FISCH BOND GLOBAL HIGH YIELD FUND Aktienklasse AE2 (EUR)/  LU1039931131  /

The subfund is managed actively and invests in debt instruments that qualify as undervalued based on a systematic top-down approach. The investments range from high yield securities of low quality to investment grade securities (including government bonds). The investment objective of the subfund is capital growth of the investments. The Sub-fund pursues an dynamic strategy. Compared with a defensive strategy, an dynamic strategy accepts a higher risk and aims for a higher return accordingly. The subfund may invest up to 30% of its assets in convertible bonds and similar convertible securities. Up to 20% of its assets may be invested in distressed securities. Securities are deemed distressed securities when the interest payments have been discontinued and the market price of the debt security is below 40% of the repayment price. The subfund may use derivatives for efficient portfolio management and for hedging purposes.

The subfund is managed actively and invests in debt instruments that qualify as undervalued based on a systematic top-down approach.