NEW MILLENNIUM Multi Asset Opportunity The Sub-Fund seeks the capital appreciation over the long term through a portfolio diversified on different

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4 NEW MILLENNIUM Multi Asset Opportunity Investment objective Investment policy Main risk factors The Sub-Fund seeks the capital appreciation over the long term through a portfolio diversified on different asset classes, taking advantage of opportunities at global level through the investment in UCITS and UCIs shares, bonds, equities, commodities, money market instruments and derivative instruments, where appropriate. The Sub-Fund is a balanced, multi-asset fund with geographical and sectorial diversification at global level. The net asset of this Sub-Fund are invested in: - Transferable securities, such equities, convertible bonds and warrants on transferable securities; - fixed and floating rate debt securities, and money market instruments; - units of UCITS and/or UCIs; - financial instruments investing in commodities. The Sub-Fund shall be actively managed. The global asset allocation is determined on the basis of a top-down macroeconomic analysis and the components of the Sub-Fund s portfolio are the outcome of a fundamental analysis conducted on the global world economy. The investment in units of UCITS and/or UCIs shall not exceed 49% of the Sub-Fund net asset. The exposure to equity markets and commodities will be dynamic and based on the markets expectations and it shall at no point exceed 30% of the net assets. Exposure to commodities will mainly be through compliant ETC UCITS and derivatives on indices on commodities. Such indices will be financial indices within the meaning of Article 9 of the Grand Ducal Regulation of 8 February Commodities will mainly be energy and precious metal and marginally row materials. Non investment grade and not rated investments are allowed; the eventual investment in such securities will be residual and it will not exceed 20% of the net assets. Under exceptional circumstances a maximum of 5% of the investments may be made in bonds with a minimum rating between C and CCC+. Downgraded instruments that reach a rating between C and CCC+ shall also be taken into account for the purposes of calculating the above 5% limit. The financial instruments, denominated in any currencies, can be issued by issuers of any nation but with a minimum exposure of 50% of the net assets in issuers based in Europe. The use of financial derivatives instruments for investment purposes is allowed on the condition that the global exposure, calculated through the commitment approach (as defined under ESMA guidelines 10/788), does not at any moment exceed 40% of the Sub- Fund s net asset value. The expected leverage ( calculated as a sum of notionals) is not expected to exceed 100%. Higher level of leverage may occur under certain circumstances. The main investment risks the Sub-Fund is exposed to, are: interest rate risk issuer risk equity risk

5 Reference Portfolio for Relative VaR calculation Profile of typical investor Sub-Fund Co-Manager Valuation currency Valuation day Class of shares liquidity risk risk inherent in investing in emerging markets currency risk commodity risk warrants risk derivative risk For a detailed analysis of the risks please refer to paragraph 6 risk factors. 15% DJ EUROSTOXX % EUROMTS 1-3 ANNI The Sub-Fund suits investors with a medium risk profile and a medium-long term investment horizon. AUGUSTUM OPUS SIM S.P.A. EURO Every bank business day in Luxembourg. Class A: shares suited for all investors Minimum single initial subscription amount Class A: EURO Class I: shares reserved for Institutional investors only. Class L: dematerialized shares listed and tradable on Borsa Italiana Class I: EURO Class L: 1 share Minimum single initial subscription amount Class A: EURO Minimum savings plan subscription amount Management fees Performance fees Classes A, I and L Classe L: 1 share Twelve monthly payments of EUR 100 each or four quarterly payments of EUR 300 each. Class A: 1.90 % per year of the net assets. Class I: 1.20 % per year of the net assets. Class L: 1.35 % per year of the net assets. 15% of the excess return over: 15% DJ EUROSTOXX % EUROMTS 1-3 ANNI

6 NEW MILLENNIUM Evergreen Global High Yield Bond Investment objective Investment policy To achieve a return in excess of global bond markets by investing primarily in global below investment grade debt securities, both corporate and Government, without geographical limits, and with an active management of the exchange rates and derivatives. At least 70% of the Sub-Fund s net assets will be invested in below investment grade and not rated debt securities; the exposure to not rated bonds will not exceed 30% of the net assets. The exposure to investment grade (average rating of BB), or higher, debt securities is therefore allowed up to 30% of the Sub-Fund s net assets. Issuers, mainly corporate, may be located in any country, including emerging markets, for which the focus will be on avoiding an excess of concentration. The Sub-Fund may invest in credit derivative instruments, including credit default swaps and credit spread derivatives, both for hedging the credit risk specific to some issuers present in the portfolio and for selling protection, through the use of CDS, and thus acquire a specific credit position. The use of credit derivatives instruments for investment purposed may not exceed 15% of the Sub-Fund s net assets. The use of ETFs is also allowed with a limit of 10% of the net assets. The securities can be denominated in any currency through an adequate diversification. Up to 20% of net assets may be invested in ABS/MBS. Main risk factors Reference Portfolio for Relative VaR calculation The use of financial derivatives instruments for investment purposes is allowed on the condition that the global exposure calculated through the commitment approach", does not at any moment exceed 50% of the Sub-Fund s net asset value. The expected leverage (calculated as a sum of notional) is not expected to exceed 200% while the expected leverage (calculated through the Commitment approach, as defined under ESMA guidelines 10/788) is not expected to exceed 50%. Higher level of leverage may occur under certain circumstances. As an exception to the investment restrictions contained in the main part of this prospectus, the Sub-Fund will not invest more than 10% of its net assets in UCITS and/or UCIs. The main investment risks the Sub-Fund is exposed to are: market risk Emerging markets risk interest rate risk issuer risk currency risk warrants risk derivatives risk For a detailed analysis of the risks please refer to paragraph 6 Risk factors. -40% BofA Merrill Lynch Global High Yield Index (HW00 Index in Local Currency). -30% BofA Merrill Lynch European Currency High Yield Index (HP00

7 Profile of the typical investor Sub-Fund Co-Manager Valuation currency Valuation day Index in Local Currency). -20% The BofA Merrill Lynch Euro Corporate Index (ER00 Index in Local Currency). -10% Eonia Capitalization (EONACAPL) The Sub-Fund suits investors with a medium/high risk profile and a medium- term investment horizon. AUGUSTUM OPUS SIM S.P.A. EURO Every bank business day in Luxembourg. Class of shares Class A: shares suited for all investors. Minimum single initial subscription amount Class A: EUR 1,500 Class L: 1 share Minimum subsequent subscription amount Class A: EURO Minimum savings plan subscription amount Management fee Performance fee Classes A and L Class L: dematerialized shares listed and tradable on Borsa Italiana. Class L: 1 share Twelve monthly payments of EUR 100 each or four quarterly payments of EUR 300 each. Classe A: 1.70 % per year of the net assets. Classe L: 1.00 % per year of the net assets. 20% of the excess return over the benchmark: -40% BofA Merrill Lynch Global High Yield Index (HW00 Index in Local Currency). -30% BofA Merrill Lynch European Currency High Yield Index (HP00 Index in Local Currency). -20% The BofA Merrill Lynch Euro Corporate Index (ER00 Index in Local Currency). -10% Eonia Capitalization (EONACAPL)