To generate long-term capital appreciation. The Fund will pursue its investment objective while gradually shifting exposure from the Euro Government Bond Strategy to the US Research Strategy over a four-year-life-cycle (the "Life-Cycle") on a staged basis. 

The Fund promotes environmental and social characteristics in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (the “SFDR”).

The Fund will pursue its investment objective while gradually shifting exposure from the Euro Government Bond Strategy, which principally invests in fixed income securities as described below, to the US Research Strategy, which principally invests in the US Equity market as described below. The Fund shall transition from the Euro Government Bond Strategy to the US Research Strategy over a four-year period on a staged basis.

The below disclosure applies in respect of the Euro Government Bond Strategy. As the Fund’s exposure transitions, in line with the Pathway, these disclosures will be updated to more closely align with the US Research Strategy.

The Fund employs a proprietary environmental, social and governance (“ESG”) methodology which combines exclusions, engagement and sustainable investments to attain the environmental and social characteristics of the Fund as well as the objectives of the sustainable investments that the Fund partially intends to make.

The Fund’s environmental or social characteristics are assessed both quantitatively and qualitatively, by means of sustainability indicators as well as of the Investment Manager’s proprietary ESG methodology and its research process further described in the Website disclosure’s dedicated sections. As part of its investment decision making process, the Fund’s ESG methodology also uses binding criteria for the selection of underlying assets and applies specific ESG exclusions.   

Finally, the Fund has a minimum allocation of 15% of its portfolio to sustainable investments. The Fund ensures that its sustainable investments do not cause significant harm to any environmental or social sustainable investment objective.

Please click here for more information. 

Investors who understand the risks of the Fund and plan to invest for at least 4 years. The Fund may appeal to investors who: 

• are looking for long-term investment growth. 
• are interested in transitioning their exposure from fixed income to equity over the 4 year-life-cycle. 
• have a high risk profile and can tolerate short-term changes in the share price. 

The Fund does not offer any capital guarantee or protection and you may not get back the amount invested. 

• The Fund is subject to the following risks which are materially relevant: 
  Equity risk: prices of equities may be affected by factors such as economic, political, market, and issuer-specific changes. Such changes may adversely affect the value of the equities regardless of company-specific performance. 
  Risks of Equity-Related Securities: Such instruments expose the Fund to the risks of their underlying securities, including potential losses if those securities decline in value, as well as additional risks such as issuer credit deterioration, exchange-rate fluctuations, and limited collateral recovery in the event of default. 
  Custody and Settlement Risks: The Depositary is liable for losses caused by its own negligence or intentional failure, not for losses arising from a registrar's liquidation, bankruptcy, negligence, or wilful default. Funds investing in certain emerging markets face heightened settlement, custody, and registration risks due to underdeveloped systems, weak legal infrastructure, and limited protections, which may leave the Depositary without liability for losses. 
  Sustainability: The fund's integration of sustainability risks in the investment decision process may have the effect of excluding profitable investments from the investment universe of the fund and may also cause the fund to sell investments that will continue to perform well. A sustainability risk could materialise due to an environmental, social or governance event or condition which may impact the fund's investments and negatively affect the returns of the fund.
  Debt Securities Risk: as interest rates rise debt securities will fall in value. Issuers of debt securities may fail to meet their regular interest and/or capital repayment obligations. All credit instruments therefore have potential for default. Higher yielding securities are more likely to default.
  Derivatives Risks: the use of derivatives can result in greater fluctuations of the fund's value and may cause the fund to lose as much as or more than the amount invested. 
  Risks of Mortgage-Backed Securities: the timing and size of the cash-flow from mortgage-backed securities is not fully assured and could result in loss for the fund. These types of investments may also be difficult for the fund to sell quickly. 
  Investment Funds Risk: the risk that investing in other funds may be more costly or provide less liquidity than investing in underlying securities directly, or that a closed-end fund holding may trade at a premium or discount to its net asset value. 
  Risks of Asset-Backed Securities: the timing and size of the cash-flow from asset-backed securities is not fully assured and could result in loss for the fund. These types of investments may also be difficult for the fund to sell quickly. 

Complete information on the risks of investing in the Fund are set out in the Fund's prospectus.