Fondaco SGR S.p.A. has adhered to the “Arbitro per le Controversie Finanziarie” (“ACF”), set up by Consob (Italian Securities and Exchange Commission) in accordance with the Consob resolution No 19602 dated May 4, 2016.

If the Investor does not receive a response to his/her complaint within 60 days, or if the Investor is dissatisfied with the outcome of the same complaint and other alternative dispute resolution procedures are not pending, before taking any court action the Investor can access the ACF. Claims to ACF must be pursued within one year from the inception of the complaint.

The ACF has jurisdiction over disputes concerning retail clients (professional clients and eligible counterparties are expressly excluded) for breach of disclosure, fairness and transparency obligations that protect investors across investment services and collective management of asset. The following are excluded: (i) disputes over amounts greater than EUR 500,000, (ii) disputes regarding damages that are not directly and immediately linked to the failure or violation of the aforementioned obligations by the intermediary, (iii) disputes referred to damages of a non-monetary nature. The right to access the ACF is free of charge, cannot be waived by Investors, and can always be exercised, even if agreements signed by Investors with Fondaco SGR S.p.A contain clauses devolving disputes to other alternative dispute resolution bodies.

Important information about the ACF is available at

Fondaco SGR S.p.A. warrants that complaints received from Investors will always be treated in accordance with the resolutions and the guidelines of the ACF.