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DOLFIN3400 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Quels sont les risques et que puis-je espérer en retour ? (suite) Scénarios de performance
Le montant que vous allez récupérer sur ce produit dépend de la performance de marché future. Les évolutions de marché sont incertaines et ne peuvent pas être prévues de manière précise.
Période de conservation recommandée 5
Exemple d’investissement EUR 10.000
1 an 5 ans
| Scénario de crise Le scénario de crise montre ce que vous récupérerez dans des circonstances de marché extrêmes. |
| --- |
| Ce que vous récupérerez après imputation des frais | €1310,00 | €1409,58 |
| Performance moyenne chaque année en % | -86,90 | -32,42 |
| Scénario défavorable Ce type de scénario est survenu Robeco QI Global Developed Multi-Factor Equities D EUR entre 2015-03-31 et 2020-03-31. |
| Ce que vous récupérerez après imputation des frais | €7620,00 | €8951,92 |
| Performance moyenne chaque année en % | -23,80 | -2,19 |
| Scénario modéré Ce type de scénario est survenu Robeco QI Global Developed Multi-Factor Equities D EUR entre 2014-11-30 et 2019-11-30. |
| Ce que vous récupérerez après imputation des frais | €10430,00 | €14018,96 |
| Performance moyenne chaque année en % | 4,00 | 6,99 |
| Scénario favorable Ce type de scénario est survenu Robeco QI Global Developed Multi-Factor Equities D EUR entre 2012-12-31 et 2017-12-31. |
| Ce que vous récupérerez après imputation des frais | €13810,00 | €17521,38 |
| Performance moyenne chaque année en % | 38,00 | 11,87 |
Les chiffres présentés incluent tous les frais du produit, mais n’incluent pas nécessairement tous les frais que vous réglez à votre conseiller ou distributeur. Ces chiffres ne tiennent pas compte de votre situation fiscale personnelle, qui peut influer sur le montant que vous allez récupérer.
Les scénarios défavorables, modérés et favorables présentés sont des illustrations utilisant la performance la moins bonne, moyenne et meilleure du produit et un indicateur adapté des 10 dernières années.
Vous pouvez perdre une partie, voire l’intégralité de vos investissements. | # ¿Cuáles son los riesgos y qué puedo obtener a cambio? (continuación) Escenarios de
Lo que obtenga con este producto dependerá de la evolución futura del mercado. La evolución futura del mercado es incierta y no puede predecirse con exactitud.
Período de tenencia recomendado 5
Ejemplo de inversión EUR 10.000
1 año 5 años
| Supuesto de estrés El escenario de estrés muestra el importe que podría obtener en circunstancias extremas del mercado. |
| --- |
| Importe que podría obtener descontados los costes | €1310,00 | €1409,58 |
| Rendimiento medio anual % | -86,90 | -32,42 |
| Supuesto desfavorable Este tipo de escenario ocurrió por Robeco QI Global Developed Multi-Factor Equities D EUR entre 2015-03-31 y 2020-03-31. |
| Importe que podría obtener descontados los costes | €7620,00 | €8951,92 |
| Rendimiento medio anual % | -23,80 | -2,19 |
| Supuesto alternativo Este tipo de escenario ocurrió por Robeco QI Global Developed Multi-Factor Equities D EUR entre 2014-11-30 y 2019-11-30. |
| Importe que podría obtener descontados los costes | €10430,00 | €14018,96 |
| Rendimiento medio anual % | 4,00 | 6,99 |
| Supuesto favorable Este tipo de escenario ocurrió por Robeco QI Global Developed Multi-Factor Equities D EUR entre 2012-12-31 y 2017-12-31. |
| Importe que podría obtener descontados los costes | €13810,00 | €17521,38 |
| Rendimiento medio anual % | 38,00 | 11,87 |
Las cifras incluyen todos los costes del producto propiamente dicho, pero podrían no incluir los costes que usted pague a su asesor o distribuidor. Las cifras no tienen en cuenta su situación fiscal personal, que también podría afectar al importe que obtenga.
Los escenarios desfavorable, moderado y favorable que se muestran son ejemplos de la rentabilidad peor, media y mejor del producto y de un índice de referencia apropiado durante los 10 últimos años.
Podría perder la totalidad o parte de su inversión. | # Quels sont les risques et que puis-je espérer en retour ? (suite) Scénarios de performance
Le montant que vous allez récupérer sur ce produit dépend de la performance de marché future. Les évolutions de marché sont incertaines et ne peuvent pas être prévues de manière précise.
Période de conservation recommandée 5
Exemple d’investissement EUR 10.000
1 an 5 ans
| Scénario de crise Le scénario de crise montre ce que vous récupérerez dans des circonstances de marché extrêmes. |
| --- |
| Ce que vous récupérerez après imputation des frais | €1310,00 | €1409,58 |
| Performance moyenne chaque année en % | -86,90 | -32,42 |
| Scénario défavorable Ce type de scénario est survenu Robeco QI Global Developed Multi-Factor Equities D EUR entre 2015-03-31 et 2020-03-31. |
| Ce que vous récupérerez après imputation des frais | €7620,00 | €8951,92 |
| Performance moyenne chaque année en % | -23,80 | -2,19 |
| Scénario modéré Ce type de scénario est survenu Robeco QI Global Developed Multi-Factor Equities D EUR entre 2014-11-30 et 2019-11-30. |
| Ce que vous récupérerez après imputation des frais | €10430,00 | €14018,96 |
| Performance moyenne chaque année en % | 4,00 | 6,99 |
| Scénario favorable Ce type de scénario est survenu Robeco QI Global Developed Multi-Factor Equities D EUR entre 2012-12-31 et 2017-12-31. |
| Ce que vous récupérerez après imputation des frais | €13810,00 | €17521,38 |
| Performance moyenne chaque année en % | 38,00 | 11,87 |
Les chiffres présentés incluent tous les frais du produit, mais n’incluent pas nécessairement tous les frais que vous réglez à votre conseiller ou distributeur. Ces chiffres ne tiennent pas compte de votre situation fiscale personnelle, qui peut influer sur le montant que vous allez récupérer.
Les scénarios défavorables, modérés et favorables présentés sont des illustrations utilisant la performance la moins bonne, moyenne et meilleure du produit et un indicateur adapté des 10 dernières années.
Vous pouvez perdre une partie, voire l’intégralité de vos investissements. | fr | es |
DOLFIN3401 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# The reference currency is the US dollar (USD).
2.3%
0.8%
-4.0%
6.7%
0.6%
-6.9%
-2.9%
4.0%
1.4%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 | # La divisa de referencia es el dólar americano (USD).
2,3%
0,8%
-4,0%
6,7%
0,6%
-6,9%
-2,9%
4,0%
1,4%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 | # The reference currency is the US dollar (USD).
2.3%
0.8%
-4.0%
6.7%
0.6%
-6.9%
-2.9%
4.0%
1.4%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 | en | es |
DOLFIN3402 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Composition des coûts |
| --- |
| Coûts ponctuels à l’entrée ou à la sortie | En cas de vente de vos placements après 1 an |
| Coûts d'entrée | 3,00 % du montant que vous versez lors de la saisie de cet investissement. C'est le maximum qui vous sera facturé. La personne qui vous vend le produit vous informera des frais réels. | 300 USD |
| Coûts de sortie | Nous ne facturons pas de coût de sortie pour ce produit. | 0 USD |
| Coûts récurrents | |
| Frais de gestion et autres frais administratifs et d’exploitation | 0,03 % de la valeur de votre investissement par an. | 12 USD |
| Coûts de transaction de portefeuille | 0,00 % de la valeur de votre investissement par an. Il s’agit d’une estimation des coûts encourus lorsque nous achetons et vendons les investissements sous-jacents au produit. Le montant réel varie en fonction de la quantité que nous achetons et vendons. | 0 USD |
| Coûts accessoires prélevés sous certaines conditions | |
| Commissions liées aux résultats | Nous ne facturons pas de commission liée aux résultats pour ce produit. | 0 USD | | | Composición de los costes |
| --- |
| Costes únicos de entrada o salida | Si vende su inversión después de 1 año |
| Costes de entrada | 3,00 % de la cantidad que ingresa al ingresar esta inversión. Esto es lo máximo que se le cobrará. La persona que le vende el producto le informará del cargo real. | 300 USD |
| Costes de salida | No cobramos una comisión de salida por este producto. | 0 USD |
| Costes corrientes | |
| Comisiones de gestión y otros costes administrativos o de funcionamiento | 0,03 % del valor de su inversión al año. | 12 USD |
| Costes de operación de la cartera | 0,00 % del valor de su inversión al año. Se trata de una estimación de los costes en que incurrimos al comprar y vender las inversiones subyacentes del producto. El importe real variará en función de la cantidad que compremos y vendamos. | 0 USD |
| Costes accesorios detraídos en condiciones específicas | |
| Comisiones de rendimiento | No cobramos una comisión de rendimiento por este producto. | 0 USD | | | Composition des coûts |
| --- |
| Coûts ponctuels à l’entrée ou à la sortie | En cas de vente de vos placements après 1 an |
| Coûts d'entrée | 3,00 % du montant que vous versez lors de la saisie de cet investissement. C'est le maximum qui vous sera facturé. La personne qui vous vend le produit vous informera des frais réels. | 300 USD |
| Coûts de sortie | Nous ne facturons pas de coût de sortie pour ce produit. | 0 USD |
| Coûts récurrents | |
| Frais de gestion et autres frais administratifs et d’exploitation | 0,03 % de la valeur de votre investissement par an. | 12 USD |
| Coûts de transaction de portefeuille | 0,00 % de la valeur de votre investissement par an. Il s’agit d’une estimation des coûts encourus lorsque nous achetons et vendons les investissements sous-jacents au produit. Le montant réel varie en fonction de la quantité que nous achetons et vendons. | 0 USD |
| Coûts accessoires prélevés sous certaines conditions | |
| Commissions liées aux résultats | Nous ne facturons pas de commission liée aux résultats pour ce produit. | 0 USD | | fr | es |
DOLFIN3403 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Période de détention recommandée: 8 ans Exemple d'investissement: $10000 Si vous sortez après 1 Si vous sortez après 8 an ans Scénarios |
| --- |
| Minimum | Il n'existe aucune garantie de rendement si vous vendez votre placement avant une durée de 8 an(s). Vous pourriez perdre tout ou partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | $780 | $230 |
| Rendement annuel moyen | -92.2% | -37.5% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | $2240 | $2040 |
| Rendement annuel moyen | -77.6% | -18.0% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | $10070 | $16310 |
| Rendement annuel moyen | 0.7% | 6.3% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | $32260 | $69060 |
| Rendement annuel moyen | 222.6% | 27.3% | | | Periodo de mantenimiento recomendado: 8 años Ejemplo de inversión: $10000 En caso de salida En caso de salida después de 1 año después de 8 años Escenarios |
| --- |
| Mínimo | No hay un rendimiento mínimo garantizado en caso de salida dentro de un período de 8 año(s). Puede perder la totalidad o parte de su inversión. |
| Tensión | Lo que podría recibir tras deducir los costes | $780 | $230 |
| Rendimiento medio cada año | -92.2% | -37.5% |
| Desfavorable | Lo que podría recibir tras deducir los costes | $2240 | $2040 |
| Rendimiento medio cada año | -77.6% | -18.0% |
| Moderado | Lo que podría recibir tras deducir los costes | $10070 | $16310 |
| Rendimiento medio cada año | 0.7% | 6.3% |
| Favorable | Lo que podría recibir tras deducir los costes | $32260 | $69060 |
| Rendimiento medio cada año | 222.6% | 27.3% | | | Période de détention recommandée: 8 ans Exemple d'investissement: $10000 Si vous sortez après 1 Si vous sortez après 8 an ans Scénarios |
| --- |
| Minimum | Il n'existe aucune garantie de rendement si vous vendez votre placement avant une durée de 8 an(s). Vous pourriez perdre tout ou partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | $780 | $230 |
| Rendement annuel moyen | -92.2% | -37.5% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | $2240 | $2040 |
| Rendement annuel moyen | -77.6% | -18.0% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | $10070 | $16310 |
| Rendement annuel moyen | 0.7% | 6.3% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | $32260 | $69060 |
| Rendement annuel moyen | 222.6% | 27.3% | | fr | es |
DOLFIN3404 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Période de détention recommandée : 5 ans Investissement : 10.000 USD |
| --- |
| Scénarios Minimum : Il n’existe aucun rendement minimal garanti si vous sortez avant 5 ans | Si vous sortez après 1 an | Si vous sortez après 5 ans (période de détention recommandée) |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 7.040 USD -29,58 % | 7.360 USD -5,94 % |
| Défavorable¹ | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 8.290 USD -17,08 % | 8.210 USD -3,86 % |
| Intermédiaire² | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 10.140 USD 1,36 % | 10.850 USD 1,65 % |
| Favorable³ | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 10.950 USD 9,54 % | 12.640 USD 4,79 % | | | Período de mantenimiento recomendado: 5 años Inversión: 10.000 USD |
| --- |
| Escenarios Mínimo: No hay un rendimiento mínimo garantizado en caso de salida antes de 5 años | En caso de salida después de 1 año | En caso de salida después de 5 años (período de mantenimiento recomendado) |
| Tensión | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 7.040 USD -29,58% | 7.360 USD -5,94% |
| Desfavorable¹ | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 8.290 USD -17,08% | 8.210 USD -3,86% |
| Moderado² | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 10.140 USD 1,36% | 10.850 USD 1,65% |
| Favorable³ | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 10.950 USD 9,54% | 12.640 USD 4,79% | | | Période de détention recommandée : 5 ans Investissement : 10.000 USD |
| --- |
| Scénarios Minimum : Il n’existe aucun rendement minimal garanti si vous sortez avant 5 ans | Si vous sortez après 1 an | Si vous sortez après 5 ans (période de détention recommandée) |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 7.040 USD -29,58 % | 7.360 USD -5,94 % |
| Défavorable¹ | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 8.290 USD -17,08 % | 8.210 USD -3,86 % |
| Intermédiaire² | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 10.140 USD 1,36 % | 10.850 USD 1,65 % |
| Favorable³ | Ce que vous pourriez obtenir après déduction des coûts Rendement annuel moyen | 10.950 USD 9,54 % | 12.640 USD 4,79 % | | fr | es |
DOLFIN3405 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
- units of UCITS authorised according to the UCITS Directive and/or other collective investment undertakings within the meaning of Article 1 Par (2), lit. a) and b) of the Directive whether located in a Member State or otherwise, provided that:
- these UCIs are authorised in accordance with the legislation requiring that such undertakings are subject to supervision which the Luxembourg Financial Supervisory Authority (Commission de Surveillance du Secteur Financier – CSSF) considers equivalent to that prescribed under EU legislation, and that cooperation between the authorities is sufficiently guaranteed;
- the level of protection for unitholders of these other UCIs is equivalent to that provided for unitholders of a UCITS and, in particular, that the rules on the segregation of assets, borrowing, lending and short sales of Transferable Securities and Money Market Instruments are equivalent to the requirements of the UCITS Directive;
- the business of the other UCIs is reported in semi-annual and annual reports to enable an assessment to be made of the assets and liabilities, income and operations over the reporting period;
- the proportion of assets of these UCITS or other UCIs in which units are to be acquired, which, in accordance with their Articles can be globally invested in units of other UCITS or UCIs, does not exceed 10%;. | - Quote di OICVM autorizzati ai sensi della Direttiva OICVM e/o di altri organismi di investimento collettivo del risparmio ai sensi dell'articolo 1, comma 2, lettere a) e b) della Direttiva, situati in uno Stato membro o altrove, a condizione che:
- tali altri OICR siano autorizzati ai sensi di leggi che li assoggettino a una forma di vigilanza ritenuta dall’autorità di vigilanza lussemburghese (Commission de Surveillance du Secteur Financier, CSSF) equivalente a quella prevista dalla legislazione UE e sia assicurata una sufficiente cooperazione tra le autorità competenti;
- il livello di tutela dei titolari di quote di tali altri OICR sia equivalente a quello previsto per i titolari di quote di un OICVM e, in particolare, le regole di autonomia patrimoniale, assunzione e concessione di prestiti e vendita allo scoperto di Valori mobiliari e Strumenti del mercato monetario siano equivalenti ai requisiti della Direttiva OICVM;
- l'attività di tali altri OICR sia oggetto di relazioni semestrali e annuali che consentano la valutazione delle attività e delle passività, del reddito e della gestione nel periodo in esame;
- gli OICVM o tali altri OICR di cui si intendono acquisire quote non possano, a norma del proprio statuto, investire complessivamente più del 10% del proprio patrimonio in quote di altri OICVM o OICR. | - units of UCITS authorised according to the UCITS Directive and/or other collective investment undertakings within the meaning of Article 1 Par (2), lit. a) and b) of the Directive whether located in a Member State or otherwise, provided that:
- these UCIs are authorised in accordance with the legislation requiring that such undertakings are subject to supervision which the Luxembourg Financial Supervisory Authority (Commission de Surveillance du Secteur Financier – CSSF) considers equivalent to that prescribed under EU legislation, and that cooperation between the authorities is sufficiently guaranteed;
- the level of protection for unitholders of these other UCIs is equivalent to that provided for unitholders of a UCITS and, in particular, that the rules on the segregation of assets, borrowing, lending and short sales of Transferable Securities and Money Market Instruments are equivalent to the requirements of the UCITS Directive;
- the business of the other UCIs is reported in semi-annual and annual reports to enable an assessment to be made of the assets and liabilities, income and operations over the reporting period;
- the proportion of assets of these UCITS or other UCIs in which units are to be acquired, which, in accordance with their Articles can be globally invested in units of other UCITS or UCIs, does not exceed 10%;. | en | it |
DOLFIN3406 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
The condensed financial statements of the Company have been prepared in accordance with IAS 34, Interim Financial Reporting, Irish Statute comprising the Companies Acts 2014 (as amended), the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011, as amended (the “UCITS Regulations”) and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the “Central Bank UCITS Regulations”).
These condensed interim financial statements do not contain all of the information and disclosures required in the full annual financial statements and should be read in conjunction with the financial statements of the Company for the financial year ended 31 December 2021, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”).
The accounting policies and methods of computation applied by the Company in these condensed financial statements are the same as those applied by the Company in its annual financial statements as at and for the year ended 31 December 2021. | Il bilancio abbreviato della Società è stato redatto in conformità allo IAS 34, Bilanci intermedi, alla legge irlandese, incluso il Companies Act del 2014 (come successivamente modificato), alla Direttiva della Comunità Europea (Organismi di investimento collettivo in valori mobiliari) del 2011, così come modificata ("Direttiva UCITS") e alle Direttive della Banca centrale (Supervision and Enforcement Act 2013) (Sezione 48(1)) (Organismi di investimento collettivo in valori mobiliari) del 2019 (le "Direttive UCITS della Banca centrale").
Il bilancio semestrale abbreviato non contiene tutte le informazioni e le dichiarazioni richieste per il bilancio annuale completo e deve essere letto unitamente al bilancio della Società per l’esercizio chiuso al 31 dicembre 2021, che è stato redatto in conformità agli International Financial Reporting Standards ("IFRS").
I principi contabili e i metodi di calcolo adottati dalla Società nel presente bilancio abbreviato sono analoghi a quelli applicati dalla Società nel proprio bilancio annuale per l’esercizio chiuso al 31 dicembre 2021. | The condensed financial statements of the Company have been prepared in accordance with IAS 34, Interim Financial Reporting, Irish Statute comprising the Companies Acts 2014 (as amended), the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011, as amended (the “UCITS Regulations”) and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the “Central Bank UCITS Regulations”).
These condensed interim financial statements do not contain all of the information and disclosures required in the full annual financial statements and should be read in conjunction with the financial statements of the Company for the financial year ended 31 December 2021, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”).
The accounting policies and methods of computation applied by the Company in these condensed financial statements are the same as those applied by the Company in its annual financial statements as at and for the year ended 31 December 2021. | en | it |
DOLFIN3407 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Distribution countries
The fund may only be marketed in the Principality of Liechtenstein, Switzerland, Germany, Austria, Belgium, Denmark, Finland, France, Iceland, Italy, Luxembourg, Netherlands, Norway, Sweden, United Kingdom and Singapore (but here exclusively to institu- tional or accredited investors pursuant to Sections 304, 305(1) and 305(2) of the Securities and Futures Act 2001). Where units are distributed outside Liechtenstein, the pertinent provisions in the respective country shall apply. The units have not been registered under the United States Securities Act 1933. With regard to distribution in the United States or to US citizens or persons resident in the United States, the restrictions detailed the constituent documents shall apply. | # Vertriebsländer
Der Fonds ist nur im Fürstentum Liechtenstein, der Schweiz, Deutschland, Österreich, Belgien, Dänemark, Finnland, Frankreich, Grossbritannien, Island, Italien, Luxemburg, Niederlande, Norwegen, Schweden und Singapur (hier aber ausschliesslich für institutio- nelle bzw. zugelassene Investoren gemäss Abschnitten 304, 305(1) und 305(2) des Securities and Futures Act 2001) zum öffentli- chen Vertrieb zugelassen. Bei einem Vertrieb von Anteilen ausserhalb Liechtensteins finden die im betreffenden Land geltenden Be- stimmungen Anwendung. Die Anteile sind namentlich nicht nach dem United States Securities Act 1933 registriert. Für den Vertrieb in den USA oder an Staatsangehörige oder Personen mit Wohnsitz in den USA gelten die in den konstituierenden Dokumenten auf- geführten Restriktionen. | # Distribution countries
The fund may only be marketed in the Principality of Liechtenstein, Switzerland, Germany, Austria, Belgium, Denmark, Finland, France, Iceland, Italy, Luxembourg, Netherlands, Norway, Sweden, United Kingdom and Singapore (but here exclusively to institu- tional or accredited investors pursuant to Sections 304, 305(1) and 305(2) of the Securities and Futures Act 2001). Where units are distributed outside Liechtenstein, the pertinent provisions in the respective country shall apply. The units have not been registered under the United States Securities Act 1933. With regard to distribution in the United States or to US citizens or persons resident in the United States, the restrictions detailed the constituent documents shall apply. | en | de |
DOLFIN3408 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# QUELS SONT LES RISQUES ET QU’EST-CE QUE CELA POURRAIT ME RAPPORTER?
L'indicateur synthétique de risque permet d'apprécier le niveau de risque de ce produit par rapport à d'autres. Il indique la probabilité que ce produit enregistre des pertes en cas de mouvements sur les marchés ou d'une impossibilité de notre part de vous payer.
Les risques non suffisamment pris en compte par l'indicateur incluent notamment :
- Risque de crédit : le fonds est investi dans des titres dont la qualité de crédit peut se détériorer, il existe donc un risque que l'émetteur ne puisse pas faire face à ses engagements. En cas de dégradation de la qualité de crédit d'un émetteur, la valeur des instruments financiers liés à cet émetteur peut baisser.
- Risque de liquidité: les marchés sur lesquels le fonds intervient peuvent être occasionnellement affectés par un manque de liquidité temporaire. Ces dérèglements de marché peuvent impacter les conditions de prix auxquelles le fonds peut être amené à liquider, initier ou modifier des positions.
- Risque de contrepartie : le fonds peut subir des pertes en cas de défaillance d'une contrepartie incapable de faire face à ses obligations contractuelles, notamment dans le cadre d'opérations impliquant des instruments dérivés sur des marchés de gré à gré.
- Risque lié à l'impact des techniques telles que les produits dérivés : l'utilisation des produits dérivés peut entraîner des risques de pertes spécifiques à ces stratégies. | # ¿QUÉ RIESGOS CORRO Y QUÉ PODRÍA OBTENER A CAMBIO?
El indicador resumido de riesgo es una guía del nivel de riesgo de este producto en comparación con otros productos. Muestra las probabilidades de que el producto pierda dinero debido a la evolución de los mercados o porque no podamos pagarle.
Entre los principales riesgos que no están adecuadamente reflejados en el indicador se incluyen los siguientes:
- Riesgo de crédito: el fondo invierte en títulos cuya calidad crediticia puede deteriorarse. Existe, por tanto, el riesgo de que el emisor no sea capaz de atender sus obligaciones. En caso de deterioro de la calidad crediticia de un emisor, el valor de los instrumentos financieros vinculados a dicho emisor puede bajar.
- Riesgo de liquidez: los mercados en los que invierte el fondo pueden verse afectados ocasionalmente por una falta de liquidez temporal. Estos desajustes del mercado pueden influir negativamente en las condiciones de precio en las que el fondo puede verse obligado a vender, iniciar o modificar posiciones.
- Riesgo de contraparte: el fondo puede registrar pérdidas si una contraparte incumple sus obligaciones contractuales al ser incapaz de satisfacerlas, en particular en el marco de operaciones que impliquen la utilización de instrumentos derivados en mercados OTC.
- Riesgo vinculado a estrategias específicas, como los productos derivados: La utilización de productos derivados puede conllevar riesgos de pérdidas inherentes a dichas estrategias. | # QUELS SONT LES RISQUES ET QU’EST-CE QUE CELA POURRAIT ME RAPPORTER?
L'indicateur synthétique de risque permet d'apprécier le niveau de risque de ce produit par rapport à d'autres. Il indique la probabilité que ce produit enregistre des pertes en cas de mouvements sur les marchés ou d'une impossibilité de notre part de vous payer.
Les risques non suffisamment pris en compte par l'indicateur incluent notamment :
- Risque de crédit : le fonds est investi dans des titres dont la qualité de crédit peut se détériorer, il existe donc un risque que l'émetteur ne puisse pas faire face à ses engagements. En cas de dégradation de la qualité de crédit d'un émetteur, la valeur des instruments financiers liés à cet émetteur peut baisser.
- Risque de liquidité: les marchés sur lesquels le fonds intervient peuvent être occasionnellement affectés par un manque de liquidité temporaire. Ces dérèglements de marché peuvent impacter les conditions de prix auxquelles le fonds peut être amené à liquider, initier ou modifier des positions.
- Risque de contrepartie : le fonds peut subir des pertes en cas de défaillance d'une contrepartie incapable de faire face à ses obligations contractuelles, notamment dans le cadre d'opérations impliquant des instruments dérivés sur des marchés de gré à gré.
- Risque lié à l'impact des techniques telles que les produits dérivés : l'utilisation des produits dérivés peut entraîner des risques de pertes spécifiques à ces stratégies. | fr | es |
DOLFIN3409 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
### The Index aims to track the performance of a basket of stocks of companies that are actively engaged in providing cyber security technology and services.
The Index is comprised of companies which are publically traded on various stock exchanges around the world that generate a material proportion of their revenues from the cyber security industry. The industry is deemed to be comprised of companies in the following two subsectors: (1) Infrastructure Providers that develop hardware and software for safeguarding internal and external access to files, websites and networks; and (2) Service Providers that provide consulting and secure cyber‑based services.
A company is only eligible for inclusion in the Index if it is of a sufficient size (determined by reference to the total market value of its shares) and it is sufficiently “liquid” (a measure of how actively its shares are traded on a daily basis).
Within the Index, the weights allocated to the Infrastructure Provider and Service Provider subsectors are determined by reference to the relative size of each sector (i.e. the total market value of the shares of all companies within each subsector). Initially, the companies are equally weighted within each subsector. However, an adjustment to the weights is made if any company falls short of a liquidity test that is applied to each company individually. | ### L’Indice vise à mesurer la performance d’un panier d’actions de sociétés actives dans la cybersécurité (technologies et services).
L’Indice est composé de sociétés cotées sur diverses bourses à travers le monde qui réalisent une part importante de leur chiffre d’affaires dans le secteur de la cybersécurité. On considère que ce secteur est composé des sociétés actives dans les deux sous‑secteurs suivants : (1) les fournisseurs d’infrastructures qui développent du matériel informatique et des logiciels destinés à protéger l’accès interne et externe à des fichiers, des sites web et des réseaux ; et (2) les fournisseurs de services qui proposent des prestations de consultation et liées à la cybersécurité.
Une société est admissible dans l’Indice seulement si (1) elle est d’une taille suffisante (déterminée en fonction de la valeur de marché totale de ses actions) et si (2) elle est suffisamment liquide (c.‑à‑d. que ses actions sont négociées quotidiennement et de manière active). Au sein de l’Indice, les pondérations attribuées aux sous‑secteurs des fournisseurs d’infrastructures et des fournisseurs de services sont fixées en fonction de la taille relative de chaque secteur (c.‑à‑d. la valeur de marché totale des actions de toutes les sociétés au sein de chaque secteur). À la base, toutes les sociétés ont la même pondération dans chaque sous‑ secteur. Toutefois, les pondérations peuvent être réajustées si une société ne répond pas au critère de liquidité qui s’applique individuellement à chaque société. | ### The Index aims to track the performance of a basket of stocks of companies that are actively engaged in providing cyber security technology and services.
The Index is comprised of companies which are publically traded on various stock exchanges around the world that generate a material proportion of their revenues from the cyber security industry. The industry is deemed to be comprised of companies in the following two subsectors: (1) Infrastructure Providers that develop hardware and software for safeguarding internal and external access to files, websites and networks; and (2) Service Providers that provide consulting and secure cyber‑based services.
A company is only eligible for inclusion in the Index if it is of a sufficient size (determined by reference to the total market value of its shares) and it is sufficiently “liquid” (a measure of how actively its shares are traded on a daily basis).
Within the Index, the weights allocated to the Infrastructure Provider and Service Provider subsectors are determined by reference to the relative size of each sector (i.e. the total market value of the shares of all companies within each subsector). Initially, the companies are equally weighted within each subsector. However, an adjustment to the weights is made if any company falls short of a liquidity test that is applied to each company individually. | en | fr |
DOLFIN3410 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Investissement de 10 000 USD | Si vous en sortez après 1 an | Si vous en sortez après 5 ans |
| --- | --- | --- |
| Coûts totaux | 9.00 USD | 54.00 USD |
| Impact sur le rendement (RIY) par an | 0.09% | 0.09% | | | Inversión de 10.000 USD | Si liquida su inversión después de 1 año | Si liquida su inversión después de 5 años |
| --- | --- | --- |
| Costes totales | 9.00 USD | 54.00 USD |
| Impacto en la rentabilidad (RIY) cada año | 0.09% | 0.09% | | | Investissement de 10 000 USD | Si vous en sortez après 1 an | Si vous en sortez après 5 ans |
| --- | --- | --- |
| Coûts totaux | 9.00 USD | 54.00 USD |
| Impact sur le rendement (RIY) par an | 0.09% | 0.09% | | fr | es |
DOLFIN3411 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# Risk warning
The value of investments and any income derived from them can go down as well as up as a result of market or currency movements and investors may not get back the original amount invested. Investments which are concentrated in a specific sector or country may result in less diversification and hence more volatility in investment values. Investments in smaller companies carry a higher degree of risk as their shares may be less liquid and investment values can be volatile. An investment concerns the acquisition of units or shares in a fund, and not underlying assets such as buildings or shares of a company, as these are only the underlying assets owned by the fund. The decision to invest in the promoted fund should also take into account all the characteristics or objectives of the promoted fund as described in the prospectus. Full list of relevant risks can be found in the KIID and prospectus. | # Rischi di investimento
A causa delle fluttuazioni dei mercati azionari e valutari, il valore dei vostri investimenti e il conseguente rendimento possono diminuire così come aumentare e potreste non recuperare quanto originariamente investito. Gli investimenti che sono concentrati in uno specifico settore o paese possono determinare una minore diversificazione e quindi una maggiore volatilità dei valori dell’investimento. Gli investimenti in piccole imprese comportano un maggior grado di rischio poiché le loro azioni potrebbero essere meno liquide ed i valori dell’investimento volatili. Un investimento comporta l’acquisto di quote o azioni di un fondo, e non implica l’acquisto di attività sottostanti come edifici o azioni di una società, essendo queste ultime le attività sottostanti di proprietà del fondo. Prima di prendere qualsiasi decisione di investimento nel fondo oggetto della presente comunicazione promozionale gli investitori devono inoltre tenere conto di tutte le caratteristiche o obiettivi del fondo oggetto della comunicazione promozionale come descritti nel Prospetto. L’elenco completo dei rischi rilevanti è riportato nel KIID e nel prospetto. | # Risk warning
The value of investments and any income derived from them can go down as well as up as a result of market or currency movements and investors may not get back the original amount invested. Investments which are concentrated in a specific sector or country may result in less diversification and hence more volatility in investment values. Investments in smaller companies carry a higher degree of risk as their shares may be less liquid and investment values can be volatile. An investment concerns the acquisition of units or shares in a fund, and not underlying assets such as buildings or shares of a company, as these are only the underlying assets owned by the fund. The decision to invest in the promoted fund should also take into account all the characteristics or objectives of the promoted fund as described in the prospectus. Full list of relevant risks can be found in the KIID and prospectus. | en | it |
DOLFIN3412 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# Investment Objective & Philosophy
The Sub-Fund seeks high total return provided by current income and capital appreciation. To achieve this objective, the Sub-Fund invests at least 80% of its net assets in high yield bonds of U.S. issuers (which means issuers of securities traded on the U.S. domestic market, or issuers residing in the U.S. and/or whose main business and/or principal registered office are located in the U.S.), which are rated below investment grade or are unrated and determined by the Investment Manager to be of similar quality. | # Obiettivo e filosofia d’investimento
Il Comparto persegue un elevato rendimento totale, derivante dal reddito corrente e dalla rivalutazione del capitale. Per raggiungere questo obiettivo, il Comparto investe almeno l’80% del suo patrimonio netto in obbligazioni high yield di emittenti statunitensi (ossia emittenti di titoli negoziati sul mercato domestico statunitense, o emittenti residenti negli Stati Uniti e/o la cui attività principale e/o sede legale principale si trovi negli Stati Uniti), con rating inferiore a investment grade o privi di rating e che il Gestore degli investimenti ritiene di qualità analoga. | # Investment Objective & Philosophy
The Sub-Fund seeks high total return provided by current income and capital appreciation. To achieve this objective, the Sub-Fund invests at least 80% of its net assets in high yield bonds of U.S. issuers (which means issuers of securities traded on the U.S. domestic market, or issuers residing in the U.S. and/or whose main business and/or principal registered office are located in the U.S.), which are rated below investment grade or are unrated and determined by the Investment Manager to be of similar quality. | en | it |
DOLFIN3413 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Processus de gestion
- Le Fonds est géré activement.
- L'indice de référence est utilisé comme référence pour la construction du portefeuille et pour définir les contraintes de risque.
- Afin d'atteindre son objectif, le Fonds prendra des positions dont les pondérations sont différentes de l'indice de référence ou investira dans des titres qui ne sont pas inclus dans l'indice de référence. Les investissements du Fonds et leur pondération peuvent être très différents de ceux qui composent l’indice.
- En raison des contraintes de risque du Fonds, son profil de performance peut s’écarter sensiblement de celui del’indice de référence sur le long terme.
- abrdn intègre les considérations environnementales, sociales et de gouvernance (ESG) au processus d’investissement. Les détails de l’approche d’intégration des facteurs ESG pour l’investissement en obligations sont publiés sur www.abrdn.com sous « Sustainable Investing » (Investissement durable). | # Proceso de gestión
- El fondo se gestiona activamente.
- El índice de referencia se usa como punto de referencia para la confección de la cartera y como base para fijar las restricciones al riesgo.
- Con el fin de alcanzar su objetivo, el fondo adoptará posiciones cuyas ponderaciones divergen del índice de referencia o invertirá en valores que no están incluidos en el índice de referencia. Las inversiones del fondo podrán diferir significativamente de los componentes del índice de referencia y sus respectivas ponderaciones.
- Debido a las limitaciones del riesgo del fondo, no se espera por lo general que su perfil de rentabilidad se desvíe significativamente con respecto al del índice de referencia a largo plazo.
- abrdn integra consideraciones medioambientales, sociales y de gobierno corporativo (ESG) dentro del proceso de inversión. La información del enfoque hacia la renta fija con integración de factores ESG se publica en www.abrdn. com bajo el apartado \“Inversión sostenible\”. | # Processus de gestion
- Le Fonds est géré activement.
- L'indice de référence est utilisé comme référence pour la construction du portefeuille et pour définir les contraintes de risque.
- Afin d'atteindre son objectif, le Fonds prendra des positions dont les pondérations sont différentes de l'indice de référence ou investira dans des titres qui ne sont pas inclus dans l'indice de référence. Les investissements du Fonds et leur pondération peuvent être très différents de ceux qui composent l’indice.
- En raison des contraintes de risque du Fonds, son profil de performance peut s’écarter sensiblement de celui del’indice de référence sur le long terme.
- abrdn intègre les considérations environnementales, sociales et de gouvernance (ESG) au processus d’investissement. Les détails de l’approche d’intégration des facteurs ESG pour l’investissement en obligations sont publiés sur www.abrdn.com sous « Sustainable Investing » (Investissement durable). | fr | es |
DOLFIN3414 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# This type of scenario occurred for an investment CS (Lux) Asia Corporate Bond Fund EBH CHF between 30/09/2015-30/09/2020.
Moderate scenario
What you might get back after costs
Average return each year
CHF 10,180
1.80%
CHF 10,595
1.20% | # Este tipo de escenario se produjo para una inversión CS (Lux) Asia Corporate Bond Fund EBH CHF entre 30/09/2015-30/09/2020.
Escenario moderado
Lo que podría recibir una vez deducidos los costes
Rendimiento promedio cada año
10 180 CHF
1,80%
10 595 CHF
1,20% | # This type of scenario occurred for an investment CS (Lux) Asia Corporate Bond Fund EBH CHF between 30/09/2015-30/09/2020.
Moderate scenario
What you might get back after costs
Average return each year
CHF 10,180
1.80%
CHF 10,595
1.20% | en | es |
DOLFIN3415 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
UBAM - GLOBAL TECH CONVERTIBLE BOND
-6,38 % -2,13 % -24,78 % -26,51 %
Depuis le lancement. Source des données: UBP. Les fluctuations des taux de change peuvent avoir un impact positif ou négatif sur la performance. La performance passée n'est pas un indicateur fiable des résultats futurs. Les investissements peuvent voir leur valeur baisser ou croître. Indiquées dans la devise de la catégorie de parts, les performances passées intègrent les dividendes réinvestis, et elles sont exprimées brutes des frais courants. Le calcul ne tient pas compte des frais de vente et autres coûts, des prélèvements d'impôts et des coûts applicables que l'investisseur doit acquitter. Ainsi, sur un montant investi d'EUR 100 avec des frais d'entrée de 1%, l'investissement effectif s'élèverait à EUR 99. Par ailleurs, d'autres coûts peuvent être imputés à l'investisseur (p. ex. prime d'émission ou droits de garde prélevés par l'intermédiaire financier). | UBAM - GLOBAL TECH CONVERTIBLE BOND
-6,38 % -2,13 % -24,78 % -26,51 %
Desde creación. Fuente de los datos: UBP. Las fluctuaciones del tipo de cambio pueden afectar a la rentabilidad de forma favorable o desfavorable. La rentabilidad pasada no es un indicador fiable de la rentabilidad futura. El valor de las inversiones puede aumentar o disminuir. Las cifras de rentabilidad pasada se expresan en la moneda de la clase de activos, se han calculan presuponiendo la reinversión de los dividendos y no se han descontado los gastos corrientes. Dicho cálculo no tiene en cuenta las comisiones de venta y otras comisiones, los impuestos y otros costos aplicables a cargo del inversor. Por ejemplo, en el caso de una inversión por importe de 100 euros con una comisión de entrada del 1%, la inversión efectiva será de 99 euros. Es posible que el inversor soporte otros costos adicionales (por ejemplo, la prima de emisión o la comisión de custodia
del intermediario financiero). | UBAM - GLOBAL TECH CONVERTIBLE BOND
-6,38 % -2,13 % -24,78 % -26,51 %
Depuis le lancement. Source des données: UBP. Les fluctuations des taux de change peuvent avoir un impact positif ou négatif sur la performance. La performance passée n'est pas un indicateur fiable des résultats futurs. Les investissements peuvent voir leur valeur baisser ou croître. Indiquées dans la devise de la catégorie de parts, les performances passées intègrent les dividendes réinvestis, et elles sont exprimées brutes des frais courants. Le calcul ne tient pas compte des frais de vente et autres coûts, des prélèvements d'impôts et des coûts applicables que l'investisseur doit acquitter. Ainsi, sur un montant investi d'EUR 100 avec des frais d'entrée de 1%, l'investissement effectif s'élèverait à EUR 99. Par ailleurs, d'autres coûts peuvent être imputés à l'investisseur (p. ex. prime d'émission ou droits de garde prélevés par l'intermédiaire financier). | fr | es |
DOLFIN3416 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# INFORMATIONS PRATIQUES
Ce document ne décrit qu'une seule catégorie d'actions ; d'autres catégories d'actions sont disponibles.
La possibilité de passer à une autre classe d'actions au sein de ce fonds est assujettie à la disponibilité, à la conformité à toute exigence d'éligibilité et/ou autres conditions ou restrictions spécifiques concernant ce fonds ou tout autre fonds au sein d'Aberdeen Standard SICAV III. Veuillez consulter le prospectus pour plus d'informations.
Pour plus d'informations sur Aberdeen Standard SICAV III, y compris le prospectus*, le rapport et les comptes annuels, les rapports semestriels**, les derniers cours des actions ou autres informations pratiques, veuillez consulter le site www.abrdn.com sur lequel vous pouvez obtenir des documents gratuitement. Vous pouvez également obtenir des informations supplémentaires auprès de abrdn Investments Luxembourg S.A., 35a, Avenue J.F. Kennedy, L-1855 Luxembourg.
Téléphone : (+352) 46 40 10 820 E-mail : [email protected]. Le Prospectus, les rapports annuels et intermédiaires couvrent tous les fonds d'Aberdeen Standard SICAV III. Bien qu'Aberdeen Standard SICAV III soit une entité juridique unique, les droits des investisseurs dans ce Fonds sont limités aux actifs de ce Fonds.
Le dépositaire et administrateur du Fonds est The Bank of New York Mellon SA/NV, succursale du Luxembourg.
La loi fiscale du Luxembourg peut avoir un impact sur votre situation fiscale personnelle.
abrdn ne peut être tenu responsable que sur la base de toute déclaration du présent document qui serait trompeuse, inexacte ou incompatible avec les parties pertinentes du Prospectus* du Fonds. Les informations détaillées sur la politique de rémunération actuelle en
vertu de la directive OPCVM V, y compris, mais de manière non exhaustive, une description du mode de calcul de la rémunération et des avantages, l'identité des personnes responsables de l'attribution de la rémunération et des avantages, dont la composition du comité de rémunération, sont disponibles www.abrdn.com. Une copie papier sera fournie sans frais sur demande auprès de la Société de gestion.
*Disponible en EN, FR, DE et IT, **Disponible en DE et EN.
La Aberdeen Standard SICAV III est agréée au Luxembourg et réglementée par la Commission de Surveillance du Secteur Financier (CSSF) en vertu de la loi UCITs de 2010. Les informations clés pour l'investisseur ici fournies sont exactes et à jour au 03/10/2022.
abrdn Investments Luxembourg S.A. est agréée au Luxembourg et réglementée par la CSSF et a son siège social au 35a avenue John F. Kennedy, L-1855 Luxembourg, Grand-Duché de Luxembourg, RCS No.B120637. | # INFORMACIÓN PRÁCTICA
Este documento describe solo una clase de participaciones; hay otras clases de participaciones disponibles.
La opción de cambiar a otra clase de participaciones dentro de este fondo o cualquier otro fondo está sujeta a la disponibilidad, el cumplimiento de los requisitos de elegibilidad y/u otras condiciones o restricciones específicas vinculadas a este fondo o cualquier otro fondo dentro de Aberdeen Standard SICAV III. Le rogamos consulte el folleto para obtener más información.
Encontrará más información acerca de Aberdeen Standard SICAV III, incluidos el folleto*, el informe y las cuentas anuales, los informes semestrales** y los precios más recientes de las participaciones, además de otra información práctica, en www.abrdn.com, donde podrá obtener los documentos gratuitamente. También puede obtener más información de abrdn Investments Luxembourg S.A., 35a, Avenue J.F. Kennedy, L-1855 Luxemburgo. Teléfono: (+352) 46 40 10 820 E-mail: [email protected].
El folleto, el informe anual y los informes provisionales abarcan todos los fondos en el seno de Aberdeen Standard SICAV III. Si bien Aberdeen Standard SICAV III es una sola persona jurídica, los derechos de los inversores relativos a este fondo se limitan a los activos de este fondo.
El depositario y administrador del fondo es The Bank of New York Mellon SA/NV, Luxembourg Branch.
La legislación fiscal de Luxemburgo podría afectar a su consideración fiscal personal.
abrdn solo podrá considerarse responsable con base en cualquier declaración contenida en este documento que sea engañosa, inexacta
o inconsistente con las partes relevantes del folleto* del fondo.
Los detalles sobre la política de retribución actualizada de OICVM V, incluidas, sin carácter limitativo, una descripción de la forma en que se calculan la retribución y los beneficios, las identidades de las personas responsables de otorgar la retribución y los beneficios y la composición del comité de remuneración, están disponibles en www.abrdn.com. Se puede solicitar una copia impresa gratuitamente en el domicilio social de la sociedad gestora.
*Disponible en inglés, francés, alemán e italiano. **Disponible en alemán e inglés.
El Aberdeen Standard SICAV III está autorizado en Luxemburgo y regulado por la Commission de Surveillance du Secteur Financier (CSSF) de conformidad con la legislación sobre OICVM de 2010. Los presentes datos fundamentales para el inversor son exactos a 03/10/2022.
abrdn Investments Luxembourg S.A. está autorizada en Luxemburgo y está regulada por la CSSF, con domicilio social en 35a avenue John F. Kennedy, L-1855 Luxemburgo, Gran Ducado de Luxemburgo, RCS No.B120637. | # INFORMATIONS PRATIQUES
Ce document ne décrit qu'une seule catégorie d'actions ; d'autres catégories d'actions sont disponibles.
La possibilité de passer à une autre classe d'actions au sein de ce fonds est assujettie à la disponibilité, à la conformité à toute exigence d'éligibilité et/ou autres conditions ou restrictions spécifiques concernant ce fonds ou tout autre fonds au sein d'Aberdeen Standard SICAV III. Veuillez consulter le prospectus pour plus d'informations.
Pour plus d'informations sur Aberdeen Standard SICAV III, y compris le prospectus*, le rapport et les comptes annuels, les rapports semestriels**, les derniers cours des actions ou autres informations pratiques, veuillez consulter le site www.abrdn.com sur lequel vous pouvez obtenir des documents gratuitement. Vous pouvez également obtenir des informations supplémentaires auprès de abrdn Investments Luxembourg S.A., 35a, Avenue J.F. Kennedy, L-1855 Luxembourg.
Téléphone : (+352) 46 40 10 820 E-mail : [email protected]. Le Prospectus, les rapports annuels et intermédiaires couvrent tous les fonds d'Aberdeen Standard SICAV III. Bien qu'Aberdeen Standard SICAV III soit une entité juridique unique, les droits des investisseurs dans ce Fonds sont limités aux actifs de ce Fonds.
Le dépositaire et administrateur du Fonds est The Bank of New York Mellon SA/NV, succursale du Luxembourg.
La loi fiscale du Luxembourg peut avoir un impact sur votre situation fiscale personnelle.
abrdn ne peut être tenu responsable que sur la base de toute déclaration du présent document qui serait trompeuse, inexacte ou incompatible avec les parties pertinentes du Prospectus* du Fonds. Les informations détaillées sur la politique de rémunération actuelle en
vertu de la directive OPCVM V, y compris, mais de manière non exhaustive, une description du mode de calcul de la rémunération et des avantages, l'identité des personnes responsables de l'attribution de la rémunération et des avantages, dont la composition du comité de rémunération, sont disponibles www.abrdn.com. Une copie papier sera fournie sans frais sur demande auprès de la Société de gestion.
*Disponible en EN, FR, DE et IT, **Disponible en DE et EN.
