{"id":8815,"date":"2023-03-16T15:07:29","date_gmt":"2023-03-16T14:07:29","guid":{"rendered":"http:\/\/hedgeinvest.it\/hi-crescitalia-pmi-fund\/"},"modified":"2023-12-22T11:02:21","modified_gmt":"2023-12-22T10:02:21","slug":"hi-crescitalia-pmi-fund","status":"publish","type":"page","link":"https:\/\/www.hedgeinvest.it\/en\/hi-crescitalia-pmi-fund\/","title":{"rendered":"HI CrescItalia PMI Fund"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"8815\" class=\"elementor elementor-8815 elementor-7240\">\n\t\t\t\t\t\t\t        <section class=\"elementor-section elementor-top-section elementor-element elementor-element-148c059 elementor-section-full_width elementor-section-stretched elementor-hidden-tablet elementor-hidden-mobile elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"148c059\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-f211988\" data-id=\"f211988\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-5611a73 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"5611a73\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#0c0d0e;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon .elementor-divider-separator:before,.elementor-widget-divider--view-line_text .elementor-divider-separator:after,.elementor-widget-divider--view-line_text .elementor-divider-separator:before{display:block;content:\"\";border-bottom:0;flex-grow:1;border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--element-align-left .elementor-divider .elementor-divider-separator>.elementor-divider__svg:first-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-left .elementor-divider-separator:before{content:none}.elementor-widget-divider--element-align-left .elementor-divider__element{margin-left:0}.elementor-widget-divider--element-align-right .elementor-divider .elementor-divider-separator>.elementor-divider__svg:last-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-right .elementor-divider-separator:after{content:none}.elementor-widget-divider--element-align-right .elementor-divider__element{margin-right:0}.elementor-widget-divider:not(.elementor-widget-divider--view-line_text):not(.elementor-widget-divider--view-line_icon) .elementor-divider-separator{border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                <div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-c76593f\" data-id=\"c76593f\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-83b3cde elementor-widget elementor-widget-ct_title\" data-id=\"83b3cde\" data-element_type=\"widget\" data-widget_type=\"ct_title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"ct-title1 style1\">\r\n    <h3>\r\n    \t\t        <span> HI CrescItalia PMI Fund <\/span>\r\n\t        <i><\/i>\r\n\t        <\/h3>\r\n<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                <div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-ee46e43\" data-id=\"ee46e43\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap\">\n                                    <\/div>\n        <\/div>\n                            <\/div>\n        <\/section>\n                <section class=\"elementor-section elementor-top-section elementor-element elementor-element-ce46463 elementor-hidden-desktop elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"ce46463\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b002a3f\" data-id=\"b002a3f\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-9a24493 elementor-widget elementor-widget-ct_title\" data-id=\"9a24493\" data-element_type=\"widget\" data-widget_type=\"ct_title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"ct-title1 style1\">\r\n    <h3>\r\n    \t\t        <span> HI CrescItalia PMI Fund <\/span>\r\n\t        <i><\/i>\r\n\t        <\/h3>\r\n<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                            <\/div>\n        <\/section>\n                <section class=\"elementor-section elementor-top-section elementor-element elementor-element-df540be elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"df540be\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8d1e594\" data-id=\"8d1e594\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-a1a2ea7 elementor-widget elementor-widget-text-editor\" data-id=\"a1a2ea7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h5 style=\"color: #064169;\">Obiettivo del fondo<\/h5><p>Fornire agli investitori un&#8217;esposizione efficiente al mercato immobiliare USA, tramite la costruzione di un portafoglio di fondi immobiliari diversificati per area geografica (Est\/Ovest), settore (residenziale\/commerciale), strategia di investimento (debito\/equity), approccio (opportunistico\/value added).<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                            <\/div>\n        <\/section>\n                <section class=\"elementor-section elementor-top-section elementor-element elementor-element-7024f5e elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"7024f5e\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-db2aaa4\" data-id=\"db2aaa4\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-aabc4c4 elementor-widget elementor-widget-spacer\" data-id=\"aabc4c4\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                            <\/div>\n        <\/section>\n                <section class=\"elementor-section elementor-top-section elementor-element elementor-element-0c224e9 elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"0c224e9\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-cd51873\" data-id=\"cd51873\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-e247ebb elementor-widget