BlueBay Investment Grade Absolute Return Bond Fund - Q USD DIS H Fonds

The Sub-Fund is actively managed and targets better returns than its benchmark, a composite index comprised 50% of JP Morgan Emerging Markets Bond Index Global Diversified and 50% JP Morgan Government Bond Index - Emerging Markets Global Diversified (GBI-EM Global Diversified), USD unhedged while taking into account ESG considerations. There are no restrictions on the extent to which the Sub-Fund's portfolio and performance may deviate from the ones of the benchmark. As part of the investment process, the Investment Manager has full discretion, within its investment policy, over the composition of the Sub-Fund's portfolio and may take exposure to companies, countries or sectors not included in the benchmark. The Sub-Fund invests in fixed income securities of Emerging Market Issuers denominated in any currency. The Sub-Fund invests at least two-thirds of its net assets in fixed income securities of any rating issued by Emerging Market Issuers, which may be denominated in any currency, and in Distressed Debt Securities of Emerging Market Issuers. The Sub-Fund takes active exposure to Hard Currency and Local Currency investments. The Sub-Fund will vary the proportion invested in Hard Currency instruments and Local Currency instruments according to the investment view of the Investment Manager in relation to the relevant instruments, taking into consideration in particular the credit rating, the currency (in the case of Local Currency instruments only) and the interest rate of such instruments. The Sub-Fund may invest up to 10% of its net assets into Distressed Debt Securities.