Unit | Benchmark | Unit | Benchmark |
| --- | --- | --- | --- |
| Cumulative	Annualized |
|  |  |  | YTD | -17.33% | -18.58% | - | - |
|  |  |  | 1M | -4.66% | -4.17% | - | - |
|  |  |  | 3M | -2.08% | -1.09% | - | - |
|  |  |  | 1Y | -18.00% | -19.08% | - | - |
|  |  |  | 3Y | -13.58% | -12.48% | -4.74% | -4.34% |
|  |  |  | 5Y | -12.24% | -8.01% | -2.57% | -1.65% |
| 01-2001	 Unit | Benchmark | 09-2022 | Since Launch | 100.52% | 185.43% | 3.26% | 4.95% |
| Fund Statistics | 6M | 1Y | 3Y | 5Y | Since Launch |  | Annual Performance | (Calendar Year) Unit | Benchmark |
| Annualized Volatility Unit | 8.71% | 6.82% | 9.37% | 7.49% | 7.42% |  | 2021 | 1.27% | 2.52% |
| Annualized Volatility Benchmark | 8.45% | 6.95% | 9.04% | 7.24% | 7.73% |  | 2020 | 2.05% | 2.80% |
| Tracking Error Volatility | 1.05% | 1.93% | 1.53% | 1.27% | 2.31% |  | 2019 | 9.48% | 12.14% |
| Sharpe Ratio | -2.49 | -2.51 | -0.44 | -0.28 | 0.27 |  | 2018 | -6.24% | -4.77% |
| Information Ratio | -1.04 | 0.56 | -0.26 | -0.72 | -0.73 |  | 2017 | 4.66% | 6.18% |
| Beta | 1.02 | 0.94 | 1.02 | 1.02 | 0.92 |  |  |  |  |

Translation (ENIT, 2022-09-30):
| Quota | Benchmark | Quota | Benchmark |
| --- | --- | --- | --- |
| Cumulati	Annualizzati |
|  |  |  | Da inizio anno | -17,33% | -18,58% | - | - |
|  |  |  | 1 mese | -4,66% | -4,17% | - | - |
|  |  |  | 3 mesi | -2,08% | -1,09% | - | - |
|  |  |  | 1 anno | -18,00% | -19,08% | - | - |
|  |  |  | 3 anni | -13,58% | -12,48% | -4,74% | -4,34% |
|  |  |  | 5 anni | -12,24% | -8,01% | -2,57% | -1,65% |
| 01-2001	 Quota | Benchmark | 09-2022 | Dal lancio | 100,52% | 185,43% | 3,26% | 4,95% |
| Misure statistiche | 6 mesi | 1 anno | 3 anni | 5 anni | Dal lancio |  | Rendimenti annui (anno | solare) Quota | Benchmark |
| Volatilità annualizzata Quota | 8,71% | 6,82% | 9,37% | 7,49% | 7,42% |  | 2021 | 1,27% | 2,52% |
| Volatilità annualizzata Benchmark | 8,45% | 6,95% | 9,04% | 7,24% | 7,73% |  | 2020 | 2,05% | 2,80% |
| Tracking Error Volatility | 1,05% | 1,93% | 1,53% | 1,27% | 2,31% |  | 2019 | 9,48% | 12,14% |
| Sharpe Ratio | -2,49 | -2,51 | -0,44 | -0,28 | 0,27 |  | 2018 | -6,24% | -4,77% |
| Information Ratio | -1,04 | 0,56 | -0,26 | -0,72 | -0,73 |  | 2017 | 4,66% | 6,18% |
| Beta | 1,02 | 0,94 | 1,02 | 1,02 | 0,92 |  |  |  |  |
|  | Weight | Sector | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| EF MONEY MARKET EUR T... | 4.36% | Corporate | 0.41 | - |
| EC MONEY MARKET USD T.. | 1.91% | Corporate | 0.35 | - |
| BKO 0 06/16/23 | 1.58% | Government | 0.69 | AAA |
| AMSSW 6 07/31/25 | 1.44% | Corporate | 2.34 | BB- |
| IPGIM 5 7/8 12/15/25 | 1.35% | Corporate | 2.57 | BB- |
| THYELE 4 3/8 07/15/27... | 1.20% | Corporate | 3.94 | B+ |
| CMACG 7 1/2 01/15/26 | 1.16% | Corporate | 1.98 | BB+ |
| TKAGR 2,875% 02/24 | 1.15% | Corporate | 1.26 | BB- |
| REPSM 4.5 03/25/75 | 1.11% | Corporate | 2.18 | BB+ |
| ISPVIT TV 12/49 | 1.04% | Corporate | 1.91 | - |

