Within our investment portfolio, we have a mixed fund and a fund that invests in European Equities.

The returns and weightings by type of asset (in the mixed fund) or sector (in the variable income fund) during the last year have been:

MIXED FUND BENCHMARK

Weighing Profitability WeighingProfitability

Monetary Assets 10% 4%20% 5%

Bonds 30%10%10% 15%

Stocks60%25% 70%20%

VARIABLE INCOMEFUND BENCHMARK

WeighingProfitabilityWeighingProfitability

Energy10%18%30%15%

Finance30%25%10%20%

Consumption 15% 20% 35%30%

Technology 45% 5% 25%-5%

Question:

It is asked to bkeak down the performance of the funds and analze, if their managers have added or destroyed value, and in what phases of the construction of portfolios they have donde so.