elementor-widget-text-editor\" data-id=\"e247ebb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5><span style=\"color: #064169;\">Fund Manager<\/span><\/h5>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dda08af elementor-widget elementor-widget-shortcode\" data-id=\"dda08af\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><div style=\"clear:both;\"><\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e086fc0 elementor-hidden-desktop elementor-hidden-tablet elementor-widget elementor-widget-spacer\" data-id=\"e086fc0\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0bed7dc elementor-widget elementor-widget-spacer\" data-id=\"0bed7dc\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                <div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-9ece716\" data-id=\"9ece716\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-f4d40de elementor-widget elementor-widget-text-editor\" data-id=\"f4d40de\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5><span style=\"color: #fab523;\">OBJECTIVE OF THE FUND<\/span><\/h5>\nHI CrescItalia PMI is a reserved closed-end fund that invests in bonds with a value ranging from 1 to 3 million Euros issued by Italian SMEs (minibonds) or provides financing to them. The selection of companies is done in collaboration with Crescitalia.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6185dbd elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-accordion\" data-id=\"6185dbd\" data-element_type=\"widget\" data-widget_type=\"accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-accordion{text-align:left}.elementor-accordion .elementor-accordion-item{border:1px solid #d5d8dc}.elementor-accordion .elementor-accordion-item+.elementor-accordion-item{border-top:none}.elementor-accordion .elementor-tab-title{margin:0;padding:15px 20px;font-weight:700;line-height:1;cursor:pointer;outline:none}.elementor-accordion .elementor-tab-title .elementor-accordion-icon{display:inline-block;width:1.5em}.elementor-accordion .elementor-tab-title .elementor-accordion-icon svg{width:1em;height:1em}.elementor-accordion .elementor-tab-title .elementor-accordion-icon.elementor-accordion-icon-right{float:right;text-align:right}.elementor-accordion .elementor-tab-title .elementor-accordion-icon.elementor-accordion-icon-left{float:left;text-align:left}.elementor-accordion .elementor-tab-title .elementor-accordion-icon .elementor-accordion-icon-closed{display:block}.elementor-accordion .elementor-tab-title .elementor-accordion-icon .elementor-accordion-icon-opened,.elementor-accordion .elementor-tab-title.elementor-active .elementor-accordion-icon-closed{display:none}.elementor-accordion .elementor-tab-title.elementor-active .elementor-accordion-icon-opened{display:block}.elementor-accordion .elementor-tab-content{display:none;padding:15px 20px;border-top:1px solid #d5d8dc}@media (max-width:767px){.elementor-accordion .elementor-tab-title{padding:12px 15px}.elementor-accordion .elementor-tab-title .elementor-accordion-icon{width:1.2em}.elementor-accordion .elementor-tab-content{padding:7px 15px}}.e-con-inner>.elementor-widget-accordion,.e-con>.elementor-widget-accordion{width:var(--container-widget-width);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-accordion\" role=\"tablist\">\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1021\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"tab\" aria-controls=\"elementor-tab-content-1021\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><i class=\"fas fa-plus\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><i class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" href=\"\">Continua a leggere...<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1021\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1021\"><p>Gli effetti di questa instabilit\u00e0 stanno creando forti pressioni sulla tenuta delle economie occidentali, innalzando i timori del mercato circa un\u2019imminente recessione negli Stati Uniti ed in Europa. Per quanto riguarda le banche centrali hanno comunque deciso di spostarsi con decisione verso una politica pi\u00f9 restrittiva (a Giugno BCE e FED hanno annunciato un rialzo dei tassi di 25bps e 75bps rispettivamente) al fine di contrastare l\u2019aggravarsi dell\u2019inflazione. <\/p><p><strong>Attivit\u00e0 di portafoglio<\/strong>: a fine trimestre il totale capitale investito \u00e8 sopra al 95%. Abbiamo iniziato a creare una posizione in Eviso, software house italiana operante nel settore dell\u2019intelligenza artificiale per il mercato energetico e delle commodities. Inoltre, abbiamo incrementato la nostra esposizione su titoli che reputiamo particolarmente interessanti per il medio-lungo periodo, come Sourcesense, Aton Green Storage ed Altea Green Power.<\/p><p><strong>Prospettive di mercato: <\/strong>in linea con la chiusura del primo trimestre, la prospettiva di mercato per la seconda parte dell\u2019anno rimane ancora piuttosto incerta. Una risoluzione del conflitto in Ucraina porterebbe sollievo nel breve termine, ma al momento \u00e8 difficile prevedere un risvolto positivo. In questo contesto \u00e8 logico quindi aspettarsi che l\u2019instabilit\u00e0 caratterizzata da un livello di inflazione e prezzi delle materie prime sopra i valori storici, perduri almeno fino alla fine del 2022. Tuttavia, per quanto riguarda il nostro mercato di riferimento, pensiamo che i fondamentali rimangano ancora positivi: 1) il PIL italiano \u00e8 previsto comunque in crescita di ca. 3% nel 2022; 2) il pacchetto di riforme introdotte dalla UE sar\u00e0 di beneficio per le PMI italiane nel medio-lungo periodo; 3) le imprese italiane virtuose sono uscite rafforzate dallo shock del covid. Alla luce dello scenario attuale, rimaniamo consistenti con la nostra strategia di investimento. Di conseguenza, proseguiremo con il nostro approccio fondamentale, basato sulla ricerca di aziende solide finanziariamente, con business model convincenti e che possano garantire una crescita sana e sostenibile nel futuro.