# FUND ANALYSIS§
| TOP 10 CREDIT EXPOSURES^ |  |
| --- | --- |
| Holdings | Fund Exposure | Issuer Country | Risk Currency |
| MBONO 7 1/4 12/09/21 | 8.31% | Mexico | MXN |
| INDOGB 7 05/15/27 FR59 | 8.18% | Indonesia | IDR |
| CZGB 0.45 10/25/23 97 | 8.01% | Czech Republic | CZK |
| CGB 2.88 11/05/23 INBK | 7.27% | China | CNY |
| RFLB 7.05 01/19/28 6212 | 7.04% | Russian Federation | RUB |
| PERU 6.9 08/12/37 REGS | 5.20% | Peru | PEN |
| COLTES 7 3/4 09/18/30 B | 5.19% | Colombia | COP |
| THAIGB 3.65 12/17/21 | 5.19% | Thailand | THB |
| SAGB6 1/2 02/28/41 R214 | 3.95% | South Africa | ZAR |
| BNTNF 10 01/01/23 | 3.49% | Brazil | BRL |


#### MONTHLY SUMMARY REPORT: 30 JULY 2021	REPORTING CLASS: Man GLG Global Emerging Markets Local Currency Rates D C USD
| HISTORICAL PERFORMANCE |
| --- |
|  | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
| 2016 | - | - | - | - | - | 6.17% | -0.03% | 0.05% | 2.09% | -1.10% | -5.89% | 1.92% | 2.84% |
| 2017 | 2.29% | 2.02% | 2.22% | 0.80% | 1.48% | 0.44% | 1.57% | 1.55% | -0.65% | -2.55% | 1.39% | 1.31% | 12.45% |
| 2018 | 3.79% | -0.90% | 0.59% | -2.47% | -4.95% | -2.90% | 1.78% | -6.72% | 2.50% | -1.92% | 2.24% | 0.72% | -8.47% |
| 2019 | 4.63% | -1.15% | -1.77% | 0.33% | -0.39% | 4.77% | -0.10% | -3.16% | 0.35% | 2.38% | -2.00% | 3.56% | 7.31% |
| 2020 | -1.65% | -2.82% | -9.38% | 2.99% | 4.47% | 0.16% | 2.67% | -0.33% | -2.00% | 0.41% | 4.86% | 2.89% | 1.42% |
| 2021 | -1.10% | -1.77% | -2.40% | 1.69% | 1.97% | -1.14% | -0.78% | - | - | - | - | - | -3.56% |

| Class	NAV | 2018 | 2019 | 2020 | ISIN | Minimum Initial | Minimum Additional | Entry Charge‡ | Redemption Fee (Up to) | OCF | Performance Fee |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| D C USD111.10 | -8.47% | 7.31% | 1.42% | IE00BYQP7B68 | 1,000 | - | N/A | N/A | 1.56% | N/A |
| I C USD Net-	101.64 | - | 8.00% | 1.83% | IE00BGLSNP00 | 1,000,000 | 0 | N/A | N/A | 0.81% | N/A |
| D C EUR106.64 | -3.80% | 9.37% | -6.90% | IE00BYQP7726 | 1,000 | - | N/A | N/A | 1.56% | N/A |
| I C EUR109.55 | -3.35% | 9.86% | -6.48% | IE00BYQP7387 | 1,000,000 | - | N/A | N/A | 0.81% | N/A |
| I C EUR Net-	- | - | 9.97% | -6.45% | IE00BD37LZ07 | 1,000,000 | - | N/A | N/A | 0.81% | N/A |
| I C GBP120.08 | -2.36% | 3.78% | -1.16% | IE00BYQP7494 | 1,000,000 | 0 | N/A | N/A | 0.81% | N/A |
| I C SEK120.64 | -0.61% | 13.68% | -10.34% | IE00BYQP7502 | 5,000,000 | - | N/A | N/A | 0.81% | N/A |
| I C USD115.15 | -7.94% | 8.01% | 2.00% | IE00BYQP7619 | 1,000,000 | 0 | N/A | N/A | 0.81% | N/A |
| I H EUR Net-	81.65 | -10.53% | 5.81% | 0.34% | IE00BDHF1S36 | 1,000,000 | - | N/A | N/A | 0.81% | N/A |
| I H GBP106.00 | -9.67% | 6.01% | 0.44% | IE00BD0Q9H86 | 1,000,000 | - | N/A | N/A | 0.81% | N/A |

Model calculation (net): an investor wishes to purchase shares for Euro 1,000. With a maximum issue surcharge of 5.00%, he has to spend a one-off amount of Euro 50.00 when making the purchase. In addition, there may be custodian costs that reduce performance. The custodian costs are decided by your bank’s price list and service charges.
‡

#### Entry Charge is up to the rate indicated.

#### †Please refer to the Fund’s prospectus for further details
.

#### ^The organisations and/or financial instruments mentioned are for reference purposes only. The content of this material should not be construed as a recommendation for their purchase or sale.

