Plus24-IlSole24Ore 13APRILE &numeri indici

reddito fisso

analisi titoli rncl’hit parade

Australia 3,18 4,69 3,27 3,85 4,05Gr. Bretagna 0,50 1,05 1,78 1,92 2,76Canada 0,98 0,95 1,81 1,98 2,84Danimarca 0,27 0,97 1,49 1,71 1,49Svezia 0,93 1,34 1,65 1,75 1,65Giappone 0,08 0,30 0,58 0,96 0,61Svizzera 0,02 0,11 0,61 0,69 0,61Usa 0,07 4,76 1,81 1,99 2,76Area euro 0,21 0,76 1,30 1,66 1,30

RENDIMENTI EFFETTIVI LORDIpaesi mercatomonet. obbl.governative obblig.

a3 mesi a10 anni corporateultimo 1anno fa ultimo 1anno fa

B.caIntesa 1,059 4,72 -16,22B.coDesio 2,060 6,12 5,97B.coSardegna 7,640 2,28 —Banca Carige 1,155 7,58 n,s.Buzzi Unicem 5,820 0,86 n,s.Danieli 12,710 2,76 -36,39Edison 1,396 — —Gemina 1,340 — 0,45Impregilo 13,890 1,87 n,s.Indesit Compani 5,490 4,52 -10,59Intek Group 0,348 20,84 15,26Intek Groupnew 0,375 — 24,38Italcementi 2,292 8,14 -49,72Italmobiliare 9,915 — -33,59La Fondiaria-Sai 99,000 — n,s.Milano Ass. 0,580 — 26,11Montefibre 0,165 — n,s.Pirelli &c 6,085 5,59 -19,51RCSMediagroup 0,500 — -41,31SaesGetters 6,970 9,57 -8,53Seat Pagine Gialle 1,200 — n,s.Stefanel 146,000 — n,s.TelecomItalia 0,537 10,06 -12,33TelecomItalia Media 0,180 — n,s.Unicredito 8,030 — n,s.Zucchi 0,193 — n,s.

indici& numeriImigliori1 AbuDhabi(Abu DhabiSe) 25,052 Filippine(Phs Comp) 18,343 Argentina (BUSEMerval) 17,054 Kuwait(KSE) 16,985 Thailandia(ThailandSET) 15,45

Ipeggiori1 Cipro(CyprusMain IDX) -11,662 Egitto(EGX30 IDX) -11,013 Colombia(GBC) -9,114 Rep.Ceca(PX 50) -8,735 Corea (KOSPI) -7,56

FONDI ITALIANIindice performance

a1 mese a1 anno a3 anni

fonte:elaborazioneUfficioStudideIlSole-24Ore

Imigliori1 NuovaZelanda 6,332 Irlanda 6,213 Spagna 5,204 Venezuela 5,025 Portogallo 4,05

Ipeggiori1 Argentina -11,612 Giappone -10,393 GranBretagna -4,044 Svizzera -1,865 Norvegia -1,30

AZIONARIOrendimenti in euro dal28/12/12 al11/04/13

paese rend paese rend

Generale -0,03 5,34 7,05Azionari -2,76 6,53 6,53Bilanciati -0,46 6,95 7,10Obbligazionari 0,44 5,87 9,22Monetari 0,15 1,69 3,41Flessibili -0,21 5,15 3,75

fonte:Thomson ReutersDatastream

fonte:Thomson ReutersDatastream

Fonte:elaborazioneUfficioStudideIlSole-24Ore

fonte:elaborazioneUfficioStudidelSole-24Ore

OBBLIGAZIONARIOrendimenti in euro dal28/12/12 al11/04/13

paese rend paese rend

titolo prezzo div/p% sconto%

Plus24 - Il Sole 24 Ore SABATO 13 APRILE 20131 N. 557

previsione sulle economie

Argentina 10,8 02-13 9,2 11,8 +2,4 +44,9 +1,1 0,2 — —Australia 2,2 12-12 2,8 2,7 +3,0 +14,9 +0,3 1,8 3,0 3,1Austria 2,5 02-13 2,1 2,2 +1,5 +14,5 +1,5 0,9 0,2 2,3Belgio 1,1 03-13 2,3 1,9 +1,2 +23,4 +1,9 1,4 0,2 2,8Brasile 7,2 03-13 6,4 5,5 +3,7 +23,4 — 0,9 — —Canada 1,2 02-13 2,0 2,0 +2,4 +13,3 +1,1 1,6 1,1 2,4Cile 1,5 03-13 3,6 3,1 +4,8 +9,9 +14,6 — 5,3 —Cina 2,1 03-13 3,0 3,5 +8,0 +17,1 +0,7 0,7 — —Corea 1,3 03-13 3,1 2,8 +3,7 +27,6 — 0,6 3,0 3,1Danimarca 0,9 03-13 2,0 2,0 +1,5 +29,5 +8,6 0,9 0,2 1,7Filippine 3,2 03-13 5,1 3,9 +5,9 +15,6 +1,6 1,1 — —Finlandia 1,7 02-13 1,8 2,2 +1,7 +27,3 +0,5 2,0 0,2 2,1Francia 1,0 03-13 1,7 1,7 +0,8 +7,7 +2,4 1,5 0,3 2,4Germania 1,4 03-13 1,6 2,0 +1,7 +2,5 +2,3 1,3 0,5 2,0Giappone -0,6 02-13 -0,1 1,8 +1,2 +40,9 +78,4 0,8 0,3 1,0HongK. 3,0 01-13 1,9 4,0 +4,1 +10,7 +1,0 1,1 0,5 —India 12,1 02-13 7,4 7,8 +6,3 +19,0 +20,2 0,7 7,4 —Indonesia 5,9 03-13 7,1 5,1 +6,2 +15,9 +217,2 1,0 5,3 —Irlanda 1,1 02-13 2,0 1,5 +1,9 — +0,0 3,1 0,2 4,9Italia 1,7 03-13 2,2 1,7 +0,5 +20,0 +0,2 0,6 0,3 4,5Malaysia 1,3 01-13 2,4 2,8 +5,2 +11,1 +0,3 1,4 3,4 —Messico 4,3 03-13 4,3 3,8 +3,9 — +1,9 1,2 4,7 6,3N.Zelanda 0,9 12-12 2,6 2,2 +2,9 +11,6 +0,2 1,5 3,3 3,8Norvegia 1,4 03-13 1,7 1,9 +2,8 +8,1 +4,8 1,4 2,0 2,7Olanda 2,9 03-13 1,8 1,9 +0,8 +12,2 +1,5 0,9 0,4 2,3Russia 7,0 03-13 10,2 5,5 +3,8 +2,4 +0,1 4,2 — —Singapore 4,9 02-13 2,6 3,3 +3,9 +8,0 +0,2 1,7 0,4 —Spagna 2,4 03-13 2,7 1,5 +0,3 +145,4 +0,5 2,3 0,4 4,8Sudafrica 5,4 01-13 5,6 5,7 +3,4 +16,0 +4,8 0,9 — —Svezia — 03-13 1,4 1,7 +2,6 +4,0 +5,1 1,7 1,3 2,2Svizzera -0,6 03-13 0,6 0,7 +1,7 +10,1 +3,1 1,3 0,1 1,1Taiwan 1,4 04-13 1,4 2,0 +4,0 +32,9 +2,8 1,2 1,2 —Thailandia 2,7 03-13 3,1 3,4 +4,8 +21,8 +2,0 1,1 3,1 —UK 3,2 02-13 3,3 3,0 +1,6 +9,5 +29,6 1,2 0,7 2,4Usa 2,0 02-13 2,5 2,1 +2,8 +11,5 +2,6 1,2 0,2 2,6

1 Inflazione attesaa6mesi.2Crescita Pilattesoa6mesi.3Crescitautili a 12mesi.4Epsattesoa12mesi.5Tale indicatore èdatodal rapportotraprezzo/utiliattesi a12 mesie il relativotasso di crescita;consente divalutare quantopiùconvenienteè unPaeserispetto adunaltro.6Previsionia12 mesi.

fonte:Thomson ReutersDatastream- Ibes (datialmercoledì).

paese ultima data di mediainf. consensodeglianalistiinflaz. riferim. ultimi inflaz. crescita crescita eps peg tassia tassiaannua 10 anni in% (1) pil in % (2) utili% (3) atteso(4) ratio(5) breve (6) lungo(6)

SABATO 13 APRILE 2013 Plus24 - Il Sole 24 OreN. 557 2

le classifiche dello stoxx600

1P/E PIÙ ALTIVengono evidenziati i titoli che hanno unprezzo di mercato particolarmente elevatoin rapporto agli Utili per Azione attesi.

rk sett. titolo last pr.valore


Le società presenti nelle tabelle sono state raggruppate nei seguenti macro Settori:Bpn: Beni prima necessità; Bvo: Beni voluttuari; Ene: Energia; Fin: Finanza; Ind: Industriali; Inf: Informatica; Mat: Materiali;Pbu: Pubblica utilità; Sal: Salute; Tel: Telecomunicazione. I dati Last price sono relativi alle ore 18:00.

fonte: Thomson Reuters per i dati Last Price, tutti gli altri valori sono forniti da su dati di consenso.

88FinUnibail-Rodam(F) 185,70 18,13 89FinMedioB.(I) 3,85 18,13 90FinGECINA(F) 90,07 18,08 91OthEutelsat Comm.(F) 27,64 18,07 92IndHalma(Gb) 500,00 18,06 93IndAirLiquide(F) 95,66 18,02 94FinBritish Land(Gb) 554,50 18,01 95PbuSevernTrent(Gb) 1654,00 17,98 96SalGetinge(S) 202,00 17,95 97BpnDanone(F) 54,71 17,83 98BvoBurberry(Gb) 1278,00 17,75 99MatKesaElectricals(Gb) 48,25 17,67 100FinAberdeenAsset M.(Gb) 412,60 17,45 101PbuUnitedUtilities(Gb) 711,00 17,33 102PbuLagardere(F) 28,50 17,17 103IndVolvo(S) 92,15 17,12 104MatWolseley(Gb) 3157,00 17,08 105FinLloydsBanking(Gb) 48,15 17,00 106IndKonecranes(Fl) 25,92 16,92 107IndZodiac Aerospace(F) 91,80 16,91 108IndScania(S) 132,70 16,90 109BvoKesko(Fl) 24,73 16,78 110BpnHeineken Holding(Nl) 49,88 16,77 111BvoReckittBenckiser(Gb) 4658,00 16,74 112BpnPPR(F) 172,55 16,67 113BvoCasinoGuichard Per(F) 83,91 16,64 114IndAggreko(Gb) 1757,00 16,51 115PbuPublicise(F) 54,40 16,39 116BvoBritAmer Tobacco(Gb) 3549,50 16,39 117BvoCarrefour(F) 21,36 16,29 118FinKlepierre(F) 30,73 16,11 119InfSage(Gb) 332,50 16,09 120BvoBIC(F) 91,18 15,98 121MatSignetJewelers(Gb) 66,02 15,89 122FinJardineLloyd Thomp(Gb) 828,00 15,87 123EneNeste Oil(Fl) 11,66 15,81 124IndCapita(Gb) 881,00 15,79 125BvoRyanair Holdings(Irl) 6,04 15,78 126EneJohn Wood(Gb) 864,50 15,74 127BvoSwedishMatch(S) 209,00 15,72 128BvoWhitbread(Gb) 2498,00 15,59 129MatStoraEnso(Fl) 5,04 15,51 130InfSAFRAN(F) 35,23 15,48 131TelTelenor(Nok) 127,90 15,46 132SalSmith & Nephew(Gb) 761,00 15,45 133Fin3i(Gb) 314,30 15,45 134BpnCSM(Nl) 16,46 15,36 135MatHolmen(S) 194,70 15,36 136IndJohnsonMatthey(Gb) 2294,00 15,19 137IndSKF(S) 153,30 15,15 138PbuPennon(Gb) 647,00 15,13 139SalGalenicaLtd(Ch) 572,50 15,03 140TelPortugalTelecom(P) 3,87 14,96 141FinProvidentFinancial(Gb) 1567,00 14,95 142IndFiat(I) 4,01 14,95

143MatSkanska(S) 116,90 14,90 144MatTravisPerkins(Gb) 1393,00 14,88 145BvoElectrolux(S) 168,50 14,86 146IndBabcockInt.(Gb) 1078,00 14,84 147SalShire.(Gb) 1967,00 14,79 148FinClose Brothers(Gb) 1041,00 14,77 149IndAkzo Nobel(Nl) 47,23 14,75 150IndElectrocomponents(Gb) 245,10 14,64 151FinICADE(F) 67,81 14,57 152OthIG(Gb) 531,50 14,54 153PbuTerna(I) 3,26 14,52 154OthMondi(Gb) 857,50 14,50 155IndRandstad(Nl) 31,20 14,49 156IndWeir(Gb) 2229,00 14,46 157FinEurazeo(F) 39,96 14,40 158FinWereldhave(Nl) 54,59 14,40 159BpnTate & Lyle(Gb) 850,50 14,39 160IndSandvik(S) 97,80 14,39 161PbuReed Elsevier(Gb) 759,00 14,36 162EneAker Solutions(Nok) 110,30 14,35 163MatGrupoAcciona(E) 43,60 14,33 164InfAtos(F) 52,84 14,22 165IndSchneiderElectric(F) 57,05 14,20 166IndSerco(Gb) 617,50 14,15 167IndIMI(Gb) 1273,00 14,05 168IndNokian Renkaat Oyj(Fl) 35,22 13,99 169IndCargotec(Fl) 24,70 13,90 170IndBBAAviation(Gb) 265,50 13,88 171PbuNational Grid(Gb) 777,50 13,86 172PbuDailyMail AndGen.(Gb) 707,00 13,85 173TelTele2(S) 109,90 13,79 174IndBoskalisWestmin(Nl) 31,52 13,74 175IndRexam(Gb) 524,50 13,69 176BpnAryzta(Ch) 55,20 13,61 177PbuWPP(Gb) 1056,00 13,61 178IndDCC(Irl) 27,70 13,60 179BvoWilliam Hill(Gb) 382,00 13,56 180FinRoyalB. Of Scotl(Gb) 274,40 13,56 181IndTrelleborg(S) 86,70 13,55 182MatXstrata(Gb) 1051,00 13,53 183PbuReed Elsevier Nv(Nl) 12,81 13,48 184PbuUnitedBusin Media(Gb) 699,00 13,35 185PbuCentrica(Gb) 371,50 13,34 186IndG4S(Gb) 289,80 13,29 187MatSaintGobain(F) 27,79 13,27 188SalGlaxoSmithKline(Gb) 1540,00 13,26 189IndBerkeleyHoldings(Gb) 2013,00 13,25 190PbuITV(Gb) 125,00 13,22 191OthAshmore(Gb) 348,50 13,14 192IndAckermans & Van H.(B) 65,87 13,13 193FinS EBanken(S) 65,50 13,01 194PbuPearson(Gb) 1142,00 13,00 195FinHenderson(Gb) 159,40 12,98 196MatEiffage(F) 32,08 12,97 197FinHsbc(Gb) 694,00 12,94 198IndSmiths(Gb) 1240,00 12,93 199FinSvenskaHbanken(S) 278,20 12,87 200SalSanofi(F) 79,08 12,84 201FinCastellum(S) 93,85 12,81 202PbuSSE(Gb) 1508,00 12,79



2P/E PIÙ BASSIVengono evidenziati i titoli che hanno unprezzo di mercato particolarmente basso inrapporto agli Utili per Azione attesi.





88IndThales(Ex Thomson)(F) 32,59 11,13 89BvoGreene King(Gb) 674,00 11,24 90FinNatixis(F) 2,90 11,28 91PbuMTG(S) 257,50 11,35 92MatAntofagasta(Gb) 969,00 11,38 93BpnMarks & Spencer(Gb) 386,80 11,38 94MatImtech(Nl) 8,99 11,38 95FinSociete Generale(F) 25,42 11,41 96IndMetso(Fl) 31,02 11,45 97BvoTUI Travel(Gb) 313,20 11,48 98FinLegal & General(Gb) 169,30 11,58 99PbuFortumCorporation(Fl) 16,35 11,62 100MatAngloAmerican(Gb) 1646,00 11,66 101IndVesuvius(Gb) 349,90 11,66 102MatUPM Kymmene(Fl) 8,74 11,67 103FinStandardChartered(Gb) 1686,50 11,69 104EneEnagas(E) 17,98 11,72 105FinPrudential(Gb) 1055,00 11,72 106BvoTesco(Gb) 378,00 11,73 107FinNordea Bank(S) 73,60 11,76 108FinInvestec(Gb) 448,80 11,77 109TelVodafone(Gb) 184,80 11,78 110PbuAlpiq Holding(Ch) 114,90 11,86 111InfCap Gemini(F) 35,09 11,89 112FinBefimmo(B) 49,88 11,93 113MatYIT(Fl) 16,34 11,99 114IndRentokil Initial(Gb) 97,20 12,16 115FinSampo(Fl) 30,06 12,23 116IndAtlantia(I) 12,20 12,32 117IndSecuritas(S) 60,65 12,39 118IndInchcape(Gb) 503,00 12,41 119FinCofinimmo(B) 89,46 12,48 120MatImerys(F) 50,04 12,50 121PbuTF1(F) 8,30 12,51 122MatAmec(Gb) 1098,00 12,61 123FinIntesanpaolo(I) 1,13 12,62 124InfUBI SoftEntert.(F) 8,34 12,63 125FinSegro(Gb) 254,00 12,63 126MatKingfisher(Gb) 289,10 12,65 127PbuSNAMRete Gas(I) 3,58 12,70 128BvoKoninklijke(Nl) 12,13 12,74 129FinLondonStock Exchan(Gb) 1271,00 12,75 130IndMeggitt(Gb) 480,40 12,77 131PbuSSE(Gb) 1508,00 12,79 132FinMan(Gb) 89,35 12,79 133FinCastellum(S) 93,85 12,81 134SalSanofi(F) 79,08 12,84 135FinSvenskaHbanken(S) 278,20 12,87 136IndSmiths(Gb) 1240,00 12,93 137FinHsbc(Gb) 694,00 12,94 138MatEiffage(F) 32,08 12,97 139FinHenderson(Gb) 159,40 12,98 140PbuPearson(Gb) 1142,00 13,00 141FinS EBanken(S) 65,50 13,01 142IndAckermans & Van H.(B) 65,87 13,13

143OthAshmore(Gb) 348,50 13,14 144PbuITV(Gb) 125,00 13,22 145IndBerkeleyHoldings(Gb) 2013,00 13,25 146SalGlaxoSmithKline(Gb) 1540,00 13,26 147MatSaintGobain(F) 27,79 13,27 148IndG4S(Gb) 289,80 13,29 149PbuCentrica(Gb) 371,50 13,34 150PbuUnitedBusin Media(Gb) 699,00 13,35 151PbuReed Elsevier Nv(Nl) 12,81 13,48 152MatXstrata(Gb) 1051,00 13,53 153IndTrelleborg(S) 86,70 13,55 154BvoWilliam Hill(Gb) 382,00 13,56 155FinRoyalB. Of Scotl(Gb) 274,40 13,56 156IndDCC(Irl) 27,70 13,60 157BpnAryzta(Ch) 55,20 13,61 158PbuWPP(Gb) 1056,00 13,61 159IndRexam(Gb) 524,50 13,69 160IndBoskalisWestmin(Nl) 31,52 13,74 161TelTele2(S) 109,90 13,79 162PbuDailyMail AndGen.(Gb) 707,00 13,85 163PbuNational Grid(Gb) 777,50 13,86 164IndBBAAviation(Gb) 265,50 13,88 165IndCargotec(Fl) 24,70 13,90 166IndNokian Renkaat Oyj(Fl) 35,22 13,99 167IndIMI(Gb) 1273,00 14,05 168IndSerco(Gb) 617,50 14,15 169IndSchneiderElectric(F) 57,05 14,20 170InfAtos(F) 52,84 14,22 171MatGrupoAcciona(E) 43,60 14,33 172EneAker Solutions(Nok) 110,30 14,35 173PbuReed Elsevier(Gb) 759,00 14,36 174BpnTate & Lyle(Gb) 850,50 14,39 175IndSandvik(S) 97,80 14,39 176FinEurazeo(F) 39,96 14,40 177FinWereldhave(Nl) 54,59 14,40 178IndWeir(Gb) 2229,00 14,46 179IndRandstad(Nl) 31,20 14,49 180OthMondi(Gb) 857,50 14,50 181PbuTerna(I) 3,26 14,52 182OthIG(Gb) 531,50 14,54 183FinICADE(F) 67,81 14,57 184IndElectrocomponents(Gb) 245,10 14,64 185IndAkzo Nobel(Nl) 47,23 14,75 186FinClose Brothers(Gb) 1041,00 14,77 187SalShire.(Gb) 1967,00 14,79 188IndBabcockInt.(Gb) 1078,00 14,84 189BvoElectrolux(S) 168,50 14,86 190MatTravisPerkins(Gb) 1393,00 14,88 191MatSkanska(S) 116,90 14,90 192FinProvidentFinancial(Gb) 1567,00 14,95 193IndFiat(I) 4,01 14,95 194TelPortugalTelecom(P) 3,87 14,96 195SalGalenicaLtd(Ch) 572,50 15,03 196PbuPennon(Gb) 647,00 15,13 197IndSKF(S) 153,30 15,15 198IndJohnsonMatthey(Gb) 2294,00 15,19 199BpnCSM(Nl) 16,46 15,36 200MatHolmen(S) 194,70 15,36 201SalSmith & Nephew(Gb) 761,00 15,45 202Fin3i(Gb) 314,30 15,45



3P/RICAVI PIÙ BASSIVengono evidenziati i titoli che hanno unprezzo di mercato particolarmente basso inrapporto ai Ricavi per azione attesi.





88IndBBA Aviation(Gb) 265,50 0,49 89PbuMediaset(I) 1,55 0,49 90FinAegon(Nl) 4,69 0,49 91TelCable&W. Comm PLC(Gb) 41,93 0,50 92PbuSanomaCorporation(Fl) 6,60 0,51 93InfAtos(F) 52,84 0,51 94EneTotal(F) 37,32 0,51 95TelFrance Telecom(F) 7,72 0,51 96TelPortugalTelecom(P) 3,87 0,51 97InfCap Gemini(F) 35,09 0,52 98OthMondi(Gb) 857,50 0,52 99EneENI(I) 17,56 0,52 100TelOTE(Hellenic Tel)(Gr) 4,67 0,53 101FinB.Monte DeiPaschi(I) 0,17 0,53 102FinEurazeo(F) 39,96 0,54 103MatVinci(F) 35,34 0,54 104IndSerco(Gb) 617,50 0,54 105OthGalp Energia(P) 11,99 0,54 106BvoSodexo(F) 72,44 0,55 107MatTravisPerkins(Gb) 1393,00 0,55 108OthWackerChemie(D) 56,00 0,56 109IndNational Express(Gb) 203,60 0,57 110IndGKN(Gb) 261,80 0,57 111PbuBKWEnergie(Ch) 32,05 0,58 112MatWolseley(Gb) 3157,00 0,59 113FinCatlin.(Gb) 524,00 0,60 114InfUBI SoftEntert.(F) 8,34 0,60 115IndChemring(Gb) 257,00 0,60 116MatCRH(Irl) 16,70 0,60 117IndMichelin(F) 64,75 0,61 118IndBAE Systems(Gb) 382,90 0,61 119BpnMarks & Spencer(Gb) 386,80 0,61 120EneStatoil(Nok) 139,30 0,61 121IndVesuvius(Gb) 349,90 0,62 122FinC.Valtellinese(I) 0,86 0,62 123IndVolvo(S) 92,15 0,62 124BvoStagecoach(Gb) 305,00 0,63 125IndMetso(Fl) 31,02 0,64 126MatKingfisher(Gb) 289,10 0,64 127EneJohn Wood(Gb) 864,50 0,65 128BpnHeineken Holding(Nl) 49,88 0,65 129IndRentokil Initial(Gb) 97,20 0,68 130FinB.Comercial(P) 0,09 0,68 131MatBuzzi Unicem(I) 11,15 0,69 132IndPirelli Co(I) 8,14 0,69 133EneAker Solutions(Nok) 110,30 0,69 134PbuTF1(F) 8,30 0,71 135BvoMitchells AndButl(Gb) 316,30 0,71 136FinB.Popolare(I) 0,91 0,71 137EneSBMOffshore NV(Nl) 12,47 0,71 138PbuCentrica(Gb) 371,50 0,72 139MatAmec(Gb) 1098,00 0,73 140SalRhoenKlinikum(D) 16,52 0,74 141TelTelefonica(E) 10,38 0,74 142IndKonecranes(Fl) 25,92 0,74

143FinPrudential(Gb) 1055,00 0,74 144PbuIberdrola(E) 3,65 0,75 145BvoEnterpriseInns(Gb) 100,20 0,75 146InfStmicroelectronics(Nl) 5,90 0,76 147PbuVivendi(F) 16,14 0,77 148FinB.Pop.Emilia Rom(I) 5,21 0,77 149IndAkzo Nobel(Nl) 47,23 0,77 150InfPhilips(Nl) 23,00 0,77 151BvoCompass(Gb) 836,00 0,79 152OthTomTom(Nl) 3,19 0,80 153FinAmlin(Gb) 424,40 0,81 154IndElectrocomponents(Gb) 245,10 0,84 155BvoJeronimoMart&Filho(P) 15,54 0,84 156BpnAryzta(Ch) 55,20 0,85 157MatEramet(F) 82,28 0,85 158MatKingspan(Irl) 9,19 0,86 159IndBarratt Develop(Gb) 270,00 0,87 160MatLafarge(F) 50,14 0,88 161MatNorsk Hydro(Nok) 24,98 0,88 162IndRexam(Gb) 524,50 0,89 163FinUBI B.(I) 2,70 0,90 164IndKoninklijke DSM(Nl) 46,84 0,91 165BpnCoca Cola Hell Bott(Gr) 20,10 0,92 166IndYara Intl(Nok) 262,50 0,92 167MatHolmen(S) 194,70 0,92 168FinCreditricole(F) 6,37 0,93 169MatImerys(F) 50,04 0,93 170OthEurasian NaturRes.(Gb) 235,20 0,94 171FinB.Pop. Milano(I) 0,49 0,94 172InfEricsson(S) 78,85 0,94 173MatRockwool Int.(Dk) 695,00 0,95 174FinSociete Generale(F) 25,42 0,96 175BpnMarston's(Gb) 134,20 0,97 176InfSAFRAN(F) 35,23 1,00 177TelBT(Gb) 273,60 1,00 178MatTitanCement(Gr) 13,00 1,00 179BpnAssoc British Foods(Gb) 1894,00 1,01 180FinINGGroep(Nl) 5,72 1,01 181IndInvensys(Gb) 350,00 1,03 182IndTrelleborg(S) 86,70 1,03 183SalGalenicaLtd(Ch) 572,50 1,05 184PbuM6Metropole Telev(F) 12,02 1,07 185BvoAccor(F) 26,97 1,07 186PbuDailyMail AndGen.(Gb) 707,00 1,07 187MatSignetJewelers(Gb) 66,02 1,08 188BpnTate & Lyle(Gb) 850,50 1,08 189IndBabcockInt.(Gb) 1078,00 1,08 190PbuWPP(Gb) 1056,00 1,08 191SalLundbeck(Dk) 111,00 1,10 192BvoGreene King(Gb) 674,00 1,13 193PbuMTG(S) 257,50 1,14 194IndSKF(S) 153,30 1,15 195BvoSCA Sv Cellulosa(S) 168,60 1,16 196FinIntesanpaolo(I) 1,13 1,18 197IndBoskalisWestmin(Nl) 31,52 1,18 198TelTele2(S) 109,90 1,19 199EneTechnip(F) 83,52 1,20 200BpnKerry(Irl) 45,16 1,20 201IndSGL Carbon SE(D) 30,55 1,24 202FinNatixis(F) 2,90 1,25



4FORZA RELATIVA PIÙ ALTATitoli che hanno ottenuto una miglioreperformance nei 12 mesi precedenti,rispetto all’indice STOXX600.





88InfSAFRAN(F) 35,23 14,69 89FinAegon(Nl) 4,69 14,69 90IndWeir(Gb) 2229,00 14,15 91BpnSabmiller(Gb) 3454,50 13,88 92FinIndustrivarden(S) 122,60 13,88 93BpnAryzta(Ch) 55,20 13,70 94BvoCarrefour(F) 21,36 13,58 95EneNeste Oil(Fl) 11,66 13,56 96PbuLagardere(F) 28,50 13,37 97TelCable&W. Comm PLC(Gb) 41,93 13,35 98BpnIntercontinHotels(Gb) 1985,00 13,14 99IndBAE Systems(Gb) 382,90 13,07 100BvoWhitbread(Gb) 2498,00 12,56 101MatWolseley(Gb) 3157,00 12,08 102BvoReckittBenckiser(Gb) 4658,00 11,87 103MatAurubis(D) 47,34 11,64 104InfDassaultSystemes(F) 89,03 11,63 105BpnKerry(Irl) 45,16 11,54 106PbuVivendi(F) 16,14 11,52 107IndEads(Nl) 39,25 11,50 108IndIMI(Gb) 1273,00 11,16 109BvoGreene King(Gb) 674,00 11,08 110InfAtos(F) 52,84 11,05 111IndBabcockInt.(Gb) 1078,00 10,93 112IndHalma(Gb) 500,00 10,68 113FinGECINA(F) 90,07 10,63 114FinOldMutual(Gb) 197,50 10,36 115BpnDiageo(Gb) 2046,00 10,22 116FinDnBNOR(Nok) 86,55 10,10 117IndCrodaInter.(Gb) 2750,00 9,66 118BpnUnilever Nv(Nl) 31,80 9,62 119MatKingspan(Irl) 9,19 9,43 120IndSchneiderElectric(F) 57,05 9,23 121BpnPernodRicard(F) 95,40 9,12 122EneAker Solutions(Nok) 110,30 9,10 123TelTelenor(Nok) 127,90 9,04 124FinAmlin(Gb) 424,40 8,44 125FinKlepierre(F) 30,73 8,23 126BvoCompass(Gb) 836,00 8,09 127EneJohn Wood(Gb) 864,50 7,88 128FinDerwentLondon(Gb) 2152,00 7,69 129MatEiffage(F) 32,08 7,66 130InfEricsson(S) 78,85 7,61 131FinHsbc(Gb) 694,00 7,25 132BvoMitchells AndButl(Gb) 316,30 7,21 133IndRexam(Gb) 524,50 7,08 134FinInvestec(Gb) 448,80 7,03 135FinB.Pop.Emilia Rom(I) 5,21 7,01 136IndThales(Ex Thomson)(F) 32,59 6,96 137FinNatixis(F) 2,90 6,76 138IndZodiac Aerospace(F) 91,80 6,74 139FinAssicGenerali(I) 12,10 6,72 140PbuWPP(Gb) 1056,00 6,70 141BvoSodexo(F) 72,44 6,66 142FinUnibail-Rodam(F) 185,70 6,27

143FinB.Comercial(P) 0,09 6,27 144FinLondonStock Exchan(Gb) 1271,00 5,76 145SalElekta(S) 99,65 5,73 146TelBT(Gb) 273,60 5,62 147FinCastellum(S) 93,85 5,54 148SalBiomerieuxInc(F) 73,68 4,95 149BvoStagecoach(Gb) 305,00 4,51 150IndRandstad(Nl) 31,20 4,49 151IndBoskalisWestmin(Nl) 31,52 4,34 152IndAlstom(F) 30,59 4,32 153FinCatlin.(Gb) 524,00 4,26 154PbuRedElectrica Corp.(E) 37,31 3,94 155BvoBIC(F) 91,18 3,92 156IndZardoya Otis(E) 10,26 3,75 157IndSmiths(Gb) 1240,00 3,73 158PbuNational Grid(Gb) 777,50 3,63 159IndBBAAviation(Gb) 265,50 3,39 160IndGamesa Corp Tech.(E) 2,49 3,19 161IndSandvik(S) 97,80 3,13 162MatHolmen(S) 194,70 3,02 163MatImerys(F) 50,04 2,86 164SalSmith & Nephew(Gb) 761,00 2,59 165FinInvestmentKinnevik(S) 158,60 2,52 166FinJardineLloyd Thomp(Gb) 828,00 2,25 167FinBritish Land(Gb) 554,50 2,16 168FinHammerson(Gb) 484,40 2,15 169BvoKoninklijke(Nl) 12,13 2,01 170IndValeo(F) 42,06 2,00 171IndMichelin(F) 64,75 1,92 172IndMeggitt(Gb) 480,40 1,86 173IndAlfaLaval(S) 149,10 1,73 174BpnExperian(Gb) 1154,00 1,59 175FinB.Espiritonto(P) 0,74 1,30 176BvoCasinoGuichard Per(F) 83,91 1,17 177PbuTerna(I) 3,26 1,17 178FinEurazeo(F) 39,96 1,05 179OthIG(Gb) 531,50 0,94 180BpnTate & Lyle(Gb) 850,50 0,83 181IndCapita(Gb) 881,00 0,76 182BvoTesco(Gb) 378,00 0,59 183PbuUnitedUtilities(Gb) 711,00 0,51 184PbuCentrica(Gb) 371,50 0,49 185SalAstraZeneca(Gb) 3288,50 0,14 186FinHelvetia Holding(Ch) 379,50 0,06 187BpnOrkla(Nok) 48,30 -0,34 188InfCap Gemini(F) 35,09 -0,40 189PbuUnitedBusin Media(Gb) 699,00 -0,86 190IndAtlantia(I) 12,20 -0,99 191FinLandSecurities(Gb) 824,50 -1,05 192FinMedioB.(I) 3,85 -1,05 193FinSCOR(F) 22,70 -1,41 194MatCRH(Irl) 16,70 -1,55 195IndAkzo Nobel(Nl) 47,23 -2,00 196PbuSSE(Gb) 1508,00 -2,11 197IndKoninklijke DSM(Nl) 46,84 -2,25 198TelTeliasonera(S) 43,40 -2,28 199SalGetinge(S) 202,00 -2,46 200MatYIT(Fl) 16,34 -2,85 201SalRhoenKlinikum(D) 16,52 -3,02 202InfSage(Gb) 332,50 -3,67



5CAGR 2012/2014 PIÙ ALTOTitoli che potrebbero avere un maggioreincremento degli Utili nel periodo indicato inaccordo alle attese degli analisti.





88OthMondi(Gb) 857,50 13,23 89OthBureau Veritas(F) 95,70 13,17 90IndTrelleborg(S) 86,70 13,08 91BvoRyanair Holdings(Irl) 6,04 13,06 92MatRioTinto(Gb) 3014,00 12,90 93IndBoskalisWestmin(Nl) 31,52 12,90 94BpnSabmiller(Gb) 3454,50 12,86 95BvoInditex(E) 102,70 12,67 96SalGetinge(S) 202,00 12,59 97SalShire.(Gb) 1967,00 12,45 98IndAkzo Nobel(Nl) 47,23 12,45 99InfSAFRAN(F) 35,23 12,30 100IndIntertek(Gb) 3430,00 12,14 101MatAngloAmerican(Gb) 1646,00 12,12 102IndPirelli Co(I) 8,14 12,09 103FinBarclays(Gb) 284,90 12,01 104IndKone(Fl) 61,90 11,82 105OthGalp Energia(P) 11,99 11,72 106BpnOrkla(Nok) 48,30 11,67 107MatSignetJewelers(Gb) 66,02 11,53 108BvoLVMH(F) 134,40 11,51 109IndSKF(S) 153,30 11,41 110BvoCarrefour(F) 21,36 11,12 111BpnPernodRicard(F) 95,40 11,09 112IndZodiac Aerospace(F) 91,80 11,09 113BvoCasinoGuichard Per(F) 83,91 11,05 114BpnIntercontinHotels(Gb) 1985,00 10,99 115FinCatlin.(Gb) 524,00 10,95 116MatRockwool Int.(Dk) 695,00 10,76 117BpnPPR(F) 172,55 10,74 118FinSCOR(F) 22,70 10,62 119BpnKerry(Irl) 45,16 10,49 120BvoHermes Internation(F) 269,45 10,28 121IndAlstom(F) 30,59 10,25 122BvoHennes& Mauritz(S) 231,00 10,21 123BvoBurberry(Gb) 1278,00 10,15 124SalQiagen(Nl) 16,09 10,14 125IndAssaloy(S) 260,90 10,06 126IndG4S(Gb) 289,80 9,99 127IndNokian Renkaat Oyj(Fl) 35,22 9,98 128FinStandardChartered(Gb) 1686,50 9,98 129InfDassaultSystemes(F) 89,03 9,84 130SalBiomerieuxInc(F) 73,68 9,84 131IndSecuritas(S) 60,65 9,78 132OthWackerChemie(D) 56,00 9,77 133FinOldMutual(Gb) 197,50 9,76 134BpnAryzta(Ch) 55,20 9,67 135IndAlfaLaval(S) 149,10 9,56 136IndSandvik(S) 97,80 9,49 137IndAckermans & Van H.(B) 65,87 9,48 138MatXstrata(Gb) 1051,00 9,46 139MatWolseley(Gb) 3157,00 9,42 140IndRentokil Initial(Gb) 97,20 9,39 141PbuPublicise(F) 54,40 9,20 142FinS EBanken(S) 65,50 9,19

143BvoAccor(F) 26,97 8,97 144PbuLagardere(F) 28,50 8,95 145MatSkanska(S) 116,90 8,72 146IndAirLiquide(F) 95,66 8,66 147IndElectrocomponents(Gb) 245,10 8,48 148BvoWhitbread(Gb) 2498,00 8,43 149IndRandstad(Nl) 31,20 8,41 150PbuJC Decaux(F) 20,82 8,38 151IndValeo(F) 42,06 8,35 152IndThales(Ex Thomson)(F) 32,59 8,32 153BpnUnilever(Gb) 2760,00 8,19 154BpnUnilever Nv(Nl) 31,80 8,17 155FinNordea Bank(S) 73,60 8,11 156MatTravisPerkins(Gb) 1393,00 8,08 157OthEutelsat Comm.(F) 27,64 8,06 158PbuITV(Gb) 125,00 8,06 159EneDragonOil(Irl) 617,50 7,97 160IndVesuvius(Gb) 349,90 7,82 161OthIG(Gb) 531,50 7,81 162BvoCompass(Gb) 836,00 7,73 163FinProvidentFinancial(Gb) 1567,00 7,72 164MatAmec(Gb) 1098,00 7,64 165BpnAssoc British Foods(Gb) 1894,00 7,61 166FinDnBNOR(Nok) 86,55 7,60 167IndBBAAviation(Gb) 265,50 7,58 168IndCargotec(Fl) 24,70 7,53 169BpnDiageo(Gb) 2046,00 7,52 170PbuRedElectrica Corp.(E) 37,31 7,47 171BvoBritAmer Tobacco(Gb) 3549,50 7,45 172FinUnibail-Rodam(F) 185,70 7,44 173IndBerkeleyHoldings(Gb) 2013,00 7,32 174OthFresnillo(Gb) 1287,00 7,06 175PbuWPP(Gb) 1056,00 7,06 176FinAviva(Gb) 294,20 6,88 177BvoSodexo(F) 72,44 6,85 178InfSage(Gb) 332,50 6,84 179IndRexam(Gb) 524,50 6,83 180IndSchneiderElectric(F) 57,05 6,64 181IndMitie(Gb) 274,30 6,64 182MatKingfisher(Gb) 289,10 6,64 183SalSmith & Nephew(Gb) 761,00 6,58 184TelTele2(S) 109,90 6,55 185BpnDanone(F) 54,71 6,44 186FinJardineLloyd Thomp(Gb) 828,00 6,38 187IndGKN(Gb) 261,80 6,34 188BvoMitchells AndButl(Gb) 316,30 6,27 189BvoL'Oreal(F) 124,10 6,22 190FinLandSecurities(Gb) 824,50 6,14 191BpnMarks & Spencer(Gb) 386,80 6,08 192BvoTUI Travel(Gb) 313,20 5,88 193IndCrodaInter.(Gb) 2750,00 5,86 194IndJohnsonMatthey(Gb) 2294,00 5,82 195MatAurubis(D) 47,34 5,81 196PbuUnitedBusin Media(Gb) 699,00 5,81 197IndMeggitt(Gb) 480,40 5,72 198FinCNP Assurances(F) 10,73 5,66 199IndDCC(Irl) 27,70 5,54 200BpnTate & Lyle(Gb) 850,50 5,47 201IndCapita(Gb) 881,00 5,46 202TelFrance Telecom(F) 7,72 5,42


la classifica di piazza affarititolo codice ten capital beta

isin mlnÁ prosptitolo codice ten capital beta

isin mlnÁ prosp

1 Eni IT0003132476 ¬ 65685 0,872 Enel IT0003128367 u 25275 0,993 UniCredit 20585

Risparmion.c. IT0004781420 ¬ 19 1,14Ordinarie IT0004781412 u 20566 n.s.