Translation (ENIT, 2022-09-30):
|  | Peso | Settore | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| EF MONEY MARKET EUR T... | 4,36% | Corporate | 0,41 | - |
| EC MONEY MARKET USD T.. | 1,91% | Corporate | 0,35 | - |
| BKO 0 06/16/23 | 1,58% | Government | 0,69 | AAA |
| AMSSW 6 07/31/25 | 1,44% | Corporate | 2,34 | BB- |
| IPGIM 5 7/8 12/15/25 | 1,35% | Corporate | 2,57 | BB- |
| THYELE 4 3/8 07/15/27... | 1,20% | Corporate | 3,94 | B+ |
| CMACG 7 1/2 01/15/26 | 1,16% | Corporate | 1,98 | BB+ |
| TKAGR 2,875% 02/24 | 1,15% | Corporate | 1,26 | BB- |
| REPSM 4.5 03/25/75 | 1,11% | Corporate | 2,18 | BB+ |
| ISPVIT TV 12/49 | 1,04% | Corporate | 1,91 | - |
#### Allocation subject to change. Reference in this document to specific securities should not be construed as recommendation to buy or sell these securities.
Performance and Investment Choices
The portfolio remains focused on all short-term debt instruments from emerging sovereign and corporate issuers. The weight of instruments maturing within 5 years is equal to 75% while the debt component maturing beyond 5 years is 25%.
A pro-cyclical approach was maintained throughout the month. In particular, the cash component came in at 9% while the local debt component was kept at 20%. On the currency front, exposure to the US dollar increased also as a result of changes in options.
The Fund put in a positive performance in June. This was due to a recovery in all components of the portfolio, including the basket of emerging currencies.
The central banks remained accommodative and, for the time being, are managing to keep interest rate pressures in check. The commitment to keep short-term rates steady is helping emerging currencies.

Translation (ENIT, 2021-06-30):
### Allocazione soggetta a modifiche. Il riferimento in questo documento a titoli specifici non va interpretato come una raccomandazione per l’acquisto o la vendita di tali titoli.
Performance e scelte d’investimento
Il portafoglio rimane concentrato su tutti gli strumenti di credito a breve termine di emittenti sovrani e corporate emergenti. Il peso degli strumenti che maturano entro i 5 anni è pari al 75% mentre la componente di credito con scadenza oltre i 5 anni è al 25%.
Nel corso del mese è stato mantenuto un approccio pro-ciclico. La componente di liquidità è al 9%, mentre la componente del debito locale è salita al 20%. Sul fronte delle divise l’esposizione al dollaro è salita anche per effetto della variazione delle opzioni call.
Nel mese di giugno la performance del Comparto è stata positiva. Il risultato è da attribuirsi al recupero di tutte le componenti del portafoglio compreso il paniere di divise emergenti.
L’approccio delle banche centrali resta accomodante e, al momento, in grado di contenere le pressioni sui tassi di interesse. L’impegno a mantenere i tassi a breve termine ancorati è di supporto alle divise emergenti.
| Unit | Benchmark | Unit | Benchmark |
| --- | --- | --- | --- |
| Cumulative	Annualized |
|  |  |  | YTD | 4.34% | 5.95% | - | - |
|  |  |  | 1M | 1.37% | 1.35% | - | - |
|  |  |  | 3M | 2.00% | 2.24% | - | - |
|  |  |  | 1Y | 2.73% | 5.07% | - | - |
|  |  |  | 3Y | -3.36% | -1.99% | -1.13% | -0.67% |
|  |  |  | 5Y | -0.89% | 3.52% | -0.18% | 0.69% |
| 01-2001	 Unit | Benchmark | 07-2023 | Since Launch | 120.17% | 239.26% | 3.55% | 5.55% |
| Fund Statistics | 6M | 1Y | 3Y | 5Y | Since Launch |  | Annual Performance | (Calendar Year) Unit | Benchmark |
| Annualized Volatility Unit | 5.01% | 6.89% | 5.95% | 7.89% | 7.35% |  | 2022 | -13.01% | -14.57% |
| Annualized Volatility Benchmark | 3.82% | 6.17% | 5.72% | 7.55% | 7.72% |  | 2021 | 1.27% | 2.52% |
| Tracking Error Volatility | 1.39% | 1.22% | 1.39% | 1.46% | 2.55% |  | 2020 | 2.05% | 2.80% |
| Sharpe Ratio | 0.11 | 0.23 | -0.19 | -0.01 | 0.31 |  | 2019 | 9.48% | 12.14% |
| Information Ratio | -1.75 | -1.91 | -0.33 | -0.60 | -0.79 |  | 2018 | -6.24% | -4.77% |
| Beta | 1.29 | 1.10 | 1.01 | 1.03 | 0.90 |  |  |  |  |

