OTP Euro Short Bond Fund

The fund provides a short-medium term investment opportunity in short term EUR government securities and other fixed income assets with minimal risk. Monthly statement Macro Environment: June brought meaningful progress toward resolving the Iranian conflict. A ceasefire agreement was reached, restrictions on the Strait of Hormuz were lifted, and negotiations commenced regarding the suspension of Iran’s nuclear programme. Unlike previous episodes of geopolitical de- escalation, however, bond markets failed to stage a meaningful rally. The ECB on June 11, raised its key policy rates by 25 basis points, bringing the deposit rate to 2.25%. According to the Governing Council, the inflationary consequences of the Middle East conflict justified tighter monetary policy under a range of plausible scenarios. The ECB revised its 2026 headline inflation forecast upward from 2.6% to 3.0%, while lower