In principle, all UCITS-funds have restrictions on the use of balance sheet and synthetic leverage. In practice, however, funds applying more complex investment strategies can calculate their use of leverage based on the Commitment Method or a Value at Risk (VaR) approach, resulting in a less stringent limit for synthetic leverage.
With a continued decline in agricultural production during the second quarter and only moderate growth in mining production, total value added by the primary sectors declined by a further 1 per cent. Against this poor performance, however, production in the rest of the economy was back on track with an expansion equal to 31½ per cent on an annualised basis.