QUERCUS Balkans and Turkey

Equity product. The objective of this subfund is the long-term dynamic growth of the subfund's assets’ value per unit, exceeding the rate of return reflected by its benchmark, which describes a price performance of shares listed on the markets referred to below.

The risk level of investing in the subfund is high.

The subfund pursues its investment policy by investing assets mainly in the shares of companies listed on the stock exchanges in:
•    Turkey (model-based 50%),
•    Greece (30%),
•    Romania and Bulgaria (20%).

These markets, offer huge long-term growth potential due to the dynamic economic development in Turkey and the Balkan states, as well as ongoing convergence processes.

The subfund may also invest in the shares of companies listed on other foreign markets, including markets of the New Europe.

The share of equities ranges from 50% to 100% of the subfund's assets.

The subfund may be used to achieve high rates of return during good market conditions in the Turkish market and the Balkan Peninsula markets, or as a component of a diversified investment portfolio customised to the Investor’s investment profile. Please note that the subfund's investment performance is not expected to be highly correlated with market conditions on the Warsaw Stock Exchange, which gives the Investors an opportunity to better diversify their equity portfolios.

Benchmark: 50% ISE (ISE100) +30% ATX (ATHEX Composite) +15% BET +5% SOFIX