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Report of Executive Board of Directors

COVID-19 virus in 2020

During the finalisation of this annual report, the world was overtaken by a serious crisis due to the COVID-19 virus.

This annual report pertains to the 2019 financial year, but any forward-looking statements related to 2020 and beyond are no longer valid.

Given the rapid developments and the impact on the economy as a whole, the fund performance and the fund-specific risks, we decided to not make any changes to texts as a great deal of the impact is still uncertain.

We will inform our shareholders each quarter on the fund performance, status and market situation, as part of our normal shareholder reporting cycle. If necessary, we will inform shareholders of any developments in the interim.

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