Objective & Strategy

Objectives and Investment Policy The investment objective of the Sub-Fund is to maximize total returns. The Sub-Fund invests primarily in developed market bonds of all credit ratings, investment grade, below investment grade and distressed; and all types, including those issued by governments, institutions or companies. The Sub-fund may invest in money market instruments, cash and also in bonds issued in emerging markets. The Sub-Fund may invest in asset backed securities (i.e. an asset that is backed by a pool of loans or receivables), contingent convertible bonds (i.e. bonds that may at some point convert to equities) and may take active positions in currencies globally. The Investment Manager selects investments and creates the portfolio by following an investment process that focuses on macroeconomic analysis of the global economic position, credit analysis of bond issuers' creditworthiness, absolute and relative value analysis of security prices and by consideration of risk and diversification at portfolio level. The Sub- Fund may use derivatives for investment purposes, to reduce various risks or for efficient portfolio management. The Fund is actively Managed. The Fund does not aim to track the performance of a benchmark. Portfolio composition is determined based on active and discretionary investment decisions and choices. 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. 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 who are willing to accept a medium level of volatility
■ This fund may not be appropriate for investors who plan to withdraw their money within 3 years This is a distributing unit class. Investment income is distributed. Investors may sell on demand on any business day in Luxembourg.

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