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292.634 603.271 l
289.091 603.487 l
285.661 602.002 l
282.113 600.463 l
278.683 603.109 l
275.139 600.031 l
271.596 600.193 l
268.166 599.14 l
264.622 595.981 l
261.193 593.092 l
257.654 592.741 l
254.453 590.041 l
250.909 587.179 l
247.366 586.774 l
243.936 587.287 l
240.388 583.21 l
236.958 580.915 l
233.415 582.454 l
232.5 579.889 l
S
1 0.84 0.31 0.17 K
[4 2 ]0 d
546.757 660.997 m
543.213 664.102 l
539.669 662.752 l
536.24 655.732 l
532.691 655.57 l
529.262 655.921 l
525.718 658.756 l
522.174 650.521 l
518.745 644.716 l
515.201 641.017 l
511.771 626.545 l
508.232 650.278 l
504.917 648.091 l
501.374 641.773 l
497.83 641.773 l
494.4 641.881 l
490.852 641.368 l
487.422 643.906 l
483.879 637.102 l
480.335 634.915 l
476.905 629.137 l
473.362 626.626 l
469.937 625.465 l
466.393 619.417 l
463.192 618.823 l
459.649 613.693 l
456.105 611.128 l
452.675 612.613 l
449.127 615.961 l
445.697 617.608 l
442.154 616.933 l
438.61 615.691 l
435.18 617.311 l
431.637 616.987 l
428.207 619.228 l
424.668 619.282 l
421.467 622.981 l
417.924 625.573 l
414.38 624.358 l
410.95 625.087 l
407.402 623.575 l
403.972 624.898 l
400.429 622.954 l
396.885 621.253 l
393.455 621.712 l
389.912 619.309 l
386.482 616.906 l
382.943 617.743 l
379.742 614.341 l
376.199 614.449 l
372.655 612.775 l
369.225 619.768 l
365.677 622.765 l
362.247 623.791 l
358.704 622.819 l
355.16 618.175 l
351.731 612.964 l
348.187 612.721 l
344.757 609.913 l
341.218 603.622 l
337.903 602.191 l
334.359 601.084 l
330.816 603.352 l
327.386 603.136 l
323.838 601.408 l
320.408 600.814 l
316.864 602.758 l
313.321 600.463 l
309.891 605.701 l
306.347 607.024 l
302.918 608.86 l
299.379 608.158 l
296.178 610.075 l
292.634 602.623 l
289.091 602.029 l
285.661 599.896 l
282.113 597.709 l
278.683 600.328 l
275.139 596.44 l
271.596 596.035 l
268.166 595.468 l
264.622 592.066 l
261.193 589.15 l
257.654 588.745 l
254.453 586.504 l
250.909 582.13 l
247.366 582.886 l
243.936 583.21 l
240.388 579.511 l
236.958 577.621 l
233.415 579.106 l
232.5 579.889 l
S
0 0.97 1 0.5 K
[]0 d
546.757 614.449 m
543.213 614.719 l
539.669 612.289 l
536.24 604.459 l
532.691 602.029 l
529.262 604.189 l
525.718 602.839 l
522.174 595.819 l
518.745 590.959 l
515.201 583.939 l
511.771 567.739 l
508.232 597.169 l
504.917 602.299 l
501.374 602.569 l
497.83 599.329 l
494.4 598.249 l
490.852 595.819 l
487.422 595.009 l
483.879 596.899 l
480.335 595.819 l
476.905 590.689 l
473.362 594.199 l
469.937 590.959 l
466.393 590.419 l
463.192 588.259 l
459.649 582.859 l
456.105 585.019 l
452.675 588.799 l
449.127 591.499 l
445.697 589.879 l
442.154 591.229 l
438.61 587.449 l
435.18 588.799 l
431.637 591.499 l
428.207 591.229 l
424.668 593.929 l
421.467 595.549 l
417.924 593.389 l
414.38 592.309 l
410.95 593.389 l
407.402 591.499 l
403.972 589.609 l
400.429 590.959 l
396.885 589.609 l
393.455 589.609 l
389.912 588.259 l
382.943 588.259 l
379.742 587.449 l
376.199 586.909 l
372.655 585.289 l
369.225 585.829 l
365.677 585.019 l
362.247 585.829 l
358.704 584.479 l
355.16 579.079 l
351.731 581.509 l
348.187 582.589 l
344.757 579.079 l
341.218 571.249 l
337.903 573.949 l
334.359 579.079 l
330.816 581.509 l
327.386 580.969 l
323.838 577.999 l
320.408 580.969 l
316.864 584.209 l
313.321 584.209 l
309.891 586.639 l
306.347 586.369 l
302.918 586.369 l
299.379 588.259 l
296.178 585.559 l
292.634 586.099 l
289.091 587.179 l
285.661 587.989 l
282.113 589.609 l
278.683 590.689 l
275.139 591.229 l
271.596 590.959 l
268.166 589.879 l
264.622 589.609 l
261.193 588.259 l
257.654 587.179 l
254.453 585.559 l
250.909 585.559 l
247.366 582.589 l
243.936 582.589 l
240.388 580.159 l
236.958 579.079 l
233.415 579.349 l
232.5 579.889 l
S
q
226.5 487.389 8 45.5 re
W n
3 w
226.5 532.889 m
234.5 532.889 l
S
Q
BT
8 0 0 8 237.5 526.8892 Tm
0 0 0 1 k
-0.025 Tc
(Goldman Sachs Global Credit )Tj
0 -1.25 TD
(Portfolio \(Hedged\) Class I )Tj
T*
(Shares \(Acc.\) \(EUR-Hedged\) )Tj
T*
(\(Duration-Hedged\))Tj
/F2 1 Tf
4 0 0 4 293.652 499.9892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
337.5 487.389 4 45.5 re
W n
1 0.84 0.31 0.17 K
3 w
337.5 532.889 m
341.5 532.889 l
S
Q
q
343.5 487.389 4 45.5 re
W n
1 0.84 0.31 0.17 K
3 w
343.5 532.889 m
347.5 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 350.5 526.8892 Tm
-0.025 Tc
(Bloomberg Barclays Global )Tj
T*
(Aggregate - Corporates Index )Tj
T*
(\(TR,100% Hedged to EUR\))Tj
/F2 1 Tf
4 0 0 4 427.228 509.9892 Tm
-0.05 Tc
(\(3\))Tj
ET
q
450.5 487.389 8 45.5 re
W n
0 0 0 0.5 K
3 w
450.5 532.889 m
458.5 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 461.5 526.8892 Tm
-0.025 Tc
(Morningstar Global Corporate )Tj
T*
(Bond - EUR Hedged)Tj
/F2 1 Tf
4 0 0 4 521.204 519.9892 Tm
-0.05 Tc
(\(1\))Tj
8 0 0 8 212.5 481.3892 Tm
0 Tc
(This is an actively managed fund that is not designed to track its reference benchmark. Therefore the performance of the )Tj
T*
(fund and the performance of its reference benchmark may diverge. In addition stated reference benchmark returns do not )Tj
T*
(reect any management or other charges to the fund, whereas stated returns of the fund do.)Tj
/F5 1 Tf
33.316 0 TD
( Past performance does not )Tj
-33.316 -1.25 TD
[(guarantee future results, which may vary)37(. The value of investments and the income derived from investments )]TJ
T*
[(will uctuate and can go down as well as up. A loss of capital may occur)70(.)]TJ
ET
q
212.5 412.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 428.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 417.8892 Tm
0 0 0 0 k
-0.015 Tc
(Performance Summary \(%\))Tj
/F5 1 Tf
8 0 0 8 398.052 400.8893 Tm
0 0 0 1 k
-0.025 Tc
[(Cumulative)-9389(Annualised)]TJ
/F2 1 Tf
-6.419 -1.625 TD
[(Since Launch)-1709(1 Mth)-1345(3 Mths)-2325(YTD)]TJ
ET
q
477.5 383.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 396.389 m
481.5 371.389 l
S
Q
BT
8 0 0 8 491.748 387.8892 Tm
(1 Y)Tj
ET
q
0.2 i
482.5 383.389 20 11 re
W n
BT
8 0 0 8 500.476 387.8892 Tm
0 Tc
(r)Tj
ET
Q
BT
8 0 0 8 518.836 387.8892 Tm
[(3 Yrs)-2042(5 Yrs)]TJ
ET
q
212.5 359.889 130 23.5 re
W n
0.132 0.08 0.028 0 k
212.5 383.389 130 -23.5 re
f
Q
BT
8 0 0 8 217.5 374.8892 Tm
(Class I Shares \(Acc.\) \(EUR-Hedged\) \(Duration-)Tj
0 -1.3125 TD
(Hedged\))Tj
4 0 0 4 240.084 367.8892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
342.5 359.889 45 23.5 re
W n
0.132 0.08 0.028 0 k
342.5 383.389 45 -23.5 re
f
Q
BT
8 0 0 8 367.516 374.8892 Tm
-0.025 Tc
(12.80)Tj
ET
q
387.5 359.889 30 23.5 re
W n
0.132 0.08 0.028 0 k
387.5 383.389 30 -23.5 re
f
Q
BT
8 0 0 8 397.716 374.8892 Tm
(\(0.09\))Tj
ET
q
417.5 359.889 30 23.5 re
W n
0.132 0.08 0.028 0 k
417.5 383.389 30 -23.5 re
f
Q
BT
8 0 0 8 430.868 374.8892 Tm
(3.39)Tj
ET
q
447.5 359.889 30 23.5 re
W n
0.132 0.08 0.028 0 k
447.5 383.389 30 -23.5 re
f
Q
BT
8 0 0 8 457.716 374.8892 Tm
(\(0.09\))Tj
ET
q
477.5 359.889 5 23.5 re
W n
0.132 0.08 0.028 0 k
477.5 383.389 5 -23.5 re
f
0 0 0 1 K
1 w [2 2 ]2 d
481.5 383.389 m
481.5 358.389 l
S
Q
q
482.5 359.889 25 23.5 re
W n
0.132 0.08 0.028 0 k
482.5 383.389 25 -23.5 re
f
Q
BT