Translation (ENIT, 2023-07-31):
| Quota | Benchmark | Quota | Benchmark |
| --- | --- | --- | --- |
| Cumulati	Annualizzati |
|  |  |  | Da inizio anno | 4,34% | 5,95% | - | - |
|  |  |  | 1 mese | 1,37% | 1,35% | - | - |
|  |  |  | 3 mesi | 2,00% | 2,24% | - | - |
|  |  |  | 1 anno | 2,73% | 5,07% | - | - |
|  |  |  | 3 anni | -3,36% | -1,99% | -1,13% | -0,67% |
|  |  |  | 5 anni | -0,89% | 3,52% | -0,18% | 0,69% |
| 01-2001	 Quota | Benchmark | 07-2023 | Dal lancio | 120,17% | 239,26% | 3,55% | 5,55% |
| Misure statistiche | 6 mesi | 1 anno | 3 anni | 5 anni | Dal lancio |  | Rendimenti annui (anno | solare) Quota | Benchmark |
| Volatilità annualizzata Quota | 5,01% | 6,89% | 5,95% | 7,89% | 7,35% |  | 2022 | -13,01% | -14,57% |
| Volatilità annualizzata Benchmark | 3,82% | 6,17% | 5,72% | 7,55% | 7,72% |  | 2021 | 1,27% | 2,52% |
| Tracking Error Volatility | 1,39% | 1,22% | 1,39% | 1,46% | 2,55% |  | 2020 | 2,05% | 2,80% |
| Sharpe Ratio | 0,11 | 0,23 | -0,19 | -0,01 | 0,31 |  | 2019 | 9,48% | 12,14% |
| Information Ratio | -1,75 | -1,91 | -0,33 | -0,60 | -0,79 |  | 2018 | -6,24% | -4,77% |
| Beta | 1,29 | 1,10 | 1,01 | 1,03 | 0,90 |  |  |  |  |
|  | Weight | Sector | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| BOTS 0 02/14/24 | 6.69% | Government | 0.53 | BBB |
| BOTS 0 11/30/23 | 6.02% | Government | 0.33 | BBB |
| BOTS 0 05/14/24 | 4.74% | Government | 0.77 | BBB |
| BOTS 0 06/14/24 | 4.56% | Government | 0.85 | BBB |
| BUBILL 0 10/18/23 | 4.38% | Government | 0.21 | AAA |
| SGLT 0 08/11/23 | 4.28% | Government | 0.02 | A |
| SGLT 0 01/12/24 | 4.08% | Government | 0.44 | A |
| BTF 0 10/18/23 | 3.86% | Government | 0.21 | AA |
| BOTS 0 07/12/24 | 3.84% | Government | 0.92 | BBB |
| SGLT 0 05/10/24 | 3.49% | Government | 0.76 | A |

