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DOLFIN4000 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Performance overview - cumulated
## since 01.10.2019
## 80%
## 60%
## 40%
## 20%
## 0%
## -20%
## 04.2020 10.2020 04.2021 10.2021 04.2022
Portfolio net - monthly return Portfolio net - cumulated return
Portfolio net - cumulated return | # Aperçu de la performance - cumulée
## depuis 01.10.2019
## 80%
## 60%
## 40%
## 20%
## 0%
## -20%
## 04.2020 10.2020 04.2021 10.2021 04.2022
Portefeuille net - rendement mensuel Portefeuille net - rendement cumulé
Portefeuille net - rendement cumulé | # Performance overview - cumulated
## since 01.10.2019
## 80%
## 60%
## 40%
## 20%
## 0%
## -20%
## 04.2020 10.2020 04.2021 10.2021 04.2022
Portfolio net - monthly return Portfolio net - cumulated return
Portfolio net - cumulated return | en | fr |
DOLFIN4001 | 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 |
| R units (capitalisation): FR0011510056 |
| 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 R - Capitalizzazione FR0011510056 |
| Autorità competente: Autorità dei Mercati Finanziari Società di Gestione: Candriam France |
| OBIETTIVI E POLITICA DI INVESTIMENTO | | | 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 |
| R units (capitalisation): FR0011510056 |
| Competent authority: French Financial Markets Authority Management company: Candriam France |
| INVESTMENT OBJECTIVES AND POLICY | | en | it |
DOLFIN4002 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Les garanties reçues en espèces peuvent être uniquement placées en dépôts auprès de contreparties répondant aux critères d’éligibilité définis ci-dessus, investies dans des emprunts d’état de bonne qualité, utilisées pour les besoins de prise en pension rappelables à tout moment ou investies dans des fonds monétaires court terme, dans le respect des critères de diversification applicables.
Bien qu’investi dans des actifs présentant un faible degré de risque, les investissements effectués pourraient néanmoins comporter un faible risque financier.
- Conservation des garantiesEn cas de transfert de propriété, la garantie reçue sera conservée par la Banque Dépositaire. Pour les autres types d’accords donnant lieu à des garanties, celles-ci peuvent être conservées par un dépositaire tiers soumis à une surveillance prudentielle et qui n’a aucun lien avec le fournisseur des garanties financières. | Las garantías financieras recibidas en efectivo únicamente pueden colocarse en depósitos contratados con contrapartes que cumplan los criterios de elegibilidad establecidos a continuación, invertirse en deuda pública de alta calidad, utilizarse pa ra las necesidades de toma en garantía recuperable en todo momento o invertirse en fondos monetarios a corto plazo, respetando siempre los criterios de diversificación aplicables.
Si bien el efectivo se invierte en activos de bajo riesgo, las inversiones realizadas podrían conllevar un pequeño riesgo financiero.
- Conservación de las garantíasEn caso de transmisión de propiedades, la garantía recibida se conservará en el Depositario. En el caso de los demás tipos de acuerdo que den lugar a garantías, estas pueden conservarse en otro depositario sujeto a supervisión prudencial que no tenga relación alguna con el proveedor de las garantías financieras. | Les garanties reçues en espèces peuvent être uniquement placées en dépôts auprès de contreparties répondant aux critères d’éligibilité définis ci-dessus, investies dans des emprunts d’état de bonne qualité, utilisées pour les besoins de prise en pension rappelables à tout moment ou investies dans des fonds monétaires court terme, dans le respect des critères de diversification applicables.
Bien qu’investi dans des actifs présentant un faible degré de risque, les investissements effectués pourraient néanmoins comporter un faible risque financier.
- Conservation des garantiesEn cas de transfert de propriété, la garantie reçue sera conservée par la Banque Dépositaire. Pour les autres types d’accords donnant lieu à des garanties, celles-ci peuvent être conservées par un dépositaire tiers soumis à une surveillance prudentielle et qui n’a aucun lien avec le fournisseur des garanties financières. | fr | es |
DOLFIN4003 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
| Income | |
| --- | --- |
| Dividends, net | 20,150.00 |
| Interest on bonds and other debt securities, net | 65,060.31 |
| Bank interest | 2,408.50 |
| Other commissions received | 282,827.93 |
| Total income | 370,446.74 |
| Expenses | |
| Management fees | 2,520,975.70 |
| Performance fees | 4,883,671.46 |
| Depositary fees | 181,410.70 |
| Banking charges and other fees | 9,110.26 |
| Transaction fees | 20,014.61 |
| Central administration costs | 114,047.55 |
| Professional fees | 28,902.92 |
| Other administration costs | 55,353.13 |
| Subscription duty ("taxe d'abonnement") | 93,791.70 |
| Other taxes | 119,797.65 |
| Bank interest paid | 85,676.72 |
| Other expenses | 45,305.62 |
| Total expenses | 8,158,058.02 |
| Net investment loss | -7,787,611.28 |
| Net realised gain/(loss) | |
| - on securities portfolio | 16,791,229.81 |
| - on futures contracts | -1,893,945.28 |
| - on forward foreign exchange contracts | 651,111.51 |
| - on foreign exchange | 117,618.04 |
| Realised result | 7,878,402.80 |
| Net variation of the unrealised gain/(loss) | |
| - on securities portfolio | 32,414,148.29 |
| - on futures contracts | -157,064.92 |
| Result of operations | 40,135,486.17 |
| Dividends paid | -666,108.55 |
| Subscriptions | 53,897,563.51 |
| Redemptions | -44,414,067.59 |
| Total changes in net assets | 48,952,873.54 |
| Total net assets at the beginning of the year | 390,107,741.31 |
| Total net assets at the end of the year | 439,060,614.85 | | | Erträge | |
| --- | --- |
| Nettodividendenerträge | 20.150,00 |
| Nettozinserträge aus Anleihen und anderen Schuldverschreibungen | 65.060,31 |
| Bankzinsen | 2.408,50 |
| Andere erhaltene Kommissionen | 282.827,93 |
| Gesamterträge | 370.446,74 |
| Aufwendungen | |
| Verwaltungsvergütung | 2.520.975,70 |
| Erfolgsabhängige Gebühr | 4.883.671,46 |
| Depotgebühren | 181.410,70 |
| Bankspesen und sonstige Gebühren | 9.110,26 |
| Transaktionskosten | 20.014,61 |
| Zentralverwaltungsaufwand | 114.047,55 |
| Honorare externer Dienstleister | 28.902,92 |
| Sonstiger Verwaltungsaufwand | 55.353,13 |
| Kapitalsteuer ("taxe d'abonnement") | 93.791,70 |
| Andere Steuern | 119.797,65 |
| Bezahlte Bankzinsen | 85.676,72 |
| Sonstige Aufwendungen | 45.305,62 |
| Gesamtaufwendungen | 8.158.058,02 |
| Summe des Nettoverlustes | -7.787.611,28 |
| Nettorealisierte Werterhöhungen / (Wertverminderungen) | |
| - aus Wertpapieren | 16.791.229,81 |
| - aus Terminkontrakten | -1.893.945,28 |
| - aus Devisentermingeschäften | 651.111,51 |
| - aus Devisengeschäften | 117.618,04 |
| Realisiertes Ergebnis | 7.878.402,80 |
| Nettoveränderung der nicht realisierten Werterhöhungen / (Wertverminderungen) | |
| - aus Wertpapieren | 32.414.148,29 |
| - aus Terminkontrakten | -157.064,92 |
| Ergebnis | 40.135.486,17 |
| Ausschüttungen | -666.108,55 |
| Zeichnung von Anteilen | 53.897.563,51 |
| Rücknahme von Anteilen | -44.414.067,59 |
| Summe der Veränderungen des Nettovermögens | 48.952.873,54 |
| Nettovermögen zu Beginn des Geschäftsjahres | 390.107.741,31 |
| Nettovermögen am Ende des Geschäftsjahres | 439.060.614,85 | | | Income | |
| --- | --- |
| Dividends, net | 20,150.00 |
| Interest on bonds and other debt securities, net | 65,060.31 |
| Bank interest | 2,408.50 |
| Other commissions received | 282,827.93 |
| Total income | 370,446.74 |
| Expenses | |
| Management fees | 2,520,975.70 |
| Performance fees | 4,883,671.46 |
| Depositary fees | 181,410.70 |
| Banking charges and other fees | 9,110.26 |
| Transaction fees | 20,014.61 |
| Central administration costs | 114,047.55 |
| Professional fees | 28,902.92 |
| Other administration costs | 55,353.13 |
| Subscription duty ("taxe d'abonnement") | 93,791.70 |
| Other taxes | 119,797.65 |
| Bank interest paid | 85,676.72 |
| Other expenses | 45,305.62 |
| Total expenses | 8,158,058.02 |
| Net investment loss | -7,787,611.28 |
| Net realised gain/(loss) | |
| - on securities portfolio | 16,791,229.81 |
| - on futures contracts | -1,893,945.28 |
| - on forward foreign exchange contracts | 651,111.51 |
| - on foreign exchange | 117,618.04 |
| Realised result | 7,878,402.80 |
| Net variation of the unrealised gain/(loss) | |
| - on securities portfolio | 32,414,148.29 |
| - on futures contracts | -157,064.92 |
| Result of operations | 40,135,486.17 |
| Dividends paid | -666,108.55 |
| Subscriptions | 53,897,563.51 |
| Redemptions | -44,414,067.59 |
| Total changes in net assets | 48,952,873.54 |
| Total net assets at the beginning of the year | 390,107,741.31 |
| Total net assets at the end of the year | 439,060,614.85 | | en | de |
DOLFIN4004 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# b0ae6916-9876-424b-845c-a13e87dde70b
| Composition of costs | |
| --- | --- |
| One-off costs upon entry or exit | | If you exit after 1 year |
| Entry costs | 0.0% of the value of your investment when entering. | EUR 0 |
| Exit costs | 0.0% of the value of your investment before it is paid out to you. | EUR 0 |
| Ongoing costs taken each year | | |
| Management fees and other administrative or operating costs | 0.7% of the value of your investment per year. | EUR 66 |
| Transaction costs | 0.1% 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. | EUR 14 |
Performance fees There is no performance fee for this product. n/a
How long should I hold it and can I take money out early? | # 2ca58eb8-edfa-471e-b489-3489c013eb48
| Composizione dei costi | |
| --- | --- |
| Costi una tantum di ingresso o di uscita | | In caso di uscita dopo 1 anno |
| Costi di ingresso | 0,0% del valore dell’investimento al momento della sottoscrizione. | EUR 0 |
| Costi di uscita | 0,0% del valore del vostro investimento prima che vi venga pagato. | EUR 0 |
| Costi correnti sostenuti ogni anno | | |
| Commissioni di gestione e altri costi amministrativi o operativi | 0,7% del valore del vostro investimento all’anno. | EUR 66 |
| Costi di transazione | 0,1% del valore del vostro 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 di quanto viene acquistato e venduto. | EUR 14 |
Commissioni di performance Non vi è nessuna commissione di performance per questo prodotto. n/a
Per quanto tempo devo detenerlo? Posso ritirare il capitale anticipatamente? | # b0ae6916-9876-424b-845c-a13e87dde70b
| Composition of costs | |
| --- | --- |
| One-off costs upon entry or exit | | If you exit after 1 year |
| Entry costs | 0.0% of the value of your investment when entering. | EUR 0 |
| Exit costs | 0.0% of the value of your investment before it is paid out to you. | EUR 0 |
| Ongoing costs taken each year | | |
| Management fees and other administrative or operating costs | 0.7% of the value of your investment per year. | EUR 66 |
| Transaction costs | 0.1% 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. | EUR 14 |
Performance fees There is no performance fee for this product. n/a
How long should I hold it and can I take money out early? | en | it |
DOLFIN4005 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| One-off charges taken before or after you invest |
| --- |
| Entry charge | 4.00% |
| Exit charge | 0.00% |
| This is the maximum that might be taken out of your money before it is invested / before the proceeds of your investment are paid out. |
| Charges taken from the fund over a year |
| Ongoing charges | 2.81% |
| Charges taken from the fund under certain specific conditions |
| Performance fee There are no performance fees for this Fund. | | | Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión |
| --- |
| Gastos de entrada | 4.00% |
| Gastos de salida | 0.00% |
| Este es el máximo que puede detraerse de su capital antes de proceder a la inversión / antes de abonar el producto de la inversión. |
| Gastos detraídos del fondo a lo largo de un año |
| Gastos corrientes | 2.81% |
| Gastos detraídos del fondo en determinadas condiciones específicas |
| Comisión de rentabilidad En este fondo no se aplican comisiones de rentabilidad. | | | One-off charges taken before or after you invest |
| --- |
| Entry charge | 4.00% |
| Exit charge | 0.00% |
| This is the maximum that might be taken out of your money before it is invested / before the proceeds of your investment are paid out. |
| Charges taken from the fund over a year |
| Ongoing charges | 2.81% |
| Charges taken from the fund under certain specific conditions |
| Performance fee There are no performance fees for this Fund. | | en | es |
DOLFIN4006 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
## Deduction of Tax
Tax will be deducted and remitted to the Revenue Commissioners by the Company from any distributions made by the Company to an Irish Resident Shareholder who is not an Exempt Irish Resident at the rate of 41 per cent.
Tax will also be deducted by the Company and remitted to the Revenue Commissioners from any gain arising on an encashment, repurchase, redemption, cancellation or other disposal of Shares by such a Shareholder at the rate of 41 per cent. Any gain will be computed as the difference between the value of the Shareholder’s investment in the Company at the date of the chargeable event and the original cost of the investment as calculated under special rules.
Where the Shareholder is an Irish resident company and the Company is in possession of a relevant declaration from the Shareholder that it is a company and which includes the company’s tax reference number, tax will be deducted by the Company from any distributions made by the Company to the Shareholder and from any gains arising on an encashment, repurchase, redemption, cancellation or other disposal of shares by the Shareholder at the rate of 25 per cent. | ## Einbehalt von Steuern
Von allen Ausschüttungen der Gesellschaft an einen in Irland ansässigen Anteilinhaber, der kein steuerbefreiter in Irland ansässiger Anteilinhaber ist, wird von der Gesellschaft eine Steuer in Höhe von 41 Prozent einbehalten und an die Revenue Commissioners abgeführt.
Von jedem Gewinn, der aus einer Einlösung, einem Rückkauf, einer Rücknahme, einer Annullierung oder einer sonstigen Veräußerung von Anteilen durch einen solchen Anteilinhaber entsteht, wird von der Gesellschaft ebenfalls eine Steuer in Höhe von 41 Prozent einbehalten und an die Revenue Commissioners abgeführt. Ein etwaiger Gewinn wird als Differenz zwischen dem Wert der Anlage des Anteilinhabers an der Gesellschaft zum Zeitpunkt des steuerpflichtigen Ereignisses und den ursprünglichen Kosten der Anlage, wie sie nach besonderen Regeln berechnet werden, berechnet.
Wenn es sich bei dem Anteilinhaber um eine in Irland ansässige Gesellschaft handelt und die Gesellschaft im Besitz einer entsprechenden Erklärung des Anteilinhabers ist, dass es sich um eine Gesellschaft handelt, die die Steuernummer der Gesellschaft enthält, werden von der Gesellschaft Steuern von allen Ausschüttungen der Gesellschaft an den Anteilinhaber und von allen Gewinnen aus einer Einlösung, einem Rückkauf, einer Rücknahme, einer Annullierung oder einer anderen Veräußerung von Anteilen durch den Anteilinhaber in Höhe von 25 Prozent einbehalten. | ## Deduction of Tax
Tax will be deducted and remitted to the Revenue Commissioners by the Company from any distributions made by the Company to an Irish Resident Shareholder who is not an Exempt Irish Resident at the rate of 41 per cent.
Tax will also be deducted by the Company and remitted to the Revenue Commissioners from any gain arising on an encashment, repurchase, redemption, cancellation or other disposal of Shares by such a Shareholder at the rate of 41 per cent. Any gain will be computed as the difference between the value of the Shareholder’s investment in the Company at the date of the chargeable event and the original cost of the investment as calculated under special rules.
Where the Shareholder is an Irish resident company and the Company is in possession of a relevant declaration from the Shareholder that it is a company and which includes the company’s tax reference number, tax will be deducted by the Company from any distributions made by the Company to the Shareholder and from any gains arising on an encashment, repurchase, redemption, cancellation or other disposal of shares by the Shareholder at the rate of 25 per cent. | en | de |
DOLFIN4007 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Le Fonds vise une croissance du capital en investissant dans des entreprises enregistrant des rendements sur dividendes élevés et une forte croissance du capital. Il vise une croissance des revenus et du capital en investissant principalement dans des titres de participation et de créance émis par des sociétés de pays émergents internationaux ou en rapport avec les titres de sociétés de pays émergents internationaux, qui seront cotés ou négociés sur des marchés boursiers reconnus définis ou énumérés à l’Annexe II du Prospectus. Les investissements dans des titres de créance ne devront pas excéder 15% du total des actifs du Fonds. Le Fonds peut investir dans des titres non cotés soumis aux conditions de la Banque centrale et à la réglementation.
Le Fonds peut également investir dans des warrants librement transférables à bas prix d’exercice, des options à bas prix d’exercice, des obligations indexées sur des actions à coupon zéro, des contrats à terme sur action et sur indice, des options d’achat, des contrats financiers pour différences et des contrats de swaps qui, de l’avis du Gestionnaire d’investissement, constituent un moyen efficace d’exposer le Fonds à des titres de participation cotés ou négociés sur des marchés boursiers reconnus situés dans des marchés émergents internationaux et qui appartiennent à une catégorie pouvant être investie directement par le Fonds. Une petite part des actifs du Fonds peut également être investie dans des titres non cotés. Le Fonds ne peut acquérir de parts d’un autre organisme de placement collectif à capital variable (à l’exception des fonds négociés en Bourse). Le Fonds peut investir, au total, jusqu’à 10% de ses actifs nets dans des fonds négociés en bourse. Le Fonds peut investir dans certains instruments dérivés afin d’obtenir une exposition efficace aux entreprises sous-jacentes, ce qui pourrait exposer le Fonds à un effet de levier.
Le Fonds est considéré comme activement géré au regard de l’indice MSCI Emerging Markets Index (l’« Indice de référence ») en vertu du fait qu’il utilise l’Indice de référence à des fins de comparaison de la performance. Toutefois, l’Indice de référence n’est pas
utilisé pour définir la composition du portefeuille du Fonds ou comme un objectif de performance et le Fonds peut être entièrement investi dans des titres qui ne font pas partie de l’Indice de référence.
L’allocation des actifs du Fonds sera déterminée par le Gestionnaire à son entière discrétion et peut varier en fonction des conditions du marché. Le Fonds est géré selon une approche ascendante (« bottom-up ») de la sélection de titres et un processus de gestion des risques rigoureux.
Il peut investir dans toute entreprise des pays émergents et être exposé à tout titre, secteur ou territoire, à l'entière discrétion du gestionnaire.
Le Fonds peut faire appel à l’effet de levier à hauteur de 100% de sa valeur d’inventaire nette.
Les frais de transaction du portefeuille auront un impact significatif sur la performance. Ces frais sont déduits de l’actif du Fonds.
La devise de référence du Fonds est l’euro. Toute catégorie de parts libellée dans une devise autre que la devise de référence sera couverte contre le risque de change entre la devise de libellé de la catégorie et la devise de référence du fonds.
Recommandation : ce Fonds doit être considéré comme un placement à long terme. Cette Catégorie est une catégorie de distribution et des dividendes peuvent être distribués. Les autres catégories du Fonds procèdent soit par capitalisation, soit par distribution.
Vous pouvez obtenir le rachat de vos parts dans le Fonds tout jour ouvrable bancaire à Dublin, Londres et New York.
De plus amples informations figurent aux sections « Objectifs d’investissement » et « Politique d’investissement » du supplément relatif au Fonds (le « Supplément »). Sauf mention contraire dans le présent document, tous les termes et expressions définis dans le prospectus de la Société (le « Prospectus ») auront le même sens dans les présentes. | El objetivo de inversión del fondo es lograr el crecimiento del capital mediante la inversión en empresas que ofrecen rendimientos por dividendos elevados y un crecimiento del capital. El fondo tiene como objetivo una combinación de ingresos y crecimiento del capital mediante la inversión en renta variable y valores de renta fija emitidos por, o que guardan relación con, los valores de empresas de países emergentes globales que cotizarán o se negociarán en mercados reconocidos tal y como se definen y figuran en el Anexo II del folleto. La inversión en valores de renta fija no superará el 15% de los activos totales del fondo. El fondo podrá invertir en valores no cotizados, con sujeción a las exigencias del Banco Central y del Reglamento.
El fondo podrá invertir con fines de inversión en warrants con un reducido precio de ejercicio y de libre transferencia, opciones con un bajo precio de ejercicio, pagarés vinculados a renta variable de cupón cero, contratos de futuros sobre valores individuales e índices, opciones de compra, contratos por diferencias y contratos de swap que, en opinión del gestor de inversiones, ofrezcan un medio eficaz de proporcionar al fondo exposición a valores de renta variable cotizados o negociados que estén radicados en mercados reconocidos en países emergentes globales y que sean de un tipo en el que el fondo pueda invertir de forma directa. Una pequeña parte del fondo podrá invertirse también en valores no cotizados. El fondo no podrá comprar participaciones de ningún otro vehículo de inversión colectiva abierto (excepto fondos cotizados). El fondo podrá invertir hasta un total del 10% de su patrimonio neto en fondos cotizados. El fondo podrá invertir en algunos instrumentos derivados para adquirir exposición eficiente a las empresas subyacentes, lo que puede dar lugar a apalancamiento del fondo.
Se considera que el fondo está gestionado de forma activa tomando el índice MSCI Emerging Markets como referencia (la “referencia”), en virtud del hecho de que recurre
a este para comparar su rentabilidad. No obstante, la referencia no se utiliza para definir la composición de la cartera del fondo ni como objetivo de rentabilidad, y el fondo puede centrar toda su inversión en valores que no están incluidos en la referencia.
La asignación de los activos del fondo la determinará exclusivamente el gestor de inversiones, y podrá variar en función de las condiciones de mercado. El fondo se gestiona con un estilo de inversión de selección de títulos "bottom up" y está sujeto a un proceso riguroso de gestión del riesgo.
Cualquier empresa de mercados emergentes puede ser objetivo de inversión, y la decisión sobre la exposición del fondo a un título, sector o territorio específicos corresponde en exclusiva al gestor de inversiones.
El fondo podrá emplear apalancamiento hasta un 100% de su valor liquidativo.
Los costes de operaciones de la cartera afectarán sustancialmente a la rentabilidad. Dichos costes se detraen de los activos del fondo.
La divisa base del fondo es el euro. Toda clase de acciones que no esté denominada en la divisa base tendrá cobertura cambiaria frente a la exposición en divisas entre la moneda de denominación de la clase y la divisa base del fondo.
Recomendación: este fondo debe considerarse una inversión a largo plazo.
Esta clase es una clase de distribución, por lo que puede abonar dividendos. Otras clases del fondo son de acumulación o de distribución.
Las acciones del fondo pueden reembolsarse cualquier día hábil bancario en Dublín, Londres y Nueva York.
Para más información, consulte las secciones "Objetivo de inversión" y "Política de inversión del suplemento del fondo (el "Suplemento"). Salvo que se definan aquí de otra forma, todos los términos y expresiones definidos en el folleto con respecto a la sociedad (el "Folleto") tienen el mismo significado en este documento. | Le Fonds vise une croissance du capital en investissant dans des entreprises enregistrant des rendements sur dividendes élevés et une forte croissance du capital. Il vise une croissance des revenus et du capital en investissant principalement dans des titres de participation et de créance émis par des sociétés de pays émergents internationaux ou en rapport avec les titres de sociétés de pays émergents internationaux, qui seront cotés ou négociés sur des marchés boursiers reconnus définis ou énumérés à l’Annexe II du Prospectus. Les investissements dans des titres de créance ne devront pas excéder 15% du total des actifs du Fonds. Le Fonds peut investir dans des titres non cotés soumis aux conditions de la Banque centrale et à la réglementation.
Le Fonds peut également investir dans des warrants librement transférables à bas prix d’exercice, des options à bas prix d’exercice, des obligations indexées sur des actions à coupon zéro, des contrats à terme sur action et sur indice, des options d’achat, des contrats financiers pour différences et des contrats de swaps qui, de l’avis du Gestionnaire d’investissement, constituent un moyen efficace d’exposer le Fonds à des titres de participation cotés ou négociés sur des marchés boursiers reconnus situés dans des marchés émergents internationaux et qui appartiennent à une catégorie pouvant être investie directement par le Fonds. Une petite part des actifs du Fonds peut également être investie dans des titres non cotés. Le Fonds ne peut acquérir de parts d’un autre organisme de placement collectif à capital variable (à l’exception des fonds négociés en Bourse). Le Fonds peut investir, au total, jusqu’à 10% de ses actifs nets dans des fonds négociés en bourse. Le Fonds peut investir dans certains instruments dérivés afin d’obtenir une exposition efficace aux entreprises sous-jacentes, ce qui pourrait exposer le Fonds à un effet de levier.
Le Fonds est considéré comme activement géré au regard de l’indice MSCI Emerging Markets Index (l’« Indice de référence ») en vertu du fait qu’il utilise l’Indice de référence à des fins de comparaison de la performance. Toutefois, l’Indice de référence n’est pas
utilisé pour définir la composition du portefeuille du Fonds ou comme un objectif de performance et le Fonds peut être entièrement investi dans des titres qui ne font pas partie de l’Indice de référence.
