# What are the risks and what could I get in return?
Some of the Underlying Funds may invest in investment grade bonds and high yield bonds of governmental, supranational and corporate issuers, and other fixed-income securities.
Intended retail investor
The fund is actively managed and particularly suitable for investors seeking exposure through a fund of funds structure and current income and conservation of principal mainly through investments in bonds. As investments carry a risk of loss, an investor should have a basic knowledge of financial instruments to understand related risks, which are defined in the fund's 'What are the risks and what could I get in return?' section. The fund is appropriate for investors with a medium to long-term investment horizon and does not require prior experience with PRIIPs or similar investments.
The fund is actively managed and without any constraints to a benchmark index. Any information in relation to an index is provided for the purposes of risk management, context and illustration only.
You can choose to redeem your investment at any time prior to the recommended holding period. Details of the procedure for doing so can be found in the fund's prospectus.
The fund has no maturity date. The PRIIP manufacturer is not entitled to terminate the PRIIP unilaterally. Investors in the fund may buy and sell shares on any dealing day (as defined in the Prospectus). If you invest in a distributing share class, income from investments will be paid out to you. If you invest in an accumulating share class, income will be re- invested.
Depositary
J.P. Morgan SE - Luxembourg Branch
Risk indicator
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

!
Lower risk	Higher risk
The risk indicator assumes you keep the product for 5 years.
The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
We have classified this product as 2 out of 7, which is a low risk class.
This figure rates the likelihood of losing money in the future, based on the Net Asset Value of this Share Class over the last ten years as a low risk.
Be aware of currency risk. If you select a foreign currency share class, you will be exposed to currency risk, receive payments in a different currency to your local currency and your final return will depend on the exchange rate between these two currencies. This risk is not considered in the indicator shown above.
Investments in the fund are subject to general investment risks, such as market, counterparty and liquidity risks. Any specific risks to this fund are detailed in the prospectus.
This product does not include any protection from future market performance so you could lose some or all of your investment.

Translation (ENFR, 2023-02-22):
# Quels sont les risques et qu’est-ce que cela pourrait me rapporter ?
Risk indicator
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

!
Risque le plus faible	Risque le plus élevé L'indicateur de risque suppose que vous détenez le produit pendant 5 ans.
L'indicateur synthétique de risque est un indicateur du niveau de risque de ce produit par rapport à d'autres produits. Il montre la probabilité que
le produit perde de l'argent en raison de mouvements sur les marchés ou parce que nous ne sommes pas en mesure de vous payer.
Nous avons classé ce produit comme 2 sur 7, ce qui correspond à une classe de risque faible.
Ce chiffre évalue la probabilité de perdre de l'argent à l'avenir, sur la base de la Valeur nette d'inventaire de cette Classe d'actions au cours des dix dernières années, comme un risque faible.
Ayez conscience du risque de change. Si vous sélectionnez une classe d'actions en devise étrangère, vous serez exposé au risque de change, recevrez des paiements dans une devise différente de votre devise locale et votre rendement final dépendra du taux de change entre ces deux devises. Ce risque n'est pas pris en compte dans l'indicateur présenté ci-dessus.
Les investissements dans le Fonds sont soumis à des risques d'investissement généraux, tels que les risques de marché, de contrepartie et de liquidité. Les risques spécifiques à ce Fonds sont détaillés dans le prospectus.
Ce produit n'inclut aucune protection contre les performances futures du marché, vous pourriez donc perdre tout ou partie de votre investissement.