Azvalor Lux SICAV - AZVALOR BLUE CHIPS R/  LU1651854041  /

The Sub-Fund is a feeder sub-fund. The Feeder Fund is actively managed, being invested at least for 85% of its assets in units of the actively managed Master Fund (AZVALOR BLUE CHIPS, FI) which qualifies as a "master UCITS". The objective of this Sub-Fund is to achieve capital appreciation through investment in the Master Fund. The Master Fund is a collective investment fund, established and existing under the laws of Spain, registered with the Spanish supervisory authority Comisión Nacional del Mercado de Valores (CNMV) under registration number 5112. It was established on 27th January, 2017 and is regulated and authorized by the CNMV as a UCITS fund. The benchmark mentioned below in the Investment objective and policy of the Master Fund does not necessarily represent the investment universe or a constraint for the portfolio allocation of the Manager of the Master Fund. The investment objective of the Master Fund is to ensure sustained profitability over time, by applying a value investing philosophy selecting undervalued assets with high upside potential. At least 75% of total exposure shall be in equities from all sectors, investing over 75% of exposure to equities in large caps (3 billion euro minimum), and the rest in small and mid-caps. Investments shall be mainly in OECD issuers/markets, and up to 35% of total exposure may be invested in emerging issuers/markets. Geographical or sectoral concentration may temporarily occur. Currency risk shall be 0-100% of total exposure.

The Sub-Fund is a feeder sub-fund. The Feeder Fund is actively managed, being invested at least for 85% of its assets in units of the actively managed Master Fund (AZVALOR BLUE CHIPS, FI) which qualifies as a "master UCITS". The objective of this Sub-Fund is to achieve capital appreciation through investment in the Master Fund.