Investment philosophy

The title selection process for the actively managed fund focuses on Asia (including Australia/ New Zealand but ex-China), following the established principles of value investing, i.e. to buy a stock for much less than what it's worth, with a margin of safety. The intrinsic value is determined for every title following a thorough quantitative analysis and layered with qualitative analysis. This is reinforced with insights based on research/ knowledge from local partners. The margin of safety is applied for every stock and by adequate diversification. The fund does not aim to manage for currency risks given the wide basket of possible currencies in the portfolio. The MSCI AC Asia Pacific NR (EUR) is used as a comparative index. The special asset does not intend to recreate the index, but rather aims for absolute value development that is independent of the index.

Announcement: Amendment to the General Terms and Conditions of Investment, April 2025