Order Execution Policy

a.s.r. vermogensbeheer has a best execution obligation when executing orders for investment funds, and makes choices depending on a number of factors. The relative importance of these factors depends, among other things, on market conditions, the specific instrument traded, the portfolio for which the trade is effected, the size, type and characteristics of the order, the characteristics of the execution venue and the broker where or with whom this order may be placed. a.s.r. vermogensbeheer strives for execution with minimum market impact at the lowest cost. The Order Execution Policy applies to the execution of orders for retail investors, professional investors and investment funds.