8 0 0 8 490.868 374.8892 Tm
(4.1)Tj
ET
q
0.2 i
482.5 370.389 20 11 re
W n
BT
8 0 0 8 499.148 374.8892 Tm
0 Tc
(4)Tj
ET
Q
q
507.5 359.889 30 23.5 re
W n
0.132 0.08 0.028 0 k
507.5 383.389 30 -23.5 re
f
Q
BT
8 0 0 8 520.868 374.8892 Tm
(2.16)Tj
ET
q
537.5 359.889 30 23.5 re
W n
0.132 0.08 0.028 0 k
537.5 383.389 30 -23.5 re
f
Q
BT
8 0 0 8 550.868 374.8892 Tm
(2.89)Tj
-41.671 -2.9375 TD
(Bloomberg Barclays Global Aggregate - )Tj
0 -1.3125 TD
(Corporates Index \(TR,100% Hedged to EUR\))Tj
4 0 0 4 335.212 344.3892 Tm
-0.05 Tc
(\(3\))Tj
8 0 0 8 367.516 351.3892 Tm
-0.025 Tc
(30.0)Tj
ET
q
0.2 i
342.5 346.889 40 11 re
W n
BT
8 0 0 8 379.148 351.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 397.716 351.3892 Tm
[(\(0.88\))-2296(1.53)-1902(\(0.88\))]TJ
ET
q
477.5 336.389 5 23.5 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 359.889 m
481.5 334.889 l
S
Q
BT
8 0 0 8 490.868 351.3892 Tm
[(3.81)-2296(3.89)-2296(3.73)]TJ
ET
0.132 0.08 0.028 0 k
212.5 336.389 130 -23.5 re
f
BT
8 0 0 8 217.5 327.8892 Tm
0 0 0 1 k
(Morningstar Global Corporate Bond - EUR )Tj
T*
(Hedged)Tj
4 0 0 4 238.508 320.8892 Tm
-0.05 Tc
(\(1\))Tj
ET
q
342.5 312.889 45 23.5 re
W n
0.132 0.08 0.028 0 k
342.5 336.389 45 -23.5 re
f
Q
q
387.5 312.889 30 23.5 re
W n
0.132 0.08 0.028 0 k
387.5 336.389 30 -23.5 re
f
Q
BT
8 0 0 8 397.716 327.8892 Tm
-0.025 Tc
(\(0.64\))Tj
ET
0.132 0.08 0.028 0 k
417.5 336.389 30 -23.5 re
f
BT
8 0 0 8 430.868 327.8892 Tm
0 0 0 1 k
(1.75)Tj
ET
0.132 0.08 0.028 0 k
447.5 336.389 30 -23.5 re
f
BT
8 0 0 8 457.716 327.8892 Tm
0 0 0 1 k
(\(0.64\))Tj
ET
q
477.5 312.889 5 23.5 re
W n
0.132 0.08 0.028 0 k
477.5 336.389 5 -23.5 re
f
0 0 0 1 K
1 w [2 2 ]2 d
481.5 336.389 m
481.5 311.389 l
S
Q
0.132 0.08 0.028 0 k
482.5 336.389 25 -23.5 re
f
BT
8 0 0 8 490.868 327.8892 Tm
0 0 0 1 k
(3.71)Tj
ET
0.132 0.08 0.028 0 k
507.5 336.389 30 -23.5 re
f
BT
8 0 0 8 520.868 327.8892 Tm
0 0 0 1 k
(3.05)Tj
ET
0.132 0.08 0.028 0 k
537.5 336.389 30 -23.5 re
f
BT
8 0 0 8 550.868 327.8892 Tm
0 0 0 1 k
(3.22)Tj
-41.671 -2.9375 TD
(Quartile Position in Sector)Tj
4 0 0 4 287.62 307.8892 Tm
-0.05 Tc
(\(1\))Tj
8 0 0 8 409.148 304.3892 Tm
3.306 Tc
(111)Tj
ET
q
477.5 299.889 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 312.889 m
481.5 287.889 l
S
Q
BT
8 0 0 8 499.148 304.3892 Tm
0 Tc
(2)Tj
ET
q
0.2 i
507.5 299.889 25 11 re
W n
BT
8 0 0 8 529.148 304.3892 Tm
(4)Tj
ET
Q
BT
8 0 0 8 559.1479 304.3892 Tm
(3)Tj
ET
q
212.5 277.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 293.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 282.8892 Tm
0 0 0 0 k
-0.015 Tc
(Calendar Year Performance \(%\))Tj
/F2 1 Tf
8 0 0 8 449.092 268.8892 Tm
0 0 0 1 k
-0.025 Tc
[(2016)-1449(2017)-1449(2018)-1449(2019)-1449(2020)]TJ
ET
0.132 0.08 0.028 0 k
212.5 264.389 230 -13 re
f
BT
8 0 0 8 217.5 255.8892 Tm
0 0 0 1 k
(Class I Shares \(Acc.\) \(EUR-Hedged\) \(Duration-Hedged\))Tj
ET
q
442.5 251.389 25 13 re
W n
0.132 0.08 0.028 0 k
442.5 264.389 25 -13 re
f
Q
BT
8 0 0 8 454.22 255.8892 Tm
(2.9)Tj
ET
0.132 0.08 0.028 0 k
467.5 264.389 25 -13 re
f
BT
8 0 0 8 479.22 255.8892 Tm
0 0 0 1 k
(2.3)Tj
ET
q
492.5 251.389 25 13 re
W n
0.132 0.08 0.028 0 k
492.5 264.389 25 -13 re
f
Q
BT
8 0 0 8 502.196 255.8892 Tm
(-3.7)Tj
ET
0.132 0.08 0.028 0 k
517.5 264.389 25 -13 re
f
BT
8 0 0 8 529.22 255.8892 Tm
0 0 0 1 k
(7.2)Tj
ET
q
542.5 251.389 25 13 re
W n
0.132 0.08 0.028 0 k
542.5 264.389 25 -13 re
f
Q
BT
8 0 0 8 554.22 255.8892 Tm
(4.2)Tj
-42.09 -1.625 TD
(Bloomberg Barclays Global Aggregate - Corporates Index \(TR,100% Hedged to )Tj
0 -1.3125 TD
(EUR\))Tj
29.59 1.3125 TD
[(4.6)-2090(3.7)-1837(-3.8)-2090(9.2)-2090(6.7)]TJ
/F5 1 Tf
-29.59 -12.9237 TD
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21.)Tj
0 -1.3125 TD
0 Tc
[(Past performance does not guarantee future results, which may vary)37(.)]TJ
/F2 1 Tf
0 -1.25 TD
[(* W)18(e)0( identify two broad categories of funds to help investors think about how to construct their overall investment )]TJ
T*
[(portfolio. W)18(e)0( describe the following as)]TJ
/F5 1 Tf
14.085 0 TD
( Core)Tj
/F2 1 Tf
2.999 0 TD
(: \(A\) Equity funds with a global investment remit or those mainly focused )Tj
-17.084 -1.25 TD
(on US and European markets, given the size and transparency of these markets. \(B\) Fixed income funds with a global )Tj
T*
(investment remit or those mainly focused on US, European and UK markets and invest predominantly in investment )Tj
T*
(grade debt, including government. \(C\) Multi asset funds with a multi asset benchmark. All other funds we describe as)Tj
/F5 1 Tf
42.368 0 TD
( )Tj
-42.368 -1.25 TD
(Complements)Tj
/F2 1 Tf
6.388 0 TD
(. Both Core and Complement funds can vary in risk level and those terms are not meant to indicate the )Tj
-6.388 -1.25 TD
(risk level of the funds. There is no guarantee that these objectives will be met.)Tj
T*
(For regionally focused investment portfolios we understand that the categorisation may be different from the perspective )Tj
T*
(of different investors.)Tj
/F5 1 Tf
7.775 0 TD
( Consult your nancial adviser before investing to help determine if an investment in this )Tj
ET
q
0.2 i
217.5 24.5 350 110.5 re
W n
BT
8 0 0 8 217.5 29 Tm
(f)Tj
ET
Q
BT
8 0 0 8 219.724 29 Tm
(und and the amount of the investment would be suitable)Tj
/F2 1 Tf
22.61 0 TD
(.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
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BT
/F4 1 Tf
10 0 0 10 31.5 467.8892 Tm
0 0 0 0 k
-0.015 Tc
(Fund Facts)Tj
/F2 1 Tf
8 0 0 8 32.5 450.8892 Tm
0 0 0 1 k
-0.025 Tc
(ISIN - Class I Shares \(Acc.\) \(EUR-)Tj
0 -1.3125 TD
(Hedged\) \(Duration-Hedged\))Tj
14.915 1.3125 TD
(LU0949335011)Tj
ET
q
0.6 i
27.5 412.389 115 23.5 re
W n
0.132 0.08 0.028 0 k
27.5 435.889 115 -23.5 re
f
Q
BT
8 0 0 8 32.5 427.3892 Tm
(Bloomberg Ticker - Class I Shares \(Acc.\) )Tj
0 -1.3125 TD
(\(EUR-Hedged\) \(Duration-Hedged\))Tj
ET
q
0.6 i
142.5 412.389 55 23.5 re
W n
0.132 0.08 0.028 0 k
142.5 435.889 55 -23.5 re
f
Q
BT
8 0 0 8 161.612 427.3892 Tm
(GSGCIIE L)Tj
ET
q
0.2 i
142.5 422.889 50 11 re
W n
BT
8 0 0 8 188.7 427.3892 Tm
0 Tc
(X)Tj
ET
Q
BT
8 0 0 8 32.5 403.8893 Tm
[(Dividend Distribution Frequency)-7437(None)]TJ
ET
q
0.6 i
27.5 386.389 115 13 re
W n
0.132 0.08 0.028 0 k
27.5 399.389 115 -13 re
f
Q
BT
8 0 0 8 32.5 390.8892 Tm
(Dealing and valuation)Tj
ET
q
0.6 i
142.5 386.389 55 13 re
W n
0.132 0.08 0.028 0 k
142.5 399.389 55 -13 re
f
Q
BT
8 0 0 8 178.836 390.8892 Tm
(Dail)Tj
ET
q
0.2 i
142.5 386.389 50 11 re
W n
BT
8 0 0 8 189.588 390.8892 Tm
0 Tc
(y)Tj
ET
Q
BT
8 0 0 8 32.5 377.8892 Tm
[(Reporting year end)-9065(30 Novembe)]TJ
ET
q
0.2 i
142.5 373.389 50 11 re
W n
BT
8 0 0 8 190.476 377.8892 Tm
0 Tc
(r)Tj
ET
Q
0.132 0.08 0.028 0 k
27.5 373.389 50 -34 re
f
BT
8 0 0 8 32.5 364.8892 Tm
0 0 0 1 k
(Reference )Tj
T*
(Benchmark)Tj
ET
q
0.6 i
77.5 339.389 120 34 re
W n
0.132 0.08 0.028 0 k
77.5 373.389 120 -34 re
f
Q
BT
8 0 0 8 86.172 364.8892 Tm
(Bloomberg Barclays Global Aggregate - )Tj
0.396 -1.3125 TD
(Corporates Index \(TR,100% Hedged to )Tj
11.273 -1.3125 TD
(EUR\))Tj
-18.378 -1.625 TD
[(Settlement)-14600(T + 3)]TJ
ET
q
0.6 i
