### The EUR Short Duration Credit Fund seeks to maximise investment income while preserving capital. Under normal circumstances, the EUR Short Duration Credit Fund invests:
- at least two-thirds of its total assets in Euro-denominated short-term credit debt securities, rated investment grade at the time of purchase, issued by sovereign or corporate issuers. Investment grade means bearing a credit rating of BBB- and/or Baa3 or equivalent and above from any one of the following credit rating agencies: Standard & Poor’s, Moody’s or Fitch, or where an investment is not rated by either Standard & Poor’s, Moody’s or Fitch and where the Sub- Adviser consults with such other external sources that are available and uses its professional judgement, supported by at least one external opinion that such investment is of investment grade rating. While the Sub-Adviser may purchase securities of any maturity or duration, under normal circumstances, the Sub-Adviser expects the EUR Short Duration Credit Fund's portfolio to have an average weighted duration of up to 3.5 years or less;
- up to one-third of its total assets in currency-hedged non-Euro-denominated debt securities and foreign agencies;
- up to 10% of its total assets in investment grade asset-backed securities including mortgage- backed securities and commercial mortgage-backed securities;
- up to 10% of its total assets in debt securities rated below investment grade at the time of purchase; and
- up to 7.5% of its total assets in contingent convertible bonds.

Translation (ENIT, 2021-02-16):
Il Comparto EUR Short Duration Credit Fund persegue la massimizzazione del reddito da investimenti, conservando al contempo il capitale.
In circostanze normali, il Comparto EUR Short Duration Credit Fund investe:
- Almeno due terzi delle proprie attività totali in titoli di debito a breve termine denominati in euro, aventi rating investment grade al momento dell’acquisto, emessi da emittenti sovrani o societari. Il termine investment grade significa un rating creditizio pari a BBB- e/o Baa3 o rating equivalente o superiore, assegnato da una delle seguenti agenzie di valutazione del credito: Standard & Poor’s, Moody’s o Fitch; oppure, laddove un investimento non sia stato classificato da Standard & Poor’s, Moody’s o Fitch, assegnato dopo che il Sub-consulente si sia rivolto ad altre fonti esterne disponibili ed avvalso del proprio giudizio professionale, supportato almeno da un parere esterno, a conferma del rating investment grade dello strumento in questione. Pur potendo acquistare titoli di qualsiasi scadenza o duration, in circostanze normali il Sub-consulente prevede che la duration media ponderata del portafoglio del Comparto EUR Short Duration Credit Fund sarà pari o inferiore a 3,5 anni;
- sino a un terzo delle proprie attività totali in titoli di debito non denominati in euro, con copertura valutaria e di agenzie estere;
- sino al 10% delle proprie attività totali in titoli investment grade garantiti da attività, inclusi titoli garantiti da ipoteca e titoli garantiti da ipoteche commerciali;
- sino al 10% delle proprie attività totali in titoli di debito aventi un rating inferiore a investment grade al momento dell’acquisto; e
- sino al 7,5% delle proprie attività totali in obbligazioni convertibili contingenti.