The fourth edition of the RankiaPro Funds Meeting with Fund Selectors & Fund Buyers in Porto successfully brought together top-tier investment experts to discuss the current economic landscape and share innovative investment strategies. Held at the Porto Palácio Hotel on Thursday, September 17th, the exclusive event featured insights from distinguished professionals, including:
Elena Delfino, Head of Distribution for Southern Europe at Aegon Asset Management
Jaime Pizarro, Sales Manager Portugal at Edmond de Rothschild Asset Management
Adela Cervera, Business Development Manager at Jupiter AM
Fernando Maldonado, Head of Corporate and Business Development at SIA Funds
The meeting kicked off at 9:00 AM with a welcome coffee, providing the attending professionals with an excellent opportunity to network, share perspectives, and discuss their current concerns regarding the markets and the investment industry.
Following the initial networking, the event transitioned into dynamic one-to-few meetings. This format allowed each fund manager to share their specific views on the markets, their investment strategies, and their outlook for the year ahead in a highly interactive environment.
Aegon Asset Management – Aegon High Yield Global Bond Fund
Elena Delfino, Head of Southern Europe at Aegon Asset Management, presented the Aegon High Yield Global Bond Fund.
The Aegon High Yield Global Bond Fund is a high-conviction global credit strategy designed to capture attractive income opportunities across the high yield universe while actively seeking to generate superior risk-adjusted returns. Managed by Aegon's experienced global credit team since 2007, the fund combines deep fundamental research with the flexibility to invest across regions, sectors and issuers, allowing investors to benefit from market inefficiencies often overlooked by traditional benchmark-driven approaches.
As of 31 August 2026, the portfolio offered a yield to maturity of 7,7% in euro terms.
Unlocking income in a yield-starved world. With a yield to maturity of 8.7%, the fund offers investors access to an attractive and diversified source of income, significantly above many traditional fixed income segments.
Go beyond the benchmark. Unlike many global high yield strategies that are heavily concentrated in the US market, the fund actively seeks opportunities across Europe, the UK, North America and selected emerging markets, creating a broader and more diversified opportunity set.
Experienced team, high-conviction ideas. Supported by one of the industry's most established leveraged finance platforms, the portfolio benefits from intensive bottom-up credit research and a disciplined focus on identifying mispriced issuers with compelling return potential.
Built for today's market environment. With a relatively short duration profile of 2.1 years, the strategy seeks to provide attractive income while reducing sensitivity to interest rate volatility, making it a compelling solution for investors looking for both resilience and return potential.
A powerful complement to traditional bond portfolios. The combination of high income, active management and global diversification makes the fund an attractive option for investors seeking to enhance portfolio returns without relying solely on investment grade credit or government bonds.
Jupiter Asset Management – Jupiter Merian World Equity Fund & Jupiter Merian Global Equity Absolute Return
Jupiter is an active asset manager that believes investment excellence requires diverse thinking, creativity, and a relentless drive to seek opportunities.
For over two decades, the Jupiter Systematic Equities team has continually refined its investment process through disciplined research and innovation. At the Rankia Funds Meeting Porto, Adela Cervera presented two complementary applications of this approach: Jupiter Merian Global Equity Absolute Return (GEAR), a market-neutral strategy seeking capital growth while closely controlling risk, and Jupiter Merian World Equity, which seeks asset growth through a well-diversified portfolio of issuers worldwide, without concentrating in any one region, industry or sector.
Both apply the team’s core systematic process, combining disciplined, data-led stock selection with dynamic weighting as market conditions evolve. GEAR applies this within a long-short, market-neutral portfolio, while World Equity uses it to build a diversified global equity allocation.
SIA Asset Management – SIA LTIF Classic Fund | SIA LTIF Natural Resources Fund
Fernando Maldonado, Head of Business and Corporate Development at SIA Asset Management, the independent Swiss asset manager and one of the few Global Value Asset Managers with a track record going back 24 years, presented their SIA LTIF Classic ant the SIA LTIF Natural Resources Funds.