212.5 697.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 714.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 703.3892 Tm
0 0 0 0 k
-0.015 Tc
(Sector Allocation \(%\))Tj
ET
q
0.6 i
397.5 697.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
397.5 714.389 170 -16.5 re
f
Q
BT
10 0 0 10 401.5 703.3892 Tm
(Geographical Bond Allocation \(%\))Tj
ET
q
0.2 i
254 683.889 18 8 re
W n
0 0 0 1 K
0 J 0 j 0.5 w 10 M []0 d
/GS2 gs
270.846 685.91 m
262.45 689.837 254.582 689.142 y
254.5 691.889 m
254.5 686.272 l
269.281 688.483 m
271.19 685.895 l
268.035 684.594 l
S
Q
0 0.97 1 0.5 k
/GS2 gs
0.6 i
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 654.664 222.657 656.435 222.97 658.181 c
h
252.5 652.889 m
f
0 0 0 0 K
0 J 0 j 0.1 w 10 M []0 d
/GS1 gs
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 654.664 222.657 656.435 222.97 658.181 c
h
252.5 652.889 m
S
252.5 652.889 m
222.97 658.181 l
223.403 660.594 224.129 662.944 225.133 665.18 c
h
252.5 652.889 m
f
252.5 652.889 m
222.97 658.181 l
223.403 660.594 224.129 662.944 225.133 665.18 c
h
252.5 652.889 m
S
252.5 652.889 m
225.133 665.18 l
225.957 667.014 226.963 668.76 228.136 670.393 c
h
252.5 652.889 m
f
252.5 652.889 m
225.133 665.18 l
225.957 667.014 226.963 668.76 228.136 670.393 c
h
252.5 652.889 m
S
252.5 652.889 m
228.136 670.393 l
228.832 671.362 229.585 672.288 230.391 673.168 c
h
252.5 652.889 m
f
252.5 652.889 m
228.136 670.393 l
228.832 671.362 229.585 672.288 230.391 673.168 c
h
252.5 652.889 m
S
252.5 652.889 m
230.391 673.168 l
230.816 673.63 231.254 674.079 231.707 674.514 c
h
252.5 652.889 m
f
252.5 652.889 m
230.391 673.168 l
230.816 673.63 231.254 674.079 231.707 674.514 c
h
252.5 652.889 m
S
252.5 652.889 m
231.707 674.514 l
237.295 679.888 244.747 682.889 252.5 682.889 c
h
252.5 652.889 m
f
252.5 652.889 m
231.707 674.514 l
237.295 679.888 244.747 682.889 252.5 682.889 c
h
252.5 652.889 m
S
0 0 0 0 k
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
f
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
S
BT
/F5 1 Tf
6 0 0 6 290.508 687.3892 Tm
0 0.97 1 0.5 k
-0.0333 Tc
(77.9)Tj
ET
q
0.2 i
287.5 683.889 16 8 re
W n
BT
6 0 0 6 299.032 687.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 687.3892 Tm
0 0 0 1 k
(Corporates - Inv. Grade)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(3.9)Tj
ET
q
0.2 i
287.5 674.889 16 8 re
W n
BT
6 0 0 6 299.032 678.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 678.3892 Tm
0 0 0 1 k
(Emerging Market Debt)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(3.2)Tj
ET
q
0.2 i
287.5 665.889 16 8 re
W n
BT
6 0 0 6 299.032 669.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 669.3892 Tm
0 0 0 1 k
(Corporates - High Yield)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(1.9)Tj
ET
q
0.2 i
287.5 656.889 16 8 re
W n
BT
6 0 0 6 299.032 660.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 660.3892 Tm
0 0 0 1 k
(Asset-Backed Securities )Tj
ET
q
0.2 i
307.5 656.889 75 8 re
W n
BT
6 0 0 6 363.684 660.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 365.152 660.3892 Tm
(ABS)Tj
ET
q
0.2 i
307.5 656.889 75 8 re
W n
BT
6 0 0 6 375.22 660.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 651.3892 Tm
0 0.97 1 0.5 k
(1.0)Tj
ET
q
0.2 i
287.5 647.889 16 8 re
W n
BT
6 0 0 6 299.032 651.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 651.3892 Tm
0 0 0 1 k
(Quasi-Governments)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(0.0)Tj
ET
q
0.2 i
287.5 638.889 16 8 re
W n
BT
6 0 0 6 299.032 642.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 642.3892 Tm
0 0 0 1 k
(Residential Mortgages )Tj
ET
q
0.2 i
307.5 638.889 75 8 re
W n
BT
6 0 0 6 358.756 642.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 360.224 642.3892 Tm
(RMBS)Tj
ET
q
0.2 i
307.5 638.889 75 8 re
W n
BT
6 0 0 6 374.76 642.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 633.3892 Tm
0 0.97 1 0.5 k
(0.0)Tj
ET
q
0.2 i
287.5 629.889 16 8 re
W n
BT
6 0 0 6 299.032 633.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 633.3892 Tm
0 0 0 1 k
(Commercial Mortgages )Tj
ET
q
0.2 i
307.5 629.889 75 8 re
W n
BT
6 0 0 6 360.954 633.3892 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 362.422 633.3892 Tm
(CMBS)Tj
ET
q
0.2 i
307.5 629.889 75 8 re
W n
BT
6 0 0 6 376.958 633.3892 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 290.508 624.3892 Tm
0 0.97 1 0.5 k
(12.2)Tj
ET
q
0.2 i
287.5 620.889 16 8 re
W n
BT
6 0 0 6 299.032 624.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 624.3892 Tm
0 0 0 1 k
(Cash)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.721 -1.5 TD
(-0.1)Tj
ET
q
0.2 i
287.5 611.889 16 8 re
W n
BT
6 0 0 6 299.032 615.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 615.3892 Tm
0 0 0 1 k
(Derivatives)Tj
ET
q
0.2 i
439 683.889 18 8 re
W n
0 0 0 1 K
0.5 w
/GS2 gs
455.846 685.91 m
447.45 689.837 439.582 689.142 y
439.5 691.889 m
439.5 686.272 l
454.281 688.483 m
456.19 685.895 l
453.035 684.594 l
S
Q
0 0.97 1 0.5 k
/GS2 gs
437.5 652.889 m
437.5 682.889 l
454.069 682.889 467.5 669.458 467.5 652.889 c
467.5 636.321 454.069 622.889 437.5 622.889 c
424.155 622.889 412.414 631.704 408.691 644.52 c
h
437.5 652.889 m
f
/GS1 gs
437.5 652.889 m
437.5 682.889 l
454.069 682.889 467.5 669.458 467.5 652.889 c
467.5 636.321 454.069 622.889 437.5 622.889 c
424.155 622.889 412.414 631.704 408.691 644.519 c
h
437.5 652.889 m
S
437.5 652.889 m
408.691 644.52 l
404.232 659.868 412.589 676.017 427.693 681.241 c
h
437.5 652.889 m
f
437.5 652.889 m
408.691 644.519 l
404.232 659.868 412.589 676.016 427.693 681.241 c
h
437.5 652.889 m
S
437.5 652.889 m
427.693 681.241 l
430.848 682.332 434.162 682.889 437.5 682.889 c
h
437.5 652.889 m
f
437.5 652.889 m
427.693 681.241 l
430.848 682.332 434.162 682.889 437.5 682.889 c
h
437.5 652.889 m
S
0 0 0 0 k
452.5 652.889 m
452.5 661.173 445.784 667.889 437.5 667.889 c
429.216 667.889 422.5 661.173 422.5 652.889 c
422.5 644.605 429.216 637.889 437.5 637.889 c
445.784 637.889 452.5 644.605 452.5 652.889 c
f
452.5 652.889 m
452.5 661.173 445.784 667.889 437.5 667.889 c
429.216 667.889 422.5 661.173 422.5 652.889 c
422.5 644.605 429.216 637.889 437.5 637.889 c
445.784 637.889 452.5 644.605 452.5 652.889 c
S
BT
/F5 1 Tf
6 0 0 6 475.508 687.3892 Tm
0 0.97 1 0.5 k
(70.5)Tj
ET
q
0.2 i
472.5 683.889 16 8 re
W n
BT
6 0 0 6 484.032 687.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 687.3892 Tm
0 0 0 1 k
(US)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.832 -1.5 TD
(24.2)Tj
ET
q
0.2 i
472.5 674.889 16 8 re
W n
BT
6 0 0 6 484.032 678.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 678.3892 Tm
0 0 0 1 k
(Eurozone)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.5 TD
(5.3)Tj
ET
q
0.2 i
472.5 665.889 16 8 re
W n
BT
6 0 0 6 484.032 669.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 492.5 669.3892 Tm
0 0 0 1 k
(UK)Tj
ET
q
212.5 577.389 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 593.889 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 582.8892 Tm
0 0 0 0 k
-0.015 Tc
(Credit Allocation \(%\))Tj
ET
q
397.5 577.389 170 16.5 re
W n
