# Performance, Portfolio Breakdowns and Net Asset information as at: 30-Nov-2022. All other data as at: 07-Dec-2022.
## Investors should read the Key Investor Information Document and Prospectus prior to investing.
| TOP HOLDINGS (%) |  |
| --- | --- |
| NOVO NORDISK A/S | 2.52 |
| ASTRAZENECA PLC | 2.29 |
| TOTALENERGIES SE | 2.10 |
| DSV A/S | 2.08 |
| LOREAL SA | 2.05 |
| COMPASS GROUP PLC | 1.93 |
| LVMH MOET HENNESSY LOUIS VUITTON SE | 1.86 |
| LINDE PLC | 1.86 |
| LONZA GROUP AG | 1.85 |
| RELX PLC | 1.75 |
| Total of Portfolio20.29 Holdings subject to change |

Share Class performance displayed in Euro. Source: BlackRock. Performance is show on a net asset value basis, with gross income reinvested. Past performance is not a guide to future performance
Key Risks: 
The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The strategies utilised by the Fund involve the use of derivatives to facilitate certain investment management techniques including the establishment of both 'long' and 'synthetic short' positions and creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Funds. Investors in this fund should understand that the Fund is not guaranteed to produce a positive return and as an absolute return product, performance may not move in line with general stock market trends as both positive and negative share movements affect the overall value of the fund. The Manager employs a risk management process to oversee and manage derivative exposure within the Fund. The Fund may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of the fund.
Share Class performance is calculated on a Net Asset Value (NAV) basis, net of fees in the dealing currency specified and do not include sales charge or taxes. Returns assume reinvestment of any distributions. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product.
| SECTOR BREAKDOWN (%) |
| --- |
|  | Long | Short | Net |
| Health Care | 7.35 | -0.87 | 6.48 |
| Energy | 4.63 | 0.00 | 4.63 |
| Materials | 4.10 | -1.95 | 2.16 |
| Industrials | 9.32 | -7.21 | 2.10 |
| Consumer Staples | 5.63 | -3.86 | 1.78 |
| Information Technology | 0.85 | -0.69 | 0.16 |
| Consumer Discretionary | 4.82 | -5.15 | -0.33 |
| Financials | 3.22 | -3.99 | -0.77 |
| Real Estate | 0.00 | -0.90 | -0.90 |
| Utilities | 0.00 | -1.26 | -1.26 |
| Communication | 0.00 | -3.74 | -3.74 |

Translation (ENIT, 2022-11-30):
# Salvo altrimenti indicato, Rendimento, Ripartizioni del portafoglio e informazioni sul Patrimonio netto si riferiscono al: 30/11/2022. Tutti gli altri dati al 07/12/2022.
## Riservato a Clienti professionali e Investitori qualificati. Gli investitori sono tenuti a leggere il Documento contenente le informazioni chiave per gli investitori e il Prospetto prima dell’investimento.
| LE 10 PRINCIPALI POSIZIONI IN PORTAFOGLIO |
| --- |
| NOVO NORDISK A/S | 2,52 |
| ASTRAZENECA PLC | 2,29 |
| TOTALENERGIES SE | 2,10 |
| DSV A/S | 2,08 |
| LOREAL SA | 2,05 |
| COMPASS GROUP PLC | 1,93 |
| LVMH MOET HENNESSY LOUIS VUITTON SE | 1,86 |
| LINDE PLC | 1,86 |
| LONZA GROUP AG | 1,85 |
| RELX PLC | 1,75 |
|  | 20,29 |
| Posizioni soggette a modifiche |

I rendimenti passati non sono indicativi di quelli futuri. Tutti i dati di performance mostrati sono nella valuta del Fondo ed includono i dividendi reinvestiti e sono al netto delle spese di gestione. I prezzi di vendita ed altre commissioni, tasse ed altri costi rilevanti pagati dall’investitore non sono inclusi nei calcoli.
Il rendimento della Categoria di Azioni è calcolato sulla base del Valore patrimoniale netto (NAV), con reinvestimento dei redditi, in EUR, al netto delle commissioni. Rendimento del benchmark indicato in EUR. I rendimenti non tengono conto del regime di tassazione applicabile agli investitori.
Rischi chiave: Il fondo investe una quota ingente di attivi denominati in altre valute; di conseguenza, le variazioni che intervengono sul tasso di cambio incideranno sul valore dell'investimento.
| RIPARTIZIONE PER SETTORE (%) |
| --- |
|  | Lungo/a | Corto/a | Netto |
| Salute | 7,35 | -0,87 | 6,48 |
| Energia | 4,63 | 0,00 | 4,63 |
| Materiali | 4,10 | -1,95 | 2,16 |
| Industriali | 9,32 | -7,21 | 2,10 |
| Generi di largo consumo | 5,63 | -3,86 | 1,78 |
| IT | 0,85 | -0,69 | 0,16 |
| Consumi Discrezionali | 4,82 | -5,15 | -0,33 |
| Finanziari | 3,22 | -3,99 | -0,77 |
| Immobili | 0,00 | -0,90 | -0,90 |
| Imprese di servizi di pubblica utilità | 0,00 | -1,26 | -1,26 |
| Comunicazione | 0,00 | -3,74 | -3,74 |