Interfund BTPs 1-10 A

The fund, expressed in EURO, aims at providing medium term positive returns by investing in debt securities whose issuers comply with Environmental, Social and Governance ("ESG") criteria. The sub-fund invests at least 50% of its net assets in Euro denominated debt securities issued by Euro-Area governments with high credit spreads. The interest rate risk deriving by the investment is hedged in full or in part. A high credit spread usually implies a lower credit rating. The Investment Manager will not rely only on the Country credit rating and credit spread to select the sovereign debt securities, it will also analyse quantitative and qualitative indicators. The sub-fund may invest in non-investment grade securities up to 30% of its net asset value.