4 Intesa Sanpaolo 20522Ordinarie IT0000072618 ¬ 19538 1,82Risparmion.c. IT0000072626 u 984 1,72

5 Generali IT0000062072 ¬ 20459 1,216 Luxottica IT0001479374 ¬ 18748 0,427 Snam IT0003153415 ¬ 12577 0,588 TelecomItalia 11499

Ordinarie IT0003497168 ¬ 8249 0,86Risparmion.c. IT0003497176 ¬ 3250 —

9 Fiat Industrial IT0004644743 u 10729 —10 Saipem 10056

Ordinarie IT0000068525 ¬ 10056 1,12Risparmio IT0000068533 ¬ —

11 Atlantia IT0003506190 u 8405 —12 EnelGreen Power IT0004618465 ¬ 7722 —13 TERNA IT0003242622 ¬ 6774 —14 Fiat IT0001976403 u 5450 1,3515 Exor 5425

Privilegiate IT0001353157 ¬ 1683 1,01Risparmio IT0004436447 ¬ 199 —Ordinarie IT0001353140 ¬ 3543 —

16 Mediobanca IT0000062957 u 3760 1,3217 SalvatoreFerragamo IT0004712375 ¬ 3686 —18 Pirelli& C. 3686

Ordinarie IT0004623051 u 3611 1,05Risparmion.c. IT0004623333 ¬ 75 0,89

19 ParmalatS.p.a. IT0003826473 v 3653 —20 Campari IT0003849244 v 3544 0,4221 Prysmian IT0004176001 u 3468 —22 Tod's IT0003007728 ¬ 3383 0,7723 Lottomatica IT0003990402 ¬ 3199 —24 Mediolanum IT0001279501 u 3143 1,4825 UBIBanca IT0003487029 u 2633 1,4726 Autogrill IT0001137345 ¬ 2481 0,6127 MontePaschi IT0001334587 u 2277 1,7228 Finmeccanica IT0003856405 u 2269 1,3029 BuzziUnicem 2165

Ordinarie IT0001347308 ¬ 1930 1,19Risparmion.c. IT0001369427 u 235 1,06

30 Mediaset IT0001063210 u 2049 1,3831 Hera IT0001250932 v 1977 0,6532 Gemina 1972

Ordinarie IT0001480323 ¬ 1967 0,65Risparmion.c. IT0001480349 u 5 0,55

33 AzimutHolding IT0003261697 u 1919 —34 B.caPop. Emilia Rom. IT0000066123 u 1862 1,2035 De'Longhi IT0003115950 ¬ 1805 0,8736 Fondiaria-Sai 1794

Ordinarie IT0004827447 ¬ 1348 1,44Risparmion.c. IT0004827454 ¬ 127 1,25Risparmio IT0004827488 ¬ 319 —

37 BancoPopolare IT0004231566 u 1771 1,5738 Sias IT0003201198 ¬ 1760 0,8539 Banca Generali IT0001031084 u 1699 —40 B.caPop. Milano IT0000064482 ¬ 1686 1,6841 A2A IT0001233417 v 1674 1,0842 Unipol 1632

Ordinarie IT0004810054 ¬ 1051 1,03

Privilegiate IT0004810062 ¬ 580 1,2343 Impregilo 1625

Ordinarie IT0003865570 ¬ 1603 0,87Risparmion.c. IT0003865588 ¬ 22 0,26

44 Diasorin IT0003492391 ¬ 1569 —45 Recordati IT0003828271 u 1503 0,4346 Cr.Emiliano IT0003121677 u 1347 1,2947 B.caPop. Sondrio IT0000784196 u 1346 0,8848 Danieli 1317

Ordinarie IT0000076502 u 812 1,10Risparmion.c. IT0000076486 u 505 1,16

49 AnsaldoSts IT0003977540 v 1247 —50 B.caCarige 1103

Risparmio IT0003308878 u 3 0,51Ordinarie IT0003211601 u 1100 1,15

51 BrunelloCucinelli IT0004764699 ¬ 1089 —52 Erg IT0001157020 u 1071 0,7553 Sorin IT0003544431 v 1048 —54 Italcementi 1043


55 Acea IT0001207098 ¬ 1026 0,8856 BeniStabili IT0001389631 ¬ 915 1,2557 Saras IT0000433307 ¬ 915 —58 C.Ass.Milano 897

Ordinarie IT0000062221 ¬ 840 1,58Risparmion.c. IT0000062205 v 57 1,40

59 Amplifon IT0004056880 ¬ 846 0,6560 YOOXS.P.A. IT0003540470 ¬ 839 —61 AutoTo-Mi IT0000084027 ¬ 831 0,8462 Brembo IT0001050910 ¬ 820 1,0563 Iren IT0003027817 v 805 1,3964 CattolicaAss IT0000784154 v 779 0,8265 Piaggio IT0003073266 u 750 —66 InterpumpGr. IT0001078911 v 713 0,9067 Cr.Bergamasco IT0000064359 u 707 0,3668 IndesitCompany 698

Ordinarie IT0000076197 ¬ 698 1,19Risparmion.c. IT0000076320 u 0,25

69 EI TOWERS IT0003043418 ¬ 672 —70 SafiloGroup IT0004604762 ¬ 660 —71 Cir IT0000080447 ¬ 649 0,9272 RCS Mediagroup 643


73 Ima IT0001049623 ¬ 640 0,2674 Camfin IT0000070810 ¬ 590 1,3475 Marr IT0003428445 u 585 —76 Geox IT0003697080 u 580 —77 SAVE IT0001490736 ¬ 544 —78 Astaldi IT0003261069 u 539 1,0179 Italmobiliare 491


80 B.caIntermobil. IT0000074077 v 444 0,3281 Sol IT0001206769 v 436 0,2682 ZignagoVetro IT0004171440 ¬ 423 —83 Vittoria Ass. IT0000062882 v 421 0,5684 Moleskine IT0004894900 ¬ 420 —85 Cr.Valtellinese IT0000064516 u 412 1,1886 TreviFin. IT0001351383 v 396 1,3587 Dea Capital IT0001431805 u 389 0,5388 EngineeringI.I. IT0003029441 ¬ 381 0,22


la classifica di piazza affarititolo codice ten capital beta

isin mlnÁ prosptitolo codice ten capital beta

isin mlnÁ prosp

89 B.caIfis IT0003188064 ¬ 362 —90 Datalogic IT0004053440 u 356 0,3091 Acegas-Aps IT0003066146 v 353 0,6392 Cementir IT0003126783 ¬ 352 0,7893 Ascopiave IT0004093263 v 342 —94 Gr.L'Espresso IT0001398541 u 317 1,0695 Nice IT0003317945 u 302 —96 Cofide IT0000070786 ¬ 293 0,7997 IGD IT0003745889 ¬ 281 —98 Reply IT0001499679 ¬ 268 0,3299 Sogefi IT0000076536 ¬ 268 0,92

100 B.coDesio 254Ordinarie IT0001041000 ¬ 227 0,57Risparmion.c. IT0001281374 u 27 0,13

101 FalckRen. IT0003198790 u 252 0,96102 Mondadori IT0001469383 ¬ 250 0,87103 CairoComm. IT0004329733 v 227 0,68104 Tamburi Inv. Partners IT0003153621 v 223 —105 Gasplus IT0004098510 ¬ 216 —106 Bon.Ferraresi IT0000074135 ¬ 213 0,13107 Juventus IT0000336518 u 212 0,48108 Esprinet IT0003850929 ¬ 189 1,35109 B.caProfilo IT0001073045 ¬ 176 0,68110 FieraMilano IT0003365613 ¬ 174 0,57111 AlerionCleanp. IT0004720733 ¬ 164 0,40112 SaesGetters 163

Ordinarie IT0001029492 v 112 0,98Risparmion.c. IT0001037081 v 51 0,78

113 Caltagirone IT0003127930 ¬ 159 0,54114 Immsi IT0001413837 u 156 0,77115 Edison IT0003372205 ¬ 154 0,29115 TelecomItalia Media 151

Ordinarie IT0004600364 u 151 0,66Risparmion.c. IT0004600372 ¬ 0,39

116 LandiRenzo IT0004210289 u 150 —117 VianiniLav. IT0003127864 u 149 0,44118 PoltronaFrau IT0004114846 ¬ 146 —119 Mittel IT0001447348 v 135 0,48120 DeLclima IT0004772502 ¬ 132 —121 MutuiOnline IT0004195308 ¬ 125 —122 Risanamento IT0001402269 ¬ 123 1,15123 Cembre IT0001128047 v 123 0,42124 KmeGroup 122

Ordinarie IT0004552359 ¬ 107 0,61Risparmion.c. IT0004552367 ¬ 15 0,53Risparmio IT0004867930 ¬ —

125 MaireTecnimont IT0004251689 ¬ 120 —126 Sabaf IT0001042610 u 109 0,50127 CaltagironeEdit. IT0001472171 u 100 0,57128 Servizi Italia IT0003814537 ¬ 99 —129 B.caFinnat IT0000088853 ¬ 98 0,56130 Snai IT0000074903 ¬ 93 0,71131 MolecularMedicine IT0001080248 u 93 —132 B.caPop. Etruria Lazio IT0000060878 ¬ 93 0,99133 BasicNet IT0001033700 ¬ 92 0,30134 Carraro IT0001046553 u 89 1,29135 Emak IT0001237053 u 88 0,27136 Aeroporto Firenze IT0000346798 u 86 0,13137 Damiani IT0004249329 v 85 —138 PrimaIndustrie IT0003124663 ¬ 85 0,60139 Acotel IT0001469953 u 84 0,62140 Pininfarina IT0003056386 u 84 1,01141 SAT IT0000214293 ¬ 84 —

142 M&C IT0003955009 ¬ 81 —143 Retelit IT0004370463 ¬ 80 0,59144 TerniEnergia S.P.A. IT0004359037 u 80 —145 Tiscali IT0004513666 v 79 1,07146 FNM IT0000060886 ¬ 76 0,60147 Premafin IT0001475109 u 76 0,95148 Brioschi SviluppoImm. IT0000066180 u 75 0,99149 El.En. IT0001481867 u 75 0,73150 Bolzoni IT0004027279 v 75 —151 Elica IT0003404214 u 72 —152 Piquadro IT0004240443 u 70 —153 Biesse IT0003097257 u 68 1,35154 Beghelli IT0001223277 u 68 0,81155 Tesmec IT0004585243 v 68 —156 Aeffe IT0001384590 u 64 —157 Meridiana fly IT0004783467 ¬ 64 —158 RomaA.S. IT0001008876 u 63 0,39159 Prelios IT0003270615 u 61 1,57160 Ratti IT0004724107 ¬ 60 0,35161 Dada IT0001455473 v 60 0,93162 Ciccolella IT0000080421 u 58 0,63163 La Doria IT0001055521 v 57 0,26164 Acsm-Agam IT0001382024 v 55 0,77165 PanariaGroup IT0001467577 ¬ 55 —166 B.caPop. Spoleto IT0001007209 u 55 0,52167 B.coSardegna IT0001005070 ¬ 50 0,43168 Reno De Medici IT0001178299 u 47 0,48169 Txte-solutions IT0001454435 ¬ 46 0,45170 K.R.Energy IT0004841315 ¬ 44 0,97171 Eurotech IT0003895668 ¬ 44 —172 B&C Speakers IT0001268561 ¬ 42 —173 CAD IT IT0001489720 v 42 0,62174 Monrif IT0000066016 v 42 0,36175 Borgosesia 41

Ordinarie IT0003217335 ¬ 41 0,23Risparmion.c. IT0003217368 ¬ —

176 Valsoia IT0001018362 ¬ 41 —177 Premuda IT0003676282 u 41 0,50178 Irce IT0001077780 ¬ 41 0,38179 Pol.S.Faustino IT0001352217 u 40 0,40180 CSPInternational IT0001127874 v 40 0,52181 Aedes IT0000074028 u 38 1,14182 Isagro IT0001069902 u 38 —183 Gefran IT0003203947 u 36 0,73184 EnervitS.p.a. IT0004356751 u 33 —185 CobraAutomot. Tech. IT0001142022 u 32 —186 Exprivia IT0001477402 u 32 0,93187 ConafiPrestitò IT0004105653 ¬ 32 —188 Vianini Ind. IT0003127898 ¬ 31 0,24189 Stefanel 30

Ordinarie IT0004607518 u 30 0,86Risparmio IT0004607526 ¬ —

190 PoligraficiEditoriale IT0000086923 u 30 0,32191 S.S. Lazio IT0003621783 ¬ 29 0,55192 SeatPagine Gialle 29

Risparmio IT0004458151 v —Ordinarie IT0004458094 ¬ 29 —

193 AcquePotabili IT0004269327 ¬ 29 0,97194 Industria e Innovazione IT0004179088 u 28 —195 Kinexia IT0004441603 u 27 0,52196 SadiServizi Industr IT0001042297 u 25 0,63197 BeeTeam IT0001479523 u 23 1,16198 Fullsix IT0001487047 ¬ 23 0,25


la classifica di piazza affari

199 IlSole24 Ore IT0004269723 u 22 —200 Noemalife IT0004014533 v 21 —201 RCF Group IT0004223571 ¬ 21 —202 ClassEditori IT0001276408 u 21 0,87203 BiancamanoS.p.a. IT0004095888 ¬ 20 —204 Ergy IT0004370448 u 20 —205 Tas IT0001424644 u 20 0,54206 CIA IT0003389522 ¬ 20 0,40207 Mediacontech IT0001210902 u 19 0,59208 Bialetti Industrie IT0004222102 ¬ 19 —209 CapeListed IT0004222458 u 16 —210 CentraleLatte To IT0003023980 u 16 0,41211 DigitalBros IT0001469995 u 16 0,47212 Grandi Viaggi IT0001244026 u 15 0,24213 SSBT IT0003745129 u 15 —214 Bastogi IT0004412497 ¬ 15 0,64215 Ricchetti IT0003690283 ¬ 15 0,55216 Montefibre 15


217 Gabetti IT0000062650 u 14 1,15218 Zucchi 14


219 MondoTV IT0001447785 u 14 0,99220 EEMS IT0001498234 u 13 —221 ROSSS IT0004297575 ¬ 13 —222 Fidia IT0001498481 u 12 0,70223 Pierrel IT0004007560 u 12 —224 Chl IT0001446613 u 11 0,78225 ItWay IT0003057624 v 11 0,52

226 Olidata IT0001350625 u 10 0,78227 EuKedos IT0004818297 ¬ 9 —228 Bioera IT0004711203 ¬ 7 —229 Arena IT0001347175 u 7 1,10230 DmailGroup IT0004819030 ¬ 7 1,21231 MovieMax IT0003765267 u 6 —232 Le BuoneSocietà IT0001339321 ¬ 5 neg.233 AntichiPellettieri IT0004016504 u 5 —234 Investimentie Sviluppo IT0004748346 ¬ 5 1,13235 Crespi IT0001054904 u 4 0,64236 Sintesi IT0004659428 ¬ 4 0,52237 Meridie IT0004283807 u 4 —238 Cdc IT0001477337 ¬ 0 0,46239 Sopaf IT0003836720 ¬ 0 1,11240 Autos. Merid. IT0000084043 u 0 0,36241 RDB IT0000795549 ¬ 0 —242 Aicon IT0004167760 ¬ 0 —243 Pramac IT0001493581 u 0 —244 NOVA RE IT0001162509 ¬ 0 —245 Caleffi IT0003025019 ¬ 0 —246 BoeroB. IT0000066966 u 0 —247 CogemeSet IT0004092216 ¬ 0 —248 AiònRenew. IT0003926661 ¬ 0 —249 UniLand Spa IT0004375389 ¬ 0 —250 BestUnion Company IT0004273915 v 0 —

TOTALE 366987

titolo codice ten capital betaisin mlnÁ prosp

titolo codice ten capital betaisin mlnÁ prosp

I dati sono riferiti alla chiusura di giovedì. fonte: Ufficio Studi - Dati di tendenza forniti da FTA


l’elite delle borse mondiali elaborazione Ufficio Studi de Il Sole-24Ore su dati

1 Apple(USA) 312089,26 181,91 5,312 Exxon Mobil(USA) 303045,24 -0,97 2,663 Google(USA) 202189,36 68,45 4,454 Berkshire Hatw(USA) 200677,06 21,41 1,605 Wal Mart Stores(USA) 192594,38 41,55 3,626 Royal B.Scot.(GB) 190671,50 -90,59 0,457 General Electric(USA) 187362,07 -35,84 2,098 Microsoft(USA) 187142,75 4,02 4,539 IBM(USA) 180642,67 78,48 12,51

10 Nestle(CH) 179198,88 33,79 3,8211 Chevron Corp(USA) 176370,17 33,53 1,9212 Joh.&Johnson(USA) 174429,93 23,65 3,7913 Procter & Gamble(USA) 166529,88 12,91 3,4614 Pfizer(USA) 164575,12 43,02 2,5815 Roche(CH) 159761,14 24,79 16,3116 AT&T Inc(USA) 159630,14 -0,05 2,1317 Royal Dutch P.(NL) 159439,00 10,68 1,2218 Hsbc Holdings(GB) 150069,02 -7,69 1,2519 Novartis(CH) 149714,36 39,72 2,6720 Wells Fargo(USA) 149673,70 31,73 1,5321 Jp Morgan Chase(USA) 143752,87 12,29 1,0522 Toyota Motor(JP) 141705,81 10,35 1,6123 Coca Cola(USA) 140387,44 33,93 5,9824 Bhp Billiton(GB) 133751,75 10,98 2,8225 Anheuser-Busch(B) 124695,00 107,08 4,2326 Philip Morris Inc(USA) 119543,79 95,77 137,8727 Oracle(USA) 118920,98 64,94 3,7828 Verizon Comm.(USA) 109059,30 48,93 3,9029 Vodafone Group(USA) 108868,26 -7,21 1,1930 Vodafone Group(GB) 108262,05 18,92 1,2031 Merck & Co(USA) 108110,96 12,30 2,7532 Sanofi(F) 105603,00 62,86 1,8833 Citigroup(USA) 103953,08 -81,00 0,7434 Bank of America(USA) 101555,10 -67,31 0,6135 BP(GB) 101259,83 -17,82 1,1936 Unilever(NL) 96260,50 48,60 6,3437 Pepsico(USA) 95882,62 11,66 6,1138 Unilever(GB) 95689,40 62,36 6,3039 Amazon.com(USA) 91198,23 253,83 15,7940 GlaxoSmithKline(GB) 88996,37 39,34 10,0141 Total SA(F) 88627,30 -25,01 1,2442 QUALCOMM(USA) 88208,01 58,02 4,2243 Cisco Systems(USA) 85811,55 -10,69 2,5044 Comcast(USA) 83456,37 108,49 2,3845 Disney(USA) 82482,81 91,74 2,9346 Intel(USA) 81662,08 0,82 2,5947 Home Depot(USA) 81404,55 152,61 6,1948 BAT(GB) 80670,92 87,14 8,3849 McDonald's(USA) 78110,96 81,72 7,2950 Schlumberger(USA) 77820,57 -16,86 3,2151 L'Oreal(F) 74873,70 52,56 4,3352 Sap(D) 73439,90 78,93 5,5653 Siemens AG(D) 72321,20 16,14 2,2854 Rio Tinto(GB) 71701,45 -35,67 1,7555 Mitsubishi Fin Gr(JP) 71508,01 -30,83 0,9756 Volkswagen(D) 68610,90 43,90 1,2357 Bayer(D) 67073,70 55,23 3,4958 Lvmh(F) 67012,40 93,66 2,9759 United Tech.(USA) 66265,86 32,47 3,9060 R. Bk Of Canada(CAN) 65977,80 29,82 2,45

61 Eni(I) 65778,70 -22,52 1,2062 Sabmiller(GB) 63764,86 212,11 3,4463 Basf(D) 62915,80 52,24 2,6764 Amgen(USA) 62389,35 146,15 4,9765 Inditex(E) 62220,80 170,81 8,3966 Richemont(CH) 61827,63 142,77 3,8567 U.P.S.(USA) 61193,26 18,55 11,1668 Diageo(GB) 58356,69 85,57 9,4369 B. Santander(E) 58131,30 -52,81 0,6570 3 M(USA) 56738,42 34,03 4,9071 Toronto Dom.Bk(CAN) 56629,87 29,74 1,8472 Gilead Sciences(USA) 56596,36 90,94 11,1473 eBay(USA) 56509,93 79,29 4,1874 Conoco Phillips(USA) 55849,69 -0,36 1,6275 News(USA) 55427,79 65,19 2,7876 American Express(USA) 55394,93 45,14 4,0877 Altria Gr.(USA) 54397,75 64,41 17,7378 CVS/Caremark(USA) 53911,97 38,69 1,9879 Honda Motor(JP) 53425,20 34,21 1,5880 Goldman Sachs(USA) 52187,07 -12,37 1,1581 B Nova Scotia(CAN) 52055,98 24,95 2,3682 Bristol-Myers(USA) 51585,74 86,46 4,2783 Bnp Paribas SA(F) 51510,30 -36,47 0,7284 Boeing(USA) 50554,87 11,97 18,4985 Union Pacific(USA) 50534,31 117,38 3,6986 Sumitomo(JP) 50373,48 -36,28 1,2087 Ntt DoMo(JP) 50317,49 -4,78 1,2488 Facebook(USA) 50251,80 — 13,3589 Occidental P.(USA) 49813,16 3,52 1,7290 Eli Lilly & Co.(USA) 49785,95 9,93 4,3091 Allianz(D) 49379,30 -16,90 1,0992 Telefonica(E) 49151,00 -43,28 2,2193 Us Bancorp(USA) 48701,13 3,76 2,0794 Unitedhealth(USA) 48652,91 70,52 2,3795 AstraZeneca(GB) 48625,06 63,36 3,0096 Standard Ch.(GB) 47181,91 14,20 1,5697 Ubs(CH) 46863,33 -51,33 1,0698 Hennes & Mauritz(S) 46125,87 29,60 8,6599 American Intl(USA) 45765,40 -94,75 0,73

100 Nippon T&T(JP) 45555,36 -1,00 0,72101 Daimler(D) 45540,40 -16,20 1,14102 Barclays(GB) 44879,97 -33,89 0,67103 Bg Group PLC(GB) 44683,79 -10,13 2,02104 Honeywell Intl(USA) 44501,91 26,55 5,37105 Abbott Lab.(USA) 44396,45 43,83 4,94106 Bmw(D) 43633,30 89,28 1,67107 Time Warner(USA) 42521,40 97,50 2,03108 Caterpillar(USA) 42471,80 14,34 4,23109 Colgate(USA) 42386,98 50,22 22,73110 Nike(USA) 41213,89 78,98 5,55111 Kraft Foods(USA) 41073,44 49,11 1,47112 Mizuho Fin.(JP) 40573,73 -43,67 1,16113 Simon Property(USA) 40456,75 77,94 10,62114 Abb(CH) 40032,50 -22,59 3,29115 Lloyds PLC(GB) 39877,05 -78,15 0,71116 Ford Motor CS(USA) 39334,56 94,66 4,30117 Duke Energy(USA) 39241,48 32,23 1,44118 Reckitt Benck.(GB) 38971,46 69,78 5,83119 Celgene(USA) 38694,86 89,09 8,16120 Banco Boilbao(E) 37956,60 -48,21 0,88

classifica mondiale delle prime 120 società quotate per capitalizzazionetitolo mktcap var.% prezzo/ titolo mktcap var.% prezzo/

mln diÀ 5anni m.propri mln diÀ 5anni m.propri


quanto rendono i bond

areaeuro3EvrythgEvry Fin XS0811603090 BBB 08-18 101,906 2,853FerrovialEmis XS0879082914 BBB 01-18 102,347 2,842Postnl NL0006133175 BBB 11-17 110,796 2,823Edenred FR0011244367 BBB 05-22 107,450 2,811EnbwIntFin XS0207320242 A 01-25 120,389 2,813SaintGobn XS0760364116 BBB 03-22 106,311 2,813MondiFin XS0834719303 BBB 09-20 103,714 2,813UnioneDi Banche XS0850025627 BBB 10-15 102,250 2,813Omv XS0834371469 A 09-27 108,116 2,801GoldmnSachs XS0882849507 A 02-23 103,754 2,802ErsteGroup AT000B002886 A 04-19 114,288 2,792Autorts SudFra FR0010807503 BBB 09-24 128,621 2,792ReteElettrica XS0605214336 BBB 03-21 113,730 2,793Atlantia XS0744125302 BBB 02-19 109,101 2,782Edf FR0010961540 A 11-25 112,872 2,773EnelFin XS0842659343 BBB 04-18 103,933 2,771EuropeanUnion EU000A1A2KZ4 AAA 10-25 101,190 2,763Kpn XS0811124790 BBB 02-21 103,364 2,763SantndIntl Debt XS0828735893 BBB 03-16 105,167 2,763Caixabank ES0340609140 BBB 01-16 101,284 2,752GroupementChu FR0010757252 BBB 05-19 108,988 2,753HitFinance XS0602534637 BBB 03-18 113,521 2,752Wal-Mart XS0453133950 AA 09-29 127,846 2,743Bhp BillFin XS0834385923 A 09-27 105,980 2,741Banesto ES0313440150 BBB 04-15 100,586 2,733EsbFinance XS0856023493 BBB 11-19 109,760 2,731CieFin. Foncier FR0011178938 A 02-18 106,846 2,721Tele Fin XS0767278301 BBB 04-22 110,053 2,723SaintGobn XS0791007734 BBB 06-21 106,595 2,711EuropeanFin Sta EU000A1G0AT6 AA 04-37 111,661 2,703Anglo AmericaCa XS0764637194 BBB 03-22 106,207 2,703Rentokil Initial XS0832466931 BBB 09-19 103,909 2,702BarryClbaut Ser BE0933072291 BB 07-17 113,150 2,673EvrythgEvry Fin XS0742446700 BBB 02-17 102,946 2,673Vivendi FR0011076462 BBB 07-21 115,270 2,663Bouygues FR0011332196 BBB 01-23 108,109 2,661Strabg AT0000A0PHV9 BBB 05-18 109,900 2,652Accor FR0010784066 BBB 11-17 114,335 2,652Chu FR0010889253 A 04-20 106,143 2,653SocieteGenerale XS0802756683 A 07-22 112,908 2,653Snam XS0806449814 BBB 01-19 112,368 2,653Teliasonera XS0826189028 A 09-27 104,054 2,652A2A XS0463509959 BBB 11-16 106,199 2,641Eib XS0752034206 AAA 03-42 119,660 2,641DeutscheTel Int XS0847580353 BBB 10-24 101,020 2,642BhwBausparkasse DE000A0Z19B5 A 09-24 112,953 2,633Eutelsat FR0011339746 BBB 10-22 104,018 2,631Eu EU000A1GY6W8 AAA 04-42 122,608 2,623Bpce Sa FR0011390921 A 01-24 102,298 2,623Heineken Nv XS0811555183 BBB 08-25 102,607 2,622Edf FR0010800540 A 09-24 119,546 2,613Pgnig XS0746259323 BBB 02-17 104,974 2,611Eu EU000A1G30R0 AAA 04-38 114,236 2,592AmericaMovil XS0519902851 A 06-22 117,457 2,591Eib XS0219724878 AAA 10-37 125,341 2,583CeskeDrahy XS0807706006 BBB 07-19 108,779 2,583BbvaFinance XS0829721967 BBB 09-15 104,172 2,573PetrobasGlb Fin XS0835886598 BBB 04-19 103,710 2,57

1EuropeanFin Sta EU000A1G0AJ7 AA 03-32 119,488 2,563Mediobanca XS0842193046 BBB 10-15 102,803 2,563Rio Tint Finance XS0863127279 A 12-24 103,068 2,562Teliasonera XS0545428285 A 10-25 113,897 2,553IntesaSanpaolo XS0802960533 BBB 07-15 104,972 2,553Casino FR0011052661 BBB 05-21 115,764 2,543GasNaturalCap XS0741942576 BBB 02-18 111,015 2,542SocGen Accept FR0010522631 A 09-17 110,740 2,533Autorts SudFra FR0011394907 BBB 01-23 103,021 2,522Credit Agri Lon XS0526711832 A 07-20 109,746 2,513FonciereDes Reg FR0011345545 BBB 01-18 106,028 2,502E.OnInter Fin XS0347908096 A 02-23 126,085 2,502ReteElettrica XS0436320278 BBB 10-19 113,990 2,503FranceTelecom XS0827999318 A 03-23 99,990 2,503Bouygues FR0011193515 BBB 02-22 115,701 2,493PetrobrasIntl XS0716979249 BBB 03-18 110,825 2,491LanxessFinance XS0855167523 BBB 11-22 101,064 2,492Smbc XS0555833580 A 11-20 110,293 2,483IngBank XS0748187902 A 02-22 115,860 2,483Tdc XS0752467497 BBB 03-22 109,989 2,483PhilipMorris XS0787527349 A 05-24 103,794 2,481Bnp Paribas XS0847433561 A 10-22 103,232 2,481Eu EU000A1G1Q17 AAA 04-32 113,450 2,472Autorts SudFra FR0010491720 BBB 07-22 125,686 2,473TlefonicaEmisns XS0828012863 BBB 09-17 113,718 2,471Abinbev BE6243179650 A 09-24 104,066 2,462Abertis ES0211845237 BBB 10-16 107,126 2,463Bpce Sa FR0011280056 A 02-23 115,371 2,463AkzoNobl Sweden XS0809847667 BBB 07-22 101,299 2,463CarlsbergBrews XS0854746343 BBB 11-22 101,389 2,463JpChase Bk XS0883614231 A 02-23 102,496 2,463Edf FR0011318658 A 03-23 102,581 2,45

sterlina inglese3BatIntl Finance XS0468426266 A 11-34 129,478 3,904DigiStHld XS0876477810 BBB 01-25 103,449 3,884SpManweb XS0828007277 BBB 09-27 111,067 3,824GatwickFunding XS0733794407 BBB 01-26 113,988 3,803Pfizer XS0432072022 A 06-38 142,466 3,803Wal-Mart XS0279211832 AA 01-39 117,562 3,804Amgen XS0829324457 BBB 09-29 101,972 3,794SuezEnviron FR0011158849 A 12-30 119,510 3,794LndnQdrnt Hous XS0769361709 AA 12-33 112,444 3,753EastJapanRy XS0257129519 AA 06-34 115,584 3,753EastJapanRy XS0276809927 AA 12-31 112,796 3,741Elcty NorthWest GB0006421902 BBB 03-26 151,445 3,744TemasekFinancI XS0528414377 AAA 07-40 122,924 3,731Wal-Mart XS0202077953 AA 09-35 122,827 3,731London StEx Grp XS0846486040 BBB 11-21 107,515 3,711Rabobank XS0228265574 AA 08-29 109,996 3,683MarksSpencer XS0471074582 BBB 12-19 113,970 3,673NorthGas Finan XS0234964459 BBB 06-27 113,015 3,644Notting Hill XS0868031781 A 12-32 101,663 3,634Rio Tint Finance XS0863076930 A 12-29 104,107 3,634WellsFar XS0828013838 A 09-29 98,304 3,634ImperialTob Fin XS0683568223 BBB 09-26 119,115 3,634YorkshBradford XS0810290832 A 08-29 100,226 3,604Wales &West Fin XS0702020933 A 03-28 115,501 3,604Centrica XS0753789980 A 03-29 108,888 3,59

datial 11.04.2013 codiceisin rating obbligazioneemittente prezzo rend.

scad. indic. effet.


scad. indic. effet.


quanto rendono i bond

4NtnlGridElec XS0789331948 A 06-27 104,131 3,583WellcomeTrst Fn XS0261559594 AAA 07-36 115,738 3,584AngliWater Fin XS0764876693 A 10-27 110,258 3,543Wal-Mart XS0419834931 AA 03-34 130,529 3,544MorrisonSupermk XS0808629389 A 07-26 99,766 3,521NBritHsg Assoc XS0171888109 AA 07-24 115,324 3,491NlWaterschapsbk XS0130092793 AAA 06-32 125,661 3,484MotabilityOprtn XS0742069726 A 02-27 109,808 3,471Eib XS0096499057 AAA 04-39 125,283 3,474Amgen XS0710091140 BBB 12-26 121,505 3,464AmericaMovil XS0699618350 A 10-26 116,015 3,461Wal-Mart XS0121617517 AA 12-30 130,547 3,434Apt Pipelines XS0858000606 BBB 11-24 107,518 3,423Statoil XS0416848793 AA 03-31 145,023 3,421Eib XS0740808802 AAA 06-37 106,989 3,414Jpmorg Chas XS0866897829 A 12-26 101,611 3,354MorrisonSupermk XS0717069073 A 12-23 111,417 3,344Bae Systems XS0789683462 BBB 06-22 106,129 3,304GlaxoCap XS0866588527 A 12-27 100,673 3,284Tdc XS0593952111 BBB 02-23 119,385 3,26

yen giapponese4WorldBank XS0130637456 AAA 06-22 113,956 0,724Vlkwagen Leasing XS0818040874 A 08-15 99,841 0,614BayerHolding XS0769661843 A 04-17 100,772 0,614NatlAust Bank XS0786619253 AA 06-17 101,530 0,593Rabobank XS0295495245 AA 04-17 105,304 0,503Pfizer US717081CV36 A 02-16 103,669 0,491Eib XS0223267914 AAA 06-17 104,740 0,251Eib US298785DN35 AAA 06-17 104,778 0,254Eib XS0426254693 AAA 05-16 103,781 0,223Pfizer XS0245184188 A 02-16 104,661 0,163Nib US65562QAG01 AAA 04-17 106,399 0,104ProcterGamble XS0510936072 AA 05-15 101,832 0,07

dollaro usa1AtAndT Inc US00206RAN26 A 05-38 127,535 4,544QtelIntl Finan XS0881740384 A 01-43 99,500 4,531VerizonComms US92343VAK08 A 02-38 127,572 4,531AtAndT Inc US00206RAG74 A 01-38 126,044 4,531AtAndT Inc US00206RAD44 A 09-37 128,747 4,53

1BskybFinance Uk US11778BAB80 BBB 10-35 127,785 4,521AmericaMovil US02364WAJ45 A 03-35 125,447 4,521Amgen US031162BC38 BBB 03-40 119,243 4,501Amgen US031162BA71 BBB 02-39 128,666 4,501Amgen US031162AY66 BBB 06-38 135,776 4,504DeutscheTel Int US25156PAR47 BBB 03-42 106,033 4,494AmericaMovil US02364WBE49 A 07-42 98,083 4,491Dell US24702RAE18 BBB 04-18 105,162 4,484GrupoAvl USG42045AB32 BBB 09-22 102,125 4,471AtAndT Inc US04650NAB01 A 09-40 113,674 4,471PolarTankers USU7310PAA94 A 05-37 121,762 4,461Cargill USU14178CY81 A 04-34 122,459 4,461BskybFinance Uk USG1658KAB73 BBB 10-35 128,658 4,462CrownCastle USU2160AAQ95 A 01-37 115,250 4,451Tech Insu Amer USU87602AV70 AA 12-39 137,325 4,444DeutscheTel Int USN27915AB85 BBB 03-42 107,017 4,444IpicGmtn US44985GAE17 AA 11-41 139,000 4,441Zoetis USU98953AB50 BBB 02-43 104,334 4,431Altria Group US02209SAM52 BBB 08-42 97,377 4,414IpicGmtn XS0701227075 AA 11-41 140,000 4,404CnpcOverseas USG21895AC44 A 04-41 124,747 4,404Sasol Finac Intl US803865AA25 BBB 11-22 100,750 4,401Citigroup US172967FX46 BBB 01-42 124,025 4,391NyLife Ins USU64952AD36 AA 11-39 137,079 4,371VerizonComms US92343VBE39 A 11-41 106,040 4,371Motiva Enterpris USU61999AC95 A 01-40 139,363 4,344Cencosud USP2205JAH34 BBB 01-23 104,150 4,341Mondelez Int US50075NAR52 BBB 08-37 139,592 4,344TGaranti Banka USM8931TAF68 BBB 09-22 107,063 4,324Akbank USM0375YAK49 BBB 10-22 105,225 4,324Ebr XS0831571434 BBB 09-22 103,445 4,311SwisRe Trsry Us USU7514EAV21 A 12-42 98,871 4,314TGaranti Banka US900148AD90 BBB 09-22 107,139 4,313Metlife US59156RAY45 A 02-41 125,072 4,311Vodafone Group US92857TAH05 A 02-30 142,373 4,304Kogas US50066CAD11 A 01-42 131,975 4,301NrthwstMutlLfe USU66631AA74 AA 03-40 128,050 4,291KonPhilips US500472AC95 A 03-38 139,145 4,293AmerIntl Group US026874AZ07 BBB 05-36 128,618 4,284IntesaSanpaolo US46115HAJ68 BBB 01-18 98,319 4,26

fonte: Ufficio Studi su dati Thomson Reuters


scad. indic. effet.


scad. indic. effet.


bond bancari a cura di

IT0004897317 BcaPop Bergamo 13-163.10% (Tv) TassoMisto 3,10/Euribor6m+1 6 15/04/2013 15/04/2016 No — 2,55 2,31IT0004906803 CaRisp S Miniato 13-18 2.50% SU Step-Up 2,50/4,00 15 15/04/2013 15/04/2018 Si — 3 3,29IT0004907199 Bcc Padovana13-15 3.50% Fisso 3.5 3 15/04/2013 15/07/2015 No NR — 3,53 2,05IT0004907959 BcaCr Pop TorreDel Greco13-16 3% Fisso 3 15 15/04/2013 15/04/2016 No — 3,02 2,31IT0004908304 Biverbanca13-20 3% Fisso 3 10 15/04/2013 15/04/2020 No — 3,02 3,7IT0004908312 Biverbanca13-16 3% Fisso 3 20 15/04/2013 15/04/2016 No — 3,02 2,31IT0004908320 Biverbanca13-15 2% Fisso 2 25 15/04/2013 15/10/2015 No — 2,01 2,08IT0004908338 Biverbanca13-18 2.50% Fisso 2.5 15 15/04/2013 15/04/2018 No — 2,51 3,29IT0004908734 CaRisp S Miniato 13-20 4% Fisso 4 15 15/04/2013 15/04/2020 Si — 4,04 3,74IT0004908742 CaRisp S Miniato 13-20 Zc ZeroCoupon 4 10 15/04/2013 15/04/2020 Si — 4,08 3,74IT0004907967 BcoDesio 13-15 2.50% Fisso 2.5 10 16/04/2013 16/10/2015 Si BBB+ — 2,51 2,14IT0004907975 BcoDesio 13-18 3% Fisso 3 10 16/04/2013 16/04/2018 Si BBB+ — 3,02 3,33IT0004906399 BcaPop PugliaBasilicata 13-18 3%SU Step-Up/Call 3,00/4,00 20 19/04/2013 19/04/2018 No — 3,53 3,29IT0004906431 BcaPop PugliaBasilicata 13-15 2.30% Fisso 2.3 15 19/04/2013 19/04/2015 No — 2,32 1,78IT0004908825 BcoBrescia 13-162.20% (Tv) TassoMisto 2,20/Euribor6m+0,50 3 19/04/2013 19/04/2016 No — 1,76 2,31IT0004900210 Mediobanca 13-18Euro Stoxx 50Linked IndexLinked EuroStoxx 50 80 24/04/2013 24/04/2018 Si BBB+ 245 — —IT0004907785 Unicredit Sub13-20 4.50% (Tv) T.Misto/Sub 4,50/Euribor3m+2 1000 29/04/2013 30/06/2020 Si BBB+ 351 3,72 3,73IT0004907850 Unicredit Sub13-20 3.25% Step-Up Step-Up/Sub 3,25/6,50 1000 29/04/2013 30/06/2020 Si BBB+ 351 4,08 3,73IT0004899719 BcaPop Bergamo 13-163.50% (Tv) TassoMisto 3,50/Euribor3m+1 5 30/04/2013 30/04/2016 No — 2,78 2,31IT0004907355 BcoPop 13-17 2.55% (Tv) TassoMisto 2,55/Euribor3m+0,45/Cap3,25% 250 30/04/2013 30/04/2017 No Baa3 584 2,09 3,03IT0004907363 BcoPop 13-18 Zc ZeroCoupon 2.5 200 30/04/2013 30/04/2018 No Baa3 584 2,5 3,33IT0004907371 BcoPop 13-16 2.60% Fisso 2.6 250 30/04/2013 30/04/2016 No Baa3 584 2,61 2,34IT0004907645 Cr Bergamasco 13-17 2.55% (Tv) TassoMisto 2,55/Euribor3m+0,45/Cap3.25% 100 30/04/2013 30/04/2017 No BBB — 2,09 2,97IT0004907694 CredBergamasco 13-18 Zc ZeroCoupon 2.5 100 30/04/2013 30/04/2018 No BBB — 2,5 3,29IT0004907702 CredBergamasco 13-16 2.60% Fisso 2.6 100 30/04/2013 30/04/2016 No BBB — 2,61 2,31IT0004907777 CaRisp Orvieto 13-16 2.75% Fisso/Call 2.75 15 30/04/2013 30/04/2016 No — 2,77 2,31IT0004908221 BcaMed Friuli 13-18 Tv Variabile Irs10 Anni/Floor 2,70% 25 30/04/2013 30/04/2018 Si BBB — 2,71 3IT0004909260 Bnl13-18 4%(Tv) TassoMisto 4/Euribor3m/Cap4,50% 100 30/04/2013 30/04/2018 Si A- 155 1,65 3,29IT0004909567 Bnl13-163% Fisso 3 50 30/04/2013 30/04/2016 No A- 155 3,03 2,31IT0004908486 UbiBca 13-15 Tv Variabile Euribor6m+0,80 50 03/05/2013 03/05/2015 No BBB 321 2,01 2,35IT0004908494 UbiBca 13-15 1.60% Fisso 1.6 100 03/05/2013 03/05/2015 No BBB 321 1,61 1,96IT0004908502 UbiBca 13-16 2.50% (Tv) TassoMisto 2,50/Euribor6m+1,50 40 03/05/2013 03/05/2016 No BBB 321 2,19 2,31IT0004908510 UbiBca 13-16 1.90%(Tv) TassoMisto 1,90/Euribor6m+0,50 70 03/05/2013 03/05/2016 No BBB 321 1,56 2,31IT0004908528 UbiBca 13-16 1.50%Step-Up Step-Up 1,50/2,00 100 03/05/2013 03/05/2016 No BBB 321 1,75 2,31IT0004908536 UbiBca 13-15 2.25% Fisso 2.25 20 03/05/2013 03/05/2015 No BBB 321 2,26 1,96IT0004908759 UbiBca 13-16 2.50% Fisso 2.5 20 03/05/2013 03/05/2016 No BBB 321 2,51 2,31IT0004908767 UbiBca 13-16 2.40% Fisso 2.4 40 03/05/2013 03/05/2016 No BBB 321 2,41 2,31IT0004908775 UbiBca 13-15 2.50% (Tv) TassoMisto 2,50/Euribor6m+1 30 03/05/2013 03/05/2015 No BBB 321 1,93 1,96IT0004908783 UbiBca 13-15 3% Fisso 3 15 03/05/2013 03/05/2015 No BBB 321 3,02 1,96IT0004908817 BcaPop Bergamo 13-163% (Tv) TassoMisto 3/Euribor6m+1 5 15/05/2013 15/05/2016 No — 2,47 2,31IT0004908841 Intesa Sanpaolo13-192.80% SU Step-Up 2,80/4,20 650 15/05/2013 15/05/2019 Si BBB+ 355 3,41 3,55IT0004908858 Intesa Sanpaolo13-163% Fisso 3 400 15/05/2013 15/05/2016 Si BBB+ 355 3 2,34IT0004908999 Intesa Sanpaolo13-152% Fisso 2 600 15/05/2013 15/05/2015 Si BBB+ 355 2 2,02IT0004909005 Intesa Sanpaolo13-162.50% Fisso 2.5 500 15/05/2013 15/05/2016 Si BBB+ 355 2,5 2,34IT0004909013 Intesa Sanpaolo13-18 Tv Variabile Euribor3m+2,75 500 15/05/2013 15/05/2018 Si BBB+ 355 2,99 3IT0004899511 Mediobanca13-19 3.40% (Tv) TassoMisto 3,40/Euribor3m+1,40 20 17/05/2013 17/05/2019 Si BBB+ 245 2,21 3,54IT0004908478 UbiBca 13-16 3.50% (Tv) TassoMisto 3,50/Euribor3m+1 20 24/05/2013 24/05/2016 Si BBB 321 2,79 2,31

