OTP Central European Equity Fund

The Fund is dedicated to Central and Eastern European equities, but also may invest in other mainly Western European and other developed countries. The Fund invests in stocks of companies operating across diversified sectors. The fund managers employ an active strategy based on fundamental analysis but from time to time also use short-term market opportunities, also taking into consideration the fund managers’ macro- economic views. The Fund may hedge its currency risks with forward currency positions and also can take short futures positions to limit its beta risk. While the equity exposure of the Fund can range between 60% and 150%, its target average exposure is 90%. Monthly statement Macro Environment: In June, Central and Eastern European equity markets continued to move higher. Although the Polish market, which has the largest weight in the region, showed relative weakness, with th