MERCHBANC FCP - Merchfondo

The objective of the Sub-Fund is to seek long-term capital appreciation in EURO by an active management, which may include some investments that could involve a high risk of return. The Sub-Fund may invest its assets in equities and Equity-Linked Instruments (including but not limited to ADRs, and GDRs) with no limits on any market all over the world and more particularly in OECD countries; therefore, it may invest in different currencies. The Sub-Fund may also invest its assets in fixed income securities with no limits on any market all over the world and more particularly in OECD countries; therefore it may invest in different currencies.