A “diversified” UCITS, the SICAV’s investment objective is to seek performance over a recommended investment duration of 5 years minimum, by implementing a discretionary management based especially on anticipating changes on different markets (equities, fixed-income) and on picking financial instruments using financial research of the issuers. Consequently, the SICAV does not have a benchmark indicator. The strategy implemented in order to pick the underlyings in the SICAV is based on the following criteria: lasting growth prospects, a weak competitive position (a virtual technical or commercial monopoly or dominant position), a clear understanding of the business of the company in question, a reasonable price. The SICAV can be invested, depending on market changes, at between 0 and 100% in equities of all capitalisation sizes (maximum of 20% in small caps) and all geographical regions (and up to 100% in non-OECD country equities); between 0 and 100% in bonds, including 20% maximum in convertible bonds, state and/or private issuers of all signature qualities, with a maximum investment of 20% in high-yield bonds and 10% maximum in non-rated bonds; and between 0 and 10% in other UCITS. The SICAV’s direct and indirect exposure to non-OECD countries may be up to 100% of its assets, and its small-cap risk exposure may be up to 20% of its assets. The SICAV may also invest in securities integrating derivatives, financial futures and/or forwards used for both hedging and exposure to equity risks, fixed-income and currencies, and temporary securities purchases or disposals. The portfolio’s consolidated exposure (via securities, UCITS, futures and/or forwards operations) in all markets combined, will be a maximum of 200% More specifically, the UCITS’ consolidated exposure: to equities markets and forex markets will not exceed 100% for each of these risks. to fixed income markets should help maintain the portfolio’s sensitivity* within a range of between -1 and 9. Frequency of valuation: Daily. Centralisation of subscription and redemption orders (S/R): every day at 4 p.m. (NAV-1) at Rothschild & Cie Banque. Order execution: NAV of the next business day. S/R settlement date: NAV + 2 business days. This unit is an accumulation unit. Recommendation: this Fund may not be suitable for investors who plan to withdraw their money less than 5 years after their investment. * Bond sensitivity measures changes in the price of a fixed-rate bond when interest rates change. The longer the residual lifespan of a bond, the higher its sensitivity.