0.53 0.32 0.11 0 k
397.5 593.889 170 -16.5 re
f
Q
BT
10 0 0 10 401.5 582.8892 Tm
(Top 10 Corporate Issuers)Tj
/F5 1 Tf
6.5 0 0 6.5 516.26 585.5892 Tm
0 Tc
(\(5\))Tj
ET
0 0 0 0.4 K
0.2 w
284.5 456.834 m
379.5 456.834 l
284.5 471.278 m
379.5 471.278 l
284.5 485.723 m
379.5 485.723 l
284.5 500.167 m
379.5 500.167 l
284.5 514.611 m
379.5 514.611 l
284.5 529.056 m
379.5 529.056 l
284.5 543.5 m
379.5 543.5 l
284.5 557.945 m
379.5 557.945 l
284.5 572.389 m
379.5 572.389 l
S
0.38 0.27 0.07 0 k
303.5 442.889 m
303.5 449.611 l
303.5 442.889 l
f
BT
/F2 1 Tf
5 0 0 5 308.17 444.2504 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
303.405 456.334 0.095 -6.722 re
f
BT
5 0 0 5 291.38 450.9726 Tm
/Cs7 cs 0 scn
(-0.1 )Tj
ET
0.38 0.27 0.07 0 k
303.5 457.334 m
303.5 464.056 l
303.5 457.334 l
f
BT
5 0 0 5 308.17 458.6948 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
303.5 470.778 11.59 -6.722 re
f
BT
5 0 0 5 318.65 465.417 Tm
/Cs7 cs 0 scn
(12.2 )Tj
ET
0.38 0.27 0.07 0 k
303.5 478.5 1.33 -6.722 re
f
BT
5 0 0 5 309.5 473.1392 Tm
/Cs7 cs 0 scn
(1.4 )Tj
ET
0 0.97 1 0.5 k
303.5 485.223 1.045 -6.722 re
f
BT
5 0 0 5 309.215 479.8615 Tm
/Cs7 cs 0 scn
(1.1 )Tj
ET
0.38 0.27 0.07 0 k
303.5 486.223 m
303.5 492.945 l
303.5 486.223 l
f
BT
5 0 0 5 308.17 487.5837 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
303.5 492.945 m
303.5 499.667 l
303.5 492.945 l
f
BT
5 0 0 5 308.17 494.3059 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0.38 0.27 0.07 0 k
303.5 500.667 m
303.5 507.389 l
303.5 500.667 l
f
BT
5 0 0 5 308.17 502.0281 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
303.5 514.111 2.09 -6.722 re
f
BT
5 0 0 5 310.26 508.7504 Tm
/Cs7 cs 0 scn
(2.2 )Tj
ET
0.38 0.27 0.07 0 k
303.5 521.834 43.32 -6.722 re
f
BT
5 0 0 5 350.38 516.4725 Tm
/Cs7 cs 0 scn
(45.6 )Tj
ET
0 0.97 1 0.5 k
303.5 528.556 59.85 -6.722 re
f
BT
5 0 0 5 366.91 523.1948 Tm
/Cs7 cs 0 scn
(63.0 )Tj
ET
0.38 0.27 0.07 0 k
303.5 536.278 39.425 -6.722 re
f
BT
5 0 0 5 346.485 530.917 Tm
/Cs7 cs 0 scn
(41.5 )Tj
ET
0 0.97 1 0.5 k
303.5 543 16.815 -6.722 re
f
BT
5 0 0 5 323.875 537.6392 Tm
/Cs7 cs 0 scn
(17.7 )Tj
ET
0.38 0.27 0.07 0 k
303.5 550.723 9.785 -6.722 re
f
BT
5 0 0 5 316.845 545.3615 Tm
/Cs7 cs 0 scn
(10.3 )Tj
ET
0 0.97 1 0.5 k
303.5 557.445 2.185 -6.722 re
f
BT
5 0 0 5 310.355 552.0836 Tm
/Cs7 cs 0 scn
(2.3 )Tj
ET
0.38 0.27 0.07 0 k
303.5 565.167 1.14 -6.722 re
f
BT
5 0 0 5 309.31 559.8058 Tm
/Cs7 cs 0 scn
(1.2 )Tj
ET
0 0.97 1 0.5 k
303.5 571.889 1.52 -6.722 re
f
BT
5 0 0 5 309.69 566.5281 Tm
/Cs7 cs 0 scn
(1.6 )Tj
ET
0 0 0 1 K
0.5 w
284.5 442.389 m
379.5 442.389 l
284.5 442.389 m
284.5 439.389 l
S
BT
5 0 0 5 281.585 433.3893 Tm
0 0 0 1 k
(-20)Tj
ET
294 442.389 m
294 439.389 l
S
BT
5 0 0 5 291.085 433.3893 Tm
(-10)Tj
ET
303.5 442.389 m
303.5 439.389 l
S
BT
5 0 0 5 302.39 433.3893 Tm
(0)Tj
ET
313 442.389 m
313 439.389 l
S
BT
5 0 0 5 310.78 433.3893 Tm
(10)Tj
ET
322.5 442.389 m
322.5 439.389 l
S
BT
5 0 0 5 320.28 433.3893 Tm
(20)Tj
ET
332 442.389 m
332 439.389 l
S
BT
5 0 0 5 329.78 433.3893 Tm
(30)Tj
ET
341.5 442.389 m
341.5 439.389 l
S
BT
5 0 0 5 339.28 433.3893 Tm
(40)Tj
ET
351 442.389 m
351 439.389 l
S
BT
5 0 0 5 348.78 433.3893 Tm
(50)Tj
ET
360.5 442.389 m
360.5 439.389 l
S
BT
5 0 0 5 358.28 433.3893 Tm
(60)Tj
ET
370 442.389 m
370 439.389 l
S
BT
5 0 0 5 367.78 433.3893 Tm
(70)Tj
ET
379.5 442.389 m
379.5 439.389 l
S
BT
5 0 0 5 377.28 433.3893 Tm
(80)Tj
ET
303.5 442.389 m
303.5 572.389 l
S
BT
6 0 0 6 212.5 448.1115 Tm
(Derivatives)Tj
0 2.4074 TD
(Cash)Tj
T*
(NR)Tj
T*
(B)Tj
T*
(BB)Tj
T*
(BBB)Tj
T*
(A)Tj
T*
(AA)Tj
T*
(AAA)Tj
ET
q
212.5 408.889 5 20.5 re
W n
0 0.97 1 0.5 K
10 w
212.5 429.389 m
217.5 429.389 l
S
Q
BT
/F1 1 Tf
6 0 0 6 220.5 424.8892 Tm
-0.0333 Tc
(Goldman Sachs Global Credit )Tj
0 -1.25 TD
(Portfolio \(Hedged\))Tj
ET
q
297.5 408.889 5 20.5 re
W n
0.38 0.27 0.07 0 K
10 w
297.5 429.389 m
302.5 429.389 l
S
Q
BT
6 0 0 6 305.5 424.8892 Tm
(Bloomberg Barclays Global Agg: )Tj
T*
(Corp Bond in USD , 100% Hedged)Tj
/F2 1 Tf
8 0 0 8 402.5 568.8893 Tm
-0.025 Tc
[(Security)-16503(%)]TJ
ET
q
397.5 549.389 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 563.389 120 -14 re
f
Q
BT
8 0 0 8 402.5 554.8892 Tm
(BROADCOM INC.)Tj
ET
q
517.5 549.389 50 14 re
W n
0.132 0.08 0.028 0 k
517.5 563.389 50 -14 re
f
Q
BT
8 0 0 8 554.22 554.8892 Tm
(2.1)Tj
-18.965 -1.75 TD
[(ANHEUSER-BUSCH INBEV)-9909(2.0)]TJ
ET
q
397.5 521.389 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 535.389 120 -14 re
f
Q
BT
8 0 0 8 402.5 526.8892 Tm
(T-MOBILE US, INC.)Tj
ET
0.132 0.08 0.028 0 k
517.5 535.389 50 -14 re
f
BT
8 0 0 8 554.22 526.8892 Tm
0 0 0 1 k
(1.9)Tj
-18.965 -1.75 TD
[(BNP PARIBAS)-14185(1.7)]TJ
ET
q
397.5 493.389 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 507.389 120 -14 re
f
Q
BT
8 0 0 8 402.5 498.8892 Tm
(CREDIT SUISSE GROUP AG)Tj
ET
0.132 0.08 0.028 0 k
517.5 507.389 50 -14 re
f
BT
8 0 0 8 554.22 498.8892 Tm
0 0 0 1 k
(1.7)Tj
-18.965 -1.75 TD
[(CITIGROUP INC.)-13538(1.7)]TJ
ET
q
397.5 465.389 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 479.389 120 -14 re
f
Q
BT
8 0 0 8 402.5 470.8892 Tm
(AT&T INC.)Tj
ET
0.132 0.08 0.028 0 k
517.5 479.389 50 -14 re
f
BT
8 0 0 8 554.22 470.8892 Tm
0 0 0 1 k
(1.7)Tj
-18.965 -1.75 TD
[(ABBVIE INC)-14938(1.6)]TJ
ET
q
397.5 437.389 120 14 re
W n
0.132 0.08 0.028 0 k
397.5 451.389 120 -14 re
f
Q
BT
8 0 0 8 402.5 442.8892 Tm
(DELL TECHNOLOGIES INC.)Tj
ET
0.132 0.08 0.028 0 k
517.5 451.389 50 -14 re
f
BT
8 0 0 8 554.22 442.8892 Tm
0 0 0 1 k
(1.6)Tj
-18.965 -1.75 TD
[(BANCO SANTANDER, S.A.)-9823(1.5)]TJ
/F5 1 Tf
-23.125 -33.6737 TD
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21. Past performance does not )Tj
0 -1.25 TD
(guarantee future results, which may vary. The value of investments and the income derived from investments will )Tj
ET
q
0.2 i
217.5 135 350 30.5 re
W n
BT
8 0 0 8 217.5 139.5 Tm
0 Tc
()Tj
ET
Q
BT
8 0 0 8 221.3 139.5 Tm
(uctuate and can go down as well as up. A loss of capital may occur.)Tj
/F2 1 Tf
4 0 0 4 217.5 132 Tm
0 Tc
(\(1\))Tj
8 0 0 8 221.052 129 Tm
(The Morningstar sector average gures are calculated using all open funds available in the universe at the indicated )Tj
-0.444 -1.25 TD
(time period. The number of funds in a Morningstar sector varies over time as new funds are launched and funds close. )Tj
T*
[(Source: Morningstar 2021 Morningstar)70(, Inc. All Rights Reserved.)]TJ
4 0 0 4 411.252 112 Tm
( \(2\))Tj
8 0 0 8 415.692 109 Tm
(The ongoing charges gure is based on expenses )Tj
-24.774 -1.25 TD
[(during the previous year)70(. See details in the Key Investor Information Document.)]TJ
4 0 0 4 447.9321 102 Tm
( \(3\))Tj
8 0 0 8 452.372 99 Tm
(The Bloomberg Barclays Global )Tj
-29.359 -1.25 TD
(Aggregate Corporate Bond Index is quoted at month-end with income reinvested and, in contrast to the Portfolio, is )Tj
T*
(shown without the deduction of any expenses.)Tj
4 0 0 4 353.868 82 Tm
( \(4\))Tj
8 0 0 8 358.308 79 Tm
(Fund returns are shown net of applicable ongoing fees within the )Tj
-17.601 -1.25 TD
[(portfolio, with dividends re-invested using the ex-dividend NA)37(V)100(.)0( These returns are for comparison of performance against )]TJ
