Closed-End Fund Financial Statements

A separate financial statement is drawn up – on a six-month and annual basis - for each Fund managed by Scudo Investimenti SG, and audited by:

Solution s.r.l.
Via XXVIII Luglio, n. 212
47893 Borgo Maggiore
Repubblica di San Marino

Scudo Arte Moderna

It is a closed-end alternative Fund reserved for professional clients, with medium-long term investment horizon (2-10 years).

The Net Asset Value (NAV as at 29 December 2011 is equal to EUR 24.179,240.

financial statement - financial statement