CMB Monaco

PRIVATE BANKING

Assets Management Mandate
Funds Management Mandate
“Plus” Management Mandate
Mandat “Allocation Evolutive”

Assets Management Mandate

Line of Management

The mandate is a discretionary mandate for personalized assets management that invests mainly in moveable securities quoted on the regulated markets.

Forwarded transactions, the operations of purchase/sale without covert, leverage operations and the use of financial instruments having speculative aims are excluded.

Financial objectives

The management mandate is suitable for requirements individuated together with the mandant Client. It considers time constraints, the propensity to risk and client’s knowledge in the matter.

The mandate contemplates three kinds of management profiles featuring levels of dynamism defined through precise assets investment. Management concerns a range of diversified products (shares, bonds, liquidity) based on the chosen profile and market opportunities.

Investments in shares or in other securities cannot exceed 20% of managed assets for a conservative profile and 60% for a balanced profile. Dynamic profile can invest100%of managed assets.

Style of management – Method of investment

The portfolio is managed in an active way. It tries to generate capital gains according to the long-term investment profile and controls the risks connected to the investments chosen and to the markets.

Shares

Investment strategy is related to a specific geographic allocation and a sectorial allocation based upon the analysis of the market conditions and the economic situation.

Securities are chosen by following a fundamental and technical valorisation approach in order to individuate investments with the double aim of price and time.

Bonds

Investment policy is elaborated after analysing the economic situation and market conditions, which determine interest rate forecasts. The choice of bond investments is mainly oriented towards Government issues or assimilated bonds and allows the quantitative and qualitative positioning on the curve of rates.

A minimum part of investment may be destined to issues of private companies. A careful and well-considered choice is made after analysing the financial resources of issuing companies. In this case, also, the choice of securities is based upon yield differential and on the positioning on the curve of rates.

Currencies

Investments made in a different currency from the currency of reference of mandate may not be covered by the risk of foreign exchange within the maximum limit of 30% of the value of portfolio.

Geographic allocation of investments

Investments are made on the main stock exchange markets of developed countries. Bonds are concentrated on the currencies of OECD’s countries.