BPI GIF - Iberia R/  LU0292624037  /

The investment objective of the Sub-Fund is to provide investors with longterm capital appreciation, based on risk spreading and future potential growth. The Sub-Fund will mainly invest in equity securities issued by Portuguese and Spanish companies and companies that have their main activities in Portugal and Spain. The target medium annual value of the instruments issued by Portuguese and Spanish companies and companies that have their main activities in Portugal and Spain will be equal or superior to two thirds of the medium net asset value of the Sub-Fund for the same period. Only on occasional situations may the medium annual value of these assets be inferior to two thirds of the medium net asset value of the Sub-Fund. The Sub-Fund will not enter into Securities Financing Transactions ("SFTs"). The Sub-Fund will not enter into total return swaps. To achieve its investment goals, for treasury purposes and/or in case of unfavorable market conditions, the Sub-Fund may also invest in money market instruments and transferable securities on an ancillary basis. The Sub-Fund pursues an actively-managed investment strategy. The Sub-Fund refers to the following benchmark: 80% IBEX35TR (total return) and 20% PSI20TR (total return) (the "Benchmark"). The Benchmark is indicated for information purposes only, and the investment manager does not intend to track it or to limit the Sub-Fund's portfolio to the constituents of the Benchmark. There are no restrictions on the extent to which the Sub-Fund's portfolio and performance may deviate from the ones of the Benchmark.

The investment objective of the Sub-Fund is to provide investors with longterm capital appreciation, based on risk spreading and future potential growth. The Sub-Fund will mainly invest in equity securities issued by Portuguese and Spanish companies and companies that have their main activities in Portugal and Spain.