Ofi Invest France Equity PART I

Ofi Invest France Equity is primarily invested in French equities and takes a fundamental and active approach to fund management. The fund aims to outperform the SBF 120 NR* index over a recommended investment horizon of 5 years.
The investment philosophy that the fund managers have developed consists in performing an in-depth analysis of each company’s fundamentals in order to deduce its fair value for the medium/long term. Fair value is defined using two criteria: sustainable growth and value creation potential.
There is no pre-defined bias in favour of specific investment styles or sectors, instead the fund managers select stocks from any market segment and seek to spot the best opportunities for long-term investment, thus keeping portfolio turnover low.
The portfolio of between 40 and 70 stocks is the result of an interactive decision-making process during which each investment case is debated within the “Large Cap equities” team.
The fund is, at all times, 10% exposed to the shares of French VSEs (Very Small Enterprises), SMEs (Small and Medium-Sized Enterprises) or ISEs (Intermediate-Sized Enterprises).
The fund managers also undertake to invest some of the portfolio’s assets (at least 5%, at most 10%) in solidarity-based companies, i.e. those delivering a social benefit, that create or consolidate jobs by generating economic activity. For this purpose, they use the services of Habitat & Humanisme (property) – EHD - Terre de liens (property) - France Active Investissement.
* For more information: www.euronext.com