Pictet International Capital Management - Vaultinvest/  LU2256974937  /

The objective of the Sub-Fund is to enable investors to generate income over the medium to long term by allocating assets to achieve global exposure through a diversified portfolio. In order to achieve its objectives, the Sub-Fund will mainly offer exposure to equities and equity-linked securities (including, among others, convertible andreverse convertible bonds, ADRs (American Depositary Receipt) and GDRs (Global Depositary Receipt) and closed Real Estate Investment Trusts (REITs)), and to debt securities of all types (including fixed or floating rate securities, zero coupon bonds, government or corporate bonds). The allocation between the two asset classes will vary according to market conditions and the managers' choices. These exposures will be achieved by investing directly in the assets listed above, in UCIs (and/or UCITS), and in securities. The management fees of the target funds will not exceed 3% of their net assets on an annual basis. The choice of investments will not be limited to a geographical sector (the Sub-Fund may invest in emerging countries), to a particular sector of economic activity or to a given currency. However, depending on market conditions, investments may be focused on a single country and/or economic sector and/or currency. The Sub-Fund will not invest in ABS and MBS. The Sub-Fund may be exposed to investments in investment grade debt, non-investment grade debt and unrated securities. Investments in distressed and defaulted securities, contingent convertible securities, and unrated securities will each be limited to 10% of net assets. The Sub-Fund may also invest up to 10% of its net assets in structured products on precious metals.

The objective of the Sub-Fund is to enable investors to generate income over the medium to long term by allocating assets to achieve global exposure through a diversified portfolio. In order to achieve its objectives, the Sub-Fund will mainly offer exposure to equities and equity-linked securities (including, among others, convertible andreverse convertible bonds, ADRs (American Depositary Receipt) and GDRs (Global Depositary Receipt) and closed Real Estate Investment Trusts (REITs)), and to debt securities of all types (including fixed or floating rate securities, zero coupon bonds, government or corporate bonds). The allocation between the two asset classes will vary according to market conditions and the managers' choices.