Lazard Credit Fi SRI PVC EUR/  FR0010590950  /

The investment objective is to achieve, by applying a Socially Responsible Investment (SRI) management approach, over the recommended investment horizon of 3 years, a return (net of charges) above the following simple benchmark: 40% ICE BofA Euro Subordinated Financial Index , 40% ICE BofA Euro Financial High Yield Index , 20% ICE BofA Contingent Capital Hedged EUR Ind. The benchmark is expressed in EUR. debt or any securities not considered as ordinary shares issued by financial institutions. The investment process combines a top-down approach (strategic and geographical allocation approach) and a bottom-up approach (selection of investment vehicles on a fundamental basis after analysing the credit quality of issuers and the characteristics of the securities). The Fund invests only in bonds or securities issued by issuers whose registered office is in an OECD member country and/or in issues or securities listed on a stock exchange in one of these countries. To build his portfolio, the portfolio manager conducts his own analysis of the securities. He also refers to agency ratings but does not rely on them solely and mechanically. The Fund"s portfolio comprises: - up to a maximum of 100% of the net assets in securities issued by issuers in the Investment Grade category (rated as such by the rating agencies) or equivalent based on the management company"s analysis and, within a limit of 30% of the net assets, in bonds or securities issued by issuers in the speculative/High Yield category (rated as such by the rating agencies) or equivalent based on the management company"s analysis, or not rated by a rating agency. Speculative/High Yield bonds or securities may not exceed a maximum of 100% of the Fund"s net assets. - up to a maximum of 10% of the net assets in ordinary shares arising from a conversion or exchange of debt. - up to a maximum of 10% of the net assets in French or European money market, short-term money market or bond UCITS, provided that these funds themselves invest less than 10% of their assets in other UCIs. These UCIs may be managed by Lazard Frères Gestion, - up to 100% of the net assets in securities with embedded derivatives, - up to 30% of the net assets in contingent convertible bonds ("CoCos"), - up to 100% of the net assets in interest-rate and currency futures, interest-rate and currency options, interest-rate and currency swaps, credit derivatives (with CDS limited to a maximum of 40% of the net assets) and forward exchange contracts traded on regulated, over-the-counter or organised markets to hedge and/or expose the portfolio to interest rate and foreign exchange risk. Up to a maximum of 10%, the Fund may use equity futures and options. The modified duration is managed within a range of 0-8. The UCI promotes environmental and/or social characteristics within the meaning of Article 8 of Regulation (EU) 2019/2088, the "SFDR".

The investment objective is to achieve, by applying a Socially Responsible Investment (SRI) management approach, over the recommended investment horizon of 3 years, a return (net of charges) above the following simple benchmark: 40% ICE BofA Euro Subordinated Financial Index , 40% ICE BofA Euro Financial High Yield Index , 20% ICE BofA Contingent Capital Hedged EUR Ind. The benchmark is expressed in EUR.