## Objectives
Objective : The objective of this Product is to outperform its benchmark by managing a portfolio of fixed income securities convertible into stock of companies domiciled in European countries or exercising a preponderant part of their economic activity in that region.
Benchmark index: The benchmark index of the Product is the Refinitiv Europe Focus Hedged Convertible Bond Index (USD), calculated with net dividends reinvested. The Product is actively managed. The benchmark index is used for performance comparison purposes only.
Investment policy: The Investment Manager will systematically include environmental, social and governance (ESG) factors in their financial analysis in order to select the highest-rated companies. At least 90% of portfolio companies receive ESG rating. The selection process includes a positive screening by selecting through a best in universe approach and a negative screening, whereby the Investment Manager has established a formal exclusion policy that integrates the exclusion of controversial companies related to weapon, coal and tobacco. Further details on the responsible investing approach applied on the Product can be found on the Investment Manager website: https://www.edmond-de-rothschild.com/en/Pages/Responsible-investment.aspx.
The Product Classifies as Article 8(1) SFDR as it promotes a combination of ESG characteristics, although no reference benchmark has been designated for the purpose of attaining the environmental or social characteristics.
In view of its ESG strategy, the Product promotes environmental characteristics but does not invest in environmentally sustainable economic activities. The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities, in the context of the Taxonomy Regulation.
The Product will invest a minimum of 60% of its net assets fixed income securities convertible into stocks of companies domiciled in Europe or exercising a preponderant part of their economic activity in that region.
The Product will invest up to 110% of its net assets in “investment grade” as well as in “non-investment grade” issues. Any debt security may be subject to the risk of being downgraded to a lower credit rating but in any case the Product’s maximum investment in distressed securities will be limited to a maximum of 5% of its net assets.
The Product may invest up to 25% of its net assets in non-Convertible transferable debt securities. The Product may use financial derivative instruments to achieve its investment objective.
In order to meet its investment objective and gain exposure to international equity or interest rate markets, the Product may invest up to 110% of its net assets in Transferable Securities containing an embedded derivative.
The net exposure of the Product to equity markets may vary between 20% and 80%.
A USD H units are systematically and fully hedged against EUR/US dollar currency risk via forward currency contracts, swaps or currency options.
Income allocation: Accumulation

Translation (ENFR, 2023-01-16):
## Objectifs
Objective : The objective of this Product is to outperform its benchmark by managing a portfolio of fixed income securities convertible into stock of companies domiciled in European countries or exercising a preponderant part of their economic activity in that region.
Benchmark index: The benchmark index of the Product is the Refinitiv Europe Focus Hedged Convertible Bond Index (USD), calculated with net dividends reinvested. The Product is actively managed. The benchmark index is used for performance comparison purposes only.
Investment policy: The Investment Manager will systematically include environmental, social and governance (ESG) factors in their financial analysis in order to select the highest-rated companies. At least 90% of portfolio companies receive ESG rating. The selection process includes a positive screening by selecting through a best in universe approach and a negative screening, whereby the Investment Manager has established a formal exclusion policy that integrates the exclusion of controversial companies related to weapon, coal and tobacco. Further details on the responsible investing approach applied on the Product can be found on the Investment Manager website: https://www.edmond-de-rothschild.com/en/Pages/Responsible-investment.aspx.
The Product Classifies as Article 8(1) SFDR as it promotes a combination of ESG characteristics, although no reference benchmark has been designated for the purpose of attaining the environmental or social characteristics.
In view of its ESG strategy, the Product promotes environmental characteristics but does not invest in environmentally sustainable economic activities. The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities, in the context of the Taxonomy Regulation.
The Product will invest a minimum of 60% of its net assets fixed income securities convertible into stocks of companies domiciled in Europe or exercising a preponderant part of their economic activity in that region.
The Product will invest up to 110% of its net assets in “investment grade” as well as in “non-investment grade” issues. Any debt security may be subject to the risk of being downgraded to a lower credit rating but in any case the Product’s maximum investment in distressed securities will be limited to a maximum of 5% of its net assets.
The Product may invest up to 25% of its net assets in non-Convertible transferable debt securities. The Product may use financial derivative instruments to achieve its investment objective.
In order to meet its investment objective and gain exposure to international equity or interest rate markets, the Product may invest up to 110% of its net assets in Transferable Securities containing an embedded derivative.
The net exposure of the Product to equity markets may vary between 20% and 80%.
A USD H units are systematically and fully hedged against EUR/US dollar currency risk via forward currency contracts, swaps or currency options.
Income allocation: Accumulation