Activa High Yield Fund
Investment Strategy

Activa High-Yield Fund is a Mutual Fund within the meaning of Art. 5, para. 2 of LACISOUCI, established and entered in the Bulgarian register of fund management companies and the mutual funds managed by them, under Ordinance for entry No. 1241 of 05.10.2007 under number 05-1378. The management company "Activa Asset Management" JSC is received permission for organization and management of Mutual Fund No 1234 from 26.09.2007 by FSC.
The main objective of Activa High-Yield Fund is to produce risk adjusted returns to its stakeholders by realizing the maximum potential income while ensuring moderate risk exposure and taking the required measures to provide liquidity to its managed investments.

Investments structure
The Fund invests mainly in securities traded on the regulated markets in Bulgaria, incl. equities, debt securities and fixed income instruments. The Mutual Fund's investment strategy envisages the realization of equity capital gains on securities, dividend income, as well as current income from debt securities and other financial instruments. Active asset management strategy is employed in order to achieve Activa’s investment goals.

Profitability and risk management
The main objective of Activa High-Yield is to ensure long-term sustainable growth in the value of its assets under management by realizing the maximum potential income while taking moderate to high risk and providing liquidity to the investments its stakeholders. Exposures to debt securities and fixed income instruments ensure liquidity in times of market turmoil.
Activa Asset Management JSC strictly monitors the risk indicators of the portfolio, observing pre-set threshold levels. There is no certainty that Activa High-Yield Fund will achieve its investment goals.

Potential investors in the fund
The main group of investors, targeted by the Fund's activities, are investors with above-average income, with a good investment culture and medium to high risk tolerance. Furthermore, investors who would like to have an exposure to capital markets but would have the sufficient time to dedicate and resources to perform individual assets due diligence and research. The Fund offers them the opportunity to manage their investments while retaining the opportunity to generate higher returns.
The investment products offered by Activa High-Yield Fund are intended for individuals (citizens, companies, institutions) who:
• are prepared to take moderate to high investment risk in order to achieve higher returns;
• want to have safe and rapid liquidity without compromising the investment income;
• are ready to invest in the long-term;
• want to diversify the risk of their own portfolio;
• want their money to be managed by financial market professionals.
Activa High-Yield Fund is suitable for Bulgarian as well as foreign individuals, companies and institutions wishing to invest their funds in a diversified portfolio of stocks and bonds, with medium risk and ability to achieve higher return on invested capital.

We would like to warn you that the previous results of the fund do not necessarily have any relation with the future results, and the value of the investment and profit might decrease. There is a risk that investors might not be able to recover all of the invested funds. The investments in the fund are not secured by a guarantee fund created by the government or by any other type of guarantee.
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