As of 2023-04-01:
The share of risk assets has been increased from 40% to 48%, the share of developed markets has been increased, respectively, reducing the share of emerging markets, to limit the risk of fluctuations in developing markets. The share of risk-free assets has been reduced and was expanded to include government, corporate, emerging markets, and high-yield corporate debt in order to increase diversification and yield.
The benchmark consists of a basket of risky assets (equities):
- 40.8% MSCI World Daily Net Total Return EUR Index
- 7.2% MSCI EM Daily Net Total Return EUR Index.
Less risky assets (debt securities):
- 15,6 % Bloomberg Euro Aggregate Treasury Total Return Value Unhedged EUR Index
- 20,8 % Bloomberg Euro-Aggregate Corporate Total Return Value Unhedged EUR Index
- 10,4% Bloomberg EM USD Sov + Quasi-Sov Total Return Value Hedged EUR Index
- 5,2% Bloomberg Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
From 2017-06-01 to 2023-03-31:
the expired EFFAS Bond Indices Euro Govt 3-5 Yr index has been changed to Bloomberg Barclays Series-E Euro Govt 3-5 Yr Bond Index.
The benchmark consisted of a basket of risky assets (equities):
- 28% MSCI World Index
- 12% MSCI Emerging markets Index.
Less risky assets (debt securities):
- 60% Bloomberg Barclays Series-E Euro Govt 3-5 Yr Bond Index.
From 2013-06-01 to 2017-05-31:
The share of risk assets has been reduced from 50% to 40% and the duration of the government bond index has been increased.
The benchmark consisted of a basket of risky assets (equities):
- 28% MSCI World Index
- 12% MSCI Emerging markets Index.
Less risky assets (debt securities):
- 60% EFFAS Bond Indices Euro Govt 3-5 Yr index.
From 2004-10-26 to 2013-05-31:
The benchmark consisted of a basket of risky assets (equities):
- 20% MSCI World Index
- 20 % MSCI Europe index
- 10% MSCI Emerging markets.
Less risky assets (debt securities):
50% EFFAS Bond Indices Euro Govt 1-3 Yr index.
