# Objective and Investment Policy
### The Sub-Fund is a financial product that promotes ESG characteristics pursuant to Article 8 of the Disclosure Regulation.
To provide a participation in financial markets evolution while also providing permanent partial protection of your investment over the recommended holding period. Specifically, the Sub-Fund is designed to ensure that its share price does not fall below 90% of the highest net asset value recorded from 5 June 2020.
The Sub-Fund may invest between 0% and 100% of net assets in equities, bonds, convertible bonds, deposits and money market instruments, and in UCITS/UCIs that may be exposed to a broad range of asset classes, including those named above as well as currencies, emerging markets securities, commodities, real estate, etc.

### The Sub-Fund may invest up to 30% of net assets in below investment-grade bonds (high-yield bonds).
The Sub-Fund makes use of derivatives to reduce various risks, for efficient portfolio management and as a way to gain exposure (long or short) to various assets, markets or other investment opportunities (including derivatives which focus on credit, equities, interest rates, and foreign exchange).
Benchmark : The Sub-Fund is actively managed, is not managed in reference to a benchmark and has not designated a reference benchmark for the purpose of the Disclosure Regulation. Management Process : The Sub-Fund integrates Sustainability Factors in its investment process as outlined in more detail in section "Sustainable Investment" of the Prospectus. The investment team pursues a dynamic capital-preservation strategy, in which assets are reallocated constantly between the growth component and the conservative component, depending on the investment team's analysis of market factors. The Sub-Fund seeks to achieve an ESG score of its portfolio greater than that of its investment universe.

### Guarantor : Amundi S.A.
The protection is granted by the Guarantor to the Sub-Fund for shareholders regardless of the subscription date and the redemption date of their shares for an initial period of five years and tacitly renewed for successive further periods of one year.

Translation (ENFR, 2021-09-30):
# Objectif d'investissement
Assurer une participation à l’évolution des marchés financiers tout en assurant une protection partielle permanente de votre placement sur la période de détention recommandée. Plus particulièrement, le Compartiment est conçu pour éviter que le cours de son action tombe en deçà de 90 % de sa valeur liquidative la plus élevée enregistrée à compter du 5 juin 2020.
Le Compartiment peut investir de 0 à 100 % de son actif net en actions, obligations, obligations convertibles, dépôts et instruments du marché monétaire, ainsi qu’en OPCVM/OPCV susceptibles d’être exposés à une large gamme de catégories d’actifs, y compris, outre les susmentionnés, les devises, les titres de marchés émergents, les matières premières, l’immobilier, etc.

#### Le Compartiment peut investir jusqu’à 30 % de son actif net en obligations de qualité inférieure à investment grade (obligations haut rendement).
Le Compartiment a recours à des instruments dérivés à des fins de réduction de différents risques, de gestion efficace de portefeuille et d’exposition (à court terme ou à long terme) à différents actifs, marchés et autres opportunités d’investissement (y compris instruments dérivés axés sur le crédit, les actions, les taux d’intérêt et le change).
L’équipe d’investissement adopte une stratégie dynamique de préservation du capital consistant en une réallocation constante des actifs entre le composant croissance et le composant prudence, en fonction de son analyse des marchés.