Lazard Rathmore Alternat.F.A Acc USD/  IE00BG1V1444  /

The Fund aims to achieve absolute returns through a combination of capital appreciation and income over a three year market cycle. The Fund is actively managed and seeks to achieve its objective by generating returns through the exploitation of anomalies across the capital structure of various entities. Absolute returns will be generated by the Fund by pursuing an investment strategy which consists of two relative substrategies: (i) capital structure and convertible arbitrage, and (ii) special situations/event driven investing. The Fund may invest in a wide range of investments and asset classes, either directly or by using derivatives, namely: unfunded swaps (whereby the Fund derives economic benefit from exposure to a notional portfolio of assets) and credit default swaps, convertible securities (securities with the option of converting into stock on certain conditions at a certain price/time), derivatives (financial contracts whose value is linked to the price of an underlying investment), investment grade, non-investment grade and unrated corporate and government bonds, global currencies and interest rates, exchange traded notes (unsecured or unsubordinated debt instruments that are traded on different exchanges), preferred stocks, and global equities and warrants in companies. The Fund may invest more than 20% of its value in emerging markets. 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 between 200% - 800% of the value of the Fund and will not exceed 1200%. The Fund may also speculate on the price of an underlying investment falling or rising. For example, the Fund may speculate that the value of an asset will fall, and may take what is known as a 'short' position, either by selling the investment in advance of acquiring it at a lower price, or by using a derivative contract which will generate a return should the investment fall in value. The Fund has discretion as to which investments it will hold within the limits of the Investment Objective and Policy.

The Fund aims to achieve absolute returns through a combination of capital appreciation and income over a three year market cycle. The Fund is actively managed and seeks to achieve its objective by generating returns through the exploitation of anomalies across the capital structure of various entities. Absolute returns will be generated by the Fund by pursuing an investment strategy which consists of two relative substrategies: (i) capital structure and convertible arbitrage, and (ii) special situations/event driven investing. The Fund may invest in a wide range of investments and asset classes, either directly or by using derivatives, namely: unfunded swaps (whereby the Fund derives economic benefit from exposure to a notional portfolio of assets) and credit default swaps, convertible securities (securities with the option of converting into stock on certain conditions at a certain price/time), derivatives (financial contracts whose value is linked to the price of an underlying investment), investment grade, non-investment grade and unrated corporate and government bonds, global currencies and interest rates, exchange traded notes (unsecured or unsubordinated debt instruments that are traded on different exchanges), preferred stocks, and global equities and warrants in companies.