Lazard Global Conv.Inv.Grade Fd.A d.H/  IE00BMW27S46  /

The Fund aims to maximise total return from income and capital growth. The Fund is actively managed and will primarily invest in convertible bonds (i.e. debt securities that are convertible into the equity securities of the issuer) which the Investment Manager has determined qualify as investment grade. Investment in unrated convertible bonds and/or other debt securities that are deemed by the Investment Manager to be of an equivalent rating to investment grade shall not in aggregate exceed 5% of the Fund's value. Investment in convertible bonds and/or other debt securities that qualify as or are deemed non-investment grade shall not in aggregate exceed 5% of the Fund's value. The Fund will also invest in investment grade, non- graded investments, unrated convertible bonds and/or debt securities (e.g. bonds) which are issued by companies, governments, government agencies, quasi sovereign bodies or supranational bodies (such as the World Bank) across the world. The Fund also has flexibility to invest up to 100% of its value in emerging markets. The Fund does not intend to invest directly in equities, however, the Fund may from time to time hold equity securities on an ancillary basis up to a limit of 10% of the value of the Fund. 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 may be hedged back into Euro, 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 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 aims to maximise total return from income and capital growth. The Fund is actively managed and will primarily invest in convertible bonds (i.e. debt securities that are convertible into the equity securities of the issuer) which the Investment Manager has determined qualify as investment grade. Investment in unrated convertible bonds and/or other debt securities that are deemed by the Investment Manager to be of an equivalent rating to investment grade shall not in aggregate exceed 5% of the Fund's value. Investment in convertible bonds and/or other debt securities that qualify as or are deemed non-investment grade shall not in aggregate exceed 5% of the Fund's value. The Fund will also invest in investment grade, non- graded investments, unrated convertible bonds and/or debt securities (e.g. bonds) which are issued by companies, governments, government agencies, quasi sovereign bodies or supranational bodies (such as the World Bank) across the world.