English to Italian Bus/Financial Finance (general) mercati finanziari

The Fund has been aggressively moving to reduce its defensive positioning but remained under-weight the most risky part of the market in June. The rapid re-pricing of the riskiest assets since early March has resulted in underperformance for the period. The performance gap was reduced in the most recent month as the Fund has increased its holdings in issuers that are likely to benefit from a stabilizing economy and markets and reduced its holdings in issuers of companies that were less affected by the weak economy and unstable markets.