BNP PARIBAS EASY II Short Duration Income Opportunities UCITS ETF - USD ACC ETF

To seek to provide income, in USD, from an actively managed portfolio of investment grade bonds. The Fund is actively managed in reference to the Bloomberg Global Aggregate Corporate 1-3 Yrs Total Return Index Hedged USD (the 'Benchmark') in order to capture opportunities in the global investment grade bond market. The Fund will invest primarily in short duration investment grade bonds issued by governments, companies or public institutions (i.e. bonds which are rated at least BBB- by Standard & Poor's or equivalent ratings by Moody's or Fitch or, if unrated, judged equivalent to those ratings by the Investment Manager) that are mainly listed or traded on global developed markets and denominated in USD, GBP and EUR (exposure of the Fund's assets in non-USD currency will be hedged against USD). The Fund may also invest in callable bonds. It may also invest in 144A securities where considered to offer the best opportunity for the Fund, and may be fully invested in these securities. The Fund seeks to maintain a duration of less than four years, although under certain market conditions, such as in periods of significant volatility in interest rates, the Fund's duration may be longer than four years. Duration is a measure of the price sensitivity of a debt security or a portfolio of debt securities to changes in relevant interest rates. For instance, a duration of four means that a security's or portfolio's price would be expected to decrease by approximately 4% with a 1% increase in interest rates.