Cobas LUX SICAV - Palm Harbour Global Value Fund - F EUR ACC Fonds

The Sub-Fund seeks to provide principal preservation and long-term capital appreciation by offering an exposure to global equities and equity related securities. The Sub-Fund normally invests in the common stocks of companies with, in the Investment Manager's opinion, a sustainable competitive advantage. The choice of investments will neither be limited by geographical area (including emerging markets), nor by economic sector, nor in terms of market capitalization, nor currencies in which investments will be denominated. However, depending on financial market conditions, a particular focus can be placed in a single country (or some countries) and/or in a single market capitalisation and/or in a single currency and/or in a single economic sector. Within the limits set-out below, the Sub-Fund can be invested to up to 49% of its net assets in any other eligible assets, other than those above-mentioned, such as debt securities of any type, structured products, money market instruments, cash and cash equivalents, UCITS and Other UCIs. The Sub-Fund will be subject to the following limits: Non-investment grade debt securities up to 20% of its net assets, Distressed or defaulted debt securities up to 10% of its net assets, ABS/MBS up to 5% of its net assets, Units or shares of UCITS and/or Other UCIs up to 10% of its net assets. If the Investment Manager considers this to be in the best interest of the shareholders, on a temporary basis and for defensive purposes, the Sub-Fund may also, hold, up to 100% of its net assets, liquidities as among others cash deposits, money market UCITS and/or Other UCIs (within the above-mentioned 10% limit) and money market instruments.