Our portfolios have no exposure to Silicon Valley Bank, and more generally our bond portfolios have no exposure to other banking and financial institutions.
As a reminder, Anaxis AM adopts a management approach based on an in-depth credit analysis of each issuer. Financial institutions have complex and difficult-to-read balance sheets, and their solvency depends on the fluctuating value of their financial assets. We have therefore excluded them from our investment universe, which in our view contributes to the robustness of our funds.