Translation (ENIT, 2023-07-31):
|  | Peso | Settore | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| BOTS 0 02/14/24 | 6,69% | Government | 0,53 | BBB |
| BOTS 0 11/30/23 | 6,02% | Government | 0,33 | BBB |
| BOTS 0 05/14/24 | 4,74% | Government | 0,77 | BBB |
| BOTS 0 06/14/24 | 4,56% | Government | 0,85 | BBB |
| BUBILL 0 10/18/23 | 4,38% | Government | 0,21 | AAA |
| SGLT 0 08/11/23 | 4,28% | Government | 0,02 | A |
| SGLT 0 01/12/24 | 4,08% | Government | 0,44 | A |
| BTF 0 10/18/23 | 3,86% | Government | 0,21 | AA |
| BOTS 0 07/12/24 | 3,84% | Government | 0,92 | BBB |
| SGLT 0 05/10/24 | 3,49% | Government | 0,76 | A |
| Unit | Benchmark | Unit | Benchmark |
| --- | --- | --- | --- |
| Cumulative	Annualized |
| YTD | 13.81% | 13.85% | - | - |
| 1M | 1.68% | 2.11% | - | - |
| 3M | 7.25% | 7.39% | - | - |
| 1Y | 34.25% | 35.32% | - | - |
| 3Y | 31.08% | 43.42% | 9.42% | 12.75% |
| 5Y | - | - | - | - |
| Since Launch | 44.32% | 60.78% | 8.80% | 11.54% |

Translation (ENIT, 2021-06-30):
| Quota | Benchmark | Quota | Benchmark |
| --- | --- | --- | --- |
| Cumulati	Annualizzati |
| Da inizio anno | 13,81% | 13,85% | - | - |
| 1 mese | 1,68% | 2,11% | - | - |
| 3 mesi | 7,25% | 7,39% | - | - |
| 1 anno | 34,25% | 35,32% | - | - |
| 3 anni | 31,08% | 43,42% | 9,42% | 12,75% |
| 5 anni | - | - | - | - |
| Dal lancio | 44,32% | 60,78% | 8,80% | 11,54% |
| Unit | Benchmark | Unit | Benchmark |
| --- | --- | --- | --- |
| Cumulative	Annualized |
|  |  |  | YTD | -15.69% | -14.64% | - | - |
|  |  |  | 1M | -3.92% | -3.34% | - | - |
|  |  |  | 3M | -3.32% | -3.08% | - | - |
|  |  |  | 1Y | -16.46% | -15.20% | - | - |
|  |  |  | 3Y | -13.38% | -13.57% | -4.67% | -4.74% |
|  |  |  | 5Y | -9.20% | -8.24% | -1.91% | -1.70% |
| 02-2012	 Unit | Benchmark | 09-2022 | Since Launch | 18.70% | 18.55% | 1.62% | 1.61% |
| Fund Statistics | 6M | 1Y | 3Y | 5Y | Since Launch |  | Annual Performance | (Calendar Year) Unit | Benchmark |
| Annualized Volatility Unit | 7.29% | 6.15% | 5.79% | 4.65% | 3.70% |  | 2021 | -1.10% | -1.01% |
| Annualized Volatility Benchmark | 7.01% | 6.11% | 5.22% | 4.23% | 3.41% |  | 2020 | 4.03% | 2.81% |
| Tracking Error Volatility | 1.39% | 1.14% | 1.25% | 1.06% | 0.92% |  | 2019 | 6.46% | 6.28% |
| Sharpe Ratio | -2.72 | -2.53 | -0.70 | -0.30 | 0.47 |  | 2018 | -2.30% | -1.26% |
| Information Ratio | -1.16 | -1.10 | 0.06 | -0.19 | 0.01 |  | 2017 | 2.59% | 2.43% |
| Beta | 1.02 | 0.99 | 1.09 | 1.07 | 1.05 |  |  |  |  |

