Rothschild & Co Asset Management R-co Target 2030 IG

The sub-fund's management objective, at the time of subscription and until 12/31/2030, is to achieve a performance net of fees linked to current yields on bonds maturing in 2030, by investing exclusively in “Investment Grade” (non-speculative) securities. The average maturity of the portfolio is between January and December 2030.The sub-fund's investment strategy is not limited to carrying bonds: while the management company will tend to hold securities until maturity, it may arbitrate in the event of an increase in the risk of default by one of the issuers in the portfolio, and/or in the event of new market opportunities, in order to optimize the portfolio's average yield to maturity. The credit risk exposure strategy will be implemented through direct investments. The sub-fund will invest between 80% and 100% of net assets in fixed-rate, floating-rate or revisable bonds and other negotiable debt securities, inflation-indexed bonds issued by private companies and/or supranational/public entities or governments, and negotiable medium-term notes, including a maximum of 10% of net assets in convertible bonds. Securities denominated in currencies other than the euro will be limited to a maximum of 10% of net assets. Eligible securities in the portfolio may be from any geographic region, including emerging countries. However, the sub-fund may only hold issues by companies headquartered outside the OECD up to a maximum of 10% of net assets. At least 80% of the sub-fund's net assets will be invested in Investment Grade securities. The sub-fund may also be exposed, up to a maximum of 10% of net assets, to speculative high-yield bonds following a rating change, as the sub-fund does not seek to invest in speculative bonds. Shareholders investing in euros are exposed to currency risk up to a maximum of 10% of the sub-fund's net assets. Portfolio sensitivity ranges from 0 to 6. This sensitivity is likely to decrease as maturity approaches. The sub-fund may also invest in foreign money-market and bond UCITS, FIAs or investment funds up to a maximum of 10% of net assets, and in money-market securities up to a maximum of 10% of net assets, for cash management purposes. However, as an exception to the foregoing, the sub-fund will benefit from flexibility with regard to compliance with statutory ratios for a maximum period of 6 months from the date of its creation, in order to build up its portfolio as best it can in response to market opportunities.