responsAbility SICAV (Lux) Micro and SME Finance Debt Fund - I EUR DIS H Fonds

The investments in this Sub-fund are actively managed. The Sub-fund has a sustainable investment objective (within the meaning of Article 9 of Regulation (EU) 2019/2088). Details are available in the prospectus and the ESG website disclosure of the Sub-fund. The amounts entrusted to the Sub-fund aim to achieve a real increase in value over the long term as well as at contributing to the development of the financial sector in developing and emerging countries and by doing so enhancing the access to financial services to promote entrepreneurial activity, boost the economy and/or create employment. To this end, the assets of the Sub-fund shall be invested, in accordance with the principle of risk diversification, in securities and other investments. The Sub-fund invests its money so that local, successful, respectively promising financial service providers can provide specific financial services to micro, small and medium-sized enterprises over the long term and, depending on demand, are in a position to achieve meaningful growth. The analysis of the investment targets is part of a quantitative rating system. The Sub-fund may invest in the following investment categories: debt securities, liquidity/money market, securities of various types and, in exceptional cases and to a limited extent only, in private equity capital. To a limited extent, the Sub-fund may also use guarantee instruments to activate local financial resources for financial institutions focused on micro, small and medium-sized enterprises (''MSME focused Fis''). The Sub-fund invests primarily in different types of debt instruments. Not more than 10% of the Sub-fund's assets may be invested either directly or indirectly in private equity capital, and such investments may be made only in exceptional cases. Solely in order to finance foreseeable liquidity shortfalls, the Sub-fund may take up loans on a temporary basis provided these do not total more than 25% of its assets. The Sub-fund does not aim at a constant average duration of capital tie-up for its investments. Typically, this period will be between two and three years. The beneficiary institutions are usually domiciled in developing and transition countries, primarily in the following regions: Latin America, Africa, Central and Eastern Europe, and Asia. The Sub-fund's investments are usually in US dollars or euros. To a limited extent, investments may be made in freely convertible local currencies of the target countries (non-OECD area). The Sub-fund uses derivative transactions for the purposes of hedging interest rate and currency risk.