BNP Paribas Moné Etat I

The fund aims to achieve a performance equal to that of the Euro short-term rate (€STR) capitalized index, net of operating and management fees, over a minimum investment period of one week. The investment policy is based on active management, with the benchmark index used solely for comparison purposes.

The investment process follows a top-down approach, consisting of macroeconomic analysis, tactical asset allocation by instrument type, sector and issuer selection, and bond selection and yield curve positioning. The portfolio has a Weighted Average Maturity (WAM) limited to 6 months in terms of interest rate risk and a Weighted Average Life (WAL) limited to 1 year in terms of credit risk. The fund primarily invests in tradable debt securities issued or guaranteed by EU member states, their agencies, public institutions, regional or global supranational entities.

The fund may face risks related to interest rate fluctuations, credit quality of the underlying securities, and potential decrease in net asset value due to low market interest rates. The fund manager has the flexibility to select securities based on the investment strategy and constraints, with a focus on maintaining a high-quality portfolio.

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