Pareturn GVC Gaesco 300 Places Global Equity Fund I-B EUR Acc

Investment Objective The objective of PARETURN GVC GAESCO 300 PLACES GLOBAL EQUITY FUND will be to invest between 85% and 100% of the Sub-Fund's assets in listed equities all over the world. The Delegate Manager of the Sub-Fund may deviate from these percentages on a temporary basis only. Investment Policy The fund will invest in listed companies that provide services to the global tourist, i.e. the tourist who travels to another country in their tourism activity. Companies might belong to the following sectors: airlines, hotels, airports, railways, rent a car, restaurants, booking companies, cruises, tour operators, payment companies, luxury companies, toll highway companies, or any other type of company that provides products or services to the global tourist. In the investment process we will take into the account all the companies that provide services to some or all of the 300 places in the world most visited by the global tourist. Some of these places might change over time, but most of them will remain the same. The rest of the Sub-Fund's assets will be invested in money market instruments or short term investment grade bonds with a maturity of no more than two years. Derivative Policy No derivatives will be used. Benchmark The Sub-Fund is actively managed and uses STOXX GLOBAL 1800 Travel & Leisure Index for performance comparison only. This means that the deviation of the Sub-Fund to the STOXX GLOBAL 1800 Travel & Leisure Index may be significant. Investment Horizon Recommendation: The Sub-Fund may not be suitable for investors seeking to invest in less than a minimum of 36 months. Fund Currency Reference currency of the Sub-Fund is EUR. NAV Frequency The Net Asset Value "NAV" of the Sub-Fund will be determined daily (the "Valuation Day"). If this day is a bank holiday in Luxembourg, the NAV will be dated on the next banking business day. Subscription and Redemption The subscription, redemption and conversion requests of shares shall be closed at 2 p.m. (CET) on one Business Day immediately preceding the relevant Valuation Day or if that day is an official public holiday in Luxembourg, on the next business day. The payment of subscriptions shall be made in the reference currency of the Sub-Fund within one business day before the calculation of the applicable Net Asset Value. The payment of redemptions shall be made in the reference currency of the SubFund within the next two (2) business days of the calculation of the applicable Net Asset Value.