AZ Allocation - Dynamic FoF A-AZ FUND USD (ACC)/  LU2149212784  /

The Sub-fund's investment objective is to achieve moderate medium and long-term capital growth. The Sub-fund is a fund of funds which aims to achieve its investment objective by investing between 50% and 100% of its net assets in units of UCITS and/or other UCIs. The Sub-fund actively manages allocation between and among asset classes using a top-down approach. The Sub-fund's primary focus is active management of equity exposure within the range of 0% to 150% of net assets on the basis of, among other factors, developments on the equity markets, the risk and return expected for the asset class, developments in terms of global gross domestic product (GDP), the liquidity cycle, central bank monetary policy, governments' tax policies and market sensitivity. The Sub-fund directly or indirectly invests up to 150% of its net assets in equities issued by companies worldwide, including up to 60% in emerging markets. The Subfund gains indirect exposure by investing in the units of UCITS and/or of other UCIs, derivatives on equities and/or equity indices. Direct investments in equity and equity-related securities will not exceed 10% of the net assets of the Sub-fund. For the portion of the portfolio invested in debt securities, the Sub-fund may invest up to 100% of its net assets in units of UCITS and/or of other UCIs investing in debt securities and money market instruments issued by issuers of developed countries, and may also invest up to 50% of its net assets directly in debt securities issued by governments, supranational institutions or governmental authorities of developed countries, in units of UCITS and/or of other UCIs investing in sub-investment grade debt securities, and/or in units of UCITS and/or of other UCIs investing in debt securities and money market instruments issued emerging market issuers.

The Sub-fund's investment objective is to achieve moderate medium and long-term capital growth. The Sub-fund is a fund of funds which aims to achieve its investment objective by investing between 50% and 100% of its net assets in units of UCITS and/or other UCIs. The Sub-fund actively manages allocation between and among asset classes using a top-down approach. The Sub-fund's primary focus is active management of equity exposure within the range of 0% to 150% of net assets on the basis of, among other factors, developments on the equity markets, the risk and return expected for the asset class, developments in terms of global gross domestic product (GDP), the liquidity cycle, central bank monetary policy, governments' tax policies and market sensitivity.