Sectorial split

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Factsheet

SRRI risk indicator ²

Investment policy

OBJECTIVES The fund’s objective is to outperform its reference indicator over a recommended investment horizon of five years. The reference indicator is the MSCI AC World NR Index. This fund is an actively managed UCITS where the investment manager has discretion over the composition of the portfolio, subject to the stated investment objectives and policy. The fund’s investment universe is at least partly derived from the reference indicator. The fund’s investment strategy is not dependent on the indicator. Therefore, the fund’s holdings and the weightings may substantially deviate from the composition of the indicator. There is no limit set on the level of such deviation. The fund is invested in financial markets all over the world. Its main performance drivers are as follows (i) Equities: at least 60% of the Fund's net assets are permanently exposed to international equities (all capitalisations, without restrictions in terms of sector or region, including emerging countries); (ii) Currencies: the fund may use currencies other than the fund's valuation currency for exposure or hedging purposes. Net currency exposure may be as much as 125% of net assets; (iii) Credit: the fund invests on all international markets. Up to 10% of the fund’s net assets may be invested in unlisted securities selected by the portfolio manager. The fund uses futures and options for hedging or arbitrage purposes, and/or to expose the portfolio to the following risks (directly or via indices): currencies, interest rates, equities (all caps), ETFs, dividends, volatility, variance (the latter two categories for up to 10% of net assets) and commodities (up to 20% of assets). The envisaged leverage, calculated as the sum of nominal amounts without netting or hedging, is 200% but may be higher under certain conditions. Up to 10% of the net assets may be invested in contingent convertible bonds (“CoCos”). The fund may invest up to 10% of its net assets in units or shares of investment funds. The fund promotes environmental/social characteristics in accordance with Article 8 of the sustainability-related financial disclosures regulation (SFDR) through “best-in-universe” and “besteffort” approaches and an active engagement policy. An analysis of extra-financial criteria leads to a reduction of at least 20% in the fund’s investment universe through negative screening to exclude companies whose non-financial ratings reflect high risk. In addition, the fund invests at least 50% of its net assets in sustainable investments within the meaning of the SFDR and aims to gradually reduce the portfolio's carbon emissions. The definition of sustainable investment used by the fund is based on the framework of the United Nations Sustainable Development Goals (SDGs). This framework is only one of the frameworks that can be used to illustrate positive results; others may reveal different results. The fund’s sustainability risk may differ from that of the reference indicator.

The investment policy of the fund is extracted from the KIID