# HIGHLIGHTS
LO Funds - Convertible Bond is an actively managed long-only global convertible bond strategy launched in December 2002. It invests mainly in global convertible bonds with a balanced profile. It seeks to deliver asymmetrical performance over the medium to long-term, profiting from equity market upturns while benefiting from the downside protection of a fixed income structure with a fraction of the volatility of equities. The investment approach is based on in-depth fundamental and technical research and combines ‘top-down’ economic analysis with ‘bottom-up’ stock selection. Two final hurdles include a minimum issue size of USD 150 mn (for liquidity purposes) and a minimum credit rating of B- (reflecting the search for an investment grade quality for the portfolio).
NET CUMULATIVE PERFORMANCE AND ANNUAL PERFORMANCE IN USD 
Dec 31, 2016 - Aug 31, 2022
140 
120
100
| FROC | 0.35% |  |  |  |  |  | -11.52% -13.08% |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Ongoing charge (29 July 2022) | 1.07% | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| TER max (30 September 2021)	1.07% LO Funds - Convertible Bond, Syst. NAV Hdg, (USD) M A / D	Annual or YTD performance (Fund) Refinitiv Global Convertible Composite Hedged USD	Annual or YTD performance (Bench.) |


## RISK AND REWARD PROFILE
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

Low	High
This indicator (SRRI) represents the annualized historical volatility of the Sub- Fund over a 5-year period. Where there are less than 5 years worth of data,
Past performance does not predict future returns. Performances are displayed net of all costs except any entry and exit fees. Please refer to the cost section. Performance is subject to taxation which depends on the personal situation of each investor and may change in the future. Returns may increase or decrease as a result of currency fluctuations.
Benchmark composite (calculated by LOIM) of 2 Thomson Reuters Convertible Indices: 2/3 Thomson Reuters Global Focus hedged and 1/3 Thomson Reuters Global Focus IG hedged, previously known as UBS.
missing returns are simulated using an appropriate benchmark. The SRRI may change over time and should not be used as an indicator of future risk or returns. Even the lowest risk classification does not imply that the Sub-Fund is risk-free or that capital is necessarily guaranteed or protected.
CODES		
Class A		Class D ISIN	LU0988721758	LU0988727797
Bloomberg	LCSHUMA LX	LCSHUMD LX WKN		A1W77J		A1W77K
NAV	USD 12.58	USD 28.86

## FISCAL INFORMATION
DE - Investment-steuergesetz (InvStG)	Other Funds
|  | Correlation | 0.977 |  | Yield to maturity | -0.72% |
| --- | --- | --- | --- | --- | --- |
| Morningstar Rating |  | Tracking error | 1.79% |  | Delta | 49.50% |
|  |  |  |  |  | Prime | 54.19% |
|  |  |  |  |  | Bond Floor | 85.58% |


## RATINGS
Cumulative 
NET PERFORMANCE IN USD		
Fund		Bench. 
YTD	-11.52%	-13.08%
1 month	-0.87%	-0.44%
3 months	-1.16%	-1.53%
1 year	-13.67%	-15.28%
3 years	3.72%	6.18%
5 years	9.00%	10.07%
10 years	41.10%	44.68%
Total return (since 02.04.1987)	524.50%	-
STATISTICS 
31.08.2017 - 31.08.2022	
Fund	Bench.
Annualised volatility	7.76%	8.29%
Sharpe ratio	0.060.08
Max. drawdown	-17.56%	-18.69%
Annualized Fund	Bench.
-	-
-	-
-	-
-	-
1.22%	2.01%
1.73%	1.93%
3.49%	3.75%
5.29%	-
Fund
Credit Spread Duration196.85
Rho (interest rate sensitivity)	-0.02% Number of positions136