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                            <\/div>\n        <\/section>\n                <section class=\"elementor-section elementor-top-section elementor-element elementor-element-5038b3d elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"5038b3d\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-104d00a\" data-id=\"104d00a\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-d464169 elementor-widget elementor-widget-spacer\" data-id=\"d464169\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                            <\/div>\n        <\/section>\n                <section class=\"elementor-section elementor-top-section elementor-element elementor-element-6a1a7fc elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"6a1a7fc\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2a67e16\" data-id=\"2a67e16\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-88b3069 elementor-widget elementor-widget-text-editor\" data-id=\"88b3069\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5><span style=\"color: #064169;\">Video<\/span><\/h5>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46f5927 elementor-widget elementor-widget-shortcode\" data-id=\"46f5927\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\">\n\t\t<div class=\"elementor-column elementor-col-30 elementor-inner-column elementor-element\" data-element_type=\"column\" style=\"float:left; margin:10px;\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t<div class=\"elementor-element elementor-element-29aac78 elementor-widget elementor-widget-text-editor\" data-id=\"29aac78\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/dkRieSnCayU?si=vrX65hKbe9ShGbY1\" width=\"100%\" height=\"200\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>&lt;<span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>\ufeff<\/span><\/iframe>\n\t\t\t\t\t\t<p style=\"color:#064169;\">\n\t\t\t\t\t\t\t\tHI Numen Credit Fund March 2026<br>\n\t\t\t\t\t\t\t\t<em>15-03-2026\t<\/em>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t<img decoding=\"async\" src=\"\/wp-content\/uploads\/2023\/02\/img_video.png\" width=\"100%\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\n\t\t<div class=\"elementor-column elementor-col-30 elementor-inner-column elementor-element\" data-element_type=\"column\" style=\"float:left; margin:10px;\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t<div class=\"elementor-element elementor-element-29aac78 elementor-widget elementor-widget-text-editor\" data-id=\"29aac78\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/EwDA2gpTLV0?si=oicBEzOYR2WvNO47\" width=\"100%\" height=\"200\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>&lt;<span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>&lt;\/<span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe>\n\t\t\t\t\t\t<p style=\"color:#064169;\">\n\t\t\t\t\t\t\t\tHI UK Select Fund March 2026<br>\n\t\t\t\t\t\t\t\t<em>15-03-2026\t<\/em>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t<img decoding=\"async\" src=\"\/wp-content\/uploads\/2023\/02\/img_video.png\" width=\"100%\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\n\t\t<div class=\"elementor-column elementor-col-30 elementor-inner-column elementor-element\" data-element_type=\"column\" style=\"float:left; margin:10px;\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t<div class=\"elementor-element elementor-element-29aac78 elementor-widget elementor-widget-text-editor\" data-id=\"29aac78\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/EwDA2gpTLV0?si=oicBEzOYR2WvNO47\" width=\"100%\" height=\"200\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>&lt;<span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>&lt;\/<span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe>\n\t\t\t\t\t\t<p style=\"color:#064169;\">\n\t\t\t\t\t\t\t\tHI UK Select Fund Marzo 2026<br>\n\t\t\t\t\t\t\t\t<em>15-03-2026\t<\/em>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t<img decoding=\"async\" src=\"\/wp-content\/uploads\/2023\/02\/img_video.png\" width=\"100%\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-93ff05a elementor-widget elementor-widget-spacer\" data-id=\"93ff05a\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t            <\/div>\n        <\/div>\n                            <\/div>\n        <\/section>\n                <section class=\"elementor-section elementor-top-section elementor-element elementor-element-fe835eb elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"fe835eb\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-75b2a75\" data-id=\"75b2a75\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-b8d3c88 elementor-widget elementor-widget-text-editor\" data-id=\"b8d3c88\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5><span style=\"color: #064169;\">Fund Data<\/span><\/h5><p>Guarantee Fund for SMEs of the Ministry of Economic Development (law 662\/96) <a href=\"https:\/\/www.fondidigaranzia.it\/\" target=\"_blank\" rel=\"noopener\">www.fondidigaranzia.it<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be0a36b elementor-widget elementor-widget-spacer\" data-id=\"be0a36b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a81f6f elementor-widget elementor-widget-accordion\" data-id=\"2a81f6f\" data-element_type=\"widget\" data-widget_type=\"accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-accordion\" role=\"tablist\">\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-4451\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"tab\" aria-controls=\"elementor-tab-content-4451\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><i class=\"fas fa-plus\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><i class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" href=\"\">Characteristics<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-4451\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-4451\"><p><span style=\"color: #064169;\"><strong>Additional Investments<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">N.D.