Translation (ENIT, 2022-09-30):
| Quota | Benchmark | Quota | Benchmark |
| --- | --- | --- | --- |
| Cumulati	Annualizzati |
|  |  |  | Da inizio anno | -15,69% | -14,64% | - | - |
|  |  |  | 1 mese | -3,92% | -3,34% | - | - |
|  |  |  | 3 mesi | -3,32% | -3,08% | - | - |
|  |  |  | 1 anno | -16,46% | -15,20% | - | - |
|  |  |  | 3 anni | -13,38% | -13,57% | -4,67% | -4,74% |
|  |  |  | 5 anni | -9,20% | -8,24% | -1,91% | -1,70% |
| 02-2012	 Quota | Benchmark | 09-2022 | Dal lancio | 18,70% | 18,55% | 1,62% | 1,61% |
| Misure statistiche | 6 mesi | 1 anno | 3 anni | 5 anni | Dal lancio |  | Rendimenti annui (anno | solare) Quota | Benchmark |
| Volatilità annualizzata Quota | 7,29% | 6,15% | 5,79% | 4,65% | 3,70% |  | 2021 | -1,10% | -1,01% |
| Volatilità annualizzata Benchmark | 7,01% | 6,11% | 5,22% | 4,23% | 3,41% |  | 2020 | 4,03% | 2,81% |
| Tracking Error Volatility | 1,39% | 1,14% | 1,25% | 1,06% | 0,92% |  | 2019 | 6,46% | 6,28% |
| Sharpe Ratio | -2,72 | -2,53 | -0,70 | -0,30 | 0,47 |  | 2018 | -2,30% | -1,26% |
| Information Ratio | -1,16 | -1,10 | 0,06 | -0,19 | 0,01 |  | 2017 | 2,59% | 2,43% |
| Beta | 1,02 | 0,99 | 1,09 | 1,07 | 1,05 |  |  |  |  |
|  | Weight | Sector | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| EF MONEY MARKET EUR T... | 7.54% | Corporate | 0.41 | - |
| FUT EURO-BUND FUTURE ... | 4.98% | - | - | - |
| FUT EURO-BUXL 30Y BND... | 1.74% | - | - | - |
| EU 0.2 06/04/36 | 1.29% | Supranational | 13.03 | AA+ |
| EIS CONTINGENT CONVER... | 1.13% | Corporate | 2.57 | - |
| VOD 3,1% 01/03/79 | 0.81% | Corporate | 0.91 | BB+ |
| EURIZON ABSOLUTE HIGH... | 0.74% | Corporate | 1.53 | - |
| LHNVX 3 PERP | 0.63% | Corporate | 1.62 | BBB- |
| ACHMEA 1 1/2 05/26/27... | 0.60% | Corporate | 4.34 | BBB+ |
| SOCGEN 1 1/8 04/21/26... | 0.59% | Corporate | 2.41 | BBB |

Translation (ENIT, 2022-09-30):
|  | Peso | Settore | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| EF MONEY MARKET EUR T... | 7,54% | Corporate | 0,41 | - |
| FUT EURO-BUND FUTURE ... | 4,98% | - | - | - |
| FUT EURO-BUXL 30Y BND... | 1,74% | - | - | - |
| EU 0.2 06/04/36 | 1,29% | I.S.U.E. | 13,03 | AA+ |
| EIS CONTINGENT CONVER... | 1,13% | Corporate | 2,57 | - |
| VOD 3,1% 01/03/79 | 0,81% | Corporate | 0,91 | BB+ |
| EURIZON ABSOLUTE HIGH... | 0,74% | Corporate | 1,53 | - |
| LHNVX 3 PERP | 0,63% | Corporate | 1,62 | BBB- |
| ACHMEA 1 1/2 05/26/27... | 0,60% | Corporate | 4,34 | BBB+ |
| SOCGEN 1 1/8 04/21/26... | 0,59% | Corporate | 2,41 | BBB |
| Unit | Benchmark | Unit | Benchmark |
| --- | --- | --- | --- |
| Cumulative	Annualized |
|  |  |  | YTD | -9.41% | -10.61% | - | - |
|  |  |  | 1M | 3.47% | 3.62% | - | - |
|  |  |  | 3M | 1.91% | 1.34% | - | - |
|  |  |  | 1Y | -8.48% | -9.84% | - | - |
|  |  |  | 3Y | -4.85% | -5.35% | -1.64% | -1.81% |
|  |  |  | 5Y | - | - | - | - |
| 11-2018	 Unit | Benchmark | 11-2022 | Since Launch | 1.55% | 1.70% | 0.38% | 0.42% |
| Fund Statistics | 6M | 1Y | 3Y | 5Y | Since Launch |  | Annual Performance | (Calendar Year) Unit | Benchmark |
| Annualized Volatility Unit | 9.67% | 7.61% | 10.18% | - | 8.89% |  | 2021 | 2.49% | 2.83% |
| Annualized Volatility Benchmark | 9.61% | 7.53% | 9.82% | - | 8.61% |  | 2020 | 1.71% | 1.94% |
| Tracking Error Volatility | 1.27% | 1.11% | 1.34% | - | 1.21% |  | 2019 | 9.57% | 10.71% |
| Sharpe Ratio | -0.23 | -1.02 | -0.11 | - | 0.10 |  | 2018 | - | - |
| Information Ratio | 1.13 | 1.23 | 0.13 | - | -0.03 |  | 2017 | - | - |
| Beta | 1.00 | 1.00 | 1.03 | - | 1.02 |  |  |  |  |