T*
(specied index. As the investor may be liable to other fees, charges and taxes, they are not meant to provide a measure )Tj
T*
(of actual return to investors. The performance data do not take account of the commissions and costs incurred on the )Tj
T*
(issue and redemption of shares.)Tj
4 0 0 4 311.668 42 Tm
( \(5\))Tj
8 0 0 8 316.108 39 Tm
(Portfolio holdings may not represent current, future investments or all of the )Tj
-12.326 -1.25 TD
(portfolio's holdings. Future portfolio holdings may not be protable.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
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90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
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88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
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95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
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94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
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102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
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99.331 54.197 l
f
103.117 57.278 m
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103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
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106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
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92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
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89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
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90.232 45.672 90.749 45.772 91.353 45.772 c
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93.618 41.054 l
f
96.451 45.088 m
96.474 45.088 l
96.632 45.346 96.821 45.514 97.033 45.614 c
97.26 45.727 97.516 45.772 97.807 45.772 c
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99.22 40.002 l
97.64 40.002 l
97.64 43.9 l
97.64 44.403 97.549 44.797 97.046 44.797 c
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96.451 40.002 l
94.871 40.002 l
94.871 45.66 l
96.451 45.66 l
96.451 45.088 l
f
101.795 41.761 m
101.795 41.357 101.862 40.865 102.379 40.865 c
103.309 40.865 103.164 42.118 103.164 42.735 c
102.379 42.701 101.795 42.77 101.795 41.761 c
104.709 41.054 m
104.709 40.706 104.754 40.349 104.789 40.002 c
103.318 40.002 l
103.253 40.751 l
103.231 40.751 l
102.896 40.169 102.436 39.891 101.753 39.891 c
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100.25 43.564 101.695 43.642 103.164 43.62 c
103.164 44.057 l
103.164 44.538 103.097 44.887 102.525 44.887 c
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100.386 44.023 l
100.386 44.707 100.598 45.144 100.967 45.401 c
101.326 45.672 101.841 45.772 102.446 45.772 c
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104.709 41.054 l
f
108.061 41.054 m
108.63 41.054 108.708 41.648 108.708 42.848 c
108.708 44.091 108.653 44.797 108.072 44.797 c
107.476 44.797 107.374 44.382 107.374 42.657 c
107.374 42.129 107.296 41.054 108.061 41.054 c
110.29 45.66 m
110.29 39.765 l
110.29 39.374 110.311 37.826 108.136 37.826 c
106.959 37.826 105.953 38.131 105.919 39.509 c
107.465 39.509 l
107.465 39.274 107.499 39.072 107.599 38.938 c
107.702 38.791 107.881 38.713 108.126 38.713 c
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108.708 40.741 l
108.687 40.741 l
108.453 40.303 108.003 40.08 107.488 40.08 c
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110.29 45.66 l
f
114.523 43.464 m
114.523 44.012 114.546 44.797 113.795 44.797 c
113.067 44.797 113.08 43.944 113.08 43.464 c
h
113.08 42.578 m
113.08 41.904 113.101 40.898 113.795 40.898 c
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116.071 41.904 l
116.048 41.288 115.846 40.785 115.464 40.439 c
115.095 40.091 114.535 39.891 113.795 39.891 c
111.757 39.891 111.488 41.133 111.488 42.903 c
111.488 44.45 111.713 45.772 113.795 45.772 c
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113.08 42.578 l
f
118.85 45.088 m
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119.186 45.593 119.612 45.772 120.205 45.772 c
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124.351 40.002 l
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122.771 43.9 l
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121.584 40.002 l
120.039 40.002 l
120.039 43.9 l
120.039 44.403 119.948 44.797 119.444 44.797 c
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118.85 40.002 l
117.271 40.002 l
117.271 45.66 l
118.85 45.66 l
118.85 45.088 l
f
128.441 43.464 m
128.441 44.012 128.462 44.797 127.712 44.797 c
126.983 44.797 126.994 43.944 126.994 43.464 c
h
126.994 42.578 m
126.994 41.904 127.016 40.898 127.712 40.898 c
128.272 40.898 128.384 41.435 128.384 41.904 c
129.986 41.904 l
129.965 41.288 129.762 40.785 129.381 40.439 c
129.011 40.091 128.453 39.891 127.712 39.891 c
125.673 39.891 125.405 41.133 125.405 42.903 c
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126.994 42.578 l
f
132.777 45.088 m
132.798 45.088 l
132.955 45.346 133.146 45.514 133.359 45.614 c
133.582 45.727 133.842 45.772 134.131 45.772 c
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135.544 40.002 l
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133.963 43.9 l
133.963 44.403 133.875 44.797 133.37 44.797 c
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132.777 40.002 l
131.197 40.002 l
131.197 45.66 l
132.777 45.66 l
132.777 45.088 l
f
136.385 45.66 m
137.024 45.66 l
137.024 46.556 l
138.602 47.262 l
138.602 45.66 l
139.421 45.66 l
139.421 44.685 l
138.602 44.685 l
138.602 41.659 l
138.602 41.233 138.591 40.954 139.108 40.954 c
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136.385 45.66 l
f
q
27.594 27.518 111.827 41.827 re
W n
0.5 0.25 0 0.1 k
27.595 69.345 41.778 -41.827 re
f
Q
0 0 0 0 k
39.023 62.533 m
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37.508 63.612 37.507 64.582 37.721 65.037 c
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39.023 64.582 39.023 63.612 39.023 62.533 c
39.587 65.077 m
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f
64.062 59.582 m
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f
59.823 63.199 m
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h
60.68 65.322 m
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f
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h
39.64 57.463 m
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f
56.294 59.582 m
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49.527 65.496 l
49.527 59.582 l
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50.998 64.146 l
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52.16 59.582 l
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54.809 59.582 l
56.294 59.582 l
f
41.444 66.715 1.522 -7.133 re
f
46.442 65.086 m
46.753 64.629 46.776 63.513 46.776 62.663 c
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45.361 61.262 45.345 62.014 45.345 62.703 c
