FAM Convex Opportunities - I/  DE000A3E3Z11  /

The objective is to generate a positive annual return for investors, with reasonable market risks. The investment objective is pursued by intending to invest the fund's assets mainly in bonds, money market instruments, demand deposits, target funds (money market funds, near money market funds or bond funds) or derivatives. In order to minimize interest rate and credit risks, the fund management intends to invest in the bond portfolio mainly in securities with an investment grade rating and a low modified duration. Individual securities are analyzed and their risk/return profile is compared with other, similar bonds. The bond portfolio pursues a broad diversification in order to adequately diversify risks. The derivatives used are primarily exchange-listed options on major U.S. equity indices. By focusing on equity indices, individual security risks are diversified. The traded options generally have remaining terms of up to 6 months. Options are used for both investment and hedging purposes. Depending on the market situation, the fund management decides which options offer attractive earnings opportunities and which options are suitable for partially hedging potential risks. By combining investment and hedging positions, the fund management aims to create the most attractive risk-return profile possible in the options portfolio. The Company may invest up to 10 percent of the value of the Fund in shares of target funds. Derivatives may be used to hedge and optimize returns.

The objective is to generate a positive annual return for investors, with reasonable market risks. The investment objective is pursued by intending to invest the fund's assets mainly in bonds, money market instruments, demand deposits, target funds (money market funds, near money market funds or bond funds) or derivatives. In order to minimize interest rate and credit risks, the fund management intends to invest in the bond portfolio mainly in securities with an investment grade rating and a low modified duration. Individual securities are analyzed and their risk/return profile is compared with other, similar bonds. The bond portfolio pursues a broad diversification in order to adequately diversify risks. The derivatives used are primarily exchange-listed options on major U.S. equity indices. By focusing on equity indices, individual security risks are diversified. The traded options generally have remaining terms of up to 6 months.