#### § All exposure tables (except the Expected Life Breakdown) include CDS positions

#### ¥ Includes FX forward positions and EM local currency denominated bonds

#### « Debt includes US Government Bonds
RISK GLOSSARY
Market Risk - The Fund is subject to normal market fluctuations and the risks associated with investing in international securities markets. Therefore, the value of your investment and the income from it may rise as well as fall and you may not get back the amount originally invested.
Counterparty Risk - The Fund will be exposed to credit risk on counterparties with which it trades in relation to on-exchange traded instruments such as futures and options and where applicable, 'over-the-counter' ("OTC","non-exchange") transactions. OTC instruments may also be less liquid and are not afforded the same protections that may apply to participants trading instruments on an organised exchange.
Currency Risk - The value of investments designated in another currency may rise and fall due to exchange rate fluctuations. Adverse movements in currency exchange rates may result in a decrease in return and a loss of capital. It may not be possible or practicable to successfully hedge against the currency risk exposure in all circumstances.
Liquidity Risk -The Fund may make investments or hold trading positions in markets that are volatile and which may become illiquid. Timely and cost efficient sale of trading positions can be impaired by decreased trading volume and/or increased price volatility.
Financial Derivatives Instruments - The Fund will invest financial derivative instruments ("FDI") (instruments whose prices are dependent on one or more underlying asset) to achieve its investment objective. The use of FDI involves additional risks such as high sensitivity to price movements of the asset on which it is based. The extensive use of FDI may significantly multiply the gains or losses.
Leverage Risk -The Fund's use of FDI may result in increased leverage which may lead to significant losses.
Emerging Markets - The Fund may invest a significant proportion of its assets in securities with exposure to emerging markets which involve additional risks relating to matters such as the illiquidity of securities and the potentially volatile nature of markets not typically associated with investing in other more established economies or markets.
Non-Investment Grade Securities - The Fund may invest a significant proportion of its assets in non-investment grade securities (such as "high yield" securities) are considered higher risk investments that may cause income and principal losses for the Fund. They are instruments which credit agencies have given a rating which indicates a higher risk of default. The market values for high yield bonds and other instruments tend to be volatile and they are less liquid than investment grade securities.
A complete description of risks is set out in the Fund's prospectus.

Translation (ENFR, 2021-07-30):
# ANALYSE DU FONDS§
| 10 PRINCIPALES EXPOSITIONS AU CRÉDIT^ |  |
| --- | --- |
| Détentions | Exposition du fonds | Pays de l’émetteur | Devise du risque |
| MBONO 7 1/4 12/09/21 | 8,31% | Mexico | MXN |
| INDOGB 7 05/15/27 FR59 | 8,18% | Indonesia | IDR |
| CZGB 0.45 10/25/23 97 | 8,01% | Czech Republic | CZK |
| CGB 2.88 11/05/23 INBK | 7,27% | China | CNY |
| RFLB 7.05 01/19/28 6212 | 7,04% | Russian Federation | RUB |
| PERU 6.9 08/12/37 REGS | 5,20% | Peru | PEN |
| COLTES 7 3/4 09/18/30 B | 5,19% | Colombia | COP |
| THAIGB 3.65 12/17/21 | 5,19% | Thailand | THB |
| SAGB6 1/2 02/28/41 R214 | 3,95% | South Africa | ZAR |
| BNTNF 10 01/01/23 | 3,49% | Brazil | BRL |