<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Fund Start Date<br><\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">N.D.<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Subscription<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">Fino a marzo 2018<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Redemption<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">N.D.<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Notice Period<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">N.D.<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Management Fee<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">Class A1: 0,60% &#8211; Class A2: 1,00%<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Incentive Fee<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">Class A1: 0,15% p.a. &#8211; Class A2: 0,25% p.a.<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Tax Treatment<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">26% (withholding tax)<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong> SGR Authorization <\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">Banca d&#8217;Italia, 27 April 2001<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong> Fund Authorization <\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">November 2013<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong> Depositary<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">BNP Paribas S.A., Italian Branch<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>ISIN<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">Class A1 IT0005073702 (closed)<br>Class A2 IT0005073710 (closed)<br>Class B IT0005073728 (closed)<\/p>\n<hr>\n<p><span style=\"color: #064169;\"><strong>Bloomberg<\/strong><\/span><\/p>\n<p style=\"padding-left: 15px;\">N.D.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-accordion-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-4452\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"tab\" aria-controls=\"elementor-tab-content-4452\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon elementor-accordion-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-closed\"><i class=\"fas fa-plus\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-accordion-icon-opened\"><i class=\"fas fa-minus\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-accordion-title\" href=\"\">Legal Documents<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-4452\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-4452\">\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody>\n\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t<td><strong style=\"color: #064169;\">Fascicolo Informativo (IT)<\/strong><\/td>\n\t\t\t\t\t\t\t\t<td>\n\t\t\t\t\t\t\t\t\t<a href=\"\/uploads\/Documenti\/FASCICOLO INFORMATIVO EXECUTION VERSION_IT_Aprile 2025 clean-14.pdf\" target=\"_blank\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/11\/icodownload.png\" width=\"32\" \/><\/a>\n\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t<\/tr>\n\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t<td><strong style=\"color: #064169;\">Politica in materia di impegno dei gestori attivi (IT)<\/strong><\/td>\n\t\t\t\t\t\t\t\t<td>\n\t\t\t\t\t\t\t\t\t<a href=\"\/uploads\/Documenti\/Politica_in_materia_di_impegno_dei_gestori_attivi_ott23.pdf\" target=\"_blank\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/11\/icodownload.png\" width=\"32\" \/><\/a>\n\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t<\/tr>\n\n\t\t\t\t\t\t<\/tbody><\/table><div id=\"italiat\">\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody>\n\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t<td><strong style=\"color: #064169;\">Fascicolo Informativo (IT)<\/strong><\/td>\n\t\t\t\t\t\t\t\t<td>\n\t\t\t\t\t\t\t\t\t<a href=\"\/uploads\/Documenti\/FASCICOLO INFORMATIVO EXECUTION VERSION_IT_Aprile 2025 clean-14.pdf\" target=\"_blank\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/11\/icodownload.png\" width=\"32\" \/><\/a>\n\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t<\/tr>\n\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t<td><strong style=\"color: #064169;\">Politica in materia di impegno dei gestori attivi (IT)<\/strong><\/td>\n\t\t\t\t\t\t\t\t<td>\n\t\t\t\t\t\t\t\t\t<a href=\"\/uploads\/Documenti\/Politica_in_materia_di_impegno_dei_gestori_attivi_ott23.pdf\" target=\"_blank\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2022\/11\/icodownload.png\" width=\"32\" \/><\/a>\n\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t<\/tr>\n\n\t\t\t\t\t\t<\/tbody><\/table><\/div><div