OTP Western European Equity Fund – EUR

The fund provides an investment opportunity to benefit from the performance of the Western European Equity markets. The portfolio manager invests mainly in the European Monetary and Economic Union (primarily France, Germany, The Netherlands, Spain, Italy, Finland, Belgium, Ireland). The targeted average equity exposure is 90%. Monthly statement Macro environment: European equity market developments over the past month were primarily driven by the acceleration of the quarterly earnings season, as well as geopolitical risks and price volatility linked to energy markets. Corporate results painted a moderately positive overall picture: the majority of announcements came in broadly in line with expectations, the range of surprises remained limited, while performance dispersion across sectors stayed pronounced. The banking sector was characterised by overall stable profitability. Net earnings