BANK INVEST SICAV NEW EMERGING MARKETS EQUITIES – INVESTOR LETTER Q2 2016 AND OUTLOOK

BI SICAV New Emerging Markets Equities – Investor Letter Q2 2016 and Outlook

For our investors as well as the managers of this fund, the last quarter was quite satisfactory. The fund return of 7.6% was higher than Global equities (3.6%) and Emerging Markets equities (3.3%, both in EUR-return). The fund’s outperformance of +3.8 percentage points (net of fees) relative to the benchmark was also encouraging.