###### Summary of Investment Objectives of the Sub-Funds
The primary investment objective of each of the Sub-Funds is to achieve over the medium term a high level of total return consisting of income and capital appreciation. Each Sub-Fund will seek to achieve its objective, in accordance with the specific investment policies established for the Sub-Fund by the Board of Directors of the SICAV, by investing primarily in fixed income transferable securities that are considered by the Investment Manager and Advisor to have the potential to provide a higher level of total return.
The following is a summary of the investment objectives of BlueBay Funds: BlueBay Funds - BlueBay Emerging Market Bond Fund, BlueBay Funds - BlueBay High Yield ESG Bond Fund (formerly BlueBay Funds
- BlueBay High Yield Bond Fund), BlueBay Funds - BlueBay Investment Grade Bond Fund, BlueBay Funds - BlueBay Emerging Market Local Currency Bond Fund, BlueBay Funds - BlueBay Emerging Market Select Bond Fund, BlueBay Funds - BlueBay Emerging Market Corporate Bond Fund, BlueBay Funds - BlueBay Global Convertible Bond Fund, BlueBay Funds - BlueBay Emerging Market Unconstrained Bond Fund, BlueBay Funds - BlueBay Investment Grade Euro Government Bond Fund, BlueBay Funds - BlueBay Investment Grade Euro Aggregate Bond Fund, BlueBay Funds - BlueBay Global High Yield Bond Fund, BlueBay Funds - BlueBay Emerging Market Investment Grade Corporate Bond Fund, BlueBay Funds - BlueBay Investment Grade Absolute Return Bond Fund, BlueBay Funds - BlueBay Emerging Market High Yield Corporate Bond Fund, BlueBay Funds - BlueBay Global Investment Grade Corporate Bond Fund, BlueBay Funds - BlueBay Total Return Credit Fund, BlueBay Funds - BlueBay Emerging Market Local Currency Corporate Bond Fund, BlueBay Funds - BlueBay Financial Capital Bond Fund, BlueBay Funds - BlueBay Investment Grade Global Aggregate Bond Fund, BlueBay Funds - BlueBay Emerging Market Aggregate Bond Fund, BlueBay Funds - BlueBay Global Sovereign Opportunities Fund, BlueBay Funds - BlueBay Global High Yield ESG Bond Fund, BlueBay Funds - BlueBay Investment Grade Structured Credit Fund, BlueBay Funds - BlueBay Emerging Market Aggregate Short Duration Bond Fund, BlueBay Funds - BlueBay Capital Income Fund and BlueBay Funds - BlueBay High Grade Structured Credit Short Duration Fund, BlueBay Funds - BlueBay Investment Grade Absolute Return ESG Bond Fund, BlueBay Funds - BlueBay Investment Grade ESG Bond Fund and BlueBay Funds - BlueBay Impact - Aligned Bond Fund, (each a “Sub-Fund” collectively the “Sub-Funds”). Full details of the investment objectives, guidelines and restrictions are given in the BlueBay Funds’ Prospectus.
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###### BlueBay Funds - BlueBay Emerging Market Bond Fund

Translation (ENIT, 2022-06-30):
#### Sintesi degli obiettivi d’investimento dei Comparti
L’obiettivo d’investimento principale di ciascuno dei Comparti è conseguire nel medio periodo un elevato rendimento totale, costituito da reddito e guadagni in conto capitale. Ciascun Comparto cercherà di conseguire il suo obiettivo, conformemente alle specifiche politiche d’investimento stabilite per il Comparto dal Consiglio di Amministrazione della SICAV, investendo principalmente in valori mobiliari a reddito fisso che, a giudizio del Gestore e Consulente per gli investimenti, sono in grado di generare un rendimento totale più elevato.
Di seguito viene fornita una sintesi degli obiettivi d’investimento dei Comparti di BlueBay Funds: BlueBay Funds
- BlueBay Emerging Market Bond Fund, BlueBay Funds - BlueBay High Yield ESG Bond Fund (in precedenza BlueBay Funds - BlueBay High Yield Bond Fund), BlueBay Funds - BlueBay Investment Grade Bond Fund, BlueBay Funds - BlueBay Emerging Market Local Currency Bond Fund, BlueBay Funds - BlueBay Emerging Market Select Bond Fund, BlueBay Funds - BlueBay Emerging Market Corporate Bond Fund, BlueBay Funds - BlueBay Global Convertible Bond Fund, BlueBay Funds - BlueBay Emerging Market Unconstrained Bond Fund, BlueBay Funds - BlueBay Investment Grade Euro Government Bond Fund, BlueBay Funds - BlueBay Investment Grade Euro Aggregate Bond Fund, BlueBay Funds - BlueBay Global High Yield Bond Fund, BlueBay Funds - BlueBay Emerging Market Investment Grade Corporate Bond Fund, BlueBay Funds - BlueBay Investment Grade Absolute Return Bond Fund, BlueBay Funds - BlueBay Emerging Market High Yield Corporate Bond Fund, BlueBay Funds - BlueBay Global Investment Grade Corporate Bond Fund, BlueBay Funds - BlueBay Total Return Credit Fund, BlueBay Funds - BlueBay Emerging Market Local Currency Corporate Bond Fund, BlueBay Funds - BlueBay Financial Capital Bond Fund, BlueBay Funds - BlueBay Investment Grade Global Aggregate Bond Fund, BlueBay Funds - BlueBay Emerging Market Aggregate Bond Fund, BlueBay Funds - BlueBay Global Sovereign Opportunities Fund, BlueBay Funds - BlueBay Global High Yield ESG Bond Fund, BlueBay Funds - BlueBay Investment Grade Structured Credit Fund, BlueBay Funds - BlueBay Emerging Market Aggregate Short Duration Bond Fund, BlueBay Funds - BlueBay Capital Income Fund, BlueBay Funds - BlueBay High Grade Structured Credit Short Duration Fund, BlueBay Funds - BlueBay Investment Grade Absolute Return ESG Bond Fund, BlueBay Funds - BlueBay Investment Grade ESG Bond Fund e BlueBay Funds - BlueBay Impact - Aligned Bond Fund (ciascuno un “Comparto”, collettivamente i “Comparti”). Una descrizione completa degli obiettivi, delle direttive e dei limiti d’investimento è contenuta nel Prospetto informativo di BlueBay Funds.
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#### BlueBay Funds - BlueBay Emerging Market Bond Fund