The Management Company has decided not to establish a shareholder engagement policy nor to publish such a policy on its website, in accordance with Article 47 ter, section 6. This decision is based on the nature of our activities as a manager of closed-end investment entities, where the structure and investment approach differ significantly from managers operating in regulated markets with high liquidity and a large number of shareholders. Investments in closed-end entities typically involve a more direct level of participation and control over the companies in which we invest, making it unnecessary to establish a formal engagement policy as specified in the aforementioned article. Therefore, we do not consider the adoption of an engagement policy to be relevant or proportional to the characteristics of our operations and the interests of our investors.
