The fund aims to provide a combination of capital growth and income to deliver a return based on exposure to optimal income streams in investment markets. Core investment: The fund is a flexible fund where at least 50% will be invested in bonds. The fund invests in bonds issued by governments or companies in developed markets or emerging markets. The investment manager has the freedom to invest across a broad range of bonds (such as government bonds, investment grade corporate bonds, high yield corporate bonds, unrated bonds and asset-backed securities), in any currency, wherever the greatest opportunities can be found. Other investment: The fund may invest up to 20% in company shares when the investment manager believes that a company’s shares offer a better return than its bonds. The fund may also hold cash and assets that can be turned quickly into cash. Use of derivatives: The fund invests directly and indirectly through derivatives. Derivatives may also be used to manage risks and reduce costs, as well as to offset the impact of currency exposures arising from the fund’s non-euro investments. Derivatives may also be used to generate market leverage (in other words, gain exposure to investment exceeding the value of the fund). For more information on the types of bonds held and derivatives used, please refer to the Prospectus, which can be found by visiting www.mandg.lu/ literature Strategy in brief: The investment manager selects investments based on an assessment of a combination of macroeconomic, asset, sector and stock-level factors. Spreading investments across issuers and industries is an essential element of the fund’s strategy and the manager is assisted in the selection of individual bonds by an in-house team of analysts. Performance comparator: The fund is actively managed. A composite index comprising 1/3 Bloomberg Barclays Global Aggregate Corporate Index EUR Hedged, 1/3 Bloomberg Barclays Global High Yield Index EUR Hedged and 1/3 Bloomberg Barclays Global Treasury Index EUR Hedged is a point of reference against which the performance of the fund may be measured. The fund may bear little resemblance to this composite index as it only represents the neutral position of the fund. Glossary terms Asset-backed securities: Bonds backed by assets that produce cashflows, such as mortgage loans, credit card receivables and auto loans. Bonds: Loans to governments and companies that pay interest. Derivatives: Financial contracts whose value is derived from other assets. High yield bonds: Bonds issued by companies considered to be riskier and therefore generally paying a higher level of interest. Investment grade corporate bonds: Bonds issued by a company with a medium or high credit rating from a recognised credit rating agency. They are considered to be at lower risk from default than those issued by companies with lower credit ratings.