The SIA LTIF Classic Fund invests in Global Equities with a strategic and enhanced quality value approach, risk-adjusted. It focuses on investing in the equity of global companies, long followed and analysed by the Investment Committee at SIA AM, which have high quality, strong, moaty business models that are shielded from competition to a certain extent and which operate in sectors with entry barriers, growth and strong returns, but whose recent performance, for well understood reasons to the IC, allows to buy them at a discount with a clear expectation that the recovery will be a matter of time and execution by their respective management teams. This strategy has delivered very strong results historically with a return in excess of 15% over the last six years.
The SIA LTIF Natural Resources Fund invests also with a strategic value approach in the equity of quality companies that are exposed to the Global Commodities Super Cycle that has recently started playing on the current and future supply demand imbalances of natural resources that lead to stock price appreciation over time. The fund has invested successfully in the equity of oil and gas, metals and mining (such as copper, lithium, uranium, etc) as well as salmon producing companies. The fund has delivered as well very strong profitability with annualised returns in excess of 29% since 2020 when the last Commodities Supercycle started and which is expected to continue to exist for the next decade to come.
The objective of SIA Funds is for its clients to double their invested money every six-seven years, with a 10-12% annualised net return within a long term perspective.
Edmond de Rothschild Asset Management – EdR Fund Big Data, EdR SICAV Millesima 2030 / EdR SICAV Millesima 2032 & EdR SICAV Short Duration Credit
MARKETING COMMUNICATION: This is a marketing communication. Please refer to the UCITS prospectus and the Key Information Documents before making any final investment decision. Edmond de Rothschild Fund Big Data is a sub-fund of the Luxembourg SICAV authorised by the CSSF and authorised for marketing in Austria, Belgium, Switzerland, Germany, Spain, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Norway, Sweden and Portugal.
1. EdR Fund Big Data, a Global Thematic Equity Strategy at the Heart of the Big Data Revolution.
Big Data is the foundation of the AI value chain. AI systems learn, improve, and generate insights through access to vast, high-quality datasets. EdR Fund Big Data seeks to capture the value created by this long-term transformation across a broad range of sectors within infrastructure and data analytics industries as well as Data Users (Non-Tech companies).
The fund stands out for its resilience and adaptability in an uncertain market environment, having achieved a +15.24% net annualized performance since inception (+23.45 YTD)1 on the N-EUR share class LU1244894827 (31/08/2015 - 28/09/2026), with significantly lower drawdowns and volatility than peers, positioning itself as much more than a typical technology fund. It remains particularly attractive for the current environment:
More than a pure tech fund: with c.53% on TMT sectors and less then 12%2 on the Magnificent 7, the portfolio offers investors exposure to the AI revolution with lower mega-cap concentration risk than many pure technology peers.
Prepared for Market Uncertainty: The fund selects companies with robust balance sheets, low leverage, and strong free cash flow generation. This diversified approach provides a solid defense, particularly in an environment where interest rates may stay higher for longer.
Broad Sector Diversification: The portfolio holds key allocations outside pure tech, including Healthcare (17%), Financials (9%), and Industrials (9%)3. This setup allows the fund to capture performance across broader market rotations.
Targeting "Data Users": The strategy actively invests in non-tech companies (Data Users) that harness technology and analytics to drive innovation and gain productivity edges.
Selective Conviction in Software: Overweighted in software, the management team targets undervalued opportunities positioned to monetize artificial intelligence (specifically Agentic AI).
Prudent Semiconductor Exposure: Current exposure is limited for now (around 10%) to potential cyclical slowdowns in AI capital expenditure.
Attractive Valuation & Cash Flow: Trades at a forward P/E ratio of 15.6x (below the MSCI World’s 17.4x) while delivering a strong free-cash-flow yield of 4.6% and avg net debt/EBITDA ratio close to 0 or even negative, as of 31/08/20264.
2. Target Maturity Strategies: EdR SICAV Millesima 2030 / EdR SICAV Millesima 2032
Higher market yields present an opportunistic entry point into short-duration Target Maturity European High Yield strategies, offering some of the most attractive yield levels to date.
