Anlageziel

The sub-fund mainly invests in a diversified global bond portfolio of investment grade bonds (i.e. bonds with a rating of BBB- or higher by Standard & Poor's, or Baa3 or higher by Moody's), with average portfolio duration at or below 2 years. In case of conflicting ratings, the lower rating shall pertain. The sub-fund may invest no more than 10% of its managed assets in units of other UCITS or other collective investment undertakings comparable to a UCITS. The sub-fund will not invest in loans or engage in the business of money lending, leasing, fac-toring or securitization.