Internal Auditing

The Internal Audit function is tasked with verifying the adequacy and effectiveness of systems, processes, procedures and control mechanisms put in place by the Management Company. The Internal Audit function is placed in a position of functional autonomy, reporting directly to the Board of Directors, and has been outsourced to the independent, third-party company, Nexen S.p.A. The Internal Audit function, in accordance with provisions of the Joint Bank of Italy-Consob Regulations dated 29 October 2007, continuously monitors the completeness, functionality and adequacy of internal control systems in relation to the nature and level of risks assumed.