As of 2023-04-01:
The share of developed countries equities has been increased, reducing the share of emerging markets and hedging its exchange rate risk to limit the emerging market risk. The less risky assets benchmark was broadened to include government, corporate, emerging markets and high-yield corporate debt in order to increase diversification and yields.
The benchmark consisted of a basket of risky assets (equities):
- 8,5% MSCI World Daily Net Total Return EUR Index
- 1,5% MSCI EM Daily Net Total Return EUR Index
Less risky assets (debt securities):
- 65,0% Bloomberg Series-E Euro Govt 3-5 Yr Bond Index
- 12,0 % Bloomberg Euro-Aggregate Corporate Total Return Value Unhedged EUR Index
- 9,0% Bloomberg EM USD Sov + Quasi-Sov Total Return Value Hedged EUR Index
- 4,0% Bloomberg Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
From 2019-01-02 to 2023-03-31:
The benchmark consisted of a basket of risky assets (equities):
- 7% MSCI World Daily Net Total Return Index
- 3% MSCI EM Daily Net Total Return Index.
Less risky assets (debt securities):
- 65% Bloomberg Barclays Series-E Euro Govt 3-5 Yr Bond Index
- 20% Bloomberg Barclays Emerging Markets USD Sovereign + Quasi Sovereign Total Return Value Unhedged EUR Index
- 5% Bloomberg Barclays Liquidity Screened Euro High Yield Bond Total Return Value Unhedged EUR Index.
