Bellevue Sustainable Healthcare

The sub-fund is an equity fund. The investment objective of Bellevue Sustainable Healthcare is to achieve long-term capital growth by investing at least two thirds of the net assets of the fund in a portfolio of carefully chosen shares and other equity securities of companies in the healthcare sector taking account of sustainability criteria. The fund can also invest in companies whose main activity involves holding investments in such companies or financing such companies and that have their registered office or carry out the majority of their economic activity in recognised countries. Without limiting the scope of “healthcare sector”, the healthcare sector includes companies from the areas of pharmaceuticals, medical technology, biotechnology and related sectors. In particular, these are companies that create, develop, utilise, market and/or sell processes, methods, technologies, products or services which are used for diagnostic and therapeutic purposes in humans and animals, as well as companies whose activity mainly consists in holding shares in such companies or in financing such companies. The fund is managed taking sustainability criteria into consideration. This means that according to generally accepted approaches, environmental (ecological), social, societal, ethical and corporate governance criteria (ESG/CSR) are taken into account in the assessment and selection of a company for the portfolio. The selection of securities takes account of both exclusion criteria (negative selection) and the “best in class” method (positive selection) in selecting particularly sustainable companies in each sector. In addition, selection also takes account of impact criteria with regard to the United Nations’ Sustainable Development Goals (UN SDG). Exclusion criteria and best in class ESG/CSR criteria go by the following guidelines: • Austrian Environmental Authority guidelines • Guidelines for ethical sustainable investments in the Protestant Church • Orientation guidelines from the Catholic Church on “ethical sustainable investment” • Principles of the United Nations Global Compact These criteria relate, as far as is applicable, to companies in the healthcare sector, to the following issues, among others: • Environment: protecting natural resources, the atmosphere and inland waters; limiting land degradation and climate change; preventing interference in the ecosystem and loss of biodiversity • Social: mandatory non-discrimination; general human rights; prohibition of child and forced labour; product safety; health and safety in the workplace; fair working conditions and appropriate compensation • Corporate principles: anti-corruption principles in accordance with the UN Global Compac In addition, the Company may invest no more than one third of the net assets of Bellevue Sustainable Healthcare in carefully selected shares and other equity securities from other companies that have their registered office or carry out the majority of their economic activity in recognised countries, or in fixed-income or floating-rate securities, convertible bonds and bonds with warrants from issuers from recognised countries. Depending on market conditions, the Sub-fund may temporarily deviate from this equity ratio in so far as it is in the interests of investors, and invest in money market instruments with an investment grade rating at the time of purchase. Up to a maximum 15% of the net assets of Bellevue Sustainable Healthcare can be invested in warrants on shares or other securities. Purchases of warrants involve higher risks due to the increased volatility of these investments. Subject to being compliant with the limits and conditions defined by the CSSF, Bellevue Sustainable Healthcare may use derivative instruments in order to achieve an efficient portfolio management, in particular also for hedging purposes. The sub-fund may also invest up 10% of its net assets in units of UCITS and other UCIs. The sub-fund may invest up to 10% of its net assets in securities in accordance with Article 41 (2) (a) of the Law of 2010 and/or other unlisted securities in order to take advantage of investment opportunities in especially innovative projects in the healthcare sector. The company may in addition hold an adequate level of liquid assets for Bellevue Sustainable Healthcare. Bellevue Sustainable Healthcare is denominated in US dollars.