EMISSIONI"RETAIL" IN COLLOCAMENTO CON TAGLIO MINIMO INFERIORE A 50MILA EUROisin obbligazione tipologia tasso amm inizio dataquotratng cds rend rend

(1) tasso(1) mln godimento scadenza (3) (4) 5anni lordo stato(2) (5) scad (6)

LEGENDA1 Tipologia Tasso: Oltre a tasso fisso o variabile l’obbligazione può avere una struttura con Tasso Misto che passa da tasso fisso a variabile o viceversa; Subobbligazionisubordinateperlequali ipossessorisonosoddisfattisuccessivamenteaglialtricreditori incasodi liquidazionedell’enteemittente;Capobbligazio-neconunrendimentomassimo;Floorobbligazioneconunrendimentominimo;Callobbligazioneconfacoltàdirimborsoanticipatodapartedell’emittente;Putobbligazione con facoltà di rimborso anticipato da parte del possessore; le obbligazioni step down/step up corrispondono al possessore cedole decrescen-ti/crescentinelcorsodellavitadeltitoloinbaseaunaserieditassidi interessepredeterminatinelregolamentodiemissione,nellacolonnatassovieneindicatoilprimoel’ultimotasso annuo;per le tassovariabile ilparametropiù lospread2Ammontare: Dati inmilionidi euro3Quotazione: Impegnodell’emittente aquotare il titolo suunmercato regolamentatooMtfriportatonellecondizioni definitivedell’offerta.4Rating:Rating assegnatodaStandard&Poor, Moody'so Fitch.5 Cds: I Credit Default Swap sono contratti bilaterali in cui un soggetto (protection buyer), a fronte di pagamenti periodici effettuati a favore della controparte(protection seller), si protegge dal rischio di credito associato ad un determinato sottostante (reference asset), che può essere costituito da una specificaemissione, da un emittente o da un intero portafoglio di strumenti finanziari. I Cds rappresentano una copertura contro l’insolvenza in caso di default di unemittente.Maggiore ilvaloredel Cds,maggioreè il rischio dicreditopercepito.6Rendimento Titolo diStato: Rendimento effetivolordo di untitolodi Stato italiano(BTp/CcT)di similaredurataresidua.


inflation linked a cura di

BTpItaliaIT0004806888 mar-16 2,45% 101,55 3,70 3,32 1,0004IT0004821432 giu-16 3,55% 104,72 3,77 3,39 1,0028IT0004863608 ott-16 2,55% 101,39 3,94 3,55 1,0043BTplegati all'inflazione europeaIT0003625909 set-14 2,15% 103,40 1,63 1,34 1,20056IT0004682107 set-16 2,10% 102,71 3,14 2,92 1,05312IT0004085210 set-17 2,10% 101,85 3,52 3,34 1,14330IT0004380546 set-19 2,35% 101,25 4,00 3,96 1,08897IT0004604671 set-21 2,10% 95,71 4,55 4,63 1,06578IT0004243512 set-23 2,60% 96,57 4,87 5,06 1,12310IT0004735152 set-26 3,10% 99,95 5,00 5,29 1,04324IT0003745541 set-35 2,35% 87,24 5,04 5,44 1,17598IT0004545890 set-41 2,55% 85,89 5,21 5,70 1,06880

BTpIT0004780380 nov-14 6,00% 107,13 1,42 101IT0004840788 lug-15 4,50% 105,39 2,04 157IT0004761950 set-16 4,75% 107,31 2,52 192IT0004867070 nov-17 3,50% 101,95 3,06 222IT0004361041 ago-18 4,50% 106,01 3,28 237IT0004489610 set-19 4,25% 104,37 3,51 239IT0004594930 set-20 4,00% 102,20 3,69 238IT0004695075 set-21 4,75% 106,20 3,91 252IT0004848831 nov-22 5,50% 109,81 4,28 279IT0004644735 mar-26 4,50% 100,97 4,45 246IT0003256820 feb-33 5,75% 110,48 4,98 285IT0003934657 feb-37 4,00% 88,78 4,85 229IT0004532559 set-40 5,00% 100,54 5,02 264

BTPREALI E NOMINALI A CONFRONTOtitolidistato inflationlinked a confronto coni piùtradizionali btp a tasso fisso.dati al11.04.2013isin scadenza cedola prezzo rendim rendim index isin scadenza cedola prezzo rendim asw

ascad. (1) swil (2) ratio(3) ascad.(1) spread(4)

GUIDAALLA LETTURALe due tipologie di BTp inflation linked sono prodotti che rispetto ai normali BTp nominali, oltre a prevedere il rimborso del valore nominale a scadenza,offrono unrendimento indicizzato all'andamento del costo della vita. In particolare i BTp Italia è un titolo indicizzato all'inflazione italiana (indice Foi dei prezzi al consumo),mentre i BTpEi in circolazione sono agganciati all'inflazione dell'area euro. I BTp Italia retrocedono l'inflazione insieme alla cedola, ogni sei mesi. I BTp legatiall'inflazione area euro, invece, riconoscono tutta la rivalutazione legata alla crescita del carovita a fine periodo. Pertanto, a differenza dei BTpEi che rimborsano ascadenzailvalorenominalerivalutato,moltiplicandoilcapitalenominalesottoscrittoperilcoefficientediindicizzazione, ilBTpItaliarimborsainun'unicasoluzionea scadenza soltanto il valore nominale (100) che non viene cioè aggiustato per l'inflazione del periodo. La remunerazione semestrale offerta dal BTp Italia è paridunque alla somma tra la cedola aggiustata per l'inflazione più la rivalutazione del capitale. Inoltre, a differenza dei BTpEi, che prevedono una protezione dalladeflazione (variazione percentuale negativa dei prezzi) o floor sul capitale e soltanto a scadenza, il BTp Italia offre una protezione anche sulle cedole, venendocomunquecalcolatesulcapitalenominalesottoscritto: incasodideflazioneinundeterminatosemestre, ilcoefficientedi indicizzazionemodificatoeutilizzatopericalcolièparia1(limiteinferiore).Infine,percalcolareilcoefficientedi indicizzazionedeiBTpEisideverapportarel'inflazionediriferimentodelladatadiregolamen-todell'operazionedicompravenditaall'inflazionediriferimentodelladatadigodimentodeltitolo.PerilBTpItalia,aldenominatorecomparel'inflazionediriferimen-to (numero indice) della data di pagamento della cedola precedente oppure, se si tratta della prima cedola, della data di godimento del titolo. I risparmiatori chedetengonoiBTpItalia dall'emissionealla scadenza avrannoalrimborsoanche unpremiofedeltà pari allo 0,4%lordosul valorenominale.1 Rendimento a scadenza: Rendimento a scadenza: rendimento calcolato considerando costante il livello del tasso di inflazione attuale, pari al 2,4% per l’Italia e al2,4%per l’area euro.2 Rendimento a scadenza Swil: Rendimento a scadenza Swil: Rendimento calcolato considerando le previsioni di inflazione media futura del mercato degli "infla-tionswap".Quest'ultimi, anchedenominati con l'acronimoSwil,sono operazioni finanziarieattraverso le qualiduecontroparti istituzionali identificanoun tassodiinflazionemedio,relativoadundeterminatoperiododitempofuturo.Sel'inflazionesaràsuperioreunacontropartepagheràall'altraladifferenzaeviceversa.Pergliinvestitorigli inflation swapsonoutili perverificare le aspettativedi inflazionefutura dapartedei grandioperatori internazionali.3 Index ratio:È l'indice per il qualeva moltiplicato il prezzoe idietimi perdeterminare l'effettivoesborso (o incasso)monetario.4AswSpread: indica il differenzialedirendimento trauna determinataobbligazione atassofisso eil livellodi tassodella curvadegli InterestRateSwap(Irs) dipariscadenza. Tanto maggiore è il Asw Spread, tanto più elevato è il rischio di credito associato dal mercato a quel determinato emittente alle diverse scadenze, inquestocasolaRepubblica Italiana.


due scenari per i bond a cura di

IT0004869985 Atlantia30-11-18 3.625% BBB 30-11-2012 30-11-2018 2479 102,383 3,15 -0,27 5,14 — 1,23 1,07 5,22IT0004794142 Enel20-02-18 4.875% BBB 20-02-2012 20-02-2018 2257 106,850 3,32 0,14 4,43 10,60 0,39 1,60 5,03IT0004645542 Mediobancanv-20 5%subord BBB 15-11-2010 15-11-2020 1472 102,035 4,67 0,90 6,39 11,15 0,53 1,89 7,31IT0004576978 Enel26-02-16 3.5% BBB 26-02-2010 26-02-2016 1429 103,799 2,12 -0,14 2,77 7,38 0,94 1,23 3,00IT0004842370 Ubi08-10-19 6%subord 08-10-2012 08-10-2019 632 104,210 4,99 1,93 3,98 — 1,65 3,42 6,41IT0004608797 Mediobancamg-204.5% BBB 14-05-2010 14-05-2020 580 102,662 4,06 0,33 6,00 10,46 0,79 1,40 6,44IT0004760655 Eni11-10-17 4.875% A 11-10-2011 11-10-2017 526 112,714 1,89 -1,17 4,08 10,84 0,02 0,32 3,42IT0004698178 Crediop07-03-16 4.85% 07-03-2011 07-03-2016 494 99,910 4,88 2,61 2,76 16,96 1,40 3,97 5,73IT0004771710 Mps30-11-17 su 30-11-2011 30-11-2017 486 102,766 5,02 1,91 4,15 4,55 -0,17 3,36 6,53IT0004503717 Eni29-06-15 4% A 29-06-2009 29-06-2015 480 106,491 1,01 -0,90 2,10 5,29 1,01 0,42 —IT0001200390 Comit17-02-28 zc BBB 17-02-1998 17-02-2028 438 47,803 5,10 0,32 14,85 22,23 -0,35 -1,65 12,20IT0004618507 Crediop28-06-16 3.6% 28-06-2010 28-06-2016 437 95,978 4,98 2,54 3,00 18,85 1,70 3,83 5,86IT0004645963 Ubi05-11-17 4.3% subord 05-11-2010 05-11-2017 419 100,528 4,11 2,01 2,37 8,32 0,15 2,90 4,39IT0004718489 Ubi16-06-18 5.5% subord 16-06-2011 16-06-2018 345 103,129 4,46 2,03 2,88 8,20 1,57 3,38 5,29IT0004783046 Mediobancadc-17 zc BBB 12-12-2011 12-12-2017 317 85,326 3,46 0,34 4,66 12,70 -0,75 1,66 5,32IT0001205589 Mc.Lombardo fb-28 zc 18-02-1998 18-02-2028 316 47,221 5,18 0,40 14,85 17,14 -0,95 -1,50 12,37IT0004787476 Unicredit 16-03-186.1% 16-03-2012 16-03-2018 261 108,899 4,06 0,86 4,40 — 1,79 2,37 5,78IT0004723489 Ubi30-06-18 5.4% subord 30-06-2011 30-06-2018 258 102,244 4,68 2,23 2,92 6,17 0,68 3,58 5,52IT0000966017 Comit08-01-27 zc BBB 08-01-1997 08-01-2027 242 50,551 5,09 0,40 13,74 20,73 1,66 -1,09 11,67NL0009061357 Rbs08-10-16 4.3% A 08-10-2009 08-10-2016 241 107,943 1,95 -0,66 3,27 13,12 0,15 0,78 3,06NL0009054907 Rbs20-04-19 5.5% A 20-04-2009 20-04-2019 210 113,100 3,11 -0,43 5,15 18,19 0,57 0,96 5,15IT0004572878 Ubi23-02-17 3.1% subord 23-02-2010 23-02-2017 205 99,000 3,58 1,59 2,26 12,13 1,10 2,76 4,07IT0004825029 Unicredit 24-08-18 5.65% 24-08-2012 24-08-2018 203 107,036 4,15 0,81 4,65 — 1,34 2,20 5,88NL0009354505 Rbs22-02-16 4% 22-02-2010 22-02-2016 171 105,739 1,92 -0,33 2,75 11,53 1,28 1,03 2,78NL0009483825 Rbs22-06-205% 22-06-2010 22-06-2020 155 112,100 3,13 -0,61 6,12 21,45 1,36 0,52 5,66IT0004808421 Unicredit 21-05-185% 21-05-2012 21-05-2018 144 104,565 3,99 0,73 4,45 — 1,53 2,09 5,59IT0006707159 Barclays29-12-15 4.4% 29-12-2009 29-12-2015 138 108,860 1,06 -1,11 2,59 7,06 1,43 0,25 —NL0009287614 Rbs11-12-194.6% A 11-12-2009 11-12-2019 129 108,361 3,24 -0,42 5,79 17,87 1,40 0,79 5,60IT0001308508 Mps15-02-29 sd/oc BBB 15-02-1999 15-02-2029 125 82,207 6,25 1,42 15,85 11,58 -11,61 -0,85 14,02IT0001203253 Mc.Centrale fb-28 zc 10-02-1998 10-02-2028 120 47,208 5,19 0,41 14,83 18,95 -0,95 -1,48 12,37NL0009056563 Rbs26-06-16 zc A 26-06-2009 26-06-2016 105 92,007 2,64 0,20 3,20 11,36 0,30 1,53 3,73IT0006703208 Barclays21-07-196% A 21-07-2009 21-07-2019 102 120,750 2,39 -1,19 5,31 13,16 3,61 0,17 4,52IT0001086658 S.Paoloimige-22 zc BBB 30-01-1997 30-01-2022 100 70,746 4,01 -0,09 8,80 14,54 -3,90 0,19 7,99XS0626808496 Ge.Eurfundgn-17 3.625% A 15-06-2011 15-06-2017 100 109,091 1,36 -1,59 3,85 9,32 1,64 -0,09 2,79IT0006719469 Rbs26-05-17su 26-05-2011 26-05-2017 98 109,104 2,44 -0,50 3,76 14,32 1,03 1,00 3,79NL0009537851 Rbs30-09-16 tf/su A 03-09-2010 30-09-2016 84 105,000 2,42 -0,17 3,28 12,63 1,79 1,27 3,56IT0003855779 Unicreditomg-15 su call 30-05-2005 30-05-2015 75 101,840 3,53 1,66 2,02 5,39 0,02 2,90 3,95IT0001302733 Mps01-02-29 sd/oc BBB 01-02-1999 01-02-2029 59 84,136 6,27 1,44 15,81 8,47 -9,02 -0,90 13,92IT0004863723 B.Imi18-10-19 4.1% 18-10-2012 18-10-2019 58 102,520 3,65 0,02 5,75 — 0,82 1,25 6,02IT0001306171 Mc.Centrale fb-19 sd/oc 18-02-1999 18-02-2019 55 113,810 4,83 1,34 5,85 12,20 0,48 2,46 7,31IT0004874985 Ubi31-01-17 su 31-01-2013 31-01-2017 54 101,782 3,03 0,25 3,59 — — 1,71 4,31IT0004821846 Kme03-08-17 8% call 03-08-2012 03-08-2017 53 104,251 6,81 3,81 3,63 — 1,30 5,13 7,81IT0001304010 Interbanca fb-21sd/oc 16-02-1999 16-02-2021 51 102,118 5,02 1,23 7,85 19,75 1,87 1,68 8,53XS0584356942 Bankamericage-26 5.25% call 31-01-2011 31-01-2026 51 107,335 4,48 -0,12 9,68 14,12 3,27 0,17 8,85IT0004729452 Crediop07-12-17 5% 07-06-2011 07-12-2017 43 100,971 4,75 1,64 4,20 14,29 1,79 3,08 6,30DE000UB2F5S4 Ubs29-07-17 4% A 29-07-2010 29-07-2017 41 108,732 1,86 -1,14 3,94 8,92 1,03 0,34 3,31IT0001287249 Mc.Centrale dc-18sd/oc A 23-12-1998 24-12-2018 33 114,668 4,82 1,38 5,70 14,10 0,94 2,51 7,21IT0004821499 Mediobancalg-16 4.45% BBB 13-07-2012 13-07-2016 25 103,550 3,27 0,80 3,00 — 0,21 2,16 4,20IT0004869860 Ubi31-12-15 su 31-12-2012 31-12-2015 25 100,800 3,17 0,99 2,61 — 1,14 2,31 3,93IT0004874993 Ubi31-01-16 3.5% 31-01-2013 31-01-2016 24 101,507 2,95 0,73 2,67 — — 2,07 3,76IT0004655533 Crediop08-11-24 4.5% call 08-11-2010 08-11-2024 21 93,000 5,32 0,83 8,99 21,33 0,53 1,29 9,31IT0004821689 Intek03-08-17 8% call 03-08-2012 03-08-2017 19 104,800 6,66 3,66 3,64 — 1,77 5,00 7,68IT0006715426 Barclays16-06-22 4.6% 16-06-2010 16-06-2022 18 113,500 2,90 -1,30 7,54 13,56 3,43 -0,42 6,16IT0001304341 B.Imi01-02-24 sd/oc 01-02-1999 01-02-2024 17 125,246 5,35 0,92 10,81 22,63 0,20 0,59 10,40IT0006706318 Barclays06-10-19 zc A 06-10-2009 06-10-2019 17 82,509 3,01 -0,62 6,48 12,50 1,82 0,31 5,80IT0001312708 Centrobancamz-19 sd/oc 16-03-1999 16-03-2019 13 97,908 4,21 0,70 5,93 19,31 0,92 1,77 6,70IT0004796451 B.Imi06-03-18 su 06-03-2012 06-03-2018 13 102,600 3,65 0,46 4,54 10,45 0,21 1,88 5,42NL0009694272 Rbs14-02-21 5.3% A 14-02-2011 14-02-2021 12 109,480 3,91 0,12 6,54 16,97 -2,63 1,13 6,69IT0004851728 Ubi19-10-16 su 19-10-2012 19-10-2016 11 101,126 4,35 1,73 3,24 — 0,07 3,11 5,38IT0004650781 Crediop22-10-20 zc 22-10-2010 22-10-2020 8 75,500 3,80 0,04 7,53 20,62 1,59 0,63 7,16IT0001308607 Crediop26-02-24 sd/oc AA 26-02-1999 26-02-2024 7 94,281 7,16 2,73 10,87 19,36 -4,68 2,35 12,23NL0009294305 Rbs19-04-17 su 19-04-2010 19-04-2017 5 105,560 2,90 — 3,70 10,56 0,96 1,47 4,20NL0009677939 Rbs09-03-17su A 09-03-2011 09-03-2017 5 104,300 2,86 0,02 3,63 9,80 -0,11 1,50 4,16

datial 10.04.2013 titolo rating data data quantità prezzo rend spread dura- performance perf.fra1 annoisin emissione scadenza media listino effett rend/ tion da da rend rend

trattata lordo stato lorda 1anno 3 mesi +0,5% -0,5%

SKIPPERi n f o r m a t i c a


due scenari per i bond

DE000UB43CW1 Ubs26-07-21 4.3% 26-01-2011 26-07-2021 2 110,000 2,92 -0,98 7,01 13,32 1,87 -0,13 5,92XS0604339928 Citigroup18-03-20 sucall BBB 18-03-2011 18-03-2020 2 109,100 2,87 -0,84 6,19 12,93 2,16 0,31 5,51GB00B6HZ3S81 Rbs02-06-174.7% 23-05-2011 02-06-2017 1 107,500 2,78 -0,16 3,76 10,65 -0,72 1,33 4,12IT0004743875 Mediobancaag-163.7% BBB 16-08-2011 16-08-2016 1 102,500 2,90 0,38 3,13 6,88 0,88 1,75 3,91NL0009288141 Rbs03-12-24 oc call 03-12-2009 03-12-2024 1 134,000 4,35 -0,15 11,64 24,04 0,35 -0,83 9,82NL0009670090 Rbs27-02-194.25% 11-01-2011 27-02-2019 1 107,000 2,96 -0,53 5,26 18,64 -0,94 0,81 5,08

datial 10.04.2013 titolo rating data data quantità prezzo rend spread dura- performance perf.fra1 annoisin emissione scadenza media listino effett rend/ tion da da rend rend

trattata lordo stato lorda 1anno 3 mesi +0,5% -0,5%

GUIDAALLA LETTURAI titoli in tabella sono stati selezionati sulla base delle seguenti caratteristiche : quotati sui mercati Mot ed Euromot, di emittenti bancari o corporate, a TassoFisso, StepUp, StepDown e Zerocoupon con vita residua di almeno due anni, con lotto minimo acquistabile non superiore a 10mila euro e con una quantitàtrattata media negli ultimi 10 giorni di almeno mille euro. Isin: Codice identificativo del prestito obbligazionario- Descrizione: Descrizione dell’emittente, delladata di scadenza e delle principali caratteristiche anagrafiche secondo la seguente legenda: su: step-up, sd: step-down, oc: one coupon, zc: zerocoupon, tf:tasso fisso, subord: obbligazioni subordinate per le quali i possessori sono soddisfatti successivamente agli altri creditori in caso di liquidazione dell’enteemittente, call: obbligazione con facoltà di rimborso anticipato da parte dell’emittente. Data Scadenza: è la data in cui viene rimborsata l’ultima quota dicapitale (normalmente l’unica) del titolo. Rating: Giudizio sull’affidabilità dell’emittente in merito al pagamento delle cedole e dei rimborsi previsti dal titolo.Quantità media trattata: è la quantità media giornaliera trattata sul mercato negli ultimi 10 giorni lavorativi. In migliaia di euro. Prezzo di listino: prezzo dichiusura sul mercato di quotazione del titolo (MOT o EuroMOT):per i titoli zerocoupon si intende tel-quel, cioè comprensivo della parte di interessi maturataalladata,altrimentisi intendesemprecorsosecco,cioènoncomprensivodelrateocedola. Rend.Lordo %: indicail rendimentoeffettivolordonell’ipotesicheiltitolo venga tenuto fino a scadenza eche tutti i flussi vengano reinvestitiallo stesso tasso. Duration Lorda: è la vita media finanziaria espressa in annie frazionid'anno: è il baricentro temporale dei flussi (cedole e rimborsi) futuri attualizzati. La duration rappresenta un indicatore di rischio: maggiore è la duration,maggioreèlarischiosità intesacomereattivitàdelprezzodeltitoloalvariaredelsuorendimento.Spread %:esprimeladifferenzadirendimentoeffettivolordodell’obbligazione rispetto ad un titolo di Stato Italiano di similare durata. Performance passate: Rappresenta il rendimento di periodo ottenuto nel caso diacquisto dell’obbligazione nel passato (un anno fa o tre mesi fa) e di vendita sul mercato alla data di riferimento e al prezzo di listino, ipotizzando il nonreinvestimento dei flussi incassati nel periodo. Performance tra 1 anno: Indica il rendimento di periodo che si otterrebbe in caso di acquisto dell’obbligazione,alladatadiriferimentoealprezzodi listino,edivenditadeltitolotraunanno,afrontediunoscenariodivariazionedeitassirispettivamentepositivoonegativodi50basis pointse nell’ipotesidi nonreinvestire glieventuali flussiche saranno incassatinel periodo:Rend +0.5%: performance prevista incaso di aumentodeitassidi interessedi 0.5%;Rend –0.5%: performanceprevista incasodi diminuzionedei tassi di interessedi 0.5%.


obbligazioni convertibili a cura di

B.ca Intermobiliare07/15 Sub 1,500 7,500 1,000 164 94,72 2,84 -0,30 +0,71 3,59 37,9 150,6BancaCarige 12/13Sub 1,500 2,187 1,143 330 114,76 0,51 -0,01 +11,20 2,99 23,2 397,8Banco Popolare 03/14 4,750 6,150 1,000 510 99,97 1,01 +0,15 +11,55 4,77 16,4 510,1Cogeme SET03/14 * 6,000 1,300 1,000 30 — 1,00 — — — 3,7 —Eukedos11/16 3,000 1,400 0,857 186 62,00 0,49 -2,50 -1,01 18,19 35,0 80,8Sias06/17 2,625 10,500 1,000 35 98,25 7,76 +0,05 +2,31 3,07 74,0 33,7Sopaf 12/15* 3,875 0,880 1,000 — — 0,02 — — — 0,8 —Sopaf 12/15* 9,000 0,218 10,000 — — 0,02 — — — 3,4 —UBI Banca07/13 5,750 12,750 1,000 336 100,40 2,92 -0,18 +8,22 3,85 22,9 338,7(Noriskprestaoccasionalmenteeautonomamenteattivitàdi consulenzaafavoredegliemittentidegli strumenti finanziarioggettodi analisi)

LEGENDA*Titolosospeso.PrezzoConversione: il valore,determinatoall'emissioneed espressointerminidi valorenominaledell'obbligazione, alquale l'obbligazionepuòessereconvertita inun'azione.RapportoConversione:numero diazionidi compendionellequaliun'obbligazioneèconvertibile.Distanzastrike:rapporto traprezzoconversioneequello dell'azionesottostante.Rendimento ascadenza:"yieldto worst"ovvero ilminimorendimentoottenibilenelcaso incui l'emittentenonfallisca,calcolatotenuto contodel peggiorescenario possibile inbasealle condizionidel prestito(e.g. clausoledirimborsoanticipato,opzioni sullecedole). Parità:valoredellaconversione,espresso intermini %sulnominale,qualora l'obbligazione fosseconvertitanell'azionesottostanteal prezzocorrente dimercato, tenutoconto delrapportodi conversione.PremioConversione:differenzatra ilprezzodell'obbligazionee lasuaparità,espressa intermini%sulla parità. Indica ladistanza dallacondizionediconversione: unpremiopiùelevato implicaunamaggiore prevalenzadellacomponenteobbligazionaria,mentre unpremiopiùcontenutounamaggioreprevalenzadella componenteopzionale.CARATTERISTICHE DELLE OBBLIGAZIONIB.Pop. Etruria Lazio 06/16 Sub: subordinata,cedolaannuale, convertibilesu richiestadell’obbligazionistasinoal 5giorno lavorativoprecedente lascadenza(24/6/2016).L’emittente eserciterà l’opzionedi rimborsoanticipato inequity il28/12/2012. Bim 07/15: subordinata,cedolaannua, facoltàdi rimborsoanticipatoCALLdecorsi 18mesidall’emissione(dal29/01/07). Inizioperiodo convertibilità01/01/07;fine periodoconvertibilità31/03/15. Banca Carige1,5%12/13: subordinata, inizioperiodoconvertibilità01/01/06, fineconvertibilità31/10/13.L’emittente halafacoltàdi noneffettuare ilpagamentodegliinteressiqualoranonsiano rispettati i requisitiprevisti dalle Istruzioni diVigilanzadella Bancad’Italia equaloranonsiastatadeliberata ladistribuzione deidividendi. Il rimborsodelcapitale ascadenza,alpremiodi 116,èsubordinato alpreventivo consensodellaBanca d’Italianel rispetto deirequisitipatrimonialiprevisti.Banco Popolare03/14: cedolaannua,convertibilidal 26/09/2011,dirittodiriscatto totaleo parzialedecorsi18 mesidall’emissione(26/09/2011)conpagamentoincontantie/o azioniedunpremiodel10% sulnominale.Bper 12/12 Sub: subordinata, facoltàdirimborsoanticipato CALLdal04/12/08 al31/12/12, conpreavvisodi 30giorni. Convertibilitàdal01/07/09al31/12/12.CapeLive 07/14: emittenteinconcordatopreventivo. L’obbligazioneverràrimborsata in funzionedell’esitodiunaumento dicapitale incorso. Incasodiesitosfavorevole dell’aumentodicapitale ilbondverràforzosamenteconvertito inazioni(12azioniogniobbligazione)od unrimborsomisto(azioni/contante).Cogeme SET 03/14: società in liquidazionee concordatopreventivo. Rimborso in funzionedell’esitodella procedura.Eukedos11/16:cedola annua, rimborsabile inanticiposu richiestadegli obbligazionisti incasidi inadempienze dell’emittente, rimborsabile inanticipodapartedell’emittentese ilnominale incircolazione risulta inferiorea5 mln€. Sopaf 12/15 *:domandadirimborsoanticipato in funzionedella proceduradiliquidazionedella società.Sias06/17: inizio periodoconvertibilità01/07/10; fineperiodoconvertibilità31/05/17. Ubi Banca 20135,75%: facoltàdirimborsoanticipatoCALLadognidata pagamentocedole,conpreavviso dialmeno 23giorni,dal 10/01/11al 10/07/13.L’emittente hafacoltàdi effettuare ilrimborso inazioni,contanti o azionie contanti.Convertibilitàdal 10/01/11al03/07/13.

titolo cedola strike rapporto distanza ultimoprezzo var.settimanale rend. a parità premioannua% convers. convers. strike obbligaz sottost obbligaz sottost scadenza convers.%


obbligazioni subordinate a cura di

LOWERTIER IIXS0322918565 Unicredit 5,750 26.09.2017 EUR Baa3 BBB BBB 104,69 — 4,550 — 50DE000CB83CE3 Commerzbank 6,375 22.03.2019 EUR Ba1 BBB BB+ 107,80 — 4,820 — 1XS0191752434 Bankof America 4,750 06.05.2019 EUR Baa3 BBB+ BBB 100,44 4,310 2,965 06.05.2014 3MEuribor+146 BP 1XS0429484891 Rabobank 5,875 20.05.2019 EUR A2 A AA- 119,64 — 2,363 — 50XS0301810262 Santander 4,750 29.05.2019 EUR Baa3 BBB- BBB 87,00 18,636 5,090 29.05.2014 3MEuribor+80 BP 50XS0433028254 Hsbc 6,000 10.06.2019 EUR A3 A- A+ 121,08 — 2,270 — 50XS0526326334 IntesaSanpaolo 5,150 16.07.2020 EUR Baa3 BBB BBB 102,64 — 4,700 — 50XS0229593529 IngBank 3,500 16/09/2020 EUR Baa2 BBB+ A- 98,62 4,103 3,396 42263 3MEuribor+136 BP 50XS0159527505 Allianz 6,500 13.01.2025 EUR A2 A+ A 108,47 1,547 4,200 13.01.2015 3MEuribor+277 BP 1XS0802638642 Generali 10,125 10.07.2042 EUR Baa3 BBB+ BBB- 120,51 7,018 9,015 10.07.2022 3MEuribor+918.1 BP 100TIERIXS0225369403 Bayer 5,000 Perpetual EUR Baa3 BBB- BBB+ 106,25 2,106 4,975 29.07.2015 3MEuribor+280BP 1XS0542298012 Rwe 4,625 Perpetual EUR Baa2 BBB- BBB 103,93 2,935 4,880 28.09.2015 5YRMid Swap+265BP 1FR0010289496 Vinci 6,250 Perpetual EUR Baa3 BBB- BBB- 108,02 2,966 5,830 13.11.2015 3MEuribor+375 BP 50XS0234434222 Henkel 5,375 Perpetual EUR Baa1 BBB BBB+ 108,00 2,180 5,003 25.11.2015 3MEuribor+285BP 1XS0254808214 Solvay 6,375 Perpetual EUR Baa3 BBB- BBB 108,75 3,340 5,537 02.06.2016 3MEuribor+335 BP 1XS0674277933 EnBW 7,375 Perpetual EUR Baa2 BBB- BBB 113,58 3,629 7,080 02.04.2017 5YRMid Swap+540.1BP 1XS0484213268 Tennet 6,655 Perpetual EUR Baa3 BBB — 110,12 3,945 5,633 01.06.2017 5YRMid Swap+360BP 50FR0010814434 CreditAgricole 7,875 Perpetual EUR Ba2 BBB- BBB- 110,12 5,950 7,980 26.10.2019 3MEuribor+642.4 BP 50XS0253627136 SwissReinsurance 5,252 Perpetual EUR Baa1 A — 102,67 4,367 4,623 25.05.2016 6MEuribor+209 BP 50XS0336598064 Societe Generale 6,999 Perpetual EUR Ba2 BBB- — 103,18 6,189 6,112 19.12.2017 3MEuribor+335 BP 50

LEGENDALeobbligazioni subordinateoffronominorigaranzieall’investitore interminidicertezzadel flussocedolare e/otutele incasodi liquidazione dell’emittente.Afrontedi questeminorigaranzie questa tipologiadi titolioffrerendimenti maggiori (avolteanche dimolto)rispetto allenormali emissioni(definite"senior").Esistonodiverse tipologiedi obbligazionisubordinate: ledue piùdiffuse,che sempreconmaggiorefrequenza vengonoproposteagli investori retail,sonoquelledenominate "LowerTier II" (LT2) e"Tier I"(T1).LeobbligazioniLower Tier II rappresentano ilminorgradodi subordinazione e ,quindi, la tipologiadititolimenorischiosi(tra quelli subordinati)pergli investitori.È infatti garantito ilpagamentodelle cedolee il rimborsodelcapitale ascadenza,amenoovviamentedi insolvenzadell’emittente. Incasodi insolvenzaomessa in liquidazionedell’emittente, il rimborso (totaleoparziale)di questa tipologiadi bondrisultasubordinato (dacui ilnome)al pienorimborsodi tutti icreditoriche risultanoavereprecedenza, inclusi icorrentisti e ipossessoridi obbligazioni"senior".LeobbligazioniTier Irappresentano, invece, ilpiùelevato gradodisubordinazione,visto chenon sonogarantitiné ilpagamentodelle cedole,néilrimborsodelcapitale.Questa tipologiadi titoli, infatti, nonha di fattoscadenzao,se prevista,essaèprorogabile indefinitamente(da cui ilnomedi "perpetui"o"perpetual"). In casodi insolvenzao messa in liquidazionedell’emittente, il rimborso(totaleoparziale) diquesta tipologiadi obbligazioni risulta subordinatoalpienorimborsodituttigli altricreditori, inclusi icorrentistie i possessoridiobbligazioni LowerTier II.1 Rendimentoalla prossimadata dirimborsoanticipato.2 Rendimento alladata discadenza ovenon vi fosse rimborsoanticipato.3 Prossimadata dirimborsoanticipato.3 Tipodi flussocedolare inesseresuccessivamentealladata di rimborsoanticipato,ove laclausolanonvengaesercita dall’emittente.

isin emittente cedola scadenza val rating prezzo rendimento data cedoladopo invcorr.% mood s&p fitch call(1) scad(2) call(3) call(4) min

mgl


fondi comuni a confronto elaborazione Ufficio Studi de Il Sole 24Ore - Rating a cura di

azionariitalia -4,09 7,29 — -5,31 -7,37AcomeAItalia A1 mmmmm -4,30 6,59 — -9,52 -10,12AcomeAItalia A2 mmmmm -4,21 7,44 — — —AlboinoRe mmmmm -0,12 -15,59 6,71 -18,43 -14,74AllianzAz. Ita.All Stars mmmmm -3,44 6,80 5,84 -4,72 -4,89ANM Anima ItaliaA mmmmm -2,36 8,99 7,14 -6,30 -7,42ANM Anima ItaliaF mmmmm -2,35 — — — —ArcaAzioni Italia mmmmm -3,43 8,55 6,18 -5,04 -6,57Bnl Azioni Italia mmmmm -4,78 4,34 5,85 -7,32 -8,44CarigeAzionario Italia A mmmmm -1,58 9,62 3,30 -4,79 -5,62EurizonAz.Italia mmmmm -3,14 7,24 7,13 -5,94 -7,66EurizonAz.PMIItalia mmmmm -1,04 12,07 10,98 -6,75 -7,49Euromob.Azioni Italiane mmmmm -2,11 7,78 7,06 -4,80 -6,62Fideuram Italia mmmmm -2,30 12,55 7,31 -3,33 -5,02FonderselP.M.I. mmmmm -1,15 15,54 5,11 -3,10 -4,42Fonditalia Eq. ItalyR mmmmm -2,55 11,01 — -3,98 -5,55Fonditalia Eq. ItalyT mmmmm -2,51 11,73 — -3,38 —GestnordAzioni Italia mmmmm -2,74 9,63 7,12 -3,51 -5,76Interf.Equity Italy mmmmm -2,54 10,14 — -4,43 -5,62PioneerAz. Crescita A mmmmm -3,96 6,85 5,96 -6,55 -9,02PioneerAz. Crescita B mmmmm -3,98 — — — —PRIMA GeoItalia A mmmmm -2,54 8,08 7,14 -4,23 -6,46PRIMA GeoItalia Y mmmmm -2,42 9,73 7,14 -2,86 -5,22Symp. Selez. Italia mmmmm -0,79 10,82 8,14 -5,03 -6,82SynergiaAz. Italia mmmmm -2,43 8,97 6,17 -6,23 —SynergiaAz.Sm.CapIt. mmmmm -1,59 8,71 10,72 -5,45 —UBIPra. Azioni Italia mmmmm -3,49 12,04 7,08 -3,65 -5,77ZenitMc Pianeta ItCl.I mmmmm -2,43 15,22 — -1,07 —ZenitMc Pianeta ItCl.R mmmmm -2,44 14,12 10,23 -1,93 -6,46comit -3,26 3,48 — -9,46 -11,94

area euro -3,63 11,87 — 0,01 -2,968a+Eiger mmmmm -5,13 5,67 12,41 0,43 1,12Agora Equity mmmmm -1,77 2,35 13,25 -6,73 -5,31Alto Azionario mmmmm -3,34 10,83 11,98 -2,94 -5,20BancoPosta Azion. Euro mmmmm -6,78 15,94 13,18 2,77 —EpsilonQEquity mmmmm -4,31 12,03 9,60 -0,45 -3,87EurizonAz.AreaEuro mmmmm -4,31 9,63 13,91 -2,55 -4,42PRIMA GeoEuro A mmmmm -4,04 11,51 12,63 0,94 -2,54PRIMA GeoEuro Y mmmmm -3,90 13,09 12,63 2,35 -1,22Symp. Azionario Euro mmmmm -1,78 14,40 11,50 -3,20 -4,28UBIPra. Azionario EticoE mmmmm -4,09 9,34 12,61 -2,30 -2,92UBIPra. Azioni Euro mmmmm -2,58 15,32 12,53 2,25 -0,44msci euro -4,45 13,67 — 0,75 -3,06

europa -2,47 11,63 — 3,57 0,46AcomeAEuropa A1 mmmmm -3,35 9,17 — -4,67 -4,64AcomeAEuropa A2 mmmmm -3,24 10,39 — — —AllianzAzioniEuropa mmmmm -2,52 13,60 13,17 6,99 2,92AllianzMultiEuropa# mmmmm -2,99 10,62 12,42 1,36 -1,40AmundiEurope Equity# mmmmm -2,22 12,83 12,80 3,62 0,88ANM Anima EuropaA mmmmm -2,53 12,70 13,03 3,12 -1,04ANM Anima EuropaF mmmmm -2,49 — — — —ANM Anima IniziativaEu A mmmmm -2,39 13,98 16,47 3,04 0,09ANM Anima IniziativaEu F mmmmm -2,24 — — — —ArcaAzioniEuropa mmmmm -2,18 13,09 13,61 3,31 -0,26Bnl AzioniEuro Crescita mmmmm -1,89 17,14 14,23 8,96 3,47Bnl AzioniEuropa Div mmmmm -1,73 12,27 15,06 3,88 1,08CarigeAzionario Europa A mmmmm -1,65 11,70 13,63 1,99 -1,40ConsultinvestAzione mmmmm -4,03 7,14 — -0,46 -3,36EpsilonQValue mmmmm -2,63 12,99 11,19 3,66 -0,74EurizonAz.Europa mmmmm -2,33 12,18 13,63 1,40 -0,11EurizonAz.PMIEuropa mmmmm -3,92 12,53 14,44 4,24 3,54Euromob.EuropeE. F. mmmmm -2,86 4,59 13,06 -2,50 -4,32

