# Objectives and Investment Policy
### Investment Objective:

### The Fund aims to provide a total return on your investment over time.

### "Total Return" does not imply there is protection of capital or guarantee of a positive return over time. The Fund is subject to market risks at any time.

### Investment Policy:
The Fund will invest primarily in high and lower quality fixed income securities (a type of debt securities) or similar securities. The fixed income securities or similar securities invested in will be issued or guaranteed by governments, government related agencies or companies of emerging market countries. These companies will have their registered office in emerging market countries.

### The Fund may invest up to 10% of its assets in Chinese onshore bonds through the China Interbank Bond Market (CIBM).
The Fund may also invest up to 49% of its assets in securities that can be quickly and easily turned into cash. The Fund will only do this if it cannot find emerging market investments that meet the Fund's objective.

### The Fund may also invest up to 25% of its assets in convertible bonds, up to 10% of its assets in contingent convertible securities and up to 10% in other funds.

### The Fund is managed to provide a US Dollar return. The Fund’s primary currency exposure is to the US Dollar and emerging market currencies.
The Fund may also use derivatives for hedging or efficient portfolio management purposes (such as to manage risks or costs or to generate additional capital or income). Derivatives may also be embedded in other instruments used by the Fund.
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### The Fund may enter into securities lending transactions for up to 29% of its assets. However, this is not expected to exceed 25%.
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### Currency hedging is carried out in respect of the share class. The aim is to protect against exchange rate fluctuations between the share class currency EUR and the base currency of the Fund USD.
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The reference benchmark, shown in the past performance section, does not take account of currency hedging. There may be a greater difference between the past performance of the share class and the reference benchmark than for other share classes in the Fund.
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### The Fund is actively managed and does not track a benchmark. The reference benchmark for the Fund is Secured Overnight Financing Rate (SOFR).
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### Income is distributed.
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### You may sell your investment on most working days.
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### Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within a period of 5 years.

Translation (ENFR, 2022-05-25):
# Objectifs et politique d'investissement
### Objectif d’investissement :

### Le Fonds vise à dégager un rendement total sur votre investissement sur le long terme.

### Le terme « rendement total » n’implique ni la protection du capital ni la garantie d’un rendement positif à long terme. Le Fonds est à tout moment exposé aux risques du marché.

### Politique d’investissement :
Le Fonds investira principalement dans des titres à revenu fixe de bonne notation et de qualité inférieure (un type de titres de créance) ou des titres similaires. Les titres à revenu fixe ou les titres similaires en question seront émis ou garantis par des gouvernements, des agences gouvernementales ou des sociétés des pays émergents. Le siège social de chacune de ces sociétés sera dans des pays émergents.

### Le Fonds peut investir jusqu’à 10 % de ses actifs en obligations chinoises onshore par l’intermédiaire du Marché obligataire interbancaire chinois (CIBM).
Le Fonds peut également investir jusqu’à 49 % de ses actifs dans des titres qui peuvent être rapidement et facilement convertis en espèces. Le Fonds procèdera ainsi uniquement s’il n’est pas en mesure de trouver des investissements sur des marchés émergents qui répondent à son objectif d’investissement.

### Le Fonds peut également investir jusqu’à 25 % de ses actifs en obligations convertibles, jusqu’à 10 % en titres convertibles contingents et jusqu’à 10 % dans d’autres fonds.