Consilium SGR p.A. hasn’t adopted a Commitment Policy as specified in Article 124-quinquies of the TUF since the investment policy of the funds under management isn’t geared towards investing in companies with shares admitted to trading on a regulated market in Italy or in another Member State of European Union; the investments allowed in these companies are subject to a series of limitations and circumscribed cases (including: percentages with respect to the fund’s assets, listing subsequent to the initial investment by the fund or companies acquired in delisting transactions). It should also be noted that currently the funds managed by Consilium SGR don’t hold companies with shares admitted to trading on a regulated market in Italy or in European Union states. It will be the responsibility of Consilium SGR to draw up and publish a Commitment Policy where in the future the conditions envisaged by the legislation occur.