FMS- Equity Europe# mmmmm -2,35 13,26 14,24 4,65 0,39FonderselEuropa mmmmm -2,35 12,08 14,24 3,11 -0,22Fonditalia Eq.EuropeR mmmmm -2,03 11,89 — 1,44 -2,23Fonditalia Eq.EuropeT mmmmm -1,99 12,59 — 2,07 —GestnordAzioniEuropa mmmmm -2,45 12,77 14,14 3,24 -0,03Interf.Equity Europe mmmmm -3,09 6,68 — 3,18 -1,65InvestitoriEuropa mmmmm -2,22 10,04 12,04 1,41 -1,20MalatestaAzionario Eu mmmmm -2,45 12,03 14,24 1,79 0,96PioneerAz ValEu Dis A mmmmm -2,33 13,24 14,24 4,28 0,76PioneerAz ValEu Dis B mmmmm -2,23 — — — —PioneerAz. EuropaA mmmmm -2,43 8,17 14,24 0,98 -1,86PioneerAz. EuropaB mmmmm -2,43 — — — —PRIMA GeoEuro Pmi A mmmmm -2,64 13,90 16,47 6,72 3,15PRIMA GeoEuro Pmi Y mmmmm -2,51 15,62 16,47 8,25 4,56PRIMA GeoEuropa A mmmmm -2,54 10,92 13,60 4,44 2,18PRIMA GeoEuropa Y mmmmm -2,41 12,60 13,60 5,92 3,60RasLux Equity Europe mmmmm — — — — —SynergiaAz.Europa mmmmm -0,60 12,97 12,27 -2,79 —UbiPra. Az.Europa mmmmm -1,13 11,52 14,13 2,06 0,21msci europe -2,26 14,23 — 5,18 1,02

america -0,24 8,59 — 8,09 5,59AcomeAAmerica A1 mmmmm -0,33 11,03 — 6,44 4,79AcomeAAmerica A2 mmmmm -0,24 12,19 — — —AllianzAzioniAmerica mmmmm -0,54 5,73 13,07 6,45 5,50Alto AmericaAz. mmmmm 0,48 11,05 12,61 8,53 6,66ANM Anima AmericaA mmmmm 0,53 8,29 13,26 9,57 7,53ANM Anima AmericaF mmmmm 0,63 — — — —ArcaAzioniAmerica mmmmm 0,37 10,84 12,40 9,22 6,80BnlAzioniAmerica mmmmm -0,59 3,15 14,79 8,73 6,11EurizonAz.America mmmmm 0,15 13,14 12,43 8,75 6,73EurizonAz.PMIAmer. mmmmm -1,27 11,54 14,64 8,83 9,80FMS- Equity Usa# mmmmm -0,56 7,48 13,90 8,50 4,87FonderselAmerica# mmmmm 0,20 10,28 13,90 7,25 5,26Fondit.Eq.Usa BlueCh R mmmmm 0,81 11,71 — 6,15 4,10Fondit.Eq.Usa BlueCh T mmmmm 0,87 12,42 — 6,81 —GestnordAzioniAmerica mmmmm 0,09 8,67 14,10 6,89 3,74Interf.Eq. USAH mmmmm 0,89 12,96 — 8,37 3,19Interf.Eq.USA mmmmm 0,28 14,20 — 11,20 8,35Interf.Equity Usa Adv mmmmm -0,59 8,60 — 3,24 2,24InvestitoriAmerica mmmmm 0,49 11,91 11,95 10,54 7,12PioneerAz. Am. A mmmmm -0,27 6,78 12,97 8,27 2,36PioneerAz. Am. B mmmmm -0,44 — — — —PRIMA GeoAmerica A mmmmm 0,51 8,64 13,26 n.s. n.s.PRIMA GeoAmerica Y mmmmm 0,66 10,29 13,26 n.s. n.s.Symp. Azionario Usa mmmmm -0,35 13,40 11,84 6,02 5,85SynergiaAzionario Usa mmmmm 0,57 14,54 11,88 4,95 —UBIPra. Azioni Usa mmmmm -1,40 4,97 14,10 6,55 5,70msci northamerica 0,37 14,34 — 11,45 8,28

pacifico -1,73 7,79 — 2,43 1,82AcomeAAsia Pac. A2 mmmmm 0,82 15,58 — — —AcomeAAsia Pacifico A1 mmmmm 0,83 14,55 — 2,72 0,66AllianzAzioniPacifico mmmmm -0,05 7,36 9,53 2,44 1,72Alto PacificoAz. mmmmm 2,44 11,44 11,24 2,11 5,16ANM Anima PacificoA mmmmm -0,83 9,80 10,05 4,35 4,03ANM Anima PacificoF mmmmm -0,67 — — — —ArcaAzioniFar East mmmmm -0,95 9,06 10,63 3,91 2,95EurizonAz.Asia Nuove Eco. mmmmm -5,43 1,89 4,05 1,89 3,18EurizonAz.Pacifico mmmmm -0,56 8,85 10,60 2,08 1,30FMS- Equity Asia# mmmmm 1,25 11,96 15,93 2,82 3,68FonderselOriente# mmmmm -4,07 3,77 9,08 3,91 4,64FonditEq Pacifex JapanR mmmmm -4,62 6,93 — 0,19 3,03FonditEq Pacifex JapanT mmmmm -4,57 7,62 — 0,82 —Fonditalia Eq.JapanR mmmmm 4,97 12,93 — 2,57 2,65

datial 09.04.2013 ratingcfs var.% var.% var.% rend. rend.fondo a a 1anno 3 5

1mese 1anno bench. anni anni




fondi comuni a confronto

Fonditalia Eq.JapanT mmmmm 5,05 13,64 — 3,20 —GestnordAzioniPacifico mmmmm -1,08 8,86 10,02 3,32 3,27Interf.Eq. JapanH mmmmm 7,76 33,05 — 4,37 -1,24Interf.Eq. Pacif. exJapan mmmmm -1,75 18,08 — 5,64 6,28Interf.Eq. Pacif. exJapan H mmmmm -2,95 13,74 — 0,09 -0,25Interf.Equity Japan mmmmm 4,60 11,11 — 3,01 2,00InvestitoriFar East mmmmm 1,50 13,26 13,29 3,47 3,14PioneerAz. Area PacifA mmmmm -0,87 6,59 10,50 -2,18 -2,96PioneerAz. Area PacifB mmmmm -0,88 — — — —PRIMA GeoAsia A# mmmmm -1,10 8,92 10,05 2,58 n.s.PRIMA GeoAsia Y# mmmmm -0,97 10,57 10,05 4,04 3,99UBIPra. Azioni Pacifico mmmmm -0,69 11,27 10,55 5,85 3,74msci pacific free 2,45 16,96 — 6,48 5,43

paesiemergenti -5,60 -1,67 — 0,31 1,20AcomeAPaesi Em. A1 mmmmm -5,50 4,50 — 2,35 1,21AcomeAPaesi Em. A2 mmmmm -5,41 5,43 — — —AllianzAzPaesi Emer mmmmm -4,27 3,08 -0,15 2,86 0,78AmundiGlobal Emerg.Eq# mmmmm -3,93 1,52 1,61 2,25 2,51ANM Anima EmergentiA mmmmm -5,23 -1,26 0,73 2,28 4,47ANM Anima EmergentiF mmmmm -5,23 — — — —ArcaAzioniPaesi Emerg. mmmmm -5,04 -1,35 0,65 0,15 1,41Bnl AzioniEmerg. mmmmm -6,31 -6,18 0,57 -1,12 -0,01EurizonAz.PaesiEmer mmmmm -4,82 -0,76 0,69 -1,01 1,34FMS- Equity GlEm Mkt# mmmmm -5,21 0,26 0,59 0,79 1,79FMS- Equity NewWorld# mmmmm -6,40 -1,33 0,44 -1,83 —FonditEq Glb EmMkt R mmmmm -5,31 -0,60 — 0,97 2,77FonditEq Glb EmMkt T mmmmm -5,26 0,14 — 1,66 —GestnordAzioniPaesi Em. mmmmm -5,45 -1,48 0,62 -0,34 1,25Interf.Eq. GlbEm Mkt mmmmm -5,37 -0,15 — -3,61 -0,58PioneerAz. PaesiEm. A mmmmm -5,23 -4,72 0,59 -2,14 -2,22PioneerAz. PaesiEm. B mmmmm -5,24 — — — —PRIMA GeoPaesiEm. A# mmmmm -5,39 -1,17 0,65 -0,81 n.s.PRIMA GeoPaesiEm. Y# mmmmm -5,27 0,32 0,65 0,61 1,10Symp. MultEmerFle# mmmmm -2,25 2,50 — 1,93 2,35UBIPra. Az. Merc. Emerg. mmmmm -5,30 -0,02 0,64 2,72 3,33msci emerging markets f. -5,08 1,71 — 2,53 3,75

internazionali -0,63 10,99 — 4,74 2,40AcomeAGlobale A1 mmmmm -1,15 11,92 — 1,91 0,08AcomeAGlobale A2 mmmmm -1,05 13,34 — — —AllianzMulti90# mmmmm -1,00 7,22 11,86 4,28 1,64Alto InternazionaleAz. mmmmm — 6,87 11,62 3,88 2,07AmundiGlobal Equity# mmmmm -0,98 10,52 11,61 5,27 3,12Anfiteatro GlobalEquity mmmmm — — — — —ANM Anima Cap.PiùAzF# mmmmm 0,11 — — — —ANM Anima CapiPiù AzA# mmmmm — 11,94 15,51 3,79 —ANM Anima Capit. PiùAzN mmmmm — — — — —ANM Anima ValoreGlob. A mmmmm -0,79 12,99 13,04 5,68 4,40ANM Anima ValoreGlob. F mmmmm -0,71 — — — —Arca27 az. estere mmmmm -0,13 11,21 13,05 6,55 3,54BancoPostaAz. Internaz. mmmmm -1,14 13,12 14,76 8,34 4,70Capital Italia mmmmm -0,39 12,14 — 6,41 2,61CarigeAzionario Intern A mmmmm -0,42 4,85 11,62 8,83 5,24ConsultinvestGlobal mmmmm -3,27 6,88 — 0,85 -0,30EsseStock cl.A mmmmm -0,48 11,00 — — —EssoStock cl. B mmmmm -0,46 11,45 — — —EticaAzionario IEY mmmmm 0,43 18,36 — — —EticaazionarioE mmmmm 0,35 17,36 — 6,63 6,31EurizonAz.Internazionali mmmmm -0,07 13,26 13,09 4,94 2,67Euromob.Az. Internaz. mmmmm 0,14 8,92 13,36 3,20 5,22Fonditalia GlobalR mmmmm 0,10 10,62 — 5,85 3,68Fonditalia GlobalT mmmmm 0,15 11,33 — 6,50 —GestnordAzTrend Set mmmmm -0,20 6,40 13,01 4,25 0,64PioneerCIM GlobalEquity mmmmm -0,07 11,26 — 5,96 2,12

PRIMA GeoGlobale A mmmmm -0,87 11,84 13,04 6,46 5,34PRIMA GeoGlobale Y mmmmm -0,74 13,53 13,04 7,99 6,81SoprarnoAzioni Glob A mmmmm 0,17 12,50 19,17 7,26 2,73SoprarnoAzioni Glob BY mmmmm 0,31 13,37 — 7,95 3,16Star Coll.Az.Internaz.# mmmmm -1,54 — — — —SynergiaAz.Globale mmmmm 0,13 15,19 12,72 0,32 —Talento GlobalEquity# mmmmm -2,26 8,82 13,68 n.s. n.s.UBIPra. Azioni Globali mmmmm -0,04 12,80 13,04 7,43 3,46UBIPra. Privilege 5# mmmmm -2,33 11,95 11,52 2,87 -2,05ZenitMc MegatrendCl.I mmmmm — — — — —ZenitMc MegatrendCl.R mmmmm -1,46 6,74 15,98 -2,01 -1,85msci world -0,04 14,63 — 8,81 5,57

energia-materieprime — — — — —EurizonAz.EnMatPrime mmmmm -1,38 3,16 3,81 -0,03 -0,66msci 50%energy&50%materials -2,74 2,89 — 3,29 1,20

salute — — — — —EurizonAz.Salute eAmb. mmmmm 3,10 24,10 22,31 9,37 8,94msci health care 3,79 27,84 — 15,42 13,14

finanza — — — — —EurizonAz.Finanza mmmmm -1,66 18,84 20,60 1,97 -1,90Fonditalia Eu Financials R mmmmm -6,25 16,39 — -8,32 -12,51Fonditalia Eu Financials T mmmmm -6,20 17,27 — -7,65 —msci financials -0,80 22,82 — 4,66 -0,99

informatica — — — — —EurizonAz.Tecn.Avanz mmmmm -1,81 -4,43 -1,63 3,36 3,88msci inform.technology -1,70 -1,12 — 7,27 8,32

altrisettori — — — — —FMS- Eq.Glob.Resources# mmmmm -2,93 -6,12 0,09 -2,41 —Fonditalia Eu Cyclicals R mmmmm -6,14 8,51 — 3,28 0,79Fonditalia Eu Cyclicals T mmmmm -6,08 9,30 — 4,02 —Fonditalia Eu Defensive R mmmmm -0,29 13,52 — 0,93 0,20Fonditalia Eu Defensive T mmmmm -0,23 14,36 — 1,65 —Fonditalia EuroT.M.T R mmmmm -3,03 -0,78 — -5,15 -3,98Fonditalia EuroT.M.T T mmmmm -2,97 -0,02 — -4,47 —Fonditalia FlexEm. MktsT mmmmm -1,47 1,36 — 1,49 —Fonditalia FlexEm.Mkts R mmmmm -1,51 0,79 — 0,95 0,98Inter.Int.Sec.NewEc mmmmm -0,41 7,26 — 8,62 7,16msci world -0,04 14,63 — 8,81 5,57

altrespecializzazioni — — — — —EurizonAz.Int. EticoE mmmmm -0,07 14,41 13,54 4,35 2,36msci world -0,04 14,63 — 8,81 5,57

bilanciatibil.azionari — — — — —Fonditalia Core3 R mmmmm -0,56 4,73 — 1,38 —Fonditalia Core3 T mmmmm -0,51 5,41 — 2,01 —IGMFdF Bilanciato Az. Cl.A# mmmmm -1,52 6,86 — 3,40 —IGMFdF Bilanciato Az. Cl.B# mmmmm -1,47 7,72 — 4,09 —PRIMAforza5 A# mmmmm -0,20 8,58 9,68 4,90 n.s.PRIMAforza5 B# mmmmm -0,20 8,57 9,68 4,89 —PRIMAforza5 Y# mmmmm -0,13 9,56 9,68 5,80 2,88UBIPra. Port. Aggressivo mmmmm -0,89 8,98 11,85 2,51 2,30UBIPra. Privilege 4# mmmmm -1,59 10,63 10,83 2,90 -0,6170%msciworld&30%jpm emu 0,44 13,27 — 7,57 5,54

bilanciati -0,32 8,21 — 2,80 1,92AllianzMulti50# mmmmm 0,22 6,69 11,51 3,85 2,44Alto Bilanciato mmmmm 0,15 3,68 6,83 2,88 2,66ArcaBB mmmmm -0,64 10,86 11,10 3,11 1,99







BancoPostaMix 2 mmmmm -1,33 8,70 9,06 4,24 3,22CarigeBilanciato 50 A mmmmm -1,86 9,17 11,66 2,04 0,58ConsultinvestBilanciato mmmmm -2,46 7,67 — 0,99 0,25EpsilonDLongRun mmmmm -1,90 6,39 7,87 0,92 0,53EticaBilanciato IEY mmmmm 0,58 13,76 — — —EticabilanciatoE mmmmm 0,50 12,75 — 5,85 6,31EurizonBil.Euro Multi.# mmmmm -0,42 11,44 12,32 3,48 1,82EurizonSoluzione 40 mmmmm 0,52 8,76 9,93 3,22 2,80EurizonSoluzione 60 mmmmm 0,10 8,60 10,04 2,87 1,78Euromob.Bilanciato mmmmm -0,55 9,36 11,35 3,82 1,09Fideuram Bilanciato mmmmm -1,09 9,56 11,02 n.s. n.s.Fondersel mmmmm 0,13 6,38 7,52 2,44 2,15Fonditalia Core2 R mmmmm -0,42 4,34 — 1,60 —Fonditalia Core2 T mmmmm -0,38 4,96 — 2,18 —GestnordBilanciato Euro mmmmm -2,06 8,08 11,80 -0,45 -0,72Nextam Part.Bilanciato mmmmm -1,40 4,00 — -1,16 1,00PRIMAforza4 A# mmmmm 0,50 8,61 10,20 5,09 n.s.PRIMAforza4 B# mmmmm 0,48 8,59 10,20 — —PRIMAforza4 Y# mmmmm 0,54 9,36 10,20 5,79 3,48Star Coll.Bil.PaesiEm.# mmmmm -1,50 — — — —SynergiaBilanciato 50 mmmmm -0,18 9,27 9,98 1,08 —UBIPra. Port. Dinamico mmmmm -0,49 5,01 8,39 2,53 3,22UBIPra. Privilege 3# mmmmm -1,00 9,73 8,83 3,36 1,2450%msciworld&50%jpm emu 0,76 12,36 — 6,73 5,51

bil.obbligazionari -0,74 5,40 — 1,87 2,32AllianzMulti20# mmmmm 1,08 7,97 10,38 4,12 3,56Alpi Bilanciato mmmmm -0,94 4,07 0,07 n.s. n.s.ANM Anima Cap.PiùBi15 A# mmmmm 0,14 6,05 7,85 1,62 —ANM Anima Cap.PiùBi15 F# mmmmm 0,23 — — — —ANM Anima Cap.PiùBi30 A# mmmmm -0,15 7,38 10,10 1,31 —ANM Anima Cap.PiùBi30 F# mmmmm -0,04 — — — —ANM Anima Cap.PiùBil15 N mmmmm — — — — —ANM Anima Cap.PiùBil30 N mmmmm — — — — —ANM Anima VisconteoA mmmmm -0,93 6,85 7,94 2,32 2,88ANM Anima VisconteoF mmmmm -0,86 — — — —ArcaTE mmmmm 0,09 8,30 8,75 4,93 4,88CarigeBilanciato 30 mmmmm -1,14 8,23 7,45 2,75 2,44Fonditalia Core1 R mmmmm -0,07 5,12 — 1,87 —Fonditalia Core1 T mmmmm -0,04 5,64 — 2,35 —PRIMAforza3 A# mmmmm 0,47 6,12 8,20 3,68 n.s.PRIMAforza3 B# mmmmm 0,49 6,12 8,20 3,68 —PRIMAforza3 Y# mmmmm 0,55 6,77 8,20 4,24 3,71Swiss& GlobalChallen IY mmmmm 0,04 — — — —Swiss& GlobalChallen R mmmmm — 4,04 — 2,72 0,33SynergiaBilanciato 30 mmmmm 0,07 7,61 8,48 1,71 —UBIPra. B. EuroRis. Cont. mmmmm -1,34 3,32 5,75 -0,23 0,60UBIPra. Port. Moderato mmmmm -0,22 3,02 6,12 2,28 3,29UBIPra. Privilege 1# mmmmm — 7,47 6,90 2,51 2,17UBIPra. Privilege 2# mmmmm -0,60 8,80 7,90 2,96 1,7630%msciworld&70%jpm emu 1,08 11,45 — 5,88 5,49

obbligazionariob.eurogovernativi b.t. 0,21 3,07 — 1,70 2,30AcomeABreve Term.A1 mmmmm 0,19 11,42 — 5,42 4,20AcomeABreve Term.A2 mmmmm 0,22 11,99 — — —Alto EuroGovernativo B/T mmmmm 0,36 3,70 4,35 1,97 2,19AmundiBreve Termine mmmmm 0,18 5,04 3,56 1,59 2,35ANM Anima SalvadanaioA mmmmm 0,27 1,85 2,62 -0,44 0,95ANM Anima SalvadanaioF mmmmm 0,29 — — — —ArcaMM mmmmm 0,53 7,93 7,06 4,31 4,08BancoPostaObbl. Eu BT mmmmm 0,29 2,89 2,71 2,20 2,58BancoPostaReplay12 mesi mmmmm 0,20 — — — —Bnl Obbl EuroBT mmmmm 0,29 2,32 3,32 2,13 2,79CarigeBreve Termine mmmmm 0,14 2,74 2,09 1,80 2,09

ConsultinvestBreve Term mmmmm 0,11 2,82 — 1,69 —Eticaobb.breve term.E mmmmm 0,20 2,01 — 1,31 2,05EticaObbl. BreveT. IEY mmmmm 0,21 2,31 — — —EurizonObbl. EuroBT A mmmmm 0,09 2,95 2,98 — —EurizonObbl. EuroBT D mmmmm 0,09 2,95 2,98 1,64 2,31Euromob.Prudente mmmmm 0,14 2,81 2,98 1,48 2,10Fideuram Risparmio mmmmm 0,10 1,16 2,11 0,68 0,96FondacoEuro CashBY mmmmm 0,13 — — — —FondacoEuro CashY mmmmm 0,13 2,08 — 1,56 2,33FonderselReddito mmmmm 0,29 4,47 3,22 3,13 2,88FonditEur BndShort T R mmmmm 0,21 3,18 — 2,07 2,82FonditEur BndShort T T mmmmm 0,23 3,53 — 2,40 —Fonditalia Eu CurrencyR mmmmm 0,05 1,28 — 0,97 1,24Fonditalia Eu CurrencyT mmmmm 0,07 1,57 — 1,25 —GestielleBT Cedola Cl.A mmmmm 0,33 -2,09 2,80 -1,20 0,81GestielleBT Cedola Cl.BY mmmmm 0,37 -1,63 — — —GIFocus Euro Gov. BT mmmmm 0,28 3,06 2,11 1,73 1,98Interf.Euro Currency mmmmm 0,04 1,47 — 1,10 1,44MalatestaBreveTermine mmmmm 0,12 3,00 2,83 1,91 2,42MediolanumRisp Dinam mmmmm 0,26 4,09 — n.s. n.s.NordfondoObbl. B.TA mmmmm 0,21 2,91 1,99 1,39 1,98NordfondoObbl. B.TB mmmmm — — — — —Passadore BreveTermine mmmmm 0,11 2,95 2,83 1,85 2,26Pion.Eur Gov BT (ex Mon.)A mmmmm 0,18 2,48 2,83 2,00 2,36Pion.Eur Gov BT (ex Mon.)B mmmmm 0,18 — — — —PRIMA FixEuroA mmmmm 0,07 1,29 2,11 0,74 n.s.PRIMA FixEuroI mmmmm 0,09 1,52 2,11 0,96 1,61PRIMA FixEuroYY mmmmm 0,10 1,52 2,11 1,05 1,70PRIMA FixObbl. BT A mmmmm 0,32 2,43 3,05 1,21 n.s.PRIMA FixObbl. BT Y mmmmm 0,36 2,87 3,05 1,64 —SoprarnoPronti Termine mmmmm 0,24 6,55 2,25 2,98 2,89Symp. ObbBreveTerm mmmmm 0,19 3,67 2,63 2,00 2,57Symp. ObbRendita mmmmm 0,25 5,33 5,75 n.s. n.s.SynergiaObb.Rend. mmmmm 0,20 4,96 7,56 n.s. n.s.SynergiaObbl. EuroBT mmmmm 0,15 3,64 2,80 1,71 —TeodoricoBreveTermine mmmmm 0,13 3,05 2,83 1,97 2,46UBIPra. Euro BT mmmmm 0,16 2,57 3,22 1,19 2,35ZenitMc BreveTer Cl.I mmmmm 0,19 3,36 — 1,85 —ZenitMc BreveTer Cl.R mmmmm 0,17 2,93 2,59 1,50 2,38jpmgbi emu 1-3yr 0,28 3,56 — 1,72 3,12

ob.eurogovernativi m/l t 1,01 7,32 — 3,38 4,20AcomeAEurobb. A1 mmmmm 0,08 16,31 — 6,74 5,49AcomeAEurobb. A2 mmmmm 0,11 16,72 — — —Agora Income mmmmm — 0,62 6,27 — —AllianzRedditoEuro mmmmm 1,43 6,74 8,94 4,15 4,44ANM Anima Obbl.EuroA mmmmm 0,74 4,80 5,81 0,27 2,81ANM Anima Obbl.EuroF mmmmm 0,77 — — — —ANM Capitale PiùObbl. A# mmmmm 0,61 4,42 5,69 1,72 —ANM Capitale PiùObbl. F# mmmmm 0,68 — — — —ANM Capitale PiùObbl. N mmmmm — — — — —ArcaRR mmmmm 1,19 9,16 8,54 4,84 4,85AzimutRedditoEuro mmmmm 0,64 7,50 — 2,52 2,74BancoPostaObbl. Eu MLT mmmmm 0,98 6,72 7,01 4,63 4,64BnlObbl. EuroM/L T mmmmm 1,38 6,21 9,46 4,04 3,95CarigeObbl. Euro LTA mmmmm 1,69 10,48 11,76 6,27 5,74CarigeObbligaz. Euro A mmmmm 0,73 5,15 5,15 3,40 3,53EpsilonQincome mmmmm 1,10 10,55 10,09 3,44 4,49EurizonObbl. Euro mmmmm 0,64 9,49 8,46 4,27 4,80Euromob.Reddito mmmmm 1,01 7,99 8,77 3,43 3,87Fideuram Rendimento mmmmm 1,11 5,86 10,10 1,35 2,57FondacoEurogov Beta BY mmmmm 1,63 1,25 — — —FondacoEurogov BetaY mmmmm 1,63 9,30 — 4,78 5,39FonderselEuro mmmmm 1,70 9,95 9,58 4,87 4,60Fonditalia Eu B.LongT R mmmmm 3,36 14,62 — 6,39 6,06







Fonditalia Eu B.LongT T mmmmm 3,38 15,06 — 6,79 —Fonditalia Eu B.Med. T R mmmmm 1,23 9,01 — 5,14 4,95Fonditalia Eu B.Med.T T mmmmm 1,25 9,44 — 5,53 —GestielleMT EuroCl.A mmmmm 0,66 5,39 6,08 1,29 2,65GestielleMT EuroCl.B mmmmm 0,70 6,04 — 1,78 —Interf.Euro BondLongT mmmmm 3,35 15,03 — 7,14 6,43Interf.Euro BondMed. T mmmmm 1,23 9,33 — 5,53 5,31Interf.Euro Short Term1-3 mmmmm 0,19 2,43 — 1,77 2,61Interf.Euro Short Term3-5 mmmmm 0,48 5,04 — 3,36 4,06MalatestaObblig. Euro mmmmm 0,70 5,47 6,04 2,82 3,20NordfondoObbl. EuroM.T. mmmmm 0,65 5,45 6,87 1,37 2,55PioneerEu Gov MT Dis A mmmmm 1,45 — — — —PioneerEu Gov MT Dis B mmmmm 1,41 — — — —PioneerObb.Euro Distr B mmmmm 1,25 — — — —PRIMA FixObbl. MLT A mmmmm 1,29 7,36 9,12 2,57 n.s.PRIMA FixObbl. MLT Y mmmmm 1,36 8,09 9,12 3,21 —RasLux B. Europe mmmmm — — — — —Symp. Obblig.Euro mmmmm 0,83 6,97 8,08 4,03 4,64SynergiaObbl. EuroMT mmmmm 0,87 7,36 7,31 3,98 —UBIPra. Euro M/L Term. mmmmm 0,55 6,07 8,94 2,81 4,22mlemu direct government 1,57 9,53 — 4,98 5,67

ob.eurocorp.invest.grade. 0,41 7,41 — 3,84 3,86AcomeAObblig.Corp. A1 mmmmm -0,18 14,82 — 3,96 4,44AcomeAObblig.Corp. A2 mmmmm -0,12 15,46 — — —AmundiCorporate 3 anniY mmmmm 0,22 3,61 — -1,28 —ANM Anima Obb.Corpor. A mmmmm 0,63 10,52 7,19 2,91 4,08ANM Anima Obb.Corpor. F mmmmm 0,66 — — — —ArcaBondCorporate mmmmm 0,71 8,82 7,51 5,57 5,72BancoPosta Corp.2014 mmmmm 0,34 4,80 — — —CarigeCorporate EuroA mmmmm 0,61 6,67 7,74 4,04 4,27EurizonObbl. EuroCorp. mmmmm 0,66 7,35 7,18 3,63 2,86EurizonObbl. EuroCorp. BT mmmmm 0,16 3,78 3,88 2,58 1,30Euromob.Eu.Corp.BT mmmmm 0,15 4,39 4,29 n.s. n.s.FoiEu Corp BndS mmmmm 0,66 2,92 — — —Fonditalia Eu CorpBnd R mmmmm 0,67 5,81 — 3,62 4,40Fonditalia Eu CorpBnd T mmmmm 0,70 6,22 — 4,01 —Interf.Euro CorporateBd mmmmm 0,67 6,53 — 3,62 4,46NordfondoObbl. EuroCorp. mmmmm 0,80 8,95 7,34 5,23 6,52PioneerOb Eu Co EtDis AE mmmmm 0,54 8,31 8,56 5,15 5,51PioneerOb Eu Co EtDis BE mmmmm 0,54 — — — —PRIMA FixImprese A mmmmm 0,59 10,70 7,19 4,21 4,06PRIMA FixImprese Y mmmmm 0,64 11,44 7,19 4,86 4,68Symp. Obb.Corp. mmmmm 0,51 7,93 7,08 4,42 4,27SynergiaObbl Corporate mmmmm 0,44 7,47 7,22 4,31 —UBIPra. Euro Corp. mmmmm 0,50 8,17 8,50 4,27 5,99lehman euroaggr.corporate 0,83 8,50 — 5,67 6,31

ob.eurohigh yield — — — — —ANM Anima Ob HiYieldA mmmmm 0,39 2,65 2,00 -1,93 1,38ANM Anima Ob HiYieldAD mmmmm 0,44 — — — —ANM Anima Ob HiYieldF mmmmm 0,50 — — — —EurizonObbl. EuroHY mmmmm 0,59 12,11 13,46 5,93 8,35FoiBndGl. High YieldTY mmmmm 0,57 9,89 — 5,23 —FoiBondGl.High YieldS mmmmm 0,51 — — — —FoiBondGlobHighYield R mmmmm 0,51 9,04 — 4,76 6,33IfuBondGl. High Yield mmmmm 0,65 10,96 — 5,73 7,02PRIMA FixHigh Yeld Y mmmmm 0,74 13,32 14,56 6,96 8,80PRIMA FixHigh YieldA mmmmm 0,66 12,18 14,56 5,95 7,83mleuro high yield 0,68 16,41 — 10,01 11,63

ob.dollarogovernativi b.t. — — — — —EurizonBr.Ter.Dollaro mmmmm -0,59 -0,31 0,19 0,75 3,45EurizonBr.Ter.Dollaro$ mmmmm 0,38 -0,14 0,19 0,65 3,41jpmgbi us 1-3y -0,48 0,72 — 2,36 5,79

ob.dollarogovernativi m/l t. 1,15 4,78 — 5,70 7,24AzimutRedditoUsa mmmmm 0,67 4,22 — 3,27 5,14FoiBondUS Plus R mmmmm 0,45 6,05 — 6,48 7,39FoiBondUs PlusS mmmmm 0,45 — — — —FoiBondUs PlusTY mmmmm 0,51 6,79 — 7,06 —GestielleBondDollars Cl.A mmmmm 0,95 3,67 4,93 6,65 7,47GestielleBondDollars Cl.B mmmmm 1,03 4,51 — 7,47 —IfuBondUS Plus mmmmm 0,60 5,89 — 6,15 7,46NordfondoObbl. Dollari mmmmm 0,58 2,42 3,66 4,92 6,72lehman us treasury 1,17 2,69 — 5,22 7,81

ob.int. governativi 0,57 1,82 — 3,50 4,65AllianzRedditoGlob mmmmm 0,84 -0,88 0,16 3,48 5,30Alto Internazion.Obbl. mmmmm 1,03 2,69 -0,03 4,59 5,94ANM Anima PianetaA mmmmm -0,37 -1,06 0,62 3,34 5,70ANM Anima PianetaF mmmmm -0,33 — — — —ArcaBondG. mmmmm 0,73 4,80 4,48 n.s. n.s.EurizonObbl. Internaz. mmmmm 0,20 1,35 0,50 4,45 5,39FondacoWorld G ABNoEBY mmmmm 2,24 -1,26 — — —FondacoWorld G ABNoEI mmmmm 2,24 4,52 — — —Fondersel Int.# mmmmm 0,20 3,94 0,16 3,61 6,72GestielleObbl. Intern. Cl.A mmmmm 0,34 -0,99 0,22 2,32 4,11GestielleObbl. Intern. Cl.B mmmmm 0,43 -0,07 — 3,21 —PRIMA FixObbl. Glob A mmmmm -0,10 -1,76 0,10 3,04 4,41PRIMA FixObbl. Glob Y mmmmm -0,03 -0,98 0,10 3,82 —UBIPra. Obb. Globali mmmmm 0,11 0,45 0,12 3,75 5,33jpmgbi global all.mat. 0,67 -0,65 — 5,36 7,44

ob.int. corp.invest.gr. — — — — —UBIPra. Obb. Glob.Corp. mmmmm 1,56 8,09 8,60 6,72 6,24lehman aggregate corporate 0,83 8,50 — 5,67 6,31

ob.int. highyield — — — — —PioneerObb GloHY Dis A mmmmm 0,29 — — — —PioneerObb GloHY Dis B mmmmm 0,29 — — — —UBIPra. Obb. Gl.Alto Ren. mmmmm 0,66 10,95 14,26 9,13 8,03mlglobal high yield 0,81 14,80 — 11,04 11,60

ob.yen — — — — —Interf.BondJapan mmmmm -2,30 -15,05 — 0,66 5,22jpmgbi japan all.mat. -2,03 -14,16 — 2,11 7,25

ob.paesi emergenti 1,11 10,47 — 7,96 7,29ANM Anima Obb.Emerg A mmmmm 1,08 9,79 11,55 7,72 7,59ANM Anima Obb.Emerg F mmmmm 1,13 — — — —ArcaBoPaesi Em Val.Loc mmmmm 0,70 9,08 10,97 — —ArcaBondPaesi Em. mmmmm 1,55 11,27 12,23 8,31 6,70BnlObbl Emergenti mmmmm 0,85 10,80 12,67 9,49 10,59EurizonObbl. Emergenti mmmmm 0,99 7,65 10,04 6,64 6,18FonditBnd Glb EmMkt R mmmmm 1,78 10,50 — 8,39 5,81FonditBnd Glb EmMkt SY mmmmm 1,78 — — — —FonditBnd Glb EmMkt T mmmmm 1,80 10,83 — 8,69 —GestielleEm Mkts BoCl.A mmmmm 1,39 10,69 11,47 7,98 7,69GestielleEm Mkts BoCl.B mmmmm 1,48 11,85 — 9,05 —Interf.BondGlb Em Mkt mmmmm 1,70 10,00 — 8,34 5,70Interf.Em.Mkt Loc.Cur HY mmmmm 2,02 8,44 — — —Interf.Em.Mkt Loc.Curr mmmmm 1,51 9,70 — — —NordfondoObbl. Paesi Em. mmmmm 0,85 12,01 11,25 8,45 10,34PioneerOb Paesi Em Dis A mmmmm 0,38 10,96 11,63 8,71 10,60PioneerOb Paesi Em Dis B mmmmm 0,43 — — — —jpmembi global diversified 1,14 12,67 — 11,64 13,96

ob.altrespecializzazioni 0,46 6,27 — 3,35 4,24Alpi Bond mmmmm 0,15 3,19 0,07 n.s. n.s.







