Monocle Fund SICAV-Mon.Fd.M EUR/  LU1116043040  /

The Management Company implements discretionary, flexible and diversified management. The Fund will invest mainly in the fixed income markets and to a lesser extent in the equity markets, while specifying that equity exposure may not exceed 49% of its net assets. Depending on the market situation and in the interest of the holders, the share allocation may be reduced to 0%. Total exposure to fixed income products may be up to 100% of net assets, but not less than 51%. The Fund is a patrimonial fund generally invested for the most part in products with short maturity rates in order to preserve capital regardless of market configurations. The management company seeks to improve the Fund"s performance by adding to the bond portion outlined above a direct equity portfolio selected on the basis of an estimate of their intrinsic value compared to the market value. These direct lines will be relatively concentrated, to allow each one to individually have a substantial impact on overall performance. Other more short-term management methods may be used on an ancillary basis, including the use of futures or options, either to limit the sensitivity of the portfolio, or to tactically enhance exposure. The Fund may also invest in fund units up to a maximum of 10% of its net assets.

The Management Company implements discretionary, flexible and diversified management. The Fund will invest mainly in the fixed income markets and to a lesser extent in the equity markets, while specifying that equity exposure may not exceed 49% of its net assets. Depending on the market situation and in the interest of the holders, the share allocation may be reduced to 0%. Total exposure to fixed income products may be up to 100% of net assets, but not less than 51%.