Pictet International Capital Management - Investment Grade A/  LU1789176416  /

The objective of the Sub-Fund is to enable investors to participate in capital growth over the medium to long term by allocating assets to achieve global exposure to fixed income and debt instruments. To achieve its objective, the Sub-Fund will invest at least 75% of its assets in debt securities with an investment grade rating as issued by recognized rating agencies or considered equivalent by the Managers. The Sub-Fund does not intend to invest in Distressed Debt Securities or Defaulted Debt Securities. The Sub-Fund may also invest up to 25% in other eligible assets such as transferable securities, other debt securities (including money market instruments), eligible UCIs, convertible bonds (including Contingent Convertible Bonds), deposits and cash. The Sub-Fund may invest in the above-mentioned assets within the following limits: - Investments in eligible UCIs (and/or UCITS) will be limited to 10% of the net assets, - Non-investment grade investments will be limited to 10% of the net assets. In the event of a difference in rating, the highest will be taken into consideration, - Investments in convertible bonds (including Contingent Convertible Bonds) will be limited to 10% of net assets. The choice of investments will not be limited to a geographical area (including emerging countries), to a particular economic sector or to a particular currency. However, depending on market conditions, investments may be focused on a single country or a limited number of countries and/or an economic sector and/or a currency.

The objective of the Sub-Fund is to enable investors to participate in capital growth over the medium to long term by allocating assets to achieve global exposure to fixed income and debt instruments.