AmundiObbligaz. Euro mmmmm 1,13 11,51 8,89 4,24 —ANM Anima Convertibile mmmmm 0,70 6,92 10,87 2,00 4,11ANM Anima Riserva Emer.A mmmmm 1,29 — — — —ANM Anima Riserva Emer.F mmmmm 1,39 — — — —ANM Anima Riserva Glob.A mmmmm -0,02 — — — —ANM Anima Riserva Glob.F mmmmm 0,08 — — — —AureoCedola I -2016 mmmmm 0,72 — — — —AureoCedola II - 2017 mmmmm 0,87 — — — —AzimutTrendTassi mmmmm 0,71 8,94 — 3,24 2,83BancoPostaObbl Dic 2017 mmmmm 0,70 — — — —BancoPostaObbl. Feb14 mmmmm 0,30 4,73 — — —BCCCedola III Op- 2017 mmmmm — — — — —BNL 3X3 mmmmm 0,24 1,32 6,83 — —CarigeForziere Euro mmmmm 0,09 n.s. 1,12 n.s. n.s.CarigeObb. GlobaleA mmmmm 0,23 6,91 7,58 n.s. n.s.EurizonObbl. CedolaA mmmmm 0,18 5,14 5,19 — —EurizonObbl. CedolaD mmmmm 0,18 1,91 5,19 0,72 2,44EurizonObbl. EticoE mmmmm 0,80 8,18 7,72 5,18 5,54FoiCore BondR mmmmm 0,79 6,71 — — —FoiCore BondT mmmmm 0,82 7,14 — — —FoiEu YieldPl S mmmmm -0,08 -0,34 — — —Fonditalia Eu YieldPl R mmmmm -0,08 0,96 — -0,07 n.s.Fonditalia Eu YieldPl T mmmmm -0,05 1,33 — 0,30 n.s.Fonditalia InflatLinked R mmmmm 2,64 7,48 — 6,67 4,75Fonditalia InflatLinked T mmmmm 2,67 7,90 — 7,07 —GestielleObbl. Corp. A mmmmm 0,41 12,75 10,29 6,79 8,00GestielleObbl. Corp. B mmmmm 0,49 13,73 — 6,92 —Interf. InflationLinked mmmmm 2,93 7,94 — 7,57 5,44InterfundGlob.Convert mmmmm 0,57 7,19 — — —NordfondoObbl. Conv. mmmmm -1,47 6,74 8,56 1,13 1,99PioneerCIM EuroFixIncome mmmmm 1,17 10,37 — 5,20 5,14PioneerObb.Euro Distr A mmmmm 1,27 8,26 8,89 5,27 5,28PRIMA FixEmergenti A# mmmmm 0,91 9,19 11,55 7,25 n.s.PRIMA FixEmergenti Y# mmmmm 0,99 10,29 11,55 8,27 6,84PRIMAforza1A mmmmm 0,83 4,07 4,17 2,61 n.s.PRIMAforza1B mmmmm 0,83 4,05 4,17 2,61 —PRIMAforza1Y mmmmm 0,85 4,44 4,17 2,96 2,36PRIMAforza2 A mmmmm 0,87 5,13 6,50 3,29 n.s.PRIMAforza2 B mmmmm 0,87 5,13 6,50 3,29 —PRIMAforza2 Y mmmmm 0,89 5,59 6,50 3,70 2,59RasLux Short T. Dollar mmmmm — — — — —RasLux Short T. Eur. mmmmm — — — — —Star Coll.ObbM/L Ter.# mmmmm 0,78 — — — —Star Coll.Obb. Inter.# mmmmm 0,10 — — — —UBIPra. Obb. Dollari mmmmm 0,79 5,07 5,32 6,93 8,88jpmglobal 0,67 -0,65 — 5,36 7,44

ob.misti 0,31 7,34 — 2,70 2,90AcomeAPerform. A1 mmmmm -0,26 12,02 — 4,63 4,36AcomeAPerform. A2 mmmmm -0,20 12,65 — — —AlleanzaObbligaz. mmmmm 0,56 8,55 12,34 0,72 1,98Alto Obbligazionario mmmmm 0,55 10,44 12,34 2,00 2,65AnimaTr. 18 It.Al.Pot.II mmmmm 0,16 — — — —AnimaTrag 18 It.Al.Pot. mmmmm 0,32 — — — —ANM Anima SforzescoA mmmmm -0,02 6,17 5,29 3,12 4,13ANM Anima SforzescoF mmmmm 0,03 — — — —ArcaObbligaz. Europa mmmmm 1,68 8,63 8,23 5,21 4,44BancoPostaMix 1 mmmmm -0,12 7,24 7,59 4,10 3,83CarigeBilanciato 10 mmmmm 0,18 8,16 6,50 3,57 3,17EticaObbl. MistoIEY mmmmm 0,62 5,86 — — —EticaObbligaz. mistoE mmmmm 0,56 5,23 — 3,63 4,36EurizonDiversEticoE mmmmm 0,20 6,52 5,68 3,37 3,85EurizonRenditaA mmmmm -0,21 3,79 3,23 — —EurizonRenditaD mmmmm -0,21 2,53 3,23 0,74 1,07

EurizonSoluzione 10 mmmmm 0,17 4,97 5,53 1,38 1,51GestielleCedola PiùIta mmmmm — — — — —Nextam Part.Obbl. Misto mmmmm 0,53 9,47 — 3,83 3,84NordfondoEtico ObMistoE mmmmm 0,15 7,59 8,48 0,66 1,88PioneerOb. Piu' Dis A mmmmm -0,25 5,42 3,67 5,01 4,19PioneerOb. Piu' Dis B mmmmm -0,27 — — — —Symp. Patrim. Redd. mmmmm -0,32 5,96 — 2,91 2,63SynergiaBilanciato 15 mmmmm 0,39 6,06 7,51 2,14 —UBIPra. Port. Prudente mmmmm 0,31 2,41 5,46 1,85 2,66Unicredit RedditoA# mmmmm 0,29 — — — —Unicredit RedditoB# mmmmm 0,25 — — — —ZenitMc Obbligaz. Cl.I mmmmm — 4,31 — 2,16 —ZenitMc Obbligaz. Cl.R mmmmm -0,06 3,74 7,63 1,64 3,0280%jpm global&20%msci world 0,53 2,40 — 6,07 7,08

ob.flessibili 0,30 7,02 — 3,19 3,22AllianzObbligaz. Flessibile mmmmm 0,48 2,60 — 1,62 2,21AmundiMeta 2018 mmmmm 0,82 — — — —AmundiMeta 2018 Due mmmmm — — — — —AmundiTraguardo 3% mmmmm 1,40 — — — —AnimaTrag 2017 Ced4 II mmmmm 0,38 — — — —ANM Anima Risparmio A mmmmm 0,43 4,15 — 1,09 2,74ANM Anima Risparmio F mmmmm 0,38 — — — —ANM Anima Tr.18 M.CedII mmmmm 0,37 — — — —ANM Anima Trag 17Ced4 mmmmm 0,29 8,74 — — —ANM Anima Trag 17Ced4 3 mmmmm 0,19 — — — —ANM Anima Trag 2016Ced3 mmmmm 0,21 8,21 — — —ANM Anima Trag 2017M.Ced mmmmm 0,15 — — — —ANM Anima Trag 2018C.Sem mmmmm 0,24 — — — —ANM Anima Trag 2018T.Ced mmmmm 0,22 — — — —ANM Anima Trag II2016 mmmmm 0,28 8,83 — — —ANM Anima Traguardo2016 mmmmm 0,05 8,48 — — —ANM Anima Traguardo2018 mmmmm 0,54 11,19 — — —ArcaCedBondGlob Eur mmmmm 0,37 8,65 — — —ArcaCed.18 Ob.Attiva II mmmmm — — — — —ArcaCed.18 Obb.Attiva mmmmm 0,42 — — — —ArcaCed.18 Paesi Em.VL P mmmmm — — — — —ArcaCed.18 Paesi Em.VL R mmmmm — — — — —ArcaCed.Bo.2015 Alto Pot mmmmm 0,33 9,19 — 5,15 —ArcaCed.Bo.2015 Alto Pot.2 mmmmm 0,56 9,58 — — —ArcaCed.Bo.2016 Alto Pot.3 mmmmm 0,83 9,49 — — —ArcaCed.Bo.2017Alto Pot.4 mmmmm 0,71 11,50 — — —ArcaCed.Bo.2017Alto Pot.5 mmmmm 0,64 — — — —ArcaCed.Bo.2017Alto Pot.6 mmmmm 0,38 — — — —ArcaCed.BondGlob.Eu II mmmmm 0,44 7,90 — — —ArcaCed.BondGlob.Eu III mmmmm 0,40 7,84 — — —ArcaCed.BondPaesi Em. mmmmm 0,34 8,06 — — —ArcaCed.Corp.BondII mmmmm 0,11 3,19 — 3,29 —ArcaCed.Corp.BondIII mmmmm 0,11 3,28 — 3,14 —ArcaCed.Corp.BondIV mmmmm 0,21 3,88 — — —ArcaCed.Gov.Eu.Bond mmmmm 0,27 5,57 — 2,26 —ArcaCed.Gov.Eu.Bond II mmmmm 0,41 8,12 — 2,63 —ArcaCed.Gov.Eu.Bond III mmmmm 0,32 8,42 — 3,76 —ArcaCed.Gov.Eu.Bond IV mmmmm 0,59 8,33 — — —ArcaCedola Corp.Bond mmmmm 0,08 0,48 — 1,78 —BCCRisparmio Obbligaz. mmmmm 0,23 3,30 — 0,92 1,15BnlTargetReturn Liquid mmmmm 0,14 1,61 — 1,28 1,44CarigeForziere Obbligazionario mmmmm — — — — —CarigeObbl. Cedola A mmmmm 0,38 — — — —Consult High YieldCl. A mmmmm -0,47 11,44 — 3,79 4,49Consult RedditoCl. A mmmmm -0,87 10,15 — 1,22 1,81Consult RedditoCl. B mmmmm — — — — —Consult ValoreCl. A mmmmm -0,60 10,81 — 1,69 2,25Consult ValoreCl. B mmmmm — — — — —







EurizonCed. Doc 02/19 mmmmm 1,22 — — — —EurizonCed. Doc 04/19 mmmmm 0,68 — — — —Euromob.Emerg Mkt Bond mmmmm 0,66 6,26 — n.s. n.s.Euromob.Obiettivo 2015 mmmmm 0,23 7,05 — — —Euromob.Total Ret Flex2 mmmmm 0,32 3,39 — 1,61 2,14FoiGlobalBond R mmmmm -0,09 2,85 — — —FoiGlobalBond S mmmmm -0,09 -0,01 — — —FoiGlobalBond T mmmmm -0,05 3,32 — — —FonditEthical R mmmmm 0,18 — — — —FonditEthical TY mmmmm 0,17 — — — —Fonditalia FlexibBondR mmmmm 0,18 4,11 — n.s. n.s.Fonditalia FlexibBondS mmmmm 0,19 2,11 — — —Fonditalia FlexibBondT mmmmm 0,23 4,48 — n.s. n.s.GestielleCedFissa II A mmmmm 0,42 — — — —GestielleCedFissa II BY mmmmm 0,49 — — — —GestielleCedola Fissa mmmmm -1,47 — — — —GestielleCedola O.B.E. mmmmm 0,26 3,88 — — —GestielleCedola O.G.E. mmmmm 0,52 3,31 — — —GestielleCedola Più mmmmm — — — — —GIFocus Obbligazionario mmmmm 0,25 -0,77 — 0,02 1,27MediolanumFleObb Glob mmmmm 0,15 9,43 — n.s. n.s.PRIMA Rend.Ass.ModeratoA mmmmm -0,15 1,43 — n.s. n.s.PRIMA Rend.Ass.ModeratoY mmmmm -0,09 2,01 — n.s. n.s.PRIMA Rend.Ass.PrudenteA mmmmm 0,05 2,01 — n.s. n.s.PRIMA Rend.Ass.PrudenteY mmmmm 0,08 2,26 — n.s. n.s.RitorniReali mmmmm 0,26 -1,71 1,92 -0,80 2,40Symp. Obb.Alto Pot. mmmmm 0,46 — — — —Symp. Obb.Din. Val. mmmmm 0,92 2,82 — n.s. n.s.SynergiaBondFlessib. mmmmm 0,52 2,65 — — —UBIPra. Active Duration mmmmm -0,27 3,67 — 0,87 —UBIPra. Tot RetPr mmmmm 0,35 1,72 — 1,03 2,62UniCreditSoluzione BTA mmmmm 0,04 1,09 — — —UniCreditSoluzione BTB mmmmm -0,02 0,58 — — —jpmgbi global all.mat. 0,67 -0,65 — 5,36 7,44

ob.italia 0,33 — — — —ANM Anima TricoloreA mmmmm 1,19 9,33 12,16 — —ANM Anima TricoloreF mmmmm 1,21 — — — —AzimutSolidity mmmmm 0,50 6,18 — 1,63 1,91BancoPostaObb.Ita Dic18 mmmmm 1,02 — — — —EpsilonItalyBo.Sh.Term A mmmmm 0,15 — — — —EpsilonItalyBo.Sh.Term B mmmmm 0,18 1,90 2,21 1,70 1,90EpsilonItalyBo.Sh.Term I mmmmm 0,20 — — — —EurizonObbl. ItaBT A mmmmm 0,19 4,70 4,36 1,99 1,81EurizonObbl. ItaBT B mmmmm 0,23 5,03 4,36 2,28 2,09PioneerOb.Sist.It Dis A mmmmm 1,20 10,15 12,13 — —PioneerOb.Sist.It Dis B mmmmm 1,19 — — — —jpmgbi italy tradedindex 1,59 12,69 — 4,24 5,43

monetariarea euro 0,15 1,69 — 1,13 1,38AcomeALiquidita' A1 mmmmm -0,01 6,94 — n.s. n.s.AcomeALiquidita' A2 mmmmm -0,02 6,93 — — —Agora Cash mmmmm 0,05 0,87 0,67 1,37 2,18AllianzLiquidita'A mmmmm 0,03 0,84 1,12 0,88 1,26AllianzLiquidita'B mmmmm 0,07 1,14 1,12 1,20 1,60AmundiLiquidita' mmmmm 0,08 1,06 0,62 0,84 1,22Anfiteatro Tesoreria mmmmm — — — — —ANM Anima Liq. EuroA mmmmm — — — — —ANM Anima Liq. EuroF mmmmm 0,10 — — — —ANM Anima Liq. EuroI mmmmm 0,09 0,97 0,62 1,42 1,99AzimutGaranzia mmmmm 0,15 2,42 — 1,35 1,38BancoPostaLiquid. EuroG mmmmm 0,16 1,85 1,62 n.s. n.s.BCCMonetario mmmmm 0,09 0,78 0,87 0,46 0,94

BnlCash mmmmm 0,04 0,69 1,11 0,60 1,15EurizonTesor.EuroA mmmmm 0,15 1,82 1,53 1,20 1,46EurizonTesor.EuroB mmmmm 0,19 2,13 1,53 1,49 —Euromob.Conservativo mmmmm 0,21 1,59 2,14 0,93 1,18Fideuram Moneta mmmmm 0,11 1,41 2,11 1,05 1,23NordfondoLiquidità mmmmm 0,17 1,76 0,77 1,07 1,49PioneerLiquidita'Euro mmmmm 0,06 0,95 0,16 1,07 —SynergiaTesoreria mmmmm 0,10 1,58 1,12 0,99 —UBIPra. Euro Cash mmmmm 0,15 1,81 1,12 1,09 1,41jpmigbi 3m cash 0,02 0,66 — 1,26 2,14

flessibilifondiflessibili -0,35 5,00 — 1,26 0,568a+GranParadiso mmmmm -0,59 -4,93 — -0,98 —8a+Latemar mmmmm -1,04 4,59 — 1,13 1,49AbisFlessibile mmmmm 0,43 7,88 — 2,61 1,76AcomeAEtf Attivo A1 mmmmm -3,79 6,05 — n.s. n.s.AcomeAEtf Attivo A2 mmmmm -3,71 7,09 — — —AcomeAPatr. Aggr.A2 mmmmm -0,81 10,21 — — —AcomeAPatr. Aggr.A1 mmmmm -0,89 8,90 — -2,00 -4,38AcomeAPatr. Dinam.A1 mmmmm -0,46 10,38 — 1,62 0,59AcomeAPatr. Dinam.A2 mmmmm -0,37 11,16 — — —AcomeAPatr. Prud. A1 mmmmm -0,12 10,56 — 4,79 3,70AcomeAPatr. Prud. A2 mmmmm -0,03 11,30 — — —Agora 4Invest mmmmm -0,14 — — — —Agora Pegasus mmmmm -1,71 — — — —Agora Selection# mmmmm -0,15 -2,33 — -0,69 -0,21Agora ValoreProtetto mmmmm -0,09 1,57 — 2,79 3,01Agoraflex QY mmmmm -0,59 — — — —Agoraflex R mmmmm -0,70 -0,60 — 2,42 2,55AlaricoRe mmmmm -1,28 -4,77 — -9,23 -6,01AlkimisCap UcitsAcc. mmmmm -0,27 3,54 — 2,65 —AlkimisCap UcitsCoup. mmmmm -0,31 — — — —AllianzGlobalStrategy 15 mmmmm 0,32 3,32 — 1,42 1,79AllianzGlobalStrategy 30 mmmmm 0,09 4,08 — 1,51 1,29AllianzGlobalStrategy 70 mmmmm -0,51 6,79 — 1,26 2,18AmundiAbsolute# mmmmm 0,99 3,97 — 0,74 1,22AmundiEquipe 1# mmmmm 0,42 2,72 — 1,05 1,48AmundiEquipe 2# mmmmm 0,66 4,45 — 1,70 1,81AmundiEquipe 3# mmmmm 0,99 5,78 — 1,98 2,19AmundiEquipe 4# mmmmm 1,08 5,80 — 2,24 1,81AmundiEu Brasile 2016G mmmmm 0,67 -5,48 — — —AmundiEu Bric 2017GY mmmmm -2,83 -2,13 — — —AmundiEu Bric Rip 2014 mmmmm 0,03 6,63 — 4,50 —AmundiEu China DW mmmmm -4,78 -5,18 — -1,37 —AmundiEu Cina Ripr 2015 mmmmm -1,98 3,27 — 1,90 —AmundiEu Cr.Ar.Euro 19G mmmmm -1,78 — — — —AmundiEu Cr.Az 2017G mmmmm -4,06 5,24 — — —AmundiEu Cr.Az II 2017G mmmmm -2,57 7,62 — — —AmundiEu Cr.Fin 2015G mmmmm -6,46 4,39 — — —AmundiEu Cr.Fin 2017G mmmmm -5,99 5,95 — — —AmundiEu Cr.Ita 2015G mmmmm -1,45 4,54 — — —AmundiEu Cr.Ita 2018G mmmmm -2,67 5,70 — — —AmundiEu Cr.Set.Imm17G mmmmm 0,02 14,67 — — —AmundiEu Cr.Tai 2018G mmmmm 0,70 12,67 — — —AmundiEu CV 17G mmmmm -1,23 4,22 — — —AmundiEu CV 18G mmmmm -0,73 — — — —AmundiEu Dop Opp 2014 mmmmm -0,96 4,50 — 2,70 —AmundiEu Double CallG mmmmm -1,13 1,53 — -0,46 —AmundiEu Double WinG mmmmm -0,05 12,80 — 4,43 —AmundiEu DoWin 2013 mmmmm 0,90 6,29 — 1,81 —AmundiEu EuEmRip17GY mmmmm -3,00 5,68 — — —AmundiEu Italia DopOp18G mmmmm — — — — —AmundiEu Ma.In.DpOp18G mmmmm -3,85 -0,66 — — —







AmundiEu Mat Pr 2015G mmmmm 1,12 4,46 — — —AmundiEu Merc. Em.18G mmmmm -1,92 — — — —AmundiEu P IV 2017G mmmmm -0,50 6,87 — — —AmundiEu Sv M P2016GY mmmmm -1,67 -1,79 — — —AmundiEu Sv.It-Fr-Sp18G mmmmm -3,41 — — — —AmundiEu Svi. Russia18G mmmmm -4,69 — — — —AmundiEu Svi.Germa18G mmmmm -0,91 — — — —AmundiEu Svil.En. 2016G mmmmm -1,84 -0,10 — — —AmundiEu Svil.Merc.Em17G mmmmm -4,06 0,19 — — —AmundiEu Utilit.DopOp18G mmmmm -0,44 — — — —AmundiEu.Cr.Cina 2017G mmmmm -7,00 4,08 — — —AmundiEu.En.DpOp18GY mmmmm -1,20 — — — —AmundiEu.Sv.Gr.Cina18G mmmmm -2,08 — — — —AmundiEur. BRICT Pr17G mmmmm -2,14 3,58 — — —AmundiEur.Svil.USA 2016G mmmmm -0,43 10,94 — — —AmundiEur.Svil.USA 2018G mmmmm -0,17 — — — —AmundiEureka Cina2015G mmmmm -2,67 3,28 — — —AmundiEureka DragonG mmmmm -0,24 4,89 — 4,22 —AmundiEureka Or 2015G mmmmm -1,32 4,35 — — —AmundiEureka Rip.2014 mmmmm -1,44 5,67 — 2,94 —AmundiEureka Rip.2016G mmmmm -1,91 10,39 — — —AmundiEureka Rip.22014 mmmmm -1,08 7,62 — 2,50 —AmundiEureka Sett.2016G mmmmm 0,35 4,45 — 1,35 —AmundiEureka Usa2015G mmmmm -0,04 4,37 — — —AmundiFoEurEqOp2 2013 mmmmm 0,20 7,41 — 3,36 —AmundiFoGaEMEqRe 2014 mmmmm -0,06 1,21 — 0,85 1,39AmundiFoGaEMEqRe2013 mmmmm -0,10 0,27 — 0,47 1,11AmundiFoGaEqRe2 2013 mmmmm -0,08 0,33 — 1,35 1,01AmundiFor EU.Eq.Op 2013 mmmmm 0,04 7,66 — 3,74 0,98AmundiFor GarDue 2013 mmmmm -0,06 0,35 — 1,27 1,35AmundiForGaEqRe 13 mmmmm -0,02 1,10 — 1,81 1,50AmundiForGaEqRe 14 mmmmm -0,68 0,98 — -0,20 —AmundiForGarHiDiv 14 mmmmm 0,04 1,52 — 1,22 0,95AmundiFormula Gar.2013 mmmmm 0,02 0,22 — 1,02 1,36AmundiPiu'# mmmmm 0,43 3,46 — 1,49 1,98Anfiteatro TotalReturn mmmmm — — — — —AnimaTr.18 It.Al.Pot.III mmmmm — — — — —ANM Anima Alto Pot.Gl.A mmmmm -0,50 3,16 — 1,50 1,69ANM Anima Alto Pot.Gl.F mmmmm -0,51 — — — —ANM Anima FondoTrading A mmmmm -1,24 6,99 — 1,53 0,81ANM Anima FondoTrading F mmmmm -1,23 — — — —AnthiliaOrangeY# mmmmm 0,79 5,19 — 1,85 1,44AnthiliaYellow mmmmm 0,30 11,60 — 2,18 2,77ArcaCap.Gar. Dic2013G mmmmm -0,06 3,07 — 0,89 —ArcaCap.Gar. Giu2013G mmmmm -0,06 0,70 — -0,17 0,21ArcaCashPlus mmmmm 0,47 4,75 — n.s. n.s.ArcaFormEuStoxx (R)2015 mmmmm -2,89 12,79 — — —ArcaFormII EStox (R)2015 mmmmm -3,09 10,00 — — —ArcaStrat.Gl.Crescita mmmmm 1,05 8,14 — 4,77 2,94ArcaStrat.Gl.Opportun. mmmmm 1,65 13,23 — 7,34 4,12AzimutDinamico mmmmm -1,26 3,92 — 0,31 0,17AzimutScudo mmmmm 0,29 7,30 — 2,51 2,49AzimutStr. Trend mmmmm -0,07 11,66 — 4,79 2,82AzimutTrend mmmmm 0,58 10,50 — 7,36 3,44AzimutTrendAmerica mmmmm -0,10 10,03 — 7,31 3,83AzimutTrendEuropa mmmmm -2,37 9,79 — -2,83 -5,98AzimutTrendItalia mmmmm -6,19 4,16 — -7,35 -9,02AzimutTrendPacifico mmmmm 0,32 7,62 — 2,14 1,31BancoPosta Extra mmmmm 0,24 3,58 — 1,27 1,81BancoPosta StepG mmmmm -1,00 -1,83 — — —BancoPosta TrendG# mmmmm 0,40 5,07 — 1,75 —BancoPostaInv Pr 90 mmmmm 0,25 3,04 — 0,77 0,45BancoPostaObbl Giu 2015 mmmmm 0,44 4,91 — — —BancoPostaObbl Giu 2017 mmmmm 0,74 8,81 — — —

BCCCedola III -2017 mmmmm — — — — —BCCCrescita Bilanciato mmmmm -0,83 4,65 — 0,25 -1,54BCCInvestimento Azion. mmmmm -1,51 6,21 — -2,86 -5,96BCCSelez. Crescita# mmmmm -0,13 n.s. — n.s. n.s.BCCSelez. Investimento# mmmmm -1,65 3,78 — 2,53 0,50BCCSelez. Opportunità# mmmmm 0,58 n.s. — n.s. n.s.BCCSelez. Risparmio# mmmmm 0,25 n.s. — n.s. n.s.BnlProtezione mmmmm -0,28 -0,14 — -1,18 1,50BNPP100%e Piu' Gr AsiaG mmmmm -1,55 -2,78 — -1,67 0,70BNPP100%e Piu' Gr EurG mmmmm -0,06 -0,67 — -0,25 0,54BNPPEquipe Attacco# mmmmm -0,54 1,58 — 0,44 -0,18BNPPEquipe Centrocampo# mmmmm -0,24 1,07 — 0,46 0,18BNPPEquipe Difesa mmmmm 0,09 2,03 — 0,58 1,64CarigeForziere Dinamico mmmmm — — — — —CarigeTotal Return 1 mmmmm -0,08 1,19 — 0,40 0,54CarigeTotal Return 2 mmmmm -0,36 -0,54 — -0,86 -2,30Consult Alto Div.Cl. A mmmmm -1,02 10,01 — 3,10 1,79Consult Alto Div.Cl. B mmmmm — — — — —Consult High YieldCl. B mmmmm — — — — —Consult Multi LowVol A# mmmmm 0,58 — — — —Consult Multi LowVol B# mmmmm 0,58 — — — —Consult Multi Med Vol A# mmmmm — — — — —Consult Multi Med Vol B# mmmmm 0,10 — — — —Consult Multi OpportA# mmmmm -0,12 — — — —Consult Multi OpportB# mmmmm -0,14 — — — —ConsultinvestMercati Em mmmmm -4,44 0,08 — -0,76 0,38ConsultinvestMulti Flex A# mmmmm -0,31 8,64 — 2,93 —ConsultinvestMulti Flex B# mmmmm -0,30 — — — —ConsultinvestPlus mmmmm -1,06 11,09 — 3,36 —ECCapProtetto 12/14P mmmmm 0,32 5,71 — 1,69 —EpsilonQReturn mmmmm -0,85 8,73 — 2,29 2,79EurizonCed.Att+ 05/18 mmmmm — — — — —EurizonCed.Att.05/18 mmmmm — — — — —EurizonCed.Att.Top05/20 mmmmm — — — — —EurizonF. Gar.03/13G# mmmmm -0,04 0,54 — 0,26 0,79EurizonF. Gar.09/12G# mmmmm 0,17 0,37 — 0,23 1,35EurizonF. Gar.12/12G# mmmmm 0,14 0,25 — 0,25 1,17EurizonGes.At.Cla02/18# mmmmm — — — — —EurizonGes.At.Cla04/18# mmmmm 0,08 — — — —EurizonGes.At.Cla11/17# mmmmm -0,02 — — — —EurizonGes.At.Cla7/17# mmmmm — — — — —EurizonGes.At.Cla9/17# mmmmm 0,02 — — — —EurizonGes.At.Din 02/18# mmmmm -0,26 — — — —EurizonGes.At.Din 04/18# mmmmm 0,08 — — — —EurizonGes.At.Din 11/17# mmmmm -0,25 — — — —EurizonGes.At.Din 9/17# mmmmm -0,15 — — — —EurizonGes.At.Din. 7/17# mmmmm -0,26 — — — —EurizonGes.At.Opp02/18# mmmmm -1,40 — — — —EurizonGes.At.Opp04/18# mmmmm 0,10 — — — —EurizonGes.At.Opp11/17# mmmmm -1,54 — — — —EurizonGes.At.Opp9/17# mmmmm -1,40 — — — —EurizonGes.At.Opp.7/17# mmmmm -1,47 — — — —EurizonGest.At.Cla 12/17# mmmmm — — — — —EurizonGest.At.Din12/17# mmmmm -0,25 — — — —EurizonGest.At.Opp 12/17# mmmmm -1,59 — — — —EurizonObiettivo Rend# mmmmm 0,07 3,29 — 1,66 1,64EurizonProfiloFle Dif.# mmmmm 0,16 3,09 — 1,55 1,66EurizonProfiloFle Equi# mmmmm 0,05 4,31 — 2,23 1,40EurizonProfiloFle Svil# mmmmm -0,12 6,05 — 2,83 1,47EurizonRend.Ass 2anni# mmmmm 0,22 3,28 — 1,49 —EurizonRend.Ass 3anni# mmmmm 0,26 4,02 — 1,24 1,42EurizonStra Pro 1tri13G# mmmmm 0,52 1,79 — 0,43 0,51EurizonStra. Flessib 15G mmmmm 0,15 1,55 — 0,54 1,64EurizonStra.Pro 1tri12G# mmmmm 0,27 6,71 — 1,86 1,93







EurizonStra.Pro 2tri12G# mmmmm 0,17 3,81 — 0,80 1,49EurizonStra.Pro IIITr11G# mmmmm -0,32 3,70 — 2,42 2,69EurizonTeam 1Cl A# mmmmm 0,24 2,71 — 1,40 1,72EurizonTeam 1Cl G# mmmmm 0,26 3,07 — 1,53 —EurizonTeam 2Cl A# mmmmm 0,25 3,28 — 1,56 2,25EurizonTeam 2Cl G# mmmmm 0,27 3,58 — 1,83 —EurizonTeam 3 ClA# mmmmm 0,40 4,56 — 1,78 1,25EurizonTeam 3 ClG# mmmmm 0,45 5,06 — 2,26 —EurizonTeam 4Cl A# mmmmm 0,44 5,98 — 2,26 0,49EurizonTeam 4Cl G# mmmmm 0,46 6,60 — 2,81 —EurizonTeam 5Cl A# mmmmm 0,12 7,81 — 2,33 0,01EurizonTeam 5Cl G# mmmmm 0,16 8,50 — 2,91 —Euromob.Real Assets mmmmm 0,71 -0,02 — 0,42 n.s.Euromob.Strategic Flex mmmmm -0,45 3,76 — 0,85 1,59Euromob.Tot. Ret. Flex3 mmmmm 0,19 3,77 — 1,37 0,10Federico Re mmmmm — — — — —FMS- AbsoluteReturn# mmmmm 0,48 1,80 — -1,19 -1,67FocusClasse A mmmmm -0,18 — — 0,76 -0,17FocusClasse R mmmmm -0,13 6,80 — — —FoiFlexEurope R mmmmm -1,72 -2,14 — — —FoiFlexEurope T mmmmm -1,68 -1,52 — — —FoiFlexItaly R mmmmm 0,03 9,37 — — —FoiFlexItaly T mmmmm 0,07 9,85 — — —FondacoGlobal Opport. BY mmmmm 0,78 — — — —FondacoGlobal Opport.Y# mmmmm 0,77 4,21 — 2,80 2,41FonderselWorld All.# mmmmm -0,19 1,54 — -0,52 -1,11FonditFlexib DynamicR mmmmm -0,42 14,15 — 3,05 -2,55FonditFlexib DynamicT mmmmm -0,31 12,00 — 2,79 —FonditFlexib StrategyR mmmmm 0,22 6,10 — 0,98 0,40FonditFlexib StrategyS mmmmm 0,22 3,10 — — —FonditFlexib StrategyT mmmmm 0,24 6,54 — 1,43 —Fonditalia FlexMulti R mmmmm -0,36 2,12 — 0,46 —Fonditalia FlexMulti T mmmmm -0,32 2,54 — 1,00 —Fonditalia FlexibGrowthR mmmmm -0,78 2,95 — 0,94 -0,42Fonditalia FlexibGrowthT mmmmm -0,74 3,27 — 1,30 —Formula 1Absolute mmmmm -1,38 4,27 — -2,31 -2,86Formula 1Conservative mmmmm -0,82 6,39 — 0,36 -0,70Formula 1Target2013 mmmmm -0,36 3,95 — 0,53 0,05Formula 1Target2014 mmmmm -0,45 5,76 — -0,16 -1,72GestielleAbsolute R mmmmm -0,71 8,22 — -0,92 1,63GestielleD Opp.2015 FAFG mmmmm -1,68 8,06 — — —GestielleHarmonia Dinam.# mmmmm -0,57 4,34 — 0,01 —GestielleHarmonia Mod.# mmmmm -0,15 3,76 — 0,53 —GestielleMult.Ab.Ret# mmmmm -0,38 5,62 — — —GestielleOb America mmmmm 0,72 6,91 — n.s. n.s.GestielleOb Brasile mmmmm -2,32 -1,09 — -2,97 —GestielleOb Cina mmmmm -4,86 1,62 — n.s. n.s.GestielleOb East Europe mmmmm -3,90 -0,53 — n.s. n.s.GestielleOb India mmmmm -4,63 -0,66 — n.s. n.s.GestielleOb Internaz. mmmmm -0,19 8,58 — n.s. n.s.GestielleOb Piu' IIP mmmmm -0,02 11,93 — — —GestielleOb Piu'P mmmmm -0,32 7,37 — 1,63 —GestielleOb Risp A mmmmm 0,34 6,51 — n.s. n.s.GestielleOb Risp B mmmmm 0,38 7,02 — n.s. n.s.GestielleOb. CedolaP mmmmm -0,68 9,61 — — —GestielleOb. Em. Mkt mmmmm -3,87 1,98 — n.s. n.s.GestielleOb. Europa mmmmm -2,61 12,52 — n.s. n.s.GestielleOb.Italia mmmmm -3,93 5,31 — n.s. n.s.GestnordAsset Allocation mmmmm 0,10 2,05 — 1,20 -1,52GIFocus Azionario mmmmm -0,27 -1,27 — -0,40 -4,41IGMFdF Flessibile Cl.A# mmmmm -0,41 4,28 — 0,63 —IGMFdF Flessibile Cl.B# mmmmm -0,35 4,98 — 1,25 —

Interf.System Evolution mmmmm 0,10 5,15 — 1,59 0,85InterfundSystem 100 mmmmm 0,08 0,73 — 0,09 -1,61InvestitoriFlessibile mmmmm -0,08 6,09 — 0,57 0,72ItalfortuneGlob TotRet mmmmm -0,38 7,61 — 0,02 n.s.KairosIncome mmmmm — 0,77 — 0,55 1,05KairosSmall Cap mmmmm -0,75 6,37 — 1,64 0,16Macro F.o. mmmmm 0,15 3,23 — -0,78 -2,85MediolanumFleStrateg. mmmmm 0,85 5,51 — n.s. n.s.MediolanumFles. Ita. mmmmm -1,58 10,67 — -1,44 n.s.MediolanumFles.Glo. mmmmm -0,04 9,11 — 2,57 n.s.OpenFund Rit. Ass. Var2# mmmmm -0,15 1,45 — 0,12 0,90OpenFund Rit.Ass Var4# mmmmm -0,22 0,66 — -1,34 -0,04PioneerTarget Controllo A mmmmm 0,15 4,61 — 2,52 2,54PioneerTarget Controllo B mmmmm 0,14 — — — —PRIMAstratEu PMI AlPoY mmmmm -1,51 5,91 — 0,91 0,20PRIMAstratEu AltoPot A mmmmm -0,64 7,01 — 3,04 3,31PRIMAstratEu AltoPot Y mmmmm -0,58 7,76 — 3,91 3,88PRIMAstratEu PMI AlPoA mmmmm -1,56 4,98 — 0,16 -0,12PRIMAstrat ItAltoPot A mmmmm -0,63 6,75 — 3,85 1,70PRIMAstrat ItAltoPot Y mmmmm -0,54 7,74 — 4,43 2,12RaiffeisenStrat. Fonds mmmmm -0,14 — — — —Sofia Flex mmmmm — — — — —SoprarnoGlobal Macro A mmmmm 0,25 -6,99 — -0,22 -0,09SoprarnoGlobal Macro BY mmmmm 0,28 -6,52 — 0,21 0,38SoprarnoInflaz. 1,5%BY mmmmm -0,21 2,07 — 2,01 2,72SoprarnoInflaz. 1,5%A mmmmm -0,23 1,81 — 1,77 2,48SoprarnoRelat ValueA mmmmm -2,99 1,03 — 0,37 2,07SoprarnoRelat. ValueBY mmmmm -2,96 1,59 — 0,84 2,55SoprarnoRit. Ass A mmmmm -0,57 1,50 — 2,27 2,02SoprarnoRit. Ass. BY mmmmm -0,55 2,00 — 2,80 2,40Star Coll.Multi Ass.Gl# mmmmm -0,08 — — — —Symp. AsiaFles. mmmmm 0,01 13,72 — 5,65 2,57Symp. Fortissimo mmmmm 0,42 16,24 — -0,42 -2,79Symp. Patrim. Attivo mmmmm 0,27 7,47 — 1,07 1,18Symp. Tematico mmmmm -0,97 2,93 — -0,17 -0,95SynergiaTotal Return mmmmm -0,69 3,63 — 1,02 —TempiD'IN-PRESA mmmmm 0,18 4,94 — — —UBIPra. Active Beta mmmmm 0,26 0,37 — -0,94 —UBIPra. Alpha Equity mmmmm 0,14 -0,10 — -1,48 —UBIPra. Tot. Ret. Din. mmmmm 0,29 0,59 — -1,61 -1,96UBIPra. Tot.Ret. Moderato A mmmmm 0,45 -0,98 — -1,26 0,88UBIPra. Tot.Ret. Moderato B mmmmm 0,44 -0,80 — -1,09 1,03Unicredit Eco Reale A# mmmmm -0,77 — — — —Unicredit Eco Reale B# mmmmm -0,81 — — — —UniCreditSol.Pa. Em. A mmmmm -1,34 2,40 — — —UniCreditSol.Pa. Em. B mmmmm -1,40 1,81 — — —UniCreditSoluzione 20A# mmmmm -0,08 3,76 — — —UniCreditSoluzione 20B# mmmmm -0,11 3,28 — — —UniCreditSoluzione 40A# mmmmm -0,37 5,12 — — —UniCreditSoluzione 40B# mmmmm -0,43 4,59 — — —UniCreditSoluzione 70A# mmmmm -0,92 6,09 — — —UniCreditSoluzione 70B# mmmmm -0,97 5,51 — — —Unicredit TrendA# mmmmm -0,67 — — — —Unicredit TrendB# mmmmm -0,71 — — — —VolterraAbsolute R mmmmm -0,44 9,63 — -1,08 1,08VolterraDinamico mmmmm -0,65 3,96 — 0,11 —VolterraModerato mmmmm -0,25 3,24 — — —ZenitMc Evoluzione Cl.I mmmmm -0,17 n.s. — n.s. n.s.ZenitMc Evoluzione Cl.R mmmmm -0,30 n.s. — n.s. n.s.ZenitMc ParsecCl.I mmmmm — — — — —ZenitMc ParsecCl.R mmmmm -0,49 n.s. — n.s. n.s.msci world -0,04 14,63 — 8,81 5,57

Qualifiche: I Indicizzato; E Etico; P Capitale Protetto; G Capitale Garantito. (#) Fondo dei fondi. (Y) Fondo riservato. (W) Fondo garantito a formula. (L) Fondo liquidità dinamico.Il benchmark a 1 anno è fornito dalle Società.






sicav e fondi esteri autorizzati Uff. Studi Il Sole-24Ore in collaborazione con e

ailis fundsFLE Ailis CedolaDinamica mmmmm -0,49 -0,23 —LEE Ailis EuroCurrency mmmmm 1,64 1,27 1,69FLE Ailis RendimentoMisto mmmmm 3,46 -0,63 —

allianz global inv. selection fundsAZE EmergingMkts mmmmm 2,53 2,03 3,35LEE EuroLiquidity mmmmm 1,09 1,18 1,59AER Europe mmmmm 15,77 3,41 -0,07AAP Pacific mmmmm 15,87 5,07 4,03AMA USA mmmmm 15,40 10,08 6,90

anima assetmgmtAnimaFundOEU Saving mmmmm 2,26 0,75 1,76AnimaPrima FundsAER Europe Eq.Prestige mmmmm 15,24 5,39 0,54OEU LifeShort Term Silver mmmmm 0,44 -0,22 -0,12LEE LiquidityA mmmmm 0,78 0,59 1,12LEE LiquiditySilver mmmmm 0,63 0,44 0,97OEU MediumTerm Bd Prest. mmmmm 8,51 3,93 4,27FLE SecureWorldEq.2Silver mmmmm 6,41 3,37 —OEU Short TermBd Prest. mmmmm 2,22 1,38 2,29FLE Star High Potent.Eur.Prest. mmmmm 8,27 4,24 -0,36FLE Star MktNeutralEur.I mmmmm -0,46 2,54 —AMA U.S.Equity Prest. mmmmm 11,52 8,32 5,20

aperta sicavAZE Em. MktsEquities mmmmm -8,70 -5,54 —OEU EuroCorporateBonds mmmmm 3,96 1,21 3,20LEE EuroReserve mmmmm 1,27 0,92 —OIN GlobalBonds mmmmm -2,09 3,33 —AIN GlobalEquities mmmmm 6,70 2,88 2,00OEU Italian Bonds mmmmm 7,09 1,24 2,69

az fund mgmt s.a.Cl. AZ Fund(ACC)OEU AggregateBond Euro mmmmm 7,90 3,84 2,74OIN AlphaManager Credit mmmmm 5,76 2,82 1,44AIN AlphaManager Equity mmmmm 7,64 1,48 -1,36AIN AlphaManager Thematic mmmmm 4,07 0,37 -2,89AMA AmericanTrend mmmmm 12,81 6,68 2,74BIL AssetPlus mmmmm 4,44 1,41 1,81BIL AssetPower mmmmm 5,61 1,65 0,95BIL Conservative mmmmm 6,24 2,58 2,66AZE Em. Market Asia mmmmm 6,75 2,22 1,70AZE Em. Market Europe mmmmm 0,79 -6,14 -7,34AZE Em. Market Latin America mmmmm -0,54 -2,50 -0,98BIL EuropeanDynamic mmmmm 5,13 0,10 -0,43AER EuropeanTrend mmmmm 12,65 -3,23 -7,02FLE Formula1 -Absolute mmmmm 6,89 -2,07 -2,18FLE Formula1 -Alpha Plus mmmmm 1,71 1,52 —FLE Formula1 -Conservative mmmmm 3,23 -0,79 -1,46FLE FormulaMacro Dyn.Trad. mmmmm 5,86 0,82 —FLE FormulaTarget 2014 mmmmm 5,59 -0,61 -2,27OEU Income mmmmm 8,23 2,51 2,98FLE Italian Trend mmmmm 2,02 -8,41 -10,42AIN LongTerm Value mmmmm 10,58 1,46 1,26AER Opportunities mmmmm 13,17 4,17 0,08AAP Pacific Trend mmmmm 8,37 2,19 1,64BIL QBond mmmmm 4,06 0,01 0,58FLE QProtection mmmmm 3,34 -0,06 0,53FLE QTrend mmmmm 3,06 -5,44 -2,09

