Category: Open Ended Investment Company

OBJECTIVE To achieve a superior total return from a portfolio of bond and other debt instruments, including derivatives thereon, from emerging markets. POLICY The Fund will: invest in emerging markets; invest in government bonds and similar debt investments issued by a well diversified group of emerging market countries and denominated in their respective local currencies; invest in bonds with high and low credit ratings (i.e. investment grade and sub-investment grade bonds without restrictions on credit quality as rated by Standard and Poor's or similar agencies); invest in derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of generating returns and reducing the overall costs and/or risks of the Fund; and limit investment in other collective investment schemes to 10%. The Fund may: invest in bonds and similar debt investments issued by companies (i.e. corporate bonds) and other entities; and invest up to 20% of its Net Asset Value in securities listed or traded on Russian markets. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing: you can buy and sell your shares in the Fund between 9:00 and 17:00 (Irish time) on each working day in Ireland. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is EUR 5,000.