Cervino

A fund in which partners and employees invest.

Available as well for clients interested in investing in a fund with a long-term view, pursuing equities like returns but with lower volatility.

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Pareturn VARIANZA Cervino World Investments

Pareturn VARIANZA Cervino World Investments (“Cervino”) seeks to offer investors a long-term capital appreciation. The fund invests in different markets and types of assets, with a predominance in equities, with exposure ranging between 40% and 100%. Given its long-term horizon, the fund can take on a medium-high market risk in the short term.

Factsheet (I) Factsheet (R) Prospectus KIID (I) KIID (R) Distribution Memo Sustainability Annex

ISIN

LU1860979399

Bloomberg ID

PACWIRB LX

Min. Investment

10 €

Management Fee

1,50%

Performance Fee

Not Applicable

Traspaso Elegible

Yes

ISIN

LU0907323314

Bloomberg ID

PACWIEP LX

Min. Investment

2.000.000 €

Management Fee

0,55%

Performance Fee

10% of return if annual return > Euribor + 6%

Traspaso Elegible

Yes

Investment Manager

Varianza Gestión SGIIC SA

CNMV Registry

250

Custodian / TA

BNP Securities Services

Administrative Agent

BNP Fund Services

Auditor

Deloitte Luxembourg

Return

Selected

Inception

YTD

Pareturn Cervino

173,1%

-3,0%

2,4%

1,2%

10,4%

7,5%

Equities

259,0%

-4,5%

-2,5%

-3,5%

12,5%

7,1%

Benchmark Euribor + 6%

181,6%

0,8%

2,4%

5,0%

10,3%

9,0%

Returns since inception 10/22/2008

CERVINO

Equity*

Benchmark Euribor + 6%

Accumulated

173,1%

259,0%

181,6%

Annualized

6,4%

8,3%

6,6%

* MSCI Daily Net TR Europe

Past performance is not indicative of future results

Risk

Return

Risk/Return since inception 10/22/2008

CERVINO

Equity*

Annual return

6,4%

8,3%

Volatility

12,4%

17,7%

Sharpe Ratio

0,52

0,47

Volatility

Best returns since inception

CERVINO

Equity*

1 Month

19,1%

19,4%

6 Months

36,1%

51,0%

12 Months

62,9%

64,5%

Sharpe Ratio

Worst returns since inception

CERVINO

Equity*

1 Month

-33,9%

-35,0%

6 Months

-29,5%

-28,6%

12 Months

-28,8%

-24,3%

* MSCI Daily Net TR Europe

Past performance is not indicative of future results

Responsible and Sustainble Investing

We draw on our responsible and fiduciary principles and our commitment to constant improvement and have a dynamic view on ESG issues. Cervino promotes companies with strategies that aim at improving their environmental footprint, respect for Human Rights, and companies that are ESG improvers. The fund has a commitment to maintain a VARIANZA Score higher than 50 for 50% of holdings and higher than 50 for the fund.

Article 8 Fund, mínimum 5% Taxonomy Alingment.