The sub-fund's management objective is to obtain, in the medium term, a performance, net of management fees, superior to that of the reference indicator: 40% JP Morgan GBI EMU Unhedged LOC (coupons reinvested) + 30% Euro Stoxx DR (C) + 20% MSCI Daily TR Net World Ex EMU $ converted into EUR + 10% [capitalized ESTER + 0.085%], via the implementation of discretionary management.