#### RAPPORT SYNTHÉTIQUE MENSUEL : 30 JUILLET 2021	CLASSE DU REPORTING : Man GLG Global Emerging Markets Local Currency Rates D C USD
| HISTORIQUE DE PERFORMANCE |
| --- |
|  | Janv. | Févr. | Mars. | Avr. | Mai | Juin | Juil. | Août | Sept. | Oct. | Nov. | Déc. | YTD |
| 2016 | - | - | - | - | - | 6,17% | -0,03% | 0,05% | 2,09% | -1,10% | -5,89% | 1,92% | 2,84% |
| 2017 | 2,29% | 2,02% | 2,22% | 0,80% | 1,48% | 0,44% | 1,57% | 1,55% | -0,65% | -2,55% | 1,39% | 1,31% | 12,45% |
| 2018 | 3,79% | -0,90% | 0,59% | -2,47% | -4,95% | -2,90% | 1,78% | -6,72% | 2,50% | -1,92% | 2,24% | 0,72% | -8,47% |
| 2019 | 4,63% | -1,15% | -1,77% | 0,33% | -0,39% | 4,77% | -0,10% | -3,16% | 0,35% | 2,38% | -2,00% | 3,56% | 7,31% |
| 2020 | -1,65% | -2,82% | -9,38% | 2,99% | 4,47% | 0,16% | 2,67% | -0,33% | -2,00% | 0,41% | 4,86% | 2,89% | 1,42% |
| 2021 | -1,10% | -1,77% | -2,40% | 1,69% | 1,97% | -1,14% | -0,78% | - | - | - | - | - | -3,56% |

| Minimum Classe	NAV	2018	2019	2020	ISIN	d’investisse ment initial | Minimum d’investisse ment additionnel | Frais	Frais de		Commission d’entrée‡		rachat	OCF		de (max.)	performance |
| --- | --- | --- |
| D C USD	111,10 | -8,47% | 7,31% | 1,42% | IE00BYQP7B68 | 1.000 | - | N/A | N/A | 1,56% | N/A |
| I C USD Net-	101,64 | - | 8,00% | 1,83% | IE00BGLSNP00 | 1.000.000 | 0 | N/A | N/A | 0,81% | N/A |
| D C EUR	106,64 | -3,80% | 9,37% | -6,90% | IE00BYQP7726 | 1.000 | - | N/A | N/A | 1,56% | N/A |
| I C EUR	109,55 | -3,35% | 9,86% | -6,48% | IE00BYQP7387 | 1.000.000 | - | N/A | N/A | 0,81% | N/A |
| I C EUR Net-	- | - | 9,97% | -6,45% | IE00BD37LZ07 | 1.000.000 | - | N/A | N/A | 0,81% | N/A |
| I C GBP	120,08 | -2,36% | 3,78% | -1,16% | IE00BYQP7494 | 1.000.000 | 0 | N/A | N/A | 0,81% | N/A |
| I C SEK	120,64 | -0,61% | 13,68% | -10,34% | IE00BYQP7502 | 5.000.000 | - | N/A | N/A | 0,81% | N/A |
| I C USD	115,15 | -7,94% | 8,01% | 2,00% | IE00BYQP7619 | 1.000.000 | 0 | N/A | N/A | 0,81% | N/A |
| I H EUR Net-	81,65 | -10,53% | 5,81% | 0,34% | IE00BDHF1S36 | 1.000.000 | - | N/A | N/A | 0,81% | N/A |
| I H GBP	106,00 | -9,67% | 6,01% | 0,44% | IE00BD0Q9H86 | 1.000.000 | - | N/A | N/A | 0,81% | N/A |

Calcul du modèle (net) : un investisseur souhaite acheter des actions pour 1 000 euros. Avec une commission maximum d’émission de 5 %, il doit investir un montant forfaitaire de 50 euros lors de l’achat. Des frais de dépositaire peuvent également s’appliquer et réduire la performance. Les frais de dépositaire sont établis par la liste des prix de votre banque et les commissions de service.
‡

#### Les frais d’entrée ne peuvent pas dépasser le seuil maximum indiqué.

#### †Veuillez vous référer au prospectus du Fonds pour plus de détails
^Les organisations et/ou instruments financiers mentionnés sont mentionnés à titre de référence. Le contenu du présent document ne doit pas être considéré comme une recommandation d’achat ou de vente.

#### § Tous les tableaux d’exposition (excepté la Ventilation prévue sur la durée) incluent des positions sur CDS

#### ¥ Inclut des positions de contrat de change à terme et des obligations libellées en devise locale EM

#### « La dette inclut les obligations d’État américaines