L’allocation des actifs du Fonds sera déterminée par le Gestionnaire à son entière discrétion et peut varier en fonction des conditions du marché. Le Fonds est géré selon une approche ascendante (« bottom-up ») de la sélection de titres et un processus de gestion des risques rigoureux.
Il peut investir dans toute entreprise des pays émergents et être exposé à tout titre, secteur ou territoire, à l'entière discrétion du gestionnaire.
Le Fonds peut faire appel à l’effet de levier à hauteur de 100% de sa valeur d’inventaire nette.
Les frais de transaction du portefeuille auront un impact significatif sur la performance. Ces frais sont déduits de l’actif du Fonds.
La devise de référence du Fonds est l’euro. Toute catégorie de parts libellée dans une devise autre que la devise de référence sera couverte contre le risque de change entre la devise de libellé de la catégorie et la devise de référence du fonds.
Recommandation : ce Fonds doit être considéré comme un placement à long terme. Cette Catégorie est une catégorie de distribution et des dividendes peuvent être distribués. Les autres catégories du Fonds procèdent soit par capitalisation, soit par distribution.
Vous pouvez obtenir le rachat de vos parts dans le Fonds tout jour ouvrable bancaire à Dublin, Londres et New York.
De plus amples informations figurent aux sections « Objectifs d’investissement » et « Politique d’investissement » du supplément relatif au Fonds (le « Supplément »). Sauf mention contraire dans le présent document, tous les termes et expressions définis dans le prospectus de la Société (le « Prospectus ») auront le même sens dans les présentes. | fr | es |
DOLFIN4008 | 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 GBP |
| --- |
| 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 | 6 530 GBP | 7 860 GBP |
| | Rendement annuel moyen | - 34,67 % | - 5,83 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 9 120 GBP | 9 430 GBP |
| | Rendement annuel moyen | - 8,75% | - 1,45% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 250 GBP | 10 670 GBP |
| | Rendement annuel moyen | 2,55% | 1,62% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 060 GBP | 11 600 GBP |
| | Rendement annuel moyen | 10,61% | 3,78% | | | Período de mantenimiento mínimo recomendado: 4 Años Ejemplo de inversión: 10 000 GBP |
| --- |
| 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 | 6 530 GBP | 7 860 GBP |
| | Rendimiento medio cada año | - 34,67 % | - 5,83 % |
| Escenario desfavorable | Lo que puede recibir una vez deducidos los costes | 9 120 GBP | 9 430 GBP |
| | Rendimiento medio cada año | - 8,75% | - 1,45% |
| Escenario moderado | Lo que puede recibir una vez deducidos los costes | 10 250 GBP | 10 670 GBP |
| | Rendimiento medio cada año | 2,55% | 1,62% |
| Escenario favorable | Lo que puede recibir una vez deducidos los costes | 11 060 GBP | 11 600 GBP |
| | Rendimiento medio cada año | 10,61% | 3,78% | | | Période de détention minimum recommandée : 4 Ans Exemple d’investissement: 10 000 GBP |
| --- |
| 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 | 6 530 GBP | 7 860 GBP |
| | Rendement annuel moyen | - 34,67 % | - 5,83 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 9 120 GBP | 9 430 GBP |
| | Rendement annuel moyen | - 8,75% | - 1,45% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 250 GBP | 10 670 GBP |
| | Rendement annuel moyen | 2,55% | 1,62% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 060 GBP | 11 600 GBP |
| | Rendement annuel moyen | 10,61% | 3,78% | | fr | es |
DOLFIN4009 | 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 Twelve Capital UCITS ICAV - Twelve Cat Bond Fund SI1-JSS EUR Acc between 01/2018-01/2023.
Unfavourable scenario
What you might get back after costs
Average return each year
EUR 9,518
-4.8%
EUR 10,783
1.5% | # Este tipo de escenario se produjo para una inversión Twelve Capital UCITS ICAV - Twelve Cat Bond Fund SI1-JSS EUR Acc entre 01/2018-01/2023.
Escenario desfavorable
Lo que podría recibir una vez deducidos los costes
Rendimiento promedio cada año
9 518 EUR
-4,8%
10 783 EUR
1,5% | # This type of scenario occurred for an investment Twelve Capital UCITS ICAV - Twelve Cat Bond Fund SI1-JSS EUR Acc between 01/2018-01/2023.
Unfavourable scenario
What you might get back after costs
Average return each year
EUR 9,518
-4.8%
EUR 10,783
1.5% | en | es |
DOLFIN4010 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Politique d'investissement
Robeco QI Global Value Equities est un fonds à gestion active qui investit dans des actions de pays développés et émergents du monde entier. La sélection de ces titres est basée sur un modèle quantitatif. Le fonds vise une performance supérieure à l'indice. Le fonds vise un profil de durabilité supérieur à l'indice en favorisant des caractéristiques E et S (environnementales et sociales) au sens de l'Article 8 du Règlement européen sur la publication d'informations de durabilité du secteur financier, en intégrant les risques de durabilité dans le processus d'investissement, et en appliquant la politique de bonne gouvernance de Robeco. Le fonds applique des indicateurs de durabilité, y compris, mais sans s'y limiter, des exclusions normatives, ainsi qu'en ce qui concerne les activités et les régions, le vote par procuration et l'engagement. Le fonds investit dans des actions à faible prix par rapport aux fondamentaux et vise à exploiter la prime de valorisation en ciblant les titres Value les plus attractifs. Ceci est réalisé à l'aide d'un modèle qui classe les actions selon divers critères, dont la valorisation, le potentiel de solides bénéfices, le faible risque et le momentum. La majorité des titres sélectionnés seront des composantes de l'indice, mais pas nécessairement. Le fonds peut dévier des pondérations de l'indice. Le fonds vise à surperformer l'indice sur le long terme, tout en contrôlant le risque relatif en appliquant des limites (pays, secteurs et émetteurs) dans la mesure de l'écart par rapport à l'indice. Cela limitera l'écart de performance par rapport à l'indice. Le benchmark est un indice général de marché pondéré non conforme aux caractéristiques ESG favorisées par le fonds. | # Política de inversión
Robeco QI Global Value Equities es un fondo de gestión activa que invierte en acciones de países desarrollados y emergentes de todo el mundo. La selección de estas acciones se basa en un modelo cuantitativo. El objetivo del fondo es superar el rendimiento del índice. El fondo aspira a mejorar su perfil de sostenibilidad respecto al índice de referencia, fomenta criterios A y S (ambientales, sociales y de gobierno corporativo) en el marco del Artículo 8 del Reglamento europeo sobre divulgación de información relativa a las inversiones sostenibles, e integra riesgos de sostenibilidad en el proceso de inversión, además de aplicar la política de buen gobierno de Robeco. El fondo aplica indicadores de sostenibilidad, como pueden ser las exclusiones normativas, regionales y de actividad, el voto por delegación y la interacción. El fondo invierte en acciones de precio bajo respecto a sus fundamentales y trata de aprovechar la prima sobre el valor mediante la selección de los títulos value más atractivos. La selección de estas acciones Value se lleva a cabo empleando un modelo que las clasifica de diversas formas, incluyendo criterios de valoración, sólido potencial de beneficios, bajo riesgo e momentum. Aunque podrán incluirse títulos ajenos al índice de referencia, la mayor parte de los títulos seleccionados pertenecerá al mismo. El fondo podrá apartarse de las ponderaciones del índice de referencia. El fondo tiene como objetivo superar a largo plazo al índice de referencia, sin dejar de controlar el riesgo relativo, con la aplicación de límites (sobre países, sectores y emisores) respecto al grado de desviación frente al índice de referencia, A su vez, ello limitará la desviación de la rentabilidad frente a dicho índice. El índice de referencia es un índice ponderado del conjunto del mercado que no es coherente con los criterios ASG que fomenta el fondo. | # Politique d'investissement
Robeco QI Global Value Equities est un fonds à gestion active qui investit dans des actions de pays développés et émergents du monde entier. La sélection de ces titres est basée sur un modèle quantitatif. Le fonds vise une performance supérieure à l'indice. Le fonds vise un profil de durabilité supérieur à l'indice en favorisant des caractéristiques E et S (environnementales et sociales) au sens de l'Article 8 du Règlement européen sur la publication d'informations de durabilité du secteur financier, en intégrant les risques de durabilité dans le processus d'investissement, et en appliquant la politique de bonne gouvernance de Robeco. Le fonds applique des indicateurs de durabilité, y compris, mais sans s'y limiter, des exclusions normatives, ainsi qu'en ce qui concerne les activités et les régions, le vote par procuration et l'engagement. Le fonds investit dans des actions à faible prix par rapport aux fondamentaux et vise à exploiter la prime de valorisation en ciblant les titres Value les plus attractifs. Ceci est réalisé à l'aide d'un modèle qui classe les actions selon divers critères, dont la valorisation, le potentiel de solides bénéfices, le faible risque et le momentum. La majorité des titres sélectionnés seront des composantes de l'indice, mais pas nécessairement. Le fonds peut dévier des pondérations de l'indice. Le fonds vise à surperformer l'indice sur le long terme, tout en contrôlant le risque relatif en appliquant des limites (pays, secteurs et émetteurs) dans la mesure de l'écart par rapport à l'indice. Cela limitera l'écart de performance par rapport à l'indice. Le benchmark est un indice général de marché pondéré non conforme aux caractéristiques ESG favorisées par le fonds. | fr | es |
DOLFIN4011 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# What is this product?
## Type
This is an Irish UCITS variable capital umbrella investment company with segregated liability between sub-funds authorised by the Central Bank of Ireland.
## Term
This product has no fixed term. The product may be liquidated under limited circumstances as detailed in the prospectus.
## Objectives
Any income the Fund generates will be accumulated and reinvested on behalf of investors.
The fund aims to achieve capital growth by investing primarily in shares of companies of all sizes traded or listed in Japan.
The fund shall invest primarily in equity and equity-related securities in Japan and also up to 30% of the value of the fund may be invested in non- Japanese companies that have business activities in Japan. The fund will target companies that are considered to have good prospects for growth including those going through significant business changes.
The fund is considered to be actively managed in reference to the index (Topix Index) by virtue of the fact that it uses the index for performance comparison purposes. However, the index is not used to define the portfolio composition of the fund or as a performance target and the fund may be wholly invested in securities which are not constituents of the index. The fund's performance is measured against the index although investment is not restricted to companies in this index.
## Intended retail investor
The fund is intended for retail and institutional investors. The fund may not be appropriate for investors who plan to withdraw their money within 5 years.
The fund is suitable for investors seeking long-term capital growth and who are prepared to accept a moderate level of volatility.
For full investment objectives and policy details please refer to the prospectus.
## Other Information
Investors may switch their investment into shares of other funds upon request and further details can be found in the prospectus. Investors may redeem their investment on each business day of the fund. | # En quoi consiste ce produit ?
## Type
Il s'agit d'une société d'investissement irlandaise agréée par la Banque centrale irlandaise en tant qu'OPCVM à compartiments multiples à capital variable avec séparation des passifs entre les compartiments.
## Durée
Ce produit n'a pas de durée déterminée. Le produit peut être liquidé dans des circonstances bien définies détaillées dans le prospectus.
## Objectifs
Tout revenu généré par le Fonds sera accumulé et réinvesti pour le compte des investisseurs.
Le fonds vise à obtenir une croissance du capital en investissant principalement dans des actions de sociétés de toutes tailles, négociées ou cotées au Japon.
Le fonds investira principalement dans des titres de capital et des titres liés à des titres de capital au Japon, et jusqu'à 30% de la valeur du fonds peuvent être investis dans des sociétés non japonaises qui ont des activités commerciales au Japon. Le fonds ciblera les sociétés qui sont considérées comme ayant de bonnes perspectives de croissance y compris celles qui connaissent des modifications commerciales importantes.
Le fonds est considéré comme étant géré de manière active en référence à l'indice (Topix Indecx) en vertu du fait qu'il a recours à l'indice à des fins de comparaison des performances. Cependant, l'indice n'est pas utilisé pour définir la composition du portefeuille du fonds ou comme objectif de performance et le fonds peut être entièrement investi dans des titres qui ne sont pas des composants de l'indice. Les performances du fonds sont mesurées par rapport à l'indice bien que l'investissement ne se limite pas aux sociétés comprises dans cet indice.
## Investisseur de détail visé
Le fonds est destiné aux investisseurs de détail et aux investisseurs institutionnels. Le fonds pourrait ne pas convenir aux investisseurs qui prévoient de retirer leur apport d'ici cinq ans.
Le fonds convient aux investisseurs en quête d'une croissance du capital à long terme et qui sont prêts à accepter un niveau modéré de volatilité.
Pour des informations détaillées sur les objectifs et la politique d'investissement, nous vous invitons à consulter le prospectus.
## Autres informations
Les investisseurs peuvent convertir leur investissement en actions ou autres fonds sur demande ; de plus amples informations sont disponibles dans le prospectus. Les investisseurs peuvent racheter leur investissement tous les jours ouvrables du fonds. | # What is this product?
## Type
This is an Irish UCITS variable capital umbrella investment company with segregated liability between sub-funds authorised by the Central Bank of Ireland.
## Term
This product has no fixed term. The product may be liquidated under limited circumstances as detailed in the prospectus.
## Objectives
Any income the Fund generates will be accumulated and reinvested on behalf of investors.
The fund aims to achieve capital growth by investing primarily in shares of companies of all sizes traded or listed in Japan.
The fund shall invest primarily in equity and equity-related securities in Japan and also up to 30% of the value of the fund may be invested in non- Japanese companies that have business activities in Japan. The fund will target companies that are considered to have good prospects for growth including those going through significant business changes.
The fund is considered to be actively managed in reference to the index (Topix Index) by virtue of the fact that it uses the index for performance comparison purposes. However, the index is not used to define the portfolio composition of the fund or as a performance target and the fund may be wholly invested in securities which are not constituents of the index. The fund's performance is measured against the index although investment is not restricted to companies in this index.
## Intended retail investor
The fund is intended for retail and institutional investors. The fund may not be appropriate for investors who plan to withdraw their money within 5 years.
The fund is suitable for investors seeking long-term capital growth and who are prepared to accept a moderate level of volatility.
For full investment objectives and policy details please refer to the prospectus.
## Other Information
Investors may switch their investment into shares of other funds upon request and further details can be found in the prospectus. Investors may redeem their investment on each business day of the fund. | en | fr |
DOLFIN4012 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Coûts au fil du temps
Les tableaux présentent les montants prélevés sur votre investissement afin de couvrir les différents types de coûts. Ces montants dépendent du montant que vous investissez, du temps pendant lequel vous détenez le produit et du rendement du produit. Les montants indiqués ici sont des illustrations basées sur un exemple de montant d’investissement et différentes périodes d’investissement possibles :
Nous avons supposé :
- qu’au cours de la première année vous récupéreriez le montant que vous avez investi (rendement annuel de 0 %). Pour les autres périodes de détention, nous avons supposé que le produit évolue de la manière indiquée dans le scénario intermédiaire.
- GBP10 000 est investi.
| Investissement 10 000 GBP | Si vous sortez après 1 An | Si vous sortez après 5 Ans |
| --- | --- | --- |
| Coûts totaux | 246 GBP | 1432 GBP |
| Incidence des coûts annuels* | 2,46 % | 1,82 % |
(*) Elle montre dans quelle mesure les coûts réduisent annuellement votre rendement au cours de la période de détention. Par exemple, elle montre que si vous sortez à la fin de la période de détention recommandée, il est prévu que votre rendement moyen par an soit de 12,92 % avant déduction des coûts et de 11,10 % après cette déduction. | # Costes a lo largo del tiempo
Los cuadros muestran los importes que se detraen de su inversión para cubrir diferentes tipos de costes. Estos importes dependen de cuánto invierte, de cuánto tiempo mantiene el producto y de lo buenos que sean los resultados del producto. Los importes indicados aquí ilustran un ejemplo de inversión de una determinada cuantía durante diferentes períodos de inversión posibles:
Hemos partido de los siguientes supuestos:
- - En el primer año recuperaría usted el importe invertido (rendimiento anual del 0 %). Para los otros periodos de tenencia hemos supuesto que el producto se comporta como se muestra en el escenario moderado.
- GBP10 000se invierte.
| Inversión 10 000 GBP | En caso de salida después de 1 Año | En caso de salida después de 5 Años |
| --- | --- | --- |
| Costes totales | 246 GBP | 1432 GBP |
| Incidencia anual de los costes* | 2,46 % | 1,82 % |
(*) Refleja la medida en que los costes reducen su rendimiento cada año a lo largo del período de mantenimiento. Por ejemplo, muestra que, en caso de salida al término del período de mantenimiento recomendado, el rendimiento medio que se prevé que obtendrá cada año será del 12,92 % antes de deducir los costes y del 11,10 % después de deducir los costes. | # Coûts au fil du temps
Les tableaux présentent les montants prélevés sur votre investissement afin de couvrir les différents types de coûts. Ces montants dépendent du montant que vous investissez, du temps pendant lequel vous détenez le produit et du rendement du produit. Les montants indiqués ici sont des illustrations basées sur un exemple de montant d’investissement et différentes périodes d’investissement possibles :
Nous avons supposé :
- qu’au cours de la première année vous récupéreriez le montant que vous avez investi (rendement annuel de 0 %). Pour les autres périodes de détention, nous avons supposé que le produit évolue de la manière indiquée dans le scénario intermédiaire.
- GBP10 000 est investi.
| Investissement 10 000 GBP | Si vous sortez après 1 An | Si vous sortez après 5 Ans |
| --- | --- | --- |
| Coûts totaux | 246 GBP | 1432 GBP |
| Incidence des coûts annuels* | 2,46 % | 1,82 % |
(*) Elle montre dans quelle mesure les coûts réduisent annuellement votre rendement au cours de la période de détention. Par exemple, elle montre que si vous sortez à la fin de la période de détention recommandée, il est prévu que votre rendement moyen par an soit de 12,92 % avant déduction des coûts et de 11,10 % après cette déduction. | fr | es |
DOLFIN4013 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| Composition of costs |
| --- |
| One-off costs upon entry or exit | If you exit after 1 year |
| Entry costs | 2.00 % of the amount you pay in when entering this investment. This is the most you will be charged. The person selling you the product will inform you of the actual charge. | 200 CHF |
| Exit costs | We do not charge an exit fee for this product. | 0 CHF |
| Ongoing costs | |
| Management fees and other administrative or operating costs | 0.11 % of the value of your investment per year. | 16 CHF |
| Portfolio transaction costs | 0.11 % 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. | 11 CHF |
| Incidental costs taken under specific conditions | |
| Performance fees | We do not charge a performance fee for this product. | 0 CHF | | | Composición de los costes |
| --- |
| Costes únicos de entrada o salida | Si vende su inversión después de 1 año |
| Costes de entrada | 2,00 % 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. | 200 CHF |
| Costes de salida | No cobramos una comisión de salida por este producto. | 0 CHF |
| Costes corrientes | |
| Comisiones de gestión y otros costes administrativos o de funcionamiento | 0,11 % del valor de su inversión al año. | 16 CHF |
| Costes de operación de la cartera | 0,11 % 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. | 11 CHF |
| Costes accesorios detraídos en condiciones específicas | |
| Comisiones de rendimiento | No cobramos una comisión de rendimiento por este producto. | 0 CHF | | | Composition of costs |
| --- |
| One-off costs upon entry or exit | If you exit after 1 year |
| Entry costs | 2.00 % of the amount you pay in when entering this investment. This is the most you will be charged. The person selling you the product will inform you of the actual charge. | 200 CHF |
| Exit costs | We do not charge an exit fee for this product. | 0 CHF |
| Ongoing costs | |
| Management fees and other administrative or operating costs | 0.11 % of the value of your investment per year. | 16 CHF |
| Portfolio transaction costs | 0.11 % 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. | 11 CHF |
| Incidental costs taken under specific conditions | |
| Performance fees | We do not charge a performance fee for this product. | 0 CHF | | en | es |
DOLFIN4014 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
## Investment Policy:
The Index is a subset of the Nasdaq Global Index (Parent Index) and measures the performance of the 80 largest global semiconductor companies. The Index is a modified market capitalisation-weighted index and applies issuer exposure capping.
Only one security issued by a company can be included in the Index. In order for a company to be included in the Index, the following eligibility criteria apply: a company must be a member of the Parent Index, with its assigned country classified under the Region of Asia Pacific, Europe, or United States; a company must be classified under the Semiconductors Subsector or Production Technology Equipment Subsector according to the Industry Classification Benchmark (as defined by FTSE International Limited); and have a minimum market capitalisation of $150 million. The index provider selects constituents semi-annually using these criteria. An 8% weighting cap is maintained for the index components with the five largest market capitalisations, with the weight of all other securities being capped at 4%. The above issuer caps are implemented quarterly, in line with the Index rebalance.
The Fund is passively managed and aims to invest in the shares of the companies in generally the same proportion as in the Index. There may be circumstances when it is not possible or practical for the Fund to invest in all constituents of the Index. If the Fund cannot invest directly in the companies that constitute the Index, it may gain exposure by using other investments such as depositary receipts, funds or derivatives. | ## Política de inversión:
El Índice es un subconjunto del Nasdaq Global Index (el «Índice matriz») y mide la rentabilidad de las 80 sociedades más importantes a nivel mundial en el sector de los semiconductores. El Índice es un índice ponderado por capitalización bursátil modificado, y aplica límites en función de la exposición a los emisores.
Solo se puede incluir un valor por sociedad en el Índice. Para incluir a una sociedad en el Índice, es necesario que cumpla los siguientes requisitos: una sociedad debe formar parte del Índice matriz, y el país al que corresponda debe clasificarse en las regiones de Asia-Pacífico, Europa o Estados Unidos; debe estar clasificada en el subsector de los semiconductores o en el subsector de equipos de tecnología de producción, con arreglo al índice ICB de clasificación industrial (como define FTSE International Limited); por último, debe tener una capitalización bursátil de 150 millones de USD como mínimo. El proveedor del Índice se basa en estos criterios para seleccionar los componentes semestralmente. La ponderación de los componentes del Índice con las cinco mayores capitalizaciones bursátiles se limita al 8 %, mientras que se aplica un límite del 4 % a la ponderación de todos los demás valores. Los límites susodichos para los emisores se aplican trimestralmente, de conformidad con el reajuste del Índice.
El Fondo se gestiona de forma pasiva y tiene como objetivo invertir en las acciones de las sociedades, en general, en la misma proporción que en el Índice. Puede haber circunstancias en las que el Fondo no pueda, o no le resulte conveniente, invertir en todos los componentes del Índice. Si el Fondo no puede invertir directamente en las sociedades que componen el Índice, podrá obtener exposición utilizando otras inversiones, como recibos de depósito, fondos o derivados. | ## Investment Policy:
The Index is a subset of the Nasdaq Global Index (Parent Index) and measures the performance of the 80 largest global semiconductor companies. The Index is a modified market capitalisation-weighted index and applies issuer exposure capping.
Only one security issued by a company can be included in the Index. In order for a company to be included in the Index, the following eligibility criteria apply: a company must be a member of the Parent Index, with its assigned country classified under the Region of Asia Pacific, Europe, or United States; a company must be classified under the Semiconductors Subsector or Production Technology Equipment Subsector according to the Industry Classification Benchmark (as defined by FTSE International Limited); and have a minimum market capitalisation of $150 million. The index provider selects constituents semi-annually using these criteria. An 8% weighting cap is maintained for the index components with the five largest market capitalisations, with the weight of all other securities being capped at 4%. The above issuer caps are implemented quarterly, in line with the Index rebalance.
The Fund is passively managed and aims to invest in the shares of the companies in generally the same proportion as in the Index. There may be circumstances when it is not possible or practical for the Fund to invest in all constituents of the Index. If the Fund cannot invest directly in the companies that constitute the Index, it may gain exposure by using other investments such as depositary receipts, funds or derivatives. | en | es |
DOLFIN4015 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
| Fund Deviation from index |
| --- |
| United States | 49.41 | -10.2 | | |
| |
| United Kingdom | 6.21 | | | | +2.5 |
| |
| Switzerland | 5.85 | | | | +3.4 |
| |
| France | 5.76 | | | | +2.9 |
| |
| Canada | 5.41 | | | | +2.6 |
| |
| Japan | 4.33 | | -1.9 | |
| Germany | 4.06 | | | +1.7 |
| Netherlands | 2.96 | | | +1.7 |
| Sweden | 2.91 | | | +2.0 |
| China | 2.74 | | -1.3 | |
| Others | 10.36 | | -3.5 | | |
| | | | Fonds Abweichung vom Index |
| --- |
| Vereinigte Staaten | 49.41 | -10.2 | | |
| |
| Grossbritannien | 6.21 | | | | +2.5 |
| |
| Schweiz | 5.85 | | | | +3.4 |
| |
| Frankreich | 5.76 | | | | +2.9 |
| |
| Kanada | 5.41 | | | | +2.6 |
| |
| Japan | 4.33 | | -1.9 | |
| Deutschland | 4.06 | | | +1.7 |
| Niederlande | 2.96 | | | +1.7 |
| Schweden | 2.91 | | | +2.0 |
| China | 2.74 | | -1.3 | |
| Übrige | 10.36 | | -3.5 | | |
| | | | Fund Deviation from index |
| --- |
| United States | 49.41 | -10.2 | | |
| |
| United Kingdom | 6.21 | | | | +2.5 |
| |
| Switzerland | 5.85 | | | | +3.4 |
| |
| France | 5.76 | | | | +2.9 |
| |
| Canada | 5.41 | | | | +2.6 |
| |
| Japan | 4.33 | | -1.9 | |
| Germany | 4.06 | | | +1.7 |
| Netherlands | 2.96 | | | +1.7 |
| Sweden | 2.91 | | | +2.0 |
| China | 2.74 | | -1.3 | |
| Others | 10.36 | | -3.5 | | |
| | | en | de |
DOLFIN4016 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# The instruments and deposits in which the Fund's assets may be invested and the investment rules are described in the prospectus.