id=\"irlandat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"svizzerat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"granbretagnat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"germaniat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"franciat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"spagnat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"austriat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"belgiot\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"lussemburgot\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"olandat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"sveziat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"finlandiat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"danimarcat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div><div id=\"norvegiat\"><p style=\"width: 100%;\">Non sono presenti documenti per questa nazione<\/p>\n\t\t\t\t\t<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><\/tbody><\/table><\/div>\t<script type=\"text\/javascript\">\n\n\t\t\tdocument.getElementById(\"italiat\").style.display = \"none\";\n\t\t\tdocument.getElementById(\"irlandat\").style.display = \"none\";\n\t\t\tdocument.getElementById(\"svizzerat\").style.display = \"none\";\n\t\t\tdocument.getElementById(\"granbretagnat\").style.display = \"none\";\n\t\t\tdocument.getElementById(\"germaniat\").style.display = \"none\";\n\t\t\tdocument.getElementById(\"franciat\").style.display = \"none\";\n\t\t\tdocument.getElementById(\"spagnat\").style.display = 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\"none\";\n\t\t\t\tdocument.getElementById(\"granbretagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"germaniat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"franciat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"spagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"austriat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"belgiot\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"lussemburgot\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"olandat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"sveziat\").style.display = \"flex\";\n\t\t\t\tdocument.getElementById(\"finlandiat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"danimarcat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"norvegiat\").style.display = \"none\";\n\t\t\t  }\n\t\t\t  if (x==\"finlandia\"){\n\t\t\t  \tdocument.getElementById(\"italiat\").style.display =  \"none\";\n\t\t\t\tdocument.getElementById(\"irlandat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"svizzerat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"granbretagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"germaniat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"franciat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"spagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"austriat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"belgiot\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"lussemburgot\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"olandat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"sveziat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"finlandiat\").style.display = \"flex\";\n\t\t\t\tdocument.getElementById(\"danimarcat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"norvegiat\").style.display = \"none\";\n\t\t\t  }\n\t\t\t  if (x==\"danimarca\"){\n\t\t\t  \tdocument.getElementById(\"italiat\").style.display =  \"none\";\n\t\t\t\tdocument.getElementById(\"irlandat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"svizzerat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"granbretagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"germaniat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"franciat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"spagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"austriat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"belgiot\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"lussemburgot\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"olandat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"sveziat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"finlandiat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"danimarcat\").style.display = \"flex\";\n\t\t\t\tdocument.getElementById(\"norvegiat\").style.display = \"none\";\n\t\t\t  }\n\t\t\t  if (x==\"norvegia\"){\n\t\t\t  \tdocument.getElementById(\"italiat\").style.display =  \"none\";\n\t\t\t\tdocument.getElementById(\"irlandat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"svizzerat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"granbretagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"germaniat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"franciat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"spagnat\").style.display = \"none\";\n\t\t\t\tdocument.getElementById(\"austriat\").style.display 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elementor-section-boxed elementor-section-height-default elementor-section-height-default ct-header-fixed-none ct-row-max-none\" data-id=\"91d8c3b\" data-element_type=\"section\">\n            \n                        <div class=\"elementor-container elementor-column-gap-default \">\n                    <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9262030\" data-id=\"9262030\" data-element_type=\"column\">\n            <div class=\"elementor-widget-wrap elementor-element-populated\">\n                        \t\t<div class=\"elementor-element elementor-element-437775e elementor-widget elementor-widget-html\" data-id=\"437775e\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style class=\"accordion-closed-on-load\">\nbody:not(.elementor-editor-active) .elementor-widget-accordion .elementor-tab-content {\ndisplay: 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