European Bonds - UCITS III Fund

ISIN : Part A: LU0284393930
Part I: LU0284393773
Part B: LU0392098371

The inception of the fund :

04/05/2007, 05/01/2009 (B Units)

PROMOTERS : Leonardo SGR

MANAGERS : Mario MOSCHETTA

PHILOSOPHY :
All industrialized countries are likely to enter a recession in the next quarters. In October the Fed cut rates by 50 bps(now official rates are at 1%) and put the market on notice that further cuts may arrive soon. Economic statistics have come out very weak. In the US, October consumer confidence collapsed, the labour market has remained poor and Q3 GDP growth was negative. The drop in GDP growth largely reflected the plunge in household spending, which represents almost three quarters of the economy.
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Aggregate perf.

at the 29/07/2010

Since the

01/01/10

1 month

3 month

6 month

1 year

5 year

Since the creation**

2009

Leonardo European Bond Opportunities (B Unit)

1,46 %

0,07 %

0,04 %

1,19 %

2,41 %

-- %

8,92 %

7,35 %

Leonardo European Bond Opportunities (I Unit)

1,85 %

0,14 %

0,20 %

1,52 %

3,08 %

-- %

10,03 %

8,14 %

Indice Composite*

1,01 %

0,13 %

0,41 %

0,86 %

1,89 %

-- %

4,10 %

3,08 %

* JP Morgan 3M Euro Cash + 75 bps

** Unit B created on 05/01/2008

« The last performances are not a reliable indicator of the future performances. »
 

OBJECTIVES
Stable rate of return

 

ASSET CLASSES
European Fixed Income Securities

  

TARGET
For investors seeking exposure to European Fixed Income Instruments.

 

PERFORMANCES
Part B launched on 4 January 2009
2007: 2.0% (part I launched 06/05/2007)