La Aberdeen Standard SICAV III est agréée au Luxembourg et réglementée par la Commission de Surveillance du Secteur Financier (CSSF) en vertu de la loi UCITs de 2010. Les informations clés pour l'investisseur ici fournies sont exactes et à jour au 03/10/2022.
abrdn Investments Luxembourg S.A. est agréée au Luxembourg et réglementée par la CSSF et a son siège social au 35a avenue John F. Kennedy, L-1855 Luxembourg, Grand-Duché de Luxembourg, RCS No.B120637. | fr | es |
DOLFIN3417 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The Management Company has produced a remuneration policy in accordance with the applicable legal and regulatory requirements, particularly the UCI Act and the relevant ESMA guidelines on sound remuneration policies (ESMA/2016/411); this policy applies to all employees, in particular those identified under the UCI Act and including the salaried directors and executives of the Management Company. The remuneration policy has been prepared with the aim of protecting the interests of the investors as well as the interests of the Management Company and the Group on a long-term, sustainable basis. It is also in line with the business strategy, the goals and values of the Management Company and the funds it manages, and comprises measures aimed at avoiding conflicts of interest.
The remuneration policy is designed to promote effective, sound risk management and to prevent excessive risk-taking.
Employee remuneration consists of a fixed and a variable component; these are in due proportion to one another, such that percentage of the fixed component of total remuneration is high enough to facilitate total
flexibility in relation to the variable component and also to be able to waive payment of a variable component entirely. The variable component is largely based on the consolidated net income, the performance of the Management Company and the function and performance of the employee.
The performance targets for individual employees are assessed and reviewed annually. The annual assessment provides a basis for setting the level of variable remuneration and any increase in the fixed element. Financial as well as non-financial criteria are taken into account when assessing an employee’s individual performance. The variable component may be waived entirely following a failure to meet performance targets or a poor business result.
The version of the remuneration policy currently in force, which includes a precise description of this policy, details of how remuneration is calculated, other compensation and the identity of the persons responsible for awarding the remuneration, is available at www.swisscanto.com/lu/de/gs/rechtliche-hinweise/verguetungspolitik.html and in hard copy, free of charge, at the registered office of the Management Company.
-
# Accounting reports | Die Verwaltungsgesellschaft hat eine Vergütungspolitik im Einklang mit den geltenden rechtlichen und regulatorischen Vorschriften, insbesondere dem OGA-Gesetz sowie den entsprechenden ESMA Leitlinien für eine solide Vergütungspolitik (ESMA/2016/411) erstellt, die für alle Mitarbeiter, insbesondere den gemäss dem OGA-Gesetz identifizierten Mitarbeitern und einschliesslich der angestellten Geschäftsführer und Geschäftsleiter der Verwaltungsgesellschaft, gilt. Die Vergütungspolitik ist mit dem Ziel erstellt worden, die Anlegerinteressen sowie die Interessen der Verwaltungsgesellschaft und des Konzerns langfristig und nachhaltig zu schützen. Zudem steht sie im Einklang mit der Geschäftsstrategie, den Zielen und Werten der Verwaltungsgesellschaft und der von ihr verwalteten Fonds und umfasst Massnahmen, anhand derer Interessenkonflikte vermieden werden sollen.
Die Vergütungspolitik ist darauf angelegt, ein wirksames und solides Risikomanagement zu fördern und eine übermässige Übernahme von Risiken zu verhindern.
Die Vergütung der Angestellten setzt sich aus einer festen und einer variablen Komponente zusammen, wobei sie in einem angemessenen Verhältnis zueinander stehen, so dass der Anteil der festen Komponente an der Gesamtvergütung hoch genug ist, um eine flexible Politik bezüglich der variablen Komponente uneingeschränkt möglich zu machen und auch ganz auf die Zahlung einer variablen Komponente verzichten zu können. Die
variable Komponente basiert massgeblich auf dem Konzernergebnis, der Leistung der Verwaltungsgesellschaft sowie der Funktion und Leistung des Angestellten.
Die individuellen Leistungsziele der Angestellten werden jährlich beurteilt und festgelegt. Die jährliche Beurteilung legt die Basis für die Festlegung der Höhe der variablen Vergütung und eine eventuelle Erhöhung der festen Vergütung. Bei der Bewertung der individuellen Leistung eines Angestellten werden sowohl finanzielle als auch nichtfinanzielle Kriterien verwendet. Die variable Vergütung kann bei ungenügender Zielerreichung oder schlechtem Geschäftsresultat ganz entfallen.
Die jeweils gültige Fassung der Vergütungspolitik, die eine genaue Beschreibung dieser Politik, die Einzelheiten zur Berechnung der Vergütung, die sonstigen Zuwendungen sowie die Identität der für die Zuteilung der Vergütung zuständigen Personen umfasst, wird auf der folgenden Internetseite www.swisscanto.com/lu/de/gs/rechtliche-hinweise/verguetungspolitik.htmlund in Papierform auf Anfrage kostenlos am Sitz der Verwaltungsgesellschaft zur Verfügung gestellt.
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# Rechenschaftsberichte | The Management Company has produced a remuneration policy in accordance with the applicable legal and regulatory requirements, particularly the UCI Act and the relevant ESMA guidelines on sound remuneration policies (ESMA/2016/411); this policy applies to all employees, in particular those identified under the UCI Act and including the salaried directors and executives of the Management Company. The remuneration policy has been prepared with the aim of protecting the interests of the investors as well as the interests of the Management Company and the Group on a long-term, sustainable basis. It is also in line with the business strategy, the goals and values of the Management Company and the funds it manages, and comprises measures aimed at avoiding conflicts of interest.
The remuneration policy is designed to promote effective, sound risk management and to prevent excessive risk-taking.
Employee remuneration consists of a fixed and a variable component; these are in due proportion to one another, such that percentage of the fixed component of total remuneration is high enough to facilitate total
flexibility in relation to the variable component and also to be able to waive payment of a variable component entirely. The variable component is largely based on the consolidated net income, the performance of the Management Company and the function and performance of the employee.
The performance targets for individual employees are assessed and reviewed annually. The annual assessment provides a basis for setting the level of variable remuneration and any increase in the fixed element. Financial as well as non-financial criteria are taken into account when assessing an employee’s individual performance. The variable component may be waived entirely following a failure to meet performance targets or a poor business result.
The version of the remuneration policy currently in force, which includes a precise description of this policy, details of how remuneration is calculated, other compensation and the identity of the persons responsible for awarding the remuneration, is available at www.swisscanto.com/lu/de/gs/rechtliche-hinweise/verguetungspolitik.html and in hard copy, free of charge, at the registered office of the Management Company.
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# Accounting reports | en | de |
DOLFIN3418 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# Past performance
The performance figures shown in the bar chart are not a reliable indication of future performance.
Annualised performance is calculated after deducting all charges taken from the Fund.
Performances (%)
10.7
12.0
Fund creation date: 9 October 2014
12
Share class launch date: 18 June 2015
7.5
10
Base currency: Euro.
8
3.2
6
Indicative Benchmark: MSCI Daily TR Net World Index.
4
2
0
-2
-4
-6
2015 2016 2017 2018 2019
Most Diversified Portfolio SICAV - TOBAM Anti-Benchmark World Equity Fund R3
Benchmark
Share class with periods of inactivity. | # Risultati ottenuti nel passato
I risultati illustrati nel diagramma non costituiscono un'indicazione affidabile circa i risultati futuri.
I risultati annualizzati sono calcolati al netto di tutte le commissioni prelevate dal Fondo.
Risultati (%)
10,7
12,0
Data di creazione del Fondo: 9 ottobre 2014
12
Data di creazione della classe di azioni: 18 giugno 2015
7,5
10
Valuta di riferimento: Euro.
8
3,2
6
Indice di riferimento indicativo: Indice MSCI Daily TR Net World.
4
2
0
-2
-4
-6
2015 2016 2017 2018 2019
Most Diversified Portfolio SICAV - TOBAM Anti-Benchmark World Equity Fund R3
Indice di riferimento
Classe di azioni con periodi di inattività. | # Past performance
The performance figures shown in the bar chart are not a reliable indication of future performance.
Annualised performance is calculated after deducting all charges taken from the Fund.
Performances (%)
10.7
12.0
Fund creation date: 9 October 2014
12
Share class launch date: 18 June 2015
7.5
10
Base currency: Euro.
8
3.2
6
Indicative Benchmark: MSCI Daily TR Net World Index.
4
2
0
-2
-4
-6
2015 2016 2017 2018 2019
Most Diversified Portfolio SICAV - TOBAM Anti-Benchmark World Equity Fund R3
Benchmark
Share class with periods of inactivity. | en | it |
DOLFIN3419 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# INFORMATIONS IMPORTANTES
Le présent document publicitaire contient ou peut contenir par référence des données concernant certains placements collectifs de capitaux («fonds») qui sont disponibles à la distribution uniquement dans les pays dans lesquels ils ont été enregistrés. Il est destiné à votre usage exclusif et n'est pas destiné à toute personne citoyenne ou résidente d'une juridiction dans laquelle la publication, la distribution ou l'utilisation des informations contenues dans le présent document seraient soumises à des restrictions. Il ne peut pas non plus être copié ou transféré.
Ce document est fourni à titre d'information uniquement et ne doit pas être considéré comme une offre ou une recommandation de souscrire, conserver ou vendre des parts ou actions de fonds, une stratégie d'investissement ou tout autre produit d'investissement. Avant d'investir dans un fonds ou d'adopter toute stratégie d'investissement, les investisseurs potentiels sont invités à prendre en compte toutes leurs caractéristiques ou objectifs et consulter les documents juridiques pertinents. Il est recommandé aux investisseurs potentiels de consulter préalablement des conseillers financiers, juridiques et fiscaux professionnels. Les informations contenues dans le présent document sont issues de sources jugées fiables. Toutefois, l'exactitude et l'exhaustivité des informations ne peuvent être garanties, et certains chiffres peuvent n'être que des estimations. En outre, toute opinion exprimée est susceptible d'être modifiée sans préavis. Aucune garantie n'est donnée quant à la réalisation des objectifs et cibles par le gérant du fonds.
Tout investissement comporte des risques, les rendements peuvent diminuer ou augmenter en raison des fluctuations des devises et les investisseurs peuvent perdre le montant de leur investissement initial. La performance historique ne représente pas un indicateur ou une garantie de performance future.
Cette communication est uniquement destinée à des contreparties éligibles et des investisseurs professionnels et ne doit pas être distribuée aux investisseurs de détail pour lesquels elle n'est pas adaptée.
Emis par: au Royaume-Uni: Mirabaud Asset Management Limited, qui est autorisée et réglementée par la Financial Conduct Authority. En Suisse: Mirabaud Asset Management (Suisse) SA, 29, boulevard Georges-Favon, 1204 Genève, en qualité de représentant en Suisse. Agent payeur en Suisse: Mirabaud & Cie SA, 29, boulevard Georges-Favon, 1204 Genève. En France: Mirabaud Asset Management (France) SAS, 13, avenue Hoche, 75008 Paris. Au Luxembourg, en Italie et en Espagne : Mirabaud Asset Management (Europe) SA, 6B, rue du Fort Niedergruenewald, 2226 Luxembourg. Le Prospectus, les Statuts, le Document d'information clé pour l'investisseur (DICI) ainsi que les rapports annuels et semestriels (selon le cas) relatifs aux fonds peuvent être obtenus sans frais auprès des entités susmentionnées et sur le site Internet: https://www.mirabaud-am.com/en/funds-list/. De plus amples informations sur la durabilité sont accessibles via le lien suivant: https://www.mirabaud-am.com/en/responsibly-sustainable.
Les données relatives aux indices mentionnées dans le présent document sont la propriété d'ICE Data Indices, LLC, de ses Sociétés affiliées (« ICE Data ») et/ou de ses Fournisseurs tiers et sont utilisées avec l'autorisation de Mirabaud Asset Management (Suisse) SA. ICE Data et ses Fournisseurs tiers déclinent toute responsabilité à l'égard de leur utilisation. | # INFORMACIÓN IMPORTANTE
El presente documento publicitario contiene información o puede hacer referencia a datos en relación con determinados organismos de inversión colectiva («fondos») que solo están disponibles para su distribución en los países en los que se han registrado. Es para su uso exclusivo y no está dirigido a ninguna persona que sea ciudadano o residente de alguna jurisdicción en la que la publicación, distribución o uso de la información contenida en el mismo estén sujetos a restricciones. Tampoco está permitido su reproducción o distribución.
Este documento se proporciona únicamente con fines informativos y no debe interpretarse como una oferta ni como una recomendación para suscribir, conservar o ceder participaciones, acciones, productos o estrategias de inversión de fondos. Antes de invertir en cualquier fondo o seguir cualquier estrategia de inversión, los posibles inversores potenciales deben tener en cuenta todas sus características u objetivos, así como consultar los documentos legales pertinentes. Se recomienda a los posibles inversores que reciban previamente asesoramiento financiero, jurídico y fiscal profesional. Las fuentes de la información contenida en este documento se consideran fiables. Sin embargo, no se puede garantizar la exactitud ni la integridad de la información, y algunas cifras pueden ser solo estimaciones. Además, las opiniones expresadas están sujetas a cambios sin previo aviso. No hay garantía de que el gestor de carteras alcance los objetivos ni las metas.
Toda inversión conlleva riesgos, los rendimientos pueden disminuir o aumentar como consecuencia de las fluctuaciones monetarias, y los inversores pueden perder el importe de su inversión inicial. El rendimiento histórico no es indicativo ni garantía del rendimiento futuro.
Esta comunicación está destinada solo a contrapartes elegibles e inversores profesionales y no debe ser distribuida a inversores particulares para los que no es adecuada.
Emitido por: En el Reino Unido: Mirabaud Asset Management Limited, autorizada y regulada por la Autoridad de Conducta Financiera. En Suiza: Mirabaud Asset Management (Suisse) SA, 29, boulevard Georges-Favon, 1204 Ginebra, como representante en Suiza. Agente de pagos en Suiza: Mirabaud & Cie SA, 29, boulevard Georges-Favon, 1204 Ginebra. En Francia: Mirabaud Asset Management (France) SAS., 13, avenue Hoche, 75008 París. En Luxemburgo, en España y en Italia: Mirabaud Asset Management (Europe) SA, 6B, rue du Fort Niedergruenewald, 2226 Luxembourgo. Las entidades mencionadas anteriormente pueden facilitarle de forma gratuita el Folleto, los Estatutos, el Documento de datos fundamentales para el inversor (KIID) y los informes anuales y semestrales (según sea el caso) de los fondos y en el sitio web: https://www.mirabaud-am.com/en/funds-list/.Puede obtener más información sobre la sostenibilidad a través del siguiente enlace: https://www.mirabaud-am.com/en/responsibly-sustainable.
Los datos del índice mencionados en el presente documento son propiedad de ICE Data Indices, LLC, sus empresas asociadas («ICE Data») y/o proveedores de terceros, y han sido autorizados para que Mirabaud Asset Management (Suisse) SA haga uso de ellos. ICE Data y sus proveedores de terceros no aceptan responsabilidad alguna en relación con su uso. | # INFORMATIONS IMPORTANTES
Le présent document publicitaire contient ou peut contenir par référence des données concernant certains placements collectifs de capitaux («fonds») qui sont disponibles à la distribution uniquement dans les pays dans lesquels ils ont été enregistrés. Il est destiné à votre usage exclusif et n'est pas destiné à toute personne citoyenne ou résidente d'une juridiction dans laquelle la publication, la distribution ou l'utilisation des informations contenues dans le présent document seraient soumises à des restrictions. Il ne peut pas non plus être copié ou transféré.
Ce document est fourni à titre d'information uniquement et ne doit pas être considéré comme une offre ou une recommandation de souscrire, conserver ou vendre des parts ou actions de fonds, une stratégie d'investissement ou tout autre produit d'investissement. Avant d'investir dans un fonds ou d'adopter toute stratégie d'investissement, les investisseurs potentiels sont invités à prendre en compte toutes leurs caractéristiques ou objectifs et consulter les documents juridiques pertinents. Il est recommandé aux investisseurs potentiels de consulter préalablement des conseillers financiers, juridiques et fiscaux professionnels. Les informations contenues dans le présent document sont issues de sources jugées fiables. Toutefois, l'exactitude et l'exhaustivité des informations ne peuvent être garanties, et certains chiffres peuvent n'être que des estimations. En outre, toute opinion exprimée est susceptible d'être modifiée sans préavis. Aucune garantie n'est donnée quant à la réalisation des objectifs et cibles par le gérant du fonds.
Tout investissement comporte des risques, les rendements peuvent diminuer ou augmenter en raison des fluctuations des devises et les investisseurs peuvent perdre le montant de leur investissement initial. La performance historique ne représente pas un indicateur ou une garantie de performance future.
Cette communication est uniquement destinée à des contreparties éligibles et des investisseurs professionnels et ne doit pas être distribuée aux investisseurs de détail pour lesquels elle n'est pas adaptée.
Emis par: au Royaume-Uni: Mirabaud Asset Management Limited, qui est autorisée et réglementée par la Financial Conduct Authority. En Suisse: Mirabaud Asset Management (Suisse) SA, 29, boulevard Georges-Favon, 1204 Genève, en qualité de représentant en Suisse. Agent payeur en Suisse: Mirabaud & Cie SA, 29, boulevard Georges-Favon, 1204 Genève. En France: Mirabaud Asset Management (France) SAS, 13, avenue Hoche, 75008 Paris. Au Luxembourg, en Italie et en Espagne : Mirabaud Asset Management (Europe) SA, 6B, rue du Fort Niedergruenewald, 2226 Luxembourg. Le Prospectus, les Statuts, le Document d'information clé pour l'investisseur (DICI) ainsi que les rapports annuels et semestriels (selon le cas) relatifs aux fonds peuvent être obtenus sans frais auprès des entités susmentionnées et sur le site Internet: https://www.mirabaud-am.com/en/funds-list/. De plus amples informations sur la durabilité sont accessibles via le lien suivant: https://www.mirabaud-am.com/en/responsibly-sustainable.
Les données relatives aux indices mentionnées dans le présent document sont la propriété d'ICE Data Indices, LLC, de ses Sociétés affiliées (« ICE Data ») et/ou de ses Fournisseurs tiers et sont utilisées avec l'autorisation de Mirabaud Asset Management (Suisse) SA. ICE Data et ses Fournisseurs tiers déclinent toute responsabilité à l'égard de leur utilisation. | fr | es |
DOLFIN3420 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Management of the Company
-
## General
The Company has appointed Allianz Global Investors GmbH to act as its management company within the meaning of the Law.
The Management Company is responsible, subject to the supervision of the Directors, for the provision of investment management services, administrative services and marketing services to the Company.
The Management Company is an investment management company within the meaning of the German Investment Code and was incorporated as a limited liability company (Gesellschaft mit beschränkter Haftung) under the laws of the Federal Republic of Germany in 1955. As at 31 December 2017, its subscribed and paid up capital amounted to EUR 49,900,900.00.
From time to time, the Management Company may carry on its activities through one or more of its branches located in jurisdictions across Europe.
The Management Company may delegate certain services in connection with currency and duration monitoring as well as trading to third parties.
At its own expense, the Management Company has delegated the preparation of risk figures, performance figures and Sub-Fund structural data to IDS GmbH – Analysis and Reporting Services, Munich, Germany, who may in turn be assisted by third parties.
Sales commissions and trail commissions may be paid to sales partners and, in compliance with Luxembourg law, reimbursements may be granted to investors from the All-in-Fee as well as the performance fee of the Management Company.
-
## Central Administration
The Company has appointed the Management Company acting through its Luxembourg Branch as its central administration agent. In this capacity, the Central Administration Agent is responsible for all administrative duties required by Luxembourg law. The responsibilities of the Central Administration Agent also include book-keeping, calculation of the Net Asset Value of the Shares, the processing of applications for subscription, redemption and conversion of Shares, accepting payments, the safekeeping of the register of Shareholders, and preparation and supervision of the mailing of financial statements, reports, notices and other documents to Shareholders.
The Management Company has outsourced to State Street Bank International GmbH, Luxembourg Branch substantial functions of central administration and other duties, such as fund accounting, NAV calculation as well as the function of the registrar and transfer agent. State Street Bank International GmbH, Luxembourg Branch may make use of the services of third parties.
-
## Portfolio Management
The Company has appointed the Management Company to carry out the investment management function.
The Management Company may, at its own expense, delegate all or any part of its investment management function to third parties (such as the Investment Managers) for the purpose of efficient management. The Management Company may also consult with third parties such as the Investment Advisors. The Management Company shall retain responsibility, control and coordination of the acts and omissions of any such delegates. Generally, currency hedging for Share Classes is not part of the investment management function.
The Investment Managers will manage the day-to-day business of the portfolio (under the supervision, control and responsibility of the Management Company) and provide other related services in accordance with the terms of this Prospectus, the Articles and the applicable laws.
The Investment Managers, if any, as well as the Sub-Funds for which the Management Company does not delegate investment management but performs this duty internally will be disclosed in Appendix 5. The investment management function may be temporarily carried out directly by the Management Company or any one of its branches under certain conditions (e.g. unavailability of the portfolio manager).
The role of an Investment Advisor is to provide advice, draw-up reports and make recommendations to the Investment Manager or to the Sub-Investment Manager as to the management of a Sub-Fund and advise the Investment Manager or the Sub-Investment Manager in the selection of assets for a portfolio. The Investment Advisor will, at all times, provide its services in accordance with the terms of this Prospectus, the Articles and the applicable laws.
Allianz Global Investors Fund
- | # Direction de la Société
-
## Généralités
La Société a désigné Allianz Global Investors GmbH en qualité de société de gestion au sens de la Loi.
La Société de gestion est responsable, sous la supervision des Administrateurs, de la fourniture de services de gestion des investissements, de services d’administration et de services de commercialisation à la Société.
La Société de gestion est une société de gestion d’investissements au sens du Code allemand des investissements et a été constituée en tant que société à responsabilité limitée (Gesellschaft mit beschränkter Haftung) régie par le droit de la République fédérale d’Allemagne en 1955. Au 31 décembre 2017, son capital souscrit et libéré s’élevait à 49 900 900,00 EUR.
La Société de gestion peut occasionnellement exercer ses activités par le biais d’une ou de plusieurs de ses succursales établies dans toute l’Europe.
La Société de gestion peut déléguer à des tiers certains services liés au contrôle des changes et de la duration ainsi qu’aux transactions.
La Société de gestion a délégué, à ses propres frais, la préparation des statistiques de risque ainsi que des données sur la performance et des données structurelles des Compartiments à IDS GmbH – Analysis and Reporting Services, Munich, Allemagne, qui est autorisée à se faire assister par des tiers.
Des commissions de vente et des rétrocessions peuvent être versées aux partenaires de vente et, conformément à la législation luxembourgeoise, des remboursements de la Commission forfaitaire ainsi que de la commission de performance de la Société de gestion peuvent être accordés aux investisseurs.
-
## Administration centrale
La Société a désigné la Société de gestion agissant par l’intermédiaire de sa succursale luxembourgeoise en tant qu’agent chargé de l’administration centrale. En cette qualité, l’Agent chargé de l’administration centrale est responsable de toutes les tâches administratives requises par la loi luxembourgeoise. Les responsabilités de l’Agent chargé de l’administration centrale comprennent également la tenue de la comptabilité, le calcul de la Valeur nette d’inventaire des Actions, le traitement des demandes de souscription, de rachat et de conversion d’Actions, l’acceptation de paiements, la conservation du registre des Actionnaires ainsi que la préparation et la supervision de l’expédition des états financiers, rapports, avis et autres documents aux Actionnaires.
La Société de gestion a délégué à State Street Bank International GmbH, succursale luxembourgeoise d’importantes fonctions d’administration centrale et d’autres tâches, comme la comptabilité du fonds, le calcul de la VNI et la fonction d’agent de registre et de transfert. State Street Bank International GmbH, succursale luxembourgeoise peut recourir aux services de tiers.
-
## Gestion de portefeuille
La Société a désigné la Société de gestion pour exercer la fonction de gestion des investissements.
La Société de gestion peut, à ses propres frais, déléguer tout ou partie de sa fonction de gestion des investissements à des tiers (comme les Gérants) à des fins de gestion efficace. La Société de gestion peut également consulter des tiers, comme les Conseillers en investissement. La Société de gestion conserve la responsabilité, le contrôle et la coordination des actes et omissions de ces délégués. De manière générale, la couverture du risque de change pour les Catégories d’Actions ne relève pas de la fonction de gestion des investissements.
Allianz Global Investors Fund
Les Gérants géreront l’activité quotidienne du portefeuille (sous la supervision, le contrôle et la responsabilité de la Société de gestion) et fourniront d’autres services connexes conformément aux dispositions du présent Prospectus, des Statuts et des lois applicables.
Les éventuels Gérants ainsi que les Compartiments pour lesquels la Société de gestion ne délègue pas la gestion des investissements et accomplit cette fonction en interne seront indiqués en Annexe 5. La fonction de gestion des investissements peut être temporairement assurée directement par la Société de gestion ou l’une de ses succursales sous certaines conditions (p. ex., indisponibilité du gestionnaire de portefeuille).
Le rôle d’un Conseiller en investissement est de fournir des conseils, de rédiger des rapports et d’émettre des recommandations au Gérant ou au Gérant délégué au sujet de la gestion d’un Compartiment et de conseiller le Gérant ou le Gérant délégué dans la sélection des actifs au titre d’un portefeuille. Le Conseiller en investissement fournira à tout moment ses services conformément aux dispositions du présent Prospectus, des Statuts et des lois applicables.
- | # Management of the Company
-
## General
The Company has appointed Allianz Global Investors GmbH to act as its management company within the meaning of the Law.
The Management Company is responsible, subject to the supervision of the Directors, for the provision of investment management services, administrative services and marketing services to the Company.
The Management Company is an investment management company within the meaning of the German Investment Code and was incorporated as a limited liability company (Gesellschaft mit beschränkter Haftung) under the laws of the Federal Republic of Germany in 1955. As at 31 December 2017, its subscribed and paid up capital amounted to EUR 49,900,900.00.
From time to time, the Management Company may carry on its activities through one or more of its branches located in jurisdictions across Europe.
The Management Company may delegate certain services in connection with currency and duration monitoring as well as trading to third parties.
At its own expense, the Management Company has delegated the preparation of risk figures, performance figures and Sub-Fund structural data to IDS GmbH – Analysis and Reporting Services, Munich, Germany, who may in turn be assisted by third parties.
Sales commissions and trail commissions may be paid to sales partners and, in compliance with Luxembourg law, reimbursements may be granted to investors from the All-in-Fee as well as the performance fee of the Management Company.
-
## Central Administration
The Company has appointed the Management Company acting through its Luxembourg Branch as its central administration agent. In this capacity, the Central Administration Agent is responsible for all administrative duties required by Luxembourg law. The responsibilities of the Central Administration Agent also include book-keeping, calculation of the Net Asset Value of the Shares, the processing of applications for subscription, redemption and conversion of Shares, accepting payments, the safekeeping of the register of Shareholders, and preparation and supervision of the mailing of financial statements, reports, notices and other documents to Shareholders.
The Management Company has outsourced to State Street Bank International GmbH, Luxembourg Branch substantial functions of central administration and other duties, such as fund accounting, NAV calculation as well as the function of the registrar and transfer agent. State Street Bank International GmbH, Luxembourg Branch may make use of the services of third parties.
-
## Portfolio Management
The Company has appointed the Management Company to carry out the investment management function.
The Management Company may, at its own expense, delegate all or any part of its investment management function to third parties (such as the Investment Managers) for the purpose of efficient management. The Management Company may also consult with third parties such as the Investment Advisors. The Management Company shall retain responsibility, control and coordination of the acts and omissions of any such delegates. Generally, currency hedging for Share Classes is not part of the investment management function.
The Investment Managers will manage the day-to-day business of the portfolio (under the supervision, control and responsibility of the Management Company) and provide other related services in accordance with the terms of this Prospectus, the Articles and the applicable laws.
The Investment Managers, if any, as well as the Sub-Funds for which the Management Company does not delegate investment management but performs this duty internally will be disclosed in Appendix 5. The investment management function may be temporarily carried out directly by the Management Company or any one of its branches under certain conditions (e.g. unavailability of the portfolio manager).
The role of an Investment Advisor is to provide advice, draw-up reports and make recommendations to the Investment Manager or to the Sub-Investment Manager as to the management of a Sub-Fund and advise the Investment Manager or the Sub-Investment Manager in the selection of assets for a portfolio. The Investment Advisor will, at all times, provide its services in accordance with the terms of this Prospectus, the Articles and the applicable laws.
Allianz Global Investors Fund
- | en | fr |
DOLFIN3421 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Objectif et politique d'investissement
| Objectif : | Le Fonds vise à réaliser un rendement total en concentrant ses efforts de manière à générer un revenu courant. |
| --- | --- |
| Politique d’investissement : | Le Fonds vise à réaliser son objectif en investissant, directement ou indirectement et principalement (au moins 65 % de ses actifs nets) dans des actions ordinaires négociées en Bourse qui versent un revenu, des actions préférentielles, des titres de capital et de créance convertibles de toute échéance, sans notation ou assortis d’une notation inférieure à la qualité investment grade, et dans d’autres instruments liés à des actions de sociétés situées dans la région Asie-Pacifique ou ayant des attaches substantielles avec cette région. À titre accessoire, le Fonds peut investir dans d’autres actifs autorisés, dans le monde entier. Dans le cadre de cette politique d'investissement, le terme région Asie-Pacifique englobe tous les pays et marchés d'Asie, ainsi que l'Australie et la Nouvelle-Zélande, incluant tous les pays et marchés développés, émergents et frontaliers en Asie. Le Fonds peut investir (directement ou indirectement) dans des Actions A chinoises, que ce soit directement via une licence d’Investisseur étranger qualifié (Qualified Foreign Investor (« QFI »)) octroyée à la Société ou via les programmes Shanghai- Hong Kong Stock Connect et/ou Shenzhen-Hong Kong Stock Connect, soit indirectement via l’investissement dans des produits d’accès. Le Fonds peut investir directement ou indirectement moins de 70 % de ses actifs nets totaux dans des Actions A et B chinoises. L’indice de référence du Fonds est le MSCI All Country Asia Pacific Index (USD) et il est indiqué uniquement à titre de comparaison des performances. Le Fonds est géré activement et ne vise pas à reproduire ou suivre l’indice de référence. Par conséquent, le Gestionnaire d’investissement, Matthews International Capital Management, LLC, peut sélectionner librement les titres dans lesquels il investit, et la composition et la performance du portefeuille du Fonds peuvent différer significativement de celle de l’indice de référence. |
| Politique de dividende : | Contrairement aux actions Accumulation, les produits générés par ces investissements ont vocation à être distribués trimestriellement et prélevés sur le revenu brut du Fonds. |
| Période de détention : | Le Fonds ne présente aucune durée de placement minimale, mais affiche en revanche un horizon d’investissement de long terme (généralement égal ou supérieur à 5 ans). Ce Fonds pourrait ne pas convenir aux investisseurs qui prévoient de retirer leur apport dans les 5 ans. |
| Transactions d'actions : Gestionnaire d’investissement : | Un investisseur peut acheter et vendre les parts du Fonds tout Jour ouvré au Luxembourg. Matthews International Capital Management, LLC |
Profil de risque et de rendement
| Risque plus faible | Risque plus élevé |
| --- | --- |
| Rendement potentiellement plus faible | Rendement potentiellement plus élevé |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Interprétation de l'Indicateur de Risque et de Rendement : L'Indicateur de Risque et de Rendement prend en compte les données historiques, lesquelles ne sont pas une indication fiable de l'avenir. La catégorie de risque a été calculée sur la base des données de performance passées correspondantes et peut ne pas être un indicateur fiable du profil de risque futur du Fonds. La catégorie de risque du Fonds ne constitue ni un objectif ni une garantie de stabilité dans le temps. Une catégorie de risque 1 n'est pas synonyme d'investissement sans risque.
Pourquoi ce Fonds est-il dans cette catégorie? Le Fonds est classé dans la catégorie de risque 6 car il investit essentiellement dans des titres de capital asiatiques. De nombreux marchés asiatiques sont considérés comme des marchés émergents et peuvent connaître d'importantes variations de valeur (« volatilité »). Les variations de valeur marquées peuvent entraîner d'importantes variations de la valeur nette d'inventaire du Fonds.
Existe-t-il d'autres risques particuliers que vous devriez prendre en considération? L'Indicateur de Risque et de Rendement ne constitue pas une indication du profil de risque global du Fonds, et n'intègre pas non plus tous les risques liés à l'investissement dans le Fonds. Les risques que vous devriez prendre en compte incluent : le risque de marché, le risque de taux d’intérêt, le risque de change, le risque de règlement, le risque de valorisation, le risque de crédit, le risque de contrepartie, le risque de liquidité, le risque de conformité, le risque de garde, le risque politique, le risque juridique, le risque opérationnel, le risque régional et de pays, le risque inhérent à l’investissement dans des Actions A chinoises ainsi que les risques associés aux plus petites entreprises et le risque lié au haut rendement. Les investissements dans des marchés financiers moins développés peuvent exposer le Fonds à un risque opérationnel, juridique et politique accru. Le Fonds vise à redistribuer la totalité des revenus enregistrés par cette catégorie. Cela peut avoir pour conséquence que les charges de la catégorie soient prélevées sur le capital. Le paiement des charges sur le capital s'apparente à une restitution ou à un retrait d'une partie du placement initial d'un investisseur, et limite son potentiel de génération de revenu. Pour davantage de précisions sur les risques, veuillez vous reporter à la section « Facteurs de risque » du Prospectus du Fonds, disponible sur global.matthewsasia.com/prospectus. | # Objetivo y política de inversión
| Objetivo: | El fondo busca la rentabilidad total enfatizando la obtención de ingresos regulares. |
| --- | --- |
| Política de inversión: | El Fondo trata de alcanzar su objetivo de inversión mediante la inversión directa o indirecta de la mayor parte (es decir, al menos el 65%) de su patrimonio neto en acciones ordinarias cotizadas que reparten dividendos, acciones preferentes, deuda convertible y títulos de renta variable con cualquier vencimiento así como en títulos sin calificación (o que estarían por debajo de la calificación de inversión si contasen con una calificación) y otros instrumentos relacionados con la renta variable de sociedades situadas o que mantienen importantes vínculos en la región Asia-Pacífico. De forma accesoria, el fondo podrá invertir en otros activos permitidos de todo el mundo. A efectos de esta política, la región de Asia-Pacífico está formada por todos los países y mercados de Asia, así como Australia y Nueva Zelanda, incluidos todos los países y mercados desarrollados, emergentes y fronterizos de dicha región. El fondo puede invertir (directa o indirectamente) en Acciones A de China, bien directamente mediante el uso de una licencia de Inversor extranjero cualificado ("QFI", por sus siglas en inglés) otorgada a la Sociedad o a través de los programas Shanghai-Hong Kong Stock Connect y/o Shenzhen-Hong Kong Stock Connect, bien indirectamente invirtiendo en productos de acceso. El Fondo puede invertir directa o indirectamente menos del 70% de su patrimonio neto total en Acciones A y B de China. El índice de referencia del Fondo es el MSCI All Country Asia Pacific Index (USD) y se indica únicamente a efectos comparativos de la rentabilidad. El Fondo se gestiona de forma activa y no trata de replicar o seguir al índice de referencia. Por consiguiente, el Gestor de inversiones, Matthews International Capital Management, LLC, puede seleccionar libremente los valores en los que invierte y es posible que la composición de la cartera del Fondo y su rentabilidad difieran significativamente de las del índice de referencia. |
| Política de dividendos: | A diferencia de lo que sucede con las acciones de capitalización del fondo, se prevé repartir con periodicidad trimestral los ingresos generados por cualquiera de las inversiones con cargo a los ingresos brutos del fondo. |
| Plazo de tenencia: | El fondo no tiene un plazo mínimo de tenencia, pero cuenta con un horizonte de inversión a largo plazo (normalmente, de 5 años o más). Este fondo puede no ser adecuado para inversores que prevean retirar su dinero en un plazo de 5 años. |
| Transacciones de acciones: Gestor de inversiones: | Un inversor puede comprar y vender acciones del fondo cualquier día hábil en Luxemburgo. Matthews International Capital Management, LLC |
Perfil de riesgo y remuneración
| Menor riesgo | Mayor riesgo |
| --- | --- |
| Remuneración normalmente menor | Remuneración normalmente mayor |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Interpretación del indicador de riesgo y remuneración: El indicador de riesgo y remuneración toma en cuenta datos históricos que no constituyen una indicación fiable de los resultados futuros. La categoría de riesgo se calculó utilizando los correspondientes datos de rentabilidad histórica, que puede no constituir una indicación fiable del futuro perfil de riesgo de los fondos. La categoría de riesgo del fondo no constituye un objetivo ni se garantiza su estabilidad en el tiempo. La categoría de riesgo 1 no significa que la inversión esté exenta de riesgos.
¿Por qué está este fondo en esta categoría? El fondo se encuentra en la categoría de riesgo 6 debido a que invierte principalmente en valores de renta variable asiáticos. Muchos mercados asiáticos son considerados mercados emergentes y pueden experimentar fuertes cambios en su valoración («volatilidad»). En general, los cambios pronunciados en la valoración generan cambios similares en el valor de inventario neto del fondo.
¿Existen otros riesgos concretos que debería considerar? El indicador de riesgo y remuneración no proporciona un perfil general de riesgo del fondo, ni refleja plenamente todos los riesgos que comporta invertir en él. Entre los riesgos que debe considerar se incluyen: riesgo de mercado, riesgo de tipo de interés, riesgo cambiario, riesgo de liquidación, riesgo de valoración, riesgo de crédito, riesgo de contraparte, riesgo de liquidez, riesgo de cumplimiento, riesgo de custodia, riesgo político, riesgo jurídico, riesgo operativo, riesgo regional y nacional, riesgo de invertir en acciones A de China, riesgos relacionados con la inversión en pequeñas empresas y riesgo de invertir en títulos de alto rendimiento. Las inversiones en mercados financieros menos desarrollados pueden exponer al Fondo a un mayor riesgo operativo, jurídico y político. El fondo pretende abonar todos los ingresos obtenidos por esta clase. Como consecuencia de esto puede que los gastos de esta clase se abonen con cargo al capital. El pago de los gastos con cargo al capital equivale a una devolución o a una retirada de parte de la inversión original de un inversor y limita su potencial de generación de ingresos. Si desea más información sobre los riesgos, consulte la sección «Consideraciones sobre riesgos» del folleto del fondo que está disponible en global.matthewsasia.com/prospectus. | # Objectif et politique d'investissement
| Objectif : | Le Fonds vise à réaliser un rendement total en concentrant ses efforts de manière à générer un revenu courant. |
| --- | --- |
| Politique d’investissement : | Le Fonds vise à réaliser son objectif en investissant, directement ou indirectement et principalement (au moins 65 % de ses actifs nets) dans des actions ordinaires négociées en Bourse qui versent un revenu, des actions préférentielles, des titres de capital et de créance convertibles de toute échéance, sans notation ou assortis d’une notation inférieure à la qualité investment grade, et dans d’autres instruments liés à des actions de sociétés situées dans la région Asie-Pacifique ou ayant des attaches substantielles avec cette région. À titre accessoire, le Fonds peut investir dans d’autres actifs autorisés, dans le monde entier. Dans le cadre de cette politique d'investissement, le terme région Asie-Pacifique englobe tous les pays et marchés d'Asie, ainsi que l'Australie et la Nouvelle-Zélande, incluant tous les pays et marchés développés, émergents et frontaliers en Asie. Le Fonds peut investir (directement ou indirectement) dans des Actions A chinoises, que ce soit directement via une licence d’Investisseur étranger qualifié (Qualified Foreign Investor (« QFI »)) octroyée à la Société ou via les programmes Shanghai- Hong Kong Stock Connect et/ou Shenzhen-Hong Kong Stock Connect, soit indirectement via l’investissement dans des produits d’accès. Le Fonds peut investir directement ou indirectement moins de 70 % de ses actifs nets totaux dans des Actions A et B chinoises. L’indice de référence du Fonds est le MSCI All Country Asia Pacific Index (USD) et il est indiqué uniquement à titre de comparaison des performances. Le Fonds est géré activement et ne vise pas à reproduire ou suivre l’indice de référence. Par conséquent, le Gestionnaire d’investissement, Matthews International Capital Management, LLC, peut sélectionner librement les titres dans lesquels il investit, et la composition et la performance du portefeuille du Fonds peuvent différer significativement de celle de l’indice de référence. |
| Politique de dividende : | Contrairement aux actions Accumulation, les produits générés par ces investissements ont vocation à être distribués trimestriellement et prélevés sur le revenu brut du Fonds. |
| Période de détention : | Le Fonds ne présente aucune durée de placement minimale, mais affiche en revanche un horizon d’investissement de long terme (généralement égal ou supérieur à 5 ans). Ce Fonds pourrait ne pas convenir aux investisseurs qui prévoient de retirer leur apport dans les 5 ans. |
| Transactions d'actions : Gestionnaire d’investissement : | Un investisseur peut acheter et vendre les parts du Fonds tout Jour ouvré au Luxembourg. Matthews International Capital Management, LLC |
Profil de risque et de rendement
| Risque plus faible | Risque plus élevé |
| --- | --- |
| Rendement potentiellement plus faible | Rendement potentiellement plus élevé |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Interprétation de l'Indicateur de Risque et de Rendement : L'Indicateur de Risque et de Rendement prend en compte les données historiques, lesquelles ne sont pas une indication fiable de l'avenir. La catégorie de risque a été calculée sur la base des données de performance passées correspondantes et peut ne pas être un indicateur fiable du profil de risque futur du Fonds. La catégorie de risque du Fonds ne constitue ni un objectif ni une garantie de stabilité dans le temps. Une catégorie de risque 1 n'est pas synonyme d'investissement sans risque.
Pourquoi ce Fonds est-il dans cette catégorie? Le Fonds est classé dans la catégorie de risque 6 car il investit essentiellement dans des titres de capital asiatiques. De nombreux marchés asiatiques sont considérés comme des marchés émergents et peuvent connaître d'importantes variations de valeur (« volatilité »). Les variations de valeur marquées peuvent entraîner d'importantes variations de la valeur nette d'inventaire du Fonds.
Existe-t-il d'autres risques particuliers que vous devriez prendre en considération? L'Indicateur de Risque et de Rendement ne constitue pas une indication du profil de risque global du Fonds, et n'intègre pas non plus tous les risques liés à l'investissement dans le Fonds. Les risques que vous devriez prendre en compte incluent : le risque de marché, le risque de taux d’intérêt, le risque de change, le risque de règlement, le risque de valorisation, le risque de crédit, le risque de contrepartie, le risque de liquidité, le risque de conformité, le risque de garde, le risque politique, le risque juridique, le risque opérationnel, le risque régional et de pays, le risque inhérent à l’investissement dans des Actions A chinoises ainsi que les risques associés aux plus petites entreprises et le risque lié au haut rendement. Les investissements dans des marchés financiers moins développés peuvent exposer le Fonds à un risque opérationnel, juridique et politique accru. Le Fonds vise à redistribuer la totalité des revenus enregistrés par cette catégorie. Cela peut avoir pour conséquence que les charges de la catégorie soient prélevées sur le capital. Le paiement des charges sur le capital s'apparente à une restitution ou à un retrait d'une partie du placement initial d'un investisseur, et limite son potentiel de génération de revenu. Pour davantage de précisions sur les risques, veuillez vous reporter à la section « Facteurs de risque » du Prospectus du Fonds, disponible sur global.matthewsasia.com/prospectus. | fr | es |
DOLFIN3422 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
- Lors d’une OPE (paiement en titres), les gestionnaires de portefeuille vont acheter le titre de la cible et prendre une position short sur l’instrument de l’acheteur potentiel de la cible.
- Si l’OPE va à son terme, ils recevront, en échange des titres de la cible, des titres de l’acheteur qui viendront annuler la position vendeuse.
- Si l’OPE échoue, le cours de la cible baissera, le cours de l’acheteur reste généralement à peu près stable. | - En caso de una OPC (pago en títulos), los gestores de carteras comprarán el título de la empresa objetivo y tomarán una posición corta en el instrumento del comprador potencial de la empresa objetivo.
- Si la OPC se materializa, recibirán, a cambio de los títulos de la empresa objetivo, títulos del comprador que anularán la posición vendedora.
- Si la OPC no se lleva a cabo, la cotización de la empresa objetivo bajará; por regla general, la cotización del comprador se mantiene más o menos estable. | - Lors d’une OPE (paiement en titres), les gestionnaires de portefeuille vont acheter le titre de la cible et prendre une position short sur l’instrument de l’acheteur potentiel de la cible.
- Si l’OPE va à son terme, ils recevront, en échange des titres de la cible, des titres de l’acheteur qui viendront annuler la position vendeuse.
- Si l’OPE échoue, le cours de la cible baissera, le cours de l’acheteur reste généralement à peu près stable. | fr | es |
DOLFIN3423 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Art. 7 Rights of the Shareholders' Meeting
The supreme governing body of the Investment Company is the Shareholders' Meeting. It has the following powers:
- electing the Board of Directors and the Auditors;
- approving the income statement, the balance sheet and the annual report;
- passing resolutions pertaining to the use of the net profit, in particular the setting of the dividends;
- the discharge of the Board of Directors;
- passing resolutions regarding the acceptance of the Articles as well as with respect to the dissolution or merger of the Investment Company;
- passing resolutions regarding the amendment of the Articles, whereby a simple majority shall suffice (however, the prior approval of the FMA shall be required);
- passing resolutions on all matters that are reserved for the Shareholders’ Meeting by law or the Articles, or which are presented to it by the Board of Directors. | # Art. 7 Rechte der Generalversammlung
Oberstes Organ der Investmentgesellschaft ist die Generalversammlung. Ihr stehen folgende Befugnisse zu:
- die Wahl des Verwaltungsrates und des Wirtschaftsprüfers;
- Abnahme der Erfolgsrechnung, der Bilanz und des Geschäftsberichts;
- Beschlussfassung über die Verwendung des Reingewinns, insbesondere die Festsetzung der Dividenden;
- die Entlastung des Verwaltungsrates;
- die Beschlussfassung über die Annahme der Satzung sowie über die Auflösung oder Fusion der Investmentgesell- schaft;
- die Beschlussfassung über die Änderung der Satzung, wobei die einfache Mehrheit genügt (es bedarf allerdings der vorherigen Genehmigung durch die FMA)
- die Beschlussfassung über die Gegenstände, die der Generalversammlung durch Gesetz oder die Satzung vorbe- halten sind oder ihr vom Verwaltungsrat vorgelegt werden. | # Art. 7 Rights of the Shareholders' Meeting
The supreme governing body of the Investment Company is the Shareholders' Meeting. It has the following powers:
- electing the Board of Directors and the Auditors;
- approving the income statement, the balance sheet and the annual report;
- passing resolutions pertaining to the use of the net profit, in particular the setting of the dividends;
- the discharge of the Board of Directors;
- passing resolutions regarding the acceptance of the Articles as well as with respect to the dissolution or merger of the Investment Company;
- passing resolutions regarding the amendment of the Articles, whereby a simple majority shall suffice (however, the prior approval of the FMA shall be required);
- passing resolutions on all matters that are reserved for the Shareholders’ Meeting by law or the Articles, or which are presented to it by the Board of Directors. | en | de |
DOLFIN3424 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# Neuberger Berman US Equity Fund (Continued)
## Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares
| | Six Months Ended | Six Months Ended |
| --- | --- | --- |
| 30 June 2021 | 30 June 2020 |
| US$ | US$ |
| Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of period | 6,530,490 | 5,335,428 |
| Profit/(Loss) Attributable to Holders of Redeemable Participating Shares from Operations | 783,155 | 109,328 |
| Subscriptions | 1,033,527 | 300,000 |
| Redemptions | (551,506) | (1,325,129) |
| Net Assets Attributable to Holders of Redeemable Participating Shares at end of period | 7,795,666 | 4,419,627 |
The accompanying notes form an integral part of the financial statements.
INTERIM REPORT 2021 433
FINANCIAL STATEMENTS SCHEDULE OF INVESTMENTS | # Neuberger Berman US Equity Fund (continua)
## Prospetto delle variazioni del patrimonio netto attribuibile ai detentori di azioni di partecipazione riscattabili
| | Semestre chiuso al | Semestre chiuso al |
| --- | --- | --- |
| 30 giugno 2021 | 30 giugno 2020 |
| USD | USD |
| Patrimonio netto attribuibile ai detentori di azioni di partecipazione riscattabili all’inizio del periodo | 6.530.490 | 5.335.428 |
| Profitti/(perdite) attribuibili ai detentori di azioni di partecipazione riscattabili da operazioni | 783.155 | 109.328 |
| Sottoscrizioni | 1.033.527 | 300.000 |
| Rimborsi | (551.506) | (1.325.129) |
| Patrimonio netto attribuibile ai detentori di azioni di partecipazione riscattabili alla fine del periodo | 7.795.666 | 4.419.627 |
Le note integrative costituiscono parte integrante del bilancio.