## Article 5 ter – Admission to trading on a regulated market and/or multilateral trading facility
Units may be listed on a regulated market and/or multilateral trading facility in accordance with the regulations in force. In instances where the Fund has units listed on a regulated market and which have an index-based management objective, the Fund must have implemented measures to ensure that the price of its units does not deviate significantly from its net asset value.
## Article 6 - Depositary
The depositary carries out the duties for which it is responsible under the laws and regulations in force, and those contractually entrusted to it by the management company. Above all, it must ensure that the decisions taken by the portfolio management company are legitimate. Where applicable, it must take any protective measures it deems necessary. In the event of a dispute with the management company, it shall inform the Autorité des marchés financiers.
## Article 7 - Auditor | # Les instruments et dépôts éligibles à l’actif du FCP ainsi que les règles d’investissement sont décrits dans le prospectus.
## Article 5 ter - Admission à la négociation sur un marché réglementé et/ou un système multilatéral de négociation
Les parts peuvent faire l’objet d’une admission à la négociation sur un marché réglementé et/ou un système multilatéral de négociation selon la réglementation en vigueur. Dans le cas où le FCP dont les parts sont admises aux négociations sur un marché réglementé a un objectif de gestion fondé sur un indice, le fonds devra avoir mis en place un dispositif permettant de s’assurer que le cours de ses parts ne s’écarte pas sensiblement de sa valeur liquidative.
## Article 6 - Le dépositaire
Le dépositaire assure les missions qui lui incombent en application des lois et règlements en vigueur ainsi que celles qui lui ont été contractuellement confiées par la société de gestion. Il doit notamment s’assurer de la régularité des décisions de la société de gestion de portefeuille. Il doit, le cas échéant, prendre toutes mesures conservatoires qu’il juge utiles. En cas de litige avec la société de gestion, il en informe l'Autorité des marchés financiers.
## Article 7 - Le commissaire aux comptes | # The instruments and deposits in which the Fund's assets may be invested and the investment rules are described in the prospectus.
## Article 5 ter – Admission to trading on a regulated market and/or multilateral trading facility
Units may be listed on a regulated market and/or multilateral trading facility in accordance with the regulations in force. In instances where the Fund has units listed on a regulated market and which have an index-based management objective, the Fund must have implemented measures to ensure that the price of its units does not deviate significantly from its net asset value.
## Article 6 - Depositary
The depositary carries out the duties for which it is responsible under the laws and regulations in force, and those contractually entrusted to it by the management company. Above all, it must ensure that the decisions taken by the portfolio management company are legitimate. Where applicable, it must take any protective measures it deems necessary. In the event of a dispute with the management company, it shall inform the Autorité des marchés financiers.
## Article 7 - Auditor | en | fr |
DOLFIN4017 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
### By Market Capitalization
Mega Cap > 30 bn 21.7%
Large Cap 5 bn - 30 bn 52.2%
Mid Cap 1 bn - 5 bn 25.2%
Cash & Others 1.0% | ### Per capitalizzazione di mercato
Mega Cap > 30 bn 21.7%
Large Cap 5 bn - 30 bn 52.2%
Mid Cap 1 bn - 5 bn 25.2%
Liquidità e Altri Attivi 1.0% | ### By Market Capitalization
Mega Cap > 30 bn 21.7%
Large Cap 5 bn - 30 bn 52.2%
Mid Cap 1 bn - 5 bn 25.2%
Cash & Others 1.0% | en | it |
DOLFIN4018 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
Meaning of ‘Residence’ for Companies
A company which has its central management and control in Ireland is tax resident in Ireland irrespective of where it is incorporated. A company which does not have its central management and control in Ireland but which was incorporated in Ireland on or after 1 January 2015 is tax resident in Ireland except where the company is regarded as not resident in Ireland under a double taxation treaty between Ireland and another country.
A company which does not have its central management and control in Ireland but which was incorporated before 1 January 2015 in Ireland is resident in Ireland except where:
- the company (or a related company) carries on a trade in Ireland and either the company is ultimately controlled by persons resident in EU member states or in countries with which Ireland has a double tax treaty, or the company (or a related company) are quoted companies on a recognised stock exchange in the EU or in a tax treaty country; or
- the company is regarded as not resident in Ireland under a double tax treaty between Ireland and another country. | Bedeutung von „Ansässigkeit“ für Unternehmen
Eine Gesellschaft, deren zentrale Verwaltung und Kontrolle sich in Irland befindet, ist, unabhängig von dem Ort, an dem sie gegründet wurde, in Irland steueransässig. Eine Gesellschaft, deren zentrale Verwaltung und Kontrolle sich nicht in Irland befindet, die jedoch am oder nach dem 1. Januar 2015 in Irland errichtet wurde, ist in Irland steueransässig, es sei denn, die Gesellschaft gilt nach einem zwischen Irland und einem anderen Land geschlossenen Doppelbesteuerungsabkommen nicht als in Irland ansässig.
Eine Gesellschaft, deren zentrale Verwaltung und Steuerung sich nicht in Irland befindet, die jedoch vor dem 1. Januar 2015 in Irland gegründet wurde, wird als irische Gebietsansässige eingestuft, außer:
- wenn die Gesellschaft (oder eine verbundene Gesellschaft) ein Gewerbe in Irland betreibt und entweder die Gesellschaft letztendlich von Personen beherrscht wird, die in EU-Mitgliedstaaten oder in Ländern, mit denen Irland ein Doppelbesteuerungsabkommen geschlossen hat, ansässig sind, oder die Gesellschaft (oder eine verbundene Gesellschaft) eine an einer anerkannten Wertpapierbörse in der EU oder einem Steuerabkommensland notierte Gesellschaft ist; oder
- wenn die Gesellschaft gemäß einem Doppelbesteuerungsabkommen zwischen Irland und einem anderen Land als nicht in Irland ansässig anzusehen ist. | Meaning of ‘Residence’ for Companies
A company which has its central management and control in Ireland is tax resident in Ireland irrespective of where it is incorporated. A company which does not have its central management and control in Ireland but which was incorporated in Ireland on or after 1 January 2015 is tax resident in Ireland except where the company is regarded as not resident in Ireland under a double taxation treaty between Ireland and another country.
A company which does not have its central management and control in Ireland but which was incorporated before 1 January 2015 in Ireland is resident in Ireland except where:
- the company (or a related company) carries on a trade in Ireland and either the company is ultimately controlled by persons resident in EU member states or in countries with which Ireland has a double tax treaty, or the company (or a related company) are quoted companies on a recognised stock exchange in the EU or in a tax treaty country; or
- the company is regarded as not resident in Ireland under a double tax treaty between Ireland and another country. | en | de |
DOLFIN4019 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Fund management commentary
## Market Review
The continuing downward pressure on U.S. yields, initially driven by large post-FOMC position unwinds and continuing demand by U.S. banks, found some fundamental reinforcement. A string of global activity data, mostly from the U.S. and China, continued to underwhelm expectations, and the surge of the delta variant across Europe and several key EMs offset the perception of better activity data for the latter. Commodity prices were uneven with metal prices incrementally higher while agricultural commodities stalled, and oil weakened.
## Fund Review
Contributors were quite scattered and diversified. Russian local bond positions showed gains on the back of an appreciating currency responding to a surge in oil prices. Main detractors were positions in the short-dated USD bonds of two Chinese property developers. Long Romanian EUR positions were another detractor which mostly suffered through the Bund futures hedge which we implemented on the position. We experienced losses while fully unwinding our Tunisian positions, which we decided early in the month, after a lack of progress on an IMF program amidst a surging COVID-19 crisis and ahead of a surprise government purge.
## Market Outlook
In line with a somewhat erratic risk appetite environment, we try to run a relatively tight ship in terms of portfolio profile. We selectively added back to EM FX exposure in the past two weeks, from a low point at the end of July. We are not changing our preference for higher yielding mid-duration local bonds and select frontier currency bonds. We maintain payers in Poland alongside short Treasury and Bund hedges. In hard currency credit, we maintain exposure to our long held convictions in Africa, Ukraine, Oman, Egypt, Romania, and to a lower degree Argentina. We complement this with exposure to select corporate themes, around telecom names in Africa and the Caribbean, oil projects in Israel and Ghana, some Brazilian cyclicals in the steel and commodity sectors, and decreasing exposure to both Pemex and Chinese properties. We retain proxy hedges to the above positions, through long protection positions in the US HY CDX and EUR Crossover ITRAXX indices. We expect more clarity on the risk outlook towards end August. | # Commentaire de gestion
## Commentaires sur le marché
La pression continue à la baisse sur les rendements américains, initialement due à d’importants dénouements de positions après le FOMC et à la demande continue des banques américaines, a trouvé un certain renforcement fondamental. Une série de données sur l’activité mondiale, principalement en provenance des États-Unis et de la Chine, a continué à décevoir les attentes, et la progression du variant Delta en Europe et dans plusieurs pays émergents clés a contrebalancé la perception de meilleures données sur l’activité dans ces derniers. Les prix des matières premières ont été inégaux, les prix des métaux augmentant progressivement tandis que les matières premières agricoles stagnaient et que le pétrole faiblissait.
## Commentaires sur le portefeuille
Les contributeurs étaient assez disparates et diversifiés. Les positions sur les obligations locales russes ont progressé grâce à l’appréciation de la monnaie en réponse à la flambée des prix du pétrole. Les principaux détracteurs ont été les positions sur les obligations à court terme en dollars américains de deux promoteurs immobiliers chinois. Les positions roumaines longues en EUR ont été un autre détracteur qui a surtout souffert de la couverture des contrats à terme du Bund allemand que nous avons mise en place sur la position. Nous avons subi des pertes lors du désengagement complet de nos positions tunisiennes, que nous avions décidé au début du mois, après l’absence de progrès sur un programme du FMI, au milieu de la crise du COVID-19 en pleine expansion et avant la vague de démantèlement surprise du gouvernement.
## Persectives du marché
Dans le cadre d’un appétit pour le risque quelque peu instable, nous essayons de gérer un ensemble relativement étroit en termes de profil de portefeuille. Au cours des deux dernières semaines, nous avons rétabli de manière sélective notre exposition sur le marché des changes des pays émergents, à partir d’un point bas à la fin du mois de juillet. Nous ne modifions pas notre préférence pour les obligations locales de moyenne durée à rendement plus élevé et pour certaines obligations en devises des marchés frontaliers. Nous maintenons des payeurs en Pologne ainsi que des couvertures courtes du Trésor américain et du Bund allemand. Dans le domaine du crédit en devises fortes, nous maintenons notre exposition à nos convictions de longue date en Afrique, en Ukraine, à Oman, en Égypte, en Roumanie et, dans une moindre mesure, en Argentine. Nous complétons cela par une exposition à des thèmes d’entreprise sélectionnés, autour d’entreprises de télécommunications en Afrique et aux Caraïbes, de projets pétroliers en Israël et au Ghana, de certains produits cycliques brésiliens dans les secteurs de l’acier et des matières premières, et d’une exposition décroissante aux propriétés Pemex et chinoises. Nous conservons des couvertures de substitution pour les positions ci-dessus, par le biais de positions de protection longues dans les indices US HY CDX et EUR Crossover ITRAXX. La clarté sur les perspectives de risque devrait augmenter vers la fin août. | # Fund management commentary
## Market Review
The continuing downward pressure on U.S. yields, initially driven by large post-FOMC position unwinds and continuing demand by U.S. banks, found some fundamental reinforcement. A string of global activity data, mostly from the U.S. and China, continued to underwhelm expectations, and the surge of the delta variant across Europe and several key EMs offset the perception of better activity data for the latter. Commodity prices were uneven with metal prices incrementally higher while agricultural commodities stalled, and oil weakened.
## Fund Review
Contributors were quite scattered and diversified. Russian local bond positions showed gains on the back of an appreciating currency responding to a surge in oil prices. Main detractors were positions in the short-dated USD bonds of two Chinese property developers. Long Romanian EUR positions were another detractor which mostly suffered through the Bund futures hedge which we implemented on the position. We experienced losses while fully unwinding our Tunisian positions, which we decided early in the month, after a lack of progress on an IMF program amidst a surging COVID-19 crisis and ahead of a surprise government purge.
## Market Outlook
In line with a somewhat erratic risk appetite environment, we try to run a relatively tight ship in terms of portfolio profile. We selectively added back to EM FX exposure in the past two weeks, from a low point at the end of July. We are not changing our preference for higher yielding mid-duration local bonds and select frontier currency bonds. We maintain payers in Poland alongside short Treasury and Bund hedges. In hard currency credit, we maintain exposure to our long held convictions in Africa, Ukraine, Oman, Egypt, Romania, and to a lower degree Argentina. We complement this with exposure to select corporate themes, around telecom names in Africa and the Caribbean, oil projects in Israel and Ghana, some Brazilian cyclicals in the steel and commodity sectors, and decreasing exposure to both Pemex and Chinese properties. We retain proxy hedges to the above positions, through long protection positions in the US HY CDX and EUR Crossover ITRAXX indices. We expect more clarity on the risk outlook towards end August. | en | fr |
DOLFIN4020 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Update of Annex A relating to the sub-fund LGT Sustainable Quality Equity Fund Hedged in respect of disclosing a Benchmark
The following Definition will be added in Section A. “Overview of Definitions and Key Terms”
| | means MSCI World Hedged (NR) Index. |
| --- | --- |
The following description will be added in Section C. “Investment Policy”:
“The Sub-Fund is considered to be actively managed in reference to the Benchmark by virtue of the fact that it seeks to outperform the Benchmark. However, the Benchmark is not used to define the portfolio composition of the Sub- Fund and the Sub-Fund may be invested in securities which are not constituents of the Benchmark.
The Benchmark is a broad global equity index that represents large and mid-cap equity performance across a number of developed market countries. Further information regarding the Benchmark, including the methodology used for the calculation of the Benchmark, can be found on www.msci.com/index-methodology.
The Investment Manager actively seeks to achieve outperformance of the Benchmark by making active investment decisions in relation to the portfolio's allocation to equity securities.
The Benchmark used by the Sub-Fund is a mainstream index and does not take account of ESG factors and is therefore not consistent with the environmental and social characteristics promoted by the Sub-Fund. Shareholders should therefore be aware that certain constituents of the Benchmark may not be eligible for investment by the Sub-Fund based on the Investment Manager's ESG screening process and therefore there is a risk that the perfor- mance of the Sub-Fund may be considerably different, and could be significantly lower than the performance of the Benchmark.”
- | # Aktualisierung des Anhangs A des Teilfonds LGT Sustainable Quality Equity Fund Hedged in Bezug auf die Angaben zur Benchmark
In Abschnitt A. „Überblick über die Begriffsbestimmungen und die wichtigsten Bedingungen“ wird die folgende Definition eingefügt:
| | bezeichnet den MSCI World Hedged (NR) Index. |
| --- | --- |
Die folgende Beschreibung wird im Abschnitt C. „Anlagepolitik“ hinzugefügt:
„Der Teilfonds gilt als aktiv verwaltet in Bezug auf die Benchmark, da er eine bessere Wertentwicklung als die Benchmark anstrebt. Allerdings wird die Benchmark nicht zur Definition der Portfoliozusammensetzung des Teil- fonds verwendet und der Teilfonds kann in Wertpapieren investiert sein, die nicht Bestandteil der Benchmark sind.
Bei der Benchmark handelt es sich um einen breit angelegten, globalen Aktienindex, der die Large- und Mid-Cap- Aktienperformance einer Reihe von Industrieländern repräsentiert. Weitere Informationen zur Benchmark, ein- schließlich der für die Berechnung der Benchmark verwendeten Methodik, finden Sie unter www.msci.com/index- methodology.
Der Investment Manager ist bestrebt, eine bessere Performance als die Benchmark zu erzielen, indem er aktive Anlageentscheidungen in Bezug auf die Allokation des Portfolios in Aktienwerten trifft.
Die vom Teilfonds verwendete Benchmark ist ein Mainstream-Index und berücksichtigt keine ESG-Faktoren und steht daher nicht im Einklang mit den vom Teilfonds unterstützten ökologischen und sozialen Merkmalen. Anteilin- haber sollten sich daher darüber im Klaren sein, dass bestimmte Bestandteile der Benchmark auf der Grundlage des ESG-Screening-Prozesses des Investment Managers möglicherweise nicht für eine Anlage durch den Teilfonds zuge- lassen sind und daher das Risiko besteht, dass die Wertentwicklung des Teilfonds erheblich davon abweicht und deutlich unter der Wertentwicklung der Benchmark liegen könnte.“
- | # Update of Annex A relating to the sub-fund LGT Sustainable Quality Equity Fund Hedged in respect of disclosing a Benchmark
The following Definition will be added in Section A. “Overview of Definitions and Key Terms”
| | means MSCI World Hedged (NR) Index. |
| --- | --- |
The following description will be added in Section C. “Investment Policy”:
“The Sub-Fund is considered to be actively managed in reference to the Benchmark by virtue of the fact that it seeks to outperform the Benchmark. However, the Benchmark is not used to define the portfolio composition of the Sub- Fund and the Sub-Fund may be invested in securities which are not constituents of the Benchmark.
The Benchmark is a broad global equity index that represents large and mid-cap equity performance across a number of developed market countries. Further information regarding the Benchmark, including the methodology used for the calculation of the Benchmark, can be found on www.msci.com/index-methodology.
The Investment Manager actively seeks to achieve outperformance of the Benchmark by making active investment decisions in relation to the portfolio's allocation to equity securities.
The Benchmark used by the Sub-Fund is a mainstream index and does not take account of ESG factors and is therefore not consistent with the environmental and social characteristics promoted by the Sub-Fund. Shareholders should therefore be aware that certain constituents of the Benchmark may not be eligible for investment by the Sub-Fund based on the Investment Manager's ESG screening process and therefore there is a risk that the perfor- mance of the Sub-Fund may be considerably different, and could be significantly lower than the performance of the Benchmark.”
- | en | de |
DOLFIN4021 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
Tax treatment of the shareholders of the Investment Company
- Shareholders who are not or have not been tax residents in the Grand Duchy of Luxembourg and who do not maintain a permanent establishment or do not have a permanent representa- tive there are not subject to Luxembourg income tax with respect to their income or capital gains from their Shares in the Fund.
- Natural persons who are tax residents in the Grand Duchy of Luxembourg are subject to progressive Luxembourg income tax.
- Companies that are tax residents in the Grand Duchy of Luxembourg are subject to corporate income tax on the income from the fund Shares.
- Interested parties and shareholders are advised to inform themselves about laws and regu- lations applicable to the taxation of the Company’s assets, the subscription, purchase, hold- ing, redemption or transfer of Shares and to seek advice from external third parties, in partic- ular from a tax advisor. | Regime fiscale degli azionisti della Società d’investimento
- Gli azionisti che non sono o non sono stati fiscalmente domiciliati nel Granducato di Lussemburgo e che in questo Stato non conservano una sede di lavoro o non hanno un rappresentante permanente non sono soggetti all'imposta lussemburghese sul reddito in relazione al loro reddito o alle plusvalenze derivanti dalle azioni del Fondo.
- Le persone fisiche fiscalmente residenti nel Granducato di Lussemburgo sono soggette all'imposta sul reddito progressiva lussemburghese.
- Le società che non sono fiscalmente domiciliate nel Granducato di Lussemburgo sono soggette all'imposta sulle società per il reddito derivante dalle quote del Fondo.
- Alle parti interessate e gli azionisti si consiglia di informarsi in merito alle leggi e ai regolamenti relativi alla tassazione del patrimonio sociale, sottoscrizione, acquisto, detenzione, restituzione o cessione di azioni e di richiedere una consulenza presso terzi, in particolare presso un consulente fiscale. | Tax treatment of the shareholders of the Investment Company
- Shareholders who are not or have not been tax residents in the Grand Duchy of Luxembourg and who do not maintain a permanent establishment or do not have a permanent representa- tive there are not subject to Luxembourg income tax with respect to their income or capital gains from their Shares in the Fund.
- Natural persons who are tax residents in the Grand Duchy of Luxembourg are subject to progressive Luxembourg income tax.
- Companies that are tax residents in the Grand Duchy of Luxembourg are subject to corporate income tax on the income from the fund Shares.
- Interested parties and shareholders are advised to inform themselves about laws and regu- lations applicable to the taxation of the Company’s assets, the subscription, purchase, hold- ing, redemption or transfer of Shares and to seek advice from external third parties, in partic- ular from a tax advisor. | en | it |
DOLFIN4022 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Fund manager's report
Global stocks suffered a steep sell-off at the end of the month as recession fears weighed on markets due to the ongoing interest rate rises from the US Federal Reserve (Fed) and its continued hawkish commentary. The UK government sent stock and currency markets into a tailspin when the government, under new prime minister Liz Truss, sought to implement deep tax cuts, the like of which had not been seen for half a century, fuelling inflation fears. The Bank of England, in a bid to lower the cost of living, increased interest rates again, alongside other major developed countries, including the US, while Europe’s central bank confirmed it will push rates higher as the energy crisis continues its stranglehold on economies, businesses, and consumers. With little resolution in sight for the war in Ukraine, markets have become increasingly worried about prospects for the global economy, with many countries warning they are heading into recession.
All sectors were in the red for September, with the worst returns coming from the real estate segment as interest rates rose sharply. In an environment where value again outperformed growth, technology stocks were also laggards. Better returns, albeit still negative, came from traditional defensive sectors such as healthcare and consumer staples. From a factor perspective, momentum aligned with the continued demand for stocks with higher levels of quality and dividend yield, with low volatility stocks also outperforming. Size as a factor underperformed in September.
Portfolio Comments
The portfolio outperformed its benchmark index in September (before fees and expenses) as the strategy’s defensive profile proved beneficial in the context of increasing market uncertainty. The portfolio’s focus on companies with lower volatility was rewarded while holding companies with high quality earnings also helped as investors recognised the rising risk to corporate earnings and therefore looked for those most likely to deliver earnings growth on a consistent basis.
With earnings keenly in focus, the overweight to high quality company Archer Daniels Midland proved beneficial as the food processing group beat expectations for the second quarter. Positions in other high quality consumer staples stocks including General Mills also featured among the top contributors to performance over the month.
Additionally, the portfolio’s positioning among IT stocks was well rewarded. Not holding Nvidia proved to be the top contributor at individual stock level, shares in the chipmaker fell after the US government banned it from exporting certain products to China and Russia.
The top stock detractor was the nil weight in Johnson & Johnson as more broadly the portfolio’s underweight to the healthcare sector weighed on returns this month.
Source(s): AXA Investment Managers - MSCI as at 30/09/2022 Editor: AXA Investment Managers Paris | # Informe del gestor
La renta variable mundial sufrió una fuerte oleada de ventas a finales de mes, ya que los temores a una recesión lastraron los mercados debido a las subidas de los tipos de interés por parte de la Reserva Federal estadounidense (Fed) y su continuo discurso de endurecimiento monetario. El gobierno británico hizo caer en picado a los mercados de valores y divisas cuando, bajo la nueva primera ministra Liz Truss, intentó implementar unos profundos recortes fiscales, que no se habían visto desde hacía 50 años, lo que alimentó los temores inflacionistas. El Banco de Inglaterra, en un intento por reducir el coste de la vida, volvió a subir los tipos de interés, junto con otros grandes países desarrollados, entre ellos EE. UU., mientras que el BCE confirmó que subirá los tipos, ya que la crisis energética sigue dominando a las economías, las empresas y los consumidores. Con pocos signos de resolución a corto plazo de la guerra en Ucrania, los mercados se han mostrado cada vez más preocupados por las perspectivas de la economía mundial, y muchos países advierten de que están entrando en recesión.
Todos los sectores cerraron en rojo en septiembre y las peores rentabilidades provinieron del segmento inmobiliario, ya que los tipos de interés subieron con fuerza. En un entorno en el que las acciones de valor volvieron a superar a las de crecimiento, los valores tecnológicos también quedaron rezagados. Las mejores rentabilidades, aunque siguen siendo negativas, provinieron de los sectores tradicionalmente defensivos, como atención sanitaria y consumo básico. Por factores, el dinamismo se alineó con la demanda continuada de valores con mayores niveles de calidad y rendimiento por dividendo, y las acciones de baja volatilidad también destacaron. El factor tamaño se rezagó en septiembre.
Comentarios de la cartera
La cartera superó a su índice de referencia en septiembre (antes de comisiones y gastos), ya que el perfil defensivo de la estrategia resultó favorable en un contexto de creciente incertidumbre en el mercado. El énfasis de la cartera en empresas con menor volatilidad se vio recompensado, mientras que la tenencia de empresas con beneficios de alta calidad también ayudó, ya que los inversores reconocieron el riesgo creciente para los beneficios empresariales y, por tanto, buscaron a las más propensas a generar un crecimiento de los beneficios de forma coherente.
Con unos beneficios muy enfocados, la sobreponderación en la empresa de alta calidad Archer Daniels Midland resultó beneficiosa, ya que el grupo de procesamiento de alimentos superó las expectativas para el segundo trimestre. Las posiciones en otros valores de consumo básico de alta calidad, como General Mills, también se situaron entre las mayores contribuciones a la rentabilidad durante el mes.
Además, el posicionamiento de la cartera en valores informáticos obtuvo buenas recompensas. La ausencia en cartera de Nvidia resultó ser la mayor contribución individual, ya que las acciones del fabricante de chips cayeron después de que el gobierno estadounidense le prohibiera exportar determinados productos a China y Rusia.
El mayor lastre fue la ausencia en cartera de Johnson & Johnson, ya que, de forma más general, la infraponderación de la cartera en el sector sanitario lastró las rentabilidades este mes.
