Flossbach von Storch - Bond Defensive I/  LU0952573052  /

The objective of the investment policy of the Flossbach von Storch - Bond Defensive (the "sub-fund") is to achieve reasonable growth while taking into consideration the risk involved for the investors. To achieve the investment objectives, the sub-fund assets are invested in accordance with the principle of risk diversification in interest-bearing securities of all types (including corporate bonds, zero coupon bonds, inflation-linked bonds, variable-interest securities), money market instruments, fixed-term deposits, derivatives and cash. The sub-fund does not invest in equities, either directly or indirectly. The sub-fund does not invest in subordinated or convertible bonds or in high-yield bonds (bonds without an investment grade rating). The duration of the sub-fund should not exceed four years. The subfund can acquire assets in foreign currencies and can therefore have a foreign currency exposure. The aim is to hedge the foreign currency exposure of the fund by means of currency derivatives, depending on the market situation, the net foreign currency exposure of the fund may fluctuate within a range of between -5 per cent and +5 per cent. Units in UCITS and other UCI ("target funds") may not be acquired. The use of derived financial instruments ("derivatives") is planned in order to achieve the aforementioned investment objectives, as well as for investment and hedging purposes. The sub-fund is actively managed. No index is used for comparison purposes

The objective of the investment policy of the Flossbach von Storch - Bond Defensive (the "sub-fund") is to achieve reasonable growth while taking into consideration the risk involved for the investors. To achieve the investment objectives, the sub-fund assets are invested in accordance with the principle of risk diversification in interest-bearing securities of all types (including corporate bonds, zero coupon bonds, inflation-linked bonds, variable-interest securities), money market instruments, fixed-term deposits, derivatives and cash. The sub-fund does not invest in equities, either directly or indirectly. The sub-fund does not invest in subordinated or convertible bonds or in high-yield bonds (bonds without an investment grade rating).