EdR SICAV Millesima 2030 currently offers a gross YTM of 5.92% with a 2.6 modified duration1, while EdR SICAV Millesima 2032 provides a gross YTM of 6.34% with a 3.6 modified duration2, as of 28/09/2026.
Here’s some of the key features that distinguish EdR SICAV Millesima franchise:
Emission Quality & Geographic Focus: Invests in senior debt, primarily corporate bonds from developed markets, with zero allocation to perpetual bonds or other instruments that add a real extension risk.
Hard Maturity Rule: Strict guidelines prohibit holding bonds maturing after the target date (e.g., 2030 for EdR SICAV Millesima 2030 & 2032 regarding EdR SICAV Millesima 2032), providing clear yield visibility at entry.
Active "Buy & Manage" Approach: Unlike passive buy-and-hold models, active management allows the team to lock in early gains and navigate credit shocks to prevent defaults.
Liquidity & Flexibility throughout all the fund‘s life: Daily liquidity with no entry or exit fees applied, and open to subscriptions during all the funds’ life.
Proven Track Record: Edmond de Rothschild has launched 14 successful fixed-maturity funds since 2008, apart from dedicated funds and mandates, raising over €5 billion.
3. EdR SICAV Short Duration Credit
An ideal strategy for investors seeking short structural duration aimed at maximizing yield carry, offering an attractive gross YTM of 5.9% in EUR1, as of 28/09/2026.
Laddered "Buy & Manage" Strategy: The portfolio operates on a ladder structure. As bonds mature and pay out, capital is continuously reinvested at least 90% into maturities up to 5 years.
Risk Control & Short Duration: Maintained defensively to limit drawdowns, keeping an average modified duration near 2 years (currently 2.2 years) 2.
Flexible Allocation to maximize carry: Dynamically shifts allocation between High Yield (30%–70%, currently ~55%)2 and Investment Grade (30%–70%, currently ~45%)2, ranking among the best risk-adjusted returns in fixed income.
Broad Diversification: Mitigates individual default risk with exposure spread across 169 issuers2 in 24 countries2.
Yield to Maturity gross of fees on 28/09/2026. For an investment up to the fund’s maturity (in current market conditions, the annual net return could be lower). The return objective is based on the achievement of market assumptions made by the Edmond de Rothschild Group and does not constitute a promise of return. The potential gains may be reduced by the effect of commissions, management fees, taxes or other expenses incurred by the investor.
Front office data at 31/08/2026. The composition of the portfolio may change over time. The investment process described in this document presents several internal limits decided by the portfolio management team. This reflects the current investment process that may change in the future.
[EdR Fund Big Data] Edmond de Rothschild Fund Big Data is a sub-fund of the Luxembourg SICAV authorised by the CSSF and authorised for marketing in Austria, Belgium, Switzerland, Germany, Spain, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Norway, Sweden and Portugal.
[EdR SICAV Millesima 2030 / EdR SICAV Millesima 2032] For EU investors: This document is intended for professional investors only, as defined under MiFID, acting on their own behalf and/or on behalf of third parties on a discretionary basis or who have the capacity to invest a minimum regulatory amount in accordance with the regulations applicable in their country of marketing. Edmond de Rothschild Asset Management (France) declines any liability for the use that may be made of the information contained in this document. EdR SICAV Millesima 2030 and EdR SICAV Millesima 2032 are sub-funds of the French SICAV approved by the AMF and authorized for marketing in France, Belgium, Switzerland, Cyprus, Greece, Spain, Italy, Portugal, Luxembourg and Germany.
[EdR SICAV Short Duration Credit] EdR SICAV Short Duration Credit is a sub-fund of the French SICAV approved by the AMF and authorized for marketing in Belgium, Switzerland, Germany, Spain, France, Italy, Portugal, Austria and Luxembourg.
