Category: Open Ended Investment Company

The investment objective of the Fund is to seek to maximise risk-adjusted total returns by maximising total returns (from income and capital) relative to the volatility of those returns, over the medium to long term. It is the policy of the Fund to achieve its investment objective by investment, through long (positive) and/or short (negative) exposure, to bond, debt, and currency instruments in markets worldwide which may at the discretion of the Investment Manager include significant investment in emerging markets. A majority of the Fund’s total assets will be invested in sovereign and sovereign-related bond, debt and currency instruments in either developed or emerging market countries. Sovereign and sovereign-related instruments include those issued or guaranteed not only by supranational entities, national governments and local governments, but also by entities controlled or owned by national and local governments. The Fund may invest directly or use derivatives. You should note that: The Fund invests in bond, debt, and currency instruments worldwide of which a significant proportion may be in emerging markets. The Fund has no explicit benchmark, but a combination of developed market and emerging market government bond indices will be used as a comparison for performance purposes. The Fund’s objective is to maximise risk-adjusted returns. In order to achieve this the Fund may, at times, hold a substantial portion in cash. The Fund may engage in transactions in financial derivative instruments for efficient portfolio management, investment or hedging purposes. The Fund will invest in bonds of varying creditworthiness including Investment Grade, sub-Investment Grade and unrated instruments, denominated in any currency worldwide. There can be no guarantee that the Fund will achieve its investment objective. This Fund should be viewed as a medium to long term investment and may not be appropriate for investors who plan to withdraw their money within 5 years. The Fund has only Accumulating share classes. The Accumulating Shares do not pay dividends and any income arising is retained in the Fund and reflected in the price of the Shares. The Fund’s shares can be bought from, and sold back to, the Fund on any business day in Ireland. Please refer to the Prospectus and relevant Fund Supplement for more detailed information.