RELAZIONE SEMESTRALE 2021 433
BILANCIO PROSPETTO DEGLI INVESTIMENTI | # Neuberger Berman US Equity Fund (Continued)
## Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares
| | Six Months Ended | Six Months Ended |
| --- | --- | --- |
| 30 June 2021 | 30 June 2020 |
| US$ | US$ |
| Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of period | 6,530,490 | 5,335,428 |
| Profit/(Loss) Attributable to Holders of Redeemable Participating Shares from Operations | 783,155 | 109,328 |
| Subscriptions | 1,033,527 | 300,000 |
| Redemptions | (551,506) | (1,325,129) |
| Net Assets Attributable to Holders of Redeemable Participating Shares at end of period | 7,795,666 | 4,419,627 |
The accompanying notes form an integral part of the financial statements.
INTERIM REPORT 2021 433
FINANCIAL STATEMENTS SCHEDULE OF INVESTMENTS | en | it |
DOLFIN3425 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| If you exit after: | 1 year | 5 years¹ |
| --- | --- | --- |
| Total costs (EUR) | 227 | 1,330 |
| Annual cost impact (%)² | 2.3% | 2.3% | | | En caso de salida después de: | 1 año | 5 años¹ |
| --- | --- | --- |
| Costes totales (EUR) | 227 | 1.330 |
| Incidencia anual de los costes (%)² | 2,3% | 2,3% | | | If you exit after: | 1 year | 5 years¹ |
| --- | --- | --- |
| Total costs (EUR) | 227 | 1,330 |
| Annual cost impact (%)² | 2.3% | 2.3% | | en | es |
DOLFIN3426 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
| Gross Performance Mi | llennium Global Opportunities P | Performance Data Millennium Global Opportunities P |
| --- | --- | --- |
| Period | Performance cumulated | Performance annualised | Volatility | VaR (95%) | Sharpe Ratio | | Period | gross performance | net performance |
| Previous day | -0.08 % | | | | | | 8/30/2021 - 8/30/2022 | -12.80 % | -12.80 % |
| 1 Month | 1.50 % | | 5.64 % | 5.76 % | 3.27 | | 8/28/2020 - 8/30/2021 | 16.86 % | 16.86 % |
| 3 Months | -4.78 % | | 8.96 % | | -2.07 | | 8/30/2019 - 8/28/2020 | 6.55 % | 6.55 % |
| 6 Months | -7.35 % | | 9.80 % | | -1.48 | | 8/30/2018 - 8/30/2019 | -5.22 % | -5.22 % |
| Year to Date | -13.98 % | | 10.49 % | | -1.96 | | 8/30/2017 - 8/30/2018 | 5.52 % | 2.45 % |
| 1 Year | -12.80 % | | 9.63 % | | -1.39 | |
| 3 Years | 8.57 % | 2.78 % | 12.46 % | | 0.18 |
| 5 Years | 8.59 % | 1.66 % | 11.25 % | | 0.10 |
| 10 Years | 48.17 % | 4.01 % | 10.20 % | | 0.34 |
| since first price calculation | 163.39 % | 5.18 % | 10.16 % | | 0.46 | | | Brutto-Performance | Millennium Global Opportunities P | Performancedaten Millennium Global Opportunities P |
| --- | --- | --- |
| Periode | Performance kumuliert | Performance annualisiert | Volatilität | VaR (95%) | Sharpe Ratio | | Periode | Bruttoperformance | Nettoperformance |
| Vortag | -0,08 % | | | | | | 30.08.2021 - 30.08.2022 | -12,80 % | -12,80 % |
| 1 Monat | 1,50 % | | 5,64 % | 5,76 % | 3,27 | | 28.08.2020 - 30.08.2021 | 16,86 % | 16,86 % |
| 3 Monate | -4,78 % | | 8,96 % | | -2,07 | | 30.08.2019 - 28.08.2020 | 6,55 % | 6,55 % |
| 6 Monate | -7,35 % | | 9,80 % | | -1,48 | | 30.08.2018 - 30.08.2019 | -5,22 % | -5,22 % |
| laufendes Kalenderjahr | -13,98 % | | 10,49 % | | -1,96 | | 30.08.2017 - 30.08.2018 | 5,52 % | 2,45 % |
| 1 Jahr | -12,80 % | | 9,63 % | | -1,39 | |
| 3 Jahre | 8,57 % | 2,78 % | 12,46 % | | 0,18 |
| 5 Jahre | 8,59 % | 1,66 % | 11,25 % | | 0,10 |
| 10 Jahre | 48,17 % | 4,01 % | 10,20 % | | 0,34 |
| seit Erstpreisberechnung | 163,39 % | 5,18 % | 10,16 % | | 0,46 | | | Gross Performance Mi | llennium Global Opportunities P | Performance Data Millennium Global Opportunities P |
| --- | --- | --- |
| Period | Performance cumulated | Performance annualised | Volatility | VaR (95%) | Sharpe Ratio | | Period | gross performance | net performance |
| Previous day | -0.08 % | | | | | | 8/30/2021 - 8/30/2022 | -12.80 % | -12.80 % |
| 1 Month | 1.50 % | | 5.64 % | 5.76 % | 3.27 | | 8/28/2020 - 8/30/2021 | 16.86 % | 16.86 % |
| 3 Months | -4.78 % | | 8.96 % | | -2.07 | | 8/30/2019 - 8/28/2020 | 6.55 % | 6.55 % |
| 6 Months | -7.35 % | | 9.80 % | | -1.48 | | 8/30/2018 - 8/30/2019 | -5.22 % | -5.22 % |
| Year to Date | -13.98 % | | 10.49 % | | -1.96 | | 8/30/2017 - 8/30/2018 | 5.52 % | 2.45 % |
| 1 Year | -12.80 % | | 9.63 % | | -1.39 | |
| 3 Years | 8.57 % | 2.78 % | 12.46 % | | 0.18 |
| 5 Years | 8.59 % | 1.66 % | 11.25 % | | 0.10 |
| 10 Years | 48.17 % | 4.01 % | 10.20 % | | 0.34 |
| since first price calculation | 163.39 % | 5.18 % | 10.16 % | | 0.46 | | en | de |
DOLFIN3427 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
## In addition, certain other charges, fees and costs are settled from the as- sets of the UCITS. See Items 11 and 12 regarding this (Tax provisions as well as costs and fees).
-
## Calculation of net asset value per share | ## Zusätzlich werden bestimmte andere Gebühren, Vergütungen und Kosten aus den Vermögenswerten des OGAW beglichen. Siehe dazu Ziffer 11 und 12 (Steuervorschriften sowie Kosten und Gebühren).
-
## Berechnung des Nettoinventarwertes pro Anteil | ## In addition, certain other charges, fees and costs are settled from the as- sets of the UCITS. See Items 11 and 12 regarding this (Tax provisions as well as costs and fees).
-
## Calculation of net asset value per share | en | de |
DOLFIN3428 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# The Articles contain provisions to the following effect:
- Directors' Authority to Allot Shares. The Directors are generally and unconditionally authorised to exercise all powers of the Company to allot relevant securities, including fractions thereof, up to an amount equal to the authorised but as yet unissued share capital of the Company.
- Variation of rights. The rights attached to any class may be varied or abrogated with the consent in writing of the holders of three-fourths in number of the issued Shares of that class, or with the sanction of a special resolution passed at a separate general meeting of the holders of the shares of the class, and may be so varied or abrogated either whilst the Company is a going concern or during or in contemplation of a winding-up. The quorum at any such separate general meeting, other than an adjourned meeting, shall be two persons holding or representing by proxy at least one third of the issued shares of the class in question and the quorum at an adjourned meeting shall be one person holding Shares of the class in question or his/her proxy.
- Voting Rights. Subject to disenfranchisement in the event of non-compliance with any notice requiring disclosure of the beneficial ownership of Shares and subject to any rights or restrictions for the time being attached to any class or classes of Shares, on a show of hands at a general meeting or class meeting of the Company, every Shareholder holding shares who is present in person or by proxy shall have one vote and on a poll every Shareholder present in person or by proxy shall have one vote for every Share of which s/he is the holder.
- Change in Share Capital. The Company may, from time to time, by ordinary resolution increase the share capital by such amount and/or number as the resolution may prescribe. The Company may also by ordinary resolution, consolidate and divide its share capital into Shares of larger amount, subdivide its Shares into Shares of smaller amounts or value or cancel any Shares which, at the date of the passing of the resolution, have not been taken or agreed to be taken by any person and reduce the amount of its authorised share capital by the amount of the Shares so cancelled or redenominate the currency of any class of Shares.
- Directors' Interests. Provided that the nature and extent of his/her interest shall be disclosed as set out below, no Director or intending Director shall be disqualified by his/her office from contracting with the Company nor shall any such contract or arrangement entered into by or on behalf of any other company in which any Director shall be in any way interested be avoided nor shall any Director so contracting or being so interested be liable to account to the Company for any profit realised by any such contract or arrangement by reason of such Director holding that office or of the fiduciary relationship thereby established. | # Los Estatutos contienen disposiciones a los siguientes efectos:
- Facultad de los Consejeros para adjudicar Acciones. Los Consejeros estarán general e incondicionalmente autorizados para ejercer todas las facultades de la Sociedad relacionadas con la adjudicación de cualesquiera valores pertinentes, incluso fracciones de los mismos, hasta una cantidad máxima equivalente al capital social autorizado de la Sociedad pendiente de emitir.
- Modificación de derechos. Los derechos inherentes a cualquier clase podrán modificarse o revocarse con el consentimiento por escrito de los titulares de las tres cuartas partes de las Acciones en circulación de dicha clase, o mediante acuerdo extraordinario aprobado en junta general independiente de los titulares de las Acciones de la clase en cuestión, pudiendo ser modificados o revocados tanto si la Sociedad funciona normalmente, como durante o cuando se prevea su disolución. El cuórum exigido en dichas juntas generales independientes, salvo que sean juntas aplazadas, será de dos personas que posean o representen mediante apoderamiento al menos un tercio de las acciones en circulación de la clase en cuestión y, en el caso de las juntas aplazadas, de una persona que posea Acciones de la clase pertinente o de su apoderado.
- Derechos de voto. Sin perjuicio de la privación del derecho de voto en caso de incumplimiento de cualquier aportación de información requerida en la convocatoria por parte del beneficiario efectivo de las Acciones, así como de los derechos o restricciones que en cada momento lleve aparejada cualquier clase o clases de Acciones, en una votación a mano alzada en una junta general o junta de cada clase de la Sociedad, cada Accionista, presente o representado tendrá derecho a un voto, y en una votación secreta cada Accionista presente o representado tendrá un voto por cada Acción de la que sea titular.
- Modificación del capital social. La Sociedad podrá, en cualquier momento, mediante acuerdo ordinario, proceder a una ampliación de capital por el importe y/o número de acciones que determine el mencionado acuerdo. La Sociedad también podrá, mediante acuerdo ordinario, agrupar y dividir su capital social en Acciones de un importe superior, subdividir sus Acciones en acciones de un importe o valor inferior o cancelar cualesquiera Acciones que, en la fecha del acuerdo, no hayan sido adquiridas, ni se haya acordado su adquisición, y reducir el valor de su capital social autorizado en la cuantía de las Acciones así canceladas o modificar la moneda de denominación de cualquier Clase de Acciones.
- Intereses de los Consejeros. Siempre que se haya comunicado la índole y alcance de su interés en la forma expuesta más adelante, ningún Consejero ni Consejero propuesto quedará inhabilitado, por razón de su cargo, para contratar con la Sociedad, ni dichos contratos o acuerdos celebrados por o en nombre de cualquier otra sociedad en la que un Consejero esté de cualquier modo interesado, podrán ser anulados, ni un Consejero que así contrate o tenga el referido interés deberá rendir cuentas a la Sociedad de cualesquiera beneficios que obtenga como consecuencia de dichos contratos o acuerdos, a causa de ostentar dicho cargo o por la relación fiduciaria que se establece en virtud del mismo. | # The Articles contain provisions to the following effect:
- Directors' Authority to Allot Shares. The Directors are generally and unconditionally authorised to exercise all powers of the Company to allot relevant securities, including fractions thereof, up to an amount equal to the authorised but as yet unissued share capital of the Company.
- Variation of rights. The rights attached to any class may be varied or abrogated with the consent in writing of the holders of three-fourths in number of the issued Shares of that class, or with the sanction of a special resolution passed at a separate general meeting of the holders of the shares of the class, and may be so varied or abrogated either whilst the Company is a going concern or during or in contemplation of a winding-up. The quorum at any such separate general meeting, other than an adjourned meeting, shall be two persons holding or representing by proxy at least one third of the issued shares of the class in question and the quorum at an adjourned meeting shall be one person holding Shares of the class in question or his/her proxy.
- Voting Rights. Subject to disenfranchisement in the event of non-compliance with any notice requiring disclosure of the beneficial ownership of Shares and subject to any rights or restrictions for the time being attached to any class or classes of Shares, on a show of hands at a general meeting or class meeting of the Company, every Shareholder holding shares who is present in person or by proxy shall have one vote and on a poll every Shareholder present in person or by proxy shall have one vote for every Share of which s/he is the holder.
- Change in Share Capital. The Company may, from time to time, by ordinary resolution increase the share capital by such amount and/or number as the resolution may prescribe. The Company may also by ordinary resolution, consolidate and divide its share capital into Shares of larger amount, subdivide its Shares into Shares of smaller amounts or value or cancel any Shares which, at the date of the passing of the resolution, have not been taken or agreed to be taken by any person and reduce the amount of its authorised share capital by the amount of the Shares so cancelled or redenominate the currency of any class of Shares.
- Directors' Interests. Provided that the nature and extent of his/her interest shall be disclosed as set out below, no Director or intending Director shall be disqualified by his/her office from contracting with the Company nor shall any such contract or arrangement entered into by or on behalf of any other company in which any Director shall be in any way interested be avoided nor shall any Director so contracting or being so interested be liable to account to the Company for any profit realised by any such contract or arrangement by reason of such Director holding that office or of the fiduciary relationship thereby established. | en | es |
DOLFIN3429 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
Please note that past performance is no guarantee of future performance.
The illustration shows annual performance, calculated as a percentage of the fund's net assets in the fund currency. In calculating previous performance, all costs and fees have been deducted, with the exception of the subscription and redemption fees.
The sub-fund was launched on April 28, 2017. This share class was launched on November 30, 2018. The base currency of the sub- fund is USD. Past performance has been calculated in USD. | Bitte beachten Sie, dass die Wertentwicklung in der Vergangenheit keine Garantie für zukünftige Entwicklungen darstellt.
Die Darstellung zeigt die jährliche Wertentwicklung berechnet in Prozenten des Nettovermögens des Fonds in dessen Fondswährung. Bei der Berechnung der früheren Wertentwicklung wurden sämtliche Kosten und Gebühren mit Ausnahme der Verkaufs- und Rücknahmegebühr abgezogen.
Der Teilfonds wurde am 28. April 2017 aufgelegt. Diese Anteilsklasse wurde am 30. November 2018 aufgelegt. Die Basiswährung des Teilfonds ist USD. Die frühere Wertentwicklung wurde in USD berechnet. | Please note that past performance is no guarantee of future performance.
The illustration shows annual performance, calculated as a percentage of the fund's net assets in the fund currency. In calculating previous performance, all costs and fees have been deducted, with the exception of the subscription and redemption fees.
The sub-fund was launched on April 28, 2017. This share class was launched on November 30, 2018. The base currency of the sub- fund is USD. Past performance has been calculated in USD. | en | de |
DOLFIN3430 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Objectives and Investment Policy
The Fund aims to offer returns in line with money market rates consistent with preservation of capital and liquidity. Money invested in the Fund is not protected or guaranteed. The Fund does not rely on external support for guaranteeing the liquidity of the Fund or stabilising the net asset value (NAV) per share. The Fund is a short- term money market fund.
The Fund invests at least 90% of its total assets in fixed income (FI) securities denominated in US dollars. These include bonds and money market instruments (i.e. debt securities with short term maturities).
The FI securities may be issued by the United States (US) government and its agencies, non-US governments and government agencies, and companies and supranationals (e.g. the International Bank for Reconstruction and Development) domiciled inside or outside of the US.
The FI securities may be investment grade (i.e. meet a specified level of credit worthiness), non-investment grade or unrated at the time of purchase.
The Fund will limit its investment to assets which have 397 days or less remaining until the full principal must be repaid. The weighted average maturity (i.e. the average length of time to the date when the principal of the asset is to be repaid in full (or, in respect of interest rate notes, the average length of time to the next interest rate reset to a money market rate) of all of the Fund’s assets will be up to 60 days. The weighted average life (i.e. the average length of time to the date when the principal of the assets is to be repaid in full) of all of the Fund’s assets will be up to 120 days. To calculate these averages, figures are adjusted to reflect the relative holdings of each of the Fund’s assets.
The Fund may invest up to 15% of its total assets in securitisations and asset backed commercial paper that are sufficiently liquid.
The Fund may also enter into reverse repurchase agreements on a short term basis. Through these, the Fund agrees to purchase government securities from certain eligible third parties for cash and that the seller can buy these back at an agreed time and price.
The investment adviser (IA) may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) for investment purposes in order to achieve the investment objective of the Fund, and/or to reduce interest rate or currency exchange rate risk within the Fund’s portfolio. The Fund may, via FDIs, generate varying amounts of market leverage (i.e. where the Fund gains market exposure in excess of the value of its assets).
The Fund is actively managed, and the IA has discretion to select the Fund's investments without reference to any benchmark. The Secured Overnight Financing Rate (SOFR) Index should be used by investors to compare the performance of the Fund.
The Fund is a “Short Term Variable NAV Money Market Fund” as defined by the EU Money Markets Funds Regulation.
The investments of the Fund are valued using the mark-to-market method where possible, and if not, the mark-to-model method is used. The NAV is calculated to four decimal places and forms the dealing NAV.
Recommendation: This Fund may not be appropriate for investors who seek long-term growth. Your shares will be non-distributing (i.e. dividend income will be included in their value).
The Fund’s base currency is US Dollar. Shares for this class are bought and sold in Sterling. The performance of your shares may be affected by this currency difference.
Your shares will be “hedged” with the aim of reducing the effect of exchange rate fluctuations between their denominated currency and the base currency of the Fund. The hedging strategy may not completely eliminate currency risk and, therefore, may affect the performance of your shares.
You can buy and sell your shares daily. The minimum initial investment for this share class is US$100,000 or other currency equivalent.
For more information on the Fund, share/unit classes, risks and charges, please see the Fund's prospectus, available on the product pages at www.blackrock.com | # Objetivos y política de inversión
El objetivo del Fondo es ofrecer una rentabilidad acorde con los tipos del mercado monetario al mismo tiempo que se mantiene el capital y la liquidez. El dinero invertido en el Fondo no está protegido ni garantizado. El Fondo no cuenta con ningún respaldo externo para garantizar su liquidez ni para estabilizar el valor liquidativo (NAV) por acción. El Fondo es un fondo de mercado monetario a corto plazo.
El Fondo invierte al menos el 90 % de sus activos totales en valores de renta fija (RF) denominados en dólares estadounidenses. Entre estos están los bonos y los instrumentos del mercado monetario (es decir, títulos de deuda con vencimientos a corto plazo).
Los valores de RF podrán ser emitidos por el gobierno de los Estados Unidos, por sus agencias, por gobiernos y agencias gubernamentales no estadounidenses, y por empresas y organismos supranacionales (como el Banco Internacional de Reconstrucción y Fomento) domiciliados dentro o fuera de los Estados Unidos.
Los valores de RF pueden tener grado de inversión (es decir, cumplir un nivel específico de solvencia), una calificación inferior al grado de inversión o carecer de calificación en el momento de su adquisición.
El Fondo limitará su inversión a los activos que cuenten con un periodo de tiempo igual o inferior a 397 días hasta que deba pagarse la totalidad del capital. El vencimiento medio ponderado (es decir, el período de tiempo medio hasta la fecha en que deba pagarse la totalidad del capital (o, con respecto a las notas de tipo de interés, el tiempo medio hasta la próxima revisión del tipo de interés según un tipo del mercado monetario) de todos los activos del Fondo será de hasta 60 días. La vida media ponderada (es decir, el período de tiempo medio hasta la fecha en que deba pagarse la totalidad del capital de los activos) de todos los activos del Fondo será de hasta 120 días. A efectos de cálculo de estas medias, las cifras se ajustan para reflejar las posiciones relativas los activos de cada uno de los Fondos.
El Fondo podrá invertir hasta el 15 % de sus activos totales en valores de titulización de activos y en pagarés respaldados por activos que cuenten con una liquidez suficiente.
El Fondo también puede celebrar acuerdos de recompra inversa a corto plazo. Se trata de contratos en virtud de los cuales el Fondo acuerda comprar en efectivo deuda pública a determinados terceros considerados elegibles, y acepta que el vendedor podrá recomprarlos en un momento y a un precio preestablecidos.
El asesor de inversiones (AI) podrá utilizar instrumentos financieros derivados (IFD) (es decir, inversiones cuyos precios se basan en uno o más activos subyacentes) con fines de inversión para lograr el objetivo de inversión del Fondo, y para reducir los riesgos asociados a los tipos de interés o al cambio de divisas dentro de la cartera del Fondo. El Fondo podrá, a través de IFD, generar distintos niveles de apalancamiento de mercado (es decir, cuando el Fondo incurre en una exposición de mercado superior al valor de sus activos).
El Fondo se gestiona de forma activa y el AI tiene potestad para seleccionar las inversiones del Fondo sin la obligación de utilizar un parámetro de referencia concreto. Los inversores deberían utilizar el Secured Overnight Financing Rate (SOFR) Index para comparar la rentabilidad del Fondo.
El Fondo es un «fondo del mercado monetario a corto plazo de NAV variable», tal y como establece el Reglamento de la UE sobre fondos del mercado monetario.
Las inversiones del Fondo se valoran utilizando, siempre que sea posible, el método de valoración de mercado, y si no es posible, el método de valoración según modelo. El NAV se calcula hasta cuatro cifras decimales y establece el NAV de negociación.
Recomendación: Este Fondo puede no ser adecuado para inversores que buscan una revalorización a largo plazo. Sus acciones serán no distributivas (los ingresos por dividendo se incorporarán a su valor).
La moneda base del Fondo es el dólar estadounidense. Las acciones correspondientes a esta clase se compran y venden en libras esterlinas. La rentabilidad de sus acciones podría verse afectada por esta diferencia de divisas.
Sus acciones tendrán «cobertura» con el fin de reducir el efecto de las fluctuaciones del tipo de cambio entre su divisa de denominación y la moneda base del Fondo. La estrategia de cobertura podría no eliminar totalmente el riesgo cambiario y, por tanto, podría afectar a la rentabilidad de sus acciones.
Puede usted comprar y vender diariamente sus acciones. La inversión inicial mínima para esta clase de acciones es de 100 000 USD o su equivalente en otra moneda.
Para más información sobre el Fondo, las clases de acciones/participaciones, los riesgos y los gastos, consúltese el folleto del Fondo, disponible en las páginas de productos de www.blackrock.com. | # Objectives and Investment Policy
The Fund aims to offer returns in line with money market rates consistent with preservation of capital and liquidity. Money invested in the Fund is not protected or guaranteed. The Fund does not rely on external support for guaranteeing the liquidity of the Fund or stabilising the net asset value (NAV) per share. The Fund is a short- term money market fund.
The Fund invests at least 90% of its total assets in fixed income (FI) securities denominated in US dollars. These include bonds and money market instruments (i.e. debt securities with short term maturities).
The FI securities may be issued by the United States (US) government and its agencies, non-US governments and government agencies, and companies and supranationals (e.g. the International Bank for Reconstruction and Development) domiciled inside or outside of the US.
The FI securities may be investment grade (i.e. meet a specified level of credit worthiness), non-investment grade or unrated at the time of purchase.
The Fund will limit its investment to assets which have 397 days or less remaining until the full principal must be repaid. The weighted average maturity (i.e. the average length of time to the date when the principal of the asset is to be repaid in full (or, in respect of interest rate notes, the average length of time to the next interest rate reset to a money market rate) of all of the Fund’s assets will be up to 60 days. The weighted average life (i.e. the average length of time to the date when the principal of the assets is to be repaid in full) of all of the Fund’s assets will be up to 120 days. To calculate these averages, figures are adjusted to reflect the relative holdings of each of the Fund’s assets.
The Fund may invest up to 15% of its total assets in securitisations and asset backed commercial paper that are sufficiently liquid.
The Fund may also enter into reverse repurchase agreements on a short term basis. Through these, the Fund agrees to purchase government securities from certain eligible third parties for cash and that the seller can buy these back at an agreed time and price.
The investment adviser (IA) may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) for investment purposes in order to achieve the investment objective of the Fund, and/or to reduce interest rate or currency exchange rate risk within the Fund’s portfolio. The Fund may, via FDIs, generate varying amounts of market leverage (i.e. where the Fund gains market exposure in excess of the value of its assets).
The Fund is actively managed, and the IA has discretion to select the Fund's investments without reference to any benchmark. The Secured Overnight Financing Rate (SOFR) Index should be used by investors to compare the performance of the Fund.
The Fund is a “Short Term Variable NAV Money Market Fund” as defined by the EU Money Markets Funds Regulation.
The investments of the Fund are valued using the mark-to-market method where possible, and if not, the mark-to-model method is used. The NAV is calculated to four decimal places and forms the dealing NAV.
Recommendation: This Fund may not be appropriate for investors who seek long-term growth. Your shares will be non-distributing (i.e. dividend income will be included in their value).
The Fund’s base currency is US Dollar. Shares for this class are bought and sold in Sterling. The performance of your shares may be affected by this currency difference.
Your shares will be “hedged” with the aim of reducing the effect of exchange rate fluctuations between their denominated currency and the base currency of the Fund. The hedging strategy may not completely eliminate currency risk and, therefore, may affect the performance of your shares.
You can buy and sell your shares daily. The minimum initial investment for this share class is US$100,000 or other currency equivalent.
For more information on the Fund, share/unit classes, risks and charges, please see the Fund's prospectus, available on the product pages at www.blackrock.com | en | es |
DOLFIN3431 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
## Recommended holding period: until 31 December 2024.
Frequency of unit buying or selling: Daily, with the exception of French public holidays and/or days on which the French markets are closed (pursuant to the official calendar of Euronext Paris S.A.), for all orders received at the clearing house on each net asset value calculation day before 11.00 a.m. at that day’s net asset value.
If the assets of the UCITS have not reached €500 million by 1 April 2018, the marketing period shall be extended until 28 February 2019 inclusive. At the end of this period, the UCITS will be closed to all subscriptions (except in the case of a concurrent subscription and redemption by the same investor for the same amount executed on the same net asset value date).
Allocation of income: Distribution
Allocation of net realised gains: Accumulation and/or Distribution and/or Carried forward | ## Duración de la inversión recomendada: Hasta el 31 de diciembre de 2024.
Frecuencia de compra o venta de participaciones: Todos los días, a excepción de los días festivos o los días de cierre de los mercados en Francia (calendario oficial de Euronext Paris S.A.) para las órdenes recibidas por el centralizador cada día de cálculo del valor liquidativo antes de las 11:00, en función del valor liquidativo del día. Dado que el valor del OICVM no había alcanzado los 500 millones de euros el 1 de abril de 2018, el período de comercialización se ampliará hasta el 28 de febrero de 2019, inclusive, a más tardar. Al final de ese periodo, el OICVM se cerrará a toda suscripción (salvo en caso de una suscripción concomitante a un reembolso procedente de un mismo inversor de la misma cantidad y ejecutada en la misma fecha de valor liquidativo).
Asignación de los ingresos: Distribución
Asignación de las plusvalías netas realizadas: Capitalización y/o Distribución y/o Aplazamiento | ## Recommended holding period: until 31 December 2024.
Frequency of unit buying or selling: Daily, with the exception of French public holidays and/or days on which the French markets are closed (pursuant to the official calendar of Euronext Paris S.A.), for all orders received at the clearing house on each net asset value calculation day before 11.00 a.m. at that day’s net asset value.
If the assets of the UCITS have not reached €500 million by 1 April 2018, the marketing period shall be extended until 28 February 2019 inclusive. At the end of this period, the UCITS will be closed to all subscriptions (except in the case of a concurrent subscription and redemption by the same investor for the same amount executed on the same net asset value date).
Allocation of income: Distribution
Allocation of net realised gains: Accumulation and/or Distribution and/or Carried forward | en | es |
DOLFIN3432 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Exchange of Information - Foreign Account Tax Compliance (“FATCA”)
PURSUANT TO U.S. TREASURY DEPARTMENT CIRCULAR 230, THE COMPANY IS INFORMING PROSPECTIVE INVESTORS THAT (A) THE SUMMARY SET FORTH BELOW IS NOT INTENDED AND WAS NOT WRITTEN TO BE USED, AND CANNOT BE USED, BY ANY TAXPAYER FOR THE PURPOSE OF AVOIDING PENALTIES UNDER THE U.S. FEDERAL TAX LAWS THAT MAY BE IMPOSED ON THE TAXPAYER, (B) THE SUMMARY SET FORTH BELOW WAS WRITTEN IN CONNECTION WITH THE PROMOTION OR MARKETING BY THE COMPANY AND THE DISTRIBUTION OF THE SHARES, AND (C) EACH TAXPAYER SHOULD SEEK ADVICE BASED ON HIS/ HER PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISER.
The United States HIRE Act was adopted in March 2010. It includes provisions generally known as FATCA.
The intention of FATCA is to request financial institutions to report the assets held by Specified US Persons outside the U.S. to the IRS as a safeguard against U.S. tax evasion. As a result of the HIRE Act, and to discourage non-U.S. Financial Institutions from
non-complying with FATCA, all US Source Withholdable Payments generated by a Financial Institution that does not enter and comply with FATCA will in principle be subject to a US tax withholding of 30 per cent including gross sales proceeds as well as U.S. source income (i.e. dividends and interests).
On 28 March 2014, Luxembourg has signed an IGA with the U.S., in order to facilitate compliance of Luxembourg Financial Institutions, such as the Company, with FATCA and avoid the above-described US withholding tax. Under the IGA, Luxembourg Financial Institutions will provide the LTA with information on the identity of and the income received by their investors that are Specified US Persons or, in case of being a Shareholder of a Non-US Entity that is a Passive NFFE, on the status of any Controlling Person that is a Specified US Person. The LTA will then automatically pass the information on to the IRS. Such reporting is, however, not required in case the Luxembourg Financial Institution can rely on a specific exemption or a deemed-compliant category contained in the IGA.
Additionally, the Company is responsible for the processing of personal data and each Shareholder has a right to access the data communicated to the LTA and to correct such data (if necessary). Any data obtained by the Company are to be processed in accordance with the Luxembourg law dated 2 August 2002 on the protection of persons with regard to the processing of personal data, as amended.
The Company therefore requires all Shareholders to provide mandatory documentary evidence on their status as a Specified US Person or, in case of being a Shareholder of a Non-US Entity that is a Passive NFFE, on the status of any Controlling Person that is a Specified US Person. Under the IGA, the Company will be required to, inter alia, disclose the name, address and taxpayer identification number of these Specified US persons that directly (or indirectly, in case of being a Shareholder that is a Controlling Person of a Passive NFFE) own Shares in the Company, as well as information on the balance or value of the direct (or indirect, in case of a Shareholder that is a Controlling Person of a Passive NFFE) Shares owned in the Company by such Specified US Persons, as well as on any amounts directly or indirectly paid by the Company to such Specified US Persons.
The Company’s ability to satisfy its obligations under the IGA will depend on each Shareholder in the Company providing the Company with any information, including information concerning the direct or indirect owners of such Shareholder, that the Company determines is necessary to satisfy such obligations. Each Shareholder agrees to provide such information upon request by the Company.
A Shareholder that fails to comply with such documentation requests may be charged with any taxes or penalties imposed on the Company attributable to such Shareholder’s non-compliance under the IGA and FATCA, and the Company may, in its sole discretion, redeem such Shares.
While the Company will make all reasonable efforts to seek documentation from Shareholders to comply with these rules and to allocate any taxes or penalties imposed or required to be deducted under the IGA and/or FATCA to Shareholders whose non-compliance caused the imposition or deduction of the tax or penalty, it cannot be excluded that other complying Shareholders in the Company may be affected by the presence of such non-complying Shareholders.
All prospective investors and Shareholders are advised to consult with their own tax advisors regarding the possible implications of FATCA on their investment in the Company.
Luxembourg Financial Institutions such as the Company will have to exchange information within nine months after the end of the calendar year to which the information relates. | # Échange d’informations - Foreign Account Tax Compliance (« FATCA »)
CONFORMÉMENT À LA CIRCULAIRE 230 DU DÉPARTEMENT DU TRÉSOR, LA SOCIÉTÉ INFORME LES INVESTISSEURS POTENTIELS QUE (A) LE RÉSUMÉ EXPOSÉ CI-DESSOUS N’EST PAS DESTINÉ ET N’A PAS ÉTÉ RÉDIGÉ POUR ÊTRE UTILISÉ, ET NE PEUT ÊTRE UTILISÉ, PAR UN CONTRIBUABLE DANS LE BUT D’ÉVITER TOUTE CHARGE FISCALE FÉDÉRALE AMÉRICAINE POUVANT ÊTRE IMPOSÉE AUDIT CONTRIBUABLE, (B) LE RÉSUMÉ EXPOSÉ CI-DESSOUS A ÉTÉ RÉDIGÉ POUR SOUTENIR LA PROMOTION ET LA COMMERCIALISATION DES ACTIONS, ET (C) CHAQUE CONTRIBUABLE DEVRAIT SOLLICITER DES CONSEILS EN FONCTION DE SA SITUATION PERSONNELLE SPÉCIFIQUE AUPRÈS D’UN CONSEILLER FISCAL INDÉPENDANT.
La loi HIRE (HIRE Act) américaine a été adoptée en mars 2010. Celle-ci inclut les dispositions généralement connues sous l’appellation « FATCA ».
FATCA vise à demander aux institutions financières de communiquer à l’IRS (l’administration fiscale américaine) les actifs détenus en dehors des États-Unis par des Personnes des États-Unis spécifiées afin de lutter contre l’évasion fiscale aux États-Unis. Suite au HIRE Act et pour décourager les institutions financières étrangères de ne pas se conformer à FATCA, tous les paiements susceptibles de faire l’objet d’un prélèvement à la source aux États-Unis et générés par une institution financière qui ne respecte pas FATCA seront en principe soumis à une retenue à la source de 30 % aux États-Unis, y compris les produits bruts de ventes et les revenus originaires des États-Unis (dividendes et intérêts).
Le 28 mars 2014, le Luxembourg a signé un IGA (accord intergouvernemental) avec les États-Unis afin de faciliter le respect de FATCA par les institutions financières luxembourgeoises et d’éviter le prélèvement à la source américain décrit ci-dessus. Au titre de cet IGA, les institutions
financières luxembourgeoises communiquent aux AFL des informations concernant l’identité de leurs investisseurs qui sont des Personnes des États-Unis spécifiées et les revenus perçus par ces investisseurs ou, dans le cas des Actionnaires d’une entité non américaine qui est une NFFE passive, le statut de toute Personne exerçant le contrôle qui est une Personne des États-Unis spécifiée. Les AFL transmettront automatiquement ces informations à l’IRS. Cette communication n’est toutefois pas requise dans le cas des institutions financières luxembourgeoises bénéficiant d’une exemption spécifique ou appartenant à une catégorie jugée conforme prévue par l’IGA.
La Société est en outre responsable du traitement des données personnelles et tout Actionnaire est habilité à accéder aux données communiquées aux AFL et à les faire corriger (le cas échéant). Toutes les données obtenues par la Société devront être traitées conformément aux dispositions de la loi luxembourgeoise du 2 août 2002 sur la protection des personnes au regard du traitement de leurs données à caractère personnel, telle que modifiée.
La Société demande donc à tous les Actionnaires de fournir obligatoirement des documents justificatifs concernant leur statut de Personne des États-Unis spécifiée ou, dans le cas des Actionnaires d’une entité non américaine qui est une NFFE passive, le statut de toute Personne exerçant le contrôle qui est une Personne des États-Unis spécifiée. Au titre de l’IGA, la Société sera tenue, entre autres, de divulguer le nom, l’adresse et l’identifiant fiscal de ces Personnes des États-Unis spécifiées qui possèdent des actions de la Société de façon directe (ou indirecte, dans le cas des Actionnaires qui sont des Personnes exerçant le contrôle d’une NFFE passive), ainsi que des informations sur le solde ou la valeur des actions de la Société détenues directement (ou indirectement, dans le cas des Actionnaires qui sont des Personnes exerçant le contrôle d’une NFFE passive) par ces Personnes des États-Unis spécifiées ainsi que sur les montants versés directement ou indirectement par la Société à ces Personnes des États-Unis spécifiées.
Pour que la Société puisse respecter ses obligations au titre de l’IGA, il sera nécessaire que chacun des Actionnaires de la Société lui fournisse toutes les informations, y compris des informations concernant les propriétaires directs ou indirects de l’Actionnaire concerné, que la Société estime nécessaires pour répondre à ces obligations. Chaque Actionnaire s’engage à fournir ces informations à la demande de la Société.
Tout actionnaire qui ne répondrait pas à ces demandes d’informations peut se voir facturer les taxes ou pénalités éventuelles imposées à la Société du fait de la non-conformité de cet Actionnaire au titre de l’IGA et de FATCA et la Société peut, à sa seule discrétion, racheter ces actions.
La Société fera tous les efforts raisonnables pour obtenir les documents nécessaires des Actionnaires afin de respecter ces règles et pour imputer toutes les taxes ou pénalités imposées ou déduites en vertu de l’IGA et/ou du FATCA aux Actionnaires dont la non-conformité a entraîné l’imposition ou la déduction de la taxe ou de la pénalité, il reste une possibilité que les autres Actionnaires de la Société qui respectent les règles subissent les conséquences de la présence de ces Actionnaires non conformes.
Tous les investisseurs potentiels et tous les Actionnaires sont invités à consulter leurs propres conseillers fiscaux en ce qui concerne les conséquences possibles de FATCA sur leur investissement dans la Société.
Les institutions financières luxembourgeoises telles que la Société devront échanger des informations dans un délai de neuf mois après la fin de l’année civile à laquelle ces informations se rapportent. | # Exchange of Information - Foreign Account Tax Compliance (“FATCA”)
PURSUANT TO U.S. TREASURY DEPARTMENT CIRCULAR 230, THE COMPANY IS INFORMING PROSPECTIVE INVESTORS THAT (A) THE SUMMARY SET FORTH BELOW IS NOT INTENDED AND WAS NOT WRITTEN TO BE USED, AND CANNOT BE USED, BY ANY TAXPAYER FOR THE PURPOSE OF AVOIDING PENALTIES UNDER THE U.S. FEDERAL TAX LAWS THAT MAY BE IMPOSED ON THE TAXPAYER, (B) THE SUMMARY SET FORTH BELOW WAS WRITTEN IN CONNECTION WITH THE PROMOTION OR MARKETING BY THE COMPANY AND THE DISTRIBUTION OF THE SHARES, AND (C) EACH TAXPAYER SHOULD SEEK ADVICE BASED ON HIS/ HER PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISER.
The United States HIRE Act was adopted in March 2010. It includes provisions generally known as FATCA.
The intention of FATCA is to request financial institutions to report the assets held by Specified US Persons outside the U.S. to the IRS as a safeguard against U.S. tax evasion. As a result of the HIRE Act, and to discourage non-U.S. Financial Institutions from
non-complying with FATCA, all US Source Withholdable Payments generated by a Financial Institution that does not enter and comply with FATCA will in principle be subject to a US tax withholding of 30 per cent including gross sales proceeds as well as U.S. source income (i.e. dividends and interests).
On 28 March 2014, Luxembourg has signed an IGA with the U.S., in order to facilitate compliance of Luxembourg Financial Institutions, such as the Company, with FATCA and avoid the above-described US withholding tax. Under the IGA, Luxembourg Financial Institutions will provide the LTA with information on the identity of and the income received by their investors that are Specified US Persons or, in case of being a Shareholder of a Non-US Entity that is a Passive NFFE, on the status of any Controlling Person that is a Specified US Person. The LTA will then automatically pass the information on to the IRS. Such reporting is, however, not required in case the Luxembourg Financial Institution can rely on a specific exemption or a deemed-compliant category contained in the IGA.
Additionally, the Company is responsible for the processing of personal data and each Shareholder has a right to access the data communicated to the LTA and to correct such data (if necessary). Any data obtained by the Company are to be processed in accordance with the Luxembourg law dated 2 August 2002 on the protection of persons with regard to the processing of personal data, as amended.
The Company therefore requires all Shareholders to provide mandatory documentary evidence on their status as a Specified US Person or, in case of being a Shareholder of a Non-US Entity that is a Passive NFFE, on the status of any Controlling Person that is a Specified US Person. Under the IGA, the Company will be required to, inter alia, disclose the name, address and taxpayer identification number of these Specified US persons that directly (or indirectly, in case of being a Shareholder that is a Controlling Person of a Passive NFFE) own Shares in the Company, as well as information on the balance or value of the direct (or indirect, in case of a Shareholder that is a Controlling Person of a Passive NFFE) Shares owned in the Company by such Specified US Persons, as well as on any amounts directly or indirectly paid by the Company to such Specified US Persons.
The Company’s ability to satisfy its obligations under the IGA will depend on each Shareholder in the Company providing the Company with any information, including information concerning the direct or indirect owners of such Shareholder, that the Company determines is necessary to satisfy such obligations. Each Shareholder agrees to provide such information upon request by the Company.
A Shareholder that fails to comply with such documentation requests may be charged with any taxes or penalties imposed on the Company attributable to such Shareholder’s non-compliance under the IGA and FATCA, and the Company may, in its sole discretion, redeem such Shares.
While the Company will make all reasonable efforts to seek documentation from Shareholders to comply with these rules and to allocate any taxes or penalties imposed or required to be deducted under the IGA and/or FATCA to Shareholders whose non-compliance caused the imposition or deduction of the tax or penalty, it cannot be excluded that other complying Shareholders in the Company may be affected by the presence of such non-complying Shareholders.
All prospective investors and Shareholders are advised to consult with their own tax advisors regarding the possible implications of FATCA on their investment in the Company.
Luxembourg Financial Institutions such as the Company will have to exchange information within nine months after the end of the calendar year to which the information relates. | en | fr |
DOLFIN3433 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
When the SICAV pays expenses concerning one sub-fund in particular, they are allocated to that sub- fund. Expenses not attributable to one sub-fund in particular are split between the different sub-funds pro rata to the net asset value of each sub-fund.
- Change in the securities portfolioThe table of changes in the securities portfolio is available at no cost at the registered office of the SICAV.
- Crossed InvestmentsThe Combined statement of net assets and the Combined statement of operations and other changes in net assets represent the sum of the relevant statements of each of the sub-funds. Cross holdings (when one sub-fund has invested in another of the SICAV’s sub-funds) and the related cross-sub-fund accounts have not been eliminated in the combined statements. | Lorsque la SICAV fait face à des frais concernant un compartiment en particulier, ces derniers sont alloués à ce compartiment. Les dépenses non attribuables à un compartiment en particulier sont réparties entre les différents compartiments au prorata de la valeur nette d’inventaire de chaque compartiment.
- Variation du portefeuille-titresLe tableau des variations du portefeuille-titres est disponible sans frais au siège social de SICAV.
- Investissements croisésL’état combiné du patrimoine et l’état combiné des opérations et des autres variations de l’actif net sont la somme des états de chaque compartiment. Les investissements croisés (lorsqu’un compartiment a investi dans un autre compartiment du Fonds) et les comptes interfonds liés n’ont pas été éliminés pour les besoins de la présentation des résultats combinés. | When the SICAV pays expenses concerning one sub-fund in particular, they are allocated to that sub- fund. Expenses not attributable to one sub-fund in particular are split between the different sub-funds pro rata to the net asset value of each sub-fund.
- Change in the securities portfolioThe table of changes in the securities portfolio is available at no cost at the registered office of the SICAV.
- Crossed InvestmentsThe Combined statement of net assets and the Combined statement of operations and other changes in net assets represent the sum of the relevant statements of each of the sub-funds. Cross holdings (when one sub-fund has invested in another of the SICAV’s sub-funds) and the related cross-sub-fund accounts have not been eliminated in the combined statements. | en | fr |
DOLFIN3434 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Contracts for Differences
If the value of a CFD falls then the buyer of the contract will pay the seller the difference between the current value and the future value. For example, if the CFD contract is underpinned by an equity then the buyer can speculate on share price movements without the need to own the underlying shares. Thus CFDs allow investors to take long or short positions synthetically and the contract may have no fixed expiry date or contract size.
Therefore CFDs do not have a maturity date and can be traded at any time on the OTC market. The underlying instrument may cover shares or indices. If dividends are paid on the underlying shares, buyers of long contracts (speculating on a rise) receive a compensatory payment. These amounts are paid by the seller of the long contract. If dividends are paid on the underlying shares, buyers of short contracts (speculating on a fall) pay a compensatory payment. The benefit of CFDs is that exposure can be obtained to price movements in underlying securities and instruments without the need to commit large amounts of capital. A holder of a CFD merely needs to deposit money in order to create the required initial margin. The purpose of this margin is to hedge potential losses which may result from the transaction. Margin requirements may need to be increased during the life of the CFD to meet changes in the value of the contract. The contract may be closed automatically if the losses exceed the guaranteed amounts.
A Sub-Fund may make wide use of CFDs. CFDs carry significant leverage effects. The force of the leverage effect can move against the holder of the CFD as easily and as quickly as it can in their favour. To mitigate this risk, each Sub-Fund will use CFDs to obtain long or short exposure to equities and other securities, not to gain additional leverage. | # Contrats pour différence
Si la valeur d’un CFD baisse, l’acheteur du contrat règle au vendeur l’écart entre la valeur actuelle de l’actif et sa valeur à venir. Par exemple, si le CFD a une action pour sous-jacent, l’acheteur peut spéculer sur l’évolution du cours de l’action sans avoir à en détenir. Ainsi les CFD permettent aux investisseurs de prendre des positions acheteur ou vendeur synthétiquement, le contrat n’ayant ni date d’expiration fixe ni valeur minimum.
Ils n’ont donc pas de date d’échéance et peuvent être négociés à tout moment sur le marché de gré à gré. L’instrument sous-jacent peut être constitué d’actions ou d’indices. Si les actions sous-jacentes font l’objet de paiement de dividendes, l’acheteur du contrat long (spéculant à la hausse) perçoit un paiement compensatoire. Ces sommes sont payées par le vendeur du contrat long. Si les actions sous-jacentes font l’objet de paiement de dividendes, l’acheteur du contrat court (spéculant à la baisse) verse un paiement compensatoire. L’intérêt des CFD est qu’ils permettent de d’avoir une exposition aux variations de cours des titres sous-jacents sans nécessiter l’engagement de capitaux importants. Un porteur de CFD doit simplement déposer une somme correspondant à la marge de trésorerie initiale requise. L’objectif de cette marge est de couvrir les pertes potentielles qui pourraient résulter de l’opération. Les exigences de marge peuvent s’accroître au cours de l’existence du CFD pour accompagner l’évolution de la valeur du contrat. Le contrat peut être clos automatiquement si les pertes dépassent les montants garantis.
Un Compartiment peut utiliser des CFD de manière généralisée. Les CFD comportent d’importants effets de levier. L’effet de levier peut jouer à l’encontre du détenteur du CFD comme en sa faveur. Pour réduire ce risque, chaque Compartiment utilise les CFD pour se constituer des expositions longues ou courtes aux actions et aux autres titres et non pour augmenter l’effet de levier. | # Contracts for Differences
If the value of a CFD falls then the buyer of the contract will pay the seller the difference between the current value and the future value. For example, if the CFD contract is underpinned by an equity then the buyer can speculate on share price movements without the need to own the underlying shares. Thus CFDs allow investors to take long or short positions synthetically and the contract may have no fixed expiry date or contract size.
