Decisions of the Investment Committee on September 11, 2025
In accordance with Article 5 and based on Article 9, paragraphs 9.1 and 9.6 of Law No. 04/L-101, amended and supplemented by Law 04/L-115, Law 04/L-168, Law 05/L-116, and Law 07/L-016, as well as in accordance with Article 13, Article 33, and paragraph 1 of Article 41 of the Statute of KPST, and with the Statement of Investment Principles of KPST, the Investment Committee of the KPST’s Governing Board, on September 11, 2025, made the following decisions:
1. To invest tactically in the WisdomTree Physical Gold EUR Daily Hedged ETF (with ISIN: JE00B8DFY052), as follows:
a) 40 million euros of the Standard Portfolio and
b) 6 million euros of the Balanced Portfolio.
2. The financing of this investment shall be made from cash and from the Amundi Euro Liquidity money market fund.
3. The investments according to point 1 of this decision shall be sold in full if the price of the instrument from the initial investment:
a) Increases by +12.5% or
b) Decreases by -7%.