Governing Board decisions in the meeting of January 18 2016

The Governing Board of the Kosovo Pension Savings Trust in the meeting of January 18, 2016, having reviewed the performance of investment funds as well as the overall performance of KPST, took the following decisions:

1) To change the target of investment limits, mainly by reducing investments in directional equities and bonds, and adding to multi-assets, cash and to risk-managed equities. Details of all the changes are presented in the Strategic Allocation in the following link: http://trusti.org/en/investments/asset-allocation/

2) To fully redeem investments in the Tobam Anti-Benchmark Fund, which were in excess of €30 million, as it was not performing in line with expectations; and to redeem €100 million from Schroder’s fixed income fund due to the belief that this market is expected to provide little room for future gains in the coming years.

The redeemed assets will be redirected to: Nordesa SRF (€30 million), AXA OI (€30 million), BNY Mellon (€30 million), Nordea GSEF (€19 million), Pictet (€7 million), KBI (€7 million), and around €10 million in Kosovo treasuries.

3) To participate in the upcoming bids of Kosovo Government securities.