MAIN INVESTMENT RISKS
[EdR Fund Big Data] Unit A, I and N of this UCI are rated in category 4. The risk indicator rates this fund on a scale of 1 to 7. This indicator is used to assess the level of risk of this product in comparison to other funds and a category 1 rating does not mean that the investment is risk free. In addition, it indicates the likelihood that this product will incur losses in the event of market movements or our inability to pay you. This indicator assumes that you hold the product until the end of the recommended holding period of this fund. The actual risk may be very different if you choose to exit before the end of the recommended holding period of this Fund. The risks outlined below are not exhaustive. Please refer to the prospectus for information on other risks. Risk of capital loss: The UCITS does not guarantee or protect the capital invested; investors may therefore not get back the full amount of their initial capital invested even if they hold their units for the recommended investment period. Risk from investing in small and mid cap companies: Investment in small and medium enterprise may entail greater risk than that generally deriving from investments in larger and better established enterprises. Sub-Funds which invest in smaller companies may fluctuate in value more than other Sub-Funds because of the greater potential volatility of Share prices of smaller companies. Equity risk: The value of a stock may change depending on factors specific to the issuer but also on exogenous, political or economic factors. The SICAV may be exposed to the equity markets either via direct investments in equities and/or via financial contracts and/or UCITS. Fluctuations of the equity markets may lead to substantial variations in the net assets which may have a negative impact on the performance of the SICAV. Investment in specific sectors: Certain Sub-Funds may concentrate their investments in assets belonging to certain specific sectors of the economy and will, therefore, be subject to the risks associated with the concentration of investments in the sectors in question.
[EdR SICAV Millesima 2030 / EdR SICAV Millesima 2032] Unit A and I of this UCI are rated in category 2. The risk indicator scores this mutual fund on a scale of 1 to 7. This indicator makes it possible to assess the level of risk of this product in relation to other UCIs and the mention of a category 1 does not mean that the investment is risk-free. In addition, it indicates the likelihood that this product will incur losses in the event of market movements or if we are unable to pay you. This indicator assumes that you hold the product until the end of the recommended holding period of this mutual fund. The actual risk may be very different if you opt for an exit before the end of the recommended holding period of this mutual fund. The risks described below are not exhaustive: it is up to investors to analyse the risk inherent in each investment and to form their own opinion. Please refer to the prospectus for more details. Risk of capital loss: The sub-fund does not benefit from any guarantee or protection, so it is possible that the capital initially invested will not be fully returned even if the subscribers keep the units for the recommended investment period. Credit risk related to investment in speculative securities: The sub-fund may invest in issues of companies rated in the non-investment grade category by a rating agency (with a rating below BBB- according to Standards & Poor’s or equivalent) or with an equivalent internal rating of the Management Company. These issues are so-called speculative securities for which the risk of default of issuers is higher. This UCITS must therefore be considered as partly speculative and aimed more particularly at investors who are aware of the risks inherent in investing in these securities. For example, the use of «high yield» securities (speculative securities for which the risk of the issuer defaulting is greater) may lead to a greater risk of a decline in the net asset value. Interest rate risk: Exposure to fixed income products (debt securities and money market instruments) makes the sub-fund sensitive to interest rate fluctuations. Interest rate risk translates into a possible fall in the value of the security and therefore in the net asset value of the sub-fund in the event of a change in the yield curve.
[EdR SICAV Short Duration Credit] Unit A and I of this UCI are rated in category 2. The risk indicator scores this mutual fund on a scale of 1 to 7. This indicator makes it possible to assess the level of risk of this product in relation to other UCIs and the mention of a category 1 rating does not mean that the investment is risk free. In addition, it indicates the likelihood that this product will incur losses in the event of market movements or our inability to pay you. This indicator assumes that you hold the product until the end of the recommended holding period of this fund. The actual risk may be very different if you choose to exit before the end of the recommended holding period of this Fund. The risks outlined below are not exhaustive. Please refer to the prospectus for information on other risks. Risk of capital loss: As the fund in this document does not have any guarantee or protection, the capital initially invested might not be restituted in full. Interest rate risk: By holding debt securities and money market instruments, funds are exposed to changes in interest rates. This risk is defined as a rise on interest rates causes a decline in bonds valuation and therefore a fall in of the fund’s NAV. Discretionary management risk: The discretionary management style is based on anticipating the evolution of the various markets (equities, bonds, money market, commodities, currencies). There is a risk that the UCITS may not be invested at all times in the best performing markets. The UCITS' performance may therefore be below the management objective and the decline in its net asset value may lead to negative performance.
