Objective & Strategy

The investment objective of the Sub-Fund is to generate a total return in excess of the iBoxx Euro Corporates Index which represents investment grade fixed-income bonds issued by public or private corporations. In order to achieve this, the Sub-Fund invests primarily in corporate bonds denominated in euro and issued by corporate entities that may be domiciled in any geographic location and in any market sector. The Sub-Fund is oriented towards the Benchmark. It does not track it exactly but attempts to exceed its performance and can therefore deviate substantially– both positively and negatively- from the Benchmark. The Sub-fund also invests in bonds issued by governments, convertible bonds (i.e. bonds that may at some point convert to equities), asset-backed securities and mortgage-backed securities. The Manager selects the bonds to be acquired by focusing on fundamental credit analysis of corporate issuers on both an absolute and a relative basis. Quantitative and qualitative methods are used to analyse the credit standing of corporate issuers and the Manager uses the output of this analysis to identify investment opportunities. The Sub-fund may also invest in contingent convertible bonds, equities and equity warrants. The Sub-Fund may use derivatives for investment purposes, to reduce various risks or for efficient portfolio management. The Sub-Fund is actively managed. Benchmark Information: The Sub-fund is actively managed. The Manager, considering the degree of representativeness of the underlying markets and their liquidity, strategically selects a benchmark (the “Benchmark”) appropriate to the Sub-Fund’s investment policies, which is used as i) performance comparison and ii) basis for the value-at risk (“VaR”) calculations. The selected Benchmark is iBoxx Euro Corporates Index. The Sub-fund does not aim to track or replicate the performance of the Benchmark and therefore investors should be aware that the Sub-fund may underperform the Benchmark. There can be no guarantee that the investment objective will actually be attained and investors are explicitly warned that this Sub-Fund is not a capital guaranteed product. Investors can redeem their Shares on any business day in Luxembourg. Investors can ask for full or partial redemption of the Shares held. SFDR Classification: The Sub-Fund is classified as an Art. 8 financial product under SFDR. For more detailed information on the ESG components of the Sub-Fund as well as the integration of sustainability risks into the investment decision process, please refer to the supplement and to the ICAV prospectus.

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