45.345 63.621 45.392 64.305 45.582 64.881 c
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46.234 65.315 46.343 65.229 46.442 65.086 c
48.249 59.582 m
48.249 66.715 l
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46.745 65.037 l
46.591 65.35 46.296 65.57 45.844 65.57 c
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46.806 59.582 l
48.249 59.582 l
f
54.326 57.736 m
54.326 56.038 l
54.112 56.038 l
53.965 56.734 53.631 57.502 52.881 57.526 c
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51.974 56.422 52.131 56.071 52.908 55.621 c
53.88 55.058 54.689 54.785 54.689 53.609 c
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50.93 51.718 l
50.93 53.781 l
51.135 53.781 l
51.433 52.543 51.747 51.951 52.654 51.951 c
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53.582 53.485 53.207 53.856 52.383 54.345 c
51.479 54.88 50.869 55.224 50.869 56.087 c
50.869 56.98 51.543 57.737 52.738 57.737 c
53.137 57.737 54.326 57.736 y
f
49.92 51.719 m
48.417 51.719 l
48.417 56.287 l
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45.717 51.719 l
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44.196 57.741 44.614 57.536 44.901 57.116 c
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43.966 57.273 43.949 57.527 43.533 57.527 c
42.982 57.527 42.842 56.893 42.784 56.397 c
42.645 55.129 42.656 53.953 42.788 53.064 c
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47.223 58.855 l
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(Contingent Convertible \(Coco\) Bond Risk)Tj
/F1 1 Tf
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(Counterparty risk)Tj
/F1 1 Tf
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( a party that the Portfolio transacts with may fail to meet its obligations which could cause losses.)Tj
/F6 1 Tf
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/F5 1 Tf
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(Credit risk)Tj
/F1 1 Tf
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( the failure of a counterparty or an issuer of a nancial asset held within the Portfolio to meet its payment obligations will )Tj
48.322 0 TD
(have a negative impact on the )Tj
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/F5 1 Tf
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(Custodian risk)Tj
/F1 1 Tf
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50.711 0 TD
(olio's assets can result )Tj
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/F5 1 Tf
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(Derivatives risk)Tj
/F1 1 Tf
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49.598 0 TD
(rivatives may result in )Tj
-56.3842 -1.3125 TD
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/F5 1 Tf
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(Emerging markets risk)Tj
/F1 1 Tf
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( emerging markets are likely to bear higher risk due to lower liquidity and possible lack of adequate nancial, legal, social, )Tj
48.817 0 TD
(political and )Tj
-58.4953 -1.3125 TD
(economic structures, protection and stability as well as uncertain tax positions.)Tj
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()Tj
/F5 1 Tf
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(Exchange rate risk)Tj
/F1 1 Tf
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( changes in exchange rates may reduce or increase the returns an investor might expect to receive independent of the performanc)Tj
52.266 0 TD
(e of such )Tj
-60.3516 -1.3125 TD
(assets. If applicable, investment techniques used to attempt to reduce the risk of currency movements \(hedging\), may not be ef)Tj
50.878 0 TD
(fective. Hedging also involves )Tj
-50.878 -1.3125 TD
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/F5 1 Tf
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(Interest rate risk)Tj
/F1 1 Tf
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47.71 0 TD
( their money elsewhere. )Tj
-54.8511 -1.3125 TD
(Bond prices are therefore subject to movements in interest rates which may move for a number of reasons, political as well as e)Tj
51.096 0 TD
(conomic.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Leverage risk)Tj
/F1 1 Tf
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52.433 0 TD
(of derivatives is )Tj
-58.2746 -1.3125 TD
(greater than the amount invested. A leveraged Portfolio may result in large uctuations in the value of the Portfolio and there)Tj
49.713 0 TD
(fore entails a high degree of risk )Tj
-49.713 -1.3125 TD
(including the risk that losses may be substantial.)Tj
/F6 1 Tf
6 0 0 6 27.5 505.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Liquidity risk)Tj
/F1 1 Tf
8 0 0 8 82.3545 505.3892 Tm
( the Portfolio may not always nd another party willing to purchase an asset that the Portfolio wants to sell which could impac)Tj
50.267 0 TD
(t the Portfolio's ability to )Tj
-55.8738 -1.3125 TD
(meet redemption requests on demand.)Tj
/F6 1 Tf
6 0 0 6 27.5 482.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Market risk)Tj
/F1 1 Tf
8 0 0 8 77.6285 482.8892 Tm
( the value of assets in the Portfolio is typically dictated by a number of factors, including the condence levels of the marke)Tj
49.044 0 TD
(t in which they are traded.)Tj
/F6 1 Tf
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(Operational risk)Tj
/F1 1 Tf
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( material losses to the Portfolio may arise as a result of human error, system and/or process failures, inadequate procedures o)Tj
50.318 0 TD
(r controls.)Tj
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Mortgage-backed securities \(MBS\) and asset-backed securities \(ABS\) risk)Tj
/F1 1 Tf
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( the mortgages backing MBS and assets backing ABS may be repaid earlier )Tj
-34.1711 -1.3125 TD
(than required, resulting in a lower return.)Tj
/F5 1 Tf
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(Glossary)Tj
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(Beta)Tj
/F1 1 Tf
8 0 0 8 53.5565 291.3892 Tm
( Measures the sensitivity of the funds returns to the comparative benchmark index return \(annualised\). The nearer to 1.00, t)Tj
49.986 0 TD
(he closer the historical uctuations )Tj
-51.993 -1.3125 TD
(in the value of the fund are to the benchmark. If above 1.00, then fund uctuations have been greater than the benchmark.)Tj
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Duration of the Portfolio)Tj
/F1 1 Tf
8 0 0 8 120.1455 268.8892 Tm
( Measure of the sensitivity of the price of a bond or portfolio to a change in interest rates paid. The larger the number \(po)Tj
48.822 0 TD
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-59.1527 -1.3125 TD
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48.765 0 TD
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-48.765 -1.3125 TD
(negative duration a rise in interest rates results in a rise in price.)Tj
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Excess returns)Tj
/F1 1 Tf