Fuente(s) : AXA Investment Managers - MSCI a 30/09/2022 Redactor: AXA Investment Managers Paris. | # Fund manager's report
Global stocks suffered a steep sell-off at the end of the month as recession fears weighed on markets due to the ongoing interest rate rises from the US Federal Reserve (Fed) and its continued hawkish commentary. The UK government sent stock and currency markets into a tailspin when the government, under new prime minister Liz Truss, sought to implement deep tax cuts, the like of which had not been seen for half a century, fuelling inflation fears. The Bank of England, in a bid to lower the cost of living, increased interest rates again, alongside other major developed countries, including the US, while Europe’s central bank confirmed it will push rates higher as the energy crisis continues its stranglehold on economies, businesses, and consumers. With little resolution in sight for the war in Ukraine, markets have become increasingly worried about prospects for the global economy, with many countries warning they are heading into recession.
All sectors were in the red for September, with the worst returns coming from the real estate segment as interest rates rose sharply. In an environment where value again outperformed growth, technology stocks were also laggards. Better returns, albeit still negative, came from traditional defensive sectors such as healthcare and consumer staples. From a factor perspective, momentum aligned with the continued demand for stocks with higher levels of quality and dividend yield, with low volatility stocks also outperforming. Size as a factor underperformed in September.
Portfolio Comments
The portfolio outperformed its benchmark index in September (before fees and expenses) as the strategy’s defensive profile proved beneficial in the context of increasing market uncertainty. The portfolio’s focus on companies with lower volatility was rewarded while holding companies with high quality earnings also helped as investors recognised the rising risk to corporate earnings and therefore looked for those most likely to deliver earnings growth on a consistent basis.
With earnings keenly in focus, the overweight to high quality company Archer Daniels Midland proved beneficial as the food processing group beat expectations for the second quarter. Positions in other high quality consumer staples stocks including General Mills also featured among the top contributors to performance over the month.
Additionally, the portfolio’s positioning among IT stocks was well rewarded. Not holding Nvidia proved to be the top contributor at individual stock level, shares in the chipmaker fell after the US government banned it from exporting certain products to China and Russia.
The top stock detractor was the nil weight in Johnson & Johnson as more broadly the portfolio’s underweight to the healthcare sector weighed on returns this month.
Source(s): AXA Investment Managers - MSCI as at 30/09/2022 Editor: AXA Investment Managers Paris | en | es |
DOLFIN4023 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
- Financials - outperformed the Index sector (+21% vs +11%) and significantly overweight (average weighting 40% vs 15%)
- Danske Bank3 (+49%) and Ping An Insurance (+35%) - two largest individual contributors
- DBS Group Holdings (+22%), Julius Baer Group (+24%), and Wells Fargo (+8%) | - Finanzwerte - übertrafen den Indexsektor (+21% gegenüber +11%) und waren deutlich übergewichtet (durchschnittliche Gewichtung 40% gegenüber 15%)
- Danske Bank3 (+49%) und Ping An Insurance (+35%) - die beiden stärksten Einzelbeiträger
- DBS Group Holdings (+22%), Julius Baer Group (+24%), und Wells Fargo (+8%) | - Financials - outperformed the Index sector (+21% vs +11%) and significantly overweight (average weighting 40% vs 15%)
- Danske Bank3 (+49%) and Ping An Insurance (+35%) - two largest individual contributors
- DBS Group Holdings (+22%), Julius Baer Group (+24%), and Wells Fargo (+8%) | en | de |
DOLFIN4024 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Transactions on regulated markets
- Futures transactions: these transactions are valued according to the markets on the basis of the settlement price. The commitment is calculated as follows: price of futures contract x nominal value of contract x quantities.
- Options transactions: these contracts are valued according to the markets on the basis of the opening price or the settlement price. The commitment is equal to the conversion of the option into the underlying equivalent. It is calculated as follows: delta x quantity x ratio or nominal value of the contract x price of the underlying equivalent.
### Transactions on over-the-counter markets
- Interest rate transactions: valuation at the market price on the basis of information feeds sourced from a financial information vendor (Bloomberg, Reuters, etc.) and, if necessary, by applying an actuarial method.
- Interest rate swap transactions:For those with a residual maturity greater than three months: valuation at the market price on the basis of information feeds sourced from a financial information vendor (Bloomberg, Reuters, etc.) and by applying an actuarial method.
- Backed or non-backed transactions:
- Fixed rate/Variable rate: nominal value of the contract.
- Variable rate/Fixed rate: nominal value of the contract.
- For those with a residual maturity of three months or less: valued on a straight-line basis.
- In the case of an interest rate swap transaction valued at the market price whose residual maturity is less than or equal to three months, the last rate used shall be frozen until the final repayment date, except in the case of modified duration requiring valuation at the market price (see the previous paragraph).
- The commitment is calculated as follows:
- Backed transactions: nominal value of the contract.
- Non-backed transactions: nominal value of the contract.
- Other transactions on over-the-counter markets
- Interest rate, foreign exchange or credit transactions: valuation at the market price on the basis of information feeds sourced from a financial information vendor (Bloomberg, Reuters, etc.) and, if necessary, by applying an actuarial method. | # Operaciones en mercados organizados
- Operaciones a plazo firme: estas operaciones se valoran, dependiendo del mercado, sobre la base de la cotización de compensación. El pasivo se calcula del siguiente modo: cotización del contrato futuro x nominal del contrato x cantidades.
- Operaciones a plazo condicional: estas operaciones se valoran, dependiendo del mercado, sobre la base de la primera cotización o de la cotización de compensación. El pasivo es igual a la conversión de la opción a equivalente subyacente. Se calcula del siguiente modo: delta x cantidad x porcentaje o nominal del contrato x cotización del subyacente.
### Operaciones en los mercados OTC
- Operaciones de tipos de interés: valoración según el precio de mercado sobre la base de los datos obtenidos de un servidor de información financiera (Bloomberg, Reuters, etc.) y, si fuese necesario, utilizando un método actuarial.
- Operaciones de permuta financiera:Para aquellas con un vencimiento residual superior a 3 meses: valoración según el precio de mercado sobre la base de los datos obtenidos de un servidor de información financiera (Bloomberg, Reuters, etc.) y mediante la aplicación de un método actuarial.
- Operaciones respaldadas o no respaldadas:
- Tipo fijo/Tipo variable: valor nominal del contrato
- Tipo variable/Tipo fijo: valor nominal del contrato
- Para aquellas con un vencimiento residual inferior o igual a 3 meses: valoración de forma lineal.
- En el caso de una operación de permuta financiera valorada según el precio de mercado y con un vencimiento residual inferior o igual a 3 meses, se congelará el último tipo aplicado hasta la fecha del reembolso final, salvo en caso de sensibilidad particular que requiera una valoración a precio de mercado (véase el párrafo anterior).
- El pasivo se calcula del siguiente modo:
- Operaciones respaldadas: valor nominal del contrato
- Operaciones no respaldadas: valor nominal del contrato
- Otras operaciones en los mercados OTC
- Operaciones de tipos de interés, de cambio o de crédito: valoración según el precio de mercado sobre la base de los datos obtenidos de un servidor de información financiera (Bloomberg, Reuters, etc.) y, si fuese necesario, utilizando un método actuarial. | # Transactions on regulated markets
- Futures transactions: these transactions are valued according to the markets on the basis of the settlement price. The commitment is calculated as follows: price of futures contract x nominal value of contract x quantities.
- Options transactions: these contracts are valued according to the markets on the basis of the opening price or the settlement price. The commitment is equal to the conversion of the option into the underlying equivalent. It is calculated as follows: delta x quantity x ratio or nominal value of the contract x price of the underlying equivalent.
### Transactions on over-the-counter markets
- Interest rate transactions: valuation at the market price on the basis of information feeds sourced from a financial information vendor (Bloomberg, Reuters, etc.) and, if necessary, by applying an actuarial method.
- Interest rate swap transactions:For those with a residual maturity greater than three months: valuation at the market price on the basis of information feeds sourced from a financial information vendor (Bloomberg, Reuters, etc.) and by applying an actuarial method.
- Backed or non-backed transactions:
- Fixed rate/Variable rate: nominal value of the contract.
- Variable rate/Fixed rate: nominal value of the contract.
- For those with a residual maturity of three months or less: valued on a straight-line basis.
- In the case of an interest rate swap transaction valued at the market price whose residual maturity is less than or equal to three months, the last rate used shall be frozen until the final repayment date, except in the case of modified duration requiring valuation at the market price (see the previous paragraph).
- The commitment is calculated as follows:
- Backed transactions: nominal value of the contract.
- Non-backed transactions: nominal value of the contract.
- Other transactions on over-the-counter markets
- Interest rate, foreign exchange or credit transactions: valuation at the market price on the basis of information feeds sourced from a financial information vendor (Bloomberg, Reuters, etc.) and, if necessary, by applying an actuarial method. | en | es |
DOLFIN4025 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable econ- omic activities. The investments underlying the remaining por- tion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
The STOXX Europe 50 (NR) benchmark index is administered by STOXX Limited. STOXX Limited is registered in the offi- cial Register of Administrators and Benchmarks maintained
by the European Securities and Markets Authority (ESMA). The other two benchmark indices are administered by JPMor- gan Chase & Co. The administrator is from a third country. For third-country providers the transitional period for registra- tion in the official Register of Administrators and Benchmarks maintained by the European Securities and Markets Author- ity (ESMA) has been extended until 31st December 2023. The Company expects JPMorgan Chase & Co to be entered in the register by the end of this period.
The administrators of the benchmarks do not review the indices and their constituents for ESG compliance. ESG risks for issuers and their efforts to promote ESG objectives are incorporated into the Fund solely as part of the active invest- ment process by the Manager. A description of the method for calculating the index can be found at “https://www.stoxx.com/ document/Indices/Common/Indexguide/stoxx_index_guide. pdf” and “https://jpmorganindices.com/indices/listing”.
The Company has drawn up roust written plans in which it has set out the measures it will take if the benchmark index changes materially or ceases to be provided.
No guarantee can be provided that the objectives of the invest- ment policy will actually be achieved. | Der Grundsatz „Vermeidung erheblicher Beeinträchtigungen“ findet nur bei denjenigen dem Finanzprodukt zugrunde liegen den Investitionen Anwendung, die die EUKriterien für öko logisch nachhaltige Wirtschaftsaktivitäten berücksichtigen.
Die dem verbleibenden Teil dieses Finanzprodukts zugrunde liegenden Investitionen berücksichtigen nicht die EUKriterien für ökologisch nachhaltige Wirtschaftsaktivitäten.
Der Vergleichsindex STOXX Europe 50 (NR) wird von der STOXX Limited administriert. Die STOXX Limited ist bei der europäischen Wertpapieraufsichtsbehörde ESMA in ein öffent
liches Register von Administratoren und von Referenzwerten eingetragen. Die beiden anderen Indizes werden von JPMorgan Chase & Co administriert. Der Administrator stammt aus einem Drittstaat. Für DrittstaatAnbieter wurde die Übergangsfrist zur Eintragung in das öffentliche Register von Administratoren und von Referenzwerten bei der europäischen Wertpapierauf sichtsbehörde ESMA bis zum 31. Dezember 2023 verlängert.
Die Gesellschaft erwartet, dass JPMorgan Chase & Co bis zum Ablauf der Frist ins Register eingetragen sein wird.
Die Administratoren des Vergleichsmaßstabes überprüfen die Indizes und ihre Konstituenten nicht auf ESGKonformität. ESGRisiken für die Emittenten und ihre Anstrengungen zur Förderung von ESGZielen werden für den Fonds ausschließ lich im Rahmen des aktiven Anlageprozesses durch den Fonds manager eingebunden. Eine Beschreibung der Methode zur Berechnung des Index findet sich unter „https://www.stoxx. com/document/Indices/Common/Indexguide/stoxx_index_ guide.pdf“ und „https://jpmorganindices.com/indices/listing“.
Die Gesellschaft hat robuste schriftliche Pläne aufgestellt, in denen sie Maßnahmen dargelegt hat, die sie ergreifen würde, wenn der Vergleichsindex sich wesentlich ändert oder nicht mehr bereitgestellt wird.
Es kann keine Zusicherung gegeben werden, dass die Ziele der Anlagepolitik tatsächlich erreicht werden. | The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable econ- omic activities. The investments underlying the remaining por- tion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
The STOXX Europe 50 (NR) benchmark index is administered by STOXX Limited. STOXX Limited is registered in the offi- cial Register of Administrators and Benchmarks maintained
by the European Securities and Markets Authority (ESMA). The other two benchmark indices are administered by JPMor- gan Chase & Co. The administrator is from a third country. For third-country providers the transitional period for registra- tion in the official Register of Administrators and Benchmarks maintained by the European Securities and Markets Author- ity (ESMA) has been extended until 31st December 2023. The Company expects JPMorgan Chase & Co to be entered in the register by the end of this period.
The administrators of the benchmarks do not review the indices and their constituents for ESG compliance. ESG risks for issuers and their efforts to promote ESG objectives are incorporated into the Fund solely as part of the active invest- ment process by the Manager. A description of the method for calculating the index can be found at “https://www.stoxx.com/ document/Indices/Common/Indexguide/stoxx_index_guide. pdf” and “https://jpmorganindices.com/indices/listing”.
The Company has drawn up roust written plans in which it has set out the measures it will take if the benchmark index changes materially or ceases to be provided.
No guarantee can be provided that the objectives of the invest- ment policy will actually be achieved. | en | de |
DOLFIN4026 | 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’s investment objective is to outperform the MSCI Europe Small Cap Net Return EUR index over a minimum investment horizon of five years.
Between 75% and 100% of the Fund’s net assets will be invested, across all sectors, in shares issued by companies of any capitalisation that have their registered office in Europe (i.e. in the European Economic Area or any European OECD member). At least 75% of the Fund’s investments shall be in small and mid-cap companies.
The management strategy implemented is a discretionary investment strategy based on stock-picking and a rigorous procedure for selecting European growth stocks. It favours companies whose income growth is above the market average and is careful not to pay too much for these growth stocks (Growth at a Reasonable Price).
The Fund may invest:
- between 75% and 100% in shares of companies of all market capitalisations, with at least 75% in small and mid-cap companies that have their registered office in Europe (i.e. in the European Economic Area or any European OECD member). No business sector will be targeted in particular.
- up to 25% of the Fund’s net assets may be exposed to (i) shares of companies headquartered outside of Europe, including in emerging countries (up to 10% of net assets), and (ii) the currencies of countries not in Europe in connection with investments in the securities of companies headquartered outside of Europe, including in emerging countries (up to 10% of net assets).
- between 0% and 25% of its net assets in money market instruments as part of cash management. This portfolio component shall consist of debt securities such as transferable debt securities, money market instruments and short-term bonds rated Investment Grade, i.e. between AAA and BBB- (by Standard & Poor’s or deemed equivalent by the Management Company or using the Management Company’s internal rating), which are denominated in euro and from issuers headquartered in the European Union or United Kingdom. The Management Company does not use the ratings issued by ratings agencies automatically or in isolation, as it also applies its own internal analysis. In the event of a downgrade, the Management Company will take the interests of unitholders, market conditions and its own analysis of these fixed income products into account when respecting rating limits.
- up to 10% of its net assets in (i) units or shares of UCITS under European Directive 2009/65/EC, (ii) European Union AIFs and/or foreign investment fundsmentioned in R.214-25 that meet the criteria of Article R.214-13 of the French Monetary and Financial Code. These funds may be managed by ODDO BHF Asset Management SAS, ODDO BHF Asset Management GmbH and ODDO BHF Asset Management Lux, and will be compatible with the Fund’s investment strategy.
The Fund may invest in forwards or options traded on regulated or organised markets or over-the-counter in France and other countries to hedge the portfolio against or expose the portfolio to equity risks (futures, options on equities or indices). These instruments shall be held subject to the limit of 100% of the Fund’s net assets. The Fund shall not use total return swaps.
The Fund may hold warrants or subscription certificates subject to the limit of 10% of its net assets and may use callable bonds (bonds that the issuer may redeem prior to maturity but that have no other optional elements or sources of complexity) and puttable bonds (bonds that allow the holder to force the issuer to repurchase the security but that have no other optional elements or sources of complexity) subject to the limit of 25% of its net assets.
The Fund may, for cash management purposes, to invest guarantees obtained in the context of securities lending or to maximise Fund income, use reverse repurchase agreements, up to a maximum of 20% of its net assets, or securities lending, also up to a maximum of 20% of its net assets.
Other information:
The management team takes into account environmental, social and governance (ESG) criteria in its investment decisions but they are not the dominant factor. The investment decisions taken may therefore not be consistent with ESG criteria.
The Management Company may make use of a gate provision to cap redemptions. For more details on this provision, please refer to the “Gate provision for capping redemptions” section of the prospectus, available at http://am.oddo-bhf.com.
Subscription and redemption requests are centralised by the depositary every Paris stock exchange trading day until 11:15 (Paris time, CET/CEST) and executed on the basis of the net asset value of the same day.
CN-EUR units accumulate their income. Recommended investment horizon: 5 years | # OBJETIVOS Y POLÍTICA DE INVERSIÓN
El objetivo de gestión del Fondo consiste en lograr una rentabilidad superior a la del índice MSCI Europe Small Cap Net Return, en EUR, en un horizonte mínimo de inversión de 5 años.
El Fondo invertirá entre un 75% y un 100% de su patrimonio neto en acciones de cualquier sector y capitalización, emitidas por empresas que tengan su domicilio social en Europa, ya sea en el Espacio Económico Europeo o en un país europeo miembro de la OCDE. El Fondo invertirá un 75% como mínimo en valores de pequeña y mediana capitalización.
La estrategia de gestión implementada es una estrategia de inversión discrecional basada en un enfoque de selección de valores (stock-picking) y en una metodología rigurosa de selección de valores de crecimiento europeos. Esta estrategia privilegia las sociedades que registran un crecimiento de los resultados superior al crecimiento medio del mercado, y procura no comprar a precios demasiado caros estos valores en pleno crecimiento (Growth at Reasonable Price).
El Fondo puede invertir:
- del 75% al 100% en acciones de cualquier capitalización, con un mínimo del 75% en valores de pequeña y mediana capitalización, emitidos por empresas que tengan su domicilio social en Europa, ya sea en el Espacio Económico Europeo o en un país europeo miembro de la OCDE. No se centrará en ningún sector de actividad en particular.
- un 25% del patrimonio neto del Fondo en (i) acciones de empresas cuyo domicilio social se encuentre fuera de Europa, incluidos los países emergentes (hasta un máximo del 10% del patrimonio neto); y (ii) divisas de países que no pertenecen a Europa relacionadas con inversiones en títulos de empresas de fuera de Europa, incluidos los países emergentes (hasta un máximo del 10%).
- entre el 0% y el 25 % en productos de gestión monetaria en el marco de la gestión de su tesorería. Este componente de gestión estará constituido por títulos de crédito, tales como títulos de crédito negociables, instrumentos del mercado monetario y obligaciones a corto plazo con calificación investment grade, es decir, con una calificación de entre AAA y BBB- (otorgada por Standard & Poor’s u equivalente en opinión de la Sociedad gestora, o concedida de manera interna por parte de la Sociedad gestora), denominados en euros y cuyo emisor tenga su domicilio social en la Unión Europea o en el Reino Unido. La Sociedad gestora no recurre de forma exclusiva y mecánica a las calificaciones emitidas por las agencias de calificación y lleva a cabo su propio análisis interno. En el supuesto de rebajarse la calificación crediticia, se tendrá en cuenta en la evaluación de los límites de calificación el interés de los partícipes, la coyuntura del mercado y el análisis interno de la Sociedad gestora sobre la calificación de estos instrumentos de renta fija.
- hasta el 10% de su patrimonio neto en (i) participaciones o acciones de OICVM conformes a la Directiva europea 2009/65/CE; (ii) fondos de inversión alternativos constituidos en un Estado miembro de la Unión Europea y/o en fondos de inversión de derecho extranjero descritos en el artículo R.214-25 y que reúnan los requisitos previstos en el artículo R.214-13 del Código Monetario y Financiero francés. Dichos OIC podrán estar gestionados por ODDO BHF Asset Management SAS, ODDO BHF Asset Management GmbH y ODDO BHF Asset Management Lux y serán compatibles con la estrategia de inversión del Fondo.
El Fondo podrá utilizar los instrumentos financieros a plazo firme o condicional, negociados en mercados regulados, organizados u OTC, tanto franceses como extranjeros, con fines de cobertura o de exposición de la cartera al riesgo de renta variable (futuros, opciones sobre acciones o índices). Estos instrumentos se mantendrán dentro del límite del 100% del patrimonio neto del Fondo. El Fondo no recurrirá a las permutas de rentabilidad total (total return swaps).
El Fondo podrá mantener warrants o bonos de suscripción hasta un máximo del 10% del patrimonio neto del Fondo y podrá recurrir a los bonos «callable» (bonos con opción de recompra o amortización anticipada, sin ningún otro elemento de opción o complejidad adicional) y a los bonos «puttable» (bonos con opción de reventa, sin ningún otro elemento de opción o complejidad adicional), hasta un máximo del 25% del patrimonio neto del Fondo.
El Fondo puede recurrir, con el fin de gestionar la tesorería, invertir las garantías obtenidas en relación con préstamos de valores u optimizar los ingresos del Fondo, a las operaciones con pacto de retroventa en un máximo del 20% del patrimonio neto y a los préstamos de valores en un 20% como máximo del patrimonio neto.
Otra información:
El equipo de gestión tiene en cuenta los criterios ambientales, sociales y de gobierno corporativo (ESG) en el proceso de toma decisiones de inversión, aunque de forma no preponderante. Por consiguiente, las decisiones de inversión adoptadas podrían no ajustarse a los criterios ESG.
La Sociedad gestora podrá adoptar un mecanismo de limitación de las solicitudes de reembolso (conocido como «gate» en inglés). Si desea obtener más información sobre este mecanismo, consulte el apartado «Dispositivo de limitación de los reembolsos» del folleto, disponible en http://am.oddo-bhf.com.
Las solicitudes de suscripción y de reembolso se centralizan en las oficinas del depositario cada día hábil para la Bolsa de París hasta las 11:15 horas (hora de París, CET/CEST) y se ejecutan aplicando el valor liquidativo del mismo día.
La participación CN-EUR capitaliza sus ingresos. Horizonte de inversión recomendado: 5 años | # OBJECTIVES AND INVESTMENT POLICY
The Fund’s investment objective is to outperform the MSCI Europe Small Cap Net Return EUR index over a minimum investment horizon of five years.
Between 75% and 100% of the Fund’s net assets will be invested, across all sectors, in shares issued by companies of any capitalisation that have their registered office in Europe (i.e. in the European Economic Area or any European OECD member). At least 75% of the Fund’s investments shall be in small and mid-cap companies.
The management strategy implemented is a discretionary investment strategy based on stock-picking and a rigorous procedure for selecting European growth stocks. It favours companies whose income growth is above the market average and is careful not to pay too much for these growth stocks (Growth at a Reasonable Price).
The Fund may invest:
- between 75% and 100% in shares of companies of all market capitalisations, with at least 75% in small and mid-cap companies that have their registered office in Europe (i.e. in the European Economic Area or any European OECD member). No business sector will be targeted in particular.
- up to 25% of the Fund’s net assets may be exposed to (i) shares of companies headquartered outside of Europe, including in emerging countries (up to 10% of net assets), and (ii) the currencies of countries not in Europe in connection with investments in the securities of companies headquartered outside of Europe, including in emerging countries (up to 10% of net assets).
- between 0% and 25% of its net assets in money market instruments as part of cash management. This portfolio component shall consist of debt securities such as transferable debt securities, money market instruments and short-term bonds rated Investment Grade, i.e. between AAA and BBB- (by Standard & Poor’s or deemed equivalent by the Management Company or using the Management Company’s internal rating), which are denominated in euro and from issuers headquartered in the European Union or United Kingdom. The Management Company does not use the ratings issued by ratings agencies automatically or in isolation, as it also applies its own internal analysis. In the event of a downgrade, the Management Company will take the interests of unitholders, market conditions and its own analysis of these fixed income products into account when respecting rating limits.
- up to 10% of its net assets in (i) units or shares of UCITS under European Directive 2009/65/EC, (ii) European Union AIFs and/or foreign investment fundsmentioned in R.214-25 that meet the criteria of Article R.214-13 of the French Monetary and Financial Code. These funds may be managed by ODDO BHF Asset Management SAS, ODDO BHF Asset Management GmbH and ODDO BHF Asset Management Lux, and will be compatible with the Fund’s investment strategy.
The Fund may invest in forwards or options traded on regulated or organised markets or over-the-counter in France and other countries to hedge the portfolio against or expose the portfolio to equity risks (futures, options on equities or indices). These instruments shall be held subject to the limit of 100% of the Fund’s net assets. The Fund shall not use total return swaps.
The Fund may hold warrants or subscription certificates subject to the limit of 10% of its net assets and may use callable bonds (bonds that the issuer may redeem prior to maturity but that have no other optional elements or sources of complexity) and puttable bonds (bonds that allow the holder to force the issuer to repurchase the security but that have no other optional elements or sources of complexity) subject to the limit of 25% of its net assets.
The Fund may, for cash management purposes, to invest guarantees obtained in the context of securities lending or to maximise Fund income, use reverse repurchase agreements, up to a maximum of 20% of its net assets, or securities lending, also up to a maximum of 20% of its net assets.
Other information:
The management team takes into account environmental, social and governance (ESG) criteria in its investment decisions but they are not the dominant factor. The investment decisions taken may therefore not be consistent with ESG criteria.
