The following table presents the asset allocation as of 29.10.2026 vs the strategic allocation in force on this date. The targets and the ranges of the strategic allocation presented here, were approved by the Governing Board on 16.09.2026.
| ASSET CLASS ALLOCATION | €4,408,109,165 | 100.0% | MIN | TARGET | MAX |
| Cash and money markets | €295,834,062 | 6.7% | - | 1% | 20% |
| Fixed income | €764,382,596 | 17.3% | - | 11% | 50% |
| Multi-assets | €373,057,765 | 8.5% | - | 8% | 35% |
| Real assets | €305,930,868 | 6.9% | - | 5% | 33% |
| Equities | €2,668,903,873 | 60.5% | 40% | 55% | 75% |
| STRATEGY ALLOCATION | €4,408,109,165 | 100.0% | MIN | TARGET | MAX |
| Growth | €2,935,613,828 | 66.6% | 40% | 58% | 65% |
| Stability | €1,176,661,275 | 26.7% | - | 21% | 50% |
| Tactical | €102,876,748 | 2.3% | - | 2% | 20% |
| Liquidity | €192,957,315 | 4.4% | - | 1% | 40% |
| Allocation as per Class and Strategy | €4,408,109,165 | 100.0% | TARGET | MIN | MAX |
| Cash/Tactical | €102,876,748 | 2.3% | 1% | - | 20% |
| Amundi Smart Overnight Return ETF | €102,876,748 | 2.3% | |||
| Cash/Liquidity | €28,675,813 | 0.7% | 1% | 1% | 10% |
| Cash at banks | €28,675,813 | 0.7% | |||
| Money markets/Liquidity | €164,281,501 | 3.7% | 1% | - | 10% |
| Amundi Euro Liquidity | €164,281,501 | 3.7% | |||
| Bonds - Kosovo Treasuries/Stability | €399,789,124 | 9.1% | 4% | - | 25% |
| Kosovo Treasuries | €399,789,124 | 9.1% | |||
| Bonds - Investment Grade/Stability | €94,231,648 | 2.1% | 3% | - | 25% |
| Austrian Treasuries | €32,419,759 | 0.7% | |||
| French Treasuries | €31,599,608 | 0.7% | |||
| Italian Treasuries | €30,212,281 | 0.7% | |||
| Term deposits/Stability | €270,361,824 | 6.1% | 4% | - | 10% |
| Term Deposits | €270,361,824 | 6.1% | |||
| Multi-assets/Stability | €373,057,765 | 8.5% | 8% | - | 15% |
| Schroder ISF Global MA Bal | €163,608,466 | 3.7% | |||
| Allianz Dynamic Multi Asset | €105,864,355 | 2.4% | |||
| Blackrock Global Allocation | €103,584,944 | 2.3% | |||
| Real assets/Growth | €266,709,955 | 6.1% | 3% | - | 8% |
| iShare US Infr ETF | €114,253,515 | 2.6% | |||
| Global X US Infra Dev ETF | €82,045,046 | 1.9% | |||
| Global X Data Center Dig Infra ETF | €50,166,703 | 1.1% | |||
| iShares US Digital Infrastr and RealEstate ETF | €20,244,691 | 0.5% | |||
| Real assets/Stability | €39,220,914 | 0.9% | 1% | - | 15% |
| iShare Resid. M-Factor Real Estate ETF | €39,220,914 | 0.9% | |||
| Equities - Passive/Growth | €2,002,219,518 | 45.4% | 37% | 25% | 40% |
| Vanguard GSIF | €1,001,696,147 | 22.7% | |||
| Invesco S&P500 Eur Hedg ETF | €339,893,632 | 7.7% | |||
| iShare MSCI Eur Value ETF | €149,364,080 | 3.4% | |||
| Vanguard Value ETF | €93,252,107 | 2.1% | |||
| iShares MSCI EM UCITS ETF | €90,166,877 | 2.0% | |||
| Amundi MSCI Eu QualFact ETF | €78,717,513 | 1.8% | |||
| Amundi MSCI Japan ETF | €64,410,874 | 1.5% | |||
| iShares Core FTSE 100 UCITS ETF | €61,895,276 | 1.4% | |||
| UBS Core SPI ETF | €46,336,267 | 1.1% | |||
| SPDR SP Eur Div Aristocrats ETF | €39,110,400 | 0.9% | |||
| SPDR Russell 2000 US SmlCp ETF | €37,376,345 | 0.8% | |||
| Equities - Active/Growth | €522,101,484 | 11.8% | 12% | 10% | 25% |
| Schroder Global Equity Alpha | €152,521,689 | 3.5% | |||
| Nordea GSE | €142,765,189 | 3.2% | |||
| Schroders Sustainable Growth | €114,310,625 | 2.6% | |||
| JPM Global Select Equity €H | €112,503,981 | 2.6% | |||
| Equities - Thematic/Growth | €144,582,871 | 3.3% | 2% | - | 12% |
| BNP Healthcare Innovators | €40,571,692 | 0.9% | |||
| Future of Defence ETF | €39,835,057 | 0.9% | |||
| VanEck Defense ETF | €36,929,819 | 0.8% | |||
| iShares Listed Private Equity | €27,246,302 | 0.6% |