Translation (ENIT, 2022-11-30):
| Quota | Benchmark | Quota | Benchmark |
| --- | --- | --- | --- |
| Cumulati	Annualizzati |
|  |  |  | Da inizio anno | -9,41% | -10,61% | - | - |
|  |  |  | 1 mese | 3,47% | 3,62% | - | - |
|  |  |  | 3 mesi | 1,91% | 1,34% | - | - |
|  |  |  | 1 anno | -8,48% | -9,84% | - | - |
|  |  |  | 3 anni | -4,85% | -5,35% | -1,64% | -1,81% |
|  |  |  | 5 anni | - | - | - | - |
| 11-2018	 Quota | Benchmark | 11-2022 | Dal lancio | 1,55% | 1,70% | 0,38% | 0,42% |
| Misure statistiche | 6 mesi | 1 anno | 3 anni | 5 anni | Dal lancio |  | Rendimenti annui (anno | solare) Quota | Benchmark |
| Volatilità annualizzata Quota | 9,67% | 7,61% | 10,18% | - | 8,89% |  | 2021 | 2,49% | 2,83% |
| Volatilità annualizzata Benchmark | 9,61% | 7,53% | 9,82% | - | 8,61% |  | 2020 | 1,71% | 1,94% |
| Tracking Error Volatility | 1,27% | 1,11% | 1,34% | - | 1,21% |  | 2019 | 9,57% | 10,71% |
| Sharpe Ratio | -0,23 | -1,02 | -0,11 | - | 0,10 |  | 2018 | - | - |
| Information Ratio | 1,13 | 1,23 | 0,13 | - | -0,03 |  | 2017 | - | - |
| Beta | 1,00 | 1,00 | 1,03 | - | 1,02 |  |  |  |  |
|  | Weight | Sector | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| EF MONEY MARKET EUR T... | 7.62% | Corporate | 0.42 | - |
| UCGIM 2.731 01/15/32 | 1.60% | Corporate | 3.58 | BB+ |
| AMSSW 6 07/31/25 | 1.44% | Corporate | 2.25 | BB- |
| REPSM 4.5 03/25/75 | 1.41% | Corporate | 2.05 | BBB- |
| EIS CONTINGENT CONVER... | 1.36% | Corporate | 2.77 | - |
| TKAGR 2,875% 02/24 | 1.25% | Corporate | 1.14 | BB- |
| ISPIM 3,928% 09/26 | 1.25% | Corporate | 3.42 | BB+ |
| TEREOS 7 1/2 10/30/25... | 1.18% | Corporate | 1.69 | BB- |
| CLNXSM 1 1/2 06/08/28... | 1.14% | Corporate | 5.04 | BB+ |
| TNETBB 3 1/2 03/01/28... | 1.08% | Corporate | 4.51 | BB- |

Translation (ENIT, 2022-11-30):
|  | Peso | Settore | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| EF MONEY MARKET EUR T... | 7,62% | Corporate | 0,42 | - |
| UCGIM 2.731 01/15/32 | 1,60% | Corporate | 3,58 | BB+ |
| AMSSW 6 07/31/25 | 1,44% | Corporate | 2,25 | BB- |
| REPSM 4.5 03/25/75 | 1,41% | Corporate | 2,05 | BBB- |
| EIS CONTINGENT CONVER... | 1,36% | Corporate | 2,77 | - |
| TKAGR 2,875% 02/24 | 1,25% | Corporate | 1,14 | BB- |
| ISPIM 3,928% 09/26 | 1,25% | Corporate | 3,42 | BB+ |
| TEREOS 7 1/2 10/30/25... | 1,18% | Corporate | 1,69 | BB- |
| CLNXSM 1 1/2 06/08/28... | 1,14% | Corporate | 5,04 | BB+ |
| TNETBB 3 1/2 03/01/28... | 1,08% | Corporate | 4,51 | BB- |
### Portfolio
Portfolio	Benchmark
*The Corporate asset class may include issues by local agencies or authorities that are equivalent to Corporate instruments issued in terms of creditworthiness. The Developed Governments asset class may include derivative financial instruments on interbank rates.

