Objective & Strategy

The Sub-Fund invests predominantly in investment grade bonds denominated in Euro. The Investment Manager selects the investments by focusing on fundamental credit analysis of issuers on both an absolute and a relative basis. Quantitative and qualitative methods are used to analyse the credit standing of issuers and the Investment Manager uses the output of this analysis to identify investment opportunities, taking into consideration factors such as the level of credit spreads, market supply and demand imbalances of credits, and liquidity. The Sub-Fund may invest materially in non-investment grade securities, convertible securities and asset-backed securities. The Sub-Fund may use derivatives for investment purposes, to reduce various risks or for efficient portfolio management. Recommended for retail investors With a basic knowledge of investing in funds and no or limited experience of investing in the Sub-Fund or similar funds Who understand the risk of losing some or all of the capital invested Seeking to increase the value of their investment and provide income over the recommended holding period of 4 years This is a non-distributing unit class. Investment income is re-invested. Investors may sell on demand on any business day in Luxembourg.

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