# Performance, Portfolio Breakdowns and Net Asset information as at: 28-Feb-2023. All other data as at: 07-Mar-2023.
## Investors should read the Key Investor Information Document and Prospectus prior to investing.
Share Class and Benchmark performance displayed in EUR. Source: BlackRock. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested. Past performance is not a guide to future performance.
Key Risks: 
The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment.
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Share Class performance is calculated on a Net Asset Value (NAV) basis, net of fees in the dealing currency specified and do not include sales charge or taxes. Returns assume reinvestment of any distributions. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product.
Key Risks Continued: 
The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets. The fund may invest in exchange traded funds which have exposure to property securities and commodities (through an index). Property investments are subject to adverse changes in economic conditions, adverse local market conditions and risks associated with the acquisition, financing and ownership and operation and disposal of real property. The underlying commodities index may concentrate investment on selected commodity futures of multinational markets. This makes the exchange traded fund extremely dependent on the performance of the commodity markets concerned. The Fund may invest more than 10% of its Net Asset Value in the units of UCITS and/or other UCIs. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The strategies utilised by the Fund involve the use of derivatives to facilitate certain investment management techniques including the establishment of both 'long' and 'synthetic short' positions and creation of market leverage for the purposes of increasing the economic exposure of a Fund beyond the value of its net assets. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Funds. Investors in this fund should understand that the Fund is not guaranteed to produce a positive return and as an absolute return product, performance may not move in line with general stock market trends as both positive and negative share movements affect the overall value of the fund. The Manager employs a risk management process to oversee and manage derivative exposure within the Fund. The Fund may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of the fund.
| FEES AND EXPENSES |  |  | DEALING INFORMATION |  |
| --- | --- | --- | --- | --- |
| Max Initial Charge | 5.00% |  | Settlement | Trade Date + 3 days |
| Max Exit Fee | 0.00% |  | Dealing Frequency | Daily, forward pricing basis |
| Ongoing Charge | 1.50% |  |  |  |
| Performance Fee | 0.00% |  |  |  |

Translation (ENES, 2023-02-28):
# La rentabilidad, los desgloses de la cartera y la información sobre los activos netos son a: 28/02/23. Todos los demás datos a: 07/03/23.
## Antes de invertir, los inversores deben leer el documento KIID y el folleto (prospectus).
La clase de acciones y la rentabilidad del índice de referencia se muestran en EUR. Fuente: BlackRock. La rentabilidad se muestra sobre la base del valor liquidativo (NAV), con reinversión de los ingresos brutos.
El rendimiento de la clase de acciones es calculado en base al valor liquidativo, neto de comisiones en la moneda de negociación específica y no incluye gastos de venta o impuestos. Los rendimientos suponen la reinversión de cualquier distribución.
| COMISIONES Y GASTOS |  |  | INFORMACIÓN DE OPERACIONES |  |
| --- | --- | --- | --- | --- |
| Máx Comisión inicial | 5.00% |  | Liquidación | Fecha de la operación + 3 días |
| Máx Comisión de salida | 0.00% |  | Frecuencia de negociación | Liquidez diaria |
| Gasto corriente | 1.50% |  |  |  |
| Comisión de rendimiento | 0.00% |  |  |  |