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( The return of the fund in excess of the benchmark/index return \(annualised\).)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Historical tracking error)Tj
/F1 1 Tf
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( - Measure of the actual deviation of the funds returns from the comparative benchmark index returns \(annualised\). A higher nu)Tj
50.988 0 TD
(mber )Tj
-61.4345 -1.3125 TD
(means that the fund is taking greater risk against the benchmark.)Tj
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Historical Volatility of Portfolio)Tj
/F1 1 Tf
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( Illustrates the dispersion of the funds realized monthly returns around the average monthly return, indicating how volatile)Tj
49.432 0 TD
( the )Tj
-62.8333 -1.3125 TD
(funds return is over time. The higher the number the more volatile the funds returns.)Tj
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Interest Rate Duration)Tj
/F1 1 Tf
8 0 0 8 113.0565 178.8892 Tm
( This is a modied measure of Total Average Duration that has been estimated by GSAM. This modied measure seeks to take acco)Tj
53.153 0 TD
(unt of )Tj
-62.5976 -1.3125 TD
(the different behaviours of different bond markets around the world by re-expressing all duration exposures to a common US mark)Tj
51.931 0 TD
(et standard. The goal is to improve )Tj
-51.931 -1.3125 TD
(the estimate of the portfolio's sensitivity to changes in interest rates. This estimate is guided by historical market observat)Tj
48.514 0 TD
(ions amongst markets which are )Tj
-48.514 -1.3125 TD
(themselves subject to change over time and may not necessarily be reected by the actual outcome.)Tj
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Net Asset Value)Tj
/F1 1 Tf
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( Represents the net assets of the fund \(ex-dividend\) divided by the total number of shares issued by the fund.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Ongoing Charges)Tj
/F1 1 Tf
8 0 0 8 96.524 123.3892 Tm
( The ongoing charges gure is based on the funds expenses during the previous 12 months, on a rolling basis. It excludes tra)Tj
50.54 0 TD
(nsaction costs and )Tj
-57.918 -1.3125 TD
(performance fees incurred by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 100.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Other Expenses)Tj
/F1 1 Tf
8 0 0 8 91.322 100.8892 Tm
( Fees deduced from the Funds assets incurred as part of the Funds operations, including, where applicable, costs incurred b)Tj
50.652 0 TD
(y the Fund when )Tj
-57.3797 -1.3125 TD
(investing in other funds.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(R)Tj
/F2 1 Tf
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(2)Tj
/F1 1 Tf
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( Measure that represents the percentage of a portfolio movement linked to movements in the benchmark index return \(annualised)Tj
52.433 0 TD
(\). The nearer to [1.00], the more )Tj
-53.2457 -1.3125 TD
(a fund is tracking the risk of the benchmark, and the less risk that the fund is taking against the benchmark.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Swing pricing)Tj
/F1 1 Tf
8 0 0 8 86.1455 55.8892 Tm
( The swing factor represents the factor in place month end and is subject to change on any Dealing Day depending on prevailin)Tj
51.433 0 TD
(g market conditions.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Yield to Maturity)Tj
/F1 1 Tf
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( The rate of return anticipated on a bond if it is held until the maturity date shown without the deduction of any expenses.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Yield to Worst)Tj
/F1 1 Tf
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( The lowest potential yield that can be received on a bond without the issuer actually defaulting.)Tj
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(Additional Notes)Tj
8 0 0 8 27.5 761.8892 Tm
0 0 0 1 k
-0.0313 Tc
0.0001 Tw
(This material is a nancial promotion and has been issued by Goldman Sachs International, authorised by the Prudential Regulati)Tj
47.4093 0 TD
0 Tw
(on Authority and regulated by the Financial Conduct )Tj
-47.4093 -1.3125 TD
(Authority and the Prudential Regulation Authority.)Tj
0 -1.375 TD
0.0001 Tw
(Furthermore, this information should not be construed as nancial research. It was not prepared in compliance with applicable p)Tj
47.3523 0 TD
(rovisions of law designed to promote the )Tj
-47.3523 -1.3125 TD
0 Tw
(independence of nancial analysis and is not subject to a prohibition on trading following the distribution of nancial researc)Tj
45.7983 0 TD
(h.)Tj
-45.7983 -1.375 TD
0.0001 Tw
(This information is intended for viewing only by the intended recipient and may not be reproduced or distributed to any person )Tj
46.4633 0 TD
0 Tw
(in whole or in part without the prior written consent of )Tj
-46.4633 -1.3125 TD
0.0001 Tw
(GSI. Goldman Sachs International accepts no liability for the misuse or inappropriate distribution of this material.)Tj
/F5 1 Tf
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0 Tw
(Offering Documents)Tj
/F1 1 Tf
7.4925 0 TD
0.0001 Tw
(: This material is provided at your request for informational purposes only and does not constitute a solicitation in any juris)Tj
44.6833 0 TD
0 Tw
(diction in which such a solicitation is )Tj
-52.1758 -1.3125 TD
0.0001 Tw
(unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not c)Tj
46.0203 0 TD
0 Tw
(onstitute an offer to buy shares in the fund. Prior to an )Tj
-46.0203 -1.3125 TD
0.0001 Tw
(investment, prospective investors should carefully read the latest Key Investor Information Document \(KIID\) as well as the offe)Tj
46.4653 0 TD
(ring documentation, including but not limited to the )Tj
-46.4653 -1.3125 TD
(funds prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of associatio)Tj
46.2383 0 TD
(n, prospectus, supplement, KIID and latest annual/semi-)Tj
-46.2383 -1.3125 TD
(annual report are available free of charge from the funds paying and information agent and/or from your nancial adviser and a)Tj
46.9643 0 TD
0 Tw
(t www.gsam.com/kiids.)Tj
/F5 1 Tf
-46.9643 -1.375 TD
(Distribution of Shares)Tj
/F1 1 Tf
8.1455 0 TD
0.0001 Tw
(: Shares of the fund may not be registered for public distribution in a number of jurisdictions \(including but not limited to a)Tj
44.2983 0 TD
0 Tw
(ny Latin American, African or Asian )Tj
-52.4438 -1.3125 TD
0.0001 Tw
(countries\). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unle)Tj
45.5193 0 TD
0 Tw
(ss such marketing or offering is made in compliance with )Tj
-45.5193 -1.3125 TD
0.0001 Tw
(applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and )Tj
46.8523 0 TD
0 Tw
(regulations.)Tj
/F5 1 Tf
-46.8523 -1.375 TD
0.0001 Tw
(Investment Advice and Potential Loss)Tj
/F1 1 Tf
14.04 0 TD
(: Financial advisers generally suggest a diversied portfolio of investments. The fund described herein does not represent a di)Tj
46.1273 0 TD
0 Tw
(versied )Tj