Translation (ENFR, 2022-08-31):
# POINTS CLÉS
LO Funds - Convertible Bond est un portefeuille suivant une gestion active. Sa stratégie d'investissement «long-only» en obligations convertibles mondiales depuis décembre 2002. Il investit principalement dans des obligations convertibles au profil équilibré. Il vise à générer une performance asymétrique sur le moyen à long terme, tirant profit des gains des marchés actions tout en bénéficiant de la protection de la structure obligataire lors de baisses, le tout assortie d'une fraction de la volatilité des actions. L'approche d'investissement repose sur une recherche fondamentale et technique approfondie qui combine analyse économique « top-down » et sélection de titres « bottom-up ». Un volume d’émission minimal de USD 150 millions est requis pour des raisons de liquidité ainsi qu'une notation minimale de B-, en raison de l'objectif de qualité « investment grade » du portefeuille.
PERFORMANCE CUMULÉE ET PERFORMANCE ANNUELLE NETTES EN USD 
31 déc. 2016 - 31 août 2022
140 
120
100
-11.52% -13.08%
2017	2018	2019	2020	2021	2022
LO Funds - Convertible Bond, Syst. NAV Hdg, (USD) M A / D	Performance annuelle ou Année en cours (Fonds) Refinitiv Global Convertible Composite Hedged USD	Performance annuelle ou Année en cours (Indice)
La performance passée ne prédit pas les rendements futurs. Les Performances sont affichées hors de tous les coûts, et honoraires d'entrée et de sortie. La Performance est sujette au régime fiscal et peut changer dans le futur. Les Rendements peuvent augmenter ou diminuer à la suite de variations des taux de change.
Indice de référence (calculé par LOIM) composé de 2 indices Thomson Reuters Convertible: 2/3 Thomson Reuters Global Focus couvert et 1/3 Thomson Reuters Global Focus IG couvert, précédemment connu sous le nom UBS.
| PERFORMANCE NETTE EN USD | Fonds | Indice |  |  | Fonds | Indice |
| --- | --- | --- | --- | --- | --- | --- |
| Année en cours | -11.52% | -13.08% |  |  | - | - |
| 1 mois | -0.87% | -0.44% |  |  | - | - |
| 3 mois | -1.16% | -1.53% |  |  | - | - |
| 1 an | -13.67% | -15.28% |  |  | - | - |
| 3 ans | 3.72% | 6.18% |  |  | 1.22% | 2.01% |
| 5 ans | 9.00% | 10.07% |  |  | 1.73% | 1.93% |
| 10 ans | 41.10% | 44.68% |  |  | 3.49% | 3.75% |
| Perf. totale (depuis 02.04.1987) | 524.50% | - |  |  | 5.29% | - |
| STATISTIQUES  31.08.2017 - 31.08.2022 | Fonds | Indice |  |  |  | Fonds |
| Volat. annualisée | 7.76% | 8.29% |  | Credit Spread Duration |  | 196.85 |
| Ratio de Sharpe | 0.06 | 0.08 |  | Rho (interest rate sensitivity) |  | -0.02% |
| Baisse maximum | -17.56% | -18.69% |  | Nombre de positions |  | 136 |
| Corrélation |  | 0.977 |  | Rendement à l'échéance |  | -0.72% |
| Tracking Error |  | 1.79% |  | Delta |  | 49.50% |
|  |  |  |  | Prime |  | 54.19% |
|  |  |  |  | Bond Floor |  | 85.58% |

d'un indice de référence approprié. Le SRRI peut évoluer au fil du temps et ne doit pas servir d’indicateur des futurs risques ou rendements. Même la catégorie de risque la plus faible n’implique pas que le Compartiment est dénué de risques ou que le capital est nécessairement garanti ou protégé.
Cumulée
Annualisée
| CODES | Classe A | Classe D |
| --- | --- | --- |
| ISIN | LU0988721758 | LU0988727797 |
| Bloomberg | LCSHUMA LX | LCSHUMD LX |
| Valeur Liquidative | USD 12.58 | USD 28.86 |
| NOTATION |  |  |
| Morningstar Rating |  |  |