The Management Company may make use of a gate provision to cap redemptions. For more details on this provision, please refer to the “Gate provision for capping redemptions” section of the prospectus, available at http://am.oddo-bhf.com.
Subscription and redemption requests are centralised by the depositary every Paris stock exchange trading day until 11:15 (Paris time, CET/CEST) and executed on the basis of the net asset value of the same day.
CN-EUR units accumulate their income. Recommended investment horizon: 5 years | en | es |
DOLFIN4027 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Practical Information
Historic performance to 31 December 2021
| | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund | | | | -5.1 | 3.6 | 39.7 | -19.8 | 19.3 | 26.1 | -8.2 |
| Benchmark † | | | | -4.5 | 3.9 | 40.6 | -19.5 | 19.9 | 26.8 | -7.9 |
The depositary of the Fund is State Street Custodial Services (Ireland) Limited.
Further information about the Fund and the Share Class can be obtained from the latest annual report and half-yearly reports of iShares V plc. These documents are available free of charge in English and certain other languages. These can be found, along with other information, such as details of the key underlying investments of the Share Class and share prices, on the iShares website at www.ishares.com or by calling +44 (0)845 357 7000 or from your broker or financial adviser.
Investors should note that the tax legislation that applies to the Fund and Share Class may have an impact on the personal tax position of your investment.
The Fund is a sub-fund of iShares V plc, an umbrella structure comprising different sub-funds. The Fund has one or more share classes. This document is specific to the Fund and Share Class stated at the beginning of this document. However, the prospectus, annual and half-yearly reports are prepared for the umbrella.
iShares V plc 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 Fund's prospectus.
The indicative intra-day net asset value of the Share Class is available at http://deutsche-boerse.com and/or http://www.reuters.com.
Under Irish law, iShares V plc has segregated liability between its sub-funds (i.e. the Fund’s assets will not be used to discharge the liabilities of other sub-funds within iShares V plc). In addition, the Fund's assets are held separately from the assets of other sub-funds. Assets and liabilities specific to a share class would be attributable to only that share class, however there is no segregation of liabilities between share classes under Irish law.
Switching of shares between the Fund and other sub-funds within iShares V plc is not available to investors. Only Authorised Participants dealing directly with the Fund may switch shares between share classes of the Fund subject to meeting certain conditions in the Fund's prospectus.
The Remuneration Policy of the Management Company, which describes how remuneration and benefits are determined and awarded, and the associated governance arrangements, is available at www.blackrock.com/Remunerationpolicy or on request from the registered office of the Management Company.
This Fund and its manager, BlackRock Asset Management Ireland Limited, are authorised in Ireland and regulated by the Central Bank of Ireland. This Key Investor Information is accurate as at 15 March 2022 | # Información Práctica
Rentabilidad histórica hasta el 31 de diciembre de 2021
| | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fondo | | | | -5,1 | 3,6 | 39,7 | -19,8 | 19,3 | 26,1 | -8,2 |
| Índice † | | | | -4,5 | 3,9 | 40,6 | -19,5 | 19,9 | 26,8 | -7,9 |
El depositario del Fondo es State Street Custodial Services (Ireland) Limited.
Puede obtenerse información adicional acerca del Fondo y de la Clase de acciones en el último informe anual y los últimos informes semestrales de iShares V plc. Dichos documentos están disponibles de forma gratuita en inglés y otros idiomas. Podrán obtenerse, junto con otra información como detalles de las principales inversiones subyacentes de la Clase de acciones y los precios de las acciones, en el sitio web de iShares cuya dirección es www.ishares.com o llamando al +44 (0) 845 357 7000, o de su intermediario bursátil o asesor financiero.
Los inversores deben tener presente que la legislación tributaria de aplicación al Fondo y a la Clase de acciones puede repercutir en la posición fiscal personal de su inversión.
El Fondo es un compartimento de iShares V plc, una estructura paraguas compuesta de diferentes compartimentos. El Fondo tiene una o más clases de acciones. Este documento es específico del Fondo y de la Clase de acciones que se indican al principio de este documento. No obstante, el folleto y los informes anuales y semestrales se preparan para todo el paraguas.
iShares V plc 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 valor de inventario neto intradía indicativo de la Clase de acciones está disponible en http://deutsche-boerse.com y/o http://www.reuters.com.
Con arreglo a la legislación irlandesa, iShares V plc mantiene responsabilidad segregada entre sus compartimentos (significa que los activos del Fondo no se utilizarán para hacer frente a los pasivos de otros compartimentos dentro de iShares V plc). Además, los activos del Fondo se mantienen separados de los activos de otros compartimentos. Los activos y pasivos específicos a una clase de acciones serían atribuibles solamente a esa clase de acciones, aunque con arreglo a la legislación irlandesa no hay segregación de los pasivos entre las clases de acciones.
El canje de acciones entre el Fondo y otros compartimentos de iShares V plc no está disponible para los inversores. Solamente los Participantes Autorizados que operan directamente con el Fondo podrán canjear acciones entre clases de acciones del Fondo, siempre y cuando se cumplan determinadas condiciones establecidas en el folleto del Fondo.
La Política de remuneración de la Sociedad de gestión, que describe el modo en que se calculan y conceden la remuneración y las prestaciones, así como los acuerdos de gestión relacionados, se encuentra disponible en www.blackrock.com/Remunerationpolicy o puede obtenerse mediante solicitud al domicilio social de la Sociedad de gestión.
El Fondo y su sociedad gestora, BlackRock Asset Management Ireland Limited, están autorizados en Irlanda y su autoridad reguladora es el Banco Central de Irlanda.
Estos Datos Fundamentales para el Inversor son exactos a 15 marzo 2022 | # Practical Information
Historic performance to 31 December 2021
| | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund | | | | -5.1 | 3.6 | 39.7 | -19.8 | 19.3 | 26.1 | -8.2 |
| Benchmark † | | | | -4.5 | 3.9 | 40.6 | -19.5 | 19.9 | 26.8 | -7.9 |
The depositary of the Fund is State Street Custodial Services (Ireland) Limited.
Further information about the Fund and the Share Class can be obtained from the latest annual report and half-yearly reports of iShares V plc. These documents are available free of charge in English and certain other languages. These can be found, along with other information, such as details of the key underlying investments of the Share Class and share prices, on the iShares website at www.ishares.com or by calling +44 (0)845 357 7000 or from your broker or financial adviser.
Investors should note that the tax legislation that applies to the Fund and Share Class may have an impact on the personal tax position of your investment.
The Fund is a sub-fund of iShares V plc, an umbrella structure comprising different sub-funds. The Fund has one or more share classes. This document is specific to the Fund and Share Class stated at the beginning of this document. However, the prospectus, annual and half-yearly reports are prepared for the umbrella.
iShares V plc 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 Fund's prospectus.
The indicative intra-day net asset value of the Share Class is available at http://deutsche-boerse.com and/or http://www.reuters.com.
Under Irish law, iShares V plc has segregated liability between its sub-funds (i.e. the Fund’s assets will not be used to discharge the liabilities of other sub-funds within iShares V plc). In addition, the Fund's assets are held separately from the assets of other sub-funds. Assets and liabilities specific to a share class would be attributable to only that share class, however there is no segregation of liabilities between share classes under Irish law.
Switching of shares between the Fund and other sub-funds within iShares V plc is not available to investors. Only Authorised Participants dealing directly with the Fund may switch shares between share classes of the Fund subject to meeting certain conditions in the Fund's prospectus.
The Remuneration Policy of the Management Company, which describes how remuneration and benefits are determined and awarded, and the associated governance arrangements, is available at www.blackrock.com/Remunerationpolicy or on request from the registered office of the Management Company.
This Fund and its manager, BlackRock Asset Management Ireland Limited, are authorised in Ireland and regulated by the Central Bank of Ireland. This Key Investor Information is accurate as at 15 March 2022 | en | es |
DOLFIN4028 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# 6361d596-0b8d-49de-9294-be1a26e92e95
Document d’informations clés
Objectif
Ce document vous fournit des informations clés sur ce produit d’investissement. Il ne s’agit pas d’un support de marketing. Ces informations sont exigées par la loi pour vous aider à comprendre la nature, les risques, les coûts ainsi que les gains et pertes potentiels de ce produit, et pour vous aider à le comparer à d’autres produits.
Produit
Nom du produit/ISIN Credit Suisse JPMorgan Sustainable Nutrition Fund - classe d’actions SB USD (le Produit); ISIN LU2370568763; dans la monnaie de classe d'actions USD
une classe d’actions de Credit Suisse JPMorgan Sustainable Nutrition Fund (le Compartiment)
un Compartiment de Credit Suisse Wealth Funds 1 (la Société à compartiments / la Société d’investissement)
Le produit est un compartiment OPCVM constitué au Luxembourg. Il est géré par MultiConcept Fund Management S.A. (la Société de gestion).
Fabricant du Produit MultiConcept Fund Management S.A., membre du Credit Suisse Group; 5, rue Jean Monnet, L-2180 Luxembourg. Pour en savoir plus, veuillez appeler +352 43 61 61 1 ou consulter www.credit-suisse.com/microsites/multiconcept/en.html.
Autorité compétente Commission de Surveillance du Secteur Financier (CSSF) – est responsable de la surveillance de MultiConcept Fund Management S.A. concernant le présent document d’informations clés | # 624943bd-c670-452f-92f4-5534e950918f
Documento de datos fundamentales
Finalidad
Este documento le proporciona información fundamental que debe conocer sobre este producto de inversión. No se trata de material comercial. Es una información exigida por ley para ayudarle a comprender la naturaleza, los riesgos, los costes y los beneficios y pérdidas potenciales de este producto y para ayudarle a compararlo con otros productos.
Producto
Nombre del producto/ISIN Credit Suisse JPMorgan Sustainable Nutrition Fund - clase de acciones SB USD (el producto); ISIN LU2370568763; en la moneda de la clase de acciones USD
una clase de acciones de Credit Suisse JPMorgan Sustainable Nutrition Fund (el subfondo)
un subfondo de Credit Suisse Wealth Funds 1 (el fondo paraguas / la sociedad de inversión)
El producto es un subfondo OICVM establecido en Luxemburgo. Está gestionado por MultiConcept Fund Management S.A. (la Sociedad Gestora).
Fabricante del producto MultiConcept Fund Management S.A., miembro del Credit Suisse Group; 5, rue Jean Monnet, L-2180 Luxemburgo.
Llame al +352 43 61 61 1 o visite www.credit-suisse.com/microsites/multiconcept/en.html para más información.
Autoridad competente La Commission de Surveillance du Secteur Financier (CSSF) es responsable de la supervisión de MultiConcept Fund Management S.A. en relación con este documento de datos fundamentales | # 6361d596-0b8d-49de-9294-be1a26e92e95
Document d’informations clés
Objectif
Ce document vous fournit des informations clés sur ce produit d’investissement. Il ne s’agit pas d’un support de marketing. Ces informations sont exigées par la loi pour vous aider à comprendre la nature, les risques, les coûts ainsi que les gains et pertes potentiels de ce produit, et pour vous aider à le comparer à d’autres produits.
Produit
Nom du produit/ISIN Credit Suisse JPMorgan Sustainable Nutrition Fund - classe d’actions SB USD (le Produit); ISIN LU2370568763; dans la monnaie de classe d'actions USD
une classe d’actions de Credit Suisse JPMorgan Sustainable Nutrition Fund (le Compartiment)
un Compartiment de Credit Suisse Wealth Funds 1 (la Société à compartiments / la Société d’investissement)
Le produit est un compartiment OPCVM constitué au Luxembourg. Il est géré par MultiConcept Fund Management S.A. (la Société de gestion).
Fabricant du Produit MultiConcept Fund Management S.A., membre du Credit Suisse Group; 5, rue Jean Monnet, L-2180 Luxembourg. Pour en savoir plus, veuillez appeler +352 43 61 61 1 ou consulter www.credit-suisse.com/microsites/multiconcept/en.html.
Autorité compétente Commission de Surveillance du Secteur Financier (CSSF) – est responsable de la surveillance de MultiConcept Fund Management S.A. concernant le présent document d’informations clés | fr | es |
DOLFIN4029 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
FLOSSBACH VON STORCH – DER ERSTE SCHRITT
Change in net sub-fund assets
(continued)
in the reporting period from 1 October 2020 to 30 September 2021 | FLOSSBACH VON STORCH – DER ERSTE SCHRITT
Veränderung des Netto-Teilfondsvermögens
(Fortsetzung)
im Berichtszeitraum vom 1. Oktober 2020 bis zum 30. September 2021 | FLOSSBACH VON STORCH – DER ERSTE SCHRITT
Change in net sub-fund assets
(continued)
in the reporting period from 1 October 2020 to 30 September 2021 | en | de |
DOLFIN4030 | 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 1 Year |
| --- | --- |
| Entry costs | We do not charge an entry fee for this product. | N/A |
| Exit costs | We do not charge an exit fee for this product, but the person selling you the product may do so. | N/A |
| Ongoing costs | | |
| Management fees and other administrative or operating costs | 0.66% of the value of your investment per year. This is an estimate based on actual costs over the last year. | 66 GBP |
| Portfolio transaction costs | 0.36% 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. | 36 GBP |
| Incidental costs taken under specific conditions |
| Performance Fee | There is no performance fee for this product. | N/A | | | Costi una tantum di ingresso o di uscita | In caso di uscita dopo 1 Anno |
| --- | --- |
| Costi di ingresso | Non addebitiamo una commissione di ingresso per questo prodotto. | N/A |
| Costi di uscita | Non addebitiamo una commissione di uscita per questo prodotto ma la persona che vende il prodotto può farlo. | N/A |
| Costi correnti | | |
| Commissioni di gestione e altri costi amministrativi o di esercizio | 0,66% del valore dell'investimento all'anno. Si tratta di una stima basata sui costi effettivi dell'ultimo anno. | 66 GBP |
| Costi di transazione del portafoglio | 0,36% 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. | 36 GBP |
| Oneri accessori sostenuti in determinate condizioni |
| Commissioni di performance | Per questo prodotto non si applicano le commissioni di performance. | N/A | | | One-off costs upon entry or exit | If you exit after 1 Year |
| --- | --- |
| Entry costs | We do not charge an entry fee for this product. | N/A |
| Exit costs | We do not charge an exit fee for this product, but the person selling you the product may do so. | N/A |
| Ongoing costs | | |
| Management fees and other administrative or operating costs | 0.66% of the value of your investment per year. This is an estimate based on actual costs over the last year. | 66 GBP |
| Portfolio transaction costs | 0.36% 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. | 36 GBP |
| Incidental costs taken under specific conditions |
| Performance Fee | There is no performance fee for this product. | N/A | | en | it |
DOLFIN4031 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# 7790904b-3c8c-434f-b3b6-c08c0a0f6c09
Document d’informations clés
Objectif
Ce document vous fournit des informations clés sur ce produit d’investissement. Il ne s’agit pas d’un support de marketing. Ces informations sont exigées par la loi pour vous aider à comprendre la nature, les risques, les coûts ainsi que les gains et pertes potentiels de ce produit, et pour vous aider à le comparer à d’autres produits.
Produit
Nom du produit/ISIN Credit Suisse (Lux) Cat Bond Fund - classe d’actions UBH CHF (le Produit); ISIN LU2250179996; une classe d’actions de Credit Suisse (Lux) Cat Bond Fund (le Compartiment)
un Compartiment de CS Investment Funds 4 (la Société à compartiments / la Société d’investissement)
Le produit est un compartiment OPCVM constitué au Luxembourg. Il est géré par Credit Suisse Fund Management S.A. (la Société de gestion).
Fabricant du Produit Credit Suisse Fund Management S.A., member of Credit Suisse Group; 5, rue Jean Monnet, P.O. Box 369, L-2013 Luxembourg. Pour en savoir plus, veuillez appeler +352 43 61 61 436 ou consulter www.credit-suisse.com/fundsearch.
Autorité compétente Commission de Surveillance du Secteur Financier (CSSF) – est responsable de la surveillance de Credit Suisse Fund Management S.A. concernant le présent document d’informations clés | # 347957b6-5704-41f7-a209-d48a34c6492d
Documento de datos fundamentales
Finalidad
Este documento le proporciona información fundamental que debe conocer sobre este producto de inversión. No se trata de material comercial. Es una información exigida por ley para ayudarle a comprender la naturaleza, los riesgos, los costes y los beneficios y pérdidas potenciales de este producto y para ayudarle a compararlo con otros productos.
Producto
Nombre del producto/ISIN Credit Suisse (Lux) Cat Bond Fund - clase de acciones UBH CHF (el producto); ISIN LU2250179996; una clase de acciones de Credit Suisse (Lux) Cat Bond Fund (el subfondo)
un subfondo de CS Investment Funds 4 (el fondo paraguas / la sociedad de inversión)
El producto es un subfondo OICVM establecido en Luxemburgo. Está gestionado por Credit Suisse Fund Management S.A. (la Sociedad Gestora).
Fabricante del producto Credit Suisse Fund Management S.A., miembro del Credit Suisse Group; 5, rue Jean Monnet, P.O. Box 369, L-2013 Luxemburgo.
Llame al +352 43 61 61 436 o visite www.credit-suisse.com/fundsearch para más información.
Autoridad competente La Commission de Surveillance du Secteur Financier (CSSF) es responsable de la supervisión de Credit Suisse Fund Management S.A. en relación con este documento de datos fundamentales | # 7790904b-3c8c-434f-b3b6-c08c0a0f6c09
Document d’informations clés
Objectif
Ce document vous fournit des informations clés sur ce produit d’investissement. Il ne s’agit pas d’un support de marketing. Ces informations sont exigées par la loi pour vous aider à comprendre la nature, les risques, les coûts ainsi que les gains et pertes potentiels de ce produit, et pour vous aider à le comparer à d’autres produits.
Produit
Nom du produit/ISIN Credit Suisse (Lux) Cat Bond Fund - classe d’actions UBH CHF (le Produit); ISIN LU2250179996; une classe d’actions de Credit Suisse (Lux) Cat Bond Fund (le Compartiment)
un Compartiment de CS Investment Funds 4 (la Société à compartiments / la Société d’investissement)
Le produit est un compartiment OPCVM constitué au Luxembourg. Il est géré par Credit Suisse Fund Management S.A. (la Société de gestion).
Fabricant du Produit Credit Suisse Fund Management S.A., member of Credit Suisse Group; 5, rue Jean Monnet, P.O. Box 369, L-2013 Luxembourg. Pour en savoir plus, veuillez appeler +352 43 61 61 436 ou consulter www.credit-suisse.com/fundsearch.
Autorité compétente Commission de Surveillance du Secteur Financier (CSSF) – est responsable de la surveillance de Credit Suisse Fund Management S.A. concernant le présent document d’informations clés | fr | es |
DOLFIN4032 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Coûts ponctuels à l’entrée ou à la sortie | Si vous sortez après 1 An |
| --- | --- |
| Coûts d’entrée | Nous ne facturons pas de coût d’entrée. ** | Néant ** |
| Coûts de sortie | Nous ne facturons pas de coût de sortie pour ce produit, mais la personne qui vous vend le produit peut le faire. ** | Néant ** |
| Coûts récurrents prélevés chaque année | |
| Frais de gestion et autres frais administratifs et d’exploitation | 0,60% de la valeur de votre investissement par an. | USD 60 |
| Coûts de transaction | 0,03% 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. | USD 3 |
| Coûts accessoires prélevés sous certaines conditions | |
| Commission liée aux résultats | Le montant réel varie en fonction de la performance de votre investissement. L’estimation ci- dessus des coûts totaux comprend la moyenne au cours des 5 dernières années. | USD 0 | | | Costes únicos de entrada o salida | En caso de salida después de 1 Año |
| --- | --- |
| Costes de entrada | No cobramos comisión de entrada.** | N/A ** |
| Costes de salida | No cobramos una comisión de salida por este producto, pero es posible que la persona que se lo venda sí lo haga. ** | N/A ** |
| Costes corrientes detraídos al año | |
| Comisiones de gestión y otros costes administrativos o de funcionamiento | 0,60% del valor de su inversión al año. | USD 60 |
| Costes de operación | 0,03% 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. | USD 3 |
| Costes accesorios detraídos en condiciones específicas | |
| Comisión de rendimiento | El importe real variará en función de lo buenos que sean los resultados de su inversión. La estimación de los costes agregados anterior incluye la media de los últimos 5 años. | USD 0 | | | Coûts ponctuels à l’entrée ou à la sortie | Si vous sortez après 1 An |
| --- | --- |
| Coûts d’entrée | Nous ne facturons pas de coût d’entrée. ** | Néant ** |
| Coûts de sortie | Nous ne facturons pas de coût de sortie pour ce produit, mais la personne qui vous vend le produit peut le faire. ** | Néant ** |
| Coûts récurrents prélevés chaque année | |
| Frais de gestion et autres frais administratifs et d’exploitation | 0,60% de la valeur de votre investissement par an. | USD 60 |
| Coûts de transaction | 0,03% 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. | USD 3 |
| Coûts accessoires prélevés sous certaines conditions | |
| Commission liée aux résultats | Le montant réel varie en fonction de la performance de votre investissement. L’estimation ci- dessus des coûts totaux comprend la moyenne au cours des 5 dernières années. | USD 0 | | fr | es |
DOLFIN4033 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
###### EDMOND DE ROTHSCHILD FUND – EQUITY OPPORTUNITIES (formerly GLOBAL VALUE)
The Fund's strategy changed during the period, with a new management process implemented from 15 June 2020.
The idea was to adopt a strategy that would allow us to make the most of the opportunities offered by an exit scenario. Regardless of the timeframe needed for a return to business as usual, the management team's conviction is that the fabric of the economy will be rewoven in a significantly different way than before the crisis. Companies will emerge strengthened, even in the hardest-hit areas. Lastly, the issues surrounding the regionalisation of companies and the use of technology will become strategic in our view.
The management team identified three key trends or themes that structure the portfolio, allowing it to be well-positioned to make the most of a post-crisis scenario:
1/ Consolidation: in some sectors, particularly those hardest hit by the crisis, the stocks with the strongest balance sheets could see their position strengthened, particularly by way of mergers and acquisitions;
2/ Regionalisation: this crisis has also highlighted some of the limits of the globalisation of value chains and this will likely be felt in some industries. This shift may also be supported by governments wishing to create national or regional champions, particularly in a number of strategic areas;
3/ Technology, lastly, should more than ever be a strategic asset for most sectors.
The portfolio was constructed to have significantly less factor-based exposure. Specifically, we reduced our exposure to financials and energy, and we sold off our airline stocks in full. Conversely, we built up positions in companies with visible growth prospects. This was specifically the case for companies such as Nexi or Visa, major players in the payments sector. In the same vein, we invested in medtech leaders such as Medtronic and Baxter, and in cybersecurity with SailPoint and Checkpoint. This change of tack resulted in a high turnover, where 80% of the stocks in the portfolio had not been present in the previous period. | #### EDMOND DE ROTHSCHILD FUND – EQUITY OPPORTUNITIES (anciennement GLOBAL VALUE)
La stratégie du fond a évolué en cours de période avec un nouveau processus de gestion mis en place à partir du 15 juin 2020. L’idée était d’adopter une stratégie qui permette de saisir les opportunités offertes par un scenario de sortie de crise. Quel que soit l’horizon de temps nécessaire pour une normalisation de l’activité, la conviction de l’équipe de gestion est que le tissu économique va se recomposer d’une manière sensiblement différente du monde d’avant crise. Des entreprises ressortiront renforcées, y compris dans des secteurs sinistrés. Enfin les enjeux autour de la régionalisation des entreprises et de l’usage de la technologie vont devenir selon nous stratégiques.
L’équipe de gestion a identifié trois tendances ou thématiques clés qui structurent le portefeuille et lui permettre d’être bien positionné pour tirer parti d’un scénario d’après crise :
1/ la consolidation : au sein de certains secteurs, particulièrement parmi les plus touchés par la crise, les valeurs bénéficiant des bilans les plus solides pourraient voir leur situation se renforcer notamment à travers des opérations de fusions/acquisitions ;
2/ la régionalisation : cette crise a également mis en lumière certaines limites de la globalisation des chaines de valeurs et cela devrait se ressentir dans certaines industries. Ce mouvement pourrait également être soutenu par les gouvernements, désireux de faire émerger des champions nationaux ou régionaux notamment dans certains domaines stratégiques ;
3/ la technologie, enfin, devrait être plus que jamais un actif stratégique pour la majorité des secteurs
Le portefeuille a été construit afin d’avoir une exposition factorielle nettement moins marquée. Concrètement, nous avons réduit l’exposition aux financières et à l’énergie, et nous avons intégralement vendu les titres de compagnies aériennes. A l’inverse, nous avons bâti des positions sur des sociétés offrant des perspectives de croissance visible. C’est notamment le cas pour des sociétés telles que Nexi ou Visa, grands acteurs des paiements. Suivant cette même logique, nous avons investi dans des leaders de la medtech, comme Medtronic et Baxter, et de la cyber sécurité avec SailPoint et Checkpoint. Le changement d’approche a engendré une forte rotation, 80% des titres présent en portefeuille ne l’étaient pas lors de la période précédente. | ###### EDMOND DE ROTHSCHILD FUND – EQUITY OPPORTUNITIES (formerly GLOBAL VALUE)
The Fund's strategy changed during the period, with a new management process implemented from 15 June 2020.
The idea was to adopt a strategy that would allow us to make the most of the opportunities offered by an exit scenario. Regardless of the timeframe needed for a return to business as usual, the management team's conviction is that the fabric of the economy will be rewoven in a significantly different way than before the crisis. Companies will emerge strengthened, even in the hardest-hit areas. Lastly, the issues surrounding the regionalisation of companies and the use of technology will become strategic in our view.
