Currency risk: The fund may suffer losses in value as a result of changes in exchange rates.
Derivatives risk: Derivatives may be used to manage the portfolio efficiently. The fund may also invest significantly in derivatives and use short selling and leverage techniques to achieve a return. A derivative may not perform as expected, which may result in losses greater than the cost of the derivative. This may result in losses for the fund.
Interest rate risk: The fund may suffer losses in value as a direct result of changes in interest rates.
IBOR: The shift in the financial markets away from the use of Interbank Offered Rates (“IBOR”) and towards alternative reference rates may affect the valuation of certain investments and disrupt the liquidity of certain instruments. This may affect the investment performance of the Fund.
Performance risk: The investment objectives indicate the intended target. However, there can be no guarantee that this objective will be achieved. Depending on market conditions and the macroeconomic environment, it may become more difficult to achieve the investment objectives.
High yield bond risk: High yield bonds (usually with lower or no credit rating) are generally associated with greater market, credit and liquidity risks.
ABS and MBS risks: The Fund may invest in mortgage- and asset-backed securities. It is possible that the borrowers underlying these securities may not be able to repay the full amount owed by them, which may result in losses for the Fund.
CoCo bonds: The fund may invest in CoCo bonds. A reduction in the financial strength of the issuer of such bonds may result in losses for the fund.
Credit risk: If the financial condition of an issuer deteriorates, its bonds may lose value or become worthless.
Liquidity risk: In difficult market conditions, the fund may not be able to sell a security at its full value or at all. This could have an impact on performance and cause the fund to postpone or suspend redemptions of units.
Operational risk: Operational processes, including those relating to the safekeeping of assets, may fail. This may result in losses for the fund.
Sustainability risks: The fund has environmental and/or social characteristics. This means that it may have limited exposure to some companies, industries or sectors and may not take advantage of certain investment opportunities or may sell certain positions if they do not meet the sustainability criteria selected by the Investment Manager. The Fund may invest in companies that do not reflect the beliefs and values of a particular investor.
Capital risk/distribution policy: As the Fund intends to pay dividends regardless of its performance, a dividend may be equivalent to a repayment of part of the amount you have invested.