# Fund Risks
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. Prior to
investing in the Fund investors should carefully consider the risks associated with investing, whether the Fund suits their investment requirements and whether they have sufficient resources to bear any losses which may result from an investment in the Fund. Investors
should only invest if they understand the terms on which the Fund is offered. Investors should consider the risks detailed in the risk glossary and where appropriate seek professional advice before
investing.
| Inception Date | 11 December 2014 |
| --- | --- |
| Fund Size | USD 3,484,192,721 |
| Structure | UCITS |
| Domicile | Ireland |
| Investment Manager | AHL Partners LLP |

|  | Name |
| --- | --- |
| Benchmark | 60/40 MSCI World (NDTR)/Barclays Global Aggregate USD Hedged |

| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

Cumulative Performance
1
|  | 1 Month | 3 Months | 6 Months | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund | 3.83% | 0.55% | 4.35% | 7.81% | 3.84% | 2.96% | 32.65% | n/a | 49.74% |
| Benchmark | 6.43% | 1.50% | 5.75% | 12.94% | 8.99% | 13.41% | 42.44% | n/a | 64.04% |

Discrete Performance
1	
Performance Statistics Since Inception
1
| Year | Nov 2022 - Nov 2023 | Nov 2021 - Nov 2022 | Nov 2020 - Nov 2021 | Nov 2019 - Nov 2020 | Nov 2018 - Nov 2019 |
| --- | --- | --- | --- | --- | --- |
| Fund | 3.84% | -11.94% | 12.60% | 4.36% | 23.46% |
| Benchmark | 8.99% | -8.33% | 13.51% | 10.41% | 13.75% |

| Annualised Return | Annualised Volatility | Sharpe Ratio4 | Correlation | Beta | Information Ratio | Tracking Error |
| --- | --- | --- | --- | --- | --- | --- |
| 5.74% | 9.31% | 0.40 | n/a | n/a | n/a | n/a |
| 7.08% | 9.82% | 0.52 | 0.78 | 0.74 | -0.21 | 6.29% |

| Drawdown Statistics 5 |
| --- |
|  | Max Drawdown | Length of Max Drawdown | Length of Recovery | Duration of Max Drawdown | Number of Total Drawdowns |
| Fund | -18.12% | 9 Months | n/a | n/a | 14 |
| Benchmark | -17.66% | 9 Months | n/a | n/a | 12 |

Historical Performance
1
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Fund YTD | BM YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2016 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | -2.00% | -3.09% | -1.80% | 3.88% | -3.12% | 1.37% |
| 2017 | -0.20% | 3.95% | 0.75% | 1.84% | 2.33% | -2.50% | 1.66% | 3.26% | -0.93% | 3.97% | -0.08% | 2.10% | 17.14% | 12.45% |
| 2018 | 0.13% | -1.78% | 1.01% | 1.12% | 2.00% | -0.08% | 0.22% | 0.55% | -0.54% | -4.07% | 1.04% | -2.06% | -2.58% | -3.11% |
| 2019 | 5.26% | 1.06% | 5.16% | 1.18% | -0.62% | 6.34% | 2.56% | 2.96% | -0.11% | -0.31% | 0.23% | 1.13% | 27.47% | 20.18% |
| 2020 | 1.02% | -4.64% | -1.45% | 0.57% | 1.14% | 1.42% | 2.41% | 1.13% | -1.25% | -1.52% | 4.62% | 1.66% | 4.91% | 11.42% |
| 2021 | -0.60% | -0.95% | 1.09% | 0.79% | 2.27% | 3.63% | 5.20% | 1.41% | -2.96% | 2.13% | -1.48% | 2.53% | 13.55% | 13.52% |
| 2022 | -4.15% | -0.79% | -0.47% | -4.10% | -0.14% | -6.35% | 5.63% | -4.39% | -4.48% | 1.58% | 3.27% | -3.68% | -17.27% | -13.50% |
| 2023 | 4.57% | -2.72% | 2.89% | 0.81% | -2.09% | 3.46% | 3.13% | -2.74% | -1.76% | -1.43% | 3.83% | n/a | 7.81% | 12.94% |

Past Performance is not indicative of future performance. Returns may increase or decrease as a result of currency
fluctuations.
Number of Occurances
| Performance Analysis |  |  |  |  |
| --- | --- | --- | --- | --- |
| Distribution of Monthly Returns 30 25 20 15 10 5 0 |  |  |  | Gross Performance Contribution 6 |
|  |  |  |  |
|  |  |  | Bonds and Rates	0.98% Credit	0.76% Inflation -0.21% Stocks	2.05% |

Top 5 markets
7	
Bottom 5 Markets
7
|  | MTD | EOM Position |  | MTD | EOM Position |
| --- | --- | --- | --- | --- | --- |
| S+P 500 Index | 0.39% | Long | BBG Commodity ex-Agriculturals Index | -0.49% | Long |
| US High Yield CDX Index | 0.28% | Long | FTSE China A50 Index (Simex) | -0.03% | Long |
| European 5yr Crossover iTraxx Index | 0.20% | Long | Hang Seng | -0.03% | Long |
| NASDAQ 100 Index | 0.20% | Long | H-Shares-Index | -0.03% | Long |
| S+P TSX 60 Index | 0.18% | Long | Singapore MSCI Index | -0.01% | Long |

