Cobas LUX SICAV - Cobas Large Cap Fund P Acc EUR/  LU1372006947  /

The Sub-Fund seeks to provide principal preservation and long term capital appreciation by offering an exposure to Global Equities. There is however no guarantee that the Sub-Fund will achieve its investment objective. The Sub-Fund is actively managed. The benchmark index MSCI Europe Total Net Return is used for comparison purposes only. The Sub-Fund can deviate significantly from the benchmark index. The Sub-Fund normally invests in stocks of companies with, in the investment manager's opinion, a sustainable competitive advantage. Consistent with preserving principal, the investment manager intends to select investments that, in its opinion, have low downside risk and high upside potential. The Investment Manager intends to purchase securities that trade at a discount to their calculated intrinsic value, thus providing a margin of safety to the investment. The Sub-Fund will mainly invest in worldwide equities and equity related securities (such as ADR, GDR, preferred stocks) of companies of any market capitalization. The choice of investments will neither be limited by geographical area (including emerging markets), nor by economic sector, nor in terms of market capitalization, nor currencies in which investments will be denominated. However, depending on financial market conditions, a particular focus can be placed in a single country (or some countries, as OECD countries) and/or in a single currency and/or in a single economic sector.

The Sub-Fund seeks to provide principal preservation and long term capital appreciation by offering an exposure to Global Equities. There is however no guarantee that the Sub-Fund will achieve its investment objective. The Sub-Fund is actively managed. The benchmark index MSCI Europe Total Net Return is used for comparison purposes only. The Sub-Fund can deviate significantly from the benchmark index.