Sycomore L/S Opportunities R Cap EUR

The aim of the fund is to achieve an annualised return in excess of the capitalised ESTER index over a minimum investment period of five (5) years through discretionary management ranging from an opportunistic exposure to the equity or fixed-income markets, to a negative correlation to equity markets. The investment strategy is based on a combination of long and short positions on global equities, within the net assets' overall equity exposure ranging from -50% to +150%, with the net assets remaining, on a constant basis, at least 75% invested in instruments qualifying for the French personal equity savings plans (PEA). The FCP may be exposed to the following positions: (1) Long positions on international equities that the investment team considers to be undervalued by the market, directly or through financial futures instruments traded over the counter (CFDs), or on regulated futures markets, or through UCITS offering exposure to these same equity markets. The net assets' positive equity exposure may vary from 0% to 150%, thus enabling a potential 50% overexposure. (2) Short positions on international equities that the investment team considers to be overvalued by the market, through financial futures instruments traded over the counter (CFDs) or on regulated futures markets. The net assets' negative equity exposure may vary from 0% to -50%, thus reflecting the portfolio's 50% negative correlation to the equity markets. (3) Money market positions via money market instruments and/or UCITS targeting money market-like returns. (4) Fixed-income positions via bonds and other debt instruments (excluding credit derivatives), securities rated as High-Yield by S&P, Moody's and Fitch Ratings rating agencies, may not exceed 10% of the net assets. Cumulative direct or indirect exposure to money market or debt instruments is limited to 25% of the net assets, while the fund exposure to UCITS is limited to 10% and the emerging markets exposure is limited to 10%. Up to 25% of net

PIR compliant

No

PEA compliant

Yes

PEA-PME compliant

No