[EdR SICAV Millesima 2030 / EdR SICAV Millesima 2032 / EdR SICAV Short Duration Credit] Credit risk: The main risk associated with debt securities and/or money market instruments such as treasury bills (BTFs and BTANs) or short-term marketable securities is that of the issuer’s default, i.e. the non-payment of interest and/or the non-repayment of capital. Credit risk is also linked to the downgrade of an issuer. The attention of the shareholder is drawn to the fact that the net asset value of the sub-fund is likely to vary downwards in the event that a total loss is recorded on a financial instrument following the default of an issuer. The presence of debt securities directly or through UCIs in the portfolio exposes the sub-fund to the effects of changes in credit quality.
[All funds] Warning relating to the risk of inflation: The characteristics of the UCI do not protect the investor from the potential effect of inflation during the period of investment in the UCI. Thus, the amount invested in principal and the possible income from movable property received during the period will not be revalued by the rate of inflation over this same period. Therefore, the real performance of the UCI, i.e. the net performance of the UCI corrected by the inflation rate, could be negative.
DISCLAIMER
September 2026.
[EdR Fund Big Data] Non-contractual document designed for information purposes only. Reproduction or use of its contents is strictly prohibited without the permission of the Edmond de Rothschild Group. The information contained in this document does not constitute an offer or solicitation to trade in any jurisdiction in which such offer or solicitation is unlawful or in which the person making such offer or solicitation is not qualified to act. This document does not constitute and should not be construed as investment, tax or legal advice, nor as a recommendation to buy, sell or continue to hold any investment. The Edmond de Rothschild Group shall not be held liable for any investment or divestment decision taken on the basis of the information contained in this document. The funds presented may not be registered and/or authorized for sale in your country of residence. If you have any doubts about your ability to subscribe to this fund, please contact your professional advisor. The figures, comments, forward looking statements and other information contained in this presentation reflect the Edmond de Rothschild Group’s view of the markets, their development and their regulations, taking into account its expertise, the economic context and the information available to date. They may no longer be relevant on the day the investor reads them. Consequently, the Edmond de Rothschild Group shall not be held responsible for the quality or accuracy of economic information and data obtained from third parties. Any investment involves specific risks. Investors are therefore advised to ensure that any investment is suitable for their personal circumstances by seeking independent advice where appropriate. In addition, investors should read the Key Information Documents (KID) and/or any other document required by local regulations, which is provided prior to any subscription and is available in French and in English on the website www.edmond-de-rothschild.com under the “Fund Center” tab or free of charge on request. A summary of investors’ rights in English and French can be obtained at the following link: www.edmond-de-rothschild.com/media/no2ncu1s/ edram-luxembourg-en-investors-rights.pdf. In Spain, the SICAV is registered at the CNMV under number 229.