The management team identified three key trends or themes that structure the portfolio, allowing it to be well-positioned to make the most of a post-crisis scenario:
1/ Consolidation: in some sectors, particularly those hardest hit by the crisis, the stocks with the strongest balance sheets could see their position strengthened, particularly by way of mergers and acquisitions;
2/ Regionalisation: this crisis has also highlighted some of the limits of the globalisation of value chains and this will likely be felt in some industries. This shift may also be supported by governments wishing to create national or regional champions, particularly in a number of strategic areas;
3/ Technology, lastly, should more than ever be a strategic asset for most sectors.
The portfolio was constructed to have significantly less factor-based exposure. Specifically, we reduced our exposure to financials and energy, and we sold off our airline stocks in full. Conversely, we built up positions in companies with visible growth prospects. This was specifically the case for companies such as Nexi or Visa, major players in the payments sector. In the same vein, we invested in medtech leaders such as Medtronic and Baxter, and in cybersecurity with SailPoint and Checkpoint. This change of tack resulted in a high turnover, where 80% of the stocks in the portfolio had not been present in the previous period. | en | fr |
DOLFIN4034 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
If this unit value is achieved within the fourth year, the fund will have achieved, over a period of less than four years, the cumulative performance calculated over a four-year period, thereby resulting in early repayment. In this case, the subse- quent return on costs achieved p.a. for the investor would in any case be greater than 3% p.a. and thus advantageous in comparison to not triggering early termination.
Once the aforementioned repayment event has taken place, the investment limits and risk management of the sub-fund will be suspended and the assets in the sub-fund successively sold. The specification that up to 100% cash can be held before the end of the term also applies here. The net liquidation proceeds will be paid out and the sub-fund closed within ten valuation days of the repayment event taking place. In accordance with Article 16(3) of the management regulations, the units in the sub-fund can continue to be redeemed until the fund is closed. | Si la valeur unitaire des parts est déjà atteinte au cours de la quatrième année, le Fonds aura atteint la performance cumulée calculée à un horizon de quatre ans en moins de quatre ans, ce qui donnera lieu à un remboursement anticipé. Dans ce cas, le rendement annuel des coûts dégagé par la suite serait, dans tous les cas, supérieur à 3 % par an pour l’investisseur, ce qui serait avantageux par rapport à une résiliation non anticipée.
Lorsque l’événement de remboursement susmentionné survient, les limites d’investissement et la gestion des risques du compartiment sont suspendues et les actifs détenus par le compartiment sont graduellement vendus. La règle selon la- quelle jusqu’à 100 % des actifs peuvent être détenus en liquidités avant l’échéance s’applique aussi dans ce cas. Le versement du produit net de liquidation et la liquidation du compartiment ont lieu dans les 10 jours d’évaluation suivant la survenance de l’événement de remboursement. Conformément à l’article 16, chiffre 3 du règlement de gestion, le rachat de parts du compartiment reste possible jusqu’au moment de la dissolution. | If this unit value is achieved within the fourth year, the fund will have achieved, over a period of less than four years, the cumulative performance calculated over a four-year period, thereby resulting in early repayment. In this case, the subse- quent return on costs achieved p.a. for the investor would in any case be greater than 3% p.a. and thus advantageous in comparison to not triggering early termination.
Once the aforementioned repayment event has taken place, the investment limits and risk management of the sub-fund will be suspended and the assets in the sub-fund successively sold. The specification that up to 100% cash can be held before the end of the term also applies here. The net liquidation proceeds will be paid out and the sub-fund closed within ten valuation days of the repayment event taking place. In accordance with Article 16(3) of the management regulations, the units in the sub-fund can continue to be redeemed until the fund is closed. | en | fr |
DOLFIN4035 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
#### Supervisory Board
Werner Taiber
Chairman
Düsseldorf, Chairman of the Supervisory Board of ODDO BHF Aktiengesellschaft, Frankfurt am Main
Grégoire Charbit
Paris, Member of the Board of Management of ODDO BHF Aktiengesellschaft, Frankfurt am Main and of ODDO BHF SCA, Paris
Christophe Tadié
Frankfurt am Main, Member of the Board of Management of ODDO BHF Aktiengesellschaft and ODDO BHF SCA, Chairman of the Board of Directors (CEO) of ODDO BHF Corporates & Markets AG
Thomas Fischer
Kronberg, Member of the Board of Management of ODDO BHF Aktiengesellschaft
Michel Haski
Lutry, Independent Member of the Supervisory Board
Olivier Marchal
Suresnes, Chairman of Bain & Company France and Chairman of the Supervisory Board of ODDO BHF SCA, Paris
All information is correct as of March 2022 | #### Aufsichtsrat
Werner Taiber
Vorsitzender
Düsseldorf, Vorsitzender des Aufsichtsrats der ODDO BHF Aktiengesellschaft, Frankfurt am Main
Grégoire Charbit
Paris, Vorstand der ODDO BHF Aktiengesellschaft, Frankfurt am Main und von ODDO BHF SCA, Paris
Christophe Tadié
Frankfurt am Main, Vorstand ODDO BHF Aktiengesellschaft und ODDO BHF SCA, Vorsitzender des Vorstands (CEO) der ODDO BHF Corporates & Markets AG
Thomas Fischer
Kronberg, Vorstand ODDO BHF Aktiengesellschaft
Michel Haski
Lutry, Unabhängiger Aufsichtsrat
Olivier Marchal
Suresnes, Vorsitzender von Bain & Company France und Vorsitzender des Aufsichtsrats der ODDO BHF SCA, Paris
Alle Angaben Stand März 2022 | #### Supervisory Board
Werner Taiber
Chairman
Düsseldorf, Chairman of the Supervisory Board of ODDO BHF Aktiengesellschaft, Frankfurt am Main
Grégoire Charbit
Paris, Member of the Board of Management of ODDO BHF Aktiengesellschaft, Frankfurt am Main and of ODDO BHF SCA, Paris
Christophe Tadié
Frankfurt am Main, Member of the Board of Management of ODDO BHF Aktiengesellschaft and ODDO BHF SCA, Chairman of the Board of Directors (CEO) of ODDO BHF Corporates & Markets AG
Thomas Fischer
Kronberg, Member of the Board of Management of ODDO BHF Aktiengesellschaft
Michel Haski
Lutry, Independent Member of the Supervisory Board
Olivier Marchal
Suresnes, Chairman of Bain & Company France and Chairman of the Supervisory Board of ODDO BHF SCA, Paris
All information is correct as of March 2022 | en | de |
DOLFIN4036 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
## Contractual Settlement Risk
In the event that a relevant investor fails to deliver adequate funds to the relevant Sub-Fund by such later date(s) as the Manager may, at its sole discretion, determine any Shares allotted to such investor in respect of such subscription shall be cancelled and the relevant investor shall be required to (by way of such investor’s agreement in his/her signed Application Form) indemnify the Company/relevant Sub- Fund for all costs, losses, charges, interest and fees which the Company and/or relevant Sub-Fund has incurred in unwinding the trades effected in respect of such subscription and cancelation of allotment.
In circumstances where the Company is unable to or fail to recover such costs, losses, charges, interest and fees (in whole or in part) the Sub-Fund (and consequently its Shareholders) will bear such costs, losses, charges, interest and fees (but shall also benefit from any gains made similarly on unwinding such transactions). | ## Risque contractuel de non règlement
À défaut, par un investisseur, de fournir des fonds appropriés au Compartiment concerné à la (aux) date(s) ultérieure(s) que la Société de Gestion, à sa discrétion exclusive, peut déterminer, les Actions attribuées à cet investisseur relativement à cette souscription, seront annulées et l’investisseur concerné sera tenu (sur accord de cet investisseur à son Formulaire de Demande signé) d’indemniser la Société/le Compartiment concerné, de l’intégralité des coûts, pertes, frais, intérêts et commissions que la Société et/ou le Compartiment concerné aura engagés dans le cadre de la révocation des opérations réalisées relativement à cette souscription et à l’annulation de l’attribution.
Lorsque la Société est dans l’incapacité ou omet de recouvrer ces coûts, pertes, frais, intérêts et commissions (en tout ou partie), le Compartiment (et, par conséquent, ses Actionnaires) assumera lesdits coûts, pertes, frais, intérêts et commissions (mais bénéficiera également des éventuels gains réalisés de même dans le cadre de la révocation de ces opérations). | ## Contractual Settlement Risk
In the event that a relevant investor fails to deliver adequate funds to the relevant Sub-Fund by such later date(s) as the Manager may, at its sole discretion, determine any Shares allotted to such investor in respect of such subscription shall be cancelled and the relevant investor shall be required to (by way of such investor’s agreement in his/her signed Application Form) indemnify the Company/relevant Sub- Fund for all costs, losses, charges, interest and fees which the Company and/or relevant Sub-Fund has incurred in unwinding the trades effected in respect of such subscription and cancelation of allotment.
In circumstances where the Company is unable to or fail to recover such costs, losses, charges, interest and fees (in whole or in part) the Sub-Fund (and consequently its Shareholders) will bear such costs, losses, charges, interest and fees (but shall also benefit from any gains made similarly on unwinding such transactions). | en | fr |
DOLFIN4037 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
As required under Section 322 of the Companies Act 2014 (as amended), the remuneration for all work carried out by the statutory audit firm in respect of the financial year is as follows:
No Irish tax will arise on the Company in respect of chargeable events in respect of:
- a Shareholder who is neither Irish resident nor ordinarily resident in Ireland for tax purposes, at the time of the chargeable event, provided appropriate valid declarations in accordance with the provisions of the Taxes Consolidation Act, 1997, as amended, are held by the Company, or the Company has been authorised by the Irish Revenue to make gross payments in the absence of appropriate declarations; and
- certain exempted Irish tax resident Shareholders who have provided the Company with the necessary signed statutory declarations.
- any transaction (which might otherwise be a chargeable event) in relation to Shares held in a recognised clearing system as designated by order of the Irish Revenue Commissioners will not constitute a chargeable event. It is the current intention of the Directors that all the Shares in the Company will be held in recognised clearing systems. | Gemäß Section 322 des Companies Act von 2014 (in seiner jeweils geltenden Fassung) erfolgt nachstehend die Angabe der Vergütung für alle seitens der Wirtschaftsprüfungsgesellschaft in Bezug auf dieses Geschäftsjahr durchgeführten Arbeiten:
In folgenden Fällen fallen für die Gesellschaft keine irischen Steuern in Bezug auf Steuertatbestände an:
- im Falle eines Anteilsinhabers, der zum Zeitpunkt des Steuertatbestands für Steuerzwecke weder in Irland ansässig ist noch seinen gewöhnlichen Aufenthaltsort hat, vorausgesetzt, der Gesellschaft liegen entsprechende gültige Erklärungen gemäß den Bestimmungen des irischen Taxes Consolidation Act von 1997 in seiner jeweils gültigen Fassung vor; oder wenn die Gesellschaft beim Fehlen der entsprechenden Erklärungen von der irischen Steuerbehörde zur Zahlung von Bruttobeträgen autorisiert wurde; und
- bei bestimmten von der Steuerpflicht befreiten, in Irland ansässigen Anteilsinhabern, die der Gesellschaft die entsprechenden gesetzlich vorgeschriebenen, von ihnen unterschriebenen Erklärungen vorgelegt haben.
- Transaktionen (die ansonsten ein Steuertatbestand sein können) in Bezug auf Anteile, die über ein anerkanntes Clearing-System, wie durch Erlass der irischen Steuerbehörde festgelegt, gehalten werden, stellen keine Steuertatbestände dar. Der Verwaltungsrat beabsichtigt, alle Anteile der Gesellschaft über anerkannte Clearing-Systeme zu halten. | As required under Section 322 of the Companies Act 2014 (as amended), the remuneration for all work carried out by the statutory audit firm in respect of the financial year is as follows:
No Irish tax will arise on the Company in respect of chargeable events in respect of:
- a Shareholder who is neither Irish resident nor ordinarily resident in Ireland for tax purposes, at the time of the chargeable event, provided appropriate valid declarations in accordance with the provisions of the Taxes Consolidation Act, 1997, as amended, are held by the Company, or the Company has been authorised by the Irish Revenue to make gross payments in the absence of appropriate declarations; and
- certain exempted Irish tax resident Shareholders who have provided the Company with the necessary signed statutory declarations.
- any transaction (which might otherwise be a chargeable event) in relation to Shares held in a recognised clearing system as designated by order of the Irish Revenue Commissioners will not constitute a chargeable event. It is the current intention of the Directors that all the Shares in the Company will be held in recognised clearing systems. | en | de |
DOLFIN4038 | 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 | €5640,00 | €6010,63 |
| Performance moyenne chaque année en % | -43,60 | -9,68 |
| Scénario défavorable Ce type de scénario est survenu RobecoSAM SDG Credit Income IH EUR entre 2021-08-31 et 2022-11-30. |
| Ce que vous récupérerez après imputation des frais | €8240,00 | €8578,49 |
| Performance moyenne chaque année en % | -17,60 | -3,02 |
| Scénario modéré Ce type de scénario est survenu RobecoSAM SDG Credit Income IH EUR entre 2014-09-30 et 2019-09-30. |
| Ce que vous récupérerez après imputation des frais | €10290,00 | €11347,24 |
| Performance moyenne chaque année en % | 3,00 | 2,56 |
| Scénario favorable Ce type de scénario est survenu RobecoSAM SDG Credit Income IH EUR entre 2016-01-31 et 2021-01-31. |
| Ce que vous récupérerez après imputation des frais | €11380,00 | €12551,52 |
| Performance moyenne chaque année en % | 14,00 | 4,65 |
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 | €5640,00 | €6010,63 |
| Rendimiento medio anual % | -43,60 | -9,68 |
| Supuesto desfavorable Este tipo de escenario ocurrió por RobecoSAM SDG Credit Income IH EUR entre 2021-08-31 y 2022-11-30. |
| Importe que podría obtener descontados los costes | €8240,00 | €8578,49 |
| Rendimiento medio anual % | -17,60 | -3,02 |
| Supuesto alternativo Este tipo de escenario ocurrió por RobecoSAM SDG Credit Income IH EUR entre 2014-09-30 y 2019-09-30. |
| Importe que podría obtener descontados los costes | €10290,00 | €11347,24 |
| Rendimiento medio anual % | 3,00 | 2,56 |
| Supuesto favorable Este tipo de escenario ocurrió por RobecoSAM SDG Credit Income IH EUR entre 2016-01-31 y 2021-01-31. |
| Importe que podría obtener descontados los costes | €11380,00 | €12551,52 |
| Rendimiento medio anual % | 14,00 | 4,65 |
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 | €5640,00 | €6010,63 |
| Performance moyenne chaque année en % | -43,60 | -9,68 |
| Scénario défavorable Ce type de scénario est survenu RobecoSAM SDG Credit Income IH EUR entre 2021-08-31 et 2022-11-30. |
| Ce que vous récupérerez après imputation des frais | €8240,00 | €8578,49 |
| Performance moyenne chaque année en % | -17,60 | -3,02 |
| Scénario modéré Ce type de scénario est survenu RobecoSAM SDG Credit Income IH EUR entre 2014-09-30 et 2019-09-30. |
| Ce que vous récupérerez après imputation des frais | €10290,00 | €11347,24 |
| Performance moyenne chaque année en % | 3,00 | 2,56 |
| Scénario favorable Ce type de scénario est survenu RobecoSAM SDG Credit Income IH EUR entre 2016-01-31 et 2021-01-31. |
| Ce que vous récupérerez après imputation des frais | €11380,00 | €12551,52 |
| Performance moyenne chaque année en % | 14,00 | 4,65 |
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 |
DOLFIN4039 | 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?
Indicateur de risque
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Risque le plus faible Risque le plus élevé
L’indicateur de risque part de l’hypothèse que vous conservez le produit 1 année. Le risque réel peut être très différent si vous optez pour une sortie avant échéance, et vous pourriez obtenir moins en retour.
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.
Nous avons classé ce produit dans la classe de risque 1 sur 7, qui est la classe de risque la plus basse.
Cela permet d’évaluer les pertes potentielles liées aux performances futures à un niveau très faible, et les mauvaises conditions de marché sont très peu susceptibles d’avoir un impact sur la capacité de l’initiateur de PRIIP à vous payer.
Soyez conscient du risque de change. Dans certaines circonstances, vous pouvez recevoir des paiements dans une devise différente de votre devise locale. Le rendement final que vous obtiendrez peut donc dépendre du taux de change entre les deux devises. Ce risque n’est pas pris en compte dans l’indicateur ci-dessus.
Pour les autres risques importants liés à ce produit qui ne sont pas pris en compte dans l’indicateur de risque résumé, veuillez vous reporter au prospectus et/ou au supplément du Fonds.
Ce produit ne prévoyant pas de protection contre les aléas de marché, vous pourriez perdre tout ou partie de votre investissement. | # ¿Qué riesgos corro y qué podría obtener a cambio?
Indicador de riesgo
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Riesgo más bajo Riesgo más alto
El indicador de riesgo presupone que usted mantendrá el producto durante 1 año. El riesgo real puede variar considerablemente en caso de salida anticipada, por lo que es posible que recupere menos dinero.
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.
Hemos clasificado este producto en la clase de riesgo 1 en una escala de 7, en la que 1 significa «el riesgo más bajo».
Esto clasifica las pérdidas potenciales de la rentabilidad futura a un nivel bajo, y es muy poco probable que las malas condiciones del mercado afecten a la capacidad del productor del PRIIP para pagarle.
Tenga en cuenta el riesgo cambiario. En algunas circunstancias, es posible que reciba pagos en una divisa distinta de su moneda local, por lo que el rendimiento final que obtenga puede depender del tipo de cambio entre ambas divisas. Este riesgo no se tiene en cuenta en el indicador que se muestra arriba.
Para otros riesgos materialmente relevantes para este producto que no se tienen en cuenta en el indicador resumido de riesgo, consulte el Folleto informativo y/o el suplemento del Fondo.
Este producto no incluye protección alguna contra la evolución futura del mercado, por lo que podría perder una parte o la totalidad de su inversión. | # Quels sont les risques et qu’est-ce que cela pourrait me rapporter?
Indicateur de risque
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Risque le plus faible Risque le plus élevé
L’indicateur de risque part de l’hypothèse que vous conservez le produit 1 année. Le risque réel peut être très différent si vous optez pour une sortie avant échéance, et vous pourriez obtenir moins en retour.
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.
Nous avons classé ce produit dans la classe de risque 1 sur 7, qui est la classe de risque la plus basse.
Cela permet d’évaluer les pertes potentielles liées aux performances futures à un niveau très faible, et les mauvaises conditions de marché sont très peu susceptibles d’avoir un impact sur la capacité de l’initiateur de PRIIP à vous payer.
Soyez conscient du risque de change. Dans certaines circonstances, vous pouvez recevoir des paiements dans une devise différente de votre devise locale. Le rendement final que vous obtiendrez peut donc dépendre du taux de change entre les deux devises. Ce risque n’est pas pris en compte dans l’indicateur ci-dessus.
Pour les autres risques importants liés à ce produit qui ne sont pas pris en compte dans l’indicateur de risque résumé, veuillez vous reporter au prospectus et/ou au supplément du Fonds.
Ce produit ne prévoyant pas de protection contre les aléas de marché, vous pourriez perdre tout ou partie de votre investissement. | fr | es |
DOLFIN4040 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
The diversified, flexible and completely discretionary nature of the Fund makes an ex-ante comparison with a benchmark index impracticable. However, the performance of the Fund may be compared ex-post with the performance of capitalised EURO STR (12-month rolling average) +300 basis points.
The EURO STR (Euro Short-Term Rate) index is the result of the weighted average of all daily unsecured loan transactions made by the most active banking institutions in the Euro zone. It is calculated by the European Central Bank and published by the European Union Banking Federation. It is available at: http://www.banque-france.fr.
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### Investment strategy: | Le caractère diversifié, flexible et totalement discrétionnaire du FCP rend inapplicable une comparaison a priori avec un indicateur de référence. Toutefois la performance du FCP pourra être comparée a posteriori à la performance de l'EURO STR capitalisé (moyenne sur 12 mois glissants) + 300 points de base.
L’indice EURO STR (Euro Short Term Rate) résulte de la moyenne pondérée de toutes les transactions au jour le jour des prêts non garantis réalisées par les établissements bancaires les plus actifs de la zone euro. Il est calculé par la Banque Centrale Européenne et diffusé par la Fédération Bancaire de l’Union Européenne. Il est disponible sur le site http://www.banque- france.fr.
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### Stratégie d’investissement: | The diversified, flexible and completely discretionary nature of the Fund makes an ex-ante comparison with a benchmark index impracticable. However, the performance of the Fund may be compared ex-post with the performance of capitalised EURO STR (12-month rolling average) +300 basis points.
The EURO STR (Euro Short-Term Rate) index is the result of the weighted average of all daily unsecured loan transactions made by the most active banking institutions in the Euro zone. It is calculated by the European Central Bank and published by the European Union Banking Federation. It is available at: http://www.banque-france.fr.
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### Investment strategy: | en | fr |
DOLFIN4041 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
## Objective and Investment Policy
The Fund aims to increase the value of your investment over the long term by investing in companies with strong or improving environmental, social and governance (ESG) characteristics. The Fund invests at least two thirds of its assets in shares of large companies in Europe, including the UK, or companies that have significant operations there. The Fund may use derivatives (complex instruments) for hedging purposes and may also invest in asset classes and instruments different from those stated above. The fund manager focuses on selecting companies with strong or improving ESG characteristics, as outlined in the Fund’s ESG Investment Guidelines. Those companies will demonstrate leadership through strong ESG practices. The fund manager also aims to exclude companies that are unable to satisfy those guidelines. The Fund’s ESG Investment Guidelines are available on request and on the Columbia Threadneedle Investments website. The fund manager will use measures that compare the ESG characteristics of the Fund against the MSCI Europe Index. This index also provides a helpful benchmark against which the financial performance can be compared and has been chosen for these purposes as a good representation of large and medium-sized companies within European developed market countries (including the UK). The index is not designed to specifically consider environmental or social characteristics. The fund manager has discretion to select investments with weightings different to the index, and that are not in the index, and the Fund may display significant divergence from the index. In line with its ESG Investment Guidelines, the Fund will not invest in some sectors and companies in the index. The Fund is categorised as one that promotes environmental or social characteristics under Article 8 of the EU Regulation 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).
Income from investments in the Fund will be added to the value of your shares.
You can buy or sell shares in the Fund on any day which is a business day in Luxembourg unless the directors have decided that insufficient markets are open. You can find more detail on the investment objective and policy of the Fund in the prospectus. For more information on investment terms used in this document, please see the Glossary available at www.columbiathreadneedle.com. | ## Obiettivo e politica d'investimento
Il Fondo mira ad accrescere il valore dell'investimento nel lungo periodo investendo in società con caratteristiche ambientali, sociali e di governance (ESG) ottime o in miglioramento. Il Fondo investe almeno due terzi del patrimonio in azioni di società di grandi dimensioni in Europa, incluso il Regno Unito, o di società che ivi operano in maniera significativa. Il Fondo può utilizzare derivati (strumenti d'investimento sofisticati) a fini di copertura e può investire in classi di attività e strumenti diversi da quelli sopra riportati. Il gestore del fondo seleziona società con caratteristiche ESG ottime o in miglioramento, come indicato nelle Linee guida in materia di investimenti ESG del Fondo. Queste società devono dimostrare di adottare pratiche ESG di alto livello. Il gestore del fondo mira anche ad escludere le società che non sono in grado di soddisfare le suddette Linee guida. È possibile ottenere le Linee guida in materia di investimenti ESG del Fondo su richiesta e sul sito web Columbia Threadneedle Investments. Il gestore del fondo utilizzerà dei parametri per confrontare le caratteristiche ESG del Fondo con l'Indice MSCI Europe. Questo indice fornisce anche un utile parametro di riferimento rispetto al quale è possibile confrontare la performance finanziaria ed è stato scelto a tali fini come una buona rappresentazione delle società di grandi e medie dimensioni dei paesi europei sviluppati (compreso il Regno Unito). L'indice non è concepito tenendo specificatamente conto delle caratteristiche ambientali o sociali. Il gestore del fondo ha la facoltà di selezionare in modo discrezionale gli investimenti con coefficienti di ponderazione diversi da quelli inclusi nell'indice e non presenti nell'indice. Inoltre, il Fondo può presentare una divergenza significativa rispetto all'indice. Conformemente alle Linee guida in materia di investimenti ESG, il Fondo non investirà in alcuni settori e società dell'indice. Il Fondo è classificato come un portafoglio che promuove le caratteristiche ambientali o sociali ai sensi dell’Articolo 8 del Regolamento UE 2019/2088 relativo all'informativa sulla sostenibilità nel settore dei servizi finanziari (SFDR).
Il reddito dagli investimenti nel Fondo verrà aggiunto al valore delle vostre azioni.