LEE ReserveShort Term mmmmm 2,32 1,00 1,19OMI Solidity mmmmm 6,28 1,73 2,05FLE StrategicTrend mmmmm 12,48 4,59 2,39FLE Trend mmmmm 13,20 6,77 2,45OAM USIncome mmmmm 0,32 0,79 3,99

banque degroofAAP AsiaPacific Perf CCap mmmmm 3,56 -2,63 -2,80AAP AsiaPacific Perf DCap($) mmmmm 3,93 -1,13 1,65

baseinvest.s sicavOEU BondsValue mmmmm 13,21 3,27 6,72LEE Short TermEUR mmmmm 2,09 1,06 1,62

bgselection sicavAZE Africa&MiddleEast Eq mmmmm 9,11 -2,69 -3,92AEU Anima -Italy Equities mmmmm 4,76 -8,95 -11,21FLE ARC mmmmm 4,12 1,35 1,01FLE ARC10 mmmmm 5,74 2,52 1,51AZE EasternEurope Eq mmmmm -4,88 -8,11 -8,54AER GlobalDynamic mmmmm 9,23 1,50 -0,71AER Invesco-Europe Eq. mmmmm 12,14 0,38 -2,77AZE LatinAmerica Eq mmmmm -4,18 -4,70 -2,24LEE Liquidity mmmmm 1,01 0,85 1,29AMA MorganStanley-N.Am.Eq. mmmmm 6,18 4,00 0,24AIN T-Cube mmmmm 4,96 -0,58 -2,63AAP Vontobel Pacific Equities mmmmm 5,63 -2,45 -1,50

bnp paribas assetmgmtFondicomuni didiritto franceseFLE Europa AltoPotenziale2 mmmmm -0,66 0,61 —FLE Gar.Eur.3Sett-Gen2010 mmmmm 1,98 0,85 —

bny mellon assetmgmtBNYMellon Global FundsAER ContinentalEurop. Eq.($) mmmmm 17,63 4,19 0,28AZE Em. MktsEq. ValueF. mmmmm -3,43 -2,81 2,88OEU EuroGovtBond IdxTrack mmmmm 9,27 4,51 4,86OEU EurolandBond mmmmm 11,66 6,07 8,03FLE Ev. GlobalAlpha mmmmm 0,54 1,38 0,15OIN GlobalBond mmmmm 0,40 5,62 6,95OIN GlobalBond A$ mmmmm 0,15 5,25 6,33OIN GlobalBond($) mmmmm 0,65 5,78 6,86

cb-accentlux sicavOEU BondEuro mmmmm 7,59 5,04 4,83OIN Crossinvest Bond mmmmm 7,52 4,16 —OIN Swan Bond Opport. mmmmm 1,53 2,34 —FLE Swan Flexible mmmmm 1,18 0,29 —AER SwissEquity(Chf) mmmmm 22,05 8,61 6,08

credit suisseCSInvest (Lux)FLE IndexBlink B mmmmm 7,63 5,40 1,63OIN LondiniumGlobalBdsB mmmmm 3,21 2,84 —AIN LondiniumGlobalEq B mmmmm 13,36 0,61 0,47

dncaOCO DNCAConvertibles mmmmm 8,05 4,22 —SICAVDNCA InvestOCO DNCAConvertibles mmmmm 7,24 3,45 —FLE DNCAEurose mmmmm 8,18 3,45 4,84FLE DNCAMiura mmmmm 2,48 1,30 —

datial 10.04.2013 rating perf.% rendim rendimcateg. fondi cfs lorda annuo annuo

1anno 3 anni 5anni


1anno 3 anni 5anni


sicav e fondi esteri autorizzati

duemmesicavFLE GlobalTact.Asset Alloc. mmmmm 4,63 1,87 —LEE MoneyMarket C mmmmm 2,11 1,58 1,79

edmond de rothschild fundOCO Europ.Convert. BdsA C mmmmm 10,05 0,94 3,96

erselgestion inter.eOEU GloberselCorp. Bond mmmmm 8,29 4,07 2,91AIN GloberselEquity A mmmmm 13,93 6,91 3,50AZE LeaderselEm. Market Mult. mmmmm 6,22 1,52 1,48OEU LeaderselGlobalAsset mmmmm 1,20 1,11 1,47

eurizoncapital s.a.EpsilonFundOEU EuroBond mmmmm 11,30 6,01 6,89LEE EuroCash mmmmm 1,98 1,58 —EurizonFocus Formula FundFLE FormulaAzioni 2015-1 mmmmm 3,42 — —FLE FormulaAzioni 2015-2 mmmmm 6,38 — —FLE FormulaAzioni 2015-3 mmmmm 6,67 — —FLE FormulaAzioni 2015-4 mmmmm 7,69 — —FLE FormulaAzioni 2015-5 mmmmm 6,40 0,29 —EurizonFocus Riserva DocOIN Obbligaz.Corp.12/2013 mmmmm 3,29 1,77 —OIN Obbligaz.Corp.12/2014 mmmmm 4,17 2,23 —EurizonManager SelectionFundOMI MS10 mmmmm 8,24 3,81 4,86BIL MS20 mmmmm 8,21 3,89 4,65BIL MS40 mmmmm 9,00 3,72 3,13BIL MS70 mmmmm 11,06 5,43 3,53EurizonMultiasset FundBIL Challenger mmmmm 9,28 4,67 3,30BIL Dynamic mmmmm 5,18 0,31 0,24LEE EuroCash mmmmm 1,44 0,92 1,36OMI Trender mmmmm 3,19 0,63 0,98EurizonOpportunitàOIN BondSelection 2013-1 mmmmm 1,95 1,69 —RossiniLux FundOEU Obbligaz.TV mmmmm 7,57 1,20 1,64

eurizoneasyfundActiveMarketOEM BondEmerging Mkts mmmmm 9,75 9,07 10,99OEM BondEmerging Mkts mmmmm 10,72 10,21 12,19OIN BondHigh Yield mmmmm 15,72 7,33 11,25OIN BondHigh Yield mmmmm 16,95 8,52 12,47OEU BondInflation Linked mmmmm 7,66 2,56 2,80OEU BondCorpEur ST mmmmm 5,50 3,82 1,10OEU BondCorp.EurST mmmmm 4,67 2,97 -0,02AER EquitySmall Cap Europe mmmmm 14,96 2,83 0,94AER EquitySmall Cap Europe mmmmm 16,35 4,31 2,45ActiveMarket cop.rischio cambioOEM BondEmerging Mkts mmmmm 9,26 7,89 7,67OEM BondEmerging Mkts mmmmm 10,23 9,00 8,82ActiveStrategyFLE AbsoluteAttivo mmmmm 2,62 0,80 0,80FLE AbsoluteAttivo mmmmm 3,72 1,88 1,85FLE AbsolutePrudente mmmmm 3,09 1,27 1,35Limited TrackingErrorOEU BondEUR Float.Rate LTE mmmmm 7,53 1,06 —OEU BondEUR Long T. LTE mmmmm 13,39 5,44 5,79

OEU BondEUR Long T. LTE mmmmm 14,47 6,49 6,83OEU BondEUR Medium T. LTE mmmmm 5,91 2,54 3,66OEU BondEUR Medium T. LTE mmmmm 7,00 3,61 4,73OEU BondEUR Short T. LTE mmmmm 3,05 0,76 2,12OEU BondEUR Short Term LTE mmmmm 4,03 1,71 3,08OIN BondInternational LTE mmmmm -1,77 4,00 5,12OIN BondInternational LTE mmmmm -0,94 4,97 —OAP BondJPY LTE mmmmm -15,60 1,67 6,33OAM BondUSD LTE mmmmm 2,75 6,56 8,75LEE CashEUR mmmmm 1,36 0,88 1,27LEE CashEUR mmmmm 2,12 1,64 2,01AAP EquityChina LTE mmmmm 3,84 -2,73 0,81AZE EquityEm. Mkts AsiaLTE mmmmm 1,62 1,32 1,08AZE EquityEm. Mkts AsiaLTE mmmmm 3,04 2,80 2,58AZE EquityEm. Mkts EMEA LTE mmmmm 0,72 0,40 0,43AZE EquityEm. Mkts EMEA LTE mmmmm -0,67 -1,04 -1,07AZE EquityEm. Mkts LTE mmmmm -0,77 -0,79 —AEU EquityEuro LTE mmmmm 14,06 -1,51 -5,06AEU EquityEuro LTE mmmmm 15,75 -0,02 -3,62AER EquityEurope LTE mmmmm 16,50 4,53 0,54AER EquityEurope LTE mmmmm 14,79 2,95 -0,96AZF EquityFinancial LTE mmmmm 24,71 3,91 -1,65AEU EquityItaly LTE mmmmm 11,12 -7,69 -9,67AAP EquityJapan LTE mmmmm 13,96 2,34 0,44AAP EquityJapan LTE mmmmm 15,56 3,84 1,91AZE EquityLatinAmerica LTE mmmmm -3,66 -1,69 0,58AMA EquityN.America LTE mmmmm 14,08 8,79 5,76AMA EquityN.America LTE mmmmm 15,79 10,42 7,33AAP EquityOceania LTE mmmmm 22,36 7,86 7,18AAP EquityOceania LTE mmmmm 24,07 9,44 8,73LAM TreasuryUSD mmmmm 0,47 1,18 4,25LAM TreasuryUSD mmmmm -0,27 0,42 3,48Linea LTE cop. rischio cambioOER BondGBP mmmmm 3,85 8,52 6,84OAP BondJPY mmmmm 3,49 2,80 2,95OAM BondUSD mmmmm 2,32 5,32 4,88AER EquityEurope mmmmm 16,93 2,67 -0,25AAP EquityJapan mmmmm 36,76 2,74 -3,97AMA EquityNorth America mmmmm 14,61 8,42 2,17

eurizoninvest. sicavAER Europe Equities mmmmm 14,51 3,09 —FLE Scudo mmmmm 4,11 2,03 —FLE StrategicEurope mmmmm 4,09 -0,66 —

euromobiliare inter. fund sicavEurofundluxOIN AltoRendimento 2014A mmmmm 4,65 3,94 2,96OIN AltoRendimento 2014B mmmmm 4,73 3,99 3,03FLE DynamicMultimanager B mmmmm 10,52 4,25 1,38LEE EuroCash A mmmmm 1,23 0,88 1,46LEE EuroCash B mmmmm 1,55 1,22 1,78AEU EuroEquity D mmmmm 14,13 -3,03 -8,10AAP Pacific Eq.A mmmmm 4,42 3,69 3,97OEU QBondAbsolutereturn A mmmmm 2,91 2,07 —OEU QBondAbsolutereturn B mmmmm 2,99 2,25 3,00BIL QFund97A mmmmm 1,29 -0,30 —FLE TRFlex5 A mmmmm 6,83 5,73 4,15FLE TRFlex5 B mmmmm 7,48 6,38 4,81

fideuramgestions s.a. lussemburgoOEM BondGlb EmMkts mmmmm 10,31 8,53 6,98OAM BondUSD mmmmm 6,23 6,26 8,74


1anno 3 anni 5anni


1anno 3 anni 5anni



OAP BondYEN mmmmm -15,13 0,82 5,42AMP Commodities mmmmm -4,81 0,01 —AZE EqGlb EmMkts Eur mmmmm 0,79 1,04 2,18AAP EqPac. exJap. A mmmmm 19,44 4,39 4,78AMA EqUSA Advant mmmmm 6,96 4,70 4,36AMA EqUSA Value mmmmm 18,16 6,87 2,85AER EquityEurope mmmmm 13,55 1,33 -1,96AEU EquityItaly mmmmm 16,56 -4,19 -5,66AAP EquityJapan A mmmmm 11,72 1,22 0,10AAP EquityJapan H mmmmm 35,23 2,68 -1,09AMA EquityUSA A mmmmm 13,64 7,79 4,59AMA EquityUSA H mmmmm 13,43 6,75 6,98OEU EuroBd LongRisk mmmmm 15,07 6,04 5,77OEU EuroBd LowRisk mmmmm 4,74 2,97 3,98OEU EuroBd Med Risk mmmmm 9,13 5,03 5,11OEU EuroCorp. Bd mmmmm 6,02 3,73 4,29OEU EuroDefensive Bd mmmmm 2,17 1,40 2,47OEU EuroShort Term mmmmm 1,26 0,97 1,38AER Europe Eq.Grth mmmmm 14,30 3,81 —FLE FlexibleOpp. mmmmm 0,40 -1,05 —OIN InflationLinked mmmmm 6,81 7,09 4,86AIN MarshallWaceTops mmmmm 4,75 2,46 —

generali fund mgmt s.a.FLE VoBaFlex mmmmm 7,39 -0,34 —OMI VoBaMoney Plus mmmmm 2,26 1,28 —

generali invest.s sicavOEU EuroBonds mmmmm 9,28 4,68 5,06OEU EuroCorporateBonds mmmmm 7,95 4,79 5,78LEE EuroShort Term Bonds mmmmm 2,59 1,43 1,88OEU Europ.High Yield Bonds mmmmm 10,17 7,03 7,15FLE Garant1 mmmmm 6,30 2,98 2,95FLE Garant2 mmmmm 2,92 1,01 1,89FLE Garant3 mmmmm 1,68 0,77 —FLE Garant4 mmmmm 3,34 0,67 —

gestielleinv. sicavOEU BondEuro (R) mmmmm 6,77 2,34 3,19

hsbcOEU EuroGvt Bd C mmmmm 9,95 4,54 5,58

hsbc global inv. fundsAAP AsiaexJapan Eq. ($) mmmmm -1,31 0,74 2,35AAP AsiaPac exJapEqH.Dv($) mmmmm 11,35 6,32 7,75AZE BrazilEquity mmmmm -4,32 -2,84 -0,58AZE BrazilEquity($) mmmmm -3,84 -2,35 -0,08AZE BRIC Equity($) mmmmm -6,63 -5,23 -1,55AZE BRIC MktsEq($) mmmmm -1,28 -3,72 -1,20AZE BRIC MktsEq($) mmmmm -1,78 -4,20 -1,69OEU EuroBond mmmmm 9,39 5,55 6,58OEU EuroCredit Bond mmmmm 11,48 6,44 6,77LEE EuroReserve mmmmm 0,02 0,25 0,79AEU EurolandEquity mmmmm 20,38 -0,79 -2,52AEU EurolandGrowth mmmmm 16,28 0,51 -2,25OEU Europ High Yield Bd mmmmm 17,65 9,44 10,79FLE Glb Currency($) mmmmm -1,36 -1,23 —OEM Glb EmMkts Bond ($) mmmmm 12,32 11,45 14,54OEM Glb EmergingMktsBonds mmmmm 11,71 10,91 14,07AZE KoreanEquity($) mmmmm -8,56 -0,63 -1,79AZE Russia Equity($) mmmmm -9,31 -5,80 -5,35AZE TurkeyEq mmmmm 52,40 11,16 —

AER UKEquity (Gbp) mmmmm 14,37 9,12 2,11

hsbc multi index fundsAMA USEquity BHed mmmmm 13,78 8,59 1,40

julius baer, zurigoJB MultibondOIN AbsoluteReturn Bd B mmmmm 3,15 2,10 3,09OIN AbsoluteReturn Bd B(Chf) mmmmm 1,38 6,99 7,43OIN AbsoluteReturn Bd Def B mmmmm 2,25 1,66 —OIN AbsoluteReturn Bd Plus B mmmmm 2,88 3,12 4,49OIN Cred Opportunities B mmmmm 9,06 6,56 —OAM DollarBond B($) mmmmm 3,12 6,30 7,40OEM EmergingBd EUROB mmmmm 11,43 8,97 8,07OEM EmergingBd USD B($) mmmmm 11,70 10,45 13,44OEU EuroBond B mmmmm 7,87 5,82 —OEU EuroGov.Bd B mmmmm 8,87 4,10 4,32OCO GlobalConvert Bond B mmmmm 6,40 2,37 -0,07OIN GlobalH.Y. Bond B mmmmm 12,85 7,05 6,50OEU InflationLinked Bd B mmmmm 3,51 2,84 —OAM InflationLinked Bd B($) mmmmm 2,38 6,04 —OEM LocalEmerg.Bd B($) mmmmm 11,53 7,96 10,59OER SwissFranc Bond B(Chf) mmmmm 1,00 8,18 7,32OEU TotalReturn Bond B mmmmm 4,73 4,63 4,42JB MulticashLAM JBMMDollar-USD B mmmmm 0,08 1,17 4,15LEE JBMMEuro-EUR B mmmmm -0,13 0,24 0,74LEE JBMMSterling-GBP B mmmmm -3,05 1,18 -0,34LEE JBMMSwiss Franc-CHF B mmmmm -1,29 5,71 5,26JB MulticooperationAMP CommodityB mmmmm -6,88 1,01 -9,44AMP Commodity-USD/B($) mmmmm -6,26 2,92 -4,30BIL StrategyBalanced B mmmmm 6,97 5,10 3,45BIL StrategyBalanced B(Chf) mmmmm 5,34 7,72 5,87BIL StrategyIncomeB mmmmm 5,04 4,62 4,13BIL StrategyIncomeB($) mmmmm 4,50 5,10 6,33BIL StrategyIncomeB(Chf) mmmmm 2,96 7,19 6,30JB MultistockAAP AsiaStockB($) mmmmm -1,89 -0,46 0,36AZE CentralEurope StockB mmmmm 4,01 -2,86 -5,04AER Eur.Selection FdB mmmmm 13,66 -0,71 -0,10AER Eur.Small& Mid Cap B mmmmm 22,47 7,79 3,75AEU Eurol.ValueSt. B mmmmm 12,39 -0,16 -3,91AER Europe St. B mmmmm 11,61 0,30 -2,57AEU German ValueSt. B mmmmm 14,89 7,44 2,47AZE Glb EmgMkts B mmmmm -1,85 -1,56 -1,82AIN GlobalEq IncomeB mmmmm 9,51 2,35 0,14AAP JapanStockB(Jpy) mmmmm 12,92 5,70 6,70AIN JBEFSpecial Val. EUR mmmmm 11,41 4,88 5,60ACG LuxuryBrands (EUR)B mmmmm 12,46 17,12 14,22AER SwissSmall&Mid CapB(Chf) mmmmm 10,19 5,77 4,79AER SwissSt. B(Chf) mmmmm 18,00 6,58 6,04AMA USLeading St. B($) mmmmm 6,99 10,97 7,20

kairosinter. sicavAMA KIS -America P mmmmm 6,99 4,94 —AAP KIS -AsiaP mmmmm 6,08 -1,65 —OER KIS -Bond P mmmmm 9,37 3,59 —FLE KIS -DynamicP mmmmm 2,49 0,45 3,12AEU KIS -SmallCap P mmmmm 4,17 1,31 0,29

lemanik sicavBIL Italy Cap Retail mmmmm 8,27 -3,81 -1,16


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1anno 3 anni 5anni



luxicav sicavAER AzionarioEuropa B mmmmm 0,31 -9,09 -8,81OIN ObbligazionarioB mmmmm 6,39 3,81 4,25

mediolanum inter. f.CH - Challenge Funds - Classi MediolanumACG Counter CyclEq L mmmmm 18,10 9,37 7,72ACG CyclicalEq L mmmmm 14,12 7,97 3,78AZE Emerg. MktsEq. L mmmmm -0,12 -0,21 0,46AZE Emerg. MktsEq. S mmmmm -0,65 -0,72 -0,06AEN Energy Eq.L mmmmm 3,19 0,58 0,15OEU EuroBd L-A mmmmm 9,45 3,14 4,26OEU EuroBd S-B mmmmm 9,20 2,90 4,01OEU EuroIncomeL-A mmmmm 2,00 1,01 1,95AER EuropeanEq.L mmmmm 13,94 2,15 -2,57AER EuropeanEq.S mmmmm 13,33 1,60 -3,08AZF Financial Eq.L mmmmm 19,81 1,19 -3,40FLE FlexibleL-A mmmmm -0,20 -3,83 -2,02FLE FlexibleS-A mmmmm -0,63 -4,23 -2,43AEU GermanyEq. L mmmmm 13,93 3,55 0,10OIN InternBd L-A mmmmm -5,59 4,31 —OIN InternBd L-ACop mmmmm 1,85 4,49 3,68OIN InternBd L-B mmmmm -5,59 4,28 —OIN InternBd S-A Cop mmmmm 1,37 4,15 3,46OIN InternBd S-BCop mmmmm 2,02 4,39 3,61OIN InternIncL-A mmmmm -7,30 -0,23 —OIN InternIncL-A Cop mmmmm -1,41 -0,01 0,83OIN InternIncL-B mmmmm -7,30 -0,25 —AIN InternationalEq L mmmmm 12,48 4,86 1,09AIN InternationalEq S mmmmm 12,02 4,40 0,66AEU Italian Eq.L mmmmm 12,34 -6,12 -7,41LAM Liquid.US$ S mmmmm -0,57 0,14 3,60LEE LiquidityEuroL mmmmm 0,36 0,62 1,12LEE LiquidityEuroS mmmmm 0,24 0,49 0,99AMA NorthAmer. Eq. L mmmmm 13,35 8,65 4,52AMA NorthAmer. Eq. S mmmmm 12,74 8,07 3,96AAP Pacific Eq Lcop mmmmm 21,25 1,18 —AAP Pacific Eq.L mmmmm 12,61 2,80 1,02OIN Solidity& ReturnS-A mmmmm 5,14 1,43 2,15AEU SpainEq. L-A mmmmm 16,24 -4,65 -4,62ATE TechnologyEq. L mmmmm 0,66 3,78 4,33MediolanumBest BrandsAIN BlackRockGlb L mmmmm 7,30 2,47 1,34AIN BlackRockGlb L cop mmmmm 8,02 1,50 -0,75AIN BlackRockGlb S mmmmm 6,87 2,05 0,93AIN BlackRockGlb S cop mmmmm 7,65 1,09 -1,17AZE EmMkts Coll L mmmmm 3,43 1,71 0,76AZE Em. MktsColl S mmmmm 2,92 1,21 0,26AIN Eq.Power Coup. Coll L mmmmm 8,59 4,92 1,13AIN Eq.Power Coup. Coll S mmmmm 8,16 4,50 0,72OEU EuroFixedIncomeL B mmmmm 1,19 0,60 1,27OEU EuroFixedIncomeS B mmmmm 0,94 0,37 1,03AER EuropeanColl L mmmmm 14,49 5,74 -0,18AER EuropeanColl Lcop mmmmm 15,01 4,71 -0,65OIN Glb High Yield cop LA mmmmm 9,88 7,12 7,11OIN Glb High Yield cop SA mmmmm 9,47 6,83 6,78OIN Glb High Yield cop SB mmmmm 9,51 6,69 6,79OIN Glb High Yield LA mmmmm 10,36 7,99 10,66OIN Glb High Yield LB mmmmm 10,36 7,99 10,66OIN Glb High Yield SA mmmmm 10,03 7,67 10,32OIN Glb High Yield SB mmmmm 10,03 7,85 10,43ATE Glb Tech Coll L mmmmm -5,92 3,37 4,54

AIN JPMorganGlb L mmmmm 8,75 3,19 1,34AIN JPMorganGlb Lcop mmmmm 9,64 2,31 -0,66AIN JPMorganGlb S mmmmm 8,31 2,76 0,94AIN JPMorganGlb S cop mmmmm 9,24 1,89 -1,04AIN MStanleyGlb L mmmmm 9,01 6,45 3,45AIN MStanleyGlb Lcop mmmmm 9,11 5,19 1,49AIN MStanleyGlb S mmmmm 8,57 6,02 3,04AIN MStanleyGlb Scop mmmmm 8,62 4,72 1,06AAP Pacific Coll L mmmmm 9,20 1,12 0,74FLE PremiumCoup.Coll Scop mmmmm 4,84 2,17 —AMA USCollection L mmmmm 5,65 5,66 3,04AMA USCollection Lcop mmmmm 4,81 4,27 -0,40PortfolioFund - Classi MediolanumAIN Active100 S mmmmm 9,67 3,08 0,92BIL Active40 S mmmmm 3,12 1,77 1,54BIL Active80 S mmmmm 6,12 2,52 0,29AIN AggressivePlus S mmmmm 10,22 3,65 0,73LEE LiquiditySA mmmmm 0,42 0,66 1,25

mfsmeridian funds sicavAAP Asiaex-Japan A1($) mmmmm 5,75 4,96 5,70OEM Emerg.MktsDebt A1($) mmmmm 12,62 10,71 14,02AER Europ.Smaller Comp.A1 mmmmm 23,42 17,09 10,39AER EuropeanRes. A1 mmmmm 20,81 8,11 3,28AER EuropeanValueA1 mmmmm 19,85 9,56 6,19AIN GlobalConcentratedA1($) mmmmm 22,30 10,33 7,75AIN GlobalEquity A1 mmmmm 21,39 11,14 7,99AIN GlobalEquity A1($) mmmmm 20,98 10,61 7,94FLE GlobalMulti-AssetA1($) mmmmm 6,45 — —AIN GlobalResearchA1($) mmmmm 12,15 — —BIL GlobalTotal ReturnA1 mmmmm 11,94 8,36 7,49OAM High Yield A1($) mmmmm 11,92 10,40 11,30OIN Inflat-AdjustedBond A1($) mmmmm 3,78 8,22 8,45OAM LimitedMaturity A1($) mmmmm 1,57 2,69 6,08OAM ResearchBond A1($) mmmmm 4,73 6,46 9,46AMA USConc. Growth A1($) mmmmm 12,83 10,06 8,28OAM USGovernmentBd A1($) mmmmm 1,67 4,71 8,18AMA ValueA1($) mmmmm 18,90 9,95 6,97

morganstanley invest. mgmt ltdAAP AsianEquity mmmmm 5,27 3,28 3,36AAP AsianEquity mmmmm 6,34 4,34 4,40ARE AsianProperty mmmmm 39,40 12,09 7,28ARE AsianProperty mmmmm 40,73 13,23 8,37FLE Diversified Alpha Plus mmmmm 7,06 2,75 —FLE Diversified Alpha Plus mmmmm 8,13 3,77 —OEM EmergingMktsDebt mmmmm 11,25 9,11 7,25OEM EmergingMktsDebt mmmmm 10,61 9,23 11,12OEM EmergingMktsDebt mmmmm 11,73 10,32 12,23OEM EmergingMktsDom. Debt mmmmm 8,31 5,85 9,58OEM EmergingMktsDom. Debt mmmmm 9,38 6,91 10,68AZE EmergingMktsEquity mmmmm 6,22 2,70 1,12AZE EmergingMktsEquity mmmmm 7,25 3,74 2,12AZE EmEurop,M-East&Africa Eq mmmmm 8,72 0,04 -3,77AZE EmEurop,M-East&Africa Eq mmmmm 9,79 1,03 -2,86OEU EuroBond mmmmm 7,14 3,74 4,56OEU EuroBond mmmmm 8,18 4,78 5,61OEU EuroCorporateBond mmmmm 10,82 4,78 5,65OEU EuroCorporateBond mmmmm 11,91 5,82 6,71LEE EuroLiquidity mmmmm 0,01 0,01 0,48OEU EuroStrategicBond mmmmm 8,54 4,42 5,05OEU EuroStrategicBond mmmmm 9,63 5,48 6,11OER Europ.Curr.HighYield Bd mmmmm 17,30 8,94 10,18


1anno 3 anni 5anni


1anno 3 anni 5anni



OER Europ.Curr.HighYield Bd mmmmm 16,07 7,85 9,10AER EuropeanEquityAlpha mmmmm 15,32 6,12 1,94AER EuropeanEquityAlpha mmmmm 16,49 7,20 2,97ARE EuropeanProperty mmmmm 19,71 6,77 -1,81AEU Eurozone EquityAlpha mmmmm 20,17 3,68 —OIN GlobalBond mmmmm 1,79 4,38 6,68OIN GlobalBond mmmmm 2,81 5,42 7,75AIN GlobalBrands mmmmm 12,29 11,91 6,49AIN GlobalBrands mmmmm 12,13 12,78 10,86AIN GlobalBrands mmmmm 13,26 13,90 11,97AIN GlobalBrands mmmmm 12,36 12,97 —AIN GlobalBrands mmmmm 11,19 10,82 —OCO GlobalConvertib.Bd mmmmm 7,00 2,85 —OCO GlobalConvertib.Bd mmmmm 8,08 3,90 —OCO GlobalConvertible Bond mmmmm 7,48 4,18 5,25OCO GlobalConvertible Bond mmmmm 8,53 5,23 6,30ARE GlobalProperty mmmmm 25,42 12,06 6,01AAP IndianEquity mmmmm 4,07 -5,03 0,52AAP IndianEquity mmmmm 5,11 -4,08 1,53AZE LatinAmerican Equity mmmmm 3,94 0,63 1,71AZE LatinAmerican Equity mmmmm 5,01 1,67 2,75OEU Short MaturityEuro Bond mmmmm 1,69 0,86 1,82OEU Short MaturityEuro Bond mmmmm 2,71 1,86 2,82AMA USAdvantage mmmmm 6,14 11,00 7,01AMA USAdvantage mmmmm 5,86 11,65 11,27AMA USAdvantage mmmmm 6,97 12,78 12,38AMA USAdvantage mmmmm 6,13 11,84 —AMA USAdvantage mmmmm 5,08 9,86 —AMA USGrowth mmmmm 0,90 7,97 2,09AMA USGrowth mmmmm 0,69 8,82 6,63AMA USGrowth mmmmm 1,72 9,92 7,72ARE USProperty mmmmm 16,33 14,63 8,35

nefAEU AzionarioEuro mmmmm 21,28 4,64 1,38AZE AzionarioEuropa Est mmmmm -2,48 -4,39 -7,73AIN AzionarioGlobale mmmmm 9,16 0,46 -2,56AZE AzionarioPaesi Emergenti mmmmm 6,64 13,13 7,14AMA AzionarioStati Uniti mmmmm 16,57 5,37 4,11OEU CedolaR mmmmm -1,13 0,31 -0,91FLE Flessibile mmmmm 0,64 -2,66 1,00ARE Immobiliare mmmmm 22,02 9,44 -0,99OEU Obbligaz.Breve Termine mmmmm 2,98 1,74 2,89OCO Obbligaz.Convertibile mmmmm 6,52 0,45 0,14OEU Obbligaz.Euro mmmmm 6,85 3,55 4,90OEU Obbligaz.EuroCorporate mmmmm 5,53 4,29 5,58OIN Obbligaz.Globale mmmmm 4,77 3,78 5,67OEM Obbligaz.Paesi Emergenti mmmmm 10,09 8,37 7,91

neutral sicavOIN InflationLinked Bds R mmmmm 3,77 3,79 2,91

new millenniumsicavOEU Augustum CorporateBond mmmmm 7,96 3,29 6,70OEU Augustum CorporateBond mmmmm 8,60 3,88 —OEU Augustum High Qual.Bond mmmmm 5,20 2,59 4,29OEU Augustum High Qual.Bond mmmmm 5,59 2,97 —OEU EuroBondsShort Term mmmmm 3,29 0,39 —OER LargeEurope Corporate mmmmm 7,67 4,68 —FLE Q7Globalflex mmmmm 5,62 -0,65 —FLE TotalReturn Flexible mmmmm 2,00 0,60 1,79

pegaso capital sicav

FLE PegasoStrat. TrendRet mmmmm 4,30 — —

pharmawhealth manag. company s.a.AZH Pharma/wHealth($) mmmmm 20,07 9,11 11,17

pimco funds: global investor series plcOIN DiversInc EDis($) mmmmm 11,19 10,24 12,84OIN DiversInc Ehdg mmmmm 10,86 9,19 —OIN DiversInc E($) mmmmm 11,18 10,23 12,89OEM EmLocal Bd EAcc($) mmmmm 10,43 8,12 —OEM EmMkts Bd EAcc($) mmmmm 12,32 11,13 12,39OEM EmMkts Bd EEur hdgAcc mmmmm 11,76 9,95 7,90OEM EmMkts Bd E($) mmmmm 12,22 11,10 12,36OEM Em.Mkts.Cur.E Acc mmmmm 4,27 3,40 —OEU EuriborPLUS EAcc mmmmm 2,06 1,10 1,68OEU EuroBond E mmmmm 11,17 6,88 5,35OEU EuroBond EAcc mmmmm 11,13 6,88 5,37OIN Glb Bd EAcc hdg mmmmm 7,93 7,76 6,77OIN Glb Bd EAcc($) mmmmm 8,12 8,57 10,41OIN Glb Bd Ex-US E($) mmmmm 9,67 8,68 —OIN Glb H.YBd E($) mmmmm 12,92 10,40 12,41OIN Glb H.Y. Bd Ehdg Acc mmmmm 12,49 9,22 8,33OIN Glb InvGrCr.E Acc hdg mmmmm 9,46 7,57 7,68OIN Glb InvGrCr.E($) mmmmm 9,82 8,46 —OIN Glb RealRetE Acchdg mmmmm 7,93 8,15 6,22OIN Glb RealRetE Acc($) mmmmm 8,16 8,99 9,96OIN Glb RealRetE Dis($) mmmmm 8,16 9,00 9,97OIN GlobalBond E($) mmmmm 8,19 8,57 10,48OAM H.Y. Bd EAcc hdg mmmmm 11,42 8,99 6,99OAM H.Y. Bd EAcc($) mmmmm 11,93 10,15 11,03OAM H.Y. Bd E($) mmmmm 11,78 10,10 10,96OAM LowAvg Durat.E($) mmmmm 2,86 3,10 6,95OAM T.R. Bd EAcc hdg mmmmm 5,00 5,03 6,12OAM T.R. Bd EAcc($) mmmmm 5,26 5,91 9,92OAM T.R. Bd E($) mmmmm 5,31 5,90 9,90OIN UnconstrainedBd E mmmmm 4,47 3,21 —

pioneer assetmgmt s.a.Pioneer FundsOIN AbsolutRet.Bond E mmmmm 0,88 -0,01 —FLE AbsolutRet.M.Str. E mmmmm 4,62 1,57 —FLE AbsolutReturn Curr. E mmmmm 1,33 0,15 0,84AAP Asia(ex Japan)Eq. E mmmmm 0,86 -1,53 0,28AAP China Eq.E mmmmm 6,79 — —AAP China Eq.F mmmmm 5,99 — —AER Core Europ.Eq. E mmmmm 18,42 6,22 3,36AZE Em. Eur.Med. Eq. E mmmmm 7,80 -0,07 -1,37AZE Em. Eur.Med. Eq. F mmmmm 7,00 -0,82 -2,11OEM Em. MktsB.E Hed. mmmmm 13,31 9,90 6,37OEM Em. MktsBond E mmmmm 13,85 11,14 11,03OEM Em. MktsBond F mmmmm 12,92 9,89 10,01AZE Em. MktsEq. E mmmmm -3,71 -3,64 -3,63AZE Em. MktsEq. F mmmmm -4,44 -4,36 -4,35OEU EuroAggr.Bond E mmmmm 8,32 5,63 6,89OEU EuroAggr.Bond F mmmmm 7,87 5,21 6,47OEU EuroBond E mmmmm 9,76 5,15 5,71OEU EuroBond F mmmmm 9,15 4,56 5,13OEU EuroCash Plus E mmmmm 2,83 2,08 3,28OEU EuroCorp. Short T.E mmmmm 4,32 2,35 2,93OEU EuroCorp. Short T.F mmmmm 3,95 2,00 2,57OEU EuroCorporateBond E mmmmm 9,19 5,97 6,26OEU EuroCorporateBond F mmmmm 8,14 5,04 5,11OEU EuroH. Y.E mmmmm 16,32 9,32 13,04


1anno 3 anni 5anni


1anno 3 anni 5anni



OEU EuroH. Y.F mmmmm 15,62 8,66 12,37LEE EuroShort T. E mmmmm 1,33 1,20 1,56LEE EuroShort T. F mmmmm 0,97 0,84 1,21OEU EuroStrategicBond E mmmmm 10,31 7,02 10,78OEU EuroStrategicBond F mmmmm 9,64 6,38 10,12AEU EurolandEquity E mmmmm 25,06 6,63 1,91AEU EurolandEquity F mmmmm 24,14 5,83 1,15AER EuropeanEq.Value E mmmmm 23,42 4,47 —AER EuropeanPotentialE mmmmm 23,81 10,40 3,44AER EuropeanPotentialF mmmmm 22,88 9,57 2,67AER EuropeanResearchE mmmmm 15,93 6,17 1,58AIN Glb Eq.Tar. IncomeE mmmmm 14,01 5,09 2,21OIN GlobalAggr.Bond E mmmmm 1,77 5,99 8,30AIN GlobalEcology E mmmmm 19,21 3,61 0,21AIN GlobalEcology F mmmmm 18,30 2,83 -0,54BIL GlobalMulti Asset E mmmmm 6,72 — —AIN GlobalSelectE mmmmm 15,44 5,34 1,80AIN GlobalSelectF mmmmm 14,58 4,55 1,04AAP IndianEquity E mmmmm -3,85 -7,94 —AAP IndianEquity F mmmmm -4,55 -8,62 —AEU Italian EquityE mmmmm 18,85 -4,80 -8,37AEU Italian EquityF mmmmm 17,97 -5,51 -9,06AAP JapaneseEq. E mmmmm 11,89 1,35 0,51AZE LatinAm.Equity E mmmmm -2,88 -2,90 —AZE LatinAm.Equity F mmmmm -3,62 -3,63 —OEU Obbl. Euro09/2014 E mmmmm 1,46 0,04 —OEU Obbl. Euro10/2014 E mmmmm 1,64 0,31 —OEU Obbl. Euro11/2014 E mmmmm 2,14 1,00 —OEU Obbl. Euro12/2014 E mmmmm 2,35 1,04 —OIN StrategicIncomeE mmmmm 9,14 8,40 11,34OIN StrategicIncomeE Hed. mmmmm 8,72 7,25 6,84OIN StrategicIncomeF Hed. mmmmm 7,56 5,96 5,80AER TopEurop. Play. E mmmmm 19,09 8,49 3,15AER TopEurop. Play. F mmmmm 18,21 7,69 2,38OAM U.S.Dollar Aggregate Bd E mmmmm 5,90 7,24 10,46LAM U.S.Dollar Short T. E mmmmm 3,43 3,63 5,64LAM U.S.Dollar Short T. F mmmmm 3,07 3,28 5,28AMA U.S.Fundam. Growth E mmmmm 13,78 14,46 —AMA U.S.Pioneer FundE mmmmm 16,19 8,27 5,75AMA U.S.Pioneer FundE Hed. mmmmm 15,18 6,20 0,18AMA U.S.Pioneer FundF mmmmm 15,24 7,43 4,94AMA U.S.Res. Value E mmmmm 17,61 9,03 —AMA U.S.Research E mmmmm 14,13 10,98 8,43AMA U.S.Research EHed. mmmmm 13,16 8,85 2,73AMA U.S.Research F mmmmm 13,43 10,14 7,61OAM USCredit Rec.2014 EHed. mmmmm 2,04 3,05 —OAM USCredit Rec.2014 FHed. mmmmm 1,93 1,86 —AMA UsMidCap ValueE mmmmm 13,21 7,08 6,53Pioneer PFBIL GlobalDefensive20 E mmmmm 9,51 4,51 3,53Pioneer SFOEU EuroCurve1-3y E mmmmm 2,95 1,64 2,81OEU EuroCurve1-3y F mmmmm 2,53 1,23 2,39OEU EuroCurve10+y E mmmmm 15,74 6,60 6,65OEU EuroCurve3-5y E mmmmm 5,98 3,32 4,58OEU EuroCurve3-5y F mmmmm 5,40 2,75 4,00OEU EuroCurve7-10y E mmmmm 12,19 5,06 5,76OIN GlobalCurve1-3y E mmmmm -5,56 0,61 3,86

planetarium fundAMA AmericanSelection($) mmmmm 3,97 0,11 —FLE AnthiliaGrey A mmmmm 1,43 1,49 —OAM DollarBonds A($) mmmmm 5,42 5,13 8,12

OEU Eurocurrencies BondsA mmmmm 5,48 3,24 4,12FLE Flex80 mmmmm 17,61 3,30 1,20FLE Flex90 mmmmm 11,69 5,23 4,50AER FundamentalEurop. Sel. A mmmmm 15,77 2,37 —

polarisinvest. s.a.BIL Ethical Glb Balanced mmmmm 2,82 0,52 1,99AIN GEOEquity Glb III mmmmm 8,05 7,79 —AIN GEOEquity Glb V mmmmm 15,79 5,60 —FLE GEOGlb B.Tot Ret VI mmmmm -0,53 1,66 —OIN GEOGlb Bond mmmmm 5,47 5,21 —OIN GEOGlb Real Bond II mmmmm -1,68 0,35 —

popso (suisse) invest. fund sicavOEU EuroBond mmmmm 5,15 2,96 3,62AER EuropeanEquity mmmmm 10,69 -1,00 -2,32FLE Flex mmmmm 2,52 0,21 1,40OCO GlobalConvertible Bd mmmmm 8,70 4,20 2,89OEU Short MaturityEuro Bond mmmmm 2,41 1,36 1,91OER SwissFranc Bond (Chf) mmmmm 1,35 6,92 7,85OAM UsaDollar Bond ($) mmmmm 0,85 2,21 5,92

rinascimentosicavAER Augustum GAMES mmmmm 12,86 2,78 4,46

robeco samAIN RobecoSAM GlobEqu EUR/B mmmmm 14,76 6,27 2,19AZH RobecoSAMHeal LivEUR/B mmmmm 17,40 7,05 7,78AMP RobecoSAM MaterialEUR/B mmmmm 1,67 7,03 1,18AUT RobecoSAMS.Water EUR/B mmmmm 16,90 3,87 2,70AEN RobecoSAMSmEnergyEUR/B mmmmm -0,98 -5,84 -2,96

roveresicavAER Az. Europa RC mmmmm 16,90 5,49 —AMA Az. NordAmerica RC mmmmm 9,75 6,93 —BIL Bilanciato Obblig.RC mmmmm 5,91 0,92 —OEU Obbl. B.TermineRC mmmmm 2,69 1,92 —OEU ObbligazionarioRC mmmmm 4,98 2,83 —

sarasin invest.fondssicavAZE SarEmerging-Gl($) mmmmm 6,25 3,17 3,04AIN SarEquiSar-Global-A mmmmm 16,13 5,92 3,35BIL SarGl Ret(EUR) mmmmm 6,59 2,87 3,83BIL SarGl Sar-Balanced(CHF) mmmmm 10,26 7,78 4,72BIL SarGl Sar-Balanced(EUR) mmmmm 12,32 4,55 2,01BIL SarGl Sar-Growth (EUR) mmmmm 15,59 — —AEN SarNewPower B mmmmm 0,88 -9,20 -14,65AIN SarOeko Eq-Gl A mmmmm 11,60 3,71 1,32AIN SarOeko Eq-Gl F mmmmm 12,31 4,37 —ARE SarRealE GlA mmmmm 28,43 13,82 4,40ARE SarRealE GlB mmmmm 28,42 13,82 4,40OER SarSust Bd-CHF mmmmm 0,49 7,97 8,35OEU SarSust Bd-EUR mmmmm 4,67 3,57 4,63OIN SarSust Bd-EurCorp. mmmmm 5,44 — —AER SarSust Eq-EuA mmmmm 14,24 3,62 -0,63AIN SarSust Eq-Gl mmmmm 10,82 6,93 1,24ARE SarSust Eq-Real EGl mmmmm 25,77 11,40 7,66BIL SarSust Por-Balanced (EUR) mmmmm 8,31 — —AUT SarSust Water A mmmmm 21,27 8,43 6,55

sarasin multi label sicavsemburgoFLE RM Strategic(EUR) mmmmm 7,71 2,79 2,75


1anno 3 anni 5anni


1anno 3 anni 5anni



sellacapital mgmt sicavOEU EuroCorp Bd I mmmmm 8,76 4,97 —

symphonia lux sicavFLE SymphoniaAltoValore mmmmm 5,54 -0,37 —AIN SymphoniaBestvalue mmmmm 16,11 6,45 —

ubipramericaUBI SicavOEU EuroFixedInc.-R mmmmm 7,58 2,97 4,12

unipol fondiLEE Liquidità mmmmm 1,39 1,24 1,54AEU PerformanceEuro mmmmm 13,01 -1,68 -4,93

vontobel invest. fundsOIN AbsRet Bd mmmmm 1,33 0,73 1,89OIN Abs. Return Bd (CHF) mmmmm -0,63 5,68 6,12AMP BelvistaComm. ($) mmmmm -6,90 -0,15 -3,91AAP China StarsEq ($) mmmmm 4,39 0,84 3,64BIL Def BalPf mmmmm 2,86 1,74 1,27OEM EasternEuropean Bd mmmmm 11,92 3,66 5,90AZE EmergingMktsEq mmmmm 6,04 11,05 4,66AZE EmergingMktsEq mmmmm 5,41 10,61 —AZE EmergingMktsEq ($) mmmmm 6,31 12,49 8,95AZE EmergingMktsEq ($) mmmmm 6,95 13,17 9,60OEU EURCorp Bd Mid Yield mmmmm 11,87 6,38 4,77OEU EuroBd mmmmm 9,49 4,08 4,99LEE EuroMoney mmmmm 0,66 1,28 1,93