Therefore CFDs do not have a maturity date and can be traded at any time on the OTC market. The underlying instrument may cover shares or indices. If dividends are paid on the underlying shares, buyers of long contracts (speculating on a rise) receive a compensatory payment. These amounts are paid by the seller of the long contract. If dividends are paid on the underlying shares, buyers of short contracts (speculating on a fall) pay a compensatory payment. The benefit of CFDs is that exposure can be obtained to price movements in underlying securities and instruments without the need to commit large amounts of capital. A holder of a CFD merely needs to deposit money in order to create the required initial margin. The purpose of this margin is to hedge potential losses which may result from the transaction. Margin requirements may need to be increased during the life of the CFD to meet changes in the value of the contract. The contract may be closed automatically if the losses exceed the guaranteed amounts.
A Sub-Fund may make wide use of CFDs. CFDs carry significant leverage effects. The force of the leverage effect can move against the holder of the CFD as easily and as quickly as it can in their favour. To mitigate this risk, each Sub-Fund will use CFDs to obtain long or short exposure to equities and other securities, not to gain additional leverage. | en | fr |
DOLFIN3435 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The Annual General Meeting of the investors of the Company takes place on the second Wednesday in October of each calendar year at 10.00 am in Luxembourg. If this day should not be a banking day in Luxembourg, then the Annual General Meeting will take place on the next banking day in Luxembourg. Other Extraordinary General Meetings of the Company, or meetings of individual Sub-funds or of their share categories, respectively can be held in addition. The invitations to the general meeting and to other meetings are sent in accordance with the law of Luxembourg. They are published in the Mémorial, in the Luxembourg newspaper “Luxemburger Wort” and in other newspapers selected by the Board of Directors. These publications contain information about the place and the time of the general meeting, about the conditions of participation, the agenda as well as the quorum, where required, and the majorities required for the resolutions.
The financial year of the Company starts on the 1st of July and ends on the 30th of June in the following year.
The annual report, which includes the audited consolidated annual statement of accounts of the company, respectively of the Sub-fund, is available no later than fifteen (15) days before the Annual General Meeting at the registered office of the company. Unaudited semi-annual reports are available there within two (2) months of date of the respective half-year period. Copies of these reports are in all cases available from the national representatives as well as from RBC.
In addition to the annual reports and the mid-year reports, which refer to all Sub-funds, separate annual reports and mid- year reports can be prepared for individual Sub-funds.
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## Applicable Law, Place of Jurisdiction | Die jährliche Generalversammlung der Anleger der Gesellschaft findet jeweils am zweiten Mittwoch im Oktober eines jeden Kalenderjahres um 10.00 Uhr in Luxemburg statt. Ist dieser Tag kein Bankarbeitstag in Luxemburg, findet die General- versammlung am darauffolgenden Bankarbeitstag in Luxemburg statt. Andere, ausserordentliche Generalversammlungen der Gesellschaft oder Versammlungen einzelner Subfonds bzw. von deren Anteilskategorien können zusätzlich abgehalten werden. Die Einladungen zur Generalversammlung und anderen Versammlungen erfolgen in Übereinstimmung mit dem luxemburgischen Recht. Sie werden im Mémorial, in der Luxemburger Zeitung „Luxemburger Wort“ sowie in anderen vom Verwaltungsrat gewählten Zeitungen veröffentlicht. Diese Publikationen enthalten Informationen über den Ort und den Zeitpunkt der Generalversammlung, über die Teilnahmebedingungen, die Tagesordnung, sowie – wenn erforderlich – das Quorum und die für Beschlüsse erforderlichen Mehrheiten.
Das Geschäftsjahr der Gesellschaft beginnt jeweils am 1. Juli und endet am 30. Juni des darauffolgenden Jahres.
Der jährliche Rechenschaftsbericht, der den geprüften konsolidierten Jahresabschluss der Gesellschaft bzw. der Subfonds enthält, ist spätestens fünfzehn (15) Tage vor der jährlichen Generalversammlung am Sitz der Gesellschaft erhältlich. Ungeprüfte Halbjahresberichte liegen dort binnen zwei (2) Monaten nach dem betreffenden Halbjahresenddatum vor. Exemplare dieser Berichte sind jeweils bei den nationalen Vertretern sowie bei der RBC erhältlich.
Neben den jährlichen Rechenschaftsberichten und den Halbjahresberichten, welche sich auf alle Subfonds beziehen, können auch für einzelne Subfonds gesonderte jährliche Rechenschaftsberichte und Halbjahresberichte erstellt werden.
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## Anwendbares Recht, Gerichtsstand | The Annual General Meeting of the investors of the Company takes place on the second Wednesday in October of each calendar year at 10.00 am in Luxembourg. If this day should not be a banking day in Luxembourg, then the Annual General Meeting will take place on the next banking day in Luxembourg. Other Extraordinary General Meetings of the Company, or meetings of individual Sub-funds or of their share categories, respectively can be held in addition. The invitations to the general meeting and to other meetings are sent in accordance with the law of Luxembourg. They are published in the Mémorial, in the Luxembourg newspaper “Luxemburger Wort” and in other newspapers selected by the Board of Directors. These publications contain information about the place and the time of the general meeting, about the conditions of participation, the agenda as well as the quorum, where required, and the majorities required for the resolutions.
The financial year of the Company starts on the 1st of July and ends on the 30th of June in the following year.
The annual report, which includes the audited consolidated annual statement of accounts of the company, respectively of the Sub-fund, is available no later than fifteen (15) days before the Annual General Meeting at the registered office of the company. Unaudited semi-annual reports are available there within two (2) months of date of the respective half-year period. Copies of these reports are in all cases available from the national representatives as well as from RBC.
In addition to the annual reports and the mid-year reports, which refer to all Sub-funds, separate annual reports and mid- year reports can be prepared for individual Sub-funds.
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## Applicable Law, Place of Jurisdiction | en | de |
DOLFIN3436 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The SICAV may invest and manage all or any part of the assets established for two or more Portfolios (“Participating Portfolios”) on a pooled basis. Any such asset pool shall be formed by transferring to it cash or other assets (subject to such assets being appropriate in respect of the investment policy of the pool concerned) from each of the Participating Portfolios.
The share of a Participating Portfolio in an asset pool shall be measured by reference to notional units of equal value in the asset pool.
As at September 30, 2022 the SICAV had no pooling of assets, however the Threadneedle (Lux) - Global Dynamic Real Return Portfolio, for investment management purposes, is split by asset class into multiple baskets solely held by itself.
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### CHANGES IN PORTFOLIO STATEMENTS COMPOSITION | Die SICAV kann die Gesamtheit oder einen Teil des Vermögens zweier oder mehrerer Portfolios („teilnehmende Portfolios“) in Form eines Pools anlegen und verwalten. Ein solcher Vermögenspool wird durch Übertragung von Barmitteln oder anderen Vermögenswerten der jeweiligen teilnehmenden Portfolios gebildet (wobei diese Vermögenswerte im Hinblick auf die Anlagepolitik des betreffenden Pools geeignet sein müssen).
Der Anteil eines teilnehmenden Portfolios an einem Vermögenspool wird anhand von rechnerischen Anteilen (Units) gleichen Werts an dem Vermögenspool bestimmt.
Zum 30. September 2022 verfügte die SICAV über kein Pooling von Vermögenswerten, jedoch ist das Threadneedle (Lux) - Global Dynamic Real Return Portfolio zu Anlageverwaltungszwecken nach Anlageklassen in mehrere Körbe aufgeteilt, die ausschließlich von ihm selbst gehalten werden.
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### ÄNDERUNGEN BEI DEN PORTFOLIOAUFSTELLUNGEN | The SICAV may invest and manage all or any part of the assets established for two or more Portfolios (“Participating Portfolios”) on a pooled basis. Any such asset pool shall be formed by transferring to it cash or other assets (subject to such assets being appropriate in respect of the investment policy of the pool concerned) from each of the Participating Portfolios.
The share of a Participating Portfolio in an asset pool shall be measured by reference to notional units of equal value in the asset pool.
As at September 30, 2022 the SICAV had no pooling of assets, however the Threadneedle (Lux) - Global Dynamic Real Return Portfolio, for investment management purposes, is split by asset class into multiple baskets solely held by itself.
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### CHANGES IN PORTFOLIO STATEMENTS COMPOSITION | en | de |
DOLFIN3437 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
| Investment 10,000 EUR Scenarios | If you exit after 1 year | If you exit after 5 years |
| --- | --- | --- |
| Total Costs | 254 EUR | 1,460 EUR |
| Annual Cost Impact (*) | 2.54% | 2.62% each year | | | Investissement 10.000 EUR Scénarios | Si vous quittez après 1 an | Si vous quittez après 5 ans |
| --- | --- | --- |
| Coûts totaux | 254 EUR | 1.460 EUR |
| Impact sur les coûts annuels (*) | 2,54% | 2,62% chaque année | | | Investment 10,000 EUR Scenarios | If you exit after 1 year | If you exit after 5 years |
| --- | --- | --- |
| Total Costs | 254 EUR | 1,460 EUR |
| Annual Cost Impact (*) | 2.54% | 2.62% each year | | en | fr |
DOLFIN3438 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
| CCY | Portfolio designation | Purchases 1) | Sales 1) | Inventory as of | Price | Market value | % of |
| --- | --- | --- | --- | --- | --- | --- | --- |
| | | 29.06.2023 | | in EUR | NAV |
| TOTAL SECURITIES AND OTHER FIXED ASSETS | | | | 11'606'316 | 94.00% |
| DERIVATIVE FINANCIAL INSTRUMENTS | | | | | |
| EUR | Receivables from forward exchange contracts | | | | 8'989 | 0.07% |
| EUR | Liabilities from forward exchange contracts | | | | -26'473 | -0.21% |
| EUR | Receivables from warrants | | | | 15'592 | 0.13% |
| TOTAL DERIVATIVES FINANCIAL INSTRUMENTS | | | | -1'891 | -0.02% |
| EUR | Current account balance | | | | 798'019 | 6.46% |
| EUR | Other assets | | | | 9'804 | 0.08% |
| TOTAL FUND ASSETS | | | | 12'412'248 | 100.53% |
| EUR | Receivables and liabilities | | | | -65'093 | -0.53% |
| NET FUND ASSETS | | | | 12'347'156 | 100.00% | | | WHG | Portfolio Bezeichnung | Käufe 1) | Verkäufe 1) | Bestand per | Kurs | Kurswert | % des |
| --- | --- | --- | --- | --- | --- | --- | --- |
| | | 29.06.2023 | | in EUR | NIW |
| TOTAL WERTPAPIERE UND ANDERE ANLAGEWERTE | | | | 11’606’316 | 94.00% |
| DERIVATE FINANZINSTRUMENTE | | | | | |
| EUR | Forderungen aus Devisenterminkontrakten | | | | 8’989 | 0.07% |
| EUR | Verbindlichkeiten aus Devisenterminkontrakten | | | | -26’473 | -0.21% |
| EUR | Forderungen aus Optionsscheinen | | | | 15’592 | 0.13% |
| TOTAL DERIVATE FINANZINSTRUMENTE | | | | -1’891 | -0.02% |
| EUR | Kontokorrentguthaben | | | | 798’019 | 6.46% |
| EUR | Sonstige Vermögenswerte | | | | 9’804 | 0.08% |
| GESAMTFONDSVERMÖGEN | | | | 12’412’248 | 100.53% |
| EUR | Forderungen und Verbindlichkeiten | | | | -65’093 | -0.53% |
| NETTOFONDSVERMÖGEN | | | | 12’347’156 | 100.00% | | | CCY | Portfolio designation | Purchases 1) | Sales 1) | Inventory as of | Price | Market value | % of |
| --- | --- | --- | --- | --- | --- | --- | --- |
| | | 29.06.2023 | | in EUR | NAV |
| TOTAL SECURITIES AND OTHER FIXED ASSETS | | | | 11'606'316 | 94.00% |
| DERIVATIVE FINANCIAL INSTRUMENTS | | | | | |
| EUR | Receivables from forward exchange contracts | | | | 8'989 | 0.07% |
| EUR | Liabilities from forward exchange contracts | | | | -26'473 | -0.21% |
| EUR | Receivables from warrants | | | | 15'592 | 0.13% |
| TOTAL DERIVATIVES FINANCIAL INSTRUMENTS | | | | -1'891 | -0.02% |
| EUR | Current account balance | | | | 798'019 | 6.46% |
| EUR | Other assets | | | | 9'804 | 0.08% |
| TOTAL FUND ASSETS | | | | 12'412'248 | 100.53% |
| EUR | Receivables and liabilities | | | | -65'093 | -0.53% |
| NET FUND ASSETS | | | | 12'347'156 | 100.00% | | en | de |
DOLFIN3439 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
## French tax law can have an impact on the investor’s personal tax situation.
Edmond de Rothschild Asset Management (France) may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Sub-fund’s prospectus.
The shares of this Sub-fund are not and will not be registered in the United States under the Securities Act of 1933 or any other US regulation. The Sub-fund may either subscribe to units or shares of target funds likely to participate in initial public offerings of US securities (“US IPOs”) or participate directly in US IPOs. The Financial Industry Regulatory Authority (“FINRA”), in accordance with rules 5130 and 5131 of FINRA (the “Rules”), has decreed prohibitions regarding the eligibility of certain persons to participate in the allocation of US Initial Public Offerings when the effective beneficiary(ies) of such accounts are financial services professionals (including, among others, owners or employees of member firms of FINRA or fund managers) (“Restricted Persons”) or executive managers or directors of US or non-US companies that may do business with member firms of FINRA (“Covered Persons”). The Sub-fund may not be offered or sold for the benefit or on behalf of a “US Person”, as defined by “Regulation S”, or to investors considered Restricted Persons or Covered Persons in conformity with the FINRA Rules. Investors should seek advice from their legal advisor if there are any doubts about their status. | ## La legislación fiscal francesa puede afectar a la situación fiscal personal del inversor.
Edmond de Rothschild Asset Management (France) únicamente incurrirá en responsabilidad por las declaraciones contenidas en el presente documento que resulten engañosas, inexactas o incoherentes frente a las correspondientes partes del folleto del subfondo.
Las acciones de este subfondo no están ni estarán registradas en los Estados Unidos en virtud de la Ley estadounidense de valores de 1933 o de cualquier otra normativa de los Estados Unidos. El subfondo podrá invertir en participaciones o acciones de fondos objetivo que puedan participar en nuevas ofertas de emisión de títulos estadounidenses (oferta pública inicial estadounidense, en inglés “US IPO”) o participar directamente en las entradas en bolsa estadounidenses (“US IPO”). La Financial Industry Regulatory Authority (FINRA), de conformidad con las normas 5130 y 5131 de FINRA (las Normas), ha anunciado prohibiciones sobre la elegibilidad de ciertas personas para participar en la adjudicación de oferta pública inicial estadounidense cuando los beneficiarios efectivos de dichas cuentas sean profesionales del sector de los servicios financieros (incluyendo, entre otros, propietario o empleado de una sociedad miembro de FINRA o un gestor de fondos) (Personas restringidas) o ejecutivos de alto rango o administradores de una sociedad estadounidense o no estadounidense cuya actividad pueda estar relacionada con una sociedad miembro de FINRA (Personas afectadas). El subfondo no puede ser propuesto ni vendido en beneficio o por cuenta de una “Persona estadounidense”, según lo definido por la “Regulación S”, ni a los inversores considerados Personas restringidas o Personas afectadas por las Normas FINRA. En caso de duda sobre su situación, el inversor debe consultar a su asesor jurídico. | ## French tax law can have an impact on the investor’s personal tax situation.
Edmond de Rothschild Asset Management (France) may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Sub-fund’s prospectus.
The shares of this Sub-fund are not and will not be registered in the United States under the Securities Act of 1933 or any other US regulation. The Sub-fund may either subscribe to units or shares of target funds likely to participate in initial public offerings of US securities (“US IPOs”) or participate directly in US IPOs. The Financial Industry Regulatory Authority (“FINRA”), in accordance with rules 5130 and 5131 of FINRA (the “Rules”), has decreed prohibitions regarding the eligibility of certain persons to participate in the allocation of US Initial Public Offerings when the effective beneficiary(ies) of such accounts are financial services professionals (including, among others, owners or employees of member firms of FINRA or fund managers) (“Restricted Persons”) or executive managers or directors of US or non-US companies that may do business with member firms of FINRA (“Covered Persons”). The Sub-fund may not be offered or sold for the benefit or on behalf of a “US Person”, as defined by “Regulation S”, or to investors considered Restricted Persons or Covered Persons in conformity with the FINRA Rules. Investors should seek advice from their legal advisor if there are any doubts about their status. | en | es |
DOLFIN3440 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
###### Capital gains at investor level
Profits from the sale of units are generally subject to income or corporation tax and trade tax. When calculating the capital gain, the profit must be reduced by the advance lump sums employed during the ownership period. However, capital gains may remain partially tax-exempt (partial exemption) if the Fund meets the German Investment Tax Act requirements for an equity fund or a mixed fund. These requirements must also arise from the investment conditions. For the purposes of trade tax, the tax-exempt amounts are halved.
The profits from the sale of units are generally not subject to a capital gains tax deduction.
If there is a loss on the sale, the loss in the amount of the partial exemption to be applied at investor level cannot be deducted. | ###### Veräußerungsgewinne auf Anlegerebene
Gewinne aus der Veräußerung der Anteile unterliegen grundsätzlich der Einkommen- bzw. Körperschaftsteuer und der Gewerbesteuer. Bei der Ermittlung des Veräußerungsgewinns ist der Gewinn um die während der Besitzzeit angesetzten Vorabpauschalen zu mindern. Die Veräußerungsgewinne können jedoch teilweise steuerfrei bleiben (sog. Teilfreistellung), wenn der Fonds die Voraussetzungen des Investmentsteuergesetzes für einen Aktienfonds oder für einen Mischfonds erfüllt. Diese Voraussetzungen müssen sich auch aus den Anlagebedingungen ergeben. Für Zwecke der Gewerbesteuer halbieren sich die steuerfreien Beträge.
Die Gewinne aus der Veräußerung der Anteile unterliegen i.d.R. keinem Kapitalertragsteuerabzug.
Im Falle eines Veräußerungsverlustes ist der Verlust in Höhe der jeweils anzuwendenden Teilfreistellung auf Anlegerebene nicht abzugsfähig. | ###### Capital gains at investor level
Profits from the sale of units are generally subject to income or corporation tax and trade tax. When calculating the capital gain, the profit must be reduced by the advance lump sums employed during the ownership period. However, capital gains may remain partially tax-exempt (partial exemption) if the Fund meets the German Investment Tax Act requirements for an equity fund or a mixed fund. These requirements must also arise from the investment conditions. For the purposes of trade tax, the tax-exempt amounts are halved.
The profits from the sale of units are generally not subject to a capital gains tax deduction.
If there is a loss on the sale, the loss in the amount of the partial exemption to be applied at investor level cannot be deducted. | en | de |
DOLFIN3441 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
This assessment will investigate what share of the investee company’s revenues derive from activities positively contributing to one or more SDGs, while at the same time checking whether the investee company also operates any business lines potentially conflicting with the SDGs. Only companies that derive at least 20% of the enterprise value (or sales, EBIT or EBITDA) from activities that contribute positively towards one or more of the SDGs will be eligible. The Fund will undertake this assessment through the use of SDG revenue alignment data covering approximately 18,000 companies, from an established ESG third party data provider complemented by the Manager’s internal research based on public information and
dialogue with the relevant company. In case any company deemed of interest is not covered by third party data, an internal assessment will be conducted to establish the degree of revenue alignment with the SDGs, based on public information and dialogue with the relevant company.
- Environmental ConsciousnessThe Manager will scrutinize the environmental impact of the investee companies’ operations and products, to verify that these are compatible with not overshooting environmental boundaries. This analysis will be underpinned by a collection of the environmental key performance indicators (KPIs) at investee company level. These KPIs will be used to construct an index of environmental performance, which the Manager will use to rate the sustainability of companies’ operations.
- Broader ESG Best-In-Class ScreeningThe Manager will also perform a broader ESG due diligence to establish the degree to which ESG factors are integrated in the prospective investees’ business operations, managerial practices, and organizational developments. For each sector that it invests in, the Fund aims at keeping the average ESG score of companies selected as part of the portfolio above the respective average score of the sectors where the investees operate. Companies whose global ESG score falls in the bottom 15% of the relative sector’s ESG scores distribution will be excluded from the investment universe (ESG Best-in-Class). | Tale valutazione consentirà di accertare la quota dei ricavi della società partecipata derivante da attività che contribuiscono positivamente a uno o più SDG verificando, allo stesso tempo, se la società partecipata gestisce anche linee di business potenzialmente in conflitto con gli SDG. Soltanto le società il cui valore d’impresa (o fatturato, EBIT o EBITDA) deriva almeno per il 20% da attività che contribuiscono positivamente al raggiungimento di uno o più SDG risulteranno idonee. Il Fondo effettuerà la valutazione utilizzando i dati sull’allineamento dei
ricavi agli SDG di circa 18.000 società forniti da un fornitore di dati ESG esterno affermato, accompagnati dalla ricerca interna del Gestore, basata su informazioni di pubblico dominio e sul dialogo con la società in questione. In assenza di dati esterni su una società ritenuta interessante, viene effettuata una valutazione interna per stabilire il grado di allineamento dei ricavi agli SDG in base alle informazioni di pubblico dominio e al dialogo con la società in questione.
- Consapevolezza ambientaleIl Gestore analizzerà l’impatto ambientale delle attività e dei prodotti delle società partecipate per accertare che non superino i limiti ambientali. Tale analisi si baserà su una serie di indicatori di performance chiave (KPI) a livello di società partecipata. Tali KPI saranno utilizzati per costruire un indice di performance ambientale, che sarà utilizzata dal Gestore per valutare la sostenibilità delle attività delle società.
- Screening best-in-class più ampioInoltre, il Gestore eseguirà una due diligence ESG più ampia per stabilire il grado di integrazione dei fattori ESG nelle attività operative, pratiche gestionali e sviluppi organizzativi delle potenziali società partecipate. In relazione a ciascun settore in cui investe, il Fondo mira a mantenere un punteggio ESG medio delle società in portafoglio superiore al rispettivo punteggio medio dei settori in cui le società partecipate operano. Le società il cui punteggio ESG globale si colloca nel peggior 15% della distribuzione dei punteggi ESG del settore di riferimento saranno escluse dall’universo di investimento (Best-in-class ESG). | This assessment will investigate what share of the investee company’s revenues derive from activities positively contributing to one or more SDGs, while at the same time checking whether the investee company also operates any business lines potentially conflicting with the SDGs. Only companies that derive at least 20% of the enterprise value (or sales, EBIT or EBITDA) from activities that contribute positively towards one or more of the SDGs will be eligible. The Fund will undertake this assessment through the use of SDG revenue alignment data covering approximately 18,000 companies, from an established ESG third party data provider complemented by the Manager’s internal research based on public information and
dialogue with the relevant company. In case any company deemed of interest is not covered by third party data, an internal assessment will be conducted to establish the degree of revenue alignment with the SDGs, based on public information and dialogue with the relevant company.
- Environmental ConsciousnessThe Manager will scrutinize the environmental impact of the investee companies’ operations and products, to verify that these are compatible with not overshooting environmental boundaries. This analysis will be underpinned by a collection of the environmental key performance indicators (KPIs) at investee company level. These KPIs will be used to construct an index of environmental performance, which the Manager will use to rate the sustainability of companies’ operations.
- Broader ESG Best-In-Class ScreeningThe Manager will also perform a broader ESG due diligence to establish the degree to which ESG factors are integrated in the prospective investees’ business operations, managerial practices, and organizational developments. For each sector that it invests in, the Fund aims at keeping the average ESG score of companies selected as part of the portfolio above the respective average score of the sectors where the investees operate. Companies whose global ESG score falls in the bottom 15% of the relative sector’s ESG scores distribution will be excluded from the investment universe (ESG Best-in-Class). | en | it |
DOLFIN3442 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| Example Investment 10,000 GBP | if you exit after 1 year | if you exit after 5 years (recommended holding period) |
| --- | --- | --- |
| Total Costs | 104 GBP | 674 GBP |
| Annual cost impact* | 1.0% | 1.1% | | | Ejemplo de inversión 10.000 GBP | En caso de salida después de 1 año | En caso de salida después de 5 años (período de mantenimiento recomendado) |
| --- | --- | --- |
| Costes totales | 104 GBP | 674 GBP |
| Incidencia anual de los costes* | 1,0% | 1,1% | | | Example Investment 10,000 GBP | if you exit after 1 year | if you exit after 5 years (recommended holding period) |
| --- | --- | --- |
| Total Costs | 104 GBP | 674 GBP |
| Annual cost impact* | 1.0% | 1.1% | | en | es |
DOLFIN3443 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# This type of scenario occurred for an investment composite benchmark between 12/2021-01/2024.
Unfavourable scenario
What you might get back after costs
Average return each year
EUR 8,651
-13.5%
EUR 10,340
0.7% | # Este tipo de escenario se produjo para una inversión índice de referencia compuesto entre 12/2021-01/2024.
Escenario desfavorable
Lo que podría recibir una vez deducidos los costes
Rendimiento promedio cada año
8 651 EUR
-13,5%
10 340 EUR
0,7% | # This type of scenario occurred for an investment composite benchmark between 12/2021-01/2024.
Unfavourable scenario
What you might get back after costs
Average return each year
EUR 8,651
-13.5%
EUR 10,340
0.7% | en | es |
DOLFIN3444 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Objectives and Investment Policy
The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Funds’ investments, which reflects the return of the Markit iBoxx USD Liquid High Yield Capped Index, the Fund’s benchmark index (Index).
The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in fixed income (FI) securities (such as bonds) that make up the Index and comply with its credit rating requirements.
The Index measures the performance of the most liquid US dollar-denominated sub-investment grade bonds issued by companies in developed markets (i.e. the US Dollar high yield corporate bond market). Liquid bonds mean that they can easily be bought or sold in the market in normal market conditions. The bonds will be sub- investment grade (which means that at the time of inclusion in the Index, they have a relatively low credit rating credit or are unrated but deemed to be of comparable quality with sub-investment grade FI securities) and rated by at least one of three rating services: Moody’s, Standard & Poor’s or Fitch. The individual companies in the Index are weighted according to their market capitalisation (i.e. the share price of the company multiplied by the number of shares issued). The maximum original time to maturity is 15 years and the minimum time to maturity is one and a half years for new bonds to be included and one year for bonds that already exist in the Index.
The Fund uses optimising techniques to achieve a similar return to its Index. These may include the strategic selection of certain securities that make up the Index or other FI securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The use of FDIs is expected to be limited for this Share Class.
The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund.
Recommendation: This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index. Your shares will be accumulating shares (i.e. income will be included in their value).
Your shares will be denominated in US Dollar, the Fund's base currency.
The shares are listed on one or more stock exchanges and may be traded in currencies other than their base currency. The performance of your shares may be affected by this currency difference. In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange (s) on which the shares are traded.
For more information on the Fund, Share Class, risks and charges, please see the Fund's prospectus, available on the product pages at www.blackrock.com | # Objetivos y política de inversión
La Clase de acciones es una clase de acciones de un Fondo que tiene por objetivo alcanzar una rentabilidad en su inversión, a través de una combinación de revalorización del capital y rendimientos de los activos del Fondo, que refleje la rentabilidad del Markit iBoxx USD Liquid High Yield Capped Index, el índice de referencia del Fondo (el Índice).
La Clase de Acciones, a través del Fondo, se gestiona de manera pasiva y trata de invertir, en la medida de lo posible y factible, en los valores de renta fija (RF) (como bonos) que componen el Índice y cumplen sus requisitos de calificación de solvencia.
El Índice mide el rendimiento de los bonos más líquidos denominados en dólares estadounidenses, con categoría inferior a la de inversión, emitidos por empresas de los mercados desarrollados (es decir, el mercado de bonos empresariales de alto rendimiento en dólares estadounidenses). Se entiende por liquidez de los bonos que puedan comprarse y venderse fácilmente en el mercado, en condiciones normales de este. Los bonos tendrán la calificación inferior a la categoría de inversión, lo que significa que en el momento de su inclusión en el Índice tendrán una calificación de solvencia relativamente baja, o carecerán de calificación pero se considerarán de calidad comparable a la de los valores de RF con calificación inferior a la categoría de inversión, y estarán calificados por al menos uno de los tres servicios de calificación: Moody’s, Standard & Poor’s o Fitch. Las empresas que componen el Índice se ponderan de acuerdo con su capitalización bursátil (es decir, el precio por acción de la empresa multiplicado por el número de acciones emitidas). El plazo de vencimiento original máximo es de 15 años y el plazo de vencimiento residual mínimo es de un año y medio para los nuevos bonos que se incluyan y de un año para los que ya están incluidos en el Índice.
El Fondo utiliza técnicas de optimización para lograr una rentabilidad similar a su Índice. Estas pueden incluir la selección estratégica de ciertos valores que componen el Índice, u otros valores de RF que proporcionan una rentabilidad similar a la de ciertos valores que lo componen. También pueden incluir estas el uso de instrumentos financieros derivados (IFD) (es decir, inversiones cuyos precios se basan en uno o más activos subyacentes). Los IFD pueden utilizarse con fines de inversión directa. Para esa clase de acciones, está previsto que la utilización de IFD sea limitada.
El Fondo podrá también contratar, con determinados terceros elegibles, préstamos a corto plazo garantizados de sus inversiones, para generar ingresos adicionales que compensen los costes del Fondo.
Recomendación: este Fondo es adecuado para inversiones a medio y a largo plazo, aunque el Fondo también puede ser conveniente para obtener una exposición al Índice a más corto plazo.
Sus acciones serán acumulativas (es decir, los rendimientos se incorporarán a su valor).
Sus acciones estarán denominadas en dólares estadounidenses, la moneda base del Fondo.
Las acciones cotizan en uno o más mercados de valores y pueden negociarse en divisas distintas de su moneda de cuenta. La rentabilidad de sus acciones podría verse afectada por esta diferencia de divisas. En circunstancias normales, solo los participantes autorizados (como entidades financieras seleccionadas) pueden operar con acciones (o intereses en acciones) directamente con el Fondo. El resto de inversores puede operar con acciones (o intereses en acciones) diariamente a través de un intermediario de los mercados bursátiles donde se negocien las acciones.
Para más información sobre el Fondo, la Clase de acciones, los riesgos y los gastos, consúltese el folleto del Fondo, disponible en las páginas de productos de www.blackrock.com. | # Objectives and Investment Policy
The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Funds’ investments, which reflects the return of the Markit iBoxx USD Liquid High Yield Capped Index, the Fund’s benchmark index (Index).
The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in fixed income (FI) securities (such as bonds) that make up the Index and comply with its credit rating requirements.
The Index measures the performance of the most liquid US dollar-denominated sub-investment grade bonds issued by companies in developed markets (i.e. the US Dollar high yield corporate bond market). Liquid bonds mean that they can easily be bought or sold in the market in normal market conditions. The bonds will be sub- investment grade (which means that at the time of inclusion in the Index, they have a relatively low credit rating credit or are unrated but deemed to be of comparable quality with sub-investment grade FI securities) and rated by at least one of three rating services: Moody’s, Standard & Poor’s or Fitch. The individual companies in the Index are weighted according to their market capitalisation (i.e. the share price of the company multiplied by the number of shares issued). The maximum original time to maturity is 15 years and the minimum time to maturity is one and a half years for new bonds to be included and one year for bonds that already exist in the Index.
The Fund uses optimising techniques to achieve a similar return to its Index. These may include the strategic selection of certain securities that make up the Index or other FI securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The use of FDIs is expected to be limited for this Share Class.
The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund.
Recommendation: This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index. Your shares will be accumulating shares (i.e. income will be included in their value).
Your shares will be denominated in US Dollar, the Fund's base currency.
The shares are listed on one or more stock exchanges and may be traded in currencies other than their base currency. The performance of your shares may be affected by this currency difference. In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange (s) on which the shares are traded.
For more information on the Fund, Share Class, risks and charges, please see the Fund's prospectus, available on the product pages at www.blackrock.com | en | es |
DOLFIN3445 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| Northern Trust Fiduciary Services (Ireland) Limited is the depositary of the Fund. Additional information relating to the Fund and its share classes, including copies of the prospectus and latest annual and semi-annual report and accounts, which are prepared for the entire UCITS umbrella, can be obtained in English from the administrator at: Northern Trust International Fund Administration Services (Ireland) Limited, George’s Court, 54-62 Townsend Street, Dublin 2, Ireland, facsimile +353 1 542 2902, e-mail: [email protected], phone +353 1 434 5110. The latest unit prices and further practical information about the Fund are available at www.colchesterglobal.com. Irish tax legislation may have an impact on the tax position of an investor. Potential investors are advised to seek professional advice concerning possible taxation or other consequences of an investment in the shares. | You may switch your shares in the Fund to shares in another class and/or another sub-fund in which you are eligible to invest. Further information is available from the administrator at Northern Trust International Fund Administration Services (Ireland) Limited. The Manager may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund. The Fund is a sub-fund of The Colchester Multi-Strategy Global Bond Fund plc which is an umbrella fund with segregated liability between sub-funds. This means that the assets and liabilities of each sub-fund are segregated by law. The details of the current remuneration policy of the Manager, including a description of how remuneration and benefits are calculated and the identity of the persons responsible for awarding them, are available at www.colchesterglobal.com. A paper copy of the information is available free of charge upon request. |
| --- | --- |
| This Fund is a UCITS authorised in Ireland and regulated by the Central Bank of Ireland. The Manager is authorised in Ireland and regulated by the Central Bank of Ireland. |
| This key investor information is accurate as at 17/11/2022. | | |
| The Colchester Global Bond Fund, Share Class: EUR Unhedged Accumulation Class - I Shares, Key Investor Information, ISIN: IE00BJLJZM56, As of: 17/11/2022 | 2 | | | Northern Trust Fiduciary Services (Ireland) Limited es el depositario del Fondo. Puede solicitarse información adicional relativa al Fondo y sus Clases de Acciones, incluyendo copias del folleto y de los últimos informes anual y semestral y las cuentas, preparados para todo el paraguas OICVM, en inglés, al administrador en: Northern Trust International Fund Administration Services (Ireland) Limited, George’s Court, 54-62 Townsend Street, Dublín 2, Irlanda, fax +353 1 542 2902, correo electrónico: [email protected], teléfono +353 1 434 5110. Los últimos precios de las participaciones y otra información práctica del Fondo están disponibles en www.colchesterglobal.com. La legislación tributaria irlandesa puede incidir en la situación tributaria de un inversor. Se recomienda a los potenciales inversores que busquen asesoramiento profesional sobre las posibles consecuencias tributarias o de otro tipo de la inversión en las acciones. | Usted podrá convertir sus acciones en el Fondo por acciones de otra clase o de otro compartimento, en el que sea apto para invertir. Se puede obtener más información del administrador en Northern Trust International Fund Administration Services (Ireland) Limited. La Gestora únicamente incurrirá en responsabilidad por las declaraciones contenidas en el presente documento que resulten engañosas, inexactas o incoherentes frente a las correspondientes partes del folleto del Fondo. El Fondo es un compartimento de The Colchester Multi-Strategy Global Bond Fund plc que es fondo de tipo paraguas con responsabilidad segregada entre sus compartimentos. Eso significa que los activos y pasivos de cada compartimento están segregados por ley. Los detalles de la política de remuneración actualizada de la Gestora, incluyendo una descripción de cómo se calculan la remuneración y las prestaciones, y la identidad de las personas responsables de otorgarlas, están disponibles en www.colchesterglobal.com. Puede solicitar una copia en papel de la información de forma gratuita. |
| --- | --- |
| Este Fondo es un OICVM autorizado en Irlanda y regulado por Central Bank of Ireland. La Gestora está autorizada en Irlanda y regulada por el Central Bank of Ireland. |
| Los presentes datos fundamentales para el inversor son exactos a 17/11/2022. | | |
| The Colchester Global Bond Fund, Clase de Acciones: EUR Unhedged Accumulation Class - I Shares, Datos fundamentales para el inversor, ISIN: IE00BJLJZM56, A: 17/11/2022 | 2 | | | Northern Trust Fiduciary Services (Ireland) Limited is the depositary of the Fund. Additional information relating to the Fund and its share classes, including copies of the prospectus and latest annual and semi-annual report and accounts, which are prepared for the entire UCITS umbrella, can be obtained in English from the administrator at: Northern Trust International Fund Administration Services (Ireland) Limited, George’s Court, 54-62 Townsend Street, Dublin 2, Ireland, facsimile +353 1 542 2902, e-mail: [email protected], phone +353 1 434 5110. The latest unit prices and further practical information about the Fund are available at www.colchesterglobal.com. Irish tax legislation may have an impact on the tax position of an investor. Potential investors are advised to seek professional advice concerning possible taxation or other consequences of an investment in the shares. | You may switch your shares in the Fund to shares in another class and/or another sub-fund in which you are eligible to invest. Further information is available from the administrator at Northern Trust International Fund Administration Services (Ireland) Limited. The Manager may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund. The Fund is a sub-fund of The Colchester Multi-Strategy Global Bond Fund plc which is an umbrella fund with segregated liability between sub-funds. This means that the assets and liabilities of each sub-fund are segregated by law. The details of the current remuneration policy of the Manager, including a description of how remuneration and benefits are calculated and the identity of the persons responsible for awarding them, are available at www.colchesterglobal.com. A paper copy of the information is available free of charge upon request. |
| --- | --- |
| This Fund is a UCITS authorised in Ireland and regulated by the Central Bank of Ireland. The Manager is authorised in Ireland and regulated by the Central Bank of Ireland. |
| This key investor information is accurate as at 17/11/2022. | | |
| The Colchester Global Bond Fund, Share Class: EUR Unhedged Accumulation Class - I Shares, Key Investor Information, ISIN: IE00BJLJZM56, As of: 17/11/2022 | 2 | | en | es |
DOLFIN3446 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
### The following sub-fund is categorized as Article 8: “Global Bond Portfolio 2025” and “Global Floating Rate Portfolio 2025”
- Other sub-funds not categorized under Article 8 or Article 9
- ,
- which represents all the sub-funds of the Company not listed above. | ### Les compartiments suivants sont classés comme relevant de l’Article 8 : « Global Bond Portfolio 2025 » et « Global Floating Rate Portfolio 2025 ».
- Les autres compartiments non classés dans les catégories Article 8 ou Article 9
- ,
- qui représentent tous les compartiments de la Société non énumérés ci-dessus. | ### The following sub-fund is categorized as Article 8: “Global Bond Portfolio 2025” and “Global Floating Rate Portfolio 2025”
- Other sub-funds not categorized under Article 8 or Article 9
- ,
- which represents all the sub-funds of the Company not listed above. | en | fr |
DOLFIN3447 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Période de détention recommandée: | 3 ans |
| --- | --- |
| Exemple d'investissement: | 10,000 EUR |
| | Si vous sortez après 1 an | Si vous sortez après 3 ans |
| Scénarios |
| Minimum | Il n'existe aucun rendement minimum garanti. Vous pourriez perdre tout ou partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | 5,490 EUR | 6,360 EUR |
| Rendement annuel moyen | -45.10% | -14.00% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | 8,540 EUR | 8,490 EUR |
| Rendement annuel moyen | -14.60% | -5.31% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 9,870 EUR | 9,960 EUR |
| Rendement annuel moyen | -1.30% | -0.13% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | 11,600 EUR | 12,240 EUR |
| Rendement annuel moyen | 16.00% | 6.97% | | | Periodo de mantenimiento recomendado: | 3 años |
| --- | --- |
| Ejemplo de inversión: | 10,000 EUR |
| | En caso de salida después de 1 año | En caso de salida después de 3 años |
| Escenarios |
| Mínimo | No hay un rendimiento mínimo garantizado. Podría usted perder una parte o la totalidad de tu inversión. |
| Tensión | Lo que podría recibir tras deducir los costes | 5,490 EUR | 6,360 EUR |
| Rendimiento medio cada año | -45.10% | -14.00% |
| Desfavorable | Lo que podría recibir tras deducir los costes | 8,540 EUR | 8,490 EUR |
| Rendimiento medio cada año | -14.60% | -5.31% |
| Moderado | Lo que podría recibir tras deducir los costes | 9,870 EUR | 9,960 EUR |
| Rendimiento medio cada año | -1.30% | -0.13% |
| Favorable | Lo que podría recibir tras deducir los costes | 11,600 EUR | 12,240 EUR |
| Rendimiento medio cada año | 16.00% | 6.97% | | | Période de détention recommandée: | 3 ans |
| --- | --- |
| Exemple d'investissement: | 10,000 EUR |
| | Si vous sortez après 1 an | Si vous sortez après 3 ans |
| Scénarios |
| Minimum | Il n'existe aucun rendement minimum garanti. Vous pourriez perdre tout ou partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | 5,490 EUR | 6,360 EUR |
| Rendement annuel moyen | -45.10% | -14.00% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | 8,540 EUR | 8,490 EUR |
| Rendement annuel moyen | -14.60% | -5.31% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 9,870 EUR | 9,960 EUR |
| Rendement annuel moyen | -1.30% | -0.13% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | 11,600 EUR | 12,240 EUR |
| Rendement annuel moyen | 16.00% | 6.97% | | fr | es |
DOLFIN3448 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Identity of the counterparty/counterparties to efficient portfolio management techniques and derivatives
| Efficient management techniques | Derivatives (*) |
| --- | --- |
| | |
(*) Except listed derivatives.
- | # Identität der Gegenpartei(en) von Techniken zur effizienten Portfolioverwaltung und Derivaten
| Techniken zur effizienten Verwaltung | Derivate (*) |
| --- | --- |
| | |
(*) ohne börsennotierte Derivate
- | # Identity of the counterparty/counterparties to efficient portfolio management techniques and derivatives
| Efficient management techniques | Derivatives (*) |
| --- | --- |
| | |
(*) Except listed derivatives.
- | en | de |
DOLFIN3449 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Meetings of and Reports to Shareholders
The Company does not hold Annual General Meetings. Other meetings, whether general or otherwise, may be called.
Rules for the calling and conduct of meetings of Shareholders are contained in Chapter 4 of the FCA Rules and in the Instrument of Incorporation. The ACD may convene a general meeting of the Company at any time on not less than twenty one days’ notice. Holders representing not less than one-tenth in value of all Shares in the Company then in issue may requisition a general meeting. The quorum at a meeting of Shareholders shall be two Shareholders, present in person or by proxy or, in the case of a corporation, by a duly authorised representative. The quorum for an adjourned meeting is one Shareholder, present in person or by proxy.
In certain circumstances, the FCA Rules require that a resolution is passed as an extraordinary resolution (which is a resolution passed by a majority of not less than three-quarters of the votes validly cast (whether on a show of hands or on a poll) for and against the resolution). In other cases, a resolution may be passed by a simple majority of the votes validly cast for and against the resolution. Where a resolution is to be passed by simple majority, in the case of an equality of, or an absence of votes cast, the Chairman is entitled to a casting vote. Where a resolution (including an extraordinary resolution) is required to conduct business at a meeting of Shareholders, and every Shareholder is prohibited from voting under COLL 4.4.8R (4) (which states that no director of an ICVC can be counted in the quorum of, and no such director or an associate may vote at, any meeting of the authorised fund), it shall not be necessary to convene such a meeting and a resolution may, with the prior written agreement of the Depositary to the process, instead be passed with the written consent of Shareholders representing 50% or more, or for an extraordinary resolution 75% or more, of the Shares in the Fund in issue.
A resolution put to the vote of a general meeting shall be determined on a show of hands unless a poll is demanded by the chairman, at least two Shareholders or the Depositary. On a show of hands, every Shareholder who, being an individual, is present in person or, being a corporation, is present by its representative, has one vote. On a poll, every Shareholder has the voting rights which attached to his Shares seven days before the notice of the relevant meeting was deemed to be given. The voting rights of any Share are such proportion of the voting rights attached to all of the Shares in issue as the price of the Share in question bears to the aggregate price of all Shares in issue at the relevant date. In effect, voting rights are related to the value of Shares held. A Shareholder entitled to more than one vote need not, if he votes, use all his votes or cast all his votes in the same way.
Votes at general meetings shall be conducted by a poll.
A Shareholder entitled to attend and vote at a meeting of the Company is entitled to appoint another person to attend and vote in his place (whether a Shareholder or not). A Shareholder shall be entitled to appoint more than one proxy to attend on the same occasion but a proxy shall be entitled to vote only on a poll. An instrument appointing a proxy must be received by the Company no later than 48 hours before the meeting in order that the appointment be effective.
A corporation being a Shareholder may authorise such person as it thinks fit to act as its representative at any meeting of holders and the person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he represents as the corporation could exercise if it were an individual Shareholder.
In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders and for this purpose, seniority shall be determined by the order in which the names stand in the Register.
The ACD and its associates may hold Shares in the Company and shall be entitled to receive notice of and attend any meeting. The ACD shall not be entitled to be counted in the quorum (but its associates may be so counted) and, except as provided below, the ACD’s Shares are not regarded as being in issue in relation to the meeting. Neither the ACD nor its associates are entitled to vote at a meeting. None of these limitations apply if the ACD or the associate holds Shares on behalf of or jointly with a person who, if himself the registered holder, would be entitled to vote and from whom the ACD or its associate (as the case may be) has received voting instructions.
The record date for a meeting is the date seven days before the notice of the relevant meeting is deemed to have been given, but persons known not to be holders at the time of the meeting are excluded.
Certain material changes to the Prospectus and Instrument of Incorporation require the prior approval of Shareholders.
The above provisions, unless the context requires otherwise, apply to Class meetings and general meetings of each Fund as they apply to general meetings of the Company, but by reference to the Shares of the Class or Fund concerned and the holders and prices of such Shares or Fund.
Report and Financial Statements
The Company will prepare reports and accounts in relation to each annual and half-yearly accounting period. Annual reports will be published within four months after the end of each annual accounting period and half-yearly accounts within two months after the end of each half-yearly accounting period. Accounts for each Fund shall show all Classes of Share in that Fund.
Copies of the reports will be hosted on the website at www.barings,com and will be available for inspection by the general public at the offices of the ACD. | # Assemblées et Rapports aux Actionnaires
La Société ne convoque pas d’Assemblées Générales Annuelles. D’autres assemblées, générales ou autres, peuvent être convoquées.
Les règles de convocation et d’organisation des assemblées des Actionnaires sont définies au chapitre 4 des Règles de la FCA, ainsi que dans l’Acte Constitutif. L’ACD peut convoquer une assemblée générale de la Société à tout moment en signifiant un préavis minimum de vingt-et-un jours. Les détenteurs de parts représentant au moins un dixième de la valeur de toutes les Actions de la Société alors en circulation peuvent convoquer une assemblée générale. Le quorum d’une assemblée des Actionnaires est fixé à deux Actionnaires, présents en personne ou par procuration ou, s’il s’agit d’une personne morale, par l’intermédiaire d’un représentant agréé. Le quorum d’une assemblée reportée est fixé à un Actionnaire, présent en personne ou par procuration.
Dans certains cas, les Règles de la FCA disposent d’adopter une résolution en tant que résolution extraordinaire, c’est- à-dire une résolution adoptée par une majorité d’au moins trois quarts des votes valides (à main levée ou par scrutin) en faveur ou contre la résolution. Dans d’autres cas, une résolution peut être adoptée par une majorité simple des votes valides en faveur ou contre la résolution. Si une résolution est adoptée par une majorité simple, en cas d’égalité des voix ou en l’absence de tout vote, le président dispose d’une voix prépondérante. Si une résolution (y compris une résolution extraordinaire) est requise pour traiter des points de l’ordre du jour d’une assemblée des Actionnaires et si tous les Actionnaires sont interdits de vote en vertu de l’article 4.4.8R (4) du COLL (qui stipule qu’aucun administrateur de SICAV ne peut être inclus dans le quorum d’une assemblée de fonds agréé et qu’aucun administrateur ou associé ne peut voter lors de cette assemblée), il peut ne pas être nécessaire de convoquer une assemblée et la résolution peut, sur approbation écrite préalable du Dépositaire, être adoptée avec l’approbation écrite d’Actionnaires représentant au moins 50 % (résolution ordinaire) ou au moins 75 % (résolution extraordinaire) des Actions du Compartiment en circulation.
