# HIGHLIGHTS
LO Funds - Convertible Bond Asia is an actively managed long-only convertible bond strategy focusing on Asia Pacific and launched in December 2008. It invests mainly in convertible bonds with a balanced profile from Asian issuers. 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 overall high quality portfolio).
NET CUMULATIVE PERFORMANCE AND ANNUAL PERFORMANCE IN USD 
Dec 31, 2016 - Sep 30, 2022
140
120
100
FROC	0.35%
80
Ongoing charge (30 September 2022)	1.18%
TER max (31 March 2022)	1.18%

## RISK AND REWARD PROFILE
-15.40% -16.18%
2017	2018	2019	2020	2021	2022
LO Funds - Convertible Bond Asia, (USD) M A / D	Annual or YTD performance (Fund)
Refinitiv Convertible Asia Ex-Japan USD	Annual or YTD performance (Bench.)
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

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.
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, 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.
Cumulative
Annualized
| CODES | Class A | Class D |
| --- | --- | --- |
| ISIN | LU0866415341 | LU0866415424 |
| Bloomberg | LOCBMAU LX | LOCBMDU LX |
| NAV | USD 16.07 | USD 15.96 |
| RATINGS |  |  |
| Morningstar Rating |  |  |

| NET PERFORMANCE IN USD | Fund | Bench. |  | Fund | Bench. |
| --- | --- | --- | --- | --- | --- |
| YTD | -15.40% | -16.18% |  | - | - |
| 1 month | -3.88% | -3.63% |  | - | - |
| 3 months | -6.14% | -7.28% |  | - | - |
| 1 year | -17.38% | -18.59% |  | - | - |
| 3 years | -1.28% | 4.14% |  | -0.43% | 1.35% |
| 5 years | -1.24% | 6.09% |  | -0.25% | 1.18% |
| 10 years | 15.58% | 35.10% |  | 1.45% | 3.04% |
| Total return (since 15.12.2008) | 60.67% | 120.21% |  | 3.48% | 5.87% |
| STATISTICS  30.09.2017 - 30.09.2022 | Fund | Bench. |  |  | Fund |
| Annualised volatility | 8.53% | 8.81% |  | Average rating | BBB |
| Sharpe ratio | -0.18 | -0.01 |  | Modified duration | 1.58 |
| Max. drawdown | -23.28% | -23.01% |  | Credit Spread Duration | 315.37 |
| Correlation |  | 0.971 |  | Rho (interest rate sensitivity) | -0.01% |
| Tracking error |  | 2.12% |  | Yield to maturity | 2.02% |
|  |  |  |  | Number of positions | 45 |
|  |  |  |  | Delta | 28.37% |
|  |  |  |  | Prime | 87.47% |
|  |  |  |  | Bond Floor | 96.36% |

Morningstar Category	EAA Fund Convertible Bond - Other

Translation (ENFR, 2022-09-30):
# POINTS CLÉS
LO Funds – Convertible Bond Asia est une stratégie long-only à gestion active axée sur les obligations convertibles de la région Asie-Pacifique et lancée en décembre 2008. Investissant principalement dans des obligations convertibles présentant un profil balancé d’émetteurs asiatiques, LO Funds – Convertible Bond Asia vise une performance asymétrique sur le moyen à long terme, tirant profit des redressements du marché des actions tout en bénéficiant de la protection à la baisse d’une structure obligataire dont la volatilité est inférieure à celle des actions. La philosophie d’investissement repose sur une recherche fondamentale et technique approfondie et associe une analyse économique
« top-down » à une sélection de titres « bottom-up ». Un volume d’émission minimal d’USD 150 millions est requis (pour des questions de liquidité) ainsi qu’une notation B- au minimum (signe de l’objectif de qualité supérieure visé pour le portefeuille dans son ensemble).
PERFORMANCE CUMULÉE ET PERFORMANCE ANNUELLE NETTES EN USD 
31 déc. 2016 - 30 sept. 2022
140
120
100
| FROC | 0.35% |  | -4.72% | -3.83% | -1.35% -4.39% |
| --- | --- | --- | --- | --- | --- |
| Ongoing charge (30 septembre 2022) TER max (31 mars 2022) | 1.18% 1.18% | 80 |  |  | -15.40% |

-16.18%

## PROFIL DE RISQUE
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

Faible	Elevé
Cet indicateur (SRRI) représente la volatilité annuelle historique du Compartiment sur une période de 5 ans. Lorsque les données disponibles portent sur moins de 5 ans, les rendements manquants sont simulés au moyen
2017	2018	2019	2020	2021	2022
LO Funds - Convertible Bond Asia, (USD) M A / D	Performance annuelle ou Année en cours (Fonds)
Refinitiv Convertible Asia Ex-Japan 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.
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 | LU0866415341 | LU0866415424 |
| Bloomberg | LOCBMAU LX | LOCBMDU LX |
| Valeur Liquidative | USD 16.07 | USD 15.96 |
| NOTATION |  |  |
| Morningstar Rating |  |  |

| PERFORMANCE NETTE EN USD | Fonds | Indice |  |  | Fonds | Indice |
| --- | --- | --- | --- | --- | --- | --- |
| Année en cours | -15.40% | -16.18% |  |  | - | - |
| 1 mois | -3.88% | -3.63% |  |  | - | - |
| 3 mois | -6.14% | -7.28% |  |  | - | - |
| 1 an | -17.38% | -18.59% |  |  | - | - |
| 3 ans | -1.28% | 4.14% |  |  | -0.43% | 1.35% |
| 5 ans | -1.24% | 6.09% |  |  | -0.25% | 1.18% |
| 10 ans | 15.58% | 35.10% |  |  | 1.45% | 3.04% |
| Perf. totale (depuis 15.12.2008) | 60.67% | 120.21% |  |  | 3.48% | 5.87% |
| STATISTIQUES  30.09.2017 - 30.09.2022 | Fonds | Indice |  |  |  | Fonds |
| Volat. annualisée | 8.53% | 8.81% |  | Note de crédit moyenne |  | BBB |
| Ratio de Sharpe | -0.18 | -0.01 |  | Duration modifiée |  | 1.58 |
| Baisse maximum | -23.28% | -23.01% |  | Credit Spread Duration |  | 315.37 |
| Corrélation |  | 0.971 |  | Rho (interest rate sensitivity) |  | -0.01% |
| Tracking Error |  | 2.12% |  | Rendement à l'échéance |  | 2.02% |
|  |  |  |  | Nombre de positions |  | 45 |
|  |  |  |  | Delta |  | 28.37% |
|  |  |  |  | Prime |  | 87.47% |
|  |  |  |  | Bond Floor |  | 96.36% |

Morningstar Category	EAA Fund Convertible Bond - Other