Lazard Scandinavian High Qu.Bd.Fd.BP/  IE00BKC5YC20  /

The Fund aims to achieve capital appreciation combined with a modest level of income. The Fund is actively managed and may invest in investment grade debt securities (e.g. bonds) issued or guaranteed by corporates, sovereigns, governments and quasi-governmental bodies in Scandinavian countries (i.e. Denmark, Finland, Iceland, Norway and Sweden) in local Scandinavian currencies, or in hard currencies (i.e. currencies of the G7 nations). Such securities will be either: (i) investment grade at the time of purchase, or (ii) may have no individual credit rating provided the issuer of such securities has an investment grade credit rating at the time of purchase. Where securities are downgraded at a later date, the Investment Manager may at its sole discretion continue to hold the downgraded securities. No more than 30% of its net assets will be invested in securities that are rated below investment grade. The Fund may also invest in debt securities issued or guaranteed by any other corporates, sovereigns, governments and quasi-governmental bodies provided the security is issued or denominated in the local Scandinavian currency. The individual selection of the securities will be determined by the Investment Manager"s assessment of credit quality of the issuers (i.e. the capacity of issuers to meet their obligations), nature and maturity of the instruments, and the relative value offered compared to instruments from comparable issuers.

The Fund aims to achieve capital appreciation combined with a modest level of income. The Fund is actively managed and may invest in investment grade debt securities (e.g. bonds) issued or guaranteed by corporates, sovereigns, governments and quasi-governmental bodies in Scandinavian countries (i.e. Denmark, Finland, Iceland, Norway and Sweden) in local Scandinavian currencies, or in hard currencies (i.e. currencies of the G7 nations). Such securities will be either: (i) investment grade at the time of purchase, or (ii) may have no individual credit rating provided the issuer of such securities has an investment grade credit rating at the time of purchase. Where securities are downgraded at a later date, the Investment Manager may at its sole discretion continue to hold the downgraded securities. No more than 30% of its net assets will be invested in securities that are rated below investment grade.