Wellington Gl.H.Y.Bd.Fd.S EUR H/  IE00B28HXJ67  /

The Fund seeks long-term total returns. The Fund will be actively managed seeking to outperform the ICE BofA Global High Yield Constrained Index (the "Index"), investing primarily in debt securities worldwide which are considered by the Investment Manager to be below investment grade. The largest issuers are capped at 2% of the weight of the total Index with the excess weight redistributed equally amongst the issuers under that cap. The Fund's investment approach is based on the analysis of the credit profile of individual high yield issuers, as well as the macro and micro environment for high yield bonds. The Investment Manager mainly focuses on finding high conviction credit research ideas which are complemented by top-down analysis (making investment decisions based on the analysis of the economy as a whole). The Investment Manager looks to construct a portfolio that is well-diversified by industry but also able to take advantage of favourable secular or cyclical industry trends. Analysis will also include a geographical view, which will identify the regions they wish to invest large or small amounts in. The Fund is subject to a strong focus on risk, which is actively managed at the security, sector and total portfolio level, with the objective of generating strong risk-adjusted returns in a wide variety of market environments. The Investment Manager may use foreign exchange and related derivative instruments to hedge currency. Debt securities may be denominated in a wide range of currencies.

The Fund seeks long-term total returns. The Fund will be actively managed seeking to outperform the ICE BofA Global High Yield Constrained Index (the "Index"), investing primarily in debt securities worldwide which are considered by the Investment Manager to be below investment grade. The largest issuers are capped at 2% of the weight of the total Index with the excess weight redistributed equally amongst the issuers under that cap.