OVERVIEW

Euro Bond is a bond fund that invests in the European credit market, following a bottom-up approach. It offers an efficient solution for investors seeking exposure to European bonds, providing a balanced relationship between expected returns and risk control.

STRATEGY AND OBJECTIVES

The investment strategy is based on a thorough issuer selection process, involving in-depth analysis of individual companies with the goal of identifying the most compelling opportunities to build portfolios characterized by high credit quality and low volatility.
The main management risks — particularly those related to interest rates and the credit quality of issuers — are constantly monitored.
For more than 10 years, the management team has focused on three segments with attractive medium- to long-term potential:

1. High-yield credit
2. Perpetual hybrid credit issued by large industrial groups
3. 3. Financial credit, particularly subordinated bonds and CoCos

The portfolio features the following characteristics:

• Approximately 100–120 issuers, each generally accounting for between 0.5% and 2% of NAV
• Full currency exposure hedging
• An average rating between BB- and BBB+
• A duration of less than 3 years

The Fund complies with Article 8 of the EU Regulation 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).
Banor SICAV Euro Bond supports the Italian Committee for UNICEF Foundation ETS. The Foundation does not promote any product or service. Up to 40% of the management fees received by the Investment Manager will be donated to UNICEF. Further information about the donation, including the actual amount, will be available in the annual report.

The Fund aims to optimize the performance of a portfolio that efficiently combines short-duration instruments, selecting among high-yield bonds, perpetual hybrids issued by industrial companies, and financial subordinated instruments, while maintaining a level of volatility below the market average.

Level risk

Marketing communication. Please consult the Prospectus and the Key Information Document (KID) before making a final investment decision, which are available on the website banorsicav.com and at the placement agents also in paper form. The Prospectus and the KID are available in English. A summary of investors’ rights is available in English at manco.altumgroup.com. Returns are shown net of expenses charged to the sub-fund and before tax. Past returns are not indicative of future returns. The investment concerns the acquisition of shares in the Sub-Fund and not a specific underlying asset which remains the property of the Sub-Fund and involves a component of risk; consequently, the capital originally invested may not be recovered in full or in part. Exchange rate fluctuations may affect the value of the investment and costs when expressed in a currency other than the investor’s reference currency. Information on the specifics of the Sub-Fund and the general sustainability aspects (ESG) pursuant to Regulation (EU) 2019/2088 can be found at banorsicav.com/docs/esg-disclosures/ESG_Analysis_Banor_Sicav.pdf and in the Prospectus. In the case of marketing in countries other than the country of origin, the manager has the right to terminate the marketing arrangements in accordance with the notification withdrawal process provided for in Directive 2009/65/EC.