AER Europ.Value Eq mmmmm 22,87 12,90 4,98AER Europ.Mid&Sm.CapEq mmmmm 12,16 6,64 1,70AAP FarEastEq ($) mmmmm 13,14 10,60 6,73AEN FutureResources mmmmm 7,91 3,69 —OCO GlbConvertBd mmmmm 7,51 2,93 —AIN GlbValEqEx-US ($) mmmmm 14,71 9,96 4,32AIN GlbValueEq mmmmm 12,08 10,19 2,32AIN GlbValueEq($) mmmmm 13,20 12,97 7,72AEN NewPower mmmmm 11,89 -1,60 -7,29OER SwissFranc Bd (Chf) mmmmm 0,90 8,79 9,63AER SwissMid&SmCapEq (Chf) mmmmm 15,18 4,64 2,84LEE SwissMoney (Chf) mmmmm -0,66 6,05 6,53OAM USDollar Bd ($) mmmmm 3,37 5,74 8,18LAM USDollar Money($) mmmmm 0,65 1,22 4,74AMA USValueEq mmmmm 14,49 13,16 5,41AMA USValueEq ($) mmmmm 15,42 14,85 10,25

willerfundsmanag. comp.WillerbondOER Europ.Currencies mmmmm 1,81 1,99 2,96WillerequityAAP Japan(Jpy) mmmmm 10,45 3,99 0,61AMA NorthAmerica($) mmmmm 15,39 6,88 4,43AAP SouthEastAsia($) mmmmm 7,78 5,78 5,08

zest asset mgmt sicavOEU ActiveBond mmmmm 3,94 3,17 —FLE GlobalStrategyR mmmmm 4,61 5,31 6,04FLE LowVolatility mmmmm 4,70 3,10 —


1anno 3 anni 5anni


1anno 3 anni 5anni


la top 100 dei fondi esteri elaborazione Ufficio Studi de Il Sole-24Ore su dati

1 Schroder UnitTrusts LtdGB0004433602 (GBR) 402,89 169,58 63,66

2 EquinoxFinance Management (Guernsey) LtdGB00B00CNV73(GGY) -1,28 1,47 25,55

3 PYN Rahastoyhtio OyFI0008803812(FIN) 36,46 21,81 25,34

4 Aberdeen Asset ManagersLimitedGB0000059971(GBR) 41,92 25,54 25,17

5 MonedaS.A.BMG6199T1071(BMU) 17,23 18,04 25,16

6 AIMSAsset ManagementSdb BhdVGG0411N1050(VGB) 26,54 22,49 24,53


8 DNBAsset Management ASNO0008001187(NOR) 3,10 -2,29 24,51

9 Standard Life Investments LimitedGB0002959582(GBR) 25,83 17,74 24,25

10 PTCiptadana Asset ManagementBMG4762X1002(BMU) 11,03 17,16 23,27

11 SemperConstantia Invest GmbHAT0000831425(AUT) 9,33 17,62 23,26

12 SydinvestInvesteringsforeningenDK0010169465(DNK) 3,81 7,43 23,18

13 Skagen ASNO0010140502(NOR) 2,87 7,28 22,71

14 DanskeInvest InvesteringsforeningenDK0010257831(DNK) 9,79 10,60 22,59

15 First StateInvestment Management(UK) LimitedGB0007836132(GBR) 27,72 26,73 22,24

16 Prosperity CapitalManagement LimitedKYG7273W1078(CYM) 4,27 10,40 22,20

17 Investeringsforeningen Sydinvest InternationalASDK0016259260(DNK) 4,70 6,64 22,00

18 First StateInvestments (Hong Kong) LtdIE0008368742(IRL) 4,73 10,46 21,94


20 InvescoFund Managers LtdGB0033027706 (GBR) 3,72 5,20 21,15

21 Allan GrayInternational (Proprietary) LimitedBMG0177P1041(BMU) 12,88 15,24 21,14

22 LansforsakringarFondforvaltning ABSE0000837338(SWE) 17,70 11,64 21,03

23 SemperConstantia Invest GmbHAT0000989090 (AUT) 7,69 15,85 20,81

24 HandelsbankenFonder ABSE0000356107(SWE) 6,00 6,61 20,79

25 BlackRock InvestmentManagement (UK) LimitedGB0005058408(GBR) -1,89 1,78 20,62

26 DNBAsset Management ASNO0010337678(NOR) 7,11 13,81 20,49

27 BIManagement ASDK0010174622(DNK) 2,13 4,45 20,28

28 FrostrowCapital LLPGB0000385517(GBR) 29,58 28,52 20,24

29 OpportunityAsset Management LtdKYG676194551(CYM) -15,46 3,91 20,13

30 Fondsfinans Kapitalforvaltning ASANO0010165764(NOR) 6,77 7,29 20,13

31 Alfred Berg Kapitalforvaltning ASNO0010105489(NOR) 6,72 1,97 19,51

32 DNBAsset Management ASNO0010337819(NOR) -5,18 -2,50 19,28

33 DanskeCapital AS(Norway)NO0010047228(NOR) 10,34 8,09 19,19

34 DanskeInvest InvesteringsforeningenDK0015710602(DNK) 10,13 13,22 19,15

35 Old Mutual Asset Managers (UK) LtdIE0031266244(IRL) 17,24 10,34 19,11

36 BlackRock InvestmentManagement (UK) LimitedGB0006436108(GBR) 24,99 14,40 19,04

37 DanskeInvest Select Investeringsforeningen A/SDK0016057474(DNK) 10,33 12,92 19,00

38 JyskeInvest InvesteringsforeningenDK0010251552(DNK) 1,13 3,64 18,99

39 StateStreet Global Advisors France SAFR0000027112(FRA) 1,10 2,56 18,99

40 Jupiter Asset ManagementLtdGB0000197722(GBR) 25,39 12,59 18,97

41 MarlboroughFund Managers LtdGB00B659XQ05(GBR) 20,43 11,35 18,89


43 StorebrandFondene ASNO0010039688(NOR) 4,26 3,61 18,84

44 JyskeInvest International InvesteringsforeningDK0016261241(DNK) 0,48 3,08 18,83


46 Birla SunLife Asset Management Co (Mauritius) LtdMU0196S00230(MUS) -5,90 1,02 18,76

47 JFIndia Management LimitedMU0129U00005(MUS) -2,58 2,60 18,69

48 JPMorgan Asset Management(UK) LimitedGB0003418950(GBR) 5,43 5,75 18,61

49 Swedbank Robur Fonder ABSE0000602302(SWE) 13,57 9,13 18,60

50 NordeaRahastoyhtio Suomi OyFI0008800438(FIN) 9,98 9,19 18,57

51 ScottishWidows Unit Trust ManagersLimitedGB0031904146(GBR) -0,28 2,57 18,55

52 OpportunityAsset Management LtdKYG676194890(CYM) -33,32 -11,87 18,54

53 Threadneedle InvestmentServices LimitedGB0001531754(GBR) 1,40 3,05 18,47

54 Franklin Templeton Investment ManagementGB0008829292 (GBR) 3,41 8,16 18,42

55 CarlsonFonder ABSE0000432809(SWE) 12,63 12,15 18,42

56 HgCapital Trust PLCGB0003921052(GBR) 13,16 7,72 18,38

57 ODINForvaltning ASNO0010062953(NOR) 16,39 9,84 18,36

58 F&CManagementLimitedGB0000175058(GBR) 21,13 14,86 18,21


60 Henderson GlobalInvestors LtdGB0009065060(GBR) 27,56 12,38 18,19


62 Prosperity CapitalManagement LimitedKYG7724U1067(CYM) 2,93 4,64 18,16

63 JPMorgan Asset Management(UK) LimitedGB0003450359(GBR) -3,83 -1,04 18,15

64 KBCAsset ManagementNVBE0146026415(BEL) -2,18 1,56 18,13

65 LansforsakringarFondforvaltning ABSE0000837239(SWE) 6,30 7,27 18,05

66 ParetoForvaltning ASNO0010110968(NOR) 6,90 4,83 18,05

società/ rendimannualizz*fondo(paese) 3 anni 5anni 10 anni



la top 100 dei fondi esteri

67 Aberdeen Asset Management(London)GB0002945029(GBR) 12,13 12,83 18,03





72 HandelsbankenFonder ABSE0000356065(SWE) 14,32 10,88 17,79

73 Fondita Rahastoyhtio OyFI0008802871(FIN) 10,27 7,25 17,76

74 UBSFund Management (Switzerland) AGCH0004370927 (CHE) -4,22 -0,09 17,70

75 First StateInvestments (Hong Kong) LtdIE0031814852 (IRL) 8,34 9,91 17,65

76 CarlsonFonder ABSE0000432775(SWE) 12,60 9,78 17,64

77 SEB InvestmentManagement ABSE0000433138(SWE) -1,72 0,91 17,64

78 Schroder InvestmentManagement LtdGB0006108418(GBR) 24,44 12,18 17,63



81 Skandia FonderABSE0000810814(SWE) 12,49 9,75 17,53




85 ODINForvaltning ASNO0010062961(NOR) -1,14 -4,91 17,33

86 LanneboFonder ABSE0000740698(SWE) 11,60 10,57 17,32

87 SEBInvest InvesteringsforeningenDK0010260629(DNK) 9,48 4,88 17,31

88 F&CInvestmentBusiness LimitedGB0030738271(GBR) 17,19 2,11 17,24

89 Atlas Kapitalforvaltning ASNO0010241508(NOR) 5,38 2,54 17,20

90 CayenneAsset Management LtdGB0006369119(GBR) 5,68 2,96 17,15

91 SydinvestInvesteringsforeningenDK0010169549(DNK) 7,15 7,16 17,14

92 HolbergFondsforvaltning ASNO0010073224(NOR) -4,30 -1,65 17,14

93 Seligson & CoRahastoyhtio OyjFI0008802004(FIN) 0,16 1,47 17,14

94 NordeaFondene Norge ASNO0010325731(NOR) 11,70 5,38 17,12

95 Swedbank Robur Fonder ABSE0000537706(SWE) 8,20 6,01 17,11

96 NordeaFonder ABSE0000444101(SWE) -1,11 2,20 17,09



99 Lloyd George Investment Management(Bermuda) LtdMU0130S00007(MUS) -7,48 -0,14 17,07

100 SEB InvestmentManagement ABSE0000434201(SWE) 11,06 7,67 17,03

LEGENDALatabellamostra imigliori fondicomuninelmondo perperfomance lordaa10 anni(nonautorizzatialcollocamentoin Italia).SiglePaesi:A=Austria;ANT =Antille;B=Belgio;BHS= Bahamas;BMU=Bermuda; CH =Svizzera;CYM =Isole Cayman;D=Germania;DK=Danimarca;DUB=Dubai;E=Spagna;EST=Estonia; F=Francia;FIN=Finlandia;GGY=Guensey;HUN =ungheria; IOM= IsoladiMan; IRL=Irlanda;JER=Jersey;L =Lussemburgo;MLT=Malta;MUS=Mauritius;NL=Olanda; NOR=Norvegia;P =Portogallo;POL=Polonia;SVN=Slovenia; SWE=Svezia;TTO =TrinidadandTobago;VGB =BritishVirgin Island;UK =Gran Bretagna.* i rendimenti annualizzatisonocalcolatisu quoteespresse ineuro.




fondi pensione aperti elaborazione Ufficio Studi de Il Sole-24Ore in collaborazione con

ALLIANZInsiemeAZ LineaDinamica mmmmm nnnnn 09.04 10,60 27,68 19,66 17,56BB LineaSerena mmmmm nnnnn 09.04 8,18 21,58 15,73 21,16OBRLineaSicura mmmmm nnnnn 09.04 3,57 — 7,15 12,33BO LineaTranquilla mmmmm nnnnn 09.04 5,68 15,78 11,21 20,51L.A. PrevidenzaBB L.A. Previd. Bilanciata mmmmm nnnnn 03.04 3,30 6,36 2,52 2,20OBRL.A. Previd. Garantita mmmmm nnnnn 03.04 1,99 4,95 3,57 11,94BA L.A. Previd. Internaz. mmmmm nnnnn 03.04 3,82 -0,93 0,32 -2,23BOCL.A. Previd. Protetta mmmmm nnnnn 03.04 2,30 11,27 2,74 8,48PrevirasOBRLinea1 Obbligaz. mmmmm nnnnn 09.04 2,31 5,25 4,28 12,38BOCLinea2 Obb. Mista mmmmm nnnnn 09.04 7,84 14,79 11,74 23,97BB Linea3 Bilanciata mmmmm nnnnn 09.04 8,76 20,14 14,61 21,37AZ Linea4 Az. Int. mmmmm nnnnn 09.04 9,76 26,47 17,19 14,18

ALMEGLIO DIALLEANZA TOROAZ AlMeglioAzionario mmmmm nnnnn 08.04 6,54 22,51 11,71 -2,00BBRAlMeglioBilanciato mmmmm nnnnn 08.04 4,84 20,04 7,97 8,78OBRAlMeglioObbligaz. mmmmm nnnnn 08.04 3,72 17,57 2,37 12,07

AMUNDI A. M.SecondaPensioneF.P.A.MO SPDifensiva mmmmm nnnnn 28.03 3,15 6,97 5,04 10,56AZ SPEspansione mmmmm nnnnn 28.03 6,16 8,08 8,64 13,65FLCSPGarantita mmmmm nnnnn 28.03 3,02 11,06 5,59 10,80BO SPProgressiva mmmmm nnnnn 28.03 5,22 9,29 10,13 20,07BO SPSicurezza mmmmm nnnnn 28.03 3,68 8,27 7,19 14,34BB SPSviluppo mmmmm nnnnn 28.03 6,04 8,45 9,96 18,91

ARCAArcaPrevidenzaAZ LineaAltaCrescita mmmmm nnnnn 28.03 — — — —AZ LineaAltaCrescita C mmmmm nnnnn 28.03 — — — —AZ LineaAltaCrescita R mmmmm nnnnn 28.03 — — — —BB LineaCrescita mmmmm nnnnn 28.03 — — — —BB LineaCrescita C mmmmm nnnnn 28.03 — — — —BB LineaCrescita R mmmmm nnnnn 28.03 — — — —MOCLineaGaranzia mmmmm nnnnn 28.03 — 5,81 — —OBCLineaGaranzia C mmmmm nnnnn 28.03 — 5,81 — —MOCLineaGaranzia R mmmmm nnnnn 28.03 — 5,81 — —FLCLineaObiettivo TFR mmmmm nnnnn 28.03 — — — —OBCLineaObiettivo TFR C mmmmm nnnnn 28.03 — — — —FLCLineaObiettivo TFR R mmmmm nnnnn 28.03 — — — —BO LineaRendita mmmmm nnnnn 28.03 — — — —OB LineaRendita C mmmmm nnnnn 28.03 — — — —BO LineaRendita R mmmmm nnnnn 28.03 — — — —

ASSICURAZIONIGENERALIPrevigenGlobalBB Balance mmmmm nnnnn 29.03 — 4,22 — —BORBond mmmmm nnnnn 29.03 — 8,62 — —AZ Capital mmmmm nnnnn 29.03 — 14,64 — —PrevigenValoreBB Genbalance mmmmm nnnnn 29.03 — 4,22 — —OBRGenbond mmmmm nnnnn 29.03 — 9,56 — —BORGenbondPiù mmmmm nnnnn 29.03 — 8,62 — —AZ Gencapital mmmmm nnnnn 29.03 — 14,64 — —

ASSIMOCO VITAF.P.A.Il Melograno

AZ LineaDinamica mmmmm nnnnn 03.04 5,35 8,49 5,88 -1,72BB LineaEquilibrata mmmmm nnnnn 03.04 4,72 7,67 7,06 7,57BO LineaGarantita mmmmm nnnnn 03.04 3,50 5,85 4,60 8,56OB LineaPrudente mmmmm nnnnn 03.04 3,41 11,09 6,72 13,66

AVIVAAvivaBA L.Inv. Azionaria mmmmm nnnnn 28.03 10,80 — 19,09 14,28BB L.Inv. Bilanciata mmmmm nnnnn 28.03 9,35 — 14,54 19,15OB L.Inv.Gar.Rend.Mn.Pres mmmmm nnnnn 28.03 6,64 13,14 9,17 16,32BO L.Inv.Gar.Rest.Capitale mmmmm nnnnn 28.03 7,57 — 10,69 17,50BO L.Inv. Obbligazionaria mmmmm nnnnn 28.03 8,44 — 13,23 19,09AvivaAss. V. UBI Prev.BA C.Aggressivo Cl.C mmmmm nnnnn 28.03 — 11,58 — —BA C.Aggressivo Cl.I mmmmm nnnnn 28.03 — 14,53 — —BOCC.Capital.Sicuro mmmmm nnnnn 28.03 — 3,00 — —BB C.Dinamico Cl.C mmmmm nnnnn 28.03 — 12,28 — —BB C.Dinamico Cl.I mmmmm nnnnn 28.03 — 15,09 — —OB C.Garantito mmmmm nnnnn 28.03 — 6,83 — —BO C.ModeratoCl.C mmmmm nnnnn 28.03 — 14,91 — —BO C.ModeratoCl.I mmmmm nnnnn 28.03 — 13,14 — —BO C.Prudente Cl.C mmmmm nnnnn 28.03 — 12,23 — —BO C.Prudente Cl.I mmmmm nnnnn 28.03 — 12,23 — —

AXAASSICURAZIONIMO CompartoConservativo mmmmm nnnnn 08.04 — -67,08 0,16 2,57BA CompartoDinamico mmmmm nnnnn 08.04 5,56 16,42 6,52 3,75BO CompartoEquilibrato mmmmm nnnnn 08.04 5,19 13,97 7,39 10,47BORCompartoGarantito mmmmm nnnnn 08.04 1,68 6,08 3,23 8,34BO CompartoPrudente mmmmm nnnnn 08.04 6,61 15,38 10,20 15,27

AXAMPS ASSICURAZIONI VITAAxa MPSPrevidenza in AziendaBB LineaCombinata mmmmm nnnnn 29.03 7,10 19,34 18,34 24,43BO LineaEquilibrio mmmmm nnnnn 29.03 5,08 18,21 13,67 21,09BOCLineaSicura mmmmm nnnnn 29.03 1,23 6,77 1,80 5,67BA LineaSviluppo mmmmm nnnnn 29.03 8,66 18,91 21,52 25,63OB LineaTenuta mmmmm nnnnn 29.03 1,91 17,79 7,07 15,82Axa MPSPrevidenza perTeBA LineaCrescita mmmmm nnnnn 29.03 8,20 18,91 19,94 23,53BOCLineaGarantita mmmmm nnnnn 29.03 0,81 6,77 0,70 3,75BB LineaMista mmmmm nnnnn 29.03 6,67 19,34 16,91 22,67OB LineaMoneta mmmmm nnnnn 29.03 1,56 17,79 6,34 14,24BO LineaStabilità mmmmm nnnnn 29.03 4,75 18,21 13,02 20,64

AZIMUT PREVIDENZABA CompartoCrescita mmmmm nnnnn 09.04 6,78 — -0,27 1,24BB CompartoEquilibrato mmmmm nnnnn 09.04 5,65 — 1,37 3,46BORCompartoGarantito mmmmm nnnnn 09.04 4,83 — 5,38 7,23BO CompartoProtetto mmmmm nnnnn 09.04 1,28 — -2,29 0,18

BAP VITA E PREVIDENZABap Pensione2007BO LineaEquilibrio mmmmm nnnnn 31.03 3,80 4,63 -0,30 -0,69BO LineaEquilibrioA mmmmm nnnnn 31.03 4,07 4,63 1,27 2,63BA LineaInvestimento mmmmm nnnnn 31.03 4,68 -5,06 -6,02 -13,61BA LineaInvestimento A mmmmm nnnnn 31.03 5,45 -5,06 -3,80 -9,79OBRLineaTFR mmmmm nnnnn 31.03 1,54 6,39 1,96 3,44OBRLineaTFR A mmmmm nnnnn 31.03 2,05 6,39 3,57 6,30

BCC RISPARMIO & PREVIDENZAAZ Aureocomparto az. mmmmm nnnnn 28.03 — 28,86 — —

categ fondi rating data perf% bench perf% perf%individ collett 1anno 3 anni 3 anni 5anni



fondi pensione aperti

BB Aureocomparto bil. mmmmm nnnnn 28.03 — 22,81 — —MO Aureocomparto gar. mmmmm nnnnn 28.03 — 3,18 — —OB Aureocomp. obbl. mmmmm nnnnn 28.03 — 14,53 — —

BIM VITABB BimVita Bil.Globale mmmmm nnnnn 29.03 — 0,64 — —OB BimVita Bond mmmmm nnnnn 29.03 — 12,43 — —BO BimVita Equilibrio mmmmm nnnnn 29.03 — 8,92 — —AZ BimVita Equity mmmmm nnnnn 29.03 — -6,51 — —

C.R.F. PREVIDENZAOB Comparto1 (obblig.) mmmmm nnnnn 28.03 — 7,46 — —BO Comparto2 (bil./ob.) mmmmm nnnnn 28.03 — 11,30 — —BB Comparto3 (bil.) mmmmm nnnnn 28.03 — 8,93 — —BA Comparto4 (bil./az.) mmmmm nnnnn 28.03 — 7,35 — —BOKComparto5 (garant.) mmmmm nnnnn 28.03 — 7,10 — —

CARIGEBB Dinamico mmmmm nnnnn 28.03 — 16,20 — —BB DinamicoA mmmmm nnnnn 28.03 — 16,20 — —BO Equilibrato mmmmm nnnnn 28.03 — 13,66 — —BO EquilibratoA mmmmm nnnnn 28.03 — 13,66 — —BOCObiettivoTfr mmmmm nnnnn 28.03 — 13,30 — —BOCObiettivoTfr A mmmmm nnnnn 28.03 — 13,30 — —OB Prudente mmmmm nnnnn 28.03 — 8,36 — —OB PrudenteA mmmmm nnnnn 28.03 — 8,36 — —

CREDEMPREVIDENZAAZ Comp. Azionario A mmmmm nnnnn 29.03 — 20,73 — —AZ Comp. Azionario B mmmmm nnnnn 29.03 — 20,73 — —BB Comp. BilanciatoA mmmmm nnnnn 29.03 — 16,19 — —BB Comp. BilanciatoB mmmmm nnnnn 29.03 — 16,19 — —MO Comp. Monetario A mmmmm nnnnn 29.03 — 5,39 — —MO Comp. Monetario B mmmmm nnnnn 29.03 — 5,39 — —BORComp. Obb. Gar.A mmmmm nnnnn 29.03 — 11,20 — —BORComp. Obb. Gar.B mmmmm nnnnn 29.03 — 11,20 — —

CRÉDITAGRICOLE VITAAZ Taro mmmmm nnnnn 31.03 10,28 26,61 18,38 21,79AZ TaroCl.A mmmmm nnnnn 31.03 10,76 26,61 19,92 24,28AZ TaroCl.B mmmmm nnnnn 31.03 11,16 26,61 21,18 —BORTicino mmmmm nnnnn 31.03 5,63 9,01 6,80 10,31BO TicinoCl.A mmmmm nnnnn 31.03 6,05 9,01 8,05 12,47BO TicinoCl.B mmmmm nnnnn 31.03 6,51 9,01 9,51 —BB Trebbia mmmmm nnnnn 31.03 9,66 26,78 18,53 25,23BB Trebbia Cl.A mmmmm nnnnn 31.03 10,14 26,78 20,09 28,02BB Trebbia Cl.B mmmmm nnnnn 31.03 10,34 26,78 20,81 —

CREDITRASVITAUnicreditAZ LineaDinamica mmmmm nnnnn 09.04 9,00 26,47 17,41 15,26BB LineaSerena mmmmm nnnnn 09.04 7,51 20,14 14,30 19,89OBRLineaSicura mmmmm nnnnn 09.04 2,43 5,25 3,81 11,37BOCLineaTranquilla mmmmm nnnnn 09.04 7,12 14,79 11,35 23,21

FONDIARIA- SAIF.P.A.Conto PrevidenzaAZ CompartoAzion. Cl.A mmmmm nnnnn 29.03 — 17,47 — —AZ CompartoAzion. Cl.B mmmmm nnnnn 29.03 — 17,47 — —AZ CompartoAzionario mmmmm nnnnn 29.03 — 17,47 — —BB CompartoBil. Cl.A mmmmm nnnnn 29.03 — 18,47 — —BB CompartoBil. Cl.B mmmmm nnnnn 29.03 — 18,47 — —

BB CompartoBilanciato mmmmm nnnnn 29.03 — 18,47 — —BORCompartoGar. Cl.A mmmmm nnnnn 29.03 — 8,92 — —BORCompartoGar. Cl.B mmmmm nnnnn 29.03 — 8,92 — —BORCompartoGarantito mmmmm nnnnn 29.03 — 8,92 — —OB CompartoObbigaz. mmmmm nnnnn 29.03 — 13,12 — —OB CompartoObbl. Cl.A mmmmm nnnnn 29.03 — 13,12 — —OB CompartoObbl. Cl.B mmmmm nnnnn 29.03 — 13,12 — —FLRCompartoPremium TFR mmmmm nnnnn 29.03 — — — —F.P.A.Fondiaria PrevidenteAZ CompartoAzionario mmmmm nnnnn 29.03 — 17,47 — —BB CompartoBilanciato mmmmm nnnnn 29.03 — 18,47 — —BORCompartoGarantito mmmmm nnnnn 29.03 — 8,92 — —MO CompartoMonetario mmmmm nnnnn 29.03 — 3,84 — —OB CompartoObbigaz. mmmmm nnnnn 29.03 — 13,12 — —F.P.A.SaiOBRLineaPrevi-Bond mmmmm nnnnn 29.03 — 12,43 — —BORLineaPrevi-Capital mmmmm nnnnn 29.03 — 3,85 — —AZ LineaPrevi-Europa mmmmm nnnnn 29.03 — -7,47 — —BORLineaPrevi-Gest mmmmm nnnnn 29.03 — 8,92 — —AZ LineaPrevi-Global mmmmm nnnnn 29.03 — 26,17 — —BB LineaPrevi-Mix mmmmm nnnnn 29.03 — 4,29 — —

HDIASSICURAZIONIF.P.A.Azionedi PrevidenzaAZ LineaDinamica mmmmm nnnnn 15.03 5,53 4,84 5,42 -9,33BO LineaEquilibrata mmmmm nnnnn 15.03 5,89 7,00 9,23 13,08BOCLineaGarantita mmmmm nnnnn 15.03 6,88 3,09 10,73 23,67OB LineaPrudente mmmmm nnnnn 15.03 6,71 2,89 9,29 20,28

INAASSITALIAFondoPensione Aperto INABO Inv. Bilanciato mmmmm nnnnn 28.02 — — — —BOCInv. CapitaleGarant. mmmmm nnnnn 28.02 — — — —BA Inv. Crescita mmmmm nnnnn 28.02 — — — —BO Inv. Protezione mmmmm nnnnn 28.02 — — — —BORInv. Rendim.Garant. mmmmm nnnnn 28.02 — — — —BO Inv. TFR Garant.2015 mmmmm nnnnn 28.02 — — — —BO Inv. TFR Garant.2023 mmmmm nnnnn 28.02 — — — —BO Inv. TFR Garant.2033 mmmmm nnnnn 28.02 — — — —

INTESASANPAOLO PREVIDENZAF.P.A.GiustinianoBA GiustinianoAzionaria mmmmm nnnnn 28.03 — 28,87 — —BO Giustiniano Bilanciata mmmmm nnnnn 28.03 — 22,28 — —OB GiustinianoMonetaria mmmmm nnnnn 28.03 — 4,79 — —OB GiustinianoObbligaz. mmmmm nnnnn 28.03 — 29,49 — —BOCGiustinianoTFR + mmmmm nnnnn 28.03 — 4,30 — —F.P.A.Il Mio DomaniBO LineaBreve Termine mmmmm nnnnn 28.03 — 4,23 — —BO LineaBreve Termine Cl.C mmmmm nnnnn 28.03 — 4,23 — —AZ LineaLungo Termine mmmmm nnnnn 28.03 — — — —FL Linea LungoTermine Cl.C mmmmm nnnnn 28.03 — — — —BB LineaMedio Termine mmmmm nnnnn 28.03 — 1,20 — —FL LineaMedio Termine Cl.C mmmmm nnnnn 28.03 — 1,20 — —BORLineaTFR mmmmm nnnnn 28.03 — 4,30 — —BO LineaTFR Cl.C mmmmm nnnnn 28.03 — 4,30 — —F.P.A.Intesa Mia PrevidenzaBO PianoPrev.Accumulo mmmmm nnnnn 28.03 — 15,12 — —MOCPianoPrev.Capitale mmmmm nnnnn 28.03 — 7,15 — —BO PianoPrev.Crescita mmmmm nnnnn 28.03 — 12,18 — —BA PianoPrev.Dinamico mmmmm nnnnn 28.03 — 16,70 — —OB PianoPrev.Reddito mmmmm nnnnn 28.03 — 9,27 — —





F.P.A.PrevidSystemBO AccumulazioneBilan. mmmmm nnnnn 28.03 — 20,38 — —BO CrescitaDinamica mmmmm nnnnn 28.03 — 13,10 — —BO CrescitaPrudente mmmmm nnnnn 28.03 — 10,41 — —BA RivalutazioneAz. mmmmm nnnnn 28.03 — 26,50 — —BORTFR + mmmmm nnnnn 28.03 — 4,30 — —

INTESASANPAOLO VITAF.P.A.Sanpaolo PrevidenzaBA LineaBil.Azionaria mmmmm nnnnn 29.03 — 26,65 — —BB LineaBilanciata mmmmm nnnnn 29.03 — 22,42 — —MO LineaMonetaria mmmmm nnnnn 29.03 — 3,84 — —OB LineaObbligazionaria mmmmm nnnnn 29.03 — 11,86 — —BO LineaProtetta mmmmm nnnnn 29.03 — 8,35 — —F.P.A.Sanpaolo Previdenza AziendeBA LineaBil.Azionaria mmmmm nnnnn 29.03 — 26,65 — —BO LineaBil.Obbligaz. mmmmm nnnnn 29.03 — 18,20 — —BB LineaBilanciata mmmmm nnnnn 29.03 — 22,42 — —BORLineaGarantita mmmmm nnnnn 29.03 — 8,51 — —OB LineaObbligazionaria mmmmm nnnnn 29.03 — 11,86 — —

ITAS VITAF.P.A.PensPlan PlurifondsAZ ActivITAS mmmmm nnnnn 31.03 6,63 17,30 8,16 10,04BO AequITAS mmmmm nnnnn 31.03 6,55 19,13 13,11 26,37BOCSecurITAS mmmmm nnnnn 31.03 3,19 2,67 5,55 14,85BO SerenITAS mmmmm nnnnn 31.03 5,52 11,41 10,74 21,37BB SolidITAS mmmmm nnnnn 31.03 6,36 15,33 9,93 14,86AZ SummITAS mmmmm nnnnn 31.03 6,73 20,57 7,19 10,11

MILANO ASS.OBRMilanoBond mmmmm nnnnn 29.03 — 12,43 — —OBRMilanoBond Cl.A mmmmm nnnnn 29.03 — 12,43 — —OBRMilanoBond Cl.B mmmmm nnnnn 29.03 — 12,43 — —AZ MilanoEuropa mmmmm nnnnn 29.03 — -7,47 — —AZ MilanoEuropa Cl.A mmmmm nnnnn 29.03 — -7,47 — —AZ MilanoEuropa Cl.B mmmmm nnnnn 29.03 — -7,47 — —BORMilanoGest mmmmm nnnnn 29.03 — 8,92 — —BORMilanoGest. Cl.A mmmmm nnnnn 29.03 — 8,92 — —BORMilanoGest. Cl.B mmmmm nnnnn 29.03 — 8,92 — —AZ MilanoGlobal mmmmm nnnnn 29.03 — 26,17 — —AZ MilanoGlobal Cl.A mmmmm nnnnn 29.03 — 26,17 — —AZ MilanoGlobal Cl.B mmmmm nnnnn 29.03 — 26,17 — —BB MilanoMix mmmmm nnnnn 29.03 — 4,29 — —BB MilanoMix Cl.A mmmmm nnnnn 29.03 — 4,29 — —BB MilanoMix Cl.B mmmmm nnnnn 29.03 — 4,29 — —FL MilanoPremium TFR mmmmm nnnnn 29.03 — — — —

NATIONALE SUISSEVITABO Previsuisse-C.Crescita mmmmm nnnnn 28.03 — 19,24 — —BB Previsuisse-C.Dinamica mmmmm nnnnn 28.03 — 25,60 — —OBCPrevisuisse-C.Garanz. mmmmm nnnnn 28.03 — 12,88 — —

PENSPLANINVESTPensPlanProfi F.P.A.BB CompartoLinea A mmmmm nnnnn 31.03 7,15 20,74 9,69 22,24BO CompartoLinea B mmmmm nnnnn 31.03 5,79 11,53 10,63 22,09OB CompartoLinea C mmmmm nnnnn 31.03 1,76 6,50 4,47 10,60RaiffeisenF.P.A.BO LineaActivity mmmmm nnnnn 31.03 7,77 10,07 10,61 20,11BA LineaDynamic mmmmm nnnnn 31.03 9,76 6,09 7,19 9,38OB LineaSafe mmmmm nnnnn 31.03 5,96 12,56 9,36 20,89

PIONEER INVESTMENT MGMTUniCreditPrevidenzaAZ LineaAzionaria mmmmm nnnnn 28.03 — 23,86 — —BB LineaBilanciata mmmmm nnnnn 28.03 — 20,56 — —BA LineaDT2035+ mmmmm nnnnn 28.03 — 23,48 — —BO LineaDT2015 mmmmm nnnnn 28.03 — 17,12 — —BO LineaDT2020 mmmmm nnnnn 28.03 — 15,27 — —BB LineaDT2025 mmmmm nnnnn 28.03 — 21,36 — —BB LineaDT2030 mmmmm nnnnn 28.03 — 23,48 — —MO LineaGarantita mmmmm nnnnn 28.03 — 5,81 — —BO LineaObb.Breve Periodo mmmmm nnnnn 28.03 — 15,00 — —OB LineaObblig. Reale mmmmm nnnnn 28.03 — 10,68 — —BO LineaPrudente mmmmm nnnnn 28.03 — 15,93 — —

POPOLARE VITAOBRPopolareBond mmmmm nnnnn 29.03 — 12,43 — —OBRPopolareBond Cl.A mmmmm nnnnn 29.03 — 12,43 — —OBRPopolareBond Cl.B mmmmm nnnnn — — — — —BORPopolareGest mmmmm nnnnn 29.03 — 8,92 — —BORPopolareGest Cl.A mmmmm nnnnn 29.03 — 8,92 — —BORPopolareGest Cl.B mmmmm nnnnn 29.03 — 8,92 — —BB PopolareMix mmmmm nnnnn 29.03 — 4,29 — —BB PopolareMix Cl.A mmmmm nnnnn 29.03 — 4,29 — —BB PopolareMix Cl.B mmmmm nnnnn 31.10 — — — —

REALE MUTUA ASSICURAZIONIBB Teseo-L.Bilanc.Etica mmmmm nnnnn 31.03 7,00 5,54 7,34 7,47MORTeseo-L.Garan. Etica mmmmm nnnnn 31.03 2,43 5,80 3,75 9,72OB Teseo-L.Prud. Etica mmmmm nnnnn 31.03 5,63 13,85 9,94 20,92AZ Teseo-L.Svil.Etica mmmmm nnnnn 31.03 7,97 13,04 2,28 -12,39

TORO PREVID. DI ALLEANZA TOROAZ LineaAzionaria mmmmm nnnnn 29.03 — 17,99 — —AZ LineaAzionaria A mmmmm nnnnn 29.03 — 17,99 — —AZ LineaAzionaria B mmmmm nnnnn 29.03 — 17,99 — —AZ LineaAzionaria C mmmmm nnnnn 29.03 — 17,99 — —BBRLineaBil. Garanzia mmmmm nnnnn 29.03 — 18,80 — —BBRLineaBil. Garanzia A mmmmm nnnnn 29.03 — 18,80 — —BBRLineaBil. Garanzia B mmmmm nnnnn 29.03 — 18,80 — —BBRLineaBil. Garanzia C mmmmm nnnnn 29.03 — 18,80 — —OBRLineaObbl. Garanzia mmmmm nnnnn 29.03 — 16,03 — —OBRLineaOb. Garanzia A mmmmm nnnnn 29.03 — 16,03 — —OBRLineaOb. Garanzia B mmmmm nnnnn 29.03 — 16,03 — —OBRLineaOb. Garanzia C mmmmm nnnnn 29.03 — 16,03 — —

UNIPOL ASSICURAZIONIUnipolInsiemeBOCLineaCrescita mmmmm nnnnn 03.04 6,52 18,76 14,03 25,34BORLineaProtez. Etica mmmmm nnnnn 03.04 3,60 8,62 6,58 17,35BB LineaSviluppo mmmmm nnnnn 03.04 8,99 16,80 14,36 18,78AZ LineaValore mmmmm nnnnn 03.04 10,17 18,58 14,98 12,51UnipolPrevidenzaOBRLineaA:Obbl.garanz. mmmmm nnnnn 02.04 6,18 13,78 11,92 30,38BORLineaB:Ob.mista gar mmmmm nnnnn 02.04 6,61 13,16 10,44 22,93BO LineaC:Obblig. mista mmmmm nnnnn 02.04 7,02 16,11 12,26 21,62BB LineaD:Bilanciata mmmmm nnnnn 02.04 8,16 17,05 12,33 12,81

VITTORIAFORMULA LAVOROAZ PrevidenzaCapital. mmmmm nnnnn 29.03 — 19,49 — —BB PrevidenzaEquilibrata mmmmm nnnnn 29.03 — 16,12 — —BORPrevidenzaGarantita mmmmm nnnnn 29.03 — 13,60 — —





Note:C: con garanzia di capitale.R: con garanzia di rendimento.K: con garanzia di capitale e rendimento.

