Governing Boards decisions in the meeting of June

The Governing Board of the KPST in the meeting of June has taken following decisions:

1. To redeem in full from Kleinwort Benson Investors – Institutional Developed Equity Fund H EUR
2. To invest additional 50 million euro with Nordea 1 Global Stable Equity Unhedged
3. To redeem 18 million euro from AXA Global Inflation Linked Bonds Eur
4. To participate in the 2 year Kosovo bond auction of June 2016 with 15 million euro
5. To engage the following open-end funds (initially placing 40 million euros in each):
   – Deutsche Asset Management – Deutsche Concept Kaldemorgen
   – Amundi AM – Amundi Rendement Plus-I2
   – BNP Paribas – Parvest Diversified Dynamic
6. To change targets as per below:
   – Equities/Risk managed from 8% to 10%
   – Equities/Income from 8% to 5% and
   – Cash from 4% to 5%