L&G Developed Markets High Yield Bond Fund - W EUR DIS H Fonds

The objective of the Fund is to provide a combination of capital growth and income over the long term. The Fund is actively managed and seeks to achieve this objective by investing at least 80% of its assets in a broad range of fixed income securities from developed markets. The Fund is managed with reference to the ICE BofA BB-B Non-Financial Developed Markets High Yield Constrained Index (Hedged to USD), the 'Benchmark Index'. The Investment Manager has broad discretion over the composition of the Fund's portfolio, will not be tied to investing in the constituents of any index and will use its discretion with regards to selecting the companies, sectors, and geographical exposure of the Fund's holdings. The Benchmark Index is used for performance comparison purposes and does not constrain the Fund's portfolio construction. The degree to which the composition of the Fund's portfolio may deviate from the Benchmark Index will vary over time.