Toute résolution soumise au vote des Actionnaires lors d’une assemblée générale est déterminée à main levée, sauf si un scrutin est requis par le président, par au moins deux Actionnaires ou par le Dépositaire. Lors d’un vote à main levée, chaque Actionnaire présent en personne s’il s’agit d’un particulier ou par le biais d’un représentant s’il s’agit d’une société, dispose d’une voix. Lors d’un scrutin, chaque Actionnaire dispose des droits de vote conférés par ses Actions sept jours avant la date à laquelle l’avis de convocation à l’assemblée est réputé envoyé. Les droits de vote inhérents à une Action sont proportionnels aux droits de vote inhérents à toutes les Actions en circulation, à hauteur de la proportion du prix de cette Action par rapport au prix total de toutes les Actions en circulation à la date concernée. De fait, les droits de vote sont liés à la valeur des Actions détenues. Les Actionnaires disposant de plus d’une voix ne sont pas tenus, s’ils votent, d’utiliser toutes leurs voix ou de les utiliser au même effet.
Les votes aux assemblées générales seront conduits au moyen d’un scrutin.
Tout Actionnaire autorisé à assister à une assemblée de la Société et à y voter peut nommer une autre personne pour assister à l’assemblée et y voter en son nom (que cette personne soit un Actionnaire ou non). Les Actionnaires peuvent établir plus d’une procuration pour la même assemblée, mais chaque mandataire ne peut voter qu’une seule fois lors d’un scrutin. Les formulaires de procuration doivent être reçus par la Société au moins 48 heures avant l’assemblée afin d’être valides.
Toute société Actionnaire peut nommer la personne qu’elle juge appropriée pour la représenter lors d’une assemblée des Actionnaires et la personne ainsi nommée peut exercer les mêmes pouvoirs pour le compte de la société qu’elle représente que ceux que la société exercerait si elle était un Actionnaire particulier.
S’il existe plusieurs co-détenteurs de parts, le vote de la personne la plus haut placée dans le Registre est accepté à l’exclusion du vote des autres co-détenteurs de parts, que cette personne soit présente en personne ou par procuration.
L’ACD et ses associés peuvent détenir des Actions de la Société, sont autorisés à recevoir les avis de convocation des assemblées et peuvent assister à ces dernières. L’ACD ne peut pas être inclus dans le quorum (mais ses associés peuvent l’être) et, sauf stipulation contraire ci-dessous, les Actions de l’ACD ne sont pas considérées comme étant en circulation aux fins de l’assemblée. Ni l’ACD ni ses associés ne sont autorisés à voter lors des assemblées. Ces restrictions ne s’appliquent pas si l’ACD ou son associé détient les Actions pour le compte ou conjointement avec une personne qui, si elle était le détenteur inscrit au Registre, serait autorisée à voter, et de la part de laquelle l’ACD ou son associé (le cas échéant) a reçu des instructions de vote.
La date d’enregistrement de l’assemblée est la date tombant sept jours avant la date à laquelle l’avis de l’assemblée est réputé avoir été envoyé, mais les personnes dont on sait qu’elles ne seront pas des détenteurs de parts au moment de l’assemblée sont exclues.
Certaines modifications significatives du Prospectus et de l’Acte Constitutif requièrent l’approbation préalable des Actionnaires.
Les dispositions ci-dessus, sauf indication contraire par le contexte, s’appliquent aux assemblées des Classes d’Actions et aux assemblées générales de chacun des Compartiments, ainsi qu’aux assemblées générales de la Société, mais par référence aux Actions de la Classe ou du Compartiment et aux détenteurs de parts et aux prix des Actions ou du Compartiment.
Rapport et états financiers
La Société préparera un rapport et des comptes pour chaque exercice annuel et semestriel. Les rapports annuels sont publiés dans un délai de quatre mois suivant la fin de chaque exercice annuel. Les comptes semestriels sont publiés dans un délai de deux mois suivant la fin de chaque exercice semestriel. Les comptes de chacun des Compartiments présentent toutes les Classes d’Actions du Compartiment concerné.
Les rapports seront disponibles sur le site Internet www.barings,com et seront en libre consultation aux bureaux de l’ACD. | # Meetings of and Reports to Shareholders
The Company does not hold Annual General Meetings. Other meetings, whether general or otherwise, may be called.
Rules for the calling and conduct of meetings of Shareholders are contained in Chapter 4 of the FCA Rules and in the Instrument of Incorporation. The ACD may convene a general meeting of the Company at any time on not less than twenty one days’ notice. Holders representing not less than one-tenth in value of all Shares in the Company then in issue may requisition a general meeting. The quorum at a meeting of Shareholders shall be two Shareholders, present in person or by proxy or, in the case of a corporation, by a duly authorised representative. The quorum for an adjourned meeting is one Shareholder, present in person or by proxy.
In certain circumstances, the FCA Rules require that a resolution is passed as an extraordinary resolution (which is a resolution passed by a majority of not less than three-quarters of the votes validly cast (whether on a show of hands or on a poll) for and against the resolution). In other cases, a resolution may be passed by a simple majority of the votes validly cast for and against the resolution. Where a resolution is to be passed by simple majority, in the case of an equality of, or an absence of votes cast, the Chairman is entitled to a casting vote. Where a resolution (including an extraordinary resolution) is required to conduct business at a meeting of Shareholders, and every Shareholder is prohibited from voting under COLL 4.4.8R (4) (which states that no director of an ICVC can be counted in the quorum of, and no such director or an associate may vote at, any meeting of the authorised fund), it shall not be necessary to convene such a meeting and a resolution may, with the prior written agreement of the Depositary to the process, instead be passed with the written consent of Shareholders representing 50% or more, or for an extraordinary resolution 75% or more, of the Shares in the Fund in issue.
A resolution put to the vote of a general meeting shall be determined on a show of hands unless a poll is demanded by the chairman, at least two Shareholders or the Depositary. On a show of hands, every Shareholder who, being an individual, is present in person or, being a corporation, is present by its representative, has one vote. On a poll, every Shareholder has the voting rights which attached to his Shares seven days before the notice of the relevant meeting was deemed to be given. The voting rights of any Share are such proportion of the voting rights attached to all of the Shares in issue as the price of the Share in question bears to the aggregate price of all Shares in issue at the relevant date. In effect, voting rights are related to the value of Shares held. A Shareholder entitled to more than one vote need not, if he votes, use all his votes or cast all his votes in the same way.
Votes at general meetings shall be conducted by a poll.
A Shareholder entitled to attend and vote at a meeting of the Company is entitled to appoint another person to attend and vote in his place (whether a Shareholder or not). A Shareholder shall be entitled to appoint more than one proxy to attend on the same occasion but a proxy shall be entitled to vote only on a poll. An instrument appointing a proxy must be received by the Company no later than 48 hours before the meeting in order that the appointment be effective.
A corporation being a Shareholder may authorise such person as it thinks fit to act as its representative at any meeting of holders and the person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he represents as the corporation could exercise if it were an individual Shareholder.
In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders and for this purpose, seniority shall be determined by the order in which the names stand in the Register.
The ACD and its associates may hold Shares in the Company and shall be entitled to receive notice of and attend any meeting. The ACD shall not be entitled to be counted in the quorum (but its associates may be so counted) and, except as provided below, the ACD’s Shares are not regarded as being in issue in relation to the meeting. Neither the ACD nor its associates are entitled to vote at a meeting. None of these limitations apply if the ACD or the associate holds Shares on behalf of or jointly with a person who, if himself the registered holder, would be entitled to vote and from whom the ACD or its associate (as the case may be) has received voting instructions.
The record date for a meeting is the date seven days before the notice of the relevant meeting is deemed to have been given, but persons known not to be holders at the time of the meeting are excluded.
Certain material changes to the Prospectus and Instrument of Incorporation require the prior approval of Shareholders.
The above provisions, unless the context requires otherwise, apply to Class meetings and general meetings of each Fund as they apply to general meetings of the Company, but by reference to the Shares of the Class or Fund concerned and the holders and prices of such Shares or Fund.
Report and Financial Statements
The Company will prepare reports and accounts in relation to each annual and half-yearly accounting period. Annual reports will be published within four months after the end of each annual accounting period and half-yearly accounts within two months after the end of each half-yearly accounting period. Accounts for each Fund shall show all Classes of Share in that Fund.
Copies of the reports will be hosted on the website at www.barings,com and will be available for inspection by the general public at the offices of the ACD. | en | fr |
DOLFIN3450 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
| KEY INVESTOR INFORMATION DOCUMENT |
| --- |
| This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. |
| Candriam Long Short Credit, FCP |
| R2 units (capitalisation): FR0013254000 |
| Competent authority: French Financial Markets Authority Management company: Candriam France |
| INVESTMENT OBJECTIVES AND POLICY | | | INFORMAZIONI CHIAVE PER GLI INVESTITORI |
| --- |
| Il presente documento contiene le informazioni chiave di cui tutti gli investitori devono disporre in relazione a questo fondo. Non si tratta di un documento promozionale. Le informazioni contenute nel presente documento, richieste dalla legge, hanno lo scopo di aiutarvi a capire la natura di questo fondo e i rischi ad esso connessi. Si consiglia di prenderne visione per decidere con consapevolezza se procedere all’investimento. |
| Candriam Long Short Credit, FCI |
| Quote R2 - Capitalizzazione FR0013254000 |
| Autorità competente: Autorità dei Mercati Finanziari Società di Gestione: Candriam France |
| OBIETTIVI E POLITICA DI INVESTIMENTO | | | KEY INVESTOR INFORMATION DOCUMENT |
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| This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. |
| Candriam Long Short Credit, FCP |
| R2 units (capitalisation): FR0013254000 |
| Competent authority: French Financial Markets Authority Management company: Candriam France |
| INVESTMENT OBJECTIVES AND POLICY | | en | it |
DOLFIN3451 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
| One-off costs upon entry or exit | | If you exit after 3 year(s) |
| --- | --- | --- |
| Entry costs | This includes distribution costs of 5% of amount invested. This is the most you will be charged. The person selling you the product will inform you of the actual charge. | 500.00 EUR |
| Exit costs | This is the charge that may be taken from your investment when you choose to sell. We do not charge an exit fee for this product, but the person selling you the product may choose to do so. | 0.00 EUR |
| Ongoing costs taken each year |
| Management fees and other administrative or operating costs | 0.45% of the value of your investment per year. This is the ongoing charges incurred and includes the annual management charge and operating costs. | 45.00 EUR |
| Transaction costs | 0.12% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. | 12.29 EUR |
| Incidental costs taken under specific conditions |
| Performance fees and carried interests | No performance fee charged | | | | Costi una tantum di ingresso o di uscita | | In caso di uscita dopo 3 anni |
| --- | --- | --- |
| Costi di ingresso | Sono compresi i costi di distribuzione del 5% dell’importo investito. Questa è la cifra massima che può essere addebitata. La persona che vende il prodotto vi informerà del costo effettivo. | 500.00 EUR |
| Costi di uscita | Questa è la commissione che può essere prelevata dall'investimento nel caso in cui l'investitore decida di vendere. Non addebitiamo una commissione di uscita per questo prodotto ma la persona che vende il prodotto può farlo. | 0.00 EUR |
| Costi correnti registrati ogni anno |
| Commissioni di gestione e altri costi amministrativi o di esercizio | 0,45% del valore dell'investimento all'anno. Si tratta delle spese correnti sostenute e comprende la commissione di gestione annuale e i costi operativi. | 45.00 EUR |
| Costi di transazione | 0,12% del valore dell'investimento all'anno. Si tratta di una stima dei costi sostenuti per l’acquisto e la vendita degli investimenti sottostanti per il prodotto. L’importo effettivo varierà a seconda dell’importo che viene acquistato e venduto. | 12.29 EUR |
| Oneri accessori sostenuti in determinate condizioni |
| Commissioni di performance e carried interest | Non viene addebitata alcuna commissione di performance | | | | One-off costs upon entry or exit | | If you exit after 3 year(s) |
| --- | --- | --- |
| Entry costs | This includes distribution costs of 5% of amount invested. This is the most you will be charged. The person selling you the product will inform you of the actual charge. | 500.00 EUR |
| Exit costs | This is the charge that may be taken from your investment when you choose to sell. We do not charge an exit fee for this product, but the person selling you the product may choose to do so. | 0.00 EUR |
| Ongoing costs taken each year |
| Management fees and other administrative or operating costs | 0.45% of the value of your investment per year. This is the ongoing charges incurred and includes the annual management charge and operating costs. | 45.00 EUR |
| Transaction costs | 0.12% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. | 12.29 EUR |
| Incidental costs taken under specific conditions |
| Performance fees and carried interests | No performance fee charged | | | en | it |
DOLFIN3452 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Période de détention minimum recommandée : 4 Ans Exemple d’investissement: 10 000 EUR |
| --- |
| Scénarios | Si vous sortez après 1 An | Si vous sortez après 4 Ans (période de détention recommandée) |
| Minimum : | Il n’existe aucun rendement minimal garanti. Vous pourriez perdre tout ou une partie de votre investissement. |
| Scénario de tensions | Ce que vous pourriez obtenir après déduction des coûts | 6 130 EUR | 7 290 EUR |
| | Rendement annuel moyen | - 38,67 % | - 7,6 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 7 650 EUR | 7 290 EUR |
| | Rendement annuel moyen | - 23,45% | - 7,6% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 010 EUR | 10 260 EUR |
| | Rendement annuel moyen | 0,07% | 0,65% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 070 EUR | 11 300 EUR |
| | Rendement annuel moyen | 10,68% | 3,1% | | | Período de mantenimiento mínimo recomendado: 4 Años Ejemplo de inversión: 10 000 EUR |
| --- |
| Escenarios | En caso de salida después de 1 Año | En caso de salida después de 4 Años (período de mantenimiento recomendado) |
| Mínimo: | No hay un rendimiento mínimo garantizado. Podría perder parte o la totalidad de su inversión. |
| Escenario de tensión | Lo que puede recibir una vez deducidos los costes | 6 130 EUR | 7 290 EUR |
| | Rendimiento medio cada año | - 38,67 % | - 7,6 % |
| Escenario desfavorable | Lo que puede recibir una vez deducidos los costes | 7 650 EUR | 7 290 EUR |
| | Rendimiento medio cada año | - 23,45% | - 7,6% |
| Escenario moderado | Lo que puede recibir una vez deducidos los costes | 10 010 EUR | 10 260 EUR |
| | Rendimiento medio cada año | 0,07% | 0,65% |
| Escenario favorable | Lo que puede recibir una vez deducidos los costes | 11 070 EUR | 11 300 EUR |
| | Rendimiento medio cada año | 10,68% | 3,1% | | | Période de détention minimum recommandée : 4 Ans Exemple d’investissement: 10 000 EUR |
| --- |
| Scénarios | Si vous sortez après 1 An | Si vous sortez après 4 Ans (période de détention recommandée) |
| Minimum : | Il n’existe aucun rendement minimal garanti. Vous pourriez perdre tout ou une partie de votre investissement. |
| Scénario de tensions | Ce que vous pourriez obtenir après déduction des coûts | 6 130 EUR | 7 290 EUR |
| | Rendement annuel moyen | - 38,67 % | - 7,6 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 7 650 EUR | 7 290 EUR |
| | Rendement annuel moyen | - 23,45% | - 7,6% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 010 EUR | 10 260 EUR |
| | Rendement annuel moyen | 0,07% | 0,65% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 070 EUR | 11 300 EUR |
| | Rendement annuel moyen | 10,68% | 3,1% | | fr | es |
DOLFIN3453 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Comment puis-je formuler une réclamation?
Toute réclamation peut être adressée à [email protected] ou par courrier postal à l’adresse suivante : ELEVA Capital SAS, à l’attention de RCCI, 32 rue de Monceau, 75008 Paris. ELEVA Capital accusera réception de la réclamation dans un délai maximum de dix jours ouvrables à compter de la date de sa réception, à moins qu’une réponse n’ait été entretemps apportée au client. Sauf circonstances exceptionnelles dûment justifiées, une réponse sera donnée au client dans les deux mois suivant la réception de la réclamation. En cas de litige en cours, le client peut contacter le Médiateur de l’AMF à l’adresse suivante : Autorité des marchés financiers, Médiateur de l’AMF, 17 place de la Bourse, 75082 PARIS CEDEX 02. Le formulaire de demande de médiation de l’AMF et la Charte de médiation sont disponibles sur le site Internet de l’AMF. Si vous avez une réclamation concernant la personne qui vous a conseillé sur ce produit, ou qui vous l’a vendu, veuillez la contacter pour qu’elle suive son processus de réclamation. | # ¿Cómo puedo reclamar?
Si tiene alguna queja, puede remitir su reclamación a [email protected] o por correo ordinario a la siguiente dirección: ELEVA Capital SAS, a la atención de RCCI 32 rue de Monceau 75008 París ELEVA Capital, acusará recibo de la reclamación en un plazo máximo de diez días laborables desde la fecha en que se recibió, a menos que se haya emitido una respuesta al cliente en el periodo intermedio. Excepto en circunstancias excepcionales debidamente justificadas, se emitirá una respuesta al cliente en un plazo de dos meses desde la recepción de la reclamación. En caso de una disputa pendiente, el cliente puede ponerse en contacto con el servicio de mediación de la AMF en la siguiente dirección: Autorité des marchés financiers Médiateur de l’AMF 17 Place de la Bourse 75082 PARÍS CEDEX 02 El formulario de solicitud de mediación de la AMF y la Carta de Mediación están disponibles en el sitio web de la AMF. Si tiene alguna queja sobre la persona que le informó sobre este producto o que se lo vendió, póngase en contacto con ella para conocer su procedimiento de reclamación. | # Comment puis-je formuler une réclamation?
Toute réclamation peut être adressée à [email protected] ou par courrier postal à l’adresse suivante : ELEVA Capital SAS, à l’attention de RCCI, 32 rue de Monceau, 75008 Paris. ELEVA Capital accusera réception de la réclamation dans un délai maximum de dix jours ouvrables à compter de la date de sa réception, à moins qu’une réponse n’ait été entretemps apportée au client. Sauf circonstances exceptionnelles dûment justifiées, une réponse sera donnée au client dans les deux mois suivant la réception de la réclamation. En cas de litige en cours, le client peut contacter le Médiateur de l’AMF à l’adresse suivante : Autorité des marchés financiers, Médiateur de l’AMF, 17 place de la Bourse, 75082 PARIS CEDEX 02. Le formulaire de demande de médiation de l’AMF et la Charte de médiation sont disponibles sur le site Internet de l’AMF. Si vous avez une réclamation concernant la personne qui vous a conseillé sur ce produit, ou qui vous l’a vendu, veuillez la contacter pour qu’elle suive son processus de réclamation. | fr | es |
DOLFIN3454 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Si vous sortez après 1 an | Si vous sortez après 3 ans |
| --- | --- |
| Coûts totaux | €781 | €1297 |
| Incidence des coûts annuels (*) | 7.8% | 4.2% Chaque année | | | En caso de salida después de 1 año | En caso de salida después de 3 años |
| --- | --- |
| Costes totales | €781 | €1297 |
| Incidencia anual de los costes (*) | 7.8% | 4.2% cada año | | | Si vous sortez après 1 an | Si vous sortez après 3 ans |
| --- | --- |
| Coûts totaux | €781 | €1297 |
| Incidence des coûts annuels (*) | 7.8% | 4.2% Chaque année | | fr | es |
DOLFIN3455 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Non applicable.
La taxinomie de l’UE établit un principe consistant à « ne pas causer de préjudice important » en vertu duquel les investissements alignés sur la taxinomie ne devraient pas causer de préjudice important aux objectifs de la taxinomie de l’UE et qui s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les Critères de l’UE en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important aux objectifs environnementaux ou sociaux. | No aplicable.
La taxonomía de la UE establece el principio de «no causar un perjuicio significativo» según el cual las inversiones que se ajusten a la taxonomía no deben perjudicar significativamente los objetivos de la taxonomía de la UE, e incluye criterios específicos de la UE.
El principio de «no causar un perjuicio significativo» se aplica únicamente a las inversiones subyacentes del producto financiero que tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles. Las inversiones subyacentes al resto del producto financiero no tienen en cuenta los criterios de la UE para las actividades económicas medioambientalmente sostenibles.
Cualquier otra inversión sostenible tampoco debe perjudicar significativamente a ningún objetivo medioambiental o social. | Non applicable.
La taxinomie de l’UE établit un principe consistant à « ne pas causer de préjudice important » en vertu duquel les investissements alignés sur la taxinomie ne devraient pas causer de préjudice important aux objectifs de la taxinomie de l’UE et qui s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les Critères de l’UE en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’UE en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important aux objectifs environnementaux ou sociaux. | fr | es |
DOLFIN3456 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# ARTICLE 23 - PROSPECTUS
The board of directors or, where the Sicav has delegated full responsibility for management, the management company, has all necessary powers to make, as needed, any amendments to the prospectus to ensure the proper management of the company, pursuant to the legislative and regulatory provisions specific to Sicavs.
Title IV - Statutory auditors | # ARTÍCULO 23 - FOLLETO
El Consejo de Administración o la sociedad gestora siempre y cuando la Sicav haya delegado globalmente su gestión, tiene plenos poderes para introducir en los mismos, si procede, cualquier modificación destinada a garantizar la buena gestión de la sociedad, todo ello en el marco de las disposiciones legislativas y normativas aplicables a las Sicav.
TÍTULO IV - AUDITORES | # ARTICLE 23 - PROSPECTUS
The board of directors or, where the Sicav has delegated full responsibility for management, the management company, has all necessary powers to make, as needed, any amendments to the prospectus to ensure the proper management of the company, pursuant to the legislative and regulatory provisions specific to Sicavs.
Title IV - Statutory auditors | en | es |
DOLFIN3457 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The Sub-Fund will not actively invest in equities or bonds with attached warrants but may receive such kind of securities from a restructuring or other corporate action. Should this occur, the Investment Manager intends to sell such securities within 3 months taking into account the best interests of the investors.
The Investment Manager will use its discretion with regard to the selection of instruments, markets (including Emerging Markets), currencies and maturities.
In accordance with the applicable diversification rules, the Sub-Fund may hold up to one-third (1/3rd) of its net assets in Cash and Cash Equivalents (i) when the Investment Manager deems it appropriate for the implementation of the investment policy (such as investment in derivatives) or (ii) temporarily, in times of increasing volatility when, for instance, the Investment Manager deems the Sub-Fund should be positioned in a defensive way.
Subject always to the limits permitted by the Investment Restrictions described in Section 4 of the Prospectus, the Investment Manager is authorized to use financial derivative instruments (in particular, but not limited to credit (including CDS), interest rate (including IRS), and currency derivatives):
- for hedging purposes Yes
- for EPM Yes
- as part of the investment strategy YesThe attention of investors is drawn to the Risk Factors Annex in Annex B which sets out the risk factors applicable to the Sub-Fund. | Der Teilfonds investiert nicht aktiv in Aktien oder Anleihen mit beigefügten Warrants, kann solche Wertpapiere jedoch im Zuge einer Restrukturierung oder eines anderen Kapitalereignisses erhalten. In einem solchen Fall werden die Aktien oder Anleihen mit beigefügten Warrants innerhalb von drei Monaten und im besten Interesse der Anleger verkauft.
Die Wahl der Anlageinstrumente, Märkte (einschliesslich der Emerging Markets), Währungen und Laufzeiten liegt im freien Ermessen des Fondsmanagers.
Im Einklang mit den geltenden Diversifikationsvorschriften darf der Teilfonds bis zu einem Drittel (1/3) seines Nettovermögens in Zahlungsmittel und Zahlungsmitteläquivalente investieren, (i) wenn der Fondsmanager dies zur Umsetzung der Anlagepolitik (etwa Anlagen in Derivate) für angemessen erachtet oder (ii) er vorübergehend, in Perioden erhöhter Volatilität, beispielsweise der Meinung ist, dass der Teilfonds defensiv positioniert sein sollte.
Stets vorbehaltlich der in Kapitel 4 des Prospekts unter Anlagerestriktionen auferlegten Grenzen ist der Fondsmanager berechtigt, Finanzderivate, darunter namentlich Kreditderivate (einschliesslich CDS), Zinsderivate (einschliesslich IRS) und Devisenderivate, einzusetzen:
- zu Absicherungszwecken Ja
- zu EPM-Zwecken Ja
- als Teil der Anlagestrategie JaDie Anleger werden auf den Anhang zu den Risikofaktoren in Anhang B hingewiesen, in dem die Risikofaktoren des Teilfonds aufgeführt sind. | The Sub-Fund will not actively invest in equities or bonds with attached warrants but may receive such kind of securities from a restructuring or other corporate action. Should this occur, the Investment Manager intends to sell such securities within 3 months taking into account the best interests of the investors.
The Investment Manager will use its discretion with regard to the selection of instruments, markets (including Emerging Markets), currencies and maturities.
In accordance with the applicable diversification rules, the Sub-Fund may hold up to one-third (1/3rd) of its net assets in Cash and Cash Equivalents (i) when the Investment Manager deems it appropriate for the implementation of the investment policy (such as investment in derivatives) or (ii) temporarily, in times of increasing volatility when, for instance, the Investment Manager deems the Sub-Fund should be positioned in a defensive way.
Subject always to the limits permitted by the Investment Restrictions described in Section 4 of the Prospectus, the Investment Manager is authorized to use financial derivative instruments (in particular, but not limited to credit (including CDS), interest rate (including IRS), and currency derivatives):
- for hedging purposes Yes
- for EPM Yes
- as part of the investment strategy YesThe attention of investors is drawn to the Risk Factors Annex in Annex B which sets out the risk factors applicable to the Sub-Fund. | en | de |
DOLFIN3458 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
Where the Fund is authorized to borrow under points (i) and (ii), that borrowing shall not exceed 15% of its net assets in total.
However, the Fund may acquire foreign currencies by means of back to back loans.
- Without prejudice to the possibility of the Sub-Funds to acquire debt securities and to hold bank deposits, the Fund may not grant loans to or act as guarantor on behalf of third parties. This restriction shall not prevent the Fund from acquiring Transferable Securities, Money Market Instruments or other financial instruments referred to in I(1)(e), (g) and (h) which are not fully paid.
- The Fund may not carry out uncovered sales of Transferable Securities, Money Market Instruments or other financial instruments.
- The Fund may only acquire movable or immovable property which is essential for the direct pursuit of its business, provided that the limits indicated in item (a) above are complied with.
- The Fund may not acquire either precious metals or certificates representing them or hold any option, right or interest therein. Investments in debt instruments linked to, or backed by the performance of, commodities or precious metals do not fall under this restriction.
- (a) The Fund need not comply with the limits laid down in the chapter “Investment Policies and Restrictions” of the Prospectus when exercising subscription rights attaching to Transferable Securities or Money Market Instruments which form part of its assets. While ensuring observance of the principle of risk spreading, recently created Sub-Funds may derogate from paragraphs III(a) to (e), IV and VI(a) and (b) for a period of six months following the date of their creation.
- If the limits referred to in sub-paragraph (a) of section VII of chapter “Investment Policies and Restrictions” of the Prospectus are exceeded for reasons beyond the control of the Fund or as a result of the exercise of subscription rights, it must adopt as a priority objective for its sales transactions the remedying of that situation, taking due account of the interest of its Shareholders.
- To the extent that an issuer is a legal entity with multiple sub-funds where the assets of the sub-fund are exclusively reserved to the investors in such sub-fund and to those creditors whose claim has arisen in connection with the creation, operation or liquidation of that sub-fund, each sub-fund is to beconsidered as a separate issuer for the purpose of the application of the risk spreading rules set out in paragraphs III (a) to (e), IV and VI.
- The Fund will comply with such further restrictions as may be required by the regulatory authorities in any country in which the Shares are marketed. Such additional restrictions will be disclosed in this Prospectus.
- FINANCIAL DERIVATIVE INSTRUMENTSAs specified in section I (1) (e) above, the Fund may in respect of each Sub-Fund invest in financial derivative instruments. | Cuando el Fondo esté autorizado a endeudarse en virtud de los incisos (i) y (ii), el endeudamiento no podrá superar en total el 15% del patrimonio neto.
No obstante, el Fondo podrá adquirir divisas mediante préstamos garantizados (back-to-back).
- Sin perjuicio de la posibilidad de que los Subfondos adquieran títulos de deuda y mantengan depósitos bancarios, el Fondo no podrá conceder préstamos a terceros, ni actuar como garante de terceros. Esta restricción no impedirá al Fondo adquirir Valores mobiliarios, Instrumentos del mercado monetario u otros instrumentos financieros citados en las letras (e), (g) y (h) del subapartado (1) del apartado I que no estén totalmente desembolsados.
- El Fondo no podrá llevar a cabo ventas en descubierto de Valores mobiliarios, Instrumentos del mercado monetario u otros instrumentos financieros.
- El Fondo únicamente podrá adquirir bienes muebles o inmuebles que sean imprescindibles para el ejercicio directo de su actividad, siempre que se cumplan los límites indicados en la letra (a) precedente.
- El Fondo no podrá adquirir metales preciosos ni certificados que los representen ni poseer ninguna opción, derecho o intereses en estos. En esta restricción no se engloban las inversiones en instrumentos de deuda relacionados con materias primas o metales preciosos, o que estén respaldados por el rendimiento de estos.
- (a) El Fondo no estará obligado a respetar los límites de inversión que se establecen en el capítulo «Políticas y restricciones de inversión» del Folleto cuando ejerza derechos de suscripción incorporados a Valores mobiliarios o Instrumentos del mercado monetario que formen parte de su patrimonio. A condición de que observen el principio de diversificación de riesgos, los Subfondos de reciente creación podrán acogerse a una exención del cumplimiento de lo previsto en las letras (a) a (e) del apartado III, el apartado IV y las letras (a) y (b) del apartado VI durante los primeros seis meses a partir de su creación.
- Si se superasen los límites previstos en la letra (a) de la sección VII del capítulo «Políticas y restricciones de inversión» del Folleto por razones que escapen al control del Fondo o como consecuencia del ejercicio de derechos de suscripción, el Fondo adoptará como objetivo prioritario de sus operaciones de venta la subsanación de dicha situación, teniendo debidamente en cuenta los intereses de sus Accionistas.
- En la medida en que un emisor sea una entidad jurídica con múltiples subfondos y que el patrimonio de uno de ellos esté reservado exclusivamente a los inversores en dicho subfondo y a los acreedores cuyos derechos se deriven de la creación, el funcionamiento o la liquidación de tal subfondo, cada subfondo se considerará un emisor independiente a los efectos de laaplicación de las normas de diversificación del riesgo establecidas en las letras (a) a (e) del apartado III y en los apartados IV y VI precedentes.
- El Fondo deberá observar además todas las restricciones impuestas por las autoridades reguladoras de cualquier país en el que se comercialicen las Acciones. Dichas restricciones adicionales se comunicarán en el presente Folleto.
- INSTRUMENTOS FINANCIEROS DERIVADOSComo se especifica en la letra (e) del subapartado (1) del apartado I precedente, el Fondo puede invertir, respecto de cada Subfondo, en instrumentos financieros derivados. | Where the Fund is authorized to borrow under points (i) and (ii), that borrowing shall not exceed 15% of its net assets in total.
However, the Fund may acquire foreign currencies by means of back to back loans.
- Without prejudice to the possibility of the Sub-Funds to acquire debt securities and to hold bank deposits, the Fund may not grant loans to or act as guarantor on behalf of third parties. This restriction shall not prevent the Fund from acquiring Transferable Securities, Money Market Instruments or other financial instruments referred to in I(1)(e), (g) and (h) which are not fully paid.
- The Fund may not carry out uncovered sales of Transferable Securities, Money Market Instruments or other financial instruments.
- The Fund may only acquire movable or immovable property which is essential for the direct pursuit of its business, provided that the limits indicated in item (a) above are complied with.
- The Fund may not acquire either precious metals or certificates representing them or hold any option, right or interest therein. Investments in debt instruments linked to, or backed by the performance of, commodities or precious metals do not fall under this restriction.
- (a) The Fund need not comply with the limits laid down in the chapter “Investment Policies and Restrictions” of the Prospectus when exercising subscription rights attaching to Transferable Securities or Money Market Instruments which form part of its assets. While ensuring observance of the principle of risk spreading, recently created Sub-Funds may derogate from paragraphs III(a) to (e), IV and VI(a) and (b) for a period of six months following the date of their creation.
- If the limits referred to in sub-paragraph (a) of section VII of chapter “Investment Policies and Restrictions” of the Prospectus are exceeded for reasons beyond the control of the Fund or as a result of the exercise of subscription rights, it must adopt as a priority objective for its sales transactions the remedying of that situation, taking due account of the interest of its Shareholders.
- To the extent that an issuer is a legal entity with multiple sub-funds where the assets of the sub-fund are exclusively reserved to the investors in such sub-fund and to those creditors whose claim has arisen in connection with the creation, operation or liquidation of that sub-fund, each sub-fund is to beconsidered as a separate issuer for the purpose of the application of the risk spreading rules set out in paragraphs III (a) to (e), IV and VI.
- The Fund will comply with such further restrictions as may be required by the regulatory authorities in any country in which the Shares are marketed. Such additional restrictions will be disclosed in this Prospectus.
- FINANCIAL DERIVATIVE INSTRUMENTSAs specified in section I (1) (e) above, the Fund may in respect of each Sub-Fund invest in financial derivative instruments. | en | es |
DOLFIN3459 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Securities Lending
With effect from the respective Effective Date, each Sub-Fund may start engaging in securities lending activities to generate additional income and reduce costs. The proportion of each Sub- Fund's net assets subject to Securities Lending Transactions may vary between 0% and 50%.
Where the Sub-Funds enter into Securities Lending Transactions, the collateral received in relation to such transactions shall comply with ESG standards as determined by the relevant Investment Manager, Sub-Portfolio Manager and/or Securities Lending Agent, in accordance with and within the limits set forth in the Agency Securities Lending and Repurchase Agreement and in addition to the criteria defined under the sections “Collateral Arrangements in Respect of Securities Lending Transaction(s)” and “Securities Lending and Repurchase Transactions” of the Prospectus. Collateral conforming to such ESG standards shall be identified by reference to an appropriate developed market ESG equity index, as determined from time to time by the relevant Investment Manager, Sub-Portfolio Manager and/or Securities Lending Agent and will incorporate as a minimum ESG screens substantially similar to those of each New Reference Index. The securities held as collateral in respect to Securities Lending Transactions are available on the website of the Company www.Xtrackers.com.
- | # Préstamo de Valores
A partir de la Fecha Efectiva correspondiente, cada Subfondo podrá comenzar a participar en actividades de préstamo de valores para generar ingresos adicionales y reducir costes. La proporción de los activos netos de cada Subfondo sujeta a Operaciones de Préstamo de Valores puede variar entre el 0 % y el 50 %.
Cuando los Subfondos lleven a cabo Operaciones de Préstamo de Valores, la garantía recibida en relación con dichas operaciones deberá cumplir los estándares ESG establecidos por el Gestor de Inversiones, el Subgestor de Cartera o el Agente de Préstamo de Valores correspondiente, con arreglo a los límites establecidos en el Contrato de Agencia de Préstamo y Recompra de Valores, además de los criterios definidos en las secciones “Contratos de garantía relativos a operaciones de préstamo de valores” y “Operaciones de préstamo y recompra de valores” del Folleto. La garantía que se ajuste a dichos estándares ESG se identificará por referencia al índice de renta variable ESG de mercados desarrollados pertinente, según determinen oportunamente el Gestor de Inversiones, el Subgestor de Cartera o el Agente de Préstamo de Valores correspondiente, e incorporará como mínimo filtros ESG sustancialmente similares a los de cada Nuevo Índice de Referencia. Puede obtener más información sobre los valores que se mantienen como garantía con respecto a las Operaciones de Préstamo de Valores en la Página Web de la Sociedad www.Xtrackers.com.
- | # Securities Lending
With effect from the respective Effective Date, each Sub-Fund may start engaging in securities lending activities to generate additional income and reduce costs. The proportion of each Sub- Fund's net assets subject to Securities Lending Transactions may vary between 0% and 50%.
Where the Sub-Funds enter into Securities Lending Transactions, the collateral received in relation to such transactions shall comply with ESG standards as determined by the relevant Investment Manager, Sub-Portfolio Manager and/or Securities Lending Agent, in accordance with and within the limits set forth in the Agency Securities Lending and Repurchase Agreement and in addition to the criteria defined under the sections “Collateral Arrangements in Respect of Securities Lending Transaction(s)” and “Securities Lending and Repurchase Transactions” of the Prospectus. Collateral conforming to such ESG standards shall be identified by reference to an appropriate developed market ESG equity index, as determined from time to time by the relevant Investment Manager, Sub-Portfolio Manager and/or Securities Lending Agent and will incorporate as a minimum ESG screens substantially similar to those of each New Reference Index. The securities held as collateral in respect to Securities Lending Transactions are available on the website of the Company www.Xtrackers.com.
- | en | es |
DOLFIN3460 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
### Epidemic/Pandemic Related Risk
An epidemic is a widespread occurrence of an infectious disease in a community at a particular time. A pandemic occurs when an epidemic reaches national or global levels. While an epidemic may primarily affect a particular region (and Funds that have focussed their investment in that region may face higher risks of loss), an epidemic may also adversely affect the global economy, the economies of the relevant nations and individual issuers, all of which may negatively impact a Fund’s performance. It is likely that a pandemic will have more far-reaching consequences. While a pandemic may vary in severity and duration, it may present significant financial and/or operational risks to the Company, the Manager and/or its service providers (including the Administrator and the Investment Advisor) for its duration and beyond. Depending on the severity of the pandemic, it may result in travel and border restrictions, quarantines, supply chain disruptions, lower consumer demand and general market uncertainty and volatility. For example, beginning in January 2020, global financial markets have experienced and may continue to experience significant volatility resulting from the spread of a novel coronavirus known as COVID-19. The effects of COVID-19 have and may continue to adversely affect the global economy, the economies of certain nations and individual issuers, all of which may negatively impact a Fund’s performance.
Such market disruptions caused by medical and health-related events may cause dramatic losses for a Fund and such events can result in otherwise historically low-risk strategies performing with unprecedented volatility and risk. A pandemic may have an adverse impact on a Fund’s portfolio, or a Fund’s ability to source new investments or to realise its investments. Epidemics, pandemics and/or similar events could also have an acute effect on individual issuers or related groups of issuers and could adversely affect securities markets, interest rates, auctions, secondary trading, ratings, credit risk, inflation, deflation and other factors relating to the Company’s or the Investment Advisor’s (or other service providers’) operations. Additionally, the risks related to health pandemics or outbreaks of disease are heightened due to uncertainty as to whether such an event would qualify as a force majeure event. If a force majeure event is determined to have occurred, a Fund’s counterparty may be relieved of its obligations under certain contracts to which the Fund (or its delegate) is a party, or, if it has not, the Fund (or its delegate) may be required to meet its contractual obligations, despite potential constraints on their operations and/or financial stability. Either outcome could adversely impact the Fund’s performance. | ### Risiken in Verbindung mit einer Epidemie/Pandemie
Eine Epidemie ist ein weit verbreitetes Auftreten einer Infektionskrankheit in einer Gemeinschaft zu einem bestimmten Zeitpunkt. Eine Pandemie ist eine Epidemie, die sich weltweit über Länder und Kontinente hinweg erstreckt. Während eine Epidemie in erster Linie eine bestimmte Region betreffen kann (und Fonds, die ihre Anlagen in dieser Region konzentriert haben, möglicherweise höheren Verlustrisiken ausgesetzt sind), kann sich eine Epidemie auch nachteilig auf die Weltwirtschaft, die Volkswirtschaften der betreffenden Länder und einzelne Emittenten und somit auch negativ auf die Performance eines Fonds auswirken. Es ist wahrscheinlich, dass eine Pandemie weitreichendere Folgen haben wird. Eine Pandemie kann zwar von unterschiedlicher Schwere und Dauer sein, doch kann sie für die Gesellschaft, den Manager und/oder seine Dienstleister (einschließlich des Verwalters und des Anlageberaters) während ihrer Dauer und darüber hinaus erhebliche finanzielle und/oder betriebliche Risiken mit sich bringen. Je nach Schwere der Pandemie kann sie zu Reise- und Grenzbeschränkungen, Quarantäne, Unterbrechungen der Lieferketten, geringerer Verbrauchernachfrage und allgemeiner Marktunsicherheit und -volatilität führen. Beispielsweise haben die globalen Finanzmärkte ab Januar 2020 aufgrund der Ausbreitung eines neuartigen Coronavirus mit der Bezeichnung COVID-19 erhebliche Volatilität erfahren, die auch weiterhin anhalten könnte. Die Auswirkungen von COVID-19 haben die Weltwirtschaft, die Volkswirtschaften bestimmter Länder und einzelne Emittenten beeinträchtigt und können dies auch weiterhin tun, was sich auch negativ auf die Performance eines Fonds auswirken kann.
Solche durch medizinische und gesundheitsbezogene Ereignisse ausgelöste Marktstörungen können Ursache erheblicher Verluste eines Fonds sein, und solche Ereignisse führen unter Umständen dazu, dass Strategien mit historisch geringem Risiko nun eine beispiellos hohe Volatilität und hohe Risiken aufweisen. Eine Pandemie kann sich negativ auf das Portfolio eines Fonds oder auf die Fähigkeit eines Fonds auswirken, neue Anlagen zu tätigen oder seine Anlagen zu veräußern. Epidemien, Pandemien und/oder ähnliche Ereignisse können auch akute Auswirkungen auf einzelne Emittenten oder miteinander verbundene Gruppen von Emittenten haben, und sie könnten sich nachteilig auf Wertpapiermärkte, Zinssätze, Auktionen, den Sekundärhandel, Bonitätsbewertungen, Kreditrisiken, Inflation, Deflation und andere Faktoren auswirken, die mit der Geschäftstätigkeit der Gesellschaft oder des Anlageberaters (oder anderer Dienstleister) zusammenhängen. Darüber hinaus sind die Risiken im Zusammenhang mit Gesundheitspandemien oder Krankheitsausbrüchen aufgrund der Ungewissheit, ob ein solches Ereignis als höhere Gewalt einzustufen ist, erhöht. Wenn festgestellt wird, dass ein Ereignis höherer Gewalt eingetreten ist, kann die Gegenpartei eines Fonds von ihren Verpflichtungen aus bestimmten Verträgen, an denen der Fonds (oder sein Delegierter) beteiligt ist, entbunden werden, oder, wenn dies nicht der Fall ist, kann vom Fonds (oder seinem Beauftragten) trotz potenzieller Einschränkungen seiner Geschäftstätigkeit und/oder finanziellen Stabilität verlangt werden, seinen vertraglichen Verpflichtungen nachzukommen. Beide Ergebnisse könnten sich negativ auf die Performance des Fonds auswirken. | ### Epidemic/Pandemic Related Risk
An epidemic is a widespread occurrence of an infectious disease in a community at a particular time. A pandemic occurs when an epidemic reaches national or global levels. While an epidemic may primarily affect a particular region (and Funds that have focussed their investment in that region may face higher risks of loss), an epidemic may also adversely affect the global economy, the economies of the relevant nations and individual issuers, all of which may negatively impact a Fund’s performance. It is likely that a pandemic will have more far-reaching consequences. While a pandemic may vary in severity and duration, it may present significant financial and/or operational risks to the Company, the Manager and/or its service providers (including the Administrator and the Investment Advisor) for its duration and beyond. Depending on the severity of the pandemic, it may result in travel and border restrictions, quarantines, supply chain disruptions, lower consumer demand and general market uncertainty and volatility. For example, beginning in January 2020, global financial markets have experienced and may continue to experience significant volatility resulting from the spread of a novel coronavirus known as COVID-19. The effects of COVID-19 have and may continue to adversely affect the global economy, the economies of certain nations and individual issuers, all of which may negatively impact a Fund’s performance.
Such market disruptions caused by medical and health-related events may cause dramatic losses for a Fund and such events can result in otherwise historically low-risk strategies performing with unprecedented volatility and risk. A pandemic may have an adverse impact on a Fund’s portfolio, or a Fund’s ability to source new investments or to realise its investments. Epidemics, pandemics and/or similar events could also have an acute effect on individual issuers or related groups of issuers and could adversely affect securities markets, interest rates, auctions, secondary trading, ratings, credit risk, inflation, deflation and other factors relating to the Company’s or the Investment Advisor’s (or other service providers’) operations. Additionally, the risks related to health pandemics or outbreaks of disease are heightened due to uncertainty as to whether such an event would qualify as a force majeure event. If a force majeure event is determined to have occurred, a Fund’s counterparty may be relieved of its obligations under certain contracts to which the Fund (or its delegate) is a party, or, if it has not, the Fund (or its delegate) may be required to meet its contractual obligations, despite potential constraints on their operations and/or financial stability. Either outcome could adversely impact the Fund’s performance. | en | de |
DOLFIN3461 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
FDI used for efficient portfolio management must also comply with the Central Bank UCITS Regulations. Such FDI may comprise futures, forwards, options and swaps and their use may include hedging against market movements, currency exchange or interest rate risks in accordance with the investment policies of a Sub-Fund and under the conditions and within the limits stipulated by the Central Bank under the Regulations.
In respect of Hedged Share Classes it is expected that the extent to which the relevant currency exposure will be hedged will, subject to the requirements and conditions of the Central Bank, range from 95% to 105% of the Net Asset Value of the relevant Hedged Share Class. Over-hedged or under-hedged positions may arise due to factors outside the control of the relevant Sub-Fund. Hedged positions will be kept under review to ensure that over-hedged positions do not exceed 105% of the Net Asset Value of the relevant Hedged Share Class. This review will incorporate a procedure to ensure that positions materially in excess of 100% will not be carried forward from month to month.
- A Sub-Fund may also enter into repurchase/reverse repurchase (“repo contracts”) and/or stock lending agreements in accordance with the requirements of the Central Bank. Repo contracts and securities lending transactions do not constitute borrowing for the purposes of the Regulations. The following applies to repo contracts and securities lending arrangements entered into in respect of Fund and reflects the requirements of the Central Bank and is subject to changes thereto:
- Repo contracts and securities lending may only be effected in accordance with normal market practice.
- The Fund must have the right to terminate any securities lending arrangement which it has entered into at any time or demand the return of any or all of the securities loaned.
- Where the Fund enters into repurchase agreements in respect of a Sub-Fund, the Fund must be able at any time to recall any securities subject to the repurchase agreement or to terminate the repurchase agreement into which it has entered. Fixed-term repurchase agreements that do not exceed seven days should be considered as arrangements on terms that allow the assets to be recalled at any time by the Fund.
- Where the Fund enters into reverse repurchase agreements in respect of a Sub-Fund, the Fund must be able at any time to recall the full amount of cash or to terminate the reverse repurchase agreement on either an accrued basis or a mark-to-market basis. When the cash is recallable at any time on a mark-to- market basis, the mark-to-market value of the reverse repurchase agreement should be used for the calculation of the Net Asset Value. Fixed-term reverse repurchase agreements that do not exceed seven days should be considered as arrangements on terms that allow the assets to be recalled at any time by the Fund. | DFI, die zum Zwecke eines effizienten Portfoliomanagements eingesetzt werden, müssen auch den Anforderungen der OGAW-Verordnungen der Zentralbank genügen. Solche DFI können börsengehandelte Termingeschäfte (Futures), außerbörslich gehandelte Termingeschäfte (Forwards), Optionen und Swaps umfassen, und ihr Einsatz kann zum Zwecke der Absicherung von Marktschwankungen, Währungs- und Zinsrisiken in Übereinstimmung mit der Anlagepolitik eines Teilfonds und unter Einhaltung der Bedingungen und Beschränkungen, die von der Zentralbank in den Vorschriften festgelegt sind, erfolgen.