[EdR SICAV Millesima 2030 / EdR SICAV Millesima 2032 / EdR SICAV Short Duration Credit] This document has no contractual value, it is designed exclusively for information purposes. Any reproduction or use of all or part of its content is strictly prohibited without the authorisation of the Edmond de Rothschild Group. The information contained herein should not be construed as an offer or solicitation of a transaction in any jurisdiction in which such offer or solicitation would be unlawful or in which the person making the offer or solicitation is not authorized to act. This document does not constitute and should not be construed as investment advice, tax or legal advice, or a recommendation to buy, sell or continue to hold any investment. The Edmond de Rothschild Group cannot be held liable for any investment or divestment decision taken on the basis of the information contained in this document. This document has not been reviewed or approved by any regulator in any jurisdiction. The regulations concerning the marketing method of a UCI vary from country to country. The UCIs presented may not be authorized for sale in your country of residence. If you have the slightest doubt about your ability to subscribe to this mutual fund, we invite you to contact your usual advisor. This document is not intended for citizens or residents of the United States of America or "U.S. Persons" as that term is defined in Regulation S of the U.S. Securities Act of 1933. No bullion product shown herein is permitted for sale under the Securities Act of 1933 or any other applicable U.S. regulations. Therefore, no investment product may be offered or sold, directly or indirectly, in the United States of America to residents and citizens of the United States of America and to U.S. Persons. The figures, comments, projections and other elements contained in this presentation reflect the Edmond de Rothschild Group's feelings on the markets, their evolution and their regulations, taking into account its expertise, the economic context and the information available to date. They may no longer be relevant on the day the investor becomes aware of them. Consequently, the Edmond de Rothschild Group cannot be held responsible for the quality or accuracy of the economic information and data obtained from third parties. Any investment involves specific risks. It is therefore recommended that investors ensure that any investment is appropriate to their personal situation by using independent advice if necessary. In addition, they must read the Key Information Document (KID) and/or any other document required by local regulations, provided before any subscription and available in French and English on the website www.edmond-de-rothschild.com "Fund Center" tab or free of charge on request. Past performance and volatility are not indicative of future performance and volatility and are not constant over time. In particular, they may be independently affected by changes in exchange rates. The performance data does not take into account the commissions and fees received when the units or shares of the UCI are issued and redeemed. "Edmond de Rothschild Asset Management" or "EdRAM" is the trading name of the asset management entities (including subsidiaries and affiliated entities) of the Edmond de Rothschild Group. This name also refers to the Asset Management division of the Edmond de Rothschild Group The Management Company is required to pay a share of the UCI's financial management fees to intermediaries such as investment firms, insurance companies, management companies, intermediary marketing structurers, distributors or distribution platforms with whom an agreement has been signed in the context of the distribution, the placement of the units of the mutual fund or the establishment of contacts with other investors. This remuneration is variable and depends on the business relationship in place with the intermediary and on the improvement in the quality of the service provided to the customer that can be justified by the beneficiary of this remuneration. This remuneration may be a lump sum or calculated on the basis of the net subscribed assets resulting from the intermediary's action. The intermediary may or may not be a member of the Edmond de Rothschild group. Each intermediary will communicate to the client, in accordance with the regulations applicable to it, any useful information on costs and expenses and its remuneration. You can obtain a summary of investor rights in English and French at the following link: https://www.edmond-de-rothschild.com/media/go5fm1hx/edram-en-main-rights-of-investors.pdf. The SICAV is registered with the CNMV under number 1801.
[All funds] The management company may decide to cease marketing this Fund in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU. Source of information: Unless otherwise indicated, the sources used in this document are those of the Edmond de Rothschild Group. This document is issued by Edmond de Rothschild Asset Management (France); 47, rue du Faubourg Saint-Honoré; 75401 Paris Cedex 08; Public limited company with a Management Board and Supervisory Board and a capital of 11,033,769 euros; AMF approval number GP 04000015, 332.652.536 R.C.S. Paris.
© Copyright Edmond de Rothschild. All rights reserved.
MANAGEMENT COMPANY AND GLOBAL DISTRIBUTOR [EdR Fund Big Data] / GLOBAL DISTRIBUTOR AND MANAGEMENT COMPANY OF THE SUBFUNDS [EdR SICAV Millesima 2030, EdR SICAV Millesima 2032, EdR SICAV Short Duration Credit]:
EDMOND DE ROTHSCHILD ASSET MANAGEMENT (FRANCE)
47 rue du Faubourg Saint-Honoré / FR - 75401 Paris Cedex 08
Public limited company with a Management Board and Supervisory Board and a capital of 11,033,769 euros - AMF approval number GP 04000015 - 332.652.536 R.C.S. Paris
www.edram.fr
EDMOND DE ROTHSCHILD FUND SICAV [EdR Fund Big Data]
4 rue Robert Stumper / LU - 2557 Luxembourg