Potete acquistare e vendere azioni del Fondo in qualunque giorno che corrisponda ad un giorno lavorativo in Lussemburgo, salvo laddove gli Amministratori abbiano stabilito che è aperto un numero insufficiente di mercati. Per maggiori informazioni sull'obiettivo e la politica d'investimento del Fondo, si rimanda al Prospetto. Per ulteriori informazioni sui termini di investimento utilizzati nel presente documento, si rimanda al Glossario disponibile sul sito www.columbiathreadneedle.com. | ## Objective and Investment Policy
The Fund aims to increase the value of your investment over the long term by investing in companies with strong or improving environmental, social and governance (ESG) characteristics. The Fund invests at least two thirds of its assets in shares of large companies in Europe, including the UK, or companies that have significant operations there. The Fund may use derivatives (complex instruments) for hedging purposes and may also invest in asset classes and instruments different from those stated above. The fund manager focuses on selecting companies with strong or improving ESG characteristics, as outlined in the Fund’s ESG Investment Guidelines. Those companies will demonstrate leadership through strong ESG practices. The fund manager also aims to exclude companies that are unable to satisfy those guidelines. The Fund’s ESG Investment Guidelines are available on request and on the Columbia Threadneedle Investments website. The fund manager will use measures that compare the ESG characteristics of the Fund against the MSCI Europe Index. This index also provides a helpful benchmark against which the financial performance can be compared and has been chosen for these purposes as a good representation of large and medium-sized companies within European developed market countries (including the UK). The index is not designed to specifically consider environmental or social characteristics. The fund manager has discretion to select investments with weightings different to the index, and that are not in the index, and the Fund may display significant divergence from the index. In line with its ESG Investment Guidelines, the Fund will not invest in some sectors and companies in the index. The Fund is categorised as one that promotes environmental or social characteristics under Article 8 of the EU Regulation 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).
Income from investments in the Fund will be added to the value of your shares.
You can buy or sell shares in the Fund on any day which is a business day in Luxembourg unless the directors have decided that insufficient markets are open. You can find more detail on the investment objective and policy of the Fund in the prospectus. For more information on investment terms used in this document, please see the Glossary available at www.columbiathreadneedle.com. | en | it |
DOLFIN4042 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Introduction How data is calculated and presented
This factsheet contains information about the composition of the fund at a particular point in time. It aims to help you understand how the fund manager is positioned to achieve the fund’s objectives.
The Equity Exposure table below provides an overall view of the fund. Net Equity represents - in percentage terms - how much of the fund is invested in the market. The higher the figure, the more the fund will take part in any market rises (or falls). It is important to note that Net Equity can be greater than 100% (for example if the manager is using derivative contracts).
The Long and Short Equity figures are included to show how the manager is achieving the Net Equity amount.
The definitions section at the foot of the page provides a more comprehensive explanation of the individual elements in the table.
The history chart shows how Net Equity (and its constituent parts) has changed over time.
The exposure and positioning tables on page 4 break the fund down into a number of different views, each providing a different perspective on the fund’s investments.
Portfolio composition data has been calculated and presented according to several general principles, which are listed below.
- Aggregation: all investments, including derivatives, linked to a particular issuing company have been combined to form a total percentage holding for each company. The aggregate holding is referred to in this factsheet as a position. Where a company is listed in two separate countries, each listing may be classified as a separate issuing company. Exchange Traded Funds (ETFs) and derivatives on ETFs are treated as individual securities – ie not aggregated.
- Categorisation: for investments that have underlying securities we use the attributes of the underlying issuing company or common share to determine the appropriate sector, market capitalisation band and geographic area.
- Derivatives: all derivatives are included on an exposure basis and, where necessary, are delta-adjusted. Delta-adjusting expresses derivatives in terms of the equivalent number of shares that would be needed to generate the same return.
- “Basket” securities: securities that represent a number of company shares – like index futures or options – are allocated to categories (such as sector) whenever possible. Otherwise they are included in the “Other Index / Unclassified” category. | # Introducción Cómo se calculan y se presentan los datos
Esta ficha mensual contiene información acerca de la composición del fondo en un momento determinado. Su objetivo es ayudarle a entender de qué modo pretende el gestor del fondo lograr los objetivos del mismo.
La siguiente tabla de exposición a la renta variable ofrece una visión general del fondo. La renta variable neta representa, en términos porcentuales, la medida en la que el fondo está invertido en el mercado. Cuanto más alta sea la cifra, más participará el fondo en cualquier subida (o bajada) del mercado. Es importante tener en cuenta que la renta variable neta puede ser superior al 100% (por ejemplo, si el gestor utiliza contratos de derivados).
Las cifras de posiciones largas y cortas de renta variable se incluyen para ilustrar el modo en que el gestor logra la cantidad de renta variable neta.
La sección de definiciones a pie de página ofrece una explicación más exhaustiva de los elementos individuales de la tabla.
El gráfico histórico muestra cómo la renta variable neta (y sus partes constituyentes) ha cambiado con el tiempo.
Las tablas de exposición y posicionamiento de la página 4 desglosan el fondo en diferentes visiones, cada una de las cuales ofrece una perspectiva distinta sobre sus inversiones.
Los datos sobre la composición de la cartera han sido calculados y presentados de acuerdo con varios principios generales, que se enumeran a continuación.
- Conjunto: todas las inversiones, incluidos los derivados, vinculadas a una empresa emisora concreta han sido combinadas para formar un porcentaje total de participación para cada empresa. En esta ficha se hace referencia a la participación conjunta como una posición. En el caso de que una empresa cotice en dos países distintos, cada cotización se clasificará como una empresa emisora independiente. Los Fondos cotizados en bolsa (ETF, por sus siglas en inglés) y sus derivados son tratados como valores individuales, es decir, no conjuntos.
- Categorización: para inversiones que tienen valores subyacentes, utilizamos los atributos de la empresa emisora o participación común subyacente para determinar el sector apropiado, la franja de capitalización bursátil y la zona geográfica.
- Derivados: todos los derivados se incluyen en base a la exposición y, en caso de que sea necesario, están ajustados al delta. El ajuste al delta expresa los derivados en términos del número de acciones equivalente que se necesitaría para generar el mismo rendimiento.
- Valores «cesta»: los títulos que representan varias acciones de empresas, tales como futuros u opciones sobre índices, se asignan a categorías (por ejemplo, a un sector) cuando es posible. Si no lo es, se incluyen en la categoría«Otro índice / Sin clasificación». | # Introduction How data is calculated and presented
This factsheet contains information about the composition of the fund at a particular point in time. It aims to help you understand how the fund manager is positioned to achieve the fund’s objectives.
The Equity Exposure table below provides an overall view of the fund. Net Equity represents - in percentage terms - how much of the fund is invested in the market. The higher the figure, the more the fund will take part in any market rises (or falls). It is important to note that Net Equity can be greater than 100% (for example if the manager is using derivative contracts).
The Long and Short Equity figures are included to show how the manager is achieving the Net Equity amount.
The definitions section at the foot of the page provides a more comprehensive explanation of the individual elements in the table.
The history chart shows how Net Equity (and its constituent parts) has changed over time.
The exposure and positioning tables on page 4 break the fund down into a number of different views, each providing a different perspective on the fund’s investments.
Portfolio composition data has been calculated and presented according to several general principles, which are listed below.
- Aggregation: all investments, including derivatives, linked to a particular issuing company have been combined to form a total percentage holding for each company. The aggregate holding is referred to in this factsheet as a position. Where a company is listed in two separate countries, each listing may be classified as a separate issuing company. Exchange Traded Funds (ETFs) and derivatives on ETFs are treated as individual securities – ie not aggregated.
- Categorisation: for investments that have underlying securities we use the attributes of the underlying issuing company or common share to determine the appropriate sector, market capitalisation band and geographic area.
- Derivatives: all derivatives are included on an exposure basis and, where necessary, are delta-adjusted. Delta-adjusting expresses derivatives in terms of the equivalent number of shares that would be needed to generate the same return.
- “Basket” securities: securities that represent a number of company shares – like index futures or options – are allocated to categories (such as sector) whenever possible. Otherwise they are included in the “Other Index / Unclassified” category. | en | es |
DOLFIN4043 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
As of the date hereof, owing to the current QFII/RQFII regulations and that the Funds themselves are not QFIIs/ RQFIIs, the relevant Funds may invest in QFII/RQFII Eligible Securities indirectly through equity linked products, including but not limited to equity linked notes and participatory notes issued by institutions that have obtained QFII/RQFII status (collectively referred to as "CAAPs"). The relevant Funds may also invest directly in QFII/RQFII Eligible Securities via the QFII/RQFII status of the Investment Manager.
There are rules and restrictions under current QFII/RQFII regulations including rules on investment restrictions, which are applicable to the QFII/RQFII as a whole and not only to the investments made by the relevant Funds. Investments in QFII /RQFII Eligible Securities made through institutions with QFII/RQFII status are generally subject to compliance with investment and market access restrictions applicable to each QFII/RQFII. Such rules and restrictions imposed by the Chinese government on QFIIs/RQFIIs may have an adverse effect on the Funds’ liquidity and performance.
Investors should be aware that violations of the QFII/RQFII regulations on investments arising out of activities of the QFII/RQFII could result in the revocation of or other regulatory actions, including investment in QFII/RQFII Eligible Securities or through CAAPs issued by the said QFII/RQFII made in the benefit of the relevant Funds.
- Limits on RedemptionWhere the relevant Funds are invested in China’s securities market by investing through the Investment Manager's QFII/ RQFII status, repatriation of funds from China may be subject to the QFII/RQFII regulations in effect from time to time. | A la fecha del presente documento, en virtud de la normativa vigente sobre QFII/RQFII y teniendo en cuenta que los Fondos no son QFII/RQFII, los Fondos pertinentes pueden invertir en Valores aptos a efectos de QFII/RQFII indirectamente a través de productos vinculados a la renta variable, incluyendo, entre otros, pagarés vinculados a la renta variable y pagarés de participación emitidos por entidades que hayan obtenido la condición de QFII/RQFII (denominados colectivamente “CAAP”). Los Fondos pertinentes también podrán invertir directamente en Valores aptos a efectos de QFII/RQFII en virtud de la condición de QFII/RQFII del Gestor de inversiones.
En virtud de la normativa vigente sobre QFII/RQFII, existen normas y restricciones, incluidas las normas sobre restricciones a las inversiones, que se aplican a los QFII/RQFII en su conjunto y no solo a las inversiones realizadas por los Fondos pertinentes. Las inversiones en Valores aptos a efectos de QFII/RQFII realizadas a través de entidades con condición de QFII/RQFII están generalmente sujetas al cumplimiento de las restricciones de inversión y acceso al mercado aplicables a cada QFII/RQFII. Dichas normas y restricciones impuestas por el gobierno chino a los QFII/ RQFII pueden tener un efecto adverso sobre la liquidez y la rentabilidad de los Fondos.
Los inversores deben ser conscientes de que el incumplimiento de la normativa sobre QFII/RQFII relativa a las inversiones derivadas de las actividades de los QFII/RQFII podría dar lugar a la revocación u otras acciones reguladoras, incluidas las inversiones en Valores aptos a efectos de QFII/ RQFII o a través de los CAAP emitidos por dichos QFII/RQFII realizadas en beneficio de los Fondos pertinentes.
- Límites de reembolsoCuando los Fondos pertinentes invierten en el mercado de valores de China en virtud de la condición de QFII/RQFII del Gestor de inversiones, la repatriación de los fondos desde China puede estar sujeta a la normativa sobre QFII/RQFII vigente en cada momento. | As of the date hereof, owing to the current QFII/RQFII regulations and that the Funds themselves are not QFIIs/ RQFIIs, the relevant Funds may invest in QFII/RQFII Eligible Securities indirectly through equity linked products, including but not limited to equity linked notes and participatory notes issued by institutions that have obtained QFII/RQFII status (collectively referred to as "CAAPs"). The relevant Funds may also invest directly in QFII/RQFII Eligible Securities via the QFII/RQFII status of the Investment Manager.
There are rules and restrictions under current QFII/RQFII regulations including rules on investment restrictions, which are applicable to the QFII/RQFII as a whole and not only to the investments made by the relevant Funds. Investments in QFII /RQFII Eligible Securities made through institutions with QFII/RQFII status are generally subject to compliance with investment and market access restrictions applicable to each QFII/RQFII. Such rules and restrictions imposed by the Chinese government on QFIIs/RQFIIs may have an adverse effect on the Funds’ liquidity and performance.
Investors should be aware that violations of the QFII/RQFII regulations on investments arising out of activities of the QFII/RQFII could result in the revocation of or other regulatory actions, including investment in QFII/RQFII Eligible Securities or through CAAPs issued by the said QFII/RQFII made in the benefit of the relevant Funds.
- Limits on RedemptionWhere the relevant Funds are invested in China’s securities market by investing through the Investment Manager's QFII/ RQFII status, repatriation of funds from China may be subject to the QFII/RQFII regulations in effect from time to time. | en | es |
DOLFIN4044 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
The SICAV is normally subject to a subscription tax ("taxe d' abonnement"). For Indexed sub-funds (with listed shares), the SICAV is exempted from the "taxe d'abonnement" pursuant to article 175 (e) of the 2010 Law.
The SICAV is not currently subject to any other Luxembourg taxes on income or capital gains.
While the above tax information is accurate to the best of the Board's knowledge, it is possible that a tax authority may impose new taxes (including retroactive taxes).
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##### MANAGEMENT FEES | La SICAV est normalement soumise à une taxe d’abonnement. Pour les compartiments indexés (avec actions cotées), la SICAV est exonérée de la taxe d’abonnement conformément à l’article 175(e) de la Loi de 2010.
La SICAV n'est actuellement soumise à aucun autre impôt sur le revenu ou les plus-values.
Les informations fiscales sont exactes à la connaissance du Conseil d’administration, mais il est possible que l’autorité fiscale impose de nouveaux impôts (y compris rétroactifs).
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##### FRAIS DE GESTION | The SICAV is normally subject to a subscription tax ("taxe d' abonnement"). For Indexed sub-funds (with listed shares), the SICAV is exempted from the "taxe d'abonnement" pursuant to article 175 (e) of the 2010 Law.
The SICAV is not currently subject to any other Luxembourg taxes on income or capital gains.
While the above tax information is accurate to the best of the Board's knowledge, it is possible that a tax authority may impose new taxes (including retroactive taxes).
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##### MANAGEMENT FEES | en | fr |
DOLFIN4045 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Deviating cost disclosure by distributors
If the investor is advised by third parties in the acquisition of shares or if these broker the acquisition, they might disclose costs or cost ratios to him, which are not identical to the cost disclosures in this Prospectus and in the Key Information Document, and which can exceed the total cost ratio described herein. The reason for this can be in particular that the third party additionally considers the costs for its own activity (e.g. brokerage, consulting or maintaining a depositary account). Moreover, one-off costs such as issue premiums regularly using different calculation methods or also estimates for the costs incurred at the Fund level, which include in particular the transaction costs of the Fund, might be considered by it.
Discrepancies in the cost disclosure can result regarding the information provided prior to the close of contract and regarding the regular cost information about the existing Fund investment in a permanent customer relationship. | # Abweichender Kostenausweis durch Vertriebsstellen
Wird der Anleger beim Erwerb von Anteilen durch Dritte beraten oder vermitteln diese den Kauf, weisen sie ihm gegebenenfalls Kosten oder Kostenquoten aus, die nicht mit den Kostenangaben in diesem Prospekt und in dem Basisinformationsblatt deckungsgleich sind und die hier beschriebene Gesamtkostenquote übersteigen können. Grund dafür kann insbesondere sein, dass der Dritte die Kosten seiner eigenen Tätigkeit (z.B. Vermittlung, Beratung oder Depotführung) zusätzlich berücksichtigt. Darüber hinaus berücksichtigt er gegebenenfalls auch einmalige Kosten wie Ausgabeaufschläge und benutzt in der Regel andere Berechnungsmethoden oder auch Schätzungen für die auf Fondsebene anfallenden Kosten, die insbesondere die Transaktionskosten des Fonds mit umfassen.
Abweichungen im Kostenausweis können sich sowohl bei Informationen vor Vertragsschluss ergeben als auch bei regelmäßigen Kosteninformationen über die bestehende Fondsanlage im Rahmen einer dauerhaften Kundenbeziehung. | # Deviating cost disclosure by distributors
If the investor is advised by third parties in the acquisition of shares or if these broker the acquisition, they might disclose costs or cost ratios to him, which are not identical to the cost disclosures in this Prospectus and in the Key Information Document, and which can exceed the total cost ratio described herein. The reason for this can be in particular that the third party additionally considers the costs for its own activity (e.g. brokerage, consulting or maintaining a depositary account). Moreover, one-off costs such as issue premiums regularly using different calculation methods or also estimates for the costs incurred at the Fund level, which include in particular the transaction costs of the Fund, might be considered by it.
Discrepancies in the cost disclosure can result regarding the information provided prior to the close of contract and regarding the regular cost information about the existing Fund investment in a permanent customer relationship. | en | de |
DOLFIN4046 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
The stress scenario shows what you might get back in extreme market circumstances.
Unfavourable scenario: This type of scenario occurred for an investment using the benchmark as stated in the prospectus between November 2021 and January 2023.
Moderate scenario: This type of scenario occurred for an investment using the benchmark as stated in the prospectus between April 2013 and April 2018.
Favourable scenario: This type of scenario occurred for an investment using the benchmark as stated in the prospectus between June 2016 and June 2021. | Lo scenario di stress indica quale potrebbe essere l'importo rimborsato in circostanze di mercato estreme.
Scenario sfavorevole: Questo tipo di scenario si è verificato per un investimento usando il parametro di riferimento indicato nel prospetto tra il novembre 2021 e il gennaio 2023.
Scenario moderato: Questo tipo di scenario si è verificato per un investimento usando il parametro di riferimento indicato nel prospetto tra il aprile 2013 e il aprile 2018.
Scenario favorevole: Questo tipo di scenario si è verificato per un investimento usando il parametro di riferimento indicato nel prospetto tra il giugno 2016 e il giugno 2021. | The stress scenario shows what you might get back in extreme market circumstances.
Unfavourable scenario: This type of scenario occurred for an investment using the benchmark as stated in the prospectus between November 2021 and January 2023.
Moderate scenario: This type of scenario occurred for an investment using the benchmark as stated in the prospectus between April 2013 and April 2018.
Favourable scenario: This type of scenario occurred for an investment using the benchmark as stated in the prospectus between June 2016 and June 2021. | en | it |
DOLFIN4047 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Fund Exposure (%)
## Bonds Currencies
In the last column of the tables above, positive weights indicate overweight exposures, while negative weights indicate underweight exposures. These position weights are ordered by their absolute value versus the benchmark in descending order. The ‘Bonds’ exposure under the ‘Country’ heading is classified by the currency of denomination of the bond rather than the country of domicile of the issuer and cash is excluded from the calculation. | # Exposición del Fondo (%)
## Bonos Monedas
En la última columna de las tablas de arriba, los pesos positivos indican una sobre ponderación, mientras que los pesos negativos indican una infra ponderación. Los pesos están ordenados por su valor absoluto frente al índice de referencia en orden descendiente. La exposición a 'bonos' bajo el título de 'País' se clasifica por la moneda de denominación del bono y no por el país de domicilio del emisor. El efectivo se excluye de la exposición a bonos. | # Fund Exposure (%)
## Bonds Currencies
In the last column of the tables above, positive weights indicate overweight exposures, while negative weights indicate underweight exposures. These position weights are ordered by their absolute value versus the benchmark in descending order. The ‘Bonds’ exposure under the ‘Country’ heading is classified by the currency of denomination of the bond rather than the country of domicile of the issuer and cash is excluded from the calculation. | en | es |
DOLFIN4048 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
Money market instruments including financial instruments issued or guaranteed separately or jointly by a Sovereign Eligible Issuer.
A money market instrument shall be eligible for investment by a sub-fund provided that it fulfils all of the following requirements:
- It falls within one of the categories below as in compliance with the provisions of Directive 2009/65 :
- it is listed or traded on an official stock exchange, or on a regulated market (a market that operated regularly, is recognised and is open to the public) in an eligible state (i.e. a Member State or a Third Country) ;
- it does not meet the requirements of point (a) but it is subject (at the securities or issuer level) to regulation aimed at protecting investors and savings, provided that they are:
- issued or guaranteed by a central, regional or local authority or central bank of a Member State, the European Central Bank, the European Union or the European Investment Bank, a Third Country or a member of a federation; or
- issued by an undertaking any securities of which are dealt in on regulated markets referred to in point (a);or
- issued or guaranteed by an establishment subject to, and which complies with European Unionprudential supervision rules or others rules at least considered to be stringent; or
- issued by other bodies belonging to the categories approved by the CSSF provided that the investments in such instruments are subject to investor protection equivalent to that laid down in points (i), (ii) or (iii) above, and provided that the issuer is a company whose capital and reserves amount to at least EUR 10 000 000 and which presents and publishes its annual accounts in accordance with the Directive 78/660, is an entity which, within a group of companies which includes one or several listed companies, is dedicated to the financing of the group or is an entity which is dedicated to the financing of securitisation vehicles which benefit from a banking liquidity line. | Les instruments du marché monétaire, dont les instruments financiers émis ou garantis séparément ou conjointement par un Émetteur éligible souverain.
Un instrument du marché monétaire sera éligible à l’investissement par un compartiment à condition qu’il remplisse l’ensemble des exigences suivantes :
- Il appartient à l’une des catégories ci-dessous conformément aux dispositions de la Directive 2009/65 :
- Il est coté ou négocié sur une bourse officielle ou sur un marché réglementé (un marché en fonction régulier, reconnu et ouvert au public) dans un État éligible (c.-à-d. un État membre ou un Pays tiers) ;
- il ne remplit pas les exigences mentionnées au point (a) mais il est soumis (au niveau des titres ou de l’émetteur) à une réglementation qui vise à protéger les investisseurs et l’épargne, à condition qu’ils soient :
- émis ou garantis par une autorité centrale, régionale ou locale ou la banque centrale d’un État membre, la Banque centrale européenne, l’Union européenne ou la Banque européenne d’investissement, un Pays tiers ou un membre d’une fédération ; ou
- émis par une entreprise dont les titres sont négociés sur des marchés réglementés visés au point (a) ; ou
- émis ou garantis par un établissement soumis et conforme aux règles de contrôle prudentiel de l’Union européenne ou d’autres règles au moins aussi strictes ; ou
- émis par d’autres entités appartenant aux catégories approuvées par la CSSF pour autant que les investissements dans ces instruments soient soumis à des règles de protection des investisseurs qui soient équivalentes à celles prévues aux points (i), (ii) ou (iii) ci-dessus, et que l’émetteur soit une société dont le capital et les réserves s’élèvent au moins à 10 000 000 EUR et qui présente et publie ses comptes annuels conformément à la Directive 78/660, soit une entité qui, au sein d’un groupe de sociétés incluant une ou plusieurs sociétés cotées, se consacre au financement du groupe ou soit une entité qui se consacre au financement de véhicules de titrisation bénéficiant d’une ligne de financement bancaire. | Money market instruments including financial instruments issued or guaranteed separately or jointly by a Sovereign Eligible Issuer.
A money market instrument shall be eligible for investment by a sub-fund provided that it fulfils all of the following requirements:
- It falls within one of the categories below as in compliance with the provisions of Directive 2009/65 :
- it is listed or traded on an official stock exchange, or on a regulated market (a market that operated regularly, is recognised and is open to the public) in an eligible state (i.e. a Member State or a Third Country) ;
- it does not meet the requirements of point (a) but it is subject (at the securities or issuer level) to regulation aimed at protecting investors and savings, provided that they are:
- issued or guaranteed by a central, regional or local authority or central bank of a Member State, the European Central Bank, the European Union or the European Investment Bank, a Third Country or a member of a federation; or
- issued by an undertaking any securities of which are dealt in on regulated markets referred to in point (a);or
- issued or guaranteed by an establishment subject to, and which complies with European Unionprudential supervision rules or others rules at least considered to be stringent; or
- issued by other bodies belonging to the categories approved by the CSSF provided that the investments in such instruments are subject to investor protection equivalent to that laid down in points (i), (ii) or (iii) above, and provided that the issuer is a company whose capital and reserves amount to at least EUR 10 000 000 and which presents and publishes its annual accounts in accordance with the Directive 78/660, is an entity which, within a group of companies which includes one or several listed companies, is dedicated to the financing of the group or is an entity which is dedicated to the financing of securitisation vehicles which benefit from a banking liquidity line. | en | fr |
DOLFIN4049 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
(*) Les chiffres de performances et le graphique VNI reflètent le rendement global d’un compartiment, composé des dividendes, des coupons et des éventuelles plus-values ou moins- values. Les chiffres tiennent compte des frais de gestion et autres frais récurrents, mais non des frais d’entrée et de sortie ou autres frais prévus à la souscription ou au remboursement de classes d’actions d’un compartiment. Les chiffres sont calculés avant impôts. Les performances sont calculées selon la méthode cumulative pour les périodes inférieures à un an et selon la méthode actuarielle pour les périodes supérieures à un an. Pour les actions de distribution, il est tenu compte du réinvestissement des dividendes bruts versés par le compartiment. Sauf indication contraire, les performances sont calculées dans la même devise que la VNI du compartiment. Pour les compartiments ou les classes d’actions dont la valeur nette d’inventaire est exprimée dans une autre devise que l’euro, il faut tenir compte du fait que le rendement en euro peut se voir réduit ou augmenté en fonction des fluctuations des taux de change. Il s’agit toujours de chiffres historiques basés sur les résultats du passé. Ils ne constituent en aucun cas une garantie pour les rendements à venir. Tout placement dans un fonds d’investissement comporte un risque de perte de tout ou partie du capital. Le capital et/ou le rendement ne bénéficient d’aucune garantie ou protection Source : DPAM
RISQUES
Les risques suivants pourraient avoir une incidence importante, mais ne sont pas adéquatement reflétés dans le profil de risque et de rendement affiché :
- Risque de concentration : le portefeuille du fonds est largement composé de titres de capital d'entreprises de la zone euro, ce qui peut rendre le portefeuille particulièrement sensible à l'évolution économique de l'Europe.
