Multi Manager Access II - High Yield, Klasse EUR-hedged F-UKdist/  LU1344275232  /

The investment objective of the actively managed sub-fund is to seek long-term real returns. No guarantee can be given that this investment objective will be achieved. The portfolio managers intend to pursue the investment objective of the sub-fund by investing primarily in high-yield fixed income instruments via managed accounts or in UCITS or other UCIs. The majority of the fixed income investments held by the sub-fund in Dedicated Portfolios will be components of the Reference Benchmark Index, a composite of 60% ICE BofA Merrill Lynch US High Yield Constrained Index and 40% ICE BofA Merrill Lynch Euro High Yield Constrained Index. The investment strategy will significantly restrict the extent to which the duration, sector and country exposure of the subfund may deviate from the Reference Benchmark Index. The investment strategy does not restrict the weightings of the fixed income investments relative to the Reference Benchmark Index, meaning the portfolio composition of the sub-fund may deviate significantly from the Reference Benchmark Index. The Portfolio Managers may use their discretion to invest in fixed income investments not included in the Reference Benchmark Index in order to take advantage of specific investment opportunities. Therefore, the performance of the sub-fund may strongly diverge from the Reference Benchmark Index during periods of higher market volatility. For liquidity purposes, the sub-fund may also hold money market instruments, cash or cash equivalents.The portfolio managers may also employ derivatives in achieving the investment objective of the sub-fund.

The investment objective of the actively managed sub-fund is to seek long-term real returns. No guarantee can be given that this investment objective will be achieved. The portfolio managers intend to pursue the investment objective of the sub-fund by investing primarily in high-yield fixed income instruments via managed accounts or in UCITS or other UCIs.