DNCA Invest - Credit Conviction A/  LU0284393930  /

The Sub-Fund"s investment objective is to maximize the total return from a combination of income and capital growth by investing in fixed income securities. The Sub-Fund seeks to outperform the Bloomberg Euro-Aggregate Corporate Index (Bloomberg ticker: LECPTREU Index) on the recommended investment period. The overall investment strategy of the Sub-Fund is to seek, in the medium term, a regular rate of total return consistent with the preservation of capital by investing in the Euro bond market and in other negotiable debt securities. The Sub-Fund will seek to select securities in the fixed income universe by exploring various compartments of this market, including but not limited to, corporate bonds, government bonds, convertible & exchangeable bonds, perpetual bonds. The Sub-Fund will invest mainly, directly or indirectly in fixed income securities issued or guaranteed by governments, corporate issuers, or supranational entities in the OECD. The Sub Fund"s fixed income portfolio may be composed of securities belonging to the "speculative grade" category with a limit at B- rating by Standard & Poor"s for example or that are considered of a comparable credit quality by the Management Company. Non-rated debt securities may not exceed 20% of its net assets. Debt securities with a rating under B- grade (at the time of the purchase), will not exceed a total of 10% of the Sub-Fund"s total assets. If a bond is downgraded to a rating under the Bgrade, the relevant asset will not be sold unless, in the opinion of the Management Company, it is in the interest of Shareholders to do so.

The Sub-Fund"s investment objective is to maximize the total return from a combination of income and capital growth by investing in fixed income securities. The Sub-Fund seeks to outperform the Bloomberg Euro-Aggregate Corporate Index (Bloomberg ticker: LECPTREU Index) on the recommended investment period.