ZEDOMNIFUNDAZ Azionaria mmmmm nnnnn 28.03 — 13,95 — —BO Bilanciata30 mmmmm nnnnn 28.03 — 14,93 — —BA Bilanciata65 mmmmm nnnnn 28.03 — 13,58 — —OBRGarantita mmmmm nnnnn 28.03 — 9,97 — —OB Obbligazionaria mmmmm nnnnn 28.03 — 14,57 — —

ZURICH CONTRIBUTIONOB LineaConservativa mmmmm nnnnn 28.03 — 14,57 — —BA LineaDinamica mmmmm nnnnn 28.03 — 13,58 — —OBRLineaGarantita mmmmm nnnnn 28.03 — 9,97 — —




fondi chiusi immobiliari a cura di

LEGENDA(1)Ultimo Navannualedisponibile (30/06/2012), rettificatopereventualidividendi erimborsidistribuiti.(2) rapportotraprezzodimercato eNav.(3) Canoni/Valore immobili:ècalcolato rapportandol'ultimodato diffusosuicanoni annuie il valoredegli immobiliimplicitoneiprezzi diborsa. (4) Div.12m/prezzo: calcolatorapportandoildivideno cumulatonegliultimi 12mesi rispettoall'ultimoprezzodisponibile.Eventualidistribuzionidi capitalenon sonostatecomputate,se debitamentecomunicate edettagliate.Diversi fondihanno distribuitoplusvalenzemonetizzatederivanti dallacessionedi immobiliealcunihanno posto inpagamento proventi riconducibiliadeserciziprecedenti.(5)Controvalore settimanale:sommadel controvalorescambiatonelleultimecinquesedutedi borsa.(6)Rendimento annuodacollocamento (prezzo): tasso annualizzato, tieneconto deidividendi corrisposticonriferimentoalla datadi calcolodella tabellaconsiderandocome valorediuscita l'ultimoprezzodimercato.(7)Rendimento annuodacollocamento (Nav): tassoannualizzato, tiene contodei dividendicorrisposticon riferimentoalladata dicalcolo dellatabellaconsiderandocome valorediuscita l’ultimoNavrettificato.(8)Rendimento annuo:ècalcolato ipotizzandol’ultimoprezzodi borsacomevaloredi entratae l’ultimoNAVrettificatocome quello diuscitaalla datadiscadenzamassima,non considerandonelcomputoalcunprovento distribuito (dividendierimborsi).I rendimentiaunasettimanae2012: scostamentidei prezzidi borsatenutoconto dieventualidividendi distribuiti.

nomefondoe scadenza prezzo nav sconto canoni/ div12m/ controv rendim rendim rendim data rendim(1) (2) valore prezzo settim annuo annuo 1sett 2013 scadenza annuo

imm. (3) (4) euro(5) prz(6) nav (7) massima (8)

Atlantic1 (12/2013) 247,20 539,482 -54,2 +19,0 +8,6 361027 -1,61 +7,14 +1,85 +50,92 12-2016 +22,9Atlantic2 (12/2015) 167,00 359,986 -53,6 +21,5 +5,8 14014 +7,62 +12,12 -4,57 +13,68 12-2015 +32,1EstenseG.D. (12/2013) 1955,00 2656,047 -26,4 +9,0 +6,8 23040 +2,02 +4,51 +0,77 +26,06 12-2016 +8,4Europa Imm. 1(12/2014) 450,00 1537,136 -70,7 +15,9 — 15355 -14,80 -3,16 -1,73 -3,85 12-2017 +29,2FondoAlpha(06/2015) 994,50 3701,013 -73,1 +45,0 — 138772 +1,42 +8,81 -0,55 -6,00 12-2019 +21,3FondoBeta(02/2015) 340,00 548,297 -38,0 +26,7 +3,1 50503 +7,89 +9,85 +1,49 +10,25 02-2015 +28,9FondoDelta(12/2014) 29,80 96,941 -69,3 +29,2 — 125595 -17,53 -0,49 -0,33 -1,97 12-2017 +27,9Imm. dinamico (12/2020) 63,10 239,488 -73,7 +14,1 — 75470 -13,63 +0,57 +0,64 +5,34 12-2020 +18,6Immobilium 2001(12/2017) 1532,00 4249,205 -63,9 +12,9 — 16500 -3,57 +2,72 +4,72 +0,13 12-2020 +13,9InvestRealSec. (12/2013) 1047,00 2226,369 -53,0 +10,5 — 20417 -6,37 +0,61 +2,35 +6,62 12-2016 +22,1Investietico(12/2015) 1449,00 2533,507 -42,8 +11,3 +10,4 134757 +0,96 +4,43 +3,35 +17,70 12-2018 +10,1Med.RE -A 3,72 5,732 -35,0 +20,9 — 31367 -4,03 +1,93 +14,23 +18,22 12-2027 +2,9Med.RE -B 3,18 4,449 -28,6 +20,9 +6,1 123754 -1,95 +2,09 +2,45 -11,68 12-2027 +2,3Obelisco(12/2015) 684,00 1913,573 -64,3 +10,7 — 13540 -14,23 -1,83 +0,59 +8,40 12-2018 +19,4Olinda(12/2014) 106,00 465,087 -77,2 +23,3 — 159051 -3,92 +6,99 -0,93 -2,66 12-2014 +133,1Polis (12/2015) 668,00 2011,111 -66,8 +12,4 — 152278 -3,37 +3,08 +1,60 +10,41 12-2018 +20,9PortfolioImm. (12/2013) 977,50 1537,038 -36,4 +12,2 — 68222 -1,13 +1,03 -0,26 +21,98 12-2016 +12,7RE Europa (12/2016) 766,00 2116,420 -63,8 +12,4 +9,5 135273 -5,48 +1,20 -1,16 +22,01 12-2022 +10,9RE Italia (12/2016) 1005,00 2306,496 -56,4 +11,3 +12,9 82585 +0,07 +4,34 -1,28 +23,55 12-2019 +13,0Risp. Imm.1 Energia (12/2018) 6430,00 6753,262 -4,8 +11,5 — 31850 -3,64 -3,01 +2,06 -6,13 12-2021 +0,6Securfondo (12/2014) 1178,00 2202,597 -46,5 +8,8 +3,7 27389 +2,65 +5,16 -1,75 +13,53 12-2017 +14,0Tecla(12/2014) 154,50 355,808 -56,6 +22,4 +17,4 13471 +9,31 +13,62 +3,00 -2,83 12-2014 +61,2UnicreditoImm.1 (12/2014) 1434,00 3012,966 -52,4 +18,0 — 373344 -0,43 +3,97 -0,97 +7,09 12-2020 +9,9ValoreImm. glob. (12/2014) 1490,00 3940,415 -62,2 +20,0 — 86527 -0,83 +2,88 -2,10 -12,35 12-2022 +10,4(Noriskprestaoccasionalmenteeautonomamenteattivitàdi consulenzaafavoredegliemittentidegli strumenti finanziarioggettodi analisi)


EXCHANGE TRADED FUND a cura di

AZIONARIOemergenteSpdr S&PEmerging MarketsDividend Etf (IE00B6YX5B26)[FisicaCompleta] mmmmm 0,65 0,80 190.749 -Lyxor EtfMsciAc Asia-Pacific ExJapan (FR0010312124)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,65 0,34 190.381 12,49Lyxor EtfMsci Indonesia (FR0011067511)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,55 1,32 189.915 14,03DbX-Trackers MsciKorea TrnIndex Etf(LU0292100046)[SinteticaFunded:con Swap(100%)(collaterale119,62%)] mmmmm 0,65 0,42 185.900 -1,51DbX-Trackers S&PCnx Nifty Etf(LU0292109690)[SinteticaFunded:con Swap(100%)(collaterale119,68%)] mmmmm 0,85 0,70 172.011 1,72DbX-Trackers MsciEm Latam TrnEtf (LU0292108619)[SinteticaFunded:con Swap(100%)(collaterale117,71%)] mmmmm 0,65 0,49 170.758 0,43Amundi EtfMsciEmerging Markets (A) (FR0010959676)[SinteticaUnfunded:basketsostitutivo (101%)Swap (-1%)] mmmmm 0,45 0,60 170.293 3,69Ubs-EtfMsci Pacific (ExJapan) A (LU0446734526)[FisicaCompleta:prestito titoli(21%) e collaterale(104,8%)] mmmmm 0,46 0,30 170.169 24,08IsharesMsciEastern Europe (IE00B0M63953)[FisicaaCampione:prestito titoli(8,74%) ecollaterale (102,5%-112%)] mmmmm 0,74 0,40 163.003 1,22CsEtf (Ie)MsciRussia Adr/Gdr (IE00B5V87390)[FisicaCompleta] mmmmm 0,65 1,96 158.709 -6,03Lyxor EtfThailand (Set 50 NetTr) (FR0011067529)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,45 1,24 139.700 32,12DbX-Trackers MsciTaiwan TrnIndex Etf(LU0292109187)[SinteticaFunded:con Swap(100%)(collaterale119,62%)] mmmmm 0,65 0,48 135.384 4,24CsEtf (Ie)MsciMexico Capped (IE00B5WHFQ43)[FisicaCompleta] mmmmm 0,65 1,87 135.052 24,76UBS-ETFMSCI Emerging MarketsI (LU0480133098)[FisicaaCampione:prestito titoli(4%) ecollaterale (106,2%)] mmmmm 0,45 0,30 131.980 -Lyxor EtfAustralia (LU0496786905)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,40 1,33 124.757 25,66Lyxor EtfPan Africa (FR0010636464)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,85 2,13 123.477 -10,37DbX-Trackers S&P/Asx 200 Etf(LU0328474803)[SinteticaFunded:con Swap(100%)(collaterale107,46%)] mmmmm 0,50 0,83 110.530 25,85CsEtf (Ie)Csi 300 (IE00B5VG7J94)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,50 1,17 107.355 -1,21IsharesS&PEmerging MktsInfrastructure (IE00B2NPL135)[FisicaCompleta] mmmmm 0,74 0,51 95.843 15,80Amundi EtfMsciPacific Ex Japan(FR0010713669)[SinteticaUnfunded:basketsostitutivo (99,84%)Swap (0,16%)] mmmmm 0,45 0,51 95.310 23,74Lyxor EtfMsciEm Latin America(FR0010410266)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,65 0,41 94.814 0,47Spdr MsciEmerging MarketsSmall Cap Etf(IE00B48X4842)[FisicaaCampione] mmmmm 0,65 0,70 90.534 -Lyxor EtfMsciTaiwan (FR0010444786)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,65 0,59 85.955 4,69CsEtf (Lux)MsciEmerging Markets(LU0254097446)[FisicaaCampione:prestito titoli(2.8%)e collaterale (105%)] mmmmm 0,69 0,28 85.408 2,89IsharesMsciEmerging Markets(Acc) (IE00B4L5YC18)[FisicaaCampione:prestito titoli(0,68%) ecollaterale (102,5%-112%)] mmmmm 0,75 0,34 84.237 3,53IsharesFtse Epra/NareitAsia Property(IE00B1FZS244)[FisicaCompleta:prestito titoli(7,92%) e collaterale(102,5%-112%)] mmmmm 0,59 0,98 76.837 33,85Spdr MsciEm LatinAmerica Etf(IE00B454X613)[FisicaaCampione] mmmmm 0,65 0,85 66.025 -UBS-ETFMSCI Emerging MarketsA (LU0480132876)[FisicaaCampione:prestito titoli(4%) ecollaterale (106,2%)] mmmmm 0,70 0,28 64.121 -DbX-Trackers MsciPacific Ex Japan Etf(LU0322252338)[SinteticaFunded:con Swap(100%)(collaterale119,59%)] mmmmm 0,45 0,60 59.440 23,64CsEtf (Ie)MsciKorea (IE00B5W4TY14)[FisicaCompleta] mmmmm 0,65 1,38 57.773 -1,10Amundi EtfMsci India (FR0010713727)[SinteticaUnfunded:basketsostitutivo (100,28%)Swap (-0,28%)] mmmmm 0,80 0,50 55.159 2,40Rbs MarketAccess Dj Turkey Titans 20 (LU0269999362)[SinteticaUnfunded:basketsostitutivo (0%)Swap (100%)(collaterale100,18%)] mmmmm 0,60 1,14 52.044 43,30Amundi EtfMsciEastern Europe ExRussia (FR0010717074)[SinteticaUnfunded:basketsostitutivo (99,79%) Swap(0,21%)] mmmmm 0,45 0,91 49.085 8,51CsEtf (Ie)MsciAustralia (IE00B5V70487) mmmmm 0,50 0,30 48.939 27,48CsEtf (Ie)MsciBrazil (IE00B59L7C92)[FisicaCompleta] mmmmm 0,65 1,97 45.735 -5,96DbX-Trackers Hsi Short Daily Etf(2C) (LU0429790313)[SinteticaFunded:con Swap(100%)(collaterale119,93%)] mmmmm 0,75 1,04 44.003 -16,45Lyxor EtfFtse Epra/Nareit Asia Ex-Japan (FR0010833541)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,65 0,47 39.699 31,78CsEtf (Ie)MsciIndia (IE00B564MX78)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,75 2,39 37.401 2,30DbX-Trackers MsciEm Emea TrnIndex Etf(LU0292109005)[SinteticaFunded:con Swap(100%)(collaterale114,94%)] mmmmm 0,65 0,76 36.136 3,68Amundi EtfMsciEm Latin America(FR0011020973)[SinteticaUnfunded:basketsostitutivo (100,24%) Swap(-0,24%)] mmmmm 0,45 0,42 35.294 0,66DbX-Trackers MsciChile Trn IndexEtf(LU0592217797)[SinteticaFunded:con Swap(100%)(collaterale119,3%)] mmmmm 0,65 0,99 34.277 -5,20DbX-Trackers S&PSelect Frontier Etf(LU0328476410)[SinteticaFunded:con Swap(100%)(collaterale114,57%)] mmmmm 0,95 0,80 33.852 6,00

strumento rating comm spread ctv perf1-5 tot% bid/ask medio anno

stelle anno % 30ggÀ %


EXCHANGE TRADED FUND

Lyxor EtfMsciAc Asia ExJapan (FR0010652867)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,50 1,63 33.407 7,37europaLyxor EtfFtse Athex 20 (FR0010405431)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,45 1,23 187.175 5,63Etfx Dax2X Long Fund (IE00B4QNHH68)[SinteticaUnfunded:basketsostitutivo (108%) Swap(100%)] mmmmm 0,40 0,46 177.314 30,07Lyxor EtfStoxx Europe 600Insurance (FR0010344903)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,50 173.569 32,80Spdr S&PEuro Dividend Aristocrats Etf(IE00B5M1WJ87)[FisicaCompleta] mmmmm 0,30 0,39 169.288 -DbX-Trackers Stoxx 600Basic Resources (LU0292100806)[SinteticaFunded:con Swap(100%)(collaterale110,68%)] mmmmm 0,30 0,15 169.064 -6,57Ubs-EtfEuro Stoxx 50 I (LU0155367302)[FisicaCompleta:prestito titoli(13%) ecollaterale (106,1%)] mmmmm 0,16 0,25 160.134 19,11IsharesFtse/Epra European PropertyFund (IE00B0M63284)[FisicaCompleta:prestito titoli(13,97%) ecollaterale (102,5%-112%)] mmmmm 0,40 0,19 157.160 20,94Amundi EtfMsciEmu (FR0010655688)[SinteticaUnfunded:basketsostitutivo (100,02%)Swap (-0,02%)] mmmmm 0,25 0,51 154.610 19,31Amundi EtfCac 40(FR0007080973)[FisicaCompleta:prestito titoli(max 25%)e collaterale] mmmmm 0,25 0,16 143.721 21,09Lyxor EtfMsciEmu (FR0007085501)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,35 0,92 142.265 19,39DbX-Trackers Stoxx600 Banks Short Daily (LU0322249037)[SinteticaFunded:con Swap(100%)(collaterale119,12%)] mmmmm 0,50 1,15 129.373 -26,84Lyxor EtfFtse 100 (FR0010438127)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,13 124.274 14,08Amundi EtfMsciNordic (FR0010655738)[SinteticaUnfunded:basketsostitutivo (100,03%)Swap (-0,03%)] mmmmm 0,25 0,12 120.069 21,33DbX-Trackers Stoxx 600Telecommunicat (LU0292104030)[SinteticaFunded:con Swap(100%)(collaterale109,35%)] mmmmm 0,30 0,84 119.452 6,64Ubs-EtfMsci Emu I (LU0446735093)[FisicaCompleta:prestito titoli(16%) ecollaterale (105,1%)] mmmmm 0,24 0,29 117.261 19,66Lyxor EtfStx Europe Select Dividend 30(FR0010378604)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,19 117.134 9,70DbX-Trackers Stoxx 600Food & Beverage (LU0292105359)[SinteticaFunded:con Swap(100%)(collaterale107,72%)] mmmmm 0,30 0,71 113.335 29,34Ubs-EtfMsci Europe A (LU0446734104)[FisicaCompleta:prestito titoli(9%) e collaterale(105%)] mmmmm 0,36 0,24 111.238 18,98Lyxor EtfStx Eu 600 Travel& Leisure (FR0010344838)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,23 104.630 33,00Amundi EtfShort DowJones Euro Stoxx50 (FR0010757781)[SinteticaUnfunded:basketsostitutivo (100,19%) Swap(-0,19%)] mmmmm 0,30 0,21 103.213 -20,38Ubs-EtfMsci Emu ValueA (LU0446734369)[FisicaCompleta:prestito titoli(15%) ecollaterale (105,7%)] mmmmm 0,41 0,23 103.173 17,36IsharesEuro StoxxSmall (IE00B02KXM00)[FisicaCompleta:prestito titoli(19,93%) ecollaterale (102,5%-112%)] mmmmm 0,40 0,48 96.785 16,26DbX-Trackers Ftse 100 Short Daily Etf(LU0328473581)[SinteticaFunded:con Swap(100%)(collaterale119,28%)] mmmmm 0,50 0,17 96.391 -19,63Amundi EtfLeveragedMsci Europe Daily (FR0010756080)[SinteticaUnfunded:basketsostitutivo (99,74%)Swap (0,26%)] mmmmm 0,35 0,94 96.038 37,77Amundi EtfMsci Italy (FR0010655720)[SinteticaUnfunded:basketsostitutivo (99,97%) Swap(0,03%)] mmmmm 0,25 0,46 86.735 10,51IsharesEurostoxxTotal MktValue Large (IE00B0M62T89)[FisicaCompleta:prestito titoli(4,42%) e collaterale (102,5%-112%)] mmmmm 0,40 0,53 85.975 15,16Amundi EtfS&PEurope 350 Fund(IE0031091428)[FisicaCompleta:prestito titoli(max 25%)e collaterale] mmmmm 0,35 0,90 85.344 19,52Lyxor EtfStoxx Europe 600Technology (FR0010344796)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,28 79.881 19,34DbX-Trackers Cac 40Short Daily Etf (LU0322251280)[SinteticaUnfunded:basketsostitutivo (96,21%)Swap (3,79%)] mmmmm 0,40 0,12 76.046 -21,10Lyxor EtfStx Eu 600 IndusGood&Services (FR0010344887)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,17 69.860 22,15Amundi EtfMsciEurope (FR0010655696)[SinteticaUnfunded:basketsostitutivo (100,06%)Swap (-0,06%)] mmmmm 0,28 0,63 68.484 18,97Amundi EtfMsciEurope Banks (FR0010688176)[SinteticaUnfunded:basketsostitutivo (99,89%) Swap(0,11%)] mmmmm 0,25 0,58 66.854 28,92Lyxor EtfMsciEmu Small Cap (FR0010168773)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,40 0,33 66.153 20,59IsharesEurostoxxTotal MktGrowth Large (IE00B0M62V02)[FisicaCompleta:prestito titoli(3,77%) ecollaterale (102,5%-112%)] mmmmm 0,40 0,20 65.524 27,16IsharesMsciEurope (Acc) (IE00B4K48X80)[FisicaCompleta:prestito titoli(0,70%)e collaterale (102,5%-112%)] mmmmm 0,35 0,39 63.005 19,17Lyxor EtfStx Eu 600 Personal&Household(FR0010344978)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,18 60.565 21,58DbX-Trackers Euro Stoxx50 Etf(1D) (LU0274211217)[SinteticaUnfunded:basketsostitutivo (101%)Swap (-1%)] mmmmm 0,00 0,10 59.299 19,39IsharesEuro StoxxMid (IE00B02KXL92)[FisicaCompleta:prestito titoli(13,62%) ecollaterale (102,5%-112%)] mmmmm 0,40 0,47 58.316 19,25DbX-Trackers Stoxx 600Health Sht Daily (LU0322249466)[SinteticaFunded:con Swap(100%)(collaterale119,27%)] mmmmm 0,50 0,76 57.306 -25,07IsharesFtse Uk DividendPlus (IE00B0M63060)[FisicaCompleta:prestito titoli(4,84) e collaterale(102,5%-112%)] mmmmm 0,40 0,92 53.012 18,74Lyxor EtfStoxx Europe 600Retail (FR0010344986)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,21 48.364 21,65





Lyxor EtfStx Eu 600 FinancialServices (FR0010345363)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,25 47.958 27,94Lyxor EtfStx Eu 600 Construct&Materials(FR0010345504)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,28 45.739 19,34Spdr MsciEurope Utilities Etf (FR0000001646)[FisicaCompleta:prestito titoli(13,27%) ecollaterale (106%)] mmmmm 0,30 0,49 45.625 10,18Amundi EtfMsciEurope Healthcare (FR0010688192)[SinteticaUnfunded:basketsostitutivo (99,85%) Swap(0,15%)] mmmmm 0,25 0,71 43.271 32,03Ubs-EtfMsci Europe I (LU0446734286)[FisicaCompleta:prestito titoli(9%) e collaterale(105%)] mmmmm 0,24 0,24 41.934 19,25Lyxor EtfStoxx Eu 600Automobiles&Parts (FR0010344630)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,34 41.155 14,46IsharesStoxxEurope Select Dividend 30 (DE0002635299)[FisicaCompleta] mmmmm 0,32 0,62 39.165 9,58Spdr MsciEurope Financials Etf (FR0000001703)[FisicaCompleta:prestito titoli(12,77%) ecollaterale (106%)] mmmmm 0,30 0,51 37.398 28,18UBS ETFsplc - FTSE 100SF (GBP) A-acc(IE00B3X0KQ36)[SinteticaUnfunded:basketsostitutivo (80%)Swap (20%)(collaterale105%)] mmmmm 0,47 0,50 35.669 -Lyxor EtfStoxx Europe 600Media (FR0010344929)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,27 32.492 29,64CsEtf (Ie)MsciEurope (IE00B53QFR17)[FisicaCompleta:prestito titoli(6.90%) e collaterale (112.20%)] mmmmm 0,33 0,25 30.764 18,91CsEtf (Ie)MsciEmu (IE00B53QG562)[FisicaCompleta:prestito titoli(14.80%) ecollaterale (112.00%)] mmmmm 0,33 0,21 30.749 19,39giapponeRbs MarketAcc TopixEur Hedged (LU0562666403)[SinteticaUnfunded:basketsostitutivo (0%)Swap (100%)(collaterale96,73%)] mmmmm 0,50 0,85 177.965 39,26DbxMsciJapan TrnIndex (LU0659580079)[SinteticaFunded:con Swap(100%)(collaterale109,43%)] mmmmm 0,60 0,21 72.461 -CsEtf (Ie)MsciJapan Large Cap(B) (IE00B3VWM213)[FisicaCompleta] mmmmm 0,48 0,79 56.562 17,62IsharesMsciJapan (Acc) (IE00B4L5YX21)[FisicaaCampione] mmmmm 0,59 0,28 43.362 17,20globaleUbs-EtfMsci WorldA (LU0340285161)[FisicaaCampione:prestito titoli(13%) ecollaterale (103,9%)] mmmmm 0,46 0,25 192.439 17,00Lyxor EtfMsciWorld HealthCare (LU0533033238)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,45 0,45 139.975 29,36Amundi EtfMsciWorld (FR0010756098)[SinteticaUnfunded:basketsostitutivo (100,2%)Swap (-0,2%)] mmmmm 0,38 0,79 124.184 17,24IsharesMsciWorld (Acc)(IE00B4L5Y983)[FisicaaCampione] mmmmm 0,50 0,26 122.760 17,09Rbs MarketAccess Nyse Arca Gold Bugs (LU0259322260)[SinteticaUnfunded:basketsostitutivo (0%)Swap (100%)(collaterale99,64%)] mmmmm 0,70 0,88 111.284 -25,05Etfx DaxglobalGold Mining Fund(IE00B3CNHG25)[SinteticaUnfunded:basketsostitutivo (108%) Swap(100%)] mmmmm 0,65 2,96 105.732 -25,48Lyxor EtfDj GlobalTitans 50 (FR0007075494)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,40 1,00 68.525 14,04Lyxor EtfMsciWorld RealEstate (FR0010833574)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,45 0,53 66.158 30,75Lyxor EtfWorldWater (FR0010527275)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,60 0,43 56.107 20,43IsharesS&PTimber & Forestry (IE00B27YCF74)[FisicaCompleta] mmmmm 0,65 0,44 54.798 26,99IsharesS&PGlobal Water (IE00B1TXK627)[FisicaCompleta:prestito titoli(8,09%) ecollaterale (102,5%-112%)] mmmmm 0,65 1,74 51.985 20,98DbX-Trackers MsciWorld Cons Stap Trn (LU0540980066)[SinteticaFunded:con Swap(100%)(collaterale118,9%)] mmmmm 0,45 0,64 51.201 23,06Amundi EtfMsciWorld Energy(FR0010791145)[SinteticaUnfunded:basketsostitutivo (100,09%)Swap (-0,09%)] mmmmm 0,35 0,69 50.616 8,16Lyxor EtfMsciAll Country World(FR0011079466)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,45 0,78 47.140 15,91Amundi EtfMsciWorld ExEmu (FR0010756114)[SinteticaUnfunded:basketsostitutivo (100,07%)Swap (-0,07%)] mmmmm 0,35 0,48 46.830 16,71DbX-Trackers Lpx Mm PrivateEquity Etf(LU0322250712)[SinteticaFunded:con Swap(100%)(collaterale119,25%)] mmmmm 0,70 0,57 45.874 36,89Lyxor EtfMsciWorld Consumer Staples(LU0533032263)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,45 0,82 44.206 23,28Lyxor EtfNew Energy (FR0010524777)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,60 0,62 43.703 8,74Lyxor EtfPrivex (FR0010407197)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,70 0,64 36.101 39,39DbX-Trackers MsciWorld HealthCare Trn (LU0540980223)[SinteticaFunded:con Swap(100%)(collaterale119,08%)] mmmmm 0,45 0,49 35.137 29,12UBS(Irl)ETF plcMSCIWorld (USD) I-dis (IE00B7KL1H59)[FisicaaCampione] mmmmm 0,30 0,76 30.320 -nord americaUbs-EtfMsci UsaI (LU0446735259)[FisicaCompleta:prestito titoli(5%) ecollaterale (102,3%)] mmmmm 0,24 0,20 190.680 16,71DbX-Trackers S&P500 Etf(LU0490618542)[SinteticaFunded:con Swap(100%)(collaterale109,76%)] mmmmm 0,20 0,18 185.928 17,25CsEtf (Ie)MsciCanada (IE00B52SF786)[FisicaCompleta:prestito titoli(29.6%) e collaterale (112.30%)] mmmmm 0,48 0,26 176.036 5,66CsEtf (Ie)MsciUsa Large Cap(B) (IE00B3VWLJ14)[FisicaCompleta] mmmmm 0,33 0,15 167.800 16,54





Amundi EtfS&P500 Eur Hedged Daily (FR0011133644)[SinteticaUnfunded:basketsostitutivo (100,05%)Swap(-0,05%)] mmmmm 0,28 0,14 150.109 -IsharesS&P500 (Acc)(IE00B4L5ZD99)[FisicaCompleta] mmmmm 0,40 0,24 134.562 17,14CsEtf (Ie)S&P500 (IE00B5BMR087)[FisicaCompleta] mmmmm 0,28 0,23 133.024 17,41Amundi EtfNasdaq 100(FR0010892216)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,23 0,15 129.789 5,24DbX-Trackers S&P500Eur Hedged Etf (3C) (LU0490619193)[SinteticaFunded:con Swap(100%)(collaterale109,76%)] mmmmm 0,30 0,23 117.927 16,11DbX-Trackers MsciUsa TrnIndex Etf(LU0274210672)[SinteticaFunded:con Swap(100%)(collaterale119,57%)] mmmmm 0,30 0,07 115.167 17,03CsEtf (Ie)MsciUsa Small Cap(B) (IE00B3VWM098)[FisicaaCampione] mmmmm 0,43 0,30 109.116 20,44CsEtf (Ie)Dow JonesInd Average (IE00B53L4350)[FisicaCompleta] mmmmm 0,33 0,22 108.977 17,36CsEtf (Ie)Nasdaq 100(IE00B53SZB19)[FisicaCompleta] mmmmm 0,33 0,28 106.532 5,30Ubs-EtfMsci Canada A (LU0446734872)[FisicaCompleta:prestito titoli(26%)e collaterale (104,9%)] mmmmm 0,51 0,30 104.629 5,48CsEtf (Ie)MsciUsa (IE00B52SFT06)[FisicaCompleta] mmmmm 0,33 0,11 97.938 17,03Etfx Russell2000 Us Small CapFund(IE00B3CNHJ55)[SinteticaUnfunded:basketsostitutivo (109%) Swap(100%)] mmmmm 0,45 0,25 93.591 20,03Rbs MarketAccess S&P 500Eur Hedged (LU0562681899)[SinteticaUnfunded:basketsostitutivo (0%)Swap (100%)(collaterale99,71%)] mmmmm 0,30 0,25 83.093 15,55iamEtf Us MinimumVarianceNr (LU0599612685)[SinteticaUnfunded:basketsostitutivo (105,5%)Swap (-5,51%)] mmmmm 0,65 0,32 72.950 21,74DbX-Trackers Russell 2000Etf(LU0322248658)[SinteticaFunded:con Swap(100%)(collaterale114,07%)] mmmmm 0,45 0,39 62.182 20,03Lyxor EtfCanada (LU0496786731)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,40 0,76 59.648 6,39Amundi EtfShort MsciUsa Daily (FR0010791194)[SinteticaUnfunded:basketsostitutivo (99,98%) Swap(0,02%)] mmmmm 0,35 0,28 57.178 -16,89Lyxor EtfFtse Epra/Nareit UnitedStates (FR0010833566)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,40 0,63 54.047 21,94Spdr S&P500 Etf(IE00B6YX5C33)[FisicaCompleta] mmmmm 0,15 0,16 52.661 -Ubs-EtfMsci Canada I (LU0446734955)[FisicaCompleta:prestito titoli(26%)e collaterale (104,9%)] mmmmm 0,34 0,36 48.345 5,59DbX-Trackers S&P500 2XLev Daily Etf (LU0411078552)[SinteticaFunded:con Swap(100%)(collaterale119,96%)] mmmmm 0,60 0,34 43.994 34,36OBBLIGAZIONARIOcdsDbX-Trackers Ii Itrx Crossover5-Y Sht (LU0321462870)[SinteticaUnfunded:basketsostitutivo (99,16%)Swap (0,84%)] mmmmm 0,24 0,35 138.085 -18,79DbX-Trackers Ii Itrx Crossover5-Y Etf(LU0290359032)[SinteticaUnfunded:basketsostitutivo (97,13%)Swap (2,87%)] mmmmm 0,24 0,21 94.621 20,28debitoalto rendimentoSpdr BarcapEuro High Yield Bond Etf(IE00B6YX5M31)[FisicaaCampione] mmmmm 0,45 0,25 63.759 -debitogovernativoIsharesBarcapEuro Treasury Bond (IE00B4WXJJ64)[FisicaaCampione] mmmmm 0,20 0,09 148.605 9,47DbX-Trackers Ii Glob SovereignEtf (1C) (LU0378818131)[SinteticaUnfunded:basketsostitutivo (100,81%) Swap(-0,81%)] mmmmm 0,25 0,27 142.519 4,67Lyxor Etf Iboxx $ Treasuries 10Y+ (FR0010961003)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,17 0,42 127.677 5,51Lyxor EtfEumts Aaa Macro-Weigh Gov 3-5Y(FR0011146349)[FisicaCompleta] mmmmm 0,17 0,08 114.280 3,26UBS-ETFMarkit iBoxx EURGermany 3-5 A (LU0721553435)[FisicaCompleta] mmmmm 0,15 0,02 108.565 -DbX-Trackers Ii Iboxx Sover Euroz 7-10(LU0290357259)[SinteticaUnfunded:basketsostitutivo (99,42%)Swap (0,58%)] mmmmm 0,15 0,25 83.902 12,19CsEtf (Ie)IboxxEur Govt 3-7 (B)(IE00B3VTML14)[FisicaaCampione] mmmmm 0,23 0,09 81.651 7,65CsEtf (Ie)IboxxEur Govt 1-3 (B)(IE00B3VTMJ91)[FisicaaCampione] mmmmm 0,23 0,13 73.876 3,09Amundi EtfGovt Bond Euromts 1-3Inv Gr(FR0010754135)[SinteticaUnfunded:basketsostitutivo (100,78%)Swap(-0,78%)] mmmmm 0,14 0,08 73.827 3,19UBS-ETFMarkit iBoxx EURGermany 5-10 A (LU0721553518)[FisicaCompleta] mmmmm 0,15 0,04 71.300 -DbX-Trackers Ii Iboxx Eur Germany 1-3(LU0468897110)[SinteticaUnfunded:basketsostitutivo (100,1%)Swap (-0,1%)] mmmmm 0,15 0,02 67.932 0,13IsharesBarcapEur Government Bond 15-30 (IE00B1FZS913)[FisicaaCampione:prestito titoli(23,59%) e collaterale(102,5%-112%)] mmmmm 0,20 0,20 62.246 15,41Amundi EtfGov Bond Euromts Broad Inv Gr(FR0010754192)[SinteticaUnfunded:basketsostitutivo (100,79%) Swap(-0,79%)] mmmmm 0,14 0,17 61.343 9,62DbX-Trackers Ii Iboxx Sover Euroz 5-7 (LU0290357176)[SinteticaUnfunded:basketsostitutivo (98,57%) Swap(1,43%)] mmmmm 0,15 0,17 57.038 9,88Amundi EtfSht Govt Euromts 1-3Inv Gr(FR0010821876)[SinteticaUnfunded:basketsostitutivo (100,49%)Swap (-0,49%)] mmmmm 0,14 0,08 50.839 -3,32dbx-trackers IIMTS x-BnktalyBTP 1D (LU0613540185)[SinteticaUnfunded:basketsostitutivo (101,61%) Swap(-1,61%)] mmmmm 0,20 0,23 41.970 13,56CsEtf (Ie)IboxxEur Govt 7-10 (B)(IE00B3VTN290)





[FisicaaCampione] mmmmm 0,23 0,24 40.040 11,91CsEtf (Ie)IboxxUsd Govt 3-7(B) (IE00B3VWN393)[FisicaaCampione] mmmmm 0,23 0,14 39.931 1,95Lyxor Etf Iboxx $ Treasuries 1-3Y (FR0010960955)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,17 0,28 38.085 0,32DbX-Trackers Ii Iboxx Sover Euroz 15+ (LU0290357507)[SinteticaUnfunded:basketsostitutivo (100,85%) Swap(-0,85%)] mmmmm 0,15 0,49 38.006 16,18CsEtf (Ie)IboxxUsd Govt 1-3(B) (IE00B3VWN179)[FisicaaCampione] mmmmm 0,23 0,13 35.255 0,30Lyxor EtfEuromts 10-15YInv Grade (FR0010037242)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,17 0,12 33.185 17,08DbX-Trackers Ii IbxEur Germany (1D) (LU0468896575)[SinteticaUnfunded:basketsostitutivo (100,3%) Swap(-0,3%)] mmmmm 0,15 0,10 32.199 3,42debitosocietarioDbX-Trackers Ii Eur LiqCorporate 100 (LU0478205379)[SinteticaUnfunded:basketsostitutivo (99,54%) Swap(0,46%)] mmmmm 0,20 0,35 114.463 5,47Amundi EtfEuro Corporates (FR0010754119)[SinteticaUnfunded:basketsostitutivo (100,9%) Swap(-0,9%)] mmmmm 0,16 0,15 101.064 5,80IsharesEb.Rexx JumboPfandbriefe (DE0002635265)[FisicaCompleta] mmmmm 0,10 0,46 33.957 3,42Amundi EtfEuro CorpFinancials Iboxx (FR0011020957)[SinteticaUnfunded:basketsostitutivo (100,73%) Swap(-0,73%)] mmmmm 0,16 0,11 32.937 7,98DbX-Trackers Ii IbxEur Corp Non-Financ(LU0484968655)[SinteticaUnfunded:basketsostitutivo (100,37%) Swap(-0,37%)] mmmmm 0,20 0,55 31.179 2,99emergenteLyxor Etf Iboxx Usd Liquid Emerg MktSov (FR0010967323)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,30 0,38 182.173 13,34Amundi EtfGlobalEmerg Bond Markitiboxx (FR0010959668)[SinteticaUnfunded:basketsostitutivo (99,95%)Swap (0,05%)] mmmmm 0,30 0,44 97.413 13,47inflazioneIshares$Tips (IE00B1FZSC47)[FisicaCompleta:prestito titoli(ND) ecollaterale (102,5%-112%)] mmmmm 0,25 0,14 144.924 4,70IsharesBarcapEur Inflation Linked Bond (IE00B0M62X26)[FisicaCompleta:prestito titoli(39,12%) ecollaterale (102,5%-112%)] mmmmm 0,25 0,13 132.330 6,16CsEtf (Ie)IboxxUsd Inflation (B)(IE00B3VTPS97)[FisicaaCampione] mmmmm 0,28 0,27 60.096 4,97DbX-Trackers Ii Eur Inflation Swap5 Y (LU0426245436)[SinteticaUnfunded:basketsostitutivo (112,8%)Swap (-12,8%)] mmmmm 0,20 0,24 42.892 -1,21monetariDbX-Trackers Ii Sterling Cash Etf(LU0321464652)[SinteticaUnfunded:basketsostitutivo (101,13%) Swap(-1,13%)] mmmmm 0,15 0,45 172.938 -2,96Amundi EtfEonia (FR0010718841)[SinteticaUnfunded:basketsostitutivo (100,05%)Swap(-0,05%)] mmmmm 0,14 0,22 128.018 0,06IsharesEb.Rexx MoneyMarket (De)(DE000A0Q4RZ9)[FisicaCompleta] mmmmm 0,13 0,34 120.900 -0,03CsEtf (Ie)FedFunds Effective Rate(IE00B3XDJG53)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,14 0,08 39.798 -0,25VALUTEemergenteEtfs3X Short Aud Long Eur (JE00B3RXT940)[SinteticaUnfunded:basketsostitutivo (102%) Swap(100%)] mmmmm 1,83 0,37 59.952 -22,11europaEtfs3X Short Chf Long Eur (JE00B3S71Q64)[SinteticaUnfunded:basketsostitutivo (102%) Swap(100%)] mmmmm 1,83 0,36 81.294 2,15Etfs3X Short Gbp Long Eur (JE00B3RQ6R05)[SinteticaUnfunded:basketsostitutivo (102%) Swap(100%)] mmmmm 1,83 0,38 59.238 4,33Etfs3X Long Gbp Short Eur (JE00B3R2DZ58)[SinteticaUnfunded:basketsostitutivo (102%) Swap(100%)] mmmmm 1,83 0,35 41.311 -11,02Etfs3X Long Chf Short Eur (JE00B3XPTF07)[SinteticaUnfunded:basketsostitutivo (102%) Swap(100%)] mmmmm 1,83 0,34 38.242 -6,76nord americaEtfs3X Long Cad ShortEur (JE00B3SDPZ16)[SinteticaUnfunded:basketsostitutivo (102%) Swap(100%)] mmmmm 1,83 0,34 54.325 -4,47Etfs3X Short CadLong Eur (JE00B44MN333)[SinteticaUnfunded:basketsostitutivo (102%) Swap(100%)] mmmmm 1,83 0,42 30.493 -5,29MATERIE PRIMEagricolturaEtfsLeveragedCotton (JE00B2NFTH59)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 1,02 92.339 -3,98EtfsLeveragedCocoa (JE00B2NFV803)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 1,18 85.148 5,84EtfsShort Wheat(JE00B24DKR51)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,41 78.620 -10,36EtfsLeveragedAgriculture Dj-Ubsci (JE00B2NFT427)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,59 61.252 -14,51EtfsLeveragedCorn (JE00B2NFTG43)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,56 49.936 6,15EtfsShort Coffee (JE00B24DK538)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,46 46.012 30,03DbAgriculture Booster Euro Hedged Etc (DE000A1ED2G8)[SinteticaFunded:con Swap(100%)(collaterale117%)] mmmmm 0,45 0,65 42.153 -4,44EtfsLeveragedSoybeans (JE00B2NFTV93)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,42 31.875 0,11





cerealiEtfsCorn (GB00B15KXS04)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,27 165.776 8,69EtfsWheat(GB00B15KY765)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,28 121.359 -1,03EtfsSoybeans (GB00B15KY542)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,27 38.610 2,99diversificatoEtfsAllCommodities Dj-Ubsci (GB00B15KY989)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,36 173.472 -4,22IsharesDowJones-Ubs Commodity Swap (DE000A0H0728)[SinteticaUnfunded:basketsostitutivo (101,12%) Swap(-1,12%) (collateraleNA)] mmmmm 0,47 0,36 103.607 -4,59Lyxor EtfCommoditiesCrb Ex-Energy (FR0010346205)[SinteticaUnfunded:basketsostitutivo (100%)Swap(0%)] mmmmm 0,35 0,69 98.006 -7,14EtfsShort AllCommodities Dj-Ubsci(JE00B24DKT75)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,27 37.683 -0,15energiaEtfsGasoline (GB00B15KXW40)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,28 169.736 4,20EtfsShort Wti Crude(JE00B24DK975)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,26 164.169 5,79EtfsLeveragedGasoline (JE00B2NFTK88)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,43 42.708 3,02ETFS Brent CrudeETC (JE00B78CGV99)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,16 30.147 -metalli industrialiEtfsLeveragedCopper (JE00B2NFTF36)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,23 168.075 -20,08EtfsCopper (GB00B15KXQ89)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,11 162.849 -8,81EtfsIndustrial Metals Dj-Ubsci (GB00B15KYG56)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,47 128.051 -10,92EtfsNickel (GB00B15KY211)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,83 83.828 -11,36EtfsLeveragedAluminium (JE00B2NFTC05)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,83 75.783 -30,45EtfsShort Copper(JE00B24DK645)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,18 75.685 2,95EtfsZinc (GB00B15KY872)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,81 48.805 -8,15EtfsAluminium(GB00B15KXN58)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,53 47.580 -15,01metallipreziosiEtfsShort Gold (JE00B24DKC09)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,42 140.358 1,23DbPhysical Silver EuroHedged Etc (DE000A1EK0J7)[FisicaCompleta] mmmmm 0,75 0,62 114.906 -13,37EtfsShort Silver(JE00B24DKK82)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 1,03 0,42 89.684 5,03EtfsPhysical Pm Basket (JE00B1VS3W29)[FisicaCompleta] mmmmm 0,44 0,42 50.136 -4,89DbPhysical Palladium Euro Hedged Etc (DE000A1EK3B8)[FisicaCompleta] mmmmm 0,75 0,99 46.689 11,53ETFS Physical SwissGold ETC (JE00B588CD74)[FisicaCompleta] mmmmm 0,39 0,16 45.903 -EtfsPrecious Metals Dj-Ubsci (GB00B15KYF40)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,57 30.410 -7,85softsEtfsCotton (GB00B15KXT11)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,63 177.791 2,09EtfsCoffee (GB00B15KXP72)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,45 159.895 -31,47EtfsSugar (GB00B15KY658)[SinteticaFunded:con Swap(100%)(collaterale103%)] mmmmm 0,49 0,38 108.991 -25,92EtfsEur Daily Hedged Coffee (JE00B6TK3K31)[SinteticaFunded:con Swap(100%)(collaterale108%)] mmmmm 0,49 0,49 39.175 -EtfsEur Daily Hedged Sugar (JE00B6X05031)[SinteticaFunded:con Swap(100%)(collaterale108%)] mmmmm 0,49 0,52 32.475 -




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