Translation (ENFR, 2023-11-30):
# Risques Du Fonds
La valeur de vos investissements et les revenus qui en découlent peuvent aussi bien augmenter que diminuer et vous courez le risque de perdre le montant investi au départ. Avant d’investir dans le Fonds, il est recommandé aux investisseurs de prendre en compte les risques,
de vérifier si le Fonds correspond à leur profil d’investisseur et s’ils disposent de moyens financiers suffisants pour assumer les pertes qui pourraient être subies au titre des investissements dans le Fonds . Les investisseurs ne doivent investir que s’ils comprennent les
conditions auxquelles le Fonds est proposé. Vous trouverez plus d’informations dans les définitions des risques. Nous invitons les investisseurs à lire les documents commerciaux du fonds et à en prendre compte avant de décider d’investir.
Index Value (Rebased to 100)
| Date de création | 11 décembre 2014 |
| --- | --- |
| Encours du fonds | USD 3 484 192 721 |
| Structure | UCITS |
| Domicile | Irlande |
| Gestionnaire d'investissements | AHL Partners LLP |

| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

|  | Name |
| --- | --- |
| Benchmark | 60/40 MSCI World (NDTR)/Barclays Global Aggregate USD Hedged |

Performance cumulée
1
|  | 1 mois | 3 mois | 6 mois | YTD | 1 an | 3 ans | 5 ans | 10 ans | Depuis le lancement |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund | 3.83% | 0.55% | 4.35% | 7.81% | 3.84% | 2.96% | 32.65% | n/a | 49.74% |
| Benchmark | 6.43% | 1.50% | 5.75% | 12.94% | 8.99% | 13.41% | 42.44% | n/a | 64.04% |

Performances discrètes
1	
Statistiques de performance (Depuis Le Lancement)
1
| Année | Nov 2022 - Nov 2023 | Nov 2021 - Nov 2022 | Nov 2020 - Nov 2021 | Nov 2019 - Nov 2020 | Nov 2018 - Nov 2019 |
| --- | --- | --- | --- | --- | --- |
| Fonds | 3.84% | -11.94% | 12.60% | 4.36% | 23.46% |
| Benchmark | 8.99% | -8.33% | 13.51% | 10.41% | 13.75% |

| Rendement annualisé | Volatilité annualisée | Ratio de Sharpe4 | Corrélation | Bêta | Ratio d’informatio n | Tracking Error |
| --- | --- | --- | --- | --- | --- | --- |
| 5.74% | 9.31% | 0.40 | n/a | n/a | n/a | n/a |
| 7.08% | 9.82% | 0.52 | 0.78 | 0.74 | -0.21 | 6.29% |

| Statistiques de prélèvement 5 |
| --- |
|  | Tirage maximum | Durée du retrait maximum | Durée de récupération | Durée du retrait maximum | Nombre de tirages totaux |
| Fund | -18.12% | 9 Months | n/a | n/a | 14 |
| Benchmark | -17.66% | 9 Months | n/a | n/a | 12 |

Historique De Performance
1
| Année | Janv. | Févr. | Mars. | Apr | Mai | Juin | Juil. | Août | Sept. | Oct. | Nov. | Déc. | Fonds YTD | BM YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2016 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | -2.00% | -3.09% | -1.80% | 3.88% | -3.12% | 1.37% |
| 2017 | -0.20% | 3.95% | 0.75% | 1.84% | 2.33% | -2.50% | 1.66% | 3.26% | -0.93% | 3.97% | -0.08% | 2.10% | 17.14% | 12.45% |
| 2018 | 0.13% | -1.78% | 1.01% | 1.12% | 2.00% | -0.08% | 0.22% | 0.55% | -0.54% | -4.07% | 1.04% | -2.06% | -2.58% | -3.11% |
| 2019 | 5.26% | 1.06% | 5.16% | 1.18% | -0.62% | 6.34% | 2.56% | 2.96% | -0.11% | -0.31% | 0.23% | 1.13% | 27.47% | 20.18% |
| 2020 | 1.02% | -4.64% | -1.45% | 0.57% | 1.14% | 1.42% | 2.41% | 1.13% | -1.25% | -1.52% | 4.62% | 1.66% | 4.91% | 11.42% |
| 2021 | -0.60% | -0.95% | 1.09% | 0.79% | 2.27% | 3.63% | 5.20% | 1.41% | -2.96% | 2.13% | -1.48% | 2.53% | 13.55% | 13.52% |
| 2022 | -4.15% | -0.79% | -0.47% | -4.10% | -0.14% | -6.35% | 5.63% | -4.39% | -4.48% | 1.58% | 3.27% | -3.68% | -17.27% | -13.50% |
| 2023 | 4.57% | -2.72% | 2.89% | 0.81% | -2.09% | 3.46% | 3.13% | -2.74% | -1.76% | -1.43% | 3.83% | n/a | 7.81% | 12.94% |

Les performances passées ne préjugent pas des performances futures. Les rendements peuvent augmenter ou diminuer selon les fluctuations des taux de change.
| Analyse de performance |  |
| --- | --- |
| Répartition des rendements mensuels | Contribution brute à la performance 6 |


## 30
Number of Occurances
25	
Actions

## 20
15	
Inflation -0.21%

## 10
5	
Crédit

## 0
Obligations et taux
2.05%
Les 5 principaux marchés
7	
Les 5 derniers marchés
7
|  | MTD | MTD |
| --- | --- | --- |
| S+P 500 Index | 0.39% | Long | BBG Commodity ex-Agriculturals Index | -0.49% | Long |
| US High Yield CDX Index | 0.28% | Long | FTSE China A50 Index (Simex) | -0.03% | Long |
| European 5yr Crossover iTraxx Index | 0.20% | Long | Hang Seng | -0.03% | Long |
| NASDAQ 100 Index | 0.20% | Long | H-Shares-Index | -0.03% | Long |
| S+P TSX 60 Index | 0.18% | Long | Singapore MSCI Index | -0.01% | Long |