Objective & Strategy

The investment objective of the Sub-Fund is to provide long-term income and capital growth. The Sub-Fund invests primarily in bonds rated as investment grade by one or more of the main credit rating agencies, which are denominated in Euro and may be issued by governments, government agencies or companies. The Manager selects investments and creates the portfolio by performing both top-down and bottom-up investment analysis. The bottom-up analysis focuses on transparency and corporate governance criteria and an assessment of legal, reputational and environmental risks as well as an analysis of asset valuations. The top-down analysis focuses on the Manager’s expectations regarding macroeconomic conditions such as growth, inflation and trends in corporate credit quality. The Sub-Fund may also invest in non-Euro denominated bonds, contingent convertible bonds (i.e. bonds that may at some point convert to equities), and bonds that are rated below investment grade by one or more of the main ratings agencies. The Sub-Fund may use derivatives for investment purposes, to reduce various risks or for efficient portfolio management. point ii below) 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 performance comparison. The selected Benchmark is Benchmark: Markit iBoxx EUR Corporates Index. The Subfund 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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