# HIGHLIGHTS
PrivilEdge – Columbia US Short Duration High Yield is an actively managed long-only US short duration high yield fixed income strategy. It is managed by Columbia Threadneedle Investments, the asset management arm of Ameriprise Financial Inc. based in Minneapolis. The fund seeks to generate consistent long term returns through compounding income and avoiding principal losses by selecting below investment grade bonds denominated in USD. It invests in short dated issues in order to diminish overall volatility. The target average maturity of the fund is 2.5 years, although the investment team may vary this approach if market conditions so warrant. The management team combined bottom-up and top-down approach, with a deep credit selection process that seeks to maximise return per unit of risk. Constant focus on downside risk creates an asymmetrical risk profile. It materialises through portfolio diversification, position size management and a strong sell discipline.
NET CUMULATIVE PERFORMANCE AND ANNUAL PERFORMANCE IN CHF 
Dec 31, 2016 - Aug 31, 2022
120
110
Min. investment	EUR 1 million or equivalent
Entry/Exit fees	0.00% / 0.00%
Management fee	0.70%
Distribution fee	0.00%
FROC	0.20%
Ongoing charge (31 August 2022)	0.91%
TER max (30 September 2021)	0.90%
100
90
2017	2018	2019	2020	2021	2022

## 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,
PrivilEdge - Columbia US Short Duration High Yield, Syst. Hdg, (CHF) N D Annual or YTD performance (Fund) BofAML 0-5Y BB-B US HY Cons. Index (CHF Hdg. by LOIM)	Annual or YTD performance (Bench.)
Class launch date (13.03.2017)
Past performance does not predict future returns. Performances are displayed net of all costs except any entry and exit fees. Performance is subject to taxation may change in the future. Returns may increase or decrease because of currency fluctuations.
| NET PERFORMANCE IN CHF | Fund | Bench. |  |  | Fund | Bench. |
| --- | --- | --- | --- | --- | --- | --- |
| YTD | -6.16% | -6.88% |  |  | - | - |
| 1 month | -1.81% | -1.65% |  |  | - | - |
| 3 months | -2.41% | -2.62% |  |  | - | - |
| 1 year | -5.91% | -6.37% |  |  | - | - |
| 3 years | -0.90% | 0.00% |  |  | -0.30% | 0.00% |
| 5 years | -0.74% | 3.76% |  |  | -0.15% | 0.74% |
| Total return (since 15.11.2016) | 0.70% | 8.61% |  |  | 0.12% | 1.43% |
| STATISTICS  31.08.2017 - 31.08.2022 | Fund | Bench. |  |  |  | Fund |
| Annualised volatility | 5.42% | 6.96% |  | Average price |  | 95.05 |
| Sharpe ratio | 0.12 | 0.22 |  | Average coupon |  | 5.42% |
| Max. drawdown | -8.52% | -12.23% |  | Average maturity |  | 3.31 |
| Correlation |  | 0.969 |  | Average rating |  | BB- |
| Tracking error |  | 2.17% |  | Effective duration |  | 2.57 |
|  |  |  |  | Modified duration |  | 2.85 |
|  |  |  |  | Yield to worst |  | 6.89% |
|  |  |  |  | Yield to maturity |  | 6.19% |
|  |  |  |  | Number of positions |  | 189 |

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 D
ISIN	LU1515324462
Bloomberg	PCUSNDC LX
WKN	A2DGA3
NAV	CHF 8.32

## FISCAL INFORMATION
DE - Investment-steuergesetz (InvStG)	Other Funds Last dividend paid (26.11.2021)		CHF 0.39
Cumulative
Annualized

Translation (ENFR, 2022-08-31):
# POINTS CLÉS
PrivilEdge – Columbia US Short Duration High Yield est une stratégie long-only à gestion active sur les obligations à haut rendement américaines à duration courte. Le fonds est géré par Columbia Management Investment Advisers, le service de gestion d’actifs de Ameriprise Financial Inc., basée à Minneapolis. Il vise à générer un rendement à long terme régulier en capitalisant les revenus et en évitant les pertes en capital par la sélection d’obligations spéculatives libellées en USD. Il investit dans des maturités courtes afin de réduire la volatilité globale. La maturité moyenne cible du fonds est de 2,5 années, bien que l’équipe d’investissement puisse modifier son approche si les conditions du marché le justifient. L’équipe de direction a combiné une approche ascendante et descendante, associée à un processus de sélection de crédit approfondi visant à optimiser le rendement par unité de risque. L’accent mis en permanence sur le risque baissier crée un profil de risque asymétrique. Il se matérialise par la diversification du portefeuille, la gestion de la taille des positions et une discipline de vente rigoureuse.
PERFORMANCE CUMULÉE ET PERFORMANCE ANNUELLE NETTES EN CHF 
31 déc. 2016 - 31 août 2022
120
110
100
90
2017	2018	2019	2020	2021	2022
PrivilEdge - Columbia US Short Duration High Yield, Syst. Hdg, (CHF) N D Performance annuelle ou Année en cours (Fonds) BofAML 0-5Y BB-B US HY Cons. Index (CHF Hdg. by LOIM)	Performance annuelle ou Année en cours (Indice)
Lancement de la classe (13.03.2017)
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.
de risques ou que le capital est nécessairement garanti ou protégé.
CODES	
Classe D
Cumulée
PERFORMANCE NETTE EN CHF	
Fonds	Indice
| ISIN | LU1515324462 | 1 mois | -1.81% | -1.65% | - | - |
| --- | --- | --- | --- | --- | --- | --- |
| Bloomberg | PCUSNDC LX | 3 mois | -2.41% | -2.62% | - | - |

Année en cours	-6.16%	-6.88%
Annualisée
Fonds	Indice
-	-
|  | 1 an | -5.91% | -6.37% |  |  | - | - |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Valeur Liquidative | CHF 8.32 |  | 3 ans | -0.90% | 0.00% |  |  | -0.30% | 0.00% |
|  |  |  | 5 ans | -0.74% | 3.76% |  |  | -0.15% | 0.74% |
| INFORMATION FISCALE |  |  | Perf. totale (depuis 15.11.2016) | 0.70% | 8.61% |  |  | 0.12% | 1.43% |
| Dernier dividende (26.11.2021) | CHF 0.39 |  |  |  |  |  |  |  |  |
|  |  |  | STATISTIQUES  31.08.2017 - 31.08.2022 | Fonds | Indice |  |  |  | Fonds |
|  |  |  | Volat. annualisée | 5.42% | 6.96% |  | Average price |  | 95.05 |
|  |  |  | Ratio de Sharpe | 0.12 | 0.22 |  | Coupon moyen |  | 5.42% |
|  |  |  | Baisse maximum | -8.52% | -12.23% |  | Echéance moyenne |  | 3.31 |
|  |  |  | Corrélation |  | 0.969 |  | Note de crédit moyenne |  | BB- |
|  |  |  | Tracking Error |  | 2.17% |  | Effective duration |  | 2.57 |
|  |  |  |  |  |  |  | Duration modifiée |  | 2.85 |
|  |  |  |  |  |  |  | Yield to worst |  | 6.89% |
|  |  |  |  |  |  |  | Rendement à l'échéance |  | 6.19% |
|  |  |  |  |  |  |  | Nombre de positions |  | 189 |