PC NMS October 2012 clean version CSSF 3010 pour VISA FINAL

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SECTION II - Description of the Sub-Funds 46
1. EQUITY FUNDS NEW MILLENNIUM Euro Equities Investment objective The aim of the Sub-Fund is to provide real capital growth deriving from the economic development of the countries in which it invests. Investment policy The net assets of this Sub-Fund are invested in transferable securities such as shares, convertible bonds and warrants on transferable securities issued mainly by large-cap companies, denominated in Euro and included in the main European indexes. The Sub-Fund may also invest, in a residual way, in debt securities that can be assimilated to money market securities, with a maximum duration of six months. The use of financial derivatives instruments for investment purposes is allowed on the condition that the global exposure, calculated through the “commitment approach", does not at any moment exceed 50% of the Sub-Fund’s net asset value. The expected leverage (calculated as a sum of notional) is not expected to exceed 100% while the expected leverage (calculated through the Commitment approach, as defined under ESMA guidelines 10/788) is not expected to exceed 50%. Higher level of leverage may occur under certain circumstances. As an exception to the investment restrictions contained in the main part of this prospectus, the Sub-Fund will not invest more than 10% of its net assets in UCITS and/or UCIs. Main risk factors The main investment risks the Sub-Fund is exposed to are: Reference Portfolio for Relative VaR calculation • equity risk • warrants risk • derivatives risk For a detailed analysis of the risks please refer to paragraph 6 “Risk factors”. DJ Eurostoxx 50. Profile of the typical investor The Sub-Fund suits investors with a high risk profile and a medium-long term investment horizon, who seek to increase their capital by investing in equity securities. Sub-Fund Co-Manager BANCA FINNAT EURAMERICA S.P.A. Valuation currency EURO Valuation day Every bank business day in Luxembourg. 47
Page 1 and 2: PROSPECTUS OCTOBER 2012 The latest
Page 3 and 4: SECTION II - Description of the Sub
Page 5 and 6: SECTION I - GENERAL PROVISIONS 1. M
Page 7 and 8: Auditor PricewaterhouseCoopers Sàr
Page 9 and 10: The Shares are available through th
Page 11 and 12: exercise certain shareholder rights
Page 13 and 14: Interest rate risk The value of the
Page 15 and 16: Each Sub-Fund, where it is clearly
Page 17 and 18: exchange in any Member State of the
Page 19 and 20: entity which is dedicated to the fi
Page 21 and 22: value of any Sub-Fund in such secur
Page 23 and 24: C. The Fund will not purchase or se
Page 25 and 26: If the limits referred into paragra
Page 27 and 28: Q7 Fund Management AG is an Investm
Page 29 and 30: - GAV of the Sub-Fund is above HWM
Page 31 and 32: 15. CENTRAL ADMINISTRATION State St
Page 33 and 34: (e) the value of each position in e
Page 35 and 36: d. whenever exchange or capital mov
Page 37 and 38: The Fund does not allow practices r
Page 39 and 40: 21. DISTRIBUTION IN ITALY, SAVINGS
Page 41 and 42: 22. TAX CONSIDERATIONS Taxation of
Page 43 and 44: 24. GENERAL MEETINGS OF SHAREHOLDER
Page 45: Financial notices and publications
Page 49 and 50: NEW MILLENNIUM Global Equities (Glo
Page 51 and 52: 2. BOND FUNDS NEW MILLENNIUM Euro B
Page 53 and 54: NEW MILLENNIUM Augustum High Qualit
Page 55 and 56: NEW MILLENNIUM Inflation Linked Bon
Page 57 and 58: NEW MILLENNIUM Large Europe Corpora
Page 59 and 60: NEW MILLENNIUM Augustum Corporate B
Page 61 and 62: New Millennium Augustum Italian Div
Page 63 and 64: 3. BALANCED AND FLEXIBLE FUNDS NEW
Page 65 and 66: NEW MILLENNIUM Total Return Flexibl
Page 67 and 68: NEW MILLENNIUM Q7 Globalflex Invest
Page 69 and 70: NEW MILLENNIUM Q7 Active Equities I

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