AZ Allocation Long T.Cr.Opp.AAZ EUR/  LU2458531220  /

The Sub-fund's investment objective is to achieve medium and long-term capital growth. The Sub-fund aims to achieve its investment objective by actively managing a diversified portfolio of debt securities issued worldwide, and equities. The Sub-fund actively manages the allocation between equities and debt securities, based on the expected risk and return from these two asset classes. As such, although the Sub-fund will normally be primarily - if not wholly - invested in debt securities, the Management Company may reduce the debt component of the portfolio and also invest in equities during periods when, in the opinion of the Management Company, equities are significantly undervalued or there are not sufficient opportunities to invest in bonds with attractive returns because they may be exposed to losses in the event of rising interest rates and/or widening spreads.The Sub-fund mainly invests in fixed and/or variable income debt securities issued by governments, supranational institutions or governmental bodies worldwide and/or companies worldwide. The Subfund prefers high-yield securities such as high-yield bonds and emerging market debt securities, including frontier markets.Frontier markets are less advanced capital markets than in developing countries.

The Sub-fund's investment objective is to achieve medium and long-term capital growth.