-60.1673 -1.3125 TD
0.0001 Tw
(investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult the)Tj
46.3503 0 TD
0 Tw
(ir nancial and tax adviser before investing in order to )Tj
-46.3503 -1.3125 TD
0.0001 Tw
(determine whether an investment would be suitable for them.)Tj
/F5 1 Tf
0 -1.375 TD
(An investor should only invest if he/she has the necessary nancial resources to bear a complete loss of this investment.)Tj
T*
(Swing Pricing)Tj
/F1 1 Tf
5.3728 0 TD
(: Please note that the fund operates a swing pricing policy. Investors should be aware that from time to time this may result i)Tj
45.4633 0 TD
0 Tw
(n the fund performing differently compared )Tj
ET
q
1 i
27.5 554.389 540 21.5 re
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BT
8 0 0 8 27.5 558.8892 Tm
0 Tc
(t)Tj
ET
Q
BT
8 0 0 8 29.474 558.8892 Tm
0.0001 Tw
(o the reference benchmark based solely on the effect of swing pricing rather than price developments of underlying instruments.)Tj
-0.2467 -1.375 TD
0 Tw
(Fees are generally billed and payable at the end of each quarter and are based on average month-end market values during the qu)Tj
48.0743 0 TD
(arter.)Tj
-48.0743 -1.375 TD
0.0001 Tw
(Additional information is provided in our Form ADV Part-2 which is available at http://www.adviserinfo.sec.gov/IAPD/Content/Sea)Tj
47.5213 0 TD
0 Tw
(rch/iapd_Search.aspx.)Tj
/F5 1 Tf
-47.5213 -1.375 TD
0.0001 Tw
(The relevant articles of association, prospectus, supplement and key investor information document \(KIID\) and latest annual/sem)Tj
48.1373 0 TD
(i-annual report \(as applicable\) are available free of )Tj
-48.1373 -1.3125 TD
(charge from the funds paying and information agents as listed below:)Tj
0 -1.375 TD
0 Tw
(Austria)Tj
/F1 1 Tf
2.7253 0 TD
0.0001 Tw
(: Raiffeisen Bank International AG, Am Stadtpark 9, A-1030 Wien, Austria.)Tj
/F5 1 Tf
-2.7253 -1.375 TD
0 Tw
(Belgium)Tj
/F1 1 Tf
3.1702 0 TD
0.0001 Tw
(: RBC Investor Services, Place Rogier II, 1210 Brussels, Belgium.)Tj
/F5 1 Tf
-3.1702 -1.375 TD
0 Tw
(Denmark)Tj
/F1 1 Tf
3.4473 0 TD
0.0001 Tw
(: Stockrate Asset Management, Mollevej 9 E2, DK-2990 Niva, Denmark.)Tj
/F5 1 Tf
-3.4473 -1.375 TD
0 Tw
(France)Tj
/F1 1 Tf
2.5895 0 TD
0.0001 Tw
(: RBC Investor Services Bank France, 105, rue Raumur, 75002 Paris, France.)Tj
/F5 1 Tf
-2.5895 -1.375 TD
0 Tw
(Germany)Tj
/F1 1 Tf
3.3912 0 TD
(: State Street Bank GmbH, Brienner Strasse 59, 80333 Munich, Germany.)Tj
/F5 1 Tf
-3.3912 -1.375 TD
(Greece)Tj
/F1 1 Tf
2.7565 0 TD
(: Piraeus Bank S.A., 4 Amerikis Street, 10564 Athens, Greece.)Tj
/F5 1 Tf
-2.7565 -1.375 TD
(Ireland)Tj
/F1 1 Tf
2.6702 0 TD
0.0001 Tw
(: RBC Investor Services Ireland Limited, George's Quay House, 43 Townsend Street, Dublin 2, Ireland.)Tj
/F5 1 Tf
-2.6702 -1.375 TD
0 Tw
(Italy)Tj
/F1 1 Tf
1.6217 0 TD
0.0001 Tw
(: Socit Gnrale Securities Services, Maciachini Center MAC 2, Via Benigno Crespi, 19/A, 20159 Milan, Italy; AllFunds Bank )Tj
46.8493 0 TD
0 Tw
(S.A. Filiale di Milano, Via Santa Margherita 7, 20121 )Tj
-48.471 -1.3125 TD
0.0001 Tw
(Milan, Italy; RBC Investor Services Bank Milan- Milan Branch, Cia Vittor Pisani, 26, 20154 Milan, Italy; State Street Bank S.pA)Tj
45.6843 0 TD
(., Via Col Moschin, 16 , 20136 Milan, Italy; BNP Paribas )Tj
-45.6843 -1.3125 TD
(Securities Services Succursale di Milano, Via Ansperto 5, 20121 Milan, Italy; Banca Sella, Piazza Gaudenzio Sella 1, 13900 Bie)Tj
46.4603 0 TD
0 Tw
(lla Bl., Italy.)Tj
/F5 1 Tf
-46.4603 -1.375 TD
(Luxembourg)Tj
/F1 1 Tf
4.6865 0 TD
(: State Street Bank International GmbH, Luxembourg Branch, 49, avenue J.F. Kennedy, L-1855 Luxembourg.)Tj
/F5 1 Tf
-4.6865 -1.375 TD
(Sweden)Tj
/F1 1 Tf
3.1465 0 TD
0.0001 Tw
(: Skandinaviska Enskilda Banken AB, through its entity Global Transaction Services, SEB Merchant Banking, Sergels Torg 2, ST MH)Tj
48.3503 0 TD
0 Tw
(1, SE-106 40 Stockholm, Sweden.)Tj
/F5 1 Tf
-51.4968 -1.375 TD
(Switzerland)Tj
/F1 1 Tf
4.5462 0 TD
0.0001 Tw
(: Swiss Representative of the fund is First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich. Paying Agent of the fu)Tj
46.0733 0 TD
(nd in Switzerland is Goldman Sachs Bank AG, )Tj
-50.6195 -1.3125 TD
(Claridenstrasse 25, 8022 Zurich. The Key Investor Information Document \(KIID\) as well as the annual and semi-annual reports of )Tj
47.1293 0 TD
0 Tw
(the fund may be obtained free of charge at the Swiss )Tj
-47.1293 -1.3125 TD
(Representative or Goldman Sachs Bank AG in Zurich.)Tj
0 -1.375 TD
0.0001 Tw
(Please note in addition for:)Tj
/F5 1 Tf
T*
0 Tw
(Australia)Tj
/F1 1 Tf
3.4408 0 TD
0.0001 Tw
(: This material is distributed in Australia and New Zealand by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 )Tj
48.1263 0 TD
0 Tw
(681, AFSL 228948 \(GSAMA\) and is )Tj
-51.567 -1.3125 TD
0.0001 Tw
(intended for viewing only by wholesale clients in Australia for the purposes of section 761G of the Corporations Act 2001 \(Cth\))Tj
45.9623 0 TD
( and to clients who either fall within any or all of the )Tj
-45.9623 -1.3125 TD
(categories of investors set out in section 3\(2\) or sub-section 5\(2CC\) of the Securities Act 1978 \(NZ\).)Tj
/F5 1 Tf
0 -1.375 TD
(Hong Kong)Tj
/F1 1 Tf
4.1077 0 TD
(: This material has been issued or approved for use in or from Hong Kong by Goldman Sachs Asset Management \(Hong Kong\) Limited.)Tj
/F5 1 Tf
-4.1077 -1.375 TD
0 Tw
(Netherlands)Tj
/F1 1 Tf
4.6562 0 TD
0.0001 Tw
(: The fund is included in the register kept by the Stichting Autoriteit Financile Markten.)Tj
/F5 1 Tf
-4.6562 -1.375 TD
0 Tw
(Singapore)Tj
/F1 1 Tf
3.8858 0 TD
0.0001 Tw
(: This material has been issued or approved for use in or from Singapore by Goldman Sachs Asset Management \(Singapore\) Pte. Ltd)Tj
48.6303 0 TD
0 Tw
(. \(Company Number: 201329851H\).)Tj
/F5 1 Tf
-52.516 -1.375 TD
(Spain)Tj
/F1 1 Tf
2.1778 0 TD
0.0001 Tw
(: The fund is a foreign UCITS registered with the CNMV registry with number 141 \(SICAV\), 913 \(SICAV II\), 305 \(PLC\). A full desc)Tj
46.0233 0 TD
0 Tw
(ription and KIID for the fund and other mandatory )Tj
-48.201 -1.3125 TD
0.0001 Tw
(documentation is available free of charge from any of the authorised distributors of the fund listed in the Comisin Nacional d)Tj
45.9103 0 TD
0 Tw
(el Mercado de Valores \(CNMV\) webpage at )Tj
-45.9103 -1.3125 TD
(www.cnmv.es.)Tj
/F5 1 Tf
0 -19.8125 TD
(Condentiality)Tj
/F1 1 Tf
0 -1.375 TD
-0.025 Tc
(No part of this material may, without GSAMs prior written consent, be \(i\) copied, photocopied or duplicated in any form, by an)Tj
47.036 0 TD
(y means, or \(ii\) distributed to any person that is not an )Tj
-47.036 -1.3125 TD
(employee, ofcer, director, or authorized agent of the recipient.)Tj
0 -1.375 TD
( 2021 Goldman Sachs. All rights reserved.)Tj
T*
(Registered and Principal Ofces:)Tj
/F5 1 Tf
12.309 0 TD
-0.0313 Tc
( Luxembourg domiciled Funds Registered Ofce:)Tj
/F1 1 Tf
18.1468 0 TD
-0.025 Tc
( c/o State Street Bank International GmbH, Luxembourg Branch, 49, Avenue J-F Kennedy L-1855, )Tj
-30.4558 -1.3125 TD
(Luxembourg)Tj
0.53 0.32 0.11 0 k
23.972 -2.1737 TD
0 Tc
(4)Tj
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