In Bezug auf abgesicherte Anteilsklassen ist zu erwarten, dass der Umfang, in welchem das betreffende Währungsrisiko abgesichert werden wird, vorbehaltlich der Anforderungen und Bestimmungen der Zentralbank zwischen 95% und 105% des Nettoinventarwertes der betreffenden abgesicherten Anteilsklasse liegen wird. Zu Absicherungszwecken eingegangene Positionen können aufgrund von Faktoren, auf die der betreffende Teilfonds keinen Einfluss hat, zu einer Unter- oder Übersicherung führen. Zu Absicherungszwecken eingegangene Positionen werden kontinuierlich überprüft, so dass sichergestellt ist, dass eine aus einer solchen Position resultierende Übersicherung 105% des Nettoinventarwertes der betreffenden abgesicherten Anteilsklasse nicht überschreitet. Diese Überprüfung wird einen Prozess umfassen, der sicherstellt, dass Positionen, die zu einer Überschreitung von 100% führen, nicht von Monat zu Monat vorgetragen werden.
- Ein Teilfonds kann auch Pensions-/umgekehrte Pensionsgeschäfte („Repo-Geschäfte“) und/oder Wertpapierleihvereinbarungen gemäß den Anforderungen der Zentralbank eingehen. Repo-Geschäfte und Wertpapierleihvereinbarungen stellen keine Kreditaufnahmen im Sinne der Verordnungen dar. Für vom Fonds eingegangene Repo-Geschäfte und Wertpapierleihvereinbarungen gelten folgende Bestimmungen,die die Anforderungen der Zentralbank widerspiegeln und deren Änderungen unterliegen:
- Repo-Geschäfte und Wertpapierleihen können nur in Übereinstimmung mit den üblichen Marktpraktiken durchgeführt werden.
- Der Fonds muss das Recht haben, von ihm abgeschlossene Wertpapierleihverträge jederzeit zu kündigen oder die Rückgabe aller oder eines Teils der verliehenen Wertpapiere zu verlangen.
- Geht der Fonds in Bezug auf einen Teilfonds Repo-Geschäfte ein, muss der Fonds in der Lage sein, Wertpapiere gemäß der Repo-Vereinbarung jederzeit zurückzufordern oder die von ihm eingegangene Repo-Vereinbarung zu kündigen. Repo-Geschäfte mit fester Laufzeit von höchstens sieben Tagen sind als Vereinbarungen zu sehen, deren Bedingungen den jederzeitigen Rückruf der Vermögenswerte durch den Fonds gestatten.
- Geht der Fonds für einen Teilfonds Reverse-Repo-Geschäfte ein, muss der Fonds jederzeit in der Lage sein, den Barmittelbetrag in voller Höhe zurückzurufen oder das Reverse-Repo-Geschäft entweder bei Anfall oder auf Mark-to-Market-Basis zu kündigen. Wenn die Barmittel jederzeit auf Mark-to-Market-Basis zurückgerufen werden können, sollte für die Berechnung des Nettoinventarwerts der Mark-to-Market-Wert des Reverse-Repo-Geschäfts verwendet werden. Reverse-Repo-Geschäfte mit fester Laufzeit von höchstens sieben Tagen sind als Vereinbarungen zu sehen, deren Bedingungen den jederzeitigen Rückruf der Vermögenswerte durch den Fonds gestatten. | FDI used for efficient portfolio management must also comply with the Central Bank UCITS Regulations. Such FDI may comprise futures, forwards, options and swaps and their use may include hedging against market movements, currency exchange or interest rate risks in accordance with the investment policies of a Sub-Fund and under the conditions and within the limits stipulated by the Central Bank under the Regulations.
In respect of Hedged Share Classes it is expected that the extent to which the relevant currency exposure will be hedged will, subject to the requirements and conditions of the Central Bank, range from 95% to 105% of the Net Asset Value of the relevant Hedged Share Class. Over-hedged or under-hedged positions may arise due to factors outside the control of the relevant Sub-Fund. Hedged positions will be kept under review to ensure that over-hedged positions do not exceed 105% of the Net Asset Value of the relevant Hedged Share Class. This review will incorporate a procedure to ensure that positions materially in excess of 100% will not be carried forward from month to month.
- A Sub-Fund may also enter into repurchase/reverse repurchase (“repo contracts”) and/or stock lending agreements in accordance with the requirements of the Central Bank. Repo contracts and securities lending transactions do not constitute borrowing for the purposes of the Regulations. The following applies to repo contracts and securities lending arrangements entered into in respect of Fund and reflects the requirements of the Central Bank and is subject to changes thereto:
- Repo contracts and securities lending may only be effected in accordance with normal market practice.
- The Fund must have the right to terminate any securities lending arrangement which it has entered into at any time or demand the return of any or all of the securities loaned.
- Where the Fund enters into repurchase agreements in respect of a Sub-Fund, the Fund must be able at any time to recall any securities subject to the repurchase agreement or to terminate the repurchase agreement into which it has entered. Fixed-term repurchase agreements that do not exceed seven days should be considered as arrangements on terms that allow the assets to be recalled at any time by the Fund.
- Where the Fund enters into reverse repurchase agreements in respect of a Sub-Fund, the Fund must be able at any time to recall the full amount of cash or to terminate the reverse repurchase agreement on either an accrued basis or a mark-to-market basis. When the cash is recallable at any time on a mark-to- market basis, the mark-to-market value of the reverse repurchase agreement should be used for the calculation of the Net Asset Value. Fixed-term reverse repurchase agreements that do not exceed seven days should be considered as arrangements on terms that allow the assets to be recalled at any time by the Fund. | en | de |
DOLFIN3462 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
### Launch Date and Currency
Sub-Fund's launch date: July 16, 2012.
The reference currency of the Sub-Fund is USD. Past performance was calculated in CHF.
10%
5%
0%
-5% | ### Fecha de lanzamiento y Moneda de referencia
Fecha de lanzamiento del subfondo: 16 de julio de 2012. La moneda de referencia del Subfondo es USD.
La rentabilidad pasada se calculó en CHF.
10%
5%
0%
-5% | ### Launch Date and Currency
Sub-Fund's launch date: July 16, 2012.
The reference currency of the Sub-Fund is USD. Past performance was calculated in CHF.
10%
5%
0%
-5% | en | es |
DOLFIN3463 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
We have classified this product as class 1 out of 7, which is the lowest risk class.
The value of the fund may be affected by risks not in the SRI: failure of a counterparty, custodian or issuer; derivative use; inability to sell holdings; trends in interest rates; emerging markets. | L'indicatore sintetico di rischio è un'indicazione orientativa del livello di rischio di questo prodotto rispetto ad altri prodotti. Esso esprime la probabilità che il prodotto subisca perdite monetarie a causa di movimenti sul mercato o a causa della nostra incapacità di pagarvi quanto dovuto.
Abbiamo classificato questo prodotto al livello 1 su 7, che corrisponde alla classe di rischio più bassa.
Il valore del fondo può essere influenzato da rischi non presenti nell'indicatore sintetico di rischio: fallimento di una controparte, di un custode o di un emittente; uso di derivati; impossibilità di vendere partecipazioni; andamento dei tassi di interesse; mercati emergenti. | The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
We have classified this product as class 1 out of 7, which is the lowest risk class.
The value of the fund may be affected by risks not in the SRI: failure of a counterparty, custodian or issuer; derivative use; inability to sell holdings; trends in interest rates; emerging markets. | en | it |
DOLFIN3464 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
Where an investment objective restricts investment to specific countries, sectors, regions or markets diversification may be limited. Performance may differ significantly from the general trend of the global equity markets.
-
## Investments in the property sector | Sind die Anlagen durch das Anlageziel auf bestimmte Länder, Sektoren, Regionen oder Märkte beschränkt, so bestehen auch weniger Diversifikationsmöglichkeiten. Die Wertentwicklung kann erheblich vom Gesamttrend der globalen Aktienmärkte abweichen.
-
## Anlagen im Immobiliensektor | Where an investment objective restricts investment to specific countries, sectors, regions or markets diversification may be limited. Performance may differ significantly from the general trend of the global equity markets.
-
## Investments in the property sector | en | de |
DOLFIN3465 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| | IF YOU EXIT AFTER 1 YEAR | IF YOU EXIT AFTER 3 YEARS |
| --- | --- | --- |
| Stress scenario | What you might get back after costs | EUR 7,270 | EUR 7,890 |
| | Average return each year % | -27.30% | -7.60% |
| Unfavourable scenario | What you might get back after costs | EUR 8,290 | EUR 8,180 |
| | Average return each year % | -17.10% | -6.48% |
| Moderate scenario | What you might get back after costs | EUR 10,150 | EUR 10,390 |
| | Average return each year % | 1.50% | 1.28% |
| Favourable scenario | What you might get back after costs | EUR 10,890 | EUR 11,320 |
| | Average return each year % | 8.90% | 4.22% | | | | EN CASO DE SALIDA DESPUÉS DE X AÑO(S) | EN CASO DE SALIDA DESPUÉS DE X AÑO(S) |
| --- | --- | --- |
| Escenario de tensión | Lo que podría recibir tras deducir los costes | EUR 7.270 | EUR 7.890 |
| | Rendimiento medio cada año | -27,30% | -7,60% |
| Escenario desfavorable | Lo que podría recibir tras deducir los costes | EUR 8.290 | EUR 8.180 |
| | Rendimiento medio cada año | -17,10% | -6,48% |
| Escenario moderado | Lo que podría recibir tras deducir los costes | EUR 10.150 | EUR 10.390 |
| | Rendimiento medio cada año | 1,50% | 1,28% |
| Escenario favorable | Lo que podría recibir tras deducir los costes | EUR 10.890 | EUR 11.320 |
| | Rendimiento medio cada año | 8,90% | 4,22% | | | | IF YOU EXIT AFTER 1 YEAR | IF YOU EXIT AFTER 3 YEARS |
| --- | --- | --- |
| Stress scenario | What you might get back after costs | EUR 7,270 | EUR 7,890 |
| | Average return each year % | -27.30% | -7.60% |
| Unfavourable scenario | What you might get back after costs | EUR 8,290 | EUR 8,180 |
| | Average return each year % | -17.10% | -6.48% |
| Moderate scenario | What you might get back after costs | EUR 10,150 | EUR 10,390 |
| | Average return each year % | 1.50% | 1.28% |
| Favourable scenario | What you might get back after costs | EUR 10,890 | EUR 11,320 |
| | Average return each year % | 8.90% | 4.22% | | en | es |
DOLFIN3466 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Ce document fournit des informations essentielles aux investisseurs de ce fonds. Il ne s'agit pas d'un document promotionnel. Les informations qu'il contient vous sont fournies conformément à une obligation légale, afin de vous aider à comprendre en quoi consiste un investissement dans ce fonds et quels risques y sont associés. Il vous est conseillé de le lire pour décider en connaissance de cause d'investir ou non.
Macquarie Sustainable Emerging Markets LC Bond Fund Catégorie I EUR ISIN: LU1818617620
Un compartiment de Macquarie Fund Solutions, une Société d'Investissement à Capital Variable («SICAV»).
La Société de gestion de la SICAV est Lemanik Asset Management S.A.
Objectifs et politique d'investissement
Objectif: Fournir aux investisseurs un revenu courant et le potentiel d'appréciation du capital à moyen et long terme et atteindre son objectif d'investissement durable, en investissant dans des obligations et/ou des instruments de dette titrisés émis ou garantis par des agences supranationales, qui sont alignées sur les Objectifs de développement durable des Nations Unies.
Titres en portefeuille: Dans des conditions normales, le Macquarie Sustainable Emerging Markets LC Bond Fund (le « Compartiment ») investit principalement dans des obligations et/ou des titres de créance qui sont émis ou garantis par des agences supranationales. Ces instruments sont principalement libellés en devises locales de pays émergents. Dans une moindre mesure, le Compartiment peut également investir dans d'autres obligations et/ou instruments de dette titrisés, instruments du marché monétaire et liquidités, lorsque le Gestionnaire s'attend à ce que les rendements de ces titres contribuent à atteindre l'objectif d'investissement et/ou à améliorer la liquidité du Compartiment. Au moins 75 % des investissements du Compartiment seront des investissements durables. Le Compartiment peut investir jusqu'à 10 % de son actif net dans des obligations chinoises, par le biais de China Bond Connect. Le Compartiment peut utiliser des instruments
financiers pour gérer son exposition à divers risques d'investissement (couverture) et pour chercher à obtenir des plus-values d'investissement.
Processus d'investissement: Le Gestionnaire d'Investissement gère le Compartiment de manière active, sans contrainte liée à un indice de référence. La stratégie du Gestionnaire d'investissement pour atteindre l'objectif d'investissement durable intègre (i) un filtrage environnemental, social et de gouvernance (« ESG ») basé sur les notations fournies par un consultant externe et (ii) une analyse fondamentale intégrée ESG.
Destinataires: Le présent Compartiment pourrait ne pas convenir aux investisseurs qui souhaitent retirer leur apport dans les 5 ans.
De plus amples informations sur les autres catégories d'investissements que le Compartiment peut effectuer sont présentées dans l'Annexe A de son Prospectus.
Vous pouvez passer des ordres d'achat ou de vente d'actions du Compartiment à tout moment. Les ordres reçus durant un jour ouvré donné au Luxembourg avant 12h00, heure de Luxembourg, seront traités au cours des actions de ce jour.
Les revenus perçus par le Compartiment sont accumulés dans la valeur nette d'inventaire de cette catégorie et non distribués.
Profil de risque et de rendement | El presente documento recoge los datos fundamentales sobre este fondo que el inversor debe conocer. No se trata de material de promoción comercial. La ley exige que se facilite esta información para ayudarle a comprender la naturaleza del fondo y los riesgos que comporta invertir en él. Es aconsejable que lea el documento para poder tomar una decisión fundada sobre la conveniencia o no de invertir en él.
Macquarie Sustainable Emerging Markets LC Bond Fund Clase I EUR ISIN: LU1818617620
Un subfondo de Macquarie Fund Solutions, una sociedad de inversión de capital variable (Société d'Investissement à Capital Variable, “SICAV”).
La sociedad gestora de la SICAV es Lemanik Asset Management S.A.
Objetivos y política de inversión
Objetivo: Proporcionar a los inversores ingresos corrientes y potencial de revalorización del capital a medio y largo plazo, así como alcanzar su objetivo de inversión sostenible invirtiendo en bonos o instrumentos de deuda titulizados que hayan sido emitidos o garantizados por organismos supranacionales que estén alineados con los Objetivos de Desarrollo Sostenible de las Naciones Unidas.
Valores en cartera: En condiciones normales, Macquarie Sustainable Emerging Markets LC Bond Fund (el “Subfondo”) invierte principalmente en bonos o instrumentos de deuda titulizados emitidos o garantizados por organismos supranacionales. Estos instrumentos se denominan principalmente en divisas locales de países emergentes. En menor medida, el Subfondo también podrá invertir en otros bonos u otros instrumentos de deuda titulizados, instrumentos del mercado monetario y efectivo cuando el gestor de inversiones considere que el rendimiento de esos valores contribuirá a cumplir el objetivo de inversión del Subfondo o a mejorar la liquidez. Al menos el 75 % de la inversión del Subfondo constituirá una inversión sostenible. El Subfondo podrá invertir hasta el 10 % de sus activos netos en bonos chinos a través de China Bond Connect. El Subfondo podrá utilizar instrumentos
financieros para gestionar su exposición a diversos riesgos de inversión (cobertura) y para conseguir ganancias de inversión.
Proceso de inversión: El gestor de inversiones gestiona activamente el Subfondo y no está limitado por ningún índice de referencia. La estrategia del gestor de inversiones para lograr el objetivo de inversión sostenible incluye (i) la evaluación de criterios ambientales, sociales y de gobernanza (“ASG”) basada en las calificaciones proporcionadas por un consultor externo y (ii) el análisis fundamental integrado de ASG.
Destinatarios previstos: Este Subfondo puede no ser adecuado para inversores que deseen retirar su dinero en un plazo de 5 años.
Se incluyen más detalles sobre otras categorías de inversiones que el Subfondo puede hacer en el Anexo A del Folleto del Subfondo.
Puede enviar órdenes de compra o venta de acciones del Subfondo en cualquier momento. Las órdenes recibidas en cualquier día laborable en Luxemburgo antes de las 12:00 h, hora de Luxemburgo, se procesarán al precio de las acciones de ese día.
Los ingresos que el Subfondo obtiene se acumulan en el valor liquidativo de esta clase y no se distribuyen.
Perfil de riesgo y remuneración | Ce document fournit des informations essentielles aux investisseurs de ce fonds. Il ne s'agit pas d'un document promotionnel. Les informations qu'il contient vous sont fournies conformément à une obligation légale, afin de vous aider à comprendre en quoi consiste un investissement dans ce fonds et quels risques y sont associés. Il vous est conseillé de le lire pour décider en connaissance de cause d'investir ou non.
Macquarie Sustainable Emerging Markets LC Bond Fund Catégorie I EUR ISIN: LU1818617620
Un compartiment de Macquarie Fund Solutions, une Société d'Investissement à Capital Variable («SICAV»).
La Société de gestion de la SICAV est Lemanik Asset Management S.A.
Objectifs et politique d'investissement
Objectif: Fournir aux investisseurs un revenu courant et le potentiel d'appréciation du capital à moyen et long terme et atteindre son objectif d'investissement durable, en investissant dans des obligations et/ou des instruments de dette titrisés émis ou garantis par des agences supranationales, qui sont alignées sur les Objectifs de développement durable des Nations Unies.
Titres en portefeuille: Dans des conditions normales, le Macquarie Sustainable Emerging Markets LC Bond Fund (le « Compartiment ») investit principalement dans des obligations et/ou des titres de créance qui sont émis ou garantis par des agences supranationales. Ces instruments sont principalement libellés en devises locales de pays émergents. Dans une moindre mesure, le Compartiment peut également investir dans d'autres obligations et/ou instruments de dette titrisés, instruments du marché monétaire et liquidités, lorsque le Gestionnaire s'attend à ce que les rendements de ces titres contribuent à atteindre l'objectif d'investissement et/ou à améliorer la liquidité du Compartiment. Au moins 75 % des investissements du Compartiment seront des investissements durables. Le Compartiment peut investir jusqu'à 10 % de son actif net dans des obligations chinoises, par le biais de China Bond Connect. Le Compartiment peut utiliser des instruments
financiers pour gérer son exposition à divers risques d'investissement (couverture) et pour chercher à obtenir des plus-values d'investissement.
Processus d'investissement: Le Gestionnaire d'Investissement gère le Compartiment de manière active, sans contrainte liée à un indice de référence. La stratégie du Gestionnaire d'investissement pour atteindre l'objectif d'investissement durable intègre (i) un filtrage environnemental, social et de gouvernance (« ESG ») basé sur les notations fournies par un consultant externe et (ii) une analyse fondamentale intégrée ESG.
Destinataires: Le présent Compartiment pourrait ne pas convenir aux investisseurs qui souhaitent retirer leur apport dans les 5 ans.
De plus amples informations sur les autres catégories d'investissements que le Compartiment peut effectuer sont présentées dans l'Annexe A de son Prospectus.
Vous pouvez passer des ordres d'achat ou de vente d'actions du Compartiment à tout moment. Les ordres reçus durant un jour ouvré donné au Luxembourg avant 12h00, heure de Luxembourg, seront traités au cours des actions de ce jour.
Les revenus perçus par le Compartiment sont accumulés dans la valeur nette d'inventaire de cette catégorie et non distribués.
Profil de risque et de rendement | fr | es |
DOLFIN3467 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
Investment Objective: Focus on high quality businesses that offer the potential for superior risk/reward outcomes, follows a contrarian value strategy and avoid permanent impairment of capital
Investment Universe: Individual investments in equities across all market capitalization and sectors supported by an independent bottom-up research process
Performance
(at 31.08.2020) | Obiettivo di investimento: concentrarsi su imprese di alta qualità che offrono il potenziale per risultati di rischio / rendimento superiori, segue una strategia di valore contrarian ed evita la perdita permanente di capitale
Universo di investimento: investimenti individuali in azioni in tutte le capitalizzazioni di mercato e settori supportati da un processo di ricerca dal basso indipendente
Prestazione
(dal 31.08.2020) | Investment Objective: Focus on high quality businesses that offer the potential for superior risk/reward outcomes, follows a contrarian value strategy and avoid permanent impairment of capital
Investment Universe: Individual investments in equities across all market capitalization and sectors supported by an independent bottom-up research process
Performance
(at 31.08.2020) | en | it |
DOLFIN3468 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
Upon proposal from the Board of Directors and within legal limits, the general meeting of the shareholders of the share class(es) issued for a sub-fund will determine the allocation of that sub- fund’s income and may authorise the Board of Directors to declare distributions.
The share of income that is allocated to accumulation shares will remain invested in the Company and will be incorporated in the share of the net assets represented by the accumulation shares.
Concerning the share of the income that is allocated to distribution shares, the amount distributable for each sub-fund may be composed of the interest, dividends, capital gains (whether realised or not), and other realised income, less fees and any capital loss (whether realised or not), as well as the capital of this sub-fund, within the limits specified by article 27 of the Law of 2010 relative to UCIs. The dividends to be distributed to the holders of distribution shares will be expressed and made payable during the five months that follow closure of the accounting period.
For distribution shares, the Board of Directors is also authorised to distribute interim dividends. Upon proposal from the Board of Directors, the general meeting may also decide to distribute a dividend to shareholders in the form of shares in the sub-fund concerned, on a pro rata basis in relation to existing shares of the same class.
For distribution shares, any declared dividend that has not been claimed by its beneficiary within five years from its allocation shall no longer be applicable due to lapse of time and return to the sub-fund concerned.
No interest will be paid on a dividend declared by the Company and kept by it available to its beneficiary.
The distribution of dividends will be published in newspapers of adequate distribution.
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# TAX TREATMENT OF THE COMPANY AND | Sur proposition du Conseil d'Administration et dans les limites légales, l’assemblée générale des actionnaires de la (des) classe(s) d’Actions émise(s) au titre d’un compartiment déterminera l’affectation des résultats de ce compartiment et pourra autoriser le Conseil d’Administration à déclarer des distributions.
La part du résultat qui revient aux actions de capitalisation restera investie dans la Société et sera intégrée à la part de l'actif net, représentée par les actions de capitalisation.
Concernant la part du résultat qui revient aux actions de distribution, le montant distribuable pour chaque compartiment peut être constitué par les intérêts, dividendes, plus-values, réalisées ou non, et autres revenus réalisés, sous déduction des frais et des moins-values éventuelles, réalisées ou non ainsi que du capital de ce compartiment, dans les limites prévues par l'article 27 de la Loi de 2010 relative aux organismes de placement collectif.
Les dividendes à distribuer aux détenteurs d'actions de distribution seront exprimés et rendus payables au cours des cinq mois qui suivent la clôture de l'exercice.
Pour les actions de distribution, le Conseil d'Administration est également autorisé à distribuer des acomptes sur dividendes. Sur proposition du Conseil d'Administration, l'Assemblée Générale pourra également décider la distribution aux actionnaires d'un dividende sous forme d'actions du compartiment concerné, au prorata des actions existantes de la même classe.
Pour les actions de distribution, tout dividende déclaré qui n'aura pas été réclamé par son bénéficiaire dans les cinq ans à compter de son attribution sera prescrit et reviendra au compartiment concerné.
Aucun intérêt ne sera payé sur un dividende déclaré par la Société et conservé par elle à la disposition de son bénéficiaire.
La publication de la distribution des dividendes sera faite dans des journaux à diffusion adéquate.
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# TRAITEMENT FISCAL DE LA SOCIETE ET | Upon proposal from the Board of Directors and within legal limits, the general meeting of the shareholders of the share class(es) issued for a sub-fund will determine the allocation of that sub- fund’s income and may authorise the Board of Directors to declare distributions.
The share of income that is allocated to accumulation shares will remain invested in the Company and will be incorporated in the share of the net assets represented by the accumulation shares.
Concerning the share of the income that is allocated to distribution shares, the amount distributable for each sub-fund may be composed of the interest, dividends, capital gains (whether realised or not), and other realised income, less fees and any capital loss (whether realised or not), as well as the capital of this sub-fund, within the limits specified by article 27 of the Law of 2010 relative to UCIs. The dividends to be distributed to the holders of distribution shares will be expressed and made payable during the five months that follow closure of the accounting period.
For distribution shares, the Board of Directors is also authorised to distribute interim dividends. Upon proposal from the Board of Directors, the general meeting may also decide to distribute a dividend to shareholders in the form of shares in the sub-fund concerned, on a pro rata basis in relation to existing shares of the same class.
For distribution shares, any declared dividend that has not been claimed by its beneficiary within five years from its allocation shall no longer be applicable due to lapse of time and return to the sub-fund concerned.
No interest will be paid on a dividend declared by the Company and kept by it available to its beneficiary.
The distribution of dividends will be published in newspapers of adequate distribution.
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# TAX TREATMENT OF THE COMPANY AND | en | fr |
DOLFIN3469 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# The price of Shares and the income from them may go down as well as up – accordingly, prospective investors' attention is drawn to the section headed "Risk Factors" of this Prospectus.
Enquiries or Complaints
Any investor enquiries or complaints should be submitted to the Administrator's office at 31 Z.A. Bourmicht, L- 8070 Bertrange, Grand Duchy of Luxembourg and the Administrator will respond to any enquiry or complaint. Under the circumstances where performance related complaints are received, the Administrator will forward the complaint to the Management Company for a response.
The complaints handling policy established by the Management Company for the Company may be requested by contacting the Management Company at 5, rue Heienhaff, L-1736 Senningerberg, Grand Duchy of Luxembourg.
If your complaint is not dealt with to your satisfaction you may be able to refer it to the CSSF (as defined hereafter), département juridique CC, 283, route d’Arlon, L-2991 Luxembourg, Grand Duchy of Luxembourg, fax: (+352) 26 25 1 2601, email: [email protected], website: http://www.cssf.lu.
April 2023
Table of Contents | # Der Preis der Anteile und die aus ihnen erzielten Erträge können sowohl fallen als auch steigen – dementsprechend werden potenzielle Anleger auf den Abschnitt „Risikofaktoren“ dieses Verkaufsprospekts hingewiesen.
Anfragen oder Beschwerden
Etwaige Anfragen oder Beschwerden von Anlegern sind an das Büro des Verwalters in 31 Z.A. Bourmicht, L-8070 Bertrange, Großherzogtum Luxemburg, zu richten, und der Verwalter wird jede Anfrage oder Beschwerde beantworten. Wenn leistungsbezogene Beschwerden eingehen, leitet der Administrator die Beschwerde zur Beantwortung an die Verwaltungsgesellschaft weiter.
Die von der Verwaltungsgesellschaft festgelegte Richtlinie zur Behandlung von Beschwerden kann bei der Verwaltungsgesellschaft unter der Adresse 5, rue Heienhaff, L-1736 Senningerberg, Großherzogtum Luxemburg, angefordert werden.
Wenn Ihre Beschwerde nicht zu Ihrer Zufriedenheit behandelt wird, können Sie sie wie folgt an die CSSF richten (wie nachstehend definiert), département juridique CC, 283, route d’Arlon, L-2991 Luxemburg, Großherzogtum Luxemburg, Fax: (+352) 26 25 1 2601, email: [email protected], Website: http://www.cssf.lu.
April 2023
Inhaltsverzeichnis | # The price of Shares and the income from them may go down as well as up – accordingly, prospective investors' attention is drawn to the section headed "Risk Factors" of this Prospectus.
Enquiries or Complaints
Any investor enquiries or complaints should be submitted to the Administrator's office at 31 Z.A. Bourmicht, L- 8070 Bertrange, Grand Duchy of Luxembourg and the Administrator will respond to any enquiry or complaint. Under the circumstances where performance related complaints are received, the Administrator will forward the complaint to the Management Company for a response.
The complaints handling policy established by the Management Company for the Company may be requested by contacting the Management Company at 5, rue Heienhaff, L-1736 Senningerberg, Grand Duchy of Luxembourg.
If your complaint is not dealt with to your satisfaction you may be able to refer it to the CSSF (as defined hereafter), département juridique CC, 283, route d’Arlon, L-2991 Luxembourg, Grand Duchy of Luxembourg, fax: (+352) 26 25 1 2601, email: [email protected], website: http://www.cssf.lu.
April 2023
Table of Contents | en | de |
DOLFIN3470 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
En outre, le fonds investit au moins 90 % de ses actifs dans des émetteurs figurant dans son indice de référence et sélectionnés sur la base de critères environnementaux, sociaux et de gouvernance d'entreprise. Eurizon Capital S.A. prend en compte les critères ESG en sélectionnant des indices de référence qui tiennent compte de facteurs environnementaux et/ou sociaux et des pratiques de bonne gouvernance (appelés « indices ESG »). Eurizon Capital S.A. analyse la méthodologie utilisée pour calculer l'indice retenu comme référence afin (i) de garantir l'alignement par rapport aux caractéristiques environnementales ou sociales promues par le produit et la stratégie d'investissement et (ii) d'évaluer les critères d'intégration ESG par rapport aux indices de marché pertinents.
En outre, le fonds n'investit pas dans des émetteurs opérant dans des secteurs considérés comme « non responsables sur le plan social et environnemental », c'est-à-dire (i) dans des sociétés caractérisées par une implication directe évidente dans la fabrication d'armes non conventionnelles, (ii) dans des sociétés qui tirent au moins 25 % de leur chiffre d'affaires d'activités minières ou de production d'électricité liées au charbon thermique ou (iii) dans des sociétés qui tirent au moins 10 % de leur chiffre d'affaires de l'extraction de sables bitumineux. En outre, le fonds n’investit pas dans des émetteurs « critiques » pour lesquels un processus de remontée du problème a été lancé. Les émetteurs critiques sont les entreprises présentant l’exposition la plus élevée aux risques environnementaux, sociaux et de gouvernance, c’est-à-dire celles qui possèdent une note de durabilité ESG moins élevée dans l’univers d’investissement en actions et obligations.
Le fonds possèdera au moins 40 % d’investissements durables en investissant dans des émetteurs dont les activités contribuent à un ou plusieurs des objectifs de développement durable (ODD) ou dans des obligations dont les produits sont destinés à financer des produits environnementaux et/ou sociaux, pour autant : (i) que ces émetteurs ne causent de préjudice important à aucun des objectifs
environnementaux ou sociaux définis par le règlement (UE) 2019/2088 et (ii) qu’ils respectent les pratiques de bonne gouvernance. Les Objectifs de développement durable promus par les Nations Unies visent à favoriser un développement mondial plus conscient et durable, y compris le bien-être des êtres humains, la protection et la prise en charge de l'environnement naturel et les réponses aux grands problèmes sociaux.
Le fonds ne promeut toutefois pas les objectifs environnementaux spécifiques énoncés dans le règlement (UE) 2020/852. Les investissements durables réalisés par les fonds ne tiennent pas compte des critères techniques de l’UE relatifs aux activités économiques durables sur le plan environnemental. La proportion d’investissements durables sur le plan environnemental du fonds au sens du règlement (UE) 2020/852 est actuellement de 0 %. Cependant, le fonds est susceptible d’investir dans des activités susceptibles d’être considérées comme respectueuses de l’environnement selon sa politique d’investissement, mais ces investissements ne sont pas en soi décisifs pour la réalisation des caractéristiques environnementales du fonds.
Les sociétés émettrices dont l'organe administratif ne compte aucun membre indépendant ne sont pas considérées comme ayant de bonnes pratiques de gouvernance.
Chaque mois, ces émetteurs sont identifiés parmi ceux inclus dans les services « MSCI ESG Ratings - World », « MSCI ESG Ratings - Emerging Markets » et « MSCI ESG Ratings - Fixed Income Corporate » de « MSCI ESG Research ».
En outre, la liste mensuelle peut également inclure d’autres émetteurs qui font l’objet (i) d’investigations comptables, réalisées en interne ou par des autorités externes, ainsi que de sanctions ou de condamnations pour des questions liées aux procédures comptables ou (ii) de procédures de faillite ou de liquidation.
Ces émetteurs sont exclus ex-ante de l’univers d’investissement du fonds et, au moment de la valorisation du portefeuille, un contrôle
ex post est également effectué sur la base de la dernière liste disponible des émetteurs exclus. | Además, el fondo invierte al menos el 90% de su patrimonio en emisores presentes en su índice de referencia que han sido identificados sobre la base de criterios medioambientales, sociales y de gobierno corporativo. Eurizon Capital S.A. integra criterios ASG mediante la selección de índices de referencia que tienen en cuenta factores medioambientales y/o sociales y que respetan las prácticas de buena gobernanza (los denominados «índices de referencia ASG»). Eurizon Capital S.A. analiza la metodología utilizada para calcular el índice designado como referencia con el fin de (i) garantizar la adaptación a las características medioambientales o sociales promovidas por el producto y la estrategia de inversión; y (ii) evaluar los criterios de integración ASG con respecto a los índices de mercado pertinentes.
Además, el fondo no invierte en emisores de sectores considerados «no social y medioambientalmente responsables», es decir, (i) en empresas caracterizadas por una clara implicación directa en la fabricación de armas no convencionales; (ii) en empresas que obtengan al menos el 25% de su volumen de negocios de actividades mineras o de producción de electricidad vinculadas al carbón térmico; (iii) en empresas que obtengan al menos el 10% de su volumen de negocios de la extracción de arenas bituminosas.
Además, el fondo no invierte en emisores «críticos» para los que se activa un proceso de escalamiento. Los emisores «críticos» son aquellas empresas con mayor exposición a los riesgos medioambientales, sociales y de gobierno corporativo, es decir, con un nivel de calificación de sostenibilidad ASG inferior en el universo de inversión de renta variable y renta fija.
El fondo tendrá una proporción mínima del 40% de inversiones sostenibles, mediante inversiones en emisores cuyas actividades contribuyan a uno o varios de los Objetivos de Desarrollo sostenible (ODS) o inversiones en bonos cuyos ingresos se destinen a financiar proyectos medioambientales y/o sociales, siempre que (i) no perjudiquen significativamente a ninguno de los objetivos medioambientales o sociales establecidos en el Reglamento (UE) 2019/2088; y (ii) cumplan las prácticas de buena gobernanza. Los Objetivos de Desarrollo Sostenible promovidos por las Naciones Unidas metodología pretenden fomentar un desarrollo mundial más consciente y duradero, que incluya el bienestar de los seres humanos, la protección y el cuidado del medioambiente natural y respuestas a los principales problemas sociales.
No obstante, el fondo no promueve los objetivos medioambientales específicos estipulados en el Reglamento (UE) 2020/852. En efecto, las inversiones sostenibles realizadas por los fondos no contemplan los criterios técnicos de la Unión Europea relativos a las actividades económicas medioambientalmente sostenibles. Actualmente, la proporción de inversiones medioambientalmente sostenibles del fondo en el sentido del Reglamento (UE) 2020/852 es igual al 0%. No obstante, el fondo podría invertir en actividades que se consideren sostenibles desde una perspectiva medioambiental con arreglo a su política de inversión. Sin embargo, dichas inversiones no son decisivas per se para el logro de las características medioambientales del fondo.
Se considera que las empresas emisoras que no tienen miembros independientes en su órgano de administración no tienen buenas prácticas de gobernanza.
Cada mes, dichos emisores se identifican entre los incluidos en los servicios «MSCI ESG Ratings - World», «MSCI ESG Ratings - Emerging Markets» y «MSCI ESG Ratings - Fixed Income Corporate» de «MSCI ESG Research».
Además, la lista mensual también puede incluir otros Emisores que presenten (i) investigaciones contables, internas o por parte de autoridades externas, así como la presencia de sanciones o condenas por asuntos relacionados con procedimientos contables; o (ii) procedimientos de quiebra o liquidación.
Dichos emisores son excluidos a priori del universo de inversión del fondo y, en el momento de la valoración de la cartera, también se realiza un control a posteriori basado en la última lista disponible de emisores excluidos. | En outre, le fonds investit au moins 90 % de ses actifs dans des émetteurs figurant dans son indice de référence et sélectionnés sur la base de critères environnementaux, sociaux et de gouvernance d'entreprise. Eurizon Capital S.A. prend en compte les critères ESG en sélectionnant des indices de référence qui tiennent compte de facteurs environnementaux et/ou sociaux et des pratiques de bonne gouvernance (appelés « indices ESG »). Eurizon Capital S.A. analyse la méthodologie utilisée pour calculer l'indice retenu comme référence afin (i) de garantir l'alignement par rapport aux caractéristiques environnementales ou sociales promues par le produit et la stratégie d'investissement et (ii) d'évaluer les critères d'intégration ESG par rapport aux indices de marché pertinents.
En outre, le fonds n'investit pas dans des émetteurs opérant dans des secteurs considérés comme « non responsables sur le plan social et environnemental », c'est-à-dire (i) dans des sociétés caractérisées par une implication directe évidente dans la fabrication d'armes non conventionnelles, (ii) dans des sociétés qui tirent au moins 25 % de leur chiffre d'affaires d'activités minières ou de production d'électricité liées au charbon thermique ou (iii) dans des sociétés qui tirent au moins 10 % de leur chiffre d'affaires de l'extraction de sables bitumineux. En outre, le fonds n’investit pas dans des émetteurs « critiques » pour lesquels un processus de remontée du problème a été lancé. Les émetteurs critiques sont les entreprises présentant l’exposition la plus élevée aux risques environnementaux, sociaux et de gouvernance, c’est-à-dire celles qui possèdent une note de durabilité ESG moins élevée dans l’univers d’investissement en actions et obligations.
Le fonds possèdera au moins 40 % d’investissements durables en investissant dans des émetteurs dont les activités contribuent à un ou plusieurs des objectifs de développement durable (ODD) ou dans des obligations dont les produits sont destinés à financer des produits environnementaux et/ou sociaux, pour autant : (i) que ces émetteurs ne causent de préjudice important à aucun des objectifs
environnementaux ou sociaux définis par le règlement (UE) 2019/2088 et (ii) qu’ils respectent les pratiques de bonne gouvernance. Les Objectifs de développement durable promus par les Nations Unies visent à favoriser un développement mondial plus conscient et durable, y compris le bien-être des êtres humains, la protection et la prise en charge de l'environnement naturel et les réponses aux grands problèmes sociaux.
Le fonds ne promeut toutefois pas les objectifs environnementaux spécifiques énoncés dans le règlement (UE) 2020/852. Les investissements durables réalisés par les fonds ne tiennent pas compte des critères techniques de l’UE relatifs aux activités économiques durables sur le plan environnemental. La proportion d’investissements durables sur le plan environnemental du fonds au sens du règlement (UE) 2020/852 est actuellement de 0 %. Cependant, le fonds est susceptible d’investir dans des activités susceptibles d’être considérées comme respectueuses de l’environnement selon sa politique d’investissement, mais ces investissements ne sont pas en soi décisifs pour la réalisation des caractéristiques environnementales du fonds.
Les sociétés émettrices dont l'organe administratif ne compte aucun membre indépendant ne sont pas considérées comme ayant de bonnes pratiques de gouvernance.
Chaque mois, ces émetteurs sont identifiés parmi ceux inclus dans les services « MSCI ESG Ratings - World », « MSCI ESG Ratings - Emerging Markets » et « MSCI ESG Ratings - Fixed Income Corporate » de « MSCI ESG Research ».
En outre, la liste mensuelle peut également inclure d’autres émetteurs qui font l’objet (i) d’investigations comptables, réalisées en interne ou par des autorités externes, ainsi que de sanctions ou de condamnations pour des questions liées aux procédures comptables ou (ii) de procédures de faillite ou de liquidation.
Ces émetteurs sont exclus ex-ante de l’univers d’investissement du fonds et, au moment de la valorisation du portefeuille, un contrôle
ex post est également effectué sur la base de la dernière liste disponible des émetteurs exclus. | fr | es |
DOLFIN3471 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
The objective of the sub-fund Amundi Funds Global Perspectives is to achieve a combination of income and capital growth (total return).
Specifically, the sub-fund seeks to outperform (after applicable fees) the EONIA (compounded daily) index over any given 5 year period, while offering controlled risk exposure. For indicative purposes, given the risk profile, the return is expected to be in excess (before applicable fees) of EONIA+ 5% per annum. Until 23 May 2017, the sub-fund invested as a feeder fund in Amundi Patrimoine.
The sub-fund invests in all types of asset classes of issuers from around the world, including emerging markets. Until 23 May 2017, the sub-fund could be indirectly invested in these products through UCITS via Amundi Patrimoine.
Specifically, the sub-fund may invest between 0% and 100% of net assets in equities, bonds, convertible bonds, deposits, money market instruments and in products that expose to currencies. The sub-fund’s may also invest up to 10% each in products exposing to commodities and real estates. The sub-fund’s exposure to MBSs and ABSs is limited to 20% of net assets. Until 23 May 2017, the sub-fund was exposed to these securities (except for MBSs and ABSs) and instruments as a feeder fund of Amundi Patrimoine.
The modified duration of the bond and money market portfolio ranges f rom -2 to +10. There are no ratings, sectors or market capitalization constraints on these investments. While complying with the above policies, the sub-fund may also invest up to 10% of net assets in UCITS/UCIs.
The sub-fund’s exposure to contingent convertible bonds is limited to 10% of net assets.
The sub-fund may use derivatives for arbitrage, hedging and efficient portfolio management, and to increase its net exposure.
In addition to core derivatives, the sub-fund may use credit derivatives (single issuer and on indices) and total return swaps (authorized as from 24 May 2017) composed of underlying assets discretionary selected by the Investment Manager. These will be used for obtaining exposure to a specific basket of securities or for partially hedging any exposure.
The sub-fund’s investment team analyses macroeconomic trends and uses valuation of asset classes (top-down) to identify the asset classes that appear likely to offer the best risk-adjusted returns. The investment team then constructs a highly diversified portfolio that can be flexibly adapted to market movements with a view to operating sustainable performance. This may involve taking both strategic and tactical positions as well as arbitrage on any equity, interest rate and currency markets.
The Investment manager of the both sub-funds is Amundi Asset management.
Fees directly charged to Amundi Funds Global Perspectives amount to EUR 8,893,557 which is summarized in the table below in terms of percentages of the average NAV of Amundi Funds Global Perspectives share-classes: | El objetivo del subfondo Amundi Funds Global Perspectives es lograr una combinación de crecimiento de los ingresos y del capital (rentabilidad total).
Específicamente, el subfondo busca batir (después de las comisiones aplicables) al índice EONIA (diario compuesto) durante cualquier periodo de cinco años, al tiempo que ofrece una exposición controlada al riesgo. A efectos indicativos, en vista del perfil de riesgo, se espera que la rentabilidad sea superior (antes de las comisiones aplicables) a la del índice EONIA + 5% anual. Hasta el 23 de mayo de 2017, el subfondo invirtió como fondo subordinado en Amundi Patrimoine.
El subfondo invierte en todas las clases de activos de emisores de todo el mundo, incluido de los mercados emergentes. Hasta el 23 de mayo de 2017, el subfondo podría invertir indirectamente en estos productos mediante OICVM a través de Amundi Patrimoine.
Específicamente, el subfondo podrá invertir entre el 0% y el 100% del patrimonio neto en renta variable, renta fija, bonos convertibles, depósitos, instrumentos del mercado monetario y en productos con exposición a divisas. El subfondo también podrá invertir hasta un 10% en cada caso en productos con exposición a materias primas y activos inmobiliarios. La exposición del subfondo a MBS y ABS se limitará a un 20% del patrimonio neto. Hasta el 23 de mayo de 2017, el subfondo estuvo expuesto a estos títulos (a excepción de MBS y ABS) e instrumentos en calidad de fondo subordinado de Amundi Patrimoine.
La duración modificada de la cartera de bonos e instrumentos del mercado monetario oscilará entre -2 y +10. No existen limitaciones en cuanto a calificación, sectores o capitalización bursátil para estas inversiones. Al tiempo que cumple con las políticas antes mencionadas, el subfondo también podrá invertir hasta un 10% de su patrimonio neto en OICVM/OIC.
La exposición del subfondo a bonos convertibles contingentes se limitará a un 10% del patrimonio neto.
El subfondo podrá emplear derivados a efectos de arbitraje, cobertura y gestión eficiente de la cartera, y para incrementar su exposición neta.
Además de derivados principales, el subfondo podrá emplear derivados de crédito (sobre un emisor único y sobre índices) y swaps de rentabilidad total (autorizados a partir del 24 de mayo de 2017), compuestos por activos subyacentes seleccionados de forma discrecional por el Gestor de inversiones. Estos se utilizarán para exponerse a una determinada cesta de valores o para cubrir parcialmente cualquier exposición.
El equipo de inversión del subfondo analiza las tendencias macroeconómicas y emplea la valoración de las clases de activos (descendente) para identificar las clases de activos que parece probable que ofrezcan las mejores rentabilidades ajustadas al riesgo. El equipo de inversión construirá entonces una cartera ampliamente diversificada que pueda adaptarse mejor a los movimientos del mercado con el objetivo de operar una rentabilidad sostenible. Esto podrá incluir adoptar posiciones tanto estratégicas como tácticas así como arbitraje sobre cualquier mercado de renta variable, tipos de interés o divisas.
El Gestor de inversiones de ambos subfondos es Amundi Asset Management.
En la siguiente tabla se resumen, en términos de VL porcentual medio de sus clases de acciones, las comisiones cobradas directamente a Amundi Funds Global Perspectives internacional, que ascienden a 8,893,557 EUR: | The objective of the sub-fund Amundi Funds Global Perspectives is to achieve a combination of income and capital growth (total return).
Specifically, the sub-fund seeks to outperform (after applicable fees) the EONIA (compounded daily) index over any given 5 year period, while offering controlled risk exposure. For indicative purposes, given the risk profile, the return is expected to be in excess (before applicable fees) of EONIA+ 5% per annum. Until 23 May 2017, the sub-fund invested as a feeder fund in Amundi Patrimoine.
The sub-fund invests in all types of asset classes of issuers from around the world, including emerging markets. Until 23 May 2017, the sub-fund could be indirectly invested in these products through UCITS via Amundi Patrimoine.
Specifically, the sub-fund may invest between 0% and 100% of net assets in equities, bonds, convertible bonds, deposits, money market instruments and in products that expose to currencies. The sub-fund’s may also invest up to 10% each in products exposing to commodities and real estates. The sub-fund’s exposure to MBSs and ABSs is limited to 20% of net assets. Until 23 May 2017, the sub-fund was exposed to these securities (except for MBSs and ABSs) and instruments as a feeder fund of Amundi Patrimoine.
The modified duration of the bond and money market portfolio ranges f rom -2 to +10. There are no ratings, sectors or market capitalization constraints on these investments. While complying with the above policies, the sub-fund may also invest up to 10% of net assets in UCITS/UCIs.
The sub-fund’s exposure to contingent convertible bonds is limited to 10% of net assets.
The sub-fund may use derivatives for arbitrage, hedging and efficient portfolio management, and to increase its net exposure.
In addition to core derivatives, the sub-fund may use credit derivatives (single issuer and on indices) and total return swaps (authorized as from 24 May 2017) composed of underlying assets discretionary selected by the Investment Manager. These will be used for obtaining exposure to a specific basket of securities or for partially hedging any exposure.
The sub-fund’s investment team analyses macroeconomic trends and uses valuation of asset classes (top-down) to identify the asset classes that appear likely to offer the best risk-adjusted returns. The investment team then constructs a highly diversified portfolio that can be flexibly adapted to market movements with a view to operating sustainable performance. This may involve taking both strategic and tactical positions as well as arbitrage on any equity, interest rate and currency markets.
The Investment manager of the both sub-funds is Amundi Asset management.
Fees directly charged to Amundi Funds Global Perspectives amount to EUR 8,893,557 which is summarized in the table below in terms of percentages of the average NAV of Amundi Funds Global Perspectives share-classes: | en | es |
DOLFIN3472 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# The accounting period starts 1st January and ends 31st December of a calendar year.
The performance fee may only be withdrawn if the net asset value per unit at the end of the accounting period exceeds the maximum net asset value per unit of the sub-fund achieved at the end of the five preceding accounting periods.
If the number of preceding accounting periods exceeds five the high water mark for the subsequent accounting periods is determined on the basis of the five most recent preceding accounting periods, but no prior accounting periods.
The performance fee is determined on each valuation day by comparing the difference between the current unit value and the highest unit value achieved at the end of the five previous accounting periods on the basis of the units currently in circulation. To determine the unit value performance, any distribution payments that may have been made in the meantime are taken into account accordingly, i.e. these are added to the current unit value reduced by the distribution.