Translation (ENIT, 2023-12-31):
### Comparto
Comparto  Benchmark
*L’asset class Corporate può includere emissioni di Agenzie o Autorità locali che per merito di credito sono equiparate agli strumenti emessi dal Corporate. L’asset class Governativi Sviluppati può includere strumenti finanziari derivati su tassi interbancari.
| Unit | Benchmark | Unit | Benchmark |
| --- | --- | --- | --- |
| Cumulative	Annualized |
|  |  |  | YTD | -13.87% | -13.65% | - | - |
|  |  |  | 1M | -1.81% | -1.77% | - | - |
|  |  |  | 3M | 0.94% | 1.09% | - | - |
|  |  |  | 1Y | -13.87% | -13.65% | - | - |
|  |  |  | 3Y | -13.61% | -12.11% | -4.76% | -4.21% |
|  |  |  | 5Y | - | - | - | - |
| 01-2018	 Unit | Benchmark | 12-2022 | Since Launch | -10.86% | -7.55% | -2.31% | -1.58% |
| Fund Statistics | 6M | 1Y | 3Y | 5Y | Since Launch |  | Annual Performance | (Calendar Year) Unit | Benchmark |
| Annualized Volatility Unit | 6.56% | 6.60% | 5.33% | - | 4.32% |  | 2022 | -13.87% | -13.65% |
| Annualized Volatility Benchmark | 6.67% | 6.70% | 5.44% | - | 4.41% |  | 2021 | -1.77% | -0.97% |
| Tracking Error Volatility | 0.55% | 0.85% | 0.59% | - | 0.56% |  | 2020 | 2.11% | 2.77% |
| Sharpe Ratio | -0.73 | -2.03 | -0.80 | - | -0.43 |  | 2019 | 4.25% | 6.24% |
| Information Ratio | -1.99 | -0.27 | -0.93 | - | -1.31 |  | 2018 | - | - |
| Beta | 0.98 | 0.98 | 0.97 | - | 0.97 |  |  |  |  |

Translation (ENIT, 2022-12-31):
| Quota | Benchmark | Quota | Benchmark |
| --- | --- | --- | --- |
| Cumulati	Annualizzati |
|  |  |  | Da inizio anno | -13,87% | -13,65% | - | - |
|  |  |  | 1 mese | -1,81% | -1,77% | - | - |
|  |  |  | 3 mesi | 0,94% | 1,09% | - | - |
|  |  |  | 1 anno | -13,87% | -13,65% | - | - |
|  |  |  | 3 anni | -13,61% | -12,11% | -4,76% | -4,21% |
|  |  |  | 5 anni | - | - | - | - |
| 01-2018	 Quota | Benchmark | 12-2022 | Dal lancio | -10,86% | -7,55% | -2,31% | -1,58% |
| Misure statistiche | 6 mesi | 1 anno | 3 anni | 5 anni | Dal lancio |  | Rendimenti annui (anno | solare) Quota | Benchmark |
| Volatilità annualizzata Quota | 6,56% | 6,60% | 5,33% | - | 4,32% |  | 2022 | -13,87% | -13,65% |
| Volatilità annualizzata Benchmark | 6,67% | 6,70% | 5,44% | - | 4,41% |  | 2021 | -1,77% | -0,97% |
| Tracking Error Volatility | 0,55% | 0,85% | 0,59% | - | 0,56% |  | 2020 | 2,11% | 2,77% |
| Sharpe Ratio | -0,73 | -2,03 | -0,80 | - | -0,43 |  | 2019 | 4,25% | 6,24% |
| Information Ratio | -1,99 | -0,27 | -0,93 | - | -1,31 |  | 2018 | - | - |
| Beta | 0,98 | 0,98 | 0,97 | - | 0,97 |  |  |  |  |
|  | Weight | Sector | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| SABSM 0,875% 07/22/25... | 0.41% | Corporate | 2.41 | BBB |
| GS 1 03/18/33 | 0.40% | Corporate | 9.14 | BBB+ |
| BBVASM 1 3/4 11/26/25... | 0.39% | Corporate | 2.74 | A |
| UCGIM 2.2 07/22/27 | 0.36% | Corporate | 3.24 | BBB- |
| DANBNK 0 1/2 08/27/25... | 0.36% | Corporate | 1.57 | BBB+ |
| FMEGR 1 1/2 05/29/30 | 0.35% | Corporate | 6.59 | BBB |
| PBBGR 0,125% 09/05/24... | 0.35% | Corporate | 1.59 | BBB+ |
| CMARK 1,25% 05/31/24 | 0.34% | Corporate | 1.34 | - |
| ALVGR 3,375% PERP | 0.34% | Corporate | 1.58 | A+ |
| ACAFP 1,75% 03/29 | 0.33% | Corporate | 5.54 | A- |

