we are committed to helping you understand changes to your employee savings plans.

The AIRBUS PERCOL SHARES fund is evolving to comply with new legislation while aiming for optimised long-term performance.

Here is what you need to know about these changes and the options available to you.

 Why this change? The “Green Industry” Law 

This change is dictated by the Green Industry Law (LIV). It requires the inclusion of a portion of unlisted assets (companies not listed on the stock exchange) in the management of retirement savings plans.

The objective is twofold:

• Economic: Support the reindustrialisation of France and job creation.

• Environmental: Finance the ecological transition to address the climate emergency

 The new structure of the fund

To comply with the law while retaining the ‘Airbus’ identity, your fund will now include 11% unlisted assets (8.25% in unlisted equities and 2.75% in private debt).

What this means for you:

• Risk: The fund’s risk indicator will increase from 4 to 6. These assets are only valued every three months, which automatically results in a risk level 6 classification according to the AMF (Autorité des Marchés Financiers) scale.

• Management fees: Indirect fees are increasing (capped at 0.50% compared to 0.20% previously), as managing unlisted assets is more complex.

• Performance: Simulations by the manager (Sienna) indicate that the inclusion of unlisted assets improves returns (IRR) compared to previous grids.

Rest assured: The fund retains 89% of listed assets to guarantee your daily withdrawals and arbitrage. In addition, the overall risk is smoothed out by managed investment: the closer you get to retirement, the more secure your savings are in very low-risk funds (level 1 or 2).

 Your options :

If you are not satisfied with this new policy, you can take the following actions at no cost:

• Switch to discretionary management: If you do not wish to be exposed to unlisted securities, you can opt for discretionary management by not selecting the PERCOL AIRBUS ACTION fund.

• Redemption: Recover your available units if you meet the legal conditions for release.

 The CFE-CGC at your side

Retirement savings are a long-term investment. These technical changes do not affect the taxation or release conditions of your PERCOL.

Need personalised advice or support with your arbitrage decisions?

Our CFE-CGC employee savings specialist is available to analyse your situation and help you make the best choices for your future.