If the current net asset value per unit exceeds the applicable high water mark the accrued total amount changes in accordance with the method described above. If the value of the current unit falls below the high water mark the accrued total amount will be closed.
The amount calculated on the last valuation day of the accounting period may, if a payable performance fee is available, be withdrawn from the sub-fund at the end of the financial year at the expense of the relevant unit class. | # Die Abrechnungsperiode beginnt am 1. Januar und endet am 31. Dezember eines Kalenderjahres.
Die erfolgsabhängige Vergütung kann nur entnommen werden, wenn der Anteilwert am Ende der Abrechnungsperiode den Höchststand des Anteilwertes des Teilfonds, der am Ende der fünf vorhergehenden Abrechnungsperioden erzielt wurde, übersteigt.
Die Ermittlung der High-Water-Mark für die nachfolgenden Abrechnungsperioden, sofern die Anzahl der vorhergehenden Abrechnungsperioden fünf übersteigt, erfolgt nach der Maßgabe, dass jeweils die fünf aktuellsten vorhergehenden Abrechnungsperioden herangezogen werden, jedoch nicht ältere Abrechnungsperioden.
Die Performance Fee wird bewertungstäglich durch den Vergleich der Differenz des aktuellen Anteilwertes zum höchsten Anteilwert der am Ende der fünf vorangegangenen Abrechnungsperioden erzielt wurde auf Basis der aktuell umlaufenden Anteile ermittelt. Zur Ermittlung der Anteilwertentwicklung werden evtl. zwischenzeitlich erfolgte Ausschüttungszahlungen entsprechend berücksichtigt, d.h. diese werden dem aktuellen, um die Ausschüttung reduzierten, Anteilwert hinzugerechnet.
An den Bewertungstagen, an denen der aktuelle Anteilwert die jeweils gültige High-Water-Mark übertrifft, verändert sich der abgegrenzte Gesamtbetrag nach der oben dargestellten Methode. An den Bewertungstagen, an denen der aktuelle Anteilwert die High–Water-Mark unterschreitet, wird der abgegrenzte Gesamtbetrag aufgelöst.
Der zum letzten Bewertungstag der Abrechnungsperiode berechnete Betrag kann, sofern eine auszahlungsfähige Performance Fee vorliegt, dem Teilfonds zulasten der betreffenden Anteilklasse am Ende des Geschäftsjahres entnommen werden. | # The accounting period starts 1st January and ends 31st December of a calendar year.
The performance fee may only be withdrawn if the net asset value per unit at the end of the accounting period exceeds the maximum net asset value per unit of the sub-fund achieved at the end of the five preceding accounting periods.
If the number of preceding accounting periods exceeds five the high water mark for the subsequent accounting periods is determined on the basis of the five most recent preceding accounting periods, but no prior accounting periods.
The performance fee is determined on each valuation day by comparing the difference between the current unit value and the highest unit value achieved at the end of the five previous accounting periods on the basis of the units currently in circulation. To determine the unit value performance, any distribution payments that may have been made in the meantime are taken into account accordingly, i.e. these are added to the current unit value reduced by the distribution.
If the current net asset value per unit exceeds the applicable high water mark the accrued total amount changes in accordance with the method described above. If the value of the current unit falls below the high water mark the accrued total amount will be closed.
The amount calculated on the last valuation day of the accounting period may, if a payable performance fee is available, be withdrawn from the sub-fund at the end of the financial year at the expense of the relevant unit class. | en | de |
DOLFIN3473 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The investment management of the Fund is effected under the control and the responsibility of the Management Company.
In order to implement the investment policy of each Sub-Fund, the Management Company has delegated, under its permanent supervision and responsibility, the management of the assets of the Sub-Funds to the Investment Manager.
Pursuant to the amended and restated Investment Management and Advisory Agreement, the Investment Manager has discretion, on a day-to-day basis and subject to the overall control and ultimate responsibility of the Management Company, to purchase and sell securities and otherwise to manage the Sub-Funds’ portfolios.
The Investment Manager, in the execution of its duties and the exercise of its powers, shall be responsible for the compliance of the Sub-Funds with their investment policies and restrictions.
The Investment Manager is a limited liability partnership incorporated in the United Kingdom and regulated by the Financial Conduct Authority. Its primary activity involves the provision of investment management services to various investment vehicles. Prior to 2 April 2012 the Fund’s investment manager and advisor was BlueBay Asset Management Ltd, on 2 April 2012 BlueBay Asset Management Ltd transferred its entire asset management business to BlueBay Asset Management LLP. The Investment Manager is a wholly owned subsidiary of Royal Bank of Canada.
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## Sub-Investment Manager | Die Anlageverwaltung des Fonds erfolgt unter der Kontrolle und Verantwortung der Verwaltungsgesellschaft.
Zur Umsetzung der Anlagepolitik jedes Teilfonds hat die Verwaltungsgesellschaft die Verwaltung der Vermögenswerte der Teilfonds unter ihrer ständigen Aufsicht und Verantwortung an den Anlageverwalter übertragen.
Im Rahmen des Anlageverwaltungs- und -beratungsvertrags in der aktuellen und neu formulierten Fassung kann der Anlageverwalter nach seinem Ermessen auf täglicher Basis und vorbehaltlich der Gesamtkontrolle und der obersten Verantwortung der Verwaltungsgesellschaft Wertpapiere kaufen und verkaufen und die Portfolios der Teilfonds anderweitig managen.
Der Anlageverwalter ist in der Ausübung seiner Pflichten und der Wahrnehmung seiner Rechte dafür verantwortlich, dass jeder Teilfonds seine Anlagepolitik und -beschränkungen einhält.
Der Anlageverwalter ist eine in Großbritannien gegründete und von der Financial Conduct Authority beaufsichtigte Limited Liability Partnership. Zu seinen Hauptaufgaben zählt die Erbringung von Anlageverwaltungsdiensten für diverse Anlagevehikel. Bis zum 2. April 2012 war der Fondsmanager und Anlageberater BlueBay Asset Management Ltd, am 2. April 2012 übertrug jedoch BlueBay Asset Management Ltd sein gesamtes Vermögensverwaltungsgeschäft an BlueBay Asset Management LLP. Der Anlageverwalter ist eine hundertprozentige Tochtergesellschaft der Royal Bank of Canada.
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## Unteranlageverwalter | The investment management of the Fund is effected under the control and the responsibility of the Management Company.
In order to implement the investment policy of each Sub-Fund, the Management Company has delegated, under its permanent supervision and responsibility, the management of the assets of the Sub-Funds to the Investment Manager.
Pursuant to the amended and restated Investment Management and Advisory Agreement, the Investment Manager has discretion, on a day-to-day basis and subject to the overall control and ultimate responsibility of the Management Company, to purchase and sell securities and otherwise to manage the Sub-Funds’ portfolios.
The Investment Manager, in the execution of its duties and the exercise of its powers, shall be responsible for the compliance of the Sub-Funds with their investment policies and restrictions.
The Investment Manager is a limited liability partnership incorporated in the United Kingdom and regulated by the Financial Conduct Authority. Its primary activity involves the provision of investment management services to various investment vehicles. Prior to 2 April 2012 the Fund’s investment manager and advisor was BlueBay Asset Management Ltd, on 2 April 2012 BlueBay Asset Management Ltd transferred its entire asset management business to BlueBay Asset Management LLP. The Investment Manager is a wholly owned subsidiary of Royal Bank of Canada.
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## Sub-Investment Manager | en | de |
DOLFIN3474 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
### Investment objective and policy
The fund aims to provide capital growth over the long term.
Performance target: To outperform the NASDAQ Biotechnology Total Return Index by 2% per annum, before the deduction of charges, over any 5 year period.
The fund invests at least 80% of its assets in shares (equities) and equity-related securities of companies, which are biotechnology or biotechnology-related, in any country.
The Investment Manager may use derivatives (complex financial instruments) with the aim of making investment gains in line with the fund’s objective, to reduce risk or to manage the fund more efficiently.
The fund is actively managed with reference to the NASDAQ Biotechnology Total Return Index, which is broadly representative of the companies in which it may invest, as this forms the basis of the fund’s performance target and the level above which performance fees may be charged (if applicable). The Investment Manager has discretion to choose investments for the fund with weightings ditferent to the index or not in the index, but at times the fund may hold investments similar to the index. | ### Anlageziel und Anlagepolitik
Der Fonds beabsichtigt, langfristig Kapitalzuwachs zu erzielen.
Performanceziel: Outperformance gegenüber dem NASDAQ Biotechnology Total Return Index um 2 % p. a. vor Abzug von Gebühren über einen beliebigen Zeitraum von fünf Jahren.
Der Fonds investiert mindestens 80 % seines Vermögens in Aktien und aktienähnliche Wertpapiere von Unternehmen in beliebigen Ländern, die im Bereich Biotechnologie tätig sind oder damit in Zusammenhang stehen.
Der Anlageverwalter kann Derivate (komplexe Finanzinstrumente) einsetzen, um im Einklang mit dem Ziel des Fonds Anlagegewinne zu erzielen, das Risiko zu reduzieren oder den Fonds effizienter zu verwalten.
Der Fonds wird aktiv unter Bezugnahme auf den NASDAQ Biotechnology Total Return Index verwaltet, der weitgehend repräsentativ für die Unternehmen ist, in die er investieren darf, da dieser die Grundlage für das Performanceziel des Fonds und den oben genannten Schwellenwert darstellt, bei dessen Überschreitung (gegebenenfalls) Performancegebühren erhoben werden können. Der Anlageverwalter kann in seinem Ermessen Anlagen für den Fonds mit anderen Gewichtungen als im Index oder nicht im Index enthaltene Anlagen auswählen, der Fonds kann jedoch gelegentlich ähnliche Anlagen halten wie der Index. | ### Investment objective and policy
The fund aims to provide capital growth over the long term.
Performance target: To outperform the NASDAQ Biotechnology Total Return Index by 2% per annum, before the deduction of charges, over any 5 year period.
The fund invests at least 80% of its assets in shares (equities) and equity-related securities of companies, which are biotechnology or biotechnology-related, in any country.
The Investment Manager may use derivatives (complex financial instruments) with the aim of making investment gains in line with the fund’s objective, to reduce risk or to manage the fund more efficiently.
The fund is actively managed with reference to the NASDAQ Biotechnology Total Return Index, which is broadly representative of the companies in which it may invest, as this forms the basis of the fund’s performance target and the level above which performance fees may be charged (if applicable). The Investment Manager has discretion to choose investments for the fund with weightings ditferent to the index or not in the index, but at times the fund may hold investments similar to the index. | en | de |
DOLFIN3475 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Investissement : 10.000 USD | Si vous sortez après 1 an | Si vous sortez après 5 ans |
| --- | --- | --- |
| Coûts totaux | 121 USD | 707 USD |
| Incidence des coûts annuels (*) | 1,2 % | 1,2 % | | | Inversión: 10.000 USD | En caso de salida después de 1 año | En caso de salida después de 5 años |
| --- | --- | --- |
| Costes totales | 121 USD | 707 USD |
| Incidencia anual de los costes (*) | 1,2% | 1,2% | | | Investissement : 10.000 USD | Si vous sortez après 1 an | Si vous sortez après 5 ans |
| --- | --- | --- |
| Coûts totaux | 121 USD | 707 USD |
| Incidence des coûts annuels (*) | 1,2 % | 1,2 % | | fr | es |
DOLFIN3476 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
## Procedure for liquidation of the Fund
With the transfer of the right of disposal over the Fund to the Custodian, the issue and redemption of units will cease and the Fund will be liquidated.
The proceeds from the sale of the Fund's assets, less any costs that are still to be borne by the Fund and the costs resulting from the liquidation procedure, shall be distributed to investors, who shall be entitled to receive payment of the liquidation proceeds in proportion to their number of units held in the Fund.
The Company shall issue a liquidation report on the day on which its right of management expires, which shall comply with the requirements applicable to the annual report. The liquidation report shall be published in the German Federal Gazette no later than three months after the relevant date of liquidation of the Investment Fund. Whilst the custodian is winding up the Fund, it shall issue reports annually, as well as on the day on which the winding up process is completed, which shall comply with the requirements applicable to the annual report. These reports shall likewise be published in the Ger- man Federal Gazette no later than three months after the relevant date. | ## Verfahren bei Auflösung des Fonds
Mit dem Übergang des Verfügungsrechts über den Fonds auf die Verwahrstelle wird die Ausgabe und Rücknahme von Anteilen eingestellt und der Fonds abgewickelt.
Der Erlös aus der Veräußerung der Vermögenswerte des Fonds abzüglich der noch durch den Fonds zu tragenden Kosten und der durch die Auflösung verursachten Kosten werden an die Anleger verteilt, wobei diese in Höhe ihrer jeweiligen Anteile am Fonds Ansprüche auf Auszahlung des Liquidationser- löses haben.
Die Gesellschaft erstellt auf den Tag, an dem ihr Verwaltungsrecht erlischt, einen Auflösungsbericht, der den Anforderungen an einen Jahresbericht entspricht. Spätestens drei Monate nach dem Stichtag der Auflösung des Fonds wird der Auflösungsbericht im Bundesanzeiger bekannt gemacht. Während die Verwahrstelle den Fonds abwickelt, erstellt sie jährlich sowie auf den Tag, an dem die Abwicklung beendet ist, einen Bericht, der den Anforderungen an einen Jahresbericht entspricht. Diese Berichte sind ebenfalls spätestens drei Monate nach dem Stichtag im Bundesanzeiger bekannt zu machen. | ## Procedure for liquidation of the Fund
With the transfer of the right of disposal over the Fund to the Custodian, the issue and redemption of units will cease and the Fund will be liquidated.
The proceeds from the sale of the Fund's assets, less any costs that are still to be borne by the Fund and the costs resulting from the liquidation procedure, shall be distributed to investors, who shall be entitled to receive payment of the liquidation proceeds in proportion to their number of units held in the Fund.
The Company shall issue a liquidation report on the day on which its right of management expires, which shall comply with the requirements applicable to the annual report. The liquidation report shall be published in the German Federal Gazette no later than three months after the relevant date of liquidation of the Investment Fund. Whilst the custodian is winding up the Fund, it shall issue reports annually, as well as on the day on which the winding up process is completed, which shall comply with the requirements applicable to the annual report. These reports shall likewise be published in the Ger- man Federal Gazette no later than three months after the relevant date. | en | de |
DOLFIN3477 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
A MMF shall not hold more than 10 % of the Money Market Instruments, securitisations and ABCPs issued by a single body. The limit laid down in paragraph 1 shall not apply in respect of holdings of Money Market Instruments issued or guaranteed by the European Union, national, regional and local administrations of the Member States or their central banks, the European Central Bank, the European Investment Bank, the European Investment Fund, the European Stability Mechanism, the European Financial Stability Facility, a central authority or central bank of a third country, the International Monetary Fund, the International Bank for Reconstruction and Development, the Council of Europe Development Bank, the European Bank for Reconstruction and Development, the Bank for International Settlements, or any other relevant international financial institution or organisation to which one or more Member States belong.
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##### Portfolio rules for short-term MMFs | L’FCM non detiene più del 10% di Strumenti del mercato monetario, cartolarizzazioni e ABCP emessi da un unico organismo. Il limite fissato al paragrafo 1 non si applica alla detenzione di Strumenti del mercato monetario emessi o garantiti dall’Unione europea, dalle amministrazioni nazionali, regionali e locali degli Stati membri o dalle loro banche centrali, dalla Banca centrale europea, dalla Banca europea per gli investimenti, dal Fondo europeo per gli investimenti, dal Meccanismo europeo di stabilità, dal Fondo europeo di stabilità finanziaria, da un’autorità centrale o dalla banca centrale di un paese terzo, dal Fondo monetario internazionale, dalla Banca internazionale per la ricostruzione e lo sviluppo, dalla Banca di sviluppo del Consiglio d’Europa, dalla Banca europea per la ricostruzione e lo sviluppo, dalla Banca dei regolamenti internazionali oppure da qualsiasi altro ente od organismo finanziario internazionale pertinente di cui fanno parte uno o più Stati membri.
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##### Norme in materia di portafoglio degli FCM a breve termine | A MMF shall not hold more than 10 % of the Money Market Instruments, securitisations and ABCPs issued by a single body. The limit laid down in paragraph 1 shall not apply in respect of holdings of Money Market Instruments issued or guaranteed by the European Union, national, regional and local administrations of the Member States or their central banks, the European Central Bank, the European Investment Bank, the European Investment Fund, the European Stability Mechanism, the European Financial Stability Facility, a central authority or central bank of a third country, the International Monetary Fund, the International Bank for Reconstruction and Development, the Council of Europe Development Bank, the European Bank for Reconstruction and Development, the Bank for International Settlements, or any other relevant international financial institution or organisation to which one or more Member States belong.
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##### Portfolio rules for short-term MMFs | en | it |
DOLFIN3478 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
- Customer satisfaction surveys
- 2021: Sub-Fund (59%) Index (47%);
- 2020: Sub-Fund (38%) Index (52%); ISRD sustainability indicator 2021 (0-100)/Risk scale from (1 to 5): 28/3Mandarine Gestion undertakes to provide comprehensive information on the Sub-Fund’s alignment with the European Taxonomy if companies have communicated this in their public documentation, by the end of 2023. | - Enquêtes de satisfaction clients
- 2021 : Compartiment (59%) Indice (47%) ;
- 2020: Compartiment (38%) Indice (52%) Indicateur de durabilité "ISRD" 2021 (0-100) / Echelle de risques de (1 à 5) : 28/3Mandarine Gestion s’engage à fournir l'exhaustivité des informations sur l'alignement du Compartiment à la Taxonomie européenne lorsque les entreprises auront communiqué dans leurs documentations publiques, d'ici fin 2023. | - Customer satisfaction surveys
- 2021: Sub-Fund (59%) Index (47%);
- 2020: Sub-Fund (38%) Index (52%); ISRD sustainability indicator 2021 (0-100)/Risk scale from (1 to 5): 28/3Mandarine Gestion undertakes to provide comprehensive information on the Sub-Fund’s alignment with the European Taxonomy if companies have communicated this in their public documentation, by the end of 2023. | en | fr |
DOLFIN3479 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
A company that is included in a group for the purposes of consolidated accounts, as defined in Directive 83/349/EEC or in accordance with recognised international accounting rules, is regarded as a single body for the purpose of calculating the investment limits referred to above in this paragraph 3.
The Company may invest up to 20% of the net assets of any Fund in transferable securities and/or money market instruments within the same group.
- For Funds using the commitment approach methodology as described in the relevant Fund’s Information Sheet in Annex 2, the Company will ensure that each Fund’s global exposure relating to derivative instruments does not exceed its total net assets. The global exposure to the underlying assets must not exceed the investment limits referred to in this Section II. When a transferable security or money market instrument embeds a derivative, the latter must be taken into account when complying with this paragraph 4. Exposure is calculated taking into account the current value of the underlying assets, the counterparty risk, future market movements and the time available to liquidate the position. | Eine Gesellschaft, die zum Zweck eines konsolidierten Abschlusses Teil einer Gruppe ist, entweder gemäß Definition in Richtlinie 83/349/EWG oder gemäß anerkannter internationaler Rechnungslegungsstandards, wird für die Berechnung der oben in Absatz 3 beschriebenen Anlagegrenzen als einzelne Einrichtung betrachtet.
Die Gesellschaft kann bis zu 20 % des Nettovermögens eines Fonds in übertragbare Wertpapiere und/oder Geldmarktinstrumente derselben Gruppe anlegen.
- Für Fonds, die, so wie in den maßgeblichen Fondsinformationen in Anhang 2 beschrieben, den Commitment-Ansatz anwenden, wird die Gesellschaft sicherstellen, dass das Gesamtrisiko des Fonds gegenüber derivativen Instrumenten sein Gesamtnettovermögen nicht übersteigt. Das Gesamtrisiko gegenüber den zugrunde liegenden Vermögenswerten darf die in Abschnitt II beschriebenen Anlagegrenzen nicht übersteigen. Enthält ein übertragbares Wertpapier oder ein Geldmarktinstrument ein Derivat, muss letzteres gemäß diesem Absatz 4 berücksichtigt werden. Bei der Berechnung des Risikos werden der aktuelle Wert der zugrunde liegenden Wertpapiere, das Gegenparteirisiko, künftige Marktentwicklungen und die verfügbare Zeit für die Liquidation der Position berücksichtigt. | A company that is included in a group for the purposes of consolidated accounts, as defined in Directive 83/349/EEC or in accordance with recognised international accounting rules, is regarded as a single body for the purpose of calculating the investment limits referred to above in this paragraph 3.
The Company may invest up to 20% of the net assets of any Fund in transferable securities and/or money market instruments within the same group.
- For Funds using the commitment approach methodology as described in the relevant Fund’s Information Sheet in Annex 2, the Company will ensure that each Fund’s global exposure relating to derivative instruments does not exceed its total net assets. The global exposure to the underlying assets must not exceed the investment limits referred to in this Section II. When a transferable security or money market instrument embeds a derivative, the latter must be taken into account when complying with this paragraph 4. Exposure is calculated taking into account the current value of the underlying assets, the counterparty risk, future market movements and the time available to liquidate the position. | en | de |
DOLFIN3480 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Période de détention recommandée: | 3 ans |
| --- | --- |
| Exemple d'investissement: | 1,000 EUR |
| | Si vous sortez après 1 an | Si vous sortez après 3 ans |
| Scénarios |
| Minimum | Il n'existe aucun rendement minimum garanti. Vous pourriez perdre tout ou partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | 550 EUR | 650 EUR |
| Rendement annuel moyen | -45.10% | -13.20% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | 760 EUR | 720 EUR |
| Rendement annuel moyen | -23.70% | -10.54% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 980 EUR | 980 EUR |
| Rendement annuel moyen | -2.20% | -0.84% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | 1,160 EUR | 1,180 EUR |
| Rendement annuel moyen | 16.10% | 5.55% | | | Periodo de mantenimiento recomendado: | 3 años |
| --- | --- |
| Ejemplo de inversión: | 1,000 EUR |
| | En caso de salida después de 1 año | En caso de salida después de 3 años |
| Escenarios |
| Mínimo | No hay un rendimiento mínimo garantizado. Podría usted perder una parte o la totalidad de tu inversión. |
| Tensión | Lo que podría recibir tras deducir los costes | 550 EUR | 650 EUR |
| Rendimiento medio cada año | -45.10% | -13.20% |
| Desfavorable | Lo que podría recibir tras deducir los costes | 760 EUR | 720 EUR |
| Rendimiento medio cada año | -23.70% | -10.54% |
| Moderado | Lo que podría recibir tras deducir los costes | 980 EUR | 980 EUR |
| Rendimiento medio cada año | -2.20% | -0.84% |
| Favorable | Lo que podría recibir tras deducir los costes | 1,160 EUR | 1,180 EUR |
| Rendimiento medio cada año | 16.10% | 5.55% | | | Période de détention recommandée: | 3 ans |
| --- | --- |
| Exemple d'investissement: | 1,000 EUR |
| | Si vous sortez après 1 an | Si vous sortez après 3 ans |
| Scénarios |
| Minimum | Il n'existe aucun rendement minimum garanti. Vous pourriez perdre tout ou partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | 550 EUR | 650 EUR |
| Rendement annuel moyen | -45.10% | -13.20% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | 760 EUR | 720 EUR |
| Rendement annuel moyen | -23.70% | -10.54% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 980 EUR | 980 EUR |
| Rendement annuel moyen | -2.20% | -0.84% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | 1,160 EUR | 1,180 EUR |
| Rendement annuel moyen | 16.10% | 5.55% | | fr | es |
DOLFIN3481 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# Risks
-
### The Fund may not achieve its investment objective and the value of shares in the Fund may fall.
- Neither First Trust Global Portfolios Management Limited (“FTGPM”) nor any of its affiliates, guarantees the performance or the future returns of the Fund.
- The Fund invests significantly in smart grid companies, which can be negatively affected by factors such as high costs of research and development, high capital requirements for implementation, regulation by various governmental authorities, environmental damage due to a company’s operations or an accident, changes in market sentiment towards infrastructure and terrorist acts.
- There is no assurance that the Index will continue to be calculated and published on the basis described in the Prospectus. In addition, the Fund’s return may not match the return of the Index.
- See also the description of the risks applicable to the Fund in “Risk Factors” in the Prospectus. | # Rischi
-
### È possibile che il Fondo non raggiunga il proprio obiettivo di investimento e che il valore delle sue azioni diminuisca.
- Né First Trust Global Portfolios Management Limited (“FTGPM”), né alcuna delle sue affiliate garantiscono i risultati o i rendimenti futuri del Fondo.
- Il Fondo investe in modo significativo in società della rete intelligente, che possono subire ripercussioni negative da fattori quali i costi elevati della ricerca e sviluppo, i requisiti di capitale elevato per l’attuazione, la regolamentazione daparte delle varie autorità governative, il danno ambientale dovuto alle attività della società o a un suo incidente, le variazioni del sentiment di mercato rispetto alle infrastrutture e ad attacchi terroristici.
- Non vi è alcuna garanzia che l’Indice continuerà a essere calcolato e pubblicato in base ai criteri descritti nel Prospetto. Inoltre, il rendimento del Fondo potrebbe non corrispondere al rendimento dell’Indice.
- Vedere la descrizione dei rischi applicabile al Fondo nei “Fattori di rischio” del Prospetto. | # Risks
-
### The Fund may not achieve its investment objective and the value of shares in the Fund may fall.
- Neither First Trust Global Portfolios Management Limited (“FTGPM”) nor any of its affiliates, guarantees the performance or the future returns of the Fund.
- The Fund invests significantly in smart grid companies, which can be negatively affected by factors such as high costs of research and development, high capital requirements for implementation, regulation by various governmental authorities, environmental damage due to a company’s operations or an accident, changes in market sentiment towards infrastructure and terrorist acts.
- There is no assurance that the Index will continue to be calculated and published on the basis described in the Prospectus. In addition, the Fund’s return may not match the return of the Index.
- See also the description of the risks applicable to the Fund in “Risk Factors” in the Prospectus. | en | it |
DOLFIN3482 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
- Hedge composition varies with:
- Changing risks to the lead idea
- Assessment of the broader market environmentSFDR & EU Taxonomy RegulationThe Sub-Fund neither promotes environmental and/or social characteristics pursuant to Article 8 of SFDR nor has sustainable investment as its objective pursuant to Article 9 of SFDR. Consequently, for the purposes of SFDR it is considered an Article 6 Sub-Fund. | - La composition de l’opération de couverture varie en fonction de :
- l’évolution des risques liés à l’idée d’investissement principale
- l’évaluation de l’environnement de marché dans son ensembleSFDR et Règlement Taxinomie de l’UELe Compartiment ne promeut pas de caractéristiques environnementales ou sociales conformément à l’Article 8 du SFDR et ne poursuit pas non plus d’objectif d’investissement durable conformément à l’Article 9 du SFDR. Il est par conséquent considéré, aux fins du SFDR, comme un Compartiment relevant de l’Article 6. | - Hedge composition varies with:
- Changing risks to the lead idea
- Assessment of the broader market environmentSFDR & EU Taxonomy RegulationThe Sub-Fund neither promotes environmental and/or social characteristics pursuant to Article 8 of SFDR nor has sustainable investment as its objective pursuant to Article 9 of SFDR. Consequently, for the purposes of SFDR it is considered an Article 6 Sub-Fund. | en | fr |
DOLFIN3483 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# The Management Company has delegated the following functions to third parties: investment management, transfer agency and administration as detailed hereinafter.
## Investment Managers
Subject to the overall responsibility of the Directors, the Management Company will provide or procure for each Sub-Fund investment advisory and discretionary investment management services, pursuant to the provisions of the Management Company Services Agreement.
In order to implement the investment policies of each Sub-Fund, the Management Company has delegated, under its permanent supervision and responsibility, the management of assets of each Sub-Fund to the Investment Managers specified in the Appendices.
The Management Company has delegated certain of its investment management duties to AXA Investment Managers Paris under the terms of a Delegation Agreement dated 17 June 2002, to AXA Investment Managers UK Ltd under the terms of a Delegation Agreement dated 14 December 2015 and to AXA Investment Managers Asia Ltd (Hong-Kong SAR) under the terms of a Delegation Agreement dated 6 December 2017 as the same may be amended from time to time.
Subject to its overall responsibility, control and supervision, the Investment Manager may, at its own expense, sub-delegate one or several of its duties in relation to certain Sub-Funds to a Sub-Investment Manager as specified in the Appendices and subject to the prior approval of the Regulatory Authority.
In accordance with the above the investment management duties have been sub-delegated in respect of the Sub-Fund AXA WORLD FUNDS II – North American Equities to AXA Rosenberg Investment Management LLC for all US securities under the terms of a Sub- Delegation Agreement dated 10 November 2015, as amended from time to time.
Pursuant to the relevant Delegation of Investment Business Functions Agreement, the Investment Manager has discretion, on a day-to-day basis and subject to the control and responsibility of the Management Company, to purchase and sell securities and otherwise to manage each Sub-Fund's portfolio.
The Investment Manager as well as the Sub-Investment Manager, in the execution of their duties and the exercise of their powers, shall comply with each Sub-Fund's investment policies and restrictions.
In addition, under the terms of a Delegation Agreement dated 17 June 2002, as the same may be amended from time to time, the Management Company has appointed AXA Investment Managers GS Limited as its agent to carry out its stock lending and repurchase agreements activities.
Subject to their overall responsibility, control and supervision, the Investment Managers may, at their own charge, sub-delegate certain or all of their duties in relation to certain Sub-Funds to a Sub-Investment Manager as specified in the Appendices subject to the CSSF prior approval. | # La Société de Gestion a délégué les fonctions qui suivent à des tiers : la gestion des investissements, les services d’agent de transfert et l’administration comme détaillé ci-après.
## Gestionnaires financiers
Sous la responsabilité générale du Conseil d’administration, la Société de Gestion fournira ou veillera à ce que soient fournis aux Compartiments des services de conseil et gestion d’investissements discrétionnaires, conformément aux dispositions de la Convention de Société de Gestion.
La Société de Gestion a décidé de déléguer, sous sa supervision et sa responsabilité permanentes, la gestion des actifs de chaque Compartiment aux Gestionnaires financiers mentionnés dans les Annexes, de manière à veiller à l’accomplissement de la politique d’investissement de chaque Compartiment.
La Société de Gestion a délégué certaines de ses fonctions de gestion à AXA Investment Managers Paris, aux termes d’une Convention de délégation datée du 17 juin 2002, à AXA Investment Managers UK Ltd aux termes d’une Convention de délégation datée du 14 décembre 2015 et à AXA Investment Managers Asia Ltd (Région administrative spéciale de Hong Kong) aux termes d’une Convention de délégation datée du 6 décembre 2017, telles que modifiées en tant que de besoin.
Le Gestionnaire financier peut, à ses frais, sous sa responsabilité, son contrôle et sa supervision générale, sous-déléguer une ou plusieurs de ses fonctions concernant certains Compartiments à un Sous-gestionnaire financier, tel que précisé dans les Annexes et sous réserve de l’agrément préalable de l’Autorité de tutelle.
Conformément au point ci-dessus, les fonctions suivantes de gestion des investissements ont été sous- déléguées pour le Compartiment AXA WORLD FUNDS II – North American Equities à AXA Rosenberg Investment Management LLC pour tous les titres des États-Unis, en vertu d’une Convention de sous-délégation datée du 10 novembre 2015, modifiées en tant que de besoin.
La Convention de délégation des fonctions d’investissement donne au Gestionnaire financier toute latitude pour acheter, vendre et gérer sur une base quotidienne le portefeuille de chaque Compartiment, sous le contrôle et la responsabilité de la Société de Gestion.
Dans l’exercice de leurs fonctions et des pouvoirs qui leur sont conférés, le Gestionnaire financier et le Sous-gestionnaire financier veilleront au respect des politiques et restrictions d’investissement de chaque Compartiment.
En outre, aux termes d’une Convention de délégation datée du 17 juin 2002, telle que modifiée en tant que de besoin, la Société de Gestion a nommé AXA Investment Managers GS Limited en tant qu’agent responsable de la bonne exécution des opérations de prêts et emprunts de titres et de prise en pension.
Sous leur contrôle et leur responsabilité générale, les Gestionnaires financiers pourront, à leurs propres frais, sous-déléguer certaines de leurs fonctions relatives à certains Compartiments à un sous- gestionnaire, tel que spécifié au sein de Annexes, sous réserve de l’accord préalable de la CSSF. | # The Management Company has delegated the following functions to third parties: investment management, transfer agency and administration as detailed hereinafter.
## Investment Managers
Subject to the overall responsibility of the Directors, the Management Company will provide or procure for each Sub-Fund investment advisory and discretionary investment management services, pursuant to the provisions of the Management Company Services Agreement.
In order to implement the investment policies of each Sub-Fund, the Management Company has delegated, under its permanent supervision and responsibility, the management of assets of each Sub-Fund to the Investment Managers specified in the Appendices.
The Management Company has delegated certain of its investment management duties to AXA Investment Managers Paris under the terms of a Delegation Agreement dated 17 June 2002, to AXA Investment Managers UK Ltd under the terms of a Delegation Agreement dated 14 December 2015 and to AXA Investment Managers Asia Ltd (Hong-Kong SAR) under the terms of a Delegation Agreement dated 6 December 2017 as the same may be amended from time to time.
Subject to its overall responsibility, control and supervision, the Investment Manager may, at its own expense, sub-delegate one or several of its duties in relation to certain Sub-Funds to a Sub-Investment Manager as specified in the Appendices and subject to the prior approval of the Regulatory Authority.
In accordance with the above the investment management duties have been sub-delegated in respect of the Sub-Fund AXA WORLD FUNDS II – North American Equities to AXA Rosenberg Investment Management LLC for all US securities under the terms of a Sub- Delegation Agreement dated 10 November 2015, as amended from time to time.
Pursuant to the relevant Delegation of Investment Business Functions Agreement, the Investment Manager has discretion, on a day-to-day basis and subject to the control and responsibility of the Management Company, to purchase and sell securities and otherwise to manage each Sub-Fund's portfolio.
The Investment Manager as well as the Sub-Investment Manager, in the execution of their duties and the exercise of their powers, shall comply with each Sub-Fund's investment policies and restrictions.
In addition, under the terms of a Delegation Agreement dated 17 June 2002, as the same may be amended from time to time, the Management Company has appointed AXA Investment Managers GS Limited as its agent to carry out its stock lending and repurchase agreements activities.
Subject to their overall responsibility, control and supervision, the Investment Managers may, at their own charge, sub-delegate certain or all of their duties in relation to certain Sub-Funds to a Sub-Investment Manager as specified in the Appendices subject to the CSSF prior approval. | en | fr |
DOLFIN3484 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
#### How a SICAV’s status affects current and future investors
References to current and future investors’ obligation to provide certain supporting information and documents to the SICAV should be understood as an obligation to provide such material to the SICAV or to the European Fund Administration, in its capacity as the representative of the SICAV’s transfer agent and registrar.
The SICAV’s ability to fulfil its obligations pursuant to the Luxembourg FATCA Regulation and/or the Luxembourg CRS Regulation depends on the ability of current and future investors to provide the Information and supporting documents to the SICAV so that it is able to, inter alia, determine the status of current and future investors from the perspective of FATCA and CRS.
The SICAV’s status means that it will not accept investors unless they have provided the Information and supporting documents required by the Luxembourg FATCA Regulation and/or the Luxembourg CRS Regulation.
If an investor has not provided the SICAV with the Information and supporting documents when the SICAV receives his or her subscription request, the subscription request will not be accepted and it will be placed on hold for a limited time (“the grace period”) until the SICAV receives the requisite Information and supporting documents. The subscription request will be accepted and deemed to have been received by the SICAV:
- from the point at which the SICAV receives the requisite Information and supporting documents during the grace period; and
- when the SICAV has reviewed the requisite Information and supporting documents; and
- when the SICAV has accepted the investor. | ##### Auswirkungen des Statuts der SICAV auf die derzeitigen und künftigen Anleger
Der Hinweis auf die Verpflichtung derzeitiger und künftiger Anleger, der SICAV bestimmte Informationen und Nachweise bereitzustellen, ist als die Verpflichtung zu verstehen, diese Informationen und Nachweise der SICAV oder der European Fund Administration in ihrer Eigenschaft als Vertreterin der Transfer- und Registerstelle der SICAV zu übermitteln.
Das Vermögen der SICAV, den Verpflichtungen des Luxemburger FATCA-Gesetzes und/oder des Luxemburger CRS-Gesetzes Folge zu leisten, richtet sich nach dem Vermögen derzeitiger und künftiger Anleger der SICAV zur Bereitstellung der Informationen und Nachweise, um der SICAV unter anderem die Feststellung des Status von derzeitigen und künftigen Anlegern im Sinne von FATCA und CRS zu ermöglichen.
DEM STATUS DER SICAV GEMÄß WIRD DIESE EINEN Anleger nicht akzeptieren, welcher ihr nicht nach Maßgabe des Luxemburger FATCA-Gesetzes und/oder des Luxemburger CRS-Gesetzes erforderlichen Informationen und Nachweise bereitgestellt hat.
Sofern ein Anleger der SICAV die Informationen und Nachweise nicht bei Eingang des Zeichnungsantrags bei der SICAV bereitgestellt hat, wird dem Zeichnungsantrag nicht stattgegeben und dieser wird für einen begrenzten Zeitraum gestundet (die „Nachfrist“), bis der SICAV die erforderlichen Informationen und Nachweise vorliegen. Der Zeichnungsantrag wird akzeptiert und gilt bei der SICAV als eingegangen:
- ab dem Zeitpunkt, an dem die SICAV die erforderlichen Informationen und Nachweise während der Nachfrist erhalten hat; und
- sobald die SICAV die erforderlichen Informationen und Nachweise geprüft hat; und
- sobald die SICAV den Anleger akzeptiert hat. | #### How a SICAV’s status affects current and future investors
References to current and future investors’ obligation to provide certain supporting information and documents to the SICAV should be understood as an obligation to provide such material to the SICAV or to the European Fund Administration, in its capacity as the representative of the SICAV’s transfer agent and registrar.
The SICAV’s ability to fulfil its obligations pursuant to the Luxembourg FATCA Regulation and/or the Luxembourg CRS Regulation depends on the ability of current and future investors to provide the Information and supporting documents to the SICAV so that it is able to, inter alia, determine the status of current and future investors from the perspective of FATCA and CRS.
The SICAV’s status means that it will not accept investors unless they have provided the Information and supporting documents required by the Luxembourg FATCA Regulation and/or the Luxembourg CRS Regulation.
If an investor has not provided the SICAV with the Information and supporting documents when the SICAV receives his or her subscription request, the subscription request will not be accepted and it will be placed on hold for a limited time (“the grace period”) until the SICAV receives the requisite Information and supporting documents. The subscription request will be accepted and deemed to have been received by the SICAV:
- from the point at which the SICAV receives the requisite Information and supporting documents during the grace period; and
- when the SICAV has reviewed the requisite Information and supporting documents; and
- when the SICAV has accepted the investor. | en | de |
DOLFIN3485 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Summary
This Sub-Fund promotes environmental or social characteristics but does not have as its objective sustainable investment.
The Sub-Fund promotes a minimum environmental and/or social standard that seeks to mitigate or avoid practices that the Investment Manager deems environmentally and/or socially detrimental. Exclusion criteria are used to achieve this minimum standard.
For example, issuers that derive a certain percentage of revenue as determined by the Investment Manager from tobacco production, controversial weapons production, thermal coal mining and/or thermal coal power generation are excluded. Issuers will also be excluded where, in the opinion of the Investment Manager, the issuers are deemed to have violated the minimum standards of business practices represented in widely accepted global conventions.
A reference benchmark has not been designated for the purpose of attaining the environmental and/or social characteristics promoted by the Sub-Fund.
Information on:
- the investment strategy used to meet the environmental or social characteristics promoted by the Sub-Fund and the policy to assess good governance practices of the investee companies, including with respect to sound management structures, employee relations, remuneration of staff and tax compliance;
- the proportion, if any, of the investments of the Sub-Fund in sustainable investments including, where relevant, the proportion of investments with direct exposure in investee entities and all other types of exposure to those entities;
- a description of how the environmental or social characteristics promoted by the Sub-Fund and the sustainability indicators used to measure the attainment of each of those environmental or social characteristics promoted by the Sub-Fund are monitored throughout the lifecycle of the Sub-Fund and the related internal or external control mechanisms and the methodologies used to measure how the social or environmental characteristics promoted by the Sub-Fund are met;
- a description of the data sources used to attain each of the environmental or social characteristics promoted by the Sub-Fund, the measures taken to ensure data quality, how data are processed and the proportion of data that are estimated ; and
- any limitations to the methodologies and data used and how such limitations do not affect how the environmental or social characteristics promoted by the Sub-Fund are metis provided in the accompanying Full SFDR Website Disclosure document.
The Full SFDR Website Disclosure also provides a description of the due diligence carried out on the underlying assets of the Sub-Fund including the internal and external controls on that due diligence.
Engagement is not part of the environmental or social investment strategy and there are no management procedures applicable to sustainability-related controversies in investee companies. | # Zusammenfassung
Dieser Teilfonds bewirbt ökologische oder soziale Merkmale, strebt jedoch keine nachhaltige Investition an.
Der Teilfonds bewirbt einen ökologischen und/oder sozialen Mindeststandard, der auf die Abschwächung oder Vermeidung von Praktiken abzielt, die der Anlageverwalter als ökologisch und/oder sozial nachteilig erachtet. Um diesen Mindeststandard zu erreichen, werden Ausschlusskriterien verwendet.
Zum Beispiel sind Emittenten, die einen bestimmten Prozentsatz des Umsatzes gemäß Ermittlung durch den Anlageverwalter aus der Tabakproduktion, aus der Herstellung umstrittener Waffen und aus dem Abbau und/oder der Verstromung von Kraftwerkskohle erzielen, ausgeschlossen. Emittenten werden ebenfalls ausgeschlossen, wenn sie nach Ansicht des Anlageverwalters gegen die Mindeststandards für Geschäftspraktiken verstoßen, die in weithin anerkannten globalen Übereinkommen festgelegt sind.
Es wurde kein Referenzwert bestimmt, um die mit dem Teilfonds beworbenen ökologischen und/oder sozialen Merkmale zu erreichen.
Informationen zu:
- der Anlagestrategie, die vom Teilfonds zur Erreichung der ökologischen oder sozialen Merkmale eingesetzt wird, und den Richtlinien zur Bewertung der Verfahrensweisen einer guten Unternehmensführung der Unternehmen, in die investiert wird, einschließlich solider Managementstrukturen, der Beziehungen zu den Arbeitnehmern, der Vergütung von Mitarbeitern sowie der Einhaltung der Steuervorschriften;
- dem etwaigen Anteil der Anlagen des Teilfonds an nachhaltigen Investitionen, gegebenenfalls einschließlich des Anteils der Anlagen mit einem direktem Engagement in Unternehmen, in die investiert wird, und aller anderen Arten des Engagements in diesen Unternehmen;
- einer Beschreibung der Art und Weise, wie die vom Teilfonds beworbenen ökologischen oder sozialen Merkmale und die Nachhaltigkeitsindikatoren, die zur Messung der Erreichung jedes dieser vom Teilfonds geförderten ökologischen oder sozialen Merkmale verwendet werden, während des gesamten Lebenszyklus des Teilfonds überwacht werden, sowie die damit verbundenen internen oder externen Kontrollmechanismen und die Methoden, die zur Messung der Erfüllung der vom Teilfonds beworbenen sozialen oder ökologischen Merkmale verwendet werden;
- einer Beschreibung der Datenquellen, die zur Erreichung der einzelnen vom Teilfonds beworbenen ökologischen oder sozialen Merkmale verwendet werden, der Maßnahmen zur Gewährleistung der Datenqualität, der Art der Datenverarbeitung und des Anteils der Daten, die geschätzt werden und
- etwaigen Beschränkungen der verwendeten Methoden und Daten und dazu, inwiefern diese Beschränkungen die Erfüllung der vom Teilfonds beworbenen ökologischen oder sozialen Merkmale nicht beeinträchtigen, werden im beiliegenden vollständigen SFDR-Informationsdokument auf der Website angegeben.
Die vollständigen SFDR-Informationen auf der Website enthalten zudem eine Beschreibung der für die dem Teilfonds zugrunde liegenden Vermögenswerte ausgeübte Due Diligence, einschließlich der internen und externen Kontrollen in Bezug auf diese Due Diligence.
Mitwirkung ist weder ein Teil der ökologischen oder sozialen Anlagestrategie noch existieren Managementverfahren für nachhaltigkeitsbezogene Kontroversen in den Unternehmen, in die investiert wird. | # Summary
This Sub-Fund promotes environmental or social characteristics but does not have as its objective sustainable investment.
The Sub-Fund promotes a minimum environmental and/or social standard that seeks to mitigate or avoid practices that the Investment Manager deems environmentally and/or socially detrimental. Exclusion criteria are used to achieve this minimum standard.
For example, issuers that derive a certain percentage of revenue as determined by the Investment Manager from tobacco production, controversial weapons production, thermal coal mining and/or thermal coal power generation are excluded. Issuers will also be excluded where, in the opinion of the Investment Manager, the issuers are deemed to have violated the minimum standards of business practices represented in widely accepted global conventions.
A reference benchmark has not been designated for the purpose of attaining the environmental and/or social characteristics promoted by the Sub-Fund.
Information on:
- the investment strategy used to meet the environmental or social characteristics promoted by the Sub-Fund and the policy to assess good governance practices of the investee companies, including with respect to sound management structures, employee relations, remuneration of staff and tax compliance;
- the proportion, if any, of the investments of the Sub-Fund in sustainable investments including, where relevant, the proportion of investments with direct exposure in investee entities and all other types of exposure to those entities;
- a description of how the environmental or social characteristics promoted by the Sub-Fund and the sustainability indicators used to measure the attainment of each of those environmental or social characteristics promoted by the Sub-Fund are monitored throughout the lifecycle of the Sub-Fund and the related internal or external control mechanisms and the methodologies used to measure how the social or environmental characteristics promoted by the Sub-Fund are met;
- a description of the data sources used to attain each of the environmental or social characteristics promoted by the Sub-Fund, the measures taken to ensure data quality, how data are processed and the proportion of data that are estimated ; and
- any limitations to the methodologies and data used and how such limitations do not affect how the environmental or social characteristics promoted by the Sub-Fund are metis provided in the accompanying Full SFDR Website Disclosure document.
The Full SFDR Website Disclosure also provides a description of the due diligence carried out on the underlying assets of the Sub-Fund including the internal and external controls on that due diligence.
Engagement is not part of the environmental or social investment strategy and there are no management procedures applicable to sustainability-related controversies in investee companies. | en | de |
DOLFIN3486 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# La performance du Fonds n’est pas liée à celle de l’Indice de référence. L’Indice de référence doit être utilisé à titre comparatif.
-10,8%
-10,2%
-4,4% | # La rentabilidad del Fondo no está vinculada a la rentabilidad del Índice de referencia. El Índice de referencia se utilizará con fines comparativos.
-10,2% | # La performance du Fonds n’est pas liée à celle de l’Indice de référence. L’Indice de référence doit être utilisé à titre comparatif.
