Montségur Rendement mutual fund (Montségur High Yield Dividend Fund) seeks to obtain high dividend yield from a portfolio of European Community equities, by taking opportunistic advantage of market conditions. The Fund’s primary objective is to invest in stocks which offer a high dividend yield (dividend per share/stock price) over 3.5%, this being a battlement for investors during market slumps. This approach gives the Fund a rather low risk profile compared to a market based indexed portfolio.

The Fund also has a distribution part that allows the share holder to take hold of the dividends distributed by the companies, without affecting their capital.

Equity portfolio key points

1- Money Market Products

The fund will hold at all times at least 75% of its assets in European equities. The portfolio particularly favours large European capitalisations that are very active. Considering that the Funds objective is to be on the safe side, the Fund may use forward financial instruments in order to hedge the portfolio against a risk of a fall in the equity market as well as reducing volatility.

2- Shares

This reserve of cash allows to step in to markets to initiate or to defend an investment, as well as meeting eventual client buybacks. The Fund uses monetary mutual funds and short term treasury bonds (State or Private), as long as they at least rate BBB.

Characteristics

• Code ISIN : Part C FR0010263574
• Code ISIN : Part D FR0010271676
• Pricing frequency : daily, except public holidays
• Initial net asset value : 100 €
• Minimum subscription amount : one thousandth
• Depositary : CM-CIC SECURITIES
• Conditions of subscriptions and redemptions : The subscriptions and redemption orders are centralised through CM-CIC Securities until 11:00am and are executed on the closing price.
• Classification : French Equities
• Taxation System : The Fund is eligible for Saving Equity Plan (PEA).