Lazard Gl.Sust.Fixed Income F.BP Dis USD/  IE00BF5L2R30  /

The Fund aims to seek maximum total return from a combination of income and capital appreciation. The Fund is actively managed and may invest in investment grade, non-investment grade and unrated debt securities (e.g. bonds), issued by corporates, sovereigns, governments and quasi-governmental bodies throughout the world. Such securities will primarily be investment grade, but the Investment Manager may seek to enhance returns and diversify risk by tactically investing in securities which are non-investment grade or unrated. A maximum of 15% of the Fund's net assets may be invested in debt instruments which are non-investment grade or unrated. The individual selection of securities will be determined by the Investment Manager's active assessment of macroeconomic factors, such as global interest rates, currency exposure, sector spreads and currencies. The Fund may invest more than 20% of its assets in emerging markets. The Fund may gain exposure to the asset classes above either by investing in them directly, or by using derivatives (which are financial contracts whose value is linked to the price of an underlying investment). The currency exposures of the Fund's portfolio will be substantially hedged back into US Dollars, being the base currency of the Fund. As a result of its use of derivatives, the Fund may be 'geared' or 'leveraged' (which can lead to a proportionately much larger movement in the value of the Fund's assets). The expected level of the Fund's leverage (as measured by the gross notional value of all derivatives positions) will be 100% of the value of the Fund. The Fund has discretion as to which investments it will hold within the limits of the Investment Objective and Policy. The Fund's performance is measured against the performance of Bloomberg Global Aggregate Bond Index (the "Benchmark"), which the Investment Manager has assessed to be the most appropriate Benchmark for measuring performance. The performance of the Fund seeks to exceed the Benchmark performance. The Fund is not constrained by the Benchmark, as it has flexibility to invest in securities and asset classes not included in the Benchmark.

The Fund aims to seek maximum total return from a combination of income and capital appreciation. The Fund is actively managed and may invest in investment grade, non-investment grade and unrated debt securities (e.g. bonds), issued by corporates, sovereigns, governments and quasi-governmental bodies throughout the world. Such securities will primarily be investment grade, but the Investment Manager may seek to enhance returns and diversify risk by tactically investing in securities which are non-investment grade or unrated. A maximum of 15% of the Fund's net assets may be invested in debt instruments which are non-investment grade or unrated. The individual selection of securities will be determined by the Investment Manager's active assessment of macroeconomic factors, such as global interest rates, currency exposure, sector spreads and currencies.