-10,8%
-10,2%
-4,4% | fr | es |
DOLFIN3487 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
## Recommended holding period:
5 years
An investment in the Product should be considered as a long-term investment. The recommended minimum holding period is 5 years. Redemption of units before the minimum holding period is possible but may have a negative impact as short-term fluctuations in value cannot be offset. The product may not be suitable for investors who wish to withdraw their money within a period of 5 years. | ## Periodo di detenzione raccomandato:
5 anni
L´investimento nel Prodotto deve essere considerato un investimento a lungo termine. Il periodo di detenzione minimo consigliato è di 5 anni. Il rimborso delle quote prima del periodo minimo di detenzione è possibile, ma può avere un impatto negativo in quanto le fluttuazioni di valore a breve termine non possono essere compensate. Il prodotto potrebbe non essere adatto agli investitori che desiderano ritirare il proprio denaro entro un periodo di 5 anni. | ## Recommended holding period:
5 years
An investment in the Product should be considered as a long-term investment. The recommended minimum holding period is 5 years. Redemption of units before the minimum holding period is possible but may have a negative impact as short-term fluctuations in value cannot be offset. The product may not be suitable for investors who wish to withdraw their money within a period of 5 years. | en | it |
DOLFIN3488 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Si vous sortez après 1 an | Si vous sortez après 5 ans |
| --- | --- |
| Coûts totaux | 525 EUR | 1 603 EUR |
| Incidence des coûts annuels (*) | 5,3% | 2,9% Chaque année | | | En caso de salida después de 1 año | En caso de salida después de 5 años |
| --- | --- |
| Costes totales | 525 EUR | 1.603 EUR |
| Incidencia anual de los costes (*) | 5,3% | 2,9% cada año | | | Si vous sortez après 1 an | Si vous sortez après 5 ans |
| --- | --- |
| Coûts totaux | 525 EUR | 1 603 EUR |
| Incidence des coûts annuels (*) | 5,3% | 2,9% Chaque année | | fr | es |
DOLFIN3489 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| Recommended holding period: 5 YEARS Example Investment: 10,000 EUR |
| --- |
| Scenarios | If you exit after 1 year | If you exit after 5 years |
| Minimum | There is no minimum guaranteed return. You could lose some or all of your investment. | |
| Stress | What you might get back after costs | 2,080 EUR | 4,040 EUR |
| | Average return each year | -79.2 % | -16.6 % each year |
| Unfavourable | What you might get back after costs | 8,830 EUR | 9,900 EUR |
| | Average return each year | -11.7 % | -0.2 % each year |
| Moderate | What you might get back after costs | 11,080 EUR | 15,800 EUR |
| | Average return each year | 10.8 % | 9.6 % each year |
| Favourable | What you might get back after costs | 14,520 EUR | 19,420 EUR |
| | Average return each year | 45.2 % | 14.2 % each year | | | Período de mantenimiento recomendado: 5 AÑOS Ejemplo de inversión: 10.000 EUR |
| --- |
| Escenarios | En caso de salida después de 1 año | En caso de salida después de 5 años |
| Mínimo | No hay un rendimiento mínimo garantizado. Podría perder parte o la totalidad de su inversión. | |
| Tensión | Lo que podría recibir tras deducir los costes | 2.080 EUR | 4.040 EUR |
| | Rendimiento medio cada año | -79,2 % | -16,6 % cada año |
| Desfavorable | Lo que podría recibir tras deducir los costes | 8.830 EUR | 9.900 EUR |
| | Rendimiento medio cada año | -11,7 % | -0,2 % cada año |
| Moderado | Lo que podría recibir tras deducir los costes | 11.080 EUR | 15.800 EUR |
| | Rendimiento medio cada año | 10,8 % | 9,6 % cada año |
| Favorable | Lo que podría recibir tras deducir los costes | 14.520 EUR | 19.420 EUR |
| | Rendimiento medio cada año | 45,2 % | 14,2 % cada año | | | Recommended holding period: 5 YEARS Example Investment: 10,000 EUR |
| --- |
| Scenarios | If you exit after 1 year | If you exit after 5 years |
| Minimum | There is no minimum guaranteed return. You could lose some or all of your investment. | |
| Stress | What you might get back after costs | 2,080 EUR | 4,040 EUR |
| | Average return each year | -79.2 % | -16.6 % each year |
| Unfavourable | What you might get back after costs | 8,830 EUR | 9,900 EUR |
| | Average return each year | -11.7 % | -0.2 % each year |
| Moderate | What you might get back after costs | 11,080 EUR | 15,800 EUR |
| | Average return each year | 10.8 % | 9.6 % each year |
| Favourable | What you might get back after costs | 14,520 EUR | 19,420 EUR |
| | Average return each year | 45.2 % | 14.2 % each year | | en | es |
DOLFIN3490 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Objectifs et politique d'investissement
Le Fonds vise à générer une croissance du capital à long terme.
En vue d'atteindre cet objectif, le Fonds investit principalement dans des actions chinoises de type « A » de sociétés présentes en République populaire de Chine. Le Fonds peut également investir jusqu'à 30 % de ses actifs dans des sociétés chinoises cotées ou négociées sur une Bourse reconnue en dehors de la République populaire de Chine. Le Fonds sélectionne des sociétés de qualité en fonction des quatre critères clés suivants : modèles commerciaux | # Objetivos y política de inversión
El Fondo tratará de ofrecer un crecimiento del capital a largo plazo.
Tratará de hacerlo invirtiendo principalmente en Acciones A de China de empresas en la República Popular China. El Fondo también podrá invertir hasta un 30 por ciento de sus activos en empresas chinas que coticen o se negocien en una Bolsa de valores reconocida fuera de la República Popular China. El Fondo selecciona empresas de calidad basándose en cuatro criterios clave: modelos de negocio sostenibles, balances de cuentas sólidos, equipos de dirección con | # Objectifs et politique d'investissement
Le Fonds vise à générer une croissance du capital à long terme.
En vue d'atteindre cet objectif, le Fonds investit principalement dans des actions chinoises de type « A » de sociétés présentes en République populaire de Chine. Le Fonds peut également investir jusqu'à 30 % de ses actifs dans des sociétés chinoises cotées ou négociées sur une Bourse reconnue en dehors de la République populaire de Chine. Le Fonds sélectionne des sociétés de qualité en fonction des quatre critères clés suivants : modèles commerciaux | fr | es |
DOLFIN3491 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
### Note 4 - Other fees
Other Fees means the fees and commissions paid, as the case maybe partially or totally, to the Management Company including without limitation, the services or cost and expenses due or borne by the Fund in respect of:
- services provided by the Depositary;
- services provided by the Administrative Agent;
- services provided by the Auditor;
- the passporting or registration of the Fund in countries other than Luxembourg (including translation costs, legal expenses, filing costs and regulatory expenses or fees, but excluding specific foreign UCI's tax as set out in each relevant Special Section of the Fund prospectus);
- the legal cost and expenses incurred by the Fund or the Service Providers while acting in the interests of the Unitholders;
- the cost and expenses of preparing and/or filing and printing the Management Regulations and all other documents concerning the Fund (in such languages as are necessary), including registration statements, notices to the Unitholders, prospectuses and explanatory memoranda with all authorities (including local securities dealers' associations) having jurisdiction over the Fund or the offering of Units of the Fund;
- the cost and expenses of accounting, bookkeeping and calculating the Net Asset Value; the costs of preparing, in such languages as are necessary for the benefit of the Unitholders (including the beneficial holders of the Units), and distributing annual and semi-annual reports and such other reports or documents as may be required under applicable laws or regulations;
- the cost and expenses of promoting the Fund, including reasonable marketing and advertising expenses;
- the costs incurred with the admission and the maintenance of the Units on the stock exchanges on which they are listed (if listed);
- the costs and expenses linked to any licence agreement. | ### Nota 4 - Altri costi
Altri costi indica le spese e le commissioni versate, parzialmente o totalmente a seconda dei casi, alla Società di gestione, inclusi a scopo meramente esemplificativo i servizi o gli oneri e le spese dovuti o sostenuti dal Fondo per quanto riguarda:
- i servizi forniti dalla Banca depositaria;
- i servizi forniti dall'Agente amministrativo;
- i servizi forniti dalla Società di revisione;
- il passporting o la registrazione del Fondo in paesi diversi dal Lussemburgo (compresi i costi di traduzione, le spese legali, i costi di deposito e le spese o commissioni di regolamentazione, ma ad esclusione della specifica tassazione dell'OICR estero stabilita in ciascuna relativa Sezione speciale del prospetto informativo del Fondo);
- i costi e le spese legali sostenuti dal Fondo o dai Fornitori di servizi operanti nell'interesse dei Partecipanti;
- il costo e le spese per la preparazione e/o la presentazione e la stampa del Regolamento di gestione e di tutti gli altri documenti relativi al Fondo (nelle lingue necessarie), comprese le dichiarazioni di registrazione, gli avvisi ai Partecipanti, i prospetti informativi e i memorandum esplicativi presso tutte le autorità (comprese le associazioni locali degli operatori in titoli) aventi competenza giurisdizionale sul Fondo o sull'offerta di Quote del Fondo;
- i costi e le spese legati alla contabilità, alla tenuta dei libri contabili e al calcolo del Valore patrimoniale netto; i costi di preparazione, nelle lingue necessarie nell'interesse dei Partecipanti (compresi i detentori effettivi delle Quote), e di distribuzione delle relazioni annuali e semestrali e di altri rapporti o documenti richiesti dalle leggi o dai regolamenti vigenti;
- i costi e le spese di promozione del Fondo, comprensivi delle ragionevoli spese di marketing e pubblicità;
- i costi sostenuti per l'ammissione e il mantenimento delle Quote sulle borse valori sulle quali sono quotate (laddove quotate);
- gli oneri e le spese legati a eventuali accordi di licenza. | ### Note 4 - Other fees
Other Fees means the fees and commissions paid, as the case maybe partially or totally, to the Management Company including without limitation, the services or cost and expenses due or borne by the Fund in respect of:
- services provided by the Depositary;
- services provided by the Administrative Agent;
- services provided by the Auditor;
- the passporting or registration of the Fund in countries other than Luxembourg (including translation costs, legal expenses, filing costs and regulatory expenses or fees, but excluding specific foreign UCI's tax as set out in each relevant Special Section of the Fund prospectus);
- the legal cost and expenses incurred by the Fund or the Service Providers while acting in the interests of the Unitholders;
- the cost and expenses of preparing and/or filing and printing the Management Regulations and all other documents concerning the Fund (in such languages as are necessary), including registration statements, notices to the Unitholders, prospectuses and explanatory memoranda with all authorities (including local securities dealers' associations) having jurisdiction over the Fund or the offering of Units of the Fund;
- the cost and expenses of accounting, bookkeeping and calculating the Net Asset Value; the costs of preparing, in such languages as are necessary for the benefit of the Unitholders (including the beneficial holders of the Units), and distributing annual and semi-annual reports and such other reports or documents as may be required under applicable laws or regulations;
- the cost and expenses of promoting the Fund, including reasonable marketing and advertising expenses;
- the costs incurred with the admission and the maintenance of the Units on the stock exchanges on which they are listed (if listed);
- the costs and expenses linked to any licence agreement. | en | it |
DOLFIN3492 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Quels sont les risques et que puis-je espérer en retour ? (suite) Scénarios de performance
Le montant que vous allez récupérer sur ce produit dépend de la performance de marché future. Les évolutions de marché sont incertaines et ne peuvent pas être prévues de manière précise.
Période de conservation recommandée 7
Exemple d’investissement EUR 10.000
1 an 7 ans
Scénario de crise
Le scénario de crise montre ce que vous récupérerez dans des circonstances de marché extrêmes.
| Ce que vous récupérerez après imputation des frais | €1590,00 | €1110,05 |
| --- | --- | --- |
| Performance moyenne chaque année en % | -84,10 | -26,95 |
| Scénario défavorable | Ce type de scénario est survenu Robeco MegaTrends D EUR entre 2021-10-31 et 2022-11-30. | |
| Ce que vous récupérerez après imputation des frais | €6950,00 | €7351,63 |
| Performance moyenne chaque année en % | -30,50 | -4,30 |
| Scénario modéré | Ce type de scénario est survenu Robeco MegaTrends D EUR entre 2015-01-31 et 2022-01-31. | |
| Ce que vous récupérerez après imputation des frais | €10660,00 | €20892,88 |
| Performance moyenne chaque année en % | 7,00 | 11,10 |
| Scénario favorable | Ce type de scénario est survenu Robeco MegaTrends D EUR entre 2014-04-30 et 2021-04-30. | |
| Ce que vous récupérerez après imputation des frais | €14520,00 | €25115,02 |
| Performance moyenne chaque année en % | 45,00 | 14,06 |
Les chiffres présentés incluent tous les frais du produit, mais n’incluent pas nécessairement tous les frais que vous réglez à votre conseiller ou distributeur. Ces chiffres ne tiennent pas compte de votre situation fiscale personnelle, qui peut influer sur le montant que vous allez récupérer.
Les scénarios défavorables, modérés et favorables présentés sont des illustrations utilisant la performance la moins bonne, moyenne et meilleure du produit et un indicateur adapté des 10 dernières années.
Vous pouvez perdre une partie, voire l’intégralité de vos investissements. | # ¿Cuáles son los riesgos y qué puedo obtener a cambio? (continuación) Escenarios de
Lo que obtenga con este producto dependerá de la evolución futura del mercado. La evolución futura del mercado es incierta y no puede predecirse con exactitud.
Período de tenencia recomendado 7
Ejemplo de inversión EUR 10.000
1 año 7 años
Supuesto de estrés
El escenario de estrés muestra el importe que podría obtener en circunstancias extremas del mercado.
| Importe que podría obtener descontados los costes | €1590,00 | €1110,05 |
| --- | --- | --- |
| Rendimiento medio anual % | -84,10 | -26,95 |
| Supuesto desfavorable | Este tipo de escenario ocurrió por Robeco MegaTrends D EUR entre 2021-10-31 y 2022-11-30. | |
| Importe que podría obtener descontados los costes | €6950,00 | €7351,63 |
| Rendimiento medio anual % | -30,50 | -4,30 |
| Supuesto alternativo | Este tipo de escenario ocurrió por Robeco MegaTrends D EUR entre 2015-01-31 y 2022-01-31. | |
| Importe que podría obtener descontados los costes | €10660,00 | €20892,88 |
| Rendimiento medio anual % | 7,00 | 11,10 |
| Supuesto favorable | Este tipo de escenario ocurrió por Robeco MegaTrends D EUR entre 2014-04-30 y 2021-04-30. | |
| Importe que podría obtener descontados los costes | €14520,00 | €25115,02 |
| Rendimiento medio anual % | 45,00 | 14,06 |
Las cifras incluyen todos los costes del producto propiamente dicho, pero podrían no incluir los costes que usted pague a su asesor o distribuidor. Las cifras no tienen en cuenta su situación fiscal personal, que también podría afectar al importe que obtenga.
Los escenarios desfavorable, moderado y favorable que se muestran son ejemplos de la rentabilidad peor, media y mejor del producto y de un índice de referencia apropiado durante los 10 últimos años.
Podría perder la totalidad o parte de su inversión. | # Quels sont les risques et que puis-je espérer en retour ? (suite) Scénarios de performance
Le montant que vous allez récupérer sur ce produit dépend de la performance de marché future. Les évolutions de marché sont incertaines et ne peuvent pas être prévues de manière précise.
Période de conservation recommandée 7
Exemple d’investissement EUR 10.000
1 an 7 ans
Scénario de crise
Le scénario de crise montre ce que vous récupérerez dans des circonstances de marché extrêmes.
| Ce que vous récupérerez après imputation des frais | €1590,00 | €1110,05 |
| --- | --- | --- |
| Performance moyenne chaque année en % | -84,10 | -26,95 |
| Scénario défavorable | Ce type de scénario est survenu Robeco MegaTrends D EUR entre 2021-10-31 et 2022-11-30. | |
| Ce que vous récupérerez après imputation des frais | €6950,00 | €7351,63 |
| Performance moyenne chaque année en % | -30,50 | -4,30 |
| Scénario modéré | Ce type de scénario est survenu Robeco MegaTrends D EUR entre 2015-01-31 et 2022-01-31. | |
| Ce que vous récupérerez après imputation des frais | €10660,00 | €20892,88 |
| Performance moyenne chaque année en % | 7,00 | 11,10 |
| Scénario favorable | Ce type de scénario est survenu Robeco MegaTrends D EUR entre 2014-04-30 et 2021-04-30. | |
| Ce que vous récupérerez après imputation des frais | €14520,00 | €25115,02 |
| Performance moyenne chaque année en % | 45,00 | 14,06 |
Les chiffres présentés incluent tous les frais du produit, mais n’incluent pas nécessairement tous les frais que vous réglez à votre conseiller ou distributeur. Ces chiffres ne tiennent pas compte de votre situation fiscale personnelle, qui peut influer sur le montant que vous allez récupérer.
Les scénarios défavorables, modérés et favorables présentés sont des illustrations utilisant la performance la moins bonne, moyenne et meilleure du produit et un indicateur adapté des 10 dernières années.
Vous pouvez perdre une partie, voire l’intégralité de vos investissements. | fr | es |
DOLFIN3493 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
Further exemptions from the subscription tax are outlined in the Prospectus.
No stamp duty or other tax is generally payable in Luxembourg on the issue of Shares for cash by the SICAV.
No corporate tax is payable in Luxembourg on realised or unrealised capital appreciation of the assets of the SICAV.
Interest income received by the SICAV may be subject to non-recoverable withholding taxes in the countries of origin. Although the SICAV’s realised capital gains, whether short term or long term, are not expected to become taxable in another country, Shareholders must be aware and recognise that such a possibility is not totally excluded. The regular income of the SICAV from some of its securities as well as interest earned on cash deposits in certain countries may be liable to withholding taxes at varying rates, which normally cannot be recovered. Withholding and other taxes levied at source, if any, are not recoverable. Whether the SICAV may benefit from a double tax treaty concluded by Luxembourg must be determined on a case-by-case basis.
Investors should consult their professional advisers on the taxation applicable under the laws of their countries of citizenship, residence or domicile.
It is the intention of the Board of Directors of the SICAV to declare an annual distribution on the last business day of June. There are three types of distributions: (ACDiv), (AFDiv), (AIDiv) and (AKDiv) are declared annually; (QCDiv), (QFDiv), (QIDiv) and (QKDiv) are declared on a quarterly basis, on the last business day of March, June, September and December; Distributions classified as (MCDiv), (MFDiv), (MIDiv) and (MKDiv) are declared on a monthly basis, on the last business day of each month.
The dividend policies applicable to the various categories of distributing Classes are set out below: | Ulteriori esenzioni dalla “taxe d'abonnement” sono riportate nel Prospetto informativo.
Di norma, non sono dovute in Lussemburgo imposte di bollo o di altro genere per l'emissione di Azioni della SICAV.
Non sono dovute imposte societarie lussemburghesi sulle plusvalenze realizzate o non realizzate sul patrimonio della SICAV.
I proventi da interessi ricevuti dalla SICAV possono essere soggetti nei paesi d'origine a ritenute alla fonte non recuperabili. Sebbene non si preveda che a breve o a lungo termine le plusvalenze realizzate dalla SICAV divengano imponibili in un altro paese, gli Azionisti devono essere consapevoli e prendere atto del fatto che tale possibilità non è totalmente da escludere. Il reddito regolare della SICAV da alcuni dei suoi titoli, nonché gli interessi percepiti sui depositi di liquidità in determinati paesi, possono essere soggetti a ritenute alla fonte di norma non recuperabili secondo aliquote variabili. Le eventuali ritenute alla fonte e le altre imposte applicate alla fonte non sono recuperabili. La possibilità per la SICAV di beneficiare di un trattato sulla doppia imposizione fiscale stipulato dal Lussemburgo deve essere determinata caso per caso.
Si raccomanda agli investitori di consultare i propri consulenti professionali in merito alle imposte applicabili ai sensi delle leggi dei rispettivi paesi di cittadinanza, residenza o domicilio.
Il Consiglio di Amministrazione della SICAV intende dichiarare una distribuzione annuale nell'ultimo giorno lavorativo di giugno. Vi sono tre tipologie di distribuzioni: le distribuzioni classificate come (ACDiv), (AFDiv), (AIDiv) e (AKDiv) vengono dichiarate con frequenza annuale; le distribuzioni classificate come (QCDiv), (QFDiv), (QIDiv) e (QKDiv) vengono dichiarate con frequenza trimestrale nell'ultimo giorno lavorativo di marzo, giugno, settembre e dicembre; le distribuzioni classificate come (MCDiv), (MFDiv), (MIDiv) e (MKDiv) vengono dichiarate con frequenza mensile nell'ultimo giorno lavorativo di ciascun mese.
Le politiche di distribuzione applicabili alle diverse categorie di Classi a distribuzione sono descritte di seguito: | Further exemptions from the subscription tax are outlined in the Prospectus.
No stamp duty or other tax is generally payable in Luxembourg on the issue of Shares for cash by the SICAV.
No corporate tax is payable in Luxembourg on realised or unrealised capital appreciation of the assets of the SICAV.
Interest income received by the SICAV may be subject to non-recoverable withholding taxes in the countries of origin. Although the SICAV’s realised capital gains, whether short term or long term, are not expected to become taxable in another country, Shareholders must be aware and recognise that such a possibility is not totally excluded. The regular income of the SICAV from some of its securities as well as interest earned on cash deposits in certain countries may be liable to withholding taxes at varying rates, which normally cannot be recovered. Withholding and other taxes levied at source, if any, are not recoverable. Whether the SICAV may benefit from a double tax treaty concluded by Luxembourg must be determined on a case-by-case basis.
Investors should consult their professional advisers on the taxation applicable under the laws of their countries of citizenship, residence or domicile.
It is the intention of the Board of Directors of the SICAV to declare an annual distribution on the last business day of June. There are three types of distributions: (ACDiv), (AFDiv), (AIDiv) and (AKDiv) are declared annually; (QCDiv), (QFDiv), (QIDiv) and (QKDiv) are declared on a quarterly basis, on the last business day of March, June, September and December; Distributions classified as (MCDiv), (MFDiv), (MIDiv) and (MKDiv) are declared on a monthly basis, on the last business day of each month.
The dividend policies applicable to the various categories of distributing Classes are set out below: | en | it |
DOLFIN3494 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
- The Company's liquidity management system is available in a reasonably documented form, re- vised at least once a year and updated if necessary.
- The implemented liquidity management system ensures, as a general rule, that the liquidity level of a given fund covers its underlying liabilities, with the relative liquidity of its assets being valued, inter alia, on the basis of the duration and price at which assets are disposed of.
- The liquidity level of each fund is also monitored in terms of its key obligations and liabilities as well as the marginal contribution of each individual asset. To this end, the Company considers (inter alia) the profile of the Fund's investor base, the type of investors, the relative size of invest- ments in the Fund and their redemption terms and conditions. If the Fund's assets are invested in other undertakings for collective investment, the approach to liquidity management followed by the asset managers of said other undertakings for collective investment is monitored and checks are regularly made to see if the redemption terms and conditions have been changed.
- The Company employs reasonable liquidity measurement precautions and procedures in order to determine the quantitative and qualitative risks of the Fund's individual assets. It does so based on reasonable knowledge and experience with regard to the liquidity of individual assets as well as with regard to the related trading volume, price sensitivity and spreads under normal and extraordinary liquidity conditions.
- As part of its liquidity management, the Company ensures that the processes and instruments necessary for managing liquidity risks are implemented. It does so by identifying the normal and extraordinary circumstances under which these instruments and precautionary measures may be used, with all investors being treated equally. The Company has appropriate escalation processes in place to manage current and potential liquidity problems or other emergency situations within the Fund.
- The Company sets individual liquidity limits, taking into account the nature, scope and complexity of each individual managed fund. These limits, which are continuously monitored, reflect the underlying liabilities and redemption principles; reasonable steps are taken to improve the liquid- ity situation if they are or may be exceeded. When setting these limits, the Company considers the liquidity management guidelines, the appropriateness of the liquidity profile of the Fund's assets, and the impact of atypical redemption requests. Periodic fluctuations are possible.
- The Company conducts regular stress tests with which it can assess the Fund's liquidity risks. The Company conducts stress tests based on current reliable quantitative or, if this is inadequate, qualitative information available. These may include investment strategies, redemption periods, payment obligations and deadlines within which assets may be disposed of, as well as infor- mation regarding general investor behaviour and market developments. The stress tests simulate a situation of a lack of liquidity of assets in the Fund, as well as atypical redemption requests. These are performed with a frequency appropriate for the Fund (at least once a year) and take into consideration the Fund's investment strategy, liquidity profile, investor structure and re- demption rules. | - Das Liquiditätsmanagementsystem der Gesellschaft liegt in einer angemessenen dokumentierten Form vor, wird mindestens einmal jährlich überprüft und bei Bedarf entsprechend angepasst.
- Durch das implementierte Liquiditätsmanagementsystem wird in der Regel gewährleistet, dass der Liquiditätslevel eines jeden Fonds die zugrunde liegenden Verbindlichkeiten abdeckt, wobei die Bewertung der relativen Liquidität der Vermögenswerte u.a. die Veräußerungsdauer und den Veräußerungspreis der Vermögenswerte einbezieht.
- Des Weiteren erfolgt die Überwachung des Liquiditätslevels eines jeden Fonds im Hinblick auf die wesentlichen Verpflichtungen und Verbindlichkeiten sowie auf den marginalen Beitrag indi- vidueller Vermögenswerte. Zu diesem Zweck wird unter anderem das Profil der Anlegerbasis des Fonds, die Art der Anleger, die relative Größe der Investments im Fonds und deren Rücknahme- bedingungen durch die Gesellschaft berücksichtigt. Im Fall von Anlagen des Fonds in andere Organismen für gemeinsame Anlagen erfolgt die Überwachung des durch die Vermögensver- walter dieser anderen Organismen für gemeinsame Anlagen verfolgten Ansatzes beim Liquidi- tätsmanagement und es wird eine regelmäßige Prüfung hinsichtlich der Änderungen der Rück- nahmebestimmungen verfolgt.
- Die Gesellschaft setzt angemessene Liquiditätsmessvorkehrungen und -verfahren ein, um die quantitativen und qualitativen Risiken von einzelnen Vermögenswerten des Fonds zu bewerten. Dieses erfolgt auf Basis angemessener Kenntnisse und Erfahrungen hinsichtlich der Liquidität einzelner Vermögenswerte, sowie hinsichtlich des zugehörigen Handelsvolumens, der Preissen- sitivität und der Spreads unter normalen und außergewöhnlichen Liquiditätsbedingungen.
- Im Rahmen des Liquiditätsmanagements stellt die Gesellschaft die Umsetzung der für die Steue- rung des Liquiditätsrisikos erforderlichen Prozesse und Instrumente sicher. Dazu werden unter Beachtung der Gleichbehandlung aller Anleger die normalen und außergewöhnlichen Umstände identifiziert, unter denen diese Instrumente und Vorkehrungen angewandt werden können. Um aktuelle und potentielle Liquiditätsprobleme oder andere Notsituationen des Fonds zu bewälti- gen, verfügt die Gesellschaft über angemessene Eskalationsprozesse.
- Unter Berücksichtigung der Art, des Umfangs und der Komplexität jedes einzelnen verwalteten Fonds, erfolgt durch die Gesellschaft die Festlegung der individuellen Liquiditätslimits. Die Limits stehen im Einklang mit den zugrundeliegenden Verbindlichkeiten und den Rücknahmegrundsät- zen, werden fortlaufend überwacht und bei Überschreitungen oder potentiellen Überschreitun- gen werden angemessene Maßnahmen zur Verbesserung der Liquiditätssituation getroffen. In Rahmen der Festlegung bezieht die Gesellschaft die Liquiditätsmanagementrichtlinie, die Ange- messenheit des Liquiditätsprofils der Vermögenswerte des Fonds sowie die Auswirkung atypi- scher Rücknahmeforderungen ein. Vorübergehenden Schwankungen sind möglich.
- Die Gesellschaft führt regelmäßig Stresstests durch, mit denen sie die Liquiditätsrisiken des Fonds bewerten kann. Die Gesellschaft führt die Stresstests auf der Grundlage zuverlässiger und aktu- eller quantitativer oder, falls dies nicht angemessen ist, qualitativer Informationen durch. Hierbei können Anlagestrategie, Rücknahmefristen, Zahlungsverpflichtungen und Fristen, innerhalb de- rer die Vermögensgegenstände veräußert werden können, sowie Informationen in Bezug auf allgemeines Anlegerverhalten und Marktentwicklungen einbezogen werden. Die Stresstests si- mulieren mangelnde Liquidität der Vermögenswerte im Fonds sowie atypische Rücknahmefor- derungen. Sie werden unter Berücksichtigung der Anlagestrategie, des Liquiditätsprofils, der An- legerstruktur und der Rücknahmegrundsätze des Fonds in einer der Art des Fonds angemessenen Häufigkeit, mindestens einmal jährlich, durchgeführt. | - The Company's liquidity management system is available in a reasonably documented form, re- vised at least once a year and updated if necessary.
- The implemented liquidity management system ensures, as a general rule, that the liquidity level of a given fund covers its underlying liabilities, with the relative liquidity of its assets being valued, inter alia, on the basis of the duration and price at which assets are disposed of.
- The liquidity level of each fund is also monitored in terms of its key obligations and liabilities as well as the marginal contribution of each individual asset. To this end, the Company considers (inter alia) the profile of the Fund's investor base, the type of investors, the relative size of invest- ments in the Fund and their redemption terms and conditions. If the Fund's assets are invested in other undertakings for collective investment, the approach to liquidity management followed by the asset managers of said other undertakings for collective investment is monitored and checks are regularly made to see if the redemption terms and conditions have been changed.
- The Company employs reasonable liquidity measurement precautions and procedures in order to determine the quantitative and qualitative risks of the Fund's individual assets. It does so based on reasonable knowledge and experience with regard to the liquidity of individual assets as well as with regard to the related trading volume, price sensitivity and spreads under normal and extraordinary liquidity conditions.
- As part of its liquidity management, the Company ensures that the processes and instruments necessary for managing liquidity risks are implemented. It does so by identifying the normal and extraordinary circumstances under which these instruments and precautionary measures may be used, with all investors being treated equally. The Company has appropriate escalation processes in place to manage current and potential liquidity problems or other emergency situations within the Fund.
- The Company sets individual liquidity limits, taking into account the nature, scope and complexity of each individual managed fund. These limits, which are continuously monitored, reflect the underlying liabilities and redemption principles; reasonable steps are taken to improve the liquid- ity situation if they are or may be exceeded. When setting these limits, the Company considers the liquidity management guidelines, the appropriateness of the liquidity profile of the Fund's assets, and the impact of atypical redemption requests. Periodic fluctuations are possible.
- The Company conducts regular stress tests with which it can assess the Fund's liquidity risks. The Company conducts stress tests based on current reliable quantitative or, if this is inadequate, qualitative information available. These may include investment strategies, redemption periods, payment obligations and deadlines within which assets may be disposed of, as well as infor- mation regarding general investor behaviour and market developments. The stress tests simulate a situation of a lack of liquidity of assets in the Fund, as well as atypical redemption requests. These are performed with a frequency appropriate for the Fund (at least once a year) and take into consideration the Fund's investment strategy, liquidity profile, investor structure and re- demption rules. | en | de |
DOLFIN3495 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
| KEY INFORMATION DOCUMENT | |
| --- | --- |
| Purpose | | |
| This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. |
| Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets NT CHF |
| PRODUCT |
| Product: | Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets NT CHF (hereinafter “Product”) is a unit class of the sub- fund Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets (hereinafter “Fund”), a sub-fund of the umbrella fund Swisscanto (LU) Equity Fund. |
| Issuer name: | The Fund is managed by Swisscanto Asset Management International S.A., Luxembourg (management company), a company of the Zürcher Kantonalbank Group. |
| Asset manager: | Zürcher Kantonalbank | |
| ISIN: | LU1900094084 | |
| Website: | www.swisscanto.com | |
| Phone: | +352 27 843 592 | |
| The fund and Swisscanto Asset Management International S.A., Luxembourg are authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). |
| Date of the document: | 01/01/2023 | | | | DOCUMENTO CONTENENTE LE INFORMAZIONI CHIAVE | |
| --- | --- |
| Scopo | | |
| Il presente documento fornisce le informazioni chiave relative a questo prodotto di investimento. Non si tratta di un documento promozionale. Le informazioni, prescritte per legge, hanno lo scopo di aiutarvi a capire le caratteristiche, i rischi, i costi e i guadagni e le perdite potenziali di questo prodotto e di aiutarvi a fare un raffronto con altri prodotti d’investimento. |
| Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets NT CHF |
| PRODOTTO |
| Prodotto: | Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets NT CHF (di seguito denominato «prodotto») è una classe di quote del comparto Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets (di seguito denominato «fondo»), un comparto del fondo a ombrello Swisscanto (LU) Equity Fund. |
| Ideatore: | Il fondo viene gestito dalla Swisscanto Asset Management International S.A., Lussemburgo (società di gestione), una società del gruppo Zürcher Kantonalbank. |
| Portfolio manager: | Zürcher Kantonalbank | |
| ISIN: | LU1900094084 | |
| Sito internet: | www.swisscanto.com | |
| Telefono: | +352 27 843 592 | |
| Il fondo e Swisscanto Asset Management International S.A., Lussemburgo sono autorizzati in Lussemburgo e regolamentati dalla Commission de Surveillance du Secteur Financier (CSSF). |
| Data di realizzazione: | 01/01/2023 | | | | KEY INFORMATION DOCUMENT | |
| --- | --- |
| Purpose | | |
| This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. |
| Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets NT CHF |
| PRODUCT |
| Product: | Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets NT CHF (hereinafter “Product”) is a unit class of the sub- fund Swisscanto (LU) Equity Fund Systematic Responsible Emerging Markets (hereinafter “Fund”), a sub-fund of the umbrella fund Swisscanto (LU) Equity Fund. |
| Issuer name: | The Fund is managed by Swisscanto Asset Management International S.A., Luxembourg (management company), a company of the Zürcher Kantonalbank Group. |
| Asset manager: | Zürcher Kantonalbank | |
| ISIN: | LU1900094084 | |
| Website: | www.swisscanto.com | |
| Phone: | +352 27 843 592 | |
| The fund and Swisscanto Asset Management International S.A., Luxembourg are authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). |
| Date of the document: | 01/01/2023 | | | en | it |
DOLFIN3496 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The valuation of inflation swaps is determined, in accordance with the Risk Management of Carmignac Gestion Luxembourg S.A., via the Bloomberg pricer. Bloomberg's BVOL Cube volatility is used.
For the details of outstanding inflation swaps, please refer to the section “Notes to the financial statements - Schedule of derivative instruments”.
- Net realised result on securities portfolioThe net realised result on the sale of securities is calculated on the basis of the average cost of the securities sold.
- Unrealised result on securities portfolioUnrealised gains and losses at year-end are also included in the statement of operations. This corresponds to the rules in force.
- Foreign currency conversionAssets other than those expressed in the sub-fund's currency (EUR) are converted at the most recent known exchange rates. Income and expenses in currencies other than the sub-fund's currency are converted into the sub-fund's currency at the exchange rates prevailing on the payment date.
- Income, expenses and provisionsAccrued interest on portfolios, deposits and pensions, as well as expenses, are provisioned daily until maturity. Dividends are recorded on the "ex-date". Interest and income are recorded net of non-recoverable withholding taxes.
- Remuneration for securities lendingThe remuneration allocated in payment for securities lending is made in cash and appears in the financial statements under the heading "Income from securities lending".
- AbbreviationsXX: Perpetual bonds ZCP: zero coupon | Die Bewertung der Inflationsswaps erfolgt im Einklang mit dem Risk Management von Carmignac Gestion Luxembourg S.A. durch den Bloomberg-Pricer. Die Volatilität BVOL Cube von Bloomberg wird verwendet.
Einzelheiten zu offenen Inflationsswaps sind im Teil „Erläuterungen zum Abschluss – Aufstellung der derivativen Finanzinstrumente“ enthalten.
- Realisiertes Nettoergebnis aus dem WertpapierportfolioDas realisierte Nettoergebnis aus Wertpapierverkäufen wird auf Grundlage des durchschnittlichen Preises der verkauften Wertpapiere berechnet.
- Nicht realisiertes Ergebnis aus dem WertpapierportfolioDer nicht realisierte Gewinn und Verlust am Ende des Geschäftsjahres ist ebenfalls in der Ertrags- und Aufwandsrechnung enthalten. Dies entspricht den geltenden Vorschriften.
- Umrechnung von ausländischen WährungenVermögenswerte, die auf andere Währungen als die Währung des jeweiligen Teilfonds (EUR) lauten, werden zu den letzten bekannten Wechselkursen umgerechnet. Erträge und Aufwendungen in anderen Währungen als der Währung des jeweiligen Teilfonds werden zu dem am Abrechnungstag geltenden Wechselkurs in die Währung des Teilfonds umgerechnet.
- Erträge, Ausgaben und RückstellungenDie aufgelaufenen Zinsen für das Portfolio, für Einlagen und Pensionsgeschäfte sowie die Aufwendungen werden täglich bis zu ihrer Fälligkeit zurückgestellt. Die Dividenden werden am „Ex-Tag“ gezahlt. Die Zinsen und Erträge werden ohne nicht erstattungsfähige Kapitalertragssteuern verbucht.
- Entgelt für WertpapierleiheDas im Rahmen der Wertpapierleihe zu zahlende Entgelt ist bar zahlbar und wird im Jahresabschluss unter dem Posten„Erträge aus Wertpapierleihgeschäften“ ausgewiesen.
- AbkürzungenXX: Ewige Anleihen ZCP: Nullkupon | The valuation of inflation swaps is determined, in accordance with the Risk Management of Carmignac Gestion Luxembourg S.A., via the Bloomberg pricer. Bloomberg's BVOL Cube volatility is used.
For the details of outstanding inflation swaps, please refer to the section “Notes to the financial statements - Schedule of derivative instruments”.
- Net realised result on securities portfolioThe net realised result on the sale of securities is calculated on the basis of the average cost of the securities sold.
- Unrealised result on securities portfolioUnrealised gains and losses at year-end are also included in the statement of operations. This corresponds to the rules in force.
- Foreign currency conversionAssets other than those expressed in the sub-fund's currency (EUR) are converted at the most recent known exchange rates. Income and expenses in currencies other than the sub-fund's currency are converted into the sub-fund's currency at the exchange rates prevailing on the payment date.
- Income, expenses and provisionsAccrued interest on portfolios, deposits and pensions, as well as expenses, are provisioned daily until maturity. Dividends are recorded on the "ex-date". Interest and income are recorded net of non-recoverable withholding taxes.
- Remuneration for securities lendingThe remuneration allocated in payment for securities lending is made in cash and appears in the financial statements under the heading "Income from securities lending".
- AbbreviationsXX: Perpetual bonds ZCP: zero coupon | en | de |
DOLFIN3497 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
#### Liability of the Depositary
In the event of a loss of a financial instrument held in custody which is determined in accor- dance with the UCITS Directive and in particular article 18 of the UCITS Regulation, the Deposi- tary shall immediately return to the Management Company operating in the name of the fund any financial instrument of the same type or refund the corresponding amount without delay.
The Depositary shall not be liable if it can prove that the loss of a financial instrument held in custody is attributable to external events that cannot reasonably be controlled and the conse- quences of which could not have been avoided despite all reasonable efforts under the UCITS Directive.
In the event of the loss of financial instruments held in custody, unitholders may assert liability claims against the Depositary directly or indirectly through the Management Company, provided that this does not lead to duplication of claims for recourse or unequal treatment of the unitholders.
The Depositary shall be liable to the fund for all other losses incurred by the fund as a result of its negligent or intentional failure to comply with its obligations under the UCITS Directive.
The Depositary shall not be liable for indirect or consequential damages or special damages or losses resulting from or in connection with the performance or non-performance of tasks and duties by the Depositary. | #### Haftung der Verwahrstelle
Bei einem Verlust eines verwahrten Finanzinstru ments, der gemäß der OGAWRichtlinie und insbesondere gemäß Artikel 18 der OGAW Verordnung festgestellt wird, gibt die Verwahr stelle unverzüglich Finanzinstrumente gleicher Art an die im Namen des Fonds handelnde Verwaltungsgesellschaft zurück oder erstattet unverzüglich den entsprechenden Betrag.
Die Verwahrstelle haftet nicht, wenn sie nach weisen kann, dass der Verlust eines verwahrten Finanzinstruments auf äußere Ereignisse, die nach vernünftigem Ermessen nicht kontrolliert werden können und deren Konsequenzen trotz aller angemessenen Anstrengungen gemäß der OGAWRichtlinie nicht hätten vermieden werden können, zurückzuführen ist.
Beim Verlust von verwahrten Finanzinstrumenten können die Anteilinhaber Haftungsansprüche gegenüber der Verwahrstelle unmittelbar oder mittelbar über die Verwaltungsgesellschaft geltend machen, soweit dies nicht zur Verdopp lung von Regressansprüchen oder zur Ungleich behandlung der Anteilinhaber führt.
Die Verwahrstelle haftet gegenüber dem Fonds für sämtliche sonstige Verluste, die der Fonds infolge einer fahrlässigen oder vorsätzlichen Nichterfüllung der Verpflichtungen der Verwahr stelle aus der OGAWRichtlinie erleidet.
Die Verwahrstelle haftet nicht für indirekte Schäden oder Folgeschäden oder spezielle Schäden oder Verluste, die durch die oder in Verbindung mit der Erfüllung oder Nichterfüllung der Aufgaben und Pflichten durch die Verwahrstelle entstehen. | #### Liability of the Depositary
In the event of a loss of a financial instrument held in custody which is determined in accor- dance with the UCITS Directive and in particular article 18 of the UCITS Regulation, the Deposi- tary shall immediately return to the Management Company operating in the name of the fund any financial instrument of the same type or refund the corresponding amount without delay.
The Depositary shall not be liable if it can prove that the loss of a financial instrument held in custody is attributable to external events that cannot reasonably be controlled and the conse- quences of which could not have been avoided despite all reasonable efforts under the UCITS Directive.
In the event of the loss of financial instruments held in custody, unitholders may assert liability claims against the Depositary directly or indirectly through the Management Company, provided that this does not lead to duplication of claims for recourse or unequal treatment of the unitholders.
The Depositary shall be liable to the fund for all other losses incurred by the fund as a result of its negligent or intentional failure to comply with its obligations under the UCITS Directive.
The Depositary shall not be liable for indirect or consequential damages or special damages or losses resulting from or in connection with the performance or non-performance of tasks and duties by the Depositary. | en | de |
DOLFIN3498 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
The past performance is shown after deduction of ongoing charges. Any entry/exit fees are excluded from the calculation.
The Fund was launched on 01/07/1993.
The share class of the Fund was launched on 15/07/2021.
Performance is shown only where full calendar-year performance history is available.
Past performance has been calculated in EUR and is expressed as a percentage change of the Fund's net asset value at each year end.
This past performance is calculated from the past performance of Class C2 USD converted at the applicable spot exchange rate.
The benchmark performance is in a different currency than the share class which may impact the performance comparison. | La rentabilidad histórica se indica tras deducirse los gastos corrientes. Se excluyen del cálculo cualesquiera comisiones de entrada y salida.
El Fondo se lanzó el 01/07/1993.
La clase de acciones del Fondo se lanzó el 15/07/2021.
Solo se indica la rentabilidad histórica cuando existe un historial de rentabilidad de un año natural completo.
La rentabilidad histórica se ha calculado en EUR y se expresa como variación porcentual del patrimonio neto del Fondo al final de cada año.
Esta rentabilidad histórica se calcula a partir de la rentabilidad histórica de la clase C2 USD convertida al tipo de cambio al contado aplicable.
La rentabilidad del índice de referencia y la clase de acciones se expresan en monedas distintas, lo que puede ser relevante al comparar la rentabilidad. | The past performance is shown after deduction of ongoing charges. Any entry/exit fees are excluded from the calculation.
The Fund was launched on 01/07/1993.
The share class of the Fund was launched on 15/07/2021.
Performance is shown only where full calendar-year performance history is available.
Past performance has been calculated in EUR and is expressed as a percentage change of the Fund's net asset value at each year end.
This past performance is calculated from the past performance of Class C2 USD converted at the applicable spot exchange rate.
The benchmark performance is in a different currency than the share class which may impact the performance comparison. | en | es |
DOLFIN3499 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
###### No Luxembourg tax is payable on realised or unrealised capital appreciation of the assets of the Fund.
No stamp duty or other tax is payable in Luxembourg on the issue of Shares in the Fund against cash. However, the Fund is liable to a fixed registration duty of EUR 75.- on the registration of its incorporation or on any amendment to its articles of association.
Dividends and interest and capital gains (if any) received by the Fund on its investments may be subject to non-recoverable withholding or other taxes in the countries of origin. It is anticipated that the Fund may not be able to benefit from reduced rates of withholding tax in double taxation agreements between Luxembourg and such countries. As the Fund itself is exempt from income tax, withholding tax levied at source, if any, is not refundable in Luxembourg. Whether the Company may benefit from a double tax treaty entered into by Luxembourg must be analysed on a case-by-case basis.
The Fund is considered in Luxembourg as a taxable person for VAT purposes without any input VAT deduction right. A VAT exemption applies in Luxembourg for services qualifying as fund management services. Other services supplied to the Fund could potential ly trigger VAT and require the VAT registration of the Fund in Luxembourg. As a result of such VAT registration, the Fund will be in a position to fulfil its duty to self-assess the VAT regarded as due in Luxembourg on taxable services (or goods to some extent) purchased from abroad.
- Taxation of shareholdersNo VAT liability arises in principle in Luxembourg in respect of any payments by the Fund to its shareholders, to the extent such payments are linked to their subscription to the Shares and do, therefore, not constitute the consideration received for taxable services supplied. | ##### Aucun impôt luxembourgeois n’est dû sur les plus-values réalisées ou latentes des actifs du Fonds.
Aucun droit de timbre ou autre impôt n’est dû au Luxembourg sur l’émission d’Actions du Fonds en échange d’un paiement en numéraire. Cependant, le Fonds est soumis à un droit d’enregistrement fixe de 75 euros lors de l’enregistrement de sa constitution ou lors de toute modification de ses statuts.
Les dividendes, intérêts et plus-values (le cas échéant) perçus par le Fonds sur ses placements peuvent être soumis à une retenue ou d’autres impôts non récupérables dans les pays d’origine. Il est attendu que le Fonds ne soit pas en mesure de bénéficier de taux réduits de retenues à la source dans les accords relatifs à la double imposition entre le Luxembourg et les pays concernés. Le Fonds lui-même étant exonéré de l’impôt sur le revenu, la retenue à la source éventuelle n’est pas remboursable au Luxembourg. La possibilité que la Société puisse bénéficier d’un accord préventif de la double imposition signé par le Luxembourg doit être étudiée au cas par cas.
Le Fonds est considéré au Luxembourg comme un contribuable au titre de la TVA sans droit de déduction de la TVA acquittée en amont. Une exemption de TVA est appliquée au Luxembourg pour les services pouvant prétendre au statut de services de gestion de fonds. Les autres services fournis par le Fonds peuvent potentiellement être soumis à la TVA et nécessiter l’inscription du Fonds
à la TVA au Luxembourg. Du fait de cette inscription à la TVA, le Fonds sera en mesure de respecter son obligation de calculer lui- même la TVA due au Luxembourg sur les services (ou les biens dans une certaine mesure) imposables achetés depuis l’étranger.
- Imposition des actionnairesEn principe, les paiements effectués par le Fonds à ses actionnaires ne sont pas soumis à la TVA au Luxembourg, tant que ces paiements sont liés à leur souscription d’Actions du Fonds et par conséquent ne constituent pas une contrepartie pour des services imposables fournis. | ###### No Luxembourg tax is payable on realised or unrealised capital appreciation of the assets of the Fund.
No stamp duty or other tax is payable in Luxembourg on the issue of Shares in the Fund against cash. However, the Fund is liable to a fixed registration duty of EUR 75.- on the registration of its incorporation or on any amendment to its articles of association.
Dividends and interest and capital gains (if any) received by the Fund on its investments may be subject to non-recoverable withholding or other taxes in the countries of origin. It is anticipated that the Fund may not be able to benefit from reduced rates of withholding tax in double taxation agreements between Luxembourg and such countries. As the Fund itself is exempt from income tax, withholding tax levied at source, if any, is not refundable in Luxembourg. Whether the Company may benefit from a double tax treaty entered into by Luxembourg must be analysed on a case-by-case basis.
The Fund is considered in Luxembourg as a taxable person for VAT purposes without any input VAT deduction right. A VAT exemption applies in Luxembourg for services qualifying as fund management services. Other services supplied to the Fund could potential ly trigger VAT and require the VAT registration of the Fund in Luxembourg. As a result of such VAT registration, the Fund will be in a position to fulfil its duty to self-assess the VAT regarded as due in Luxembourg on taxable services (or goods to some extent) purchased from abroad.
- Taxation of shareholdersNo VAT liability arises in principle in Luxembourg in respect of any payments by the Fund to its shareholders, to the extent such payments are linked to their subscription to the Shares and do, therefore, not constitute the consideration received for taxable services supplied. | en | fr |
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