Translation (ENIT, 2022-12-31):
|  | Peso | Settore | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| SABSM 0,875% 07/22/25... | 0,41% | Corporate | 2,41 | BBB |
| GS 1 03/18/33 | 0,40% | Corporate | 9,14 | BBB+ |
| BBVASM 1 3/4 11/26/25... | 0,39% | Corporate | 2,74 | A |
| UCGIM 2.2 07/22/27 | 0,36% | Corporate | 3,24 | BBB- |
| DANBNK 0 1/2 08/27/25... | 0,36% | Corporate | 1,57 | BBB+ |
| FMEGR 1 1/2 05/29/30 | 0,35% | Corporate | 6,59 | BBB |
| PBBGR 0,125% 09/05/24... | 0,35% | Corporate | 1,59 | BBB+ |
| CMARK 1,25% 05/31/24 | 0,34% | Corporate | 1,34 | - |
| ALVGR 3,375% PERP | 0,34% | Corporate | 1,58 | A+ |
| ACAFP 1,75% 03/29 | 0,33% | Corporate | 5,54 | A- |
|  | Weight | Sector | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| BOTS 0 08/14/23 | 8.25% | Government | 0.69 | BBB |
| SGLT 0 01/13/23 | 6.43% | Government | 0.11 | A |
| SGLT 0 02/10/23 | 6.25% | Government | 0.19 | A |
| BOTS 0 05/31/23 | 5.85% | Government | 0.49 | BBB |
| BOTS 0 01/31/23 | 5.25% | Government | 0.16 | BBB |
| BOTS 0 03/31/23 | 4.70% | Government | 0.32 | BBB |
| BUBILL 0 10/18/23 | 4.58% | Government | 0.86 | AAA |
| SGLT 0 09/08/23 | 4.12% | Government | 0.76 | A |
| BOTS 0 04/28/23 | 3.99% | Government | 0.40 | BBB |
| SGLT 0 04/14/23 | 3.93% | Government | 0.36 | A |

Translation (ENIT, 2022-11-30):
|  | Peso | Settore | Duration | Rating S&P |
| --- | --- | --- | --- | --- |
| BOTS 0 08/14/23 | 8,25% | Government | 0,69 | BBB |
| SGLT 0 01/13/23 | 6,43% | Government | 0,11 | A |
| SGLT 0 02/10/23 | 6,25% | Government | 0,19 | A |
| BOTS 0 05/31/23 | 5,85% | Government | 0,49 | BBB |
| BOTS 0 01/31/23 | 5,25% | Government | 0,16 | BBB |
| BOTS 0 03/31/23 | 4,70% | Government | 0,32 | BBB |
| BUBILL 0 10/18/23 | 4,58% | Government | 0,86 | AAA |
| SGLT 0 09/08/23 | 4,12% | Government | 0,76 | A |
| BOTS 0 04/28/23 | 3,99% | Government | 0,40 | BBB |
| SGLT 0 04/14/23 | 3,93% | Government | 0,36 | A |
### For more information about the risks, you must read the Key Information Document (KID) and the Prospectus.
For more information about the risks as well as the fees and conditions, you must read the Key Information Document (KID) and the Prospectus (please refer in particular to section "1.2.Investment Objective and Risks Factors").
Portfolio Information
Asset Breakdown*
Sector Allocation

Translation (ENIT, 2023-02-28):
#### Per maggiori dettagli in relazione ai rischi derivanti dalla sottoscrizione di questo prodotto si consulti il KID o il Prospetto.
Per ulteriori informazioni sui rischi, sulle commissioni e sulle condizioni, si rimanda al Documento contenente le informazioni chiave (KID) e al Prospetto (si veda in particolare la sezione “1.2. Obiettivi d’investimento e fattori di rischio”).
Portafoglio
Composizione del portafoglio*
Allocazione settoriale