- Risque en matière de durabilité: est considéré comme matériel, les aspects environnementaux et/ou sociaux ne faisant pas systématiquement partie intégrante du processus de sélection d'investissement du fonds. Par conséquent, le fonds pourrait être davantage exposé à des sociétés qui causent un impact négatif en matière de durabilité. | (*) Las cifras de rentabilidad y el gráfico del VL corresponden a la rentabilidad total del subfondo, incluyendo dividendos, cupones y revalorizaciones o disminuciones del precio. Las cifras de rentabilidad tienen en cuenta las comisiones de gestión y otros costes recurrentes, pero no las comisiones y demás costes pagaderos con ocasión de la suscripción o el reembolso de participaciones. La rentabilidad se ha calculado antes de impuestos. La rentabilidad se ha calculado en términos acumulados para los periodos inferiores a un año y con criterios actuariales para los periodos superiores a un año. En el caso de las acciones de distribución, se ha tenido en cuenta la reinversión de los dividendos brutos del fondo. Salvo que se indique otra cosa, la rentabilidad se ha calculado en la misma divisa que el valor liquidativo del subfondo. En el caso de subfondos o clases de acciones cuyo valor liquidativo se exprese en cualquier otra divisa distinta del euro, se debe tener en cuenta que la rentabilidad en euros podría ser mayor o menor dependiendo de las fluctuaciones del tipo de cambio. Las rentabilidades se basan en los resultados obtenidos en el pasado y no constituyen una garantía de las rentabilidades futuras. Cualquier inversión en un fondo de inversión conlleva el riesgo de perder el capital. El capital y/o los rendimientos no están garantizados ni protegidos. Fuente: DPAM
RIESGOS
Otros riesgos que no están adecuadamente reflejados en el perfil de riesgo y remuneración mencionado en el presente son:
- Riesgo de concentración: la cartera del fondo está ampliamente constituida por títulos de capital de empresas de la zona euro, lo cual puede hacer que la cartera sea concretamente sensible a la evolución económica de Europa.
- Riesgo de sostenibilidad: se considera material, ya que los aspectos medioambientales y/o sociales no forman parte sistemáticamente del proceso de selección de inversiones del fondo. Como resultado, el fondo puede tener una mayor exposición a empresas que causan un impacto negativo en la sostenibilidad. | (*) Les chiffres de performances et le graphique VNI reflètent le rendement global d’un compartiment, composé des dividendes, des coupons et des éventuelles plus-values ou moins- values. Les chiffres tiennent compte des frais de gestion et autres frais récurrents, mais non des frais d’entrée et de sortie ou autres frais prévus à la souscription ou au remboursement de classes d’actions d’un compartiment. Les chiffres sont calculés avant impôts. Les performances sont calculées selon la méthode cumulative pour les périodes inférieures à un an et selon la méthode actuarielle pour les périodes supérieures à un an. Pour les actions de distribution, il est tenu compte du réinvestissement des dividendes bruts versés par le compartiment. Sauf indication contraire, les performances sont calculées dans la même devise que la VNI du compartiment. Pour les compartiments ou les classes d’actions dont la valeur nette d’inventaire est exprimée dans une autre devise que l’euro, il faut tenir compte du fait que le rendement en euro peut se voir réduit ou augmenté en fonction des fluctuations des taux de change. Il s’agit toujours de chiffres historiques basés sur les résultats du passé. Ils ne constituent en aucun cas une garantie pour les rendements à venir. Tout placement dans un fonds d’investissement comporte un risque de perte de tout ou partie du capital. Le capital et/ou le rendement ne bénéficient d’aucune garantie ou protection Source : DPAM
RISQUES
Les risques suivants pourraient avoir une incidence importante, mais ne sont pas adéquatement reflétés dans le profil de risque et de rendement affiché :
- Risque de concentration : le portefeuille du fonds est largement composé de titres de capital d'entreprises de la zone euro, ce qui peut rendre le portefeuille particulièrement sensible à l'évolution économique de l'Europe.
- Risque en matière de durabilité: est considéré comme matériel, les aspects environnementaux et/ou sociaux ne faisant pas systématiquement partie intégrante du processus de sélection d'investissement du fonds. Par conséquent, le fonds pourrait être davantage exposé à des sociétés qui causent un impact négatif en matière de durabilité. | fr | es |
DOLFIN4050 | 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 ?
Indicateur de risque
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Le risque réel peut varier considérablement si vous sortez du produit avant échéance et il se pourrait que vous obteniez un rendement moindre.
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.
Nous avons classé ce produit dans la classe de risque 5 sur 7, qui est une classe de risque entre moyenne et élevée. Autrement dit, les pertes potentielles liées aux futurs résultats du produit se situent à un niveau entre moyen et élevé et, si la situation venait à se détériorer sur les marchés, il est probable que la valeur de votre investissement en soit affectée.
Investir dans des sociétés étrangères implique des risques, dont le risque de change, une liquidité réduite, des marchés boursiers moins développés et une certaine instabilité politique. Le Fonds peut investir dans des produits dérivés pouvant avoir une incidence importante sur sa performance.
Veuillez consulter le Rapport annuel ou le Prospectus du produit disponible sur le site web www.alger.com pour en savoir plus sur les autres risques matériellement pertinents du produit qui ne sont pas repris dans l’indicateur synthétique de risque.
Ce produit ne prévoyant pas de protection contre les aléas de marché, vous pourriez perdre tout ou partie de votre investissement. | # ¿Qué riesgos corro y qué podría obtener a cambio?
Indicador de riesgo
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
El riesgo real puede variar considerablemente en caso de salida anticipada, por lo que es posible que recupere menos dinero.
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.
Hemos clasificado este producto en la clase de riesgo 5 en una escala de 7, en la que 5 significa un riesgo medio alto. Esta evaluación califica la posibilidad de sufrir pérdidas en rentabilidades futuras como media alta y la probabilidad de que una mala coyuntura de mercado influya en el valor de su inversión.
Las inversiones en empresas extranjeras conllevan riesgos entre los que se incluyen la exposición a las fluctuaciones de divisas, una menor liquidez, mercados de negociación menos desarrollados e inestabilidad política. El Fondo puede invertir en derivados, lo cual puede incidir en gran medida en la rentabilidad del Fondo.
Para más información sobre otros riesgos de importancia significativa para el producto que podría no reflejar adecuadamente el indicador resumido de riesgo, consulte el folleto del producto en www.alger.com.
Este producto no incluye protección alguna respecto de la rentabilidad futura del mercado, por lo que podría perder parte o la totalidad de su inversión. | # Quels sont les risques et qu’est-ce que cela pourrait me rapporter ?
Indicateur de risque
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Le risque réel peut varier considérablement si vous sortez du produit avant échéance et il se pourrait que vous obteniez un rendement moindre.
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.
Nous avons classé ce produit dans la classe de risque 5 sur 7, qui est une classe de risque entre moyenne et élevée. Autrement dit, les pertes potentielles liées aux futurs résultats du produit se situent à un niveau entre moyen et élevé et, si la situation venait à se détériorer sur les marchés, il est probable que la valeur de votre investissement en soit affectée.
Investir dans des sociétés étrangères implique des risques, dont le risque de change, une liquidité réduite, des marchés boursiers moins développés et une certaine instabilité politique. Le Fonds peut investir dans des produits dérivés pouvant avoir une incidence importante sur sa performance.
Veuillez consulter le Rapport annuel ou le Prospectus du produit disponible sur le site web www.alger.com pour en savoir plus sur les autres risques matériellement pertinents du produit qui ne sont pas repris dans l’indicateur synthétique de risque.
Ce produit ne prévoyant pas de protection contre les aléas de marché, vous pourriez perdre tout ou partie de votre investissement. | fr | es |
DOLFIN4051 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Combien de temps dois-je le conserver, et puis-je retirer de l'argent de façon anticipée?
## Période de détention recommandée: 5 ans
Le Fonds investit principalement dans des Prêts syndiqués, et dans une moindre mesure, dans d'autres titres de créance. La nature de la dette privée exige un horizon d'investissement à moyen et long terme.
Le Fonds doit avoir un jour de transaction le 1er et le 15ème jour ouvrable de chaque mois civil et la limite de souscription et de rachat doit intervenir dans les 10 jours qui précèdent les jours de transaction mentionnés. Les rachats nets sont limités à 10 % de la valeur nette d'inventaire du Fonds par jour de trans- action, calculée le jour précédant immédiatement le jour de transaction.
Pour l'impact d'un encaissement anticipé de l'apport avant la période de détention recommandée, veuillez consulter les scénarios de performance dans la section "Quels sont les risques et qu'est-ce que cela pourrait me rapporter?" ci-dessus. | # ¿Cuánto tiempo debo mantener la inversión, y puedo retirar dinero de manera anticipada?
## Periodo de mantenimiento recomendado: 5 años
El Fondo invierte principalmente en Préstamos sindicados y, en menor medida, en otros instrumentos de deuda. La naturaleza de la deuda privada requiere un horizonte de inversión de medio a largo plazo.
Los días de negociación del Fondo se celebrarán el primer y el decimoquinto día hábil de cada mes natural y el plazo de suscripción y reembolso se cerrará diez días antes del día de negociación correspondiente. Los reembolsos netos se limitan, por día de negociación, al 10 % del valor liquidativo del fondo, calculado el día de negociación inmediatamente anterior.
Para obtener más información sobre el impacto de realizar la liquidación antes de que finalice el periodo de mantenimiento recomendado, consulte los escen- arios de rentabilidad mostrados anteriormente en "¿Qué riesgos corro y qué podría obtener a cambio?". | # Combien de temps dois-je le conserver, et puis-je retirer de l'argent de façon anticipée?
## Période de détention recommandée: 5 ans
Le Fonds investit principalement dans des Prêts syndiqués, et dans une moindre mesure, dans d'autres titres de créance. La nature de la dette privée exige un horizon d'investissement à moyen et long terme.
Le Fonds doit avoir un jour de transaction le 1er et le 15ème jour ouvrable de chaque mois civil et la limite de souscription et de rachat doit intervenir dans les 10 jours qui précèdent les jours de transaction mentionnés. Les rachats nets sont limités à 10 % de la valeur nette d'inventaire du Fonds par jour de trans- action, calculée le jour précédant immédiatement le jour de transaction.
Pour l'impact d'un encaissement anticipé de l'apport avant la période de détention recommandée, veuillez consulter les scénarios de performance dans la section "Quels sont les risques et qu'est-ce que cela pourrait me rapporter?" ci-dessus. | fr | es |
DOLFIN4052 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# How long should I hold it and can I take money out early?
There is no recommended minimum holding period for this fund but investors should not view this as a short term investment. However, you can redeem your investment without penalty at any time in accordance with the fund's prospectus. | # Per quanto tempo devo detenerlo? Posso ritirare il capitale prematuramente?
Non vi è alcun periodo minimo di detenzione raccomandato per il presente fondo, tuttavia si invitano gli investitori a non considerarlo un investimento a breve termine. Tuttavia, potete riscattare il vostro investimento senza penali in qualsiasi momento in conformità con il prospetto informativo del fondo. | # How long should I hold it and can I take money out early?
There is no recommended minimum holding period for this fund but investors should not view this as a short term investment. However, you can redeem your investment without penalty at any time in accordance with the fund's prospectus. | en | it |
DOLFIN4053 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
## Benchmark disclosure
The Investment Advisor will use its discretion to invest in securities not included in the reference benchmark based on active investment management strategies and specific investment opportunities. It is foreseen that a significant percentage of the Fund's investments will be components of the reference benchmark. However, their weightings may deviate materially from those of the reference benchmark. The deviation of the Fund’s performance relative to the benchmark is monitored, but not constrained, to a defined range.
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Glossary | ## Informativa sugli indici di riferimento
Il Consulente finanziario potrà a sua discrezione investire in titoli non inclusi nell'indice di riferimento sulla base di strategie di gestione attiva degli investimenti e di specifiche opportunità d'investimento. Si prevede che una percentuale significativa degli investimenti del Fondo sarà costituita da componenti dell'indice di riferimento. Tuttavia, le loro ponderazioni potrebbero discostarsi in misura sostanziale da quelle dell'indice di riferimento. Lo scostamento della performance del Fondo rispetto all'indice di riferimento è monitorato, ma non limitato a un intervallo definito.
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Per ulteriori informazioni, si prega di contattarci Tel: +39 02 72437496. Sito web: www.assetmanagement.hsbc.com/it
Glossario | ## Benchmark disclosure
The Investment Advisor will use its discretion to invest in securities not included in the reference benchmark based on active investment management strategies and specific investment opportunities. It is foreseen that a significant percentage of the Fund's investments will be components of the reference benchmark. However, their weightings may deviate materially from those of the reference benchmark. The deviation of the Fund’s performance relative to the benchmark is monitored, but not constrained, to a defined range.
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Glossary | en | it |
DOLFIN4054 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Autres informations pertinentes
Nous sommes tenus de vous fournir d’autres documents eu égard au Fonds, tels que le prospectus le plus récent, les performances passées et les rapports annuels et intermédiaires. Ces documents et autres informations sur le produit sont disponibles en ligne sur www.nuveen.com/ucits.
Veuillez consulter notre page dédiée « daily prices » sur www.nuveen.com/ucits pour accéder aux performances passées et aux derniers scénarios de performance mensuelle du fonds. | # Otros datos de interés
Estamos obligados a facilitarle documentación adicional, por ejemplo el folleto más reciente del Fondo, la rentabilidad histórica y los informes anuales y semestrales. Puede consultar estos documentos y otra información sobre el producto visitando www.nuveen.com/ucits.
Visite nuestra página dedicada «Daily prices» en www.nuveen.com/ucits para ver la rentabilidad histórica del Fondo y los escenarios de rentabilidad mensual más recientes. | # Autres informations pertinentes
Nous sommes tenus de vous fournir d’autres documents eu égard au Fonds, tels que le prospectus le plus récent, les performances passées et les rapports annuels et intermédiaires. Ces documents et autres informations sur le produit sont disponibles en ligne sur www.nuveen.com/ucits.
Veuillez consulter notre page dédiée « daily prices » sur www.nuveen.com/ucits pour accéder aux performances passées et aux derniers scénarios de performance mensuelle du fonds. | fr | es |
DOLFIN4055 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| Investment USD 10,000 | If you exit If you exit after 5 years [the recommended holding period] after 1 year |
| --- | --- |
| Total costs | USD 720 | USD 3,500 |
| Impact on yield (yield reduction) per year | 7.7% | 4.9% | | | Inversión de 10.000 USD | En caso de salida En caso de salida después de 5 años (período de mantenimiento después de 1 año recomendado) |
| --- | --- |
| Costes totales | 720 USD | 3.500 USD |
| Impacto en el rendimiento (reducción del rendimiento) por año | 7,7% | 4,9% | | | Investment USD 10,000 | If you exit If you exit after 5 years [the recommended holding period] after 1 year |
| --- | --- |
| Total costs | USD 720 | USD 3,500 |
| Impact on yield (yield reduction) per year | 7.7% | 4.9% | | en | es |
DOLFIN4056 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Produit
Nom du produit: Invesco Euro Cash 3 Months UCITS ETF Acc
Initiateurs de PRIIP : Invesco Investment Management Limited, membre d’Invesco Group.
Groupe du fabricant de PRIIP: Invesco Ltd
ISIN: IE00B3BPCH51
Site web: www.invescomanagementcompany.ie/dub-manco Appelez le +44 (0)20 3370 1100 pour de plus amples informations.
La Central Bank of Ireland (CBI) est chargée du contrôle de Invesco Investment Management Limited en ce qui concerne ce document d’informations clés. Ce PRIIP est autorisé en Irlande.
Invesco Investment Management Limited est agréé(e) en Irlande et réglementé(e) par la Central Bank of Ireland. Ce document d'informations clés est exact au 01 janvier 2023.
Invesco Investment Management Limited en tant que gestionnaire de la Société, exercera ses droits conformément à l’article 16 de la Directive 2009/65/CE. | # Producto
Denominación del producto: Invesco Euro Cash 3 Months UCITS ETF Acc
Productor del PRIIP: Invesco Investment Management Limited, parte del Grupo Invesco.
Grupo productor del PRIIP: Invesco Ltd
ISIN: IE00B3BPCH51
Sitio web: www.invescomanagementcompany.ie/dub-manco Para más información, llame al +44 (0)20 3370 1100.
El Central Bank of Ireland (CBI) es responsable de la supervisión de Invesco Investment Management Limited en relación con este documento de datos fundamentales. Este PRIIP está autorizado en Irlanda.
Invesco Investment Management Limited está autorizado/a en Irlanda y está regulado/a por el Central Bank of Ireland. El presente Documento de Datos Fundamentales es exacto a 01 enero 2023.
Invesco Investment Management Limited, en su calidad de gestor de la Sociedad, ejercerá sus derechos con arreglo a lo dispuesto en el artículo 16 de la Directiva 2009/65/CE. | # Produit
Nom du produit: Invesco Euro Cash 3 Months UCITS ETF Acc
Initiateurs de PRIIP : Invesco Investment Management Limited, membre d’Invesco Group.
Groupe du fabricant de PRIIP: Invesco Ltd
ISIN: IE00B3BPCH51
Site web: www.invescomanagementcompany.ie/dub-manco Appelez le +44 (0)20 3370 1100 pour de plus amples informations.
La Central Bank of Ireland (CBI) est chargée du contrôle de Invesco Investment Management Limited en ce qui concerne ce document d’informations clés. Ce PRIIP est autorisé en Irlande.
Invesco Investment Management Limited est agréé(e) en Irlande et réglementé(e) par la Central Bank of Ireland. Ce document d'informations clés est exact au 01 janvier 2023.
Invesco Investment Management Limited en tant que gestionnaire de la Société, exercera ses droits conformément à l’article 16 de la Directive 2009/65/CE. | fr | es |
DOLFIN4057 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| One-off charges taken before or after you invest |
| --- |
| Entry charge | 5.00% |
| Exit charge | 3.00% |
| This is the maximum that might be taken of your money before it is invested or before proceeds of your investments are paid out. |
| Charges taken from the fund over a year |
| Ongoing charges | 0.90% |
| Charges taken from the fund under certain specific conditions |
| Performance fee | 0.00% | | | Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión |
| --- |
| Gastos de entrada | 5,00% |
| Gastos de salida | 3,00% |
| Este es el máximo que puede detraerse de su capital antes de proceder a la inversión o antes de abonar el producto de la inversión. |
| Gastos detraídos del fondo a lo largo de un año |
| Gastos corrientes | 0,90% |
| Gastos detraídos del fondo en determinadas condiciones específicas |
| Comisión de rentabilidad | 0,00% | | | One-off charges taken before or after you invest |
| --- |
| Entry charge | 5.00% |
| Exit charge | 3.00% |
| This is the maximum that might be taken of your money before it is invested or before proceeds of your investments are paid out. |
| Charges taken from the fund over a year |
| Ongoing charges | 0.90% |
| Charges taken from the fund under certain specific conditions |
| Performance fee | 0.00% | | en | es |
DOLFIN4058 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
## Investment in RMB and RMB Hedged Share Classes
The government of the PRC introduced CNH (offshore RMB) in July 2010 to encourage trade and investment with entities outside the PRC. The CNH (offshore RMB) exchange rate is a managed floating exchange rate based on market supply and demand with reference to a basket of foreign currencies and the daily trading price of the CNH (offshore RMB) against other major currencies in the inter-bank foreign exchange market is allowed to float within a narrow band around the central parity published by the PRC.
RMB is currently not freely convertible and convertibility from CNH (offshore RMB) to CNY (onshore RMB) is a managed currency process subject to foreign exchange control policies of and repatriation restrictions imposed by the government of the PRC in coordination with the Hong Kong Monetary Authority (HKMA). Under the prevailing regulations in the PRC, the value of CNH (offshore RMB) and CNY (onshore RMB) may be different due to a number of factors including without limitation those foreign exchange control policies and repatriation restrictions and therefore is subject to fluctuations. It is possible that the availability of CNH (offshore RMB) to meet redemption payments immediately may be reduced and such payments may be delayed. Such payments will be made as soon as reasonably practicable (not exceeding 10 Business Days from the relevant Dealing Day).
The CNH (offshore RMB) and CNY (onshore RMB) denominated bond markets are developing markets that are subject to regulatory restrictions imposed by the government of the PRC. These restrictions are subject to change. In extreme circumstances, Sub-Funds investing in CNH (offshore RMB) and CNY (onshore RMB) denominated bonds may incur losses due to limited investment capabilities, or may not be able to fully implement or pursue its investment objectives or strategy.
Investors in RMB hedged Share Classes are exposed to the CNH (offshore RMB) market, which allows investors to transact RMB outside of the PRC mainly with banks approved by the Hong Kong Monetary Authority in the Hong Kong market (HKMA approved banks). Investors should consider the risks that also apply to currency hedged Share Classes which can be found in this section. Investors may therefore have exposure to currencies other than the currency of their Share Class. | ## Investissement en RMB et dans des Classes d'Actions et couvertes en RMB
Le gouvernement de la RPC a introduit le CNH (RMB offshore) en juillet 2010 afin d'encourager les échanges et les investissements avec des entités situées en dehors de la RPC. Le taux de change du CNH (RMB offshore) est un taux flottant géré basé sur l'offre et la demande sur le marché par rapport à un panier de devises étrangères et le cours quotidien du CNH (RMB offshore) vis-à-vis d'autres grandes devises du marché des changes interbancaire peut fluctuer au sein d'une fourchette étroite autour de la parité centrale publiée par la RPC.
Le RMB n'est actuellement pas librement convertible et la convertibilité du CNH (RMB offshore) en CNY (RMB onshore) est un processus de change géré soumis à des politiques de contrôle des changes et à des restrictions de rapatriement imposées par le gouvernement de la RPC en coordination avec la Hong Kong Monetary Authority, (HKMA). En vertu des réglementations actuellement en vigueur en RPC, les valeurs du CNH (RMB offshore) et du CNY (RMB onshore) peuvent être différentes en raison d'un certain nombre de facteurs, notamment lesdites politiques de contrôle des changes et restrictions de rapatriement, et sont dès lors soumises à des fluctuations. La disponibilité du CNH (RMB offshore) pour répondre immédiatement aux demandes de paiements de rachats peut être limitée, retardant dès lors lesdits paiements. Ces paiements seront exécutés dès que raisonnablement possible (et en aucun cas plus de 10 Jours ouvrables suivant le Jour de négociation correspondant).
Les marchés des obligations libellées en CNH (RMB offshore) et en CNY (RMB onshore) sont des marchés en développement soumis aux restrictions réglementaires imposées par le gouvernement de la RPC. Ces restrictions sont sujettes à modification. Dans certaines circonstances extrêmes, les Compartiments qui investissent en obligations libellées en CNH (RMB offshore) et en CNY (RMB onshore) peuvent subir des pertes du fait de capacités d’investissement limitées, ou peuvent se trouver dans l’impossibilité de respecter ou d’appliquer dans leur intégralité leurs objectifs ou leur stratégi e d’investissement.
Les investisseurs dans des Classes d’Actions couvertes en RMB sont exposés au marché CNH (RMB offshore), ce qui leur permet d’échanger des RMB hors de la RPC, essentiellement avec des banques autorisées par la Hong Kong Monetary Authority sur le marché de Hong Kong (banques approuvées par la HKMA). Les investisseurs doivent prendre en compte les risques qui s’appliquent également aux Classes d’Actions couvertes en devise, détaillés dans la présente section. Les investisseurs peuvent dès lors être exposés à des devises autres que celle dans laquelle est libellée la classe d'actions. | ## Investment in RMB and RMB Hedged Share Classes
The government of the PRC introduced CNH (offshore RMB) in July 2010 to encourage trade and investment with entities outside the PRC. The CNH (offshore RMB) exchange rate is a managed floating exchange rate based on market supply and demand with reference to a basket of foreign currencies and the daily trading price of the CNH (offshore RMB) against other major currencies in the inter-bank foreign exchange market is allowed to float within a narrow band around the central parity published by the PRC.
RMB is currently not freely convertible and convertibility from CNH (offshore RMB) to CNY (onshore RMB) is a managed currency process subject to foreign exchange control policies of and repatriation restrictions imposed by the government of the PRC in coordination with the Hong Kong Monetary Authority (HKMA). Under the prevailing regulations in the PRC, the value of CNH (offshore RMB) and CNY (onshore RMB) may be different due to a number of factors including without limitation those foreign exchange control policies and repatriation restrictions and therefore is subject to fluctuations. It is possible that the availability of CNH (offshore RMB) to meet redemption payments immediately may be reduced and such payments may be delayed. Such payments will be made as soon as reasonably practicable (not exceeding 10 Business Days from the relevant Dealing Day).
The CNH (offshore RMB) and CNY (onshore RMB) denominated bond markets are developing markets that are subject to regulatory restrictions imposed by the government of the PRC. These restrictions are subject to change. In extreme circumstances, Sub-Funds investing in CNH (offshore RMB) and CNY (onshore RMB) denominated bonds may incur losses due to limited investment capabilities, or may not be able to fully implement or pursue its investment objectives or strategy.
Investors in RMB hedged Share Classes are exposed to the CNH (offshore RMB) market, which allows investors to transact RMB outside of the PRC mainly with banks approved by the Hong Kong Monetary Authority in the Hong Kong market (HKMA approved banks). Investors should consider the risks that also apply to currency hedged Share Classes which can be found in this section. Investors may therefore have exposure to currencies other than the currency of their Share Class. | en | fr |
DOLFIN4059 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
Historical data, such as is used for calculating this indicator, may not be a reliable indication of the future risk profile of this fund. There is no guarantee that the risk indicator will remain unchanged, it may shift over time. The lowest category of risk does not mean that the investment is riskfree.
This fund is in category 4 because of the behaviour of the product during the measuring period. The overall market risk, taking into account past performances and future potential evolution of the markets, associated with bonds used to reach the investment objective is considered high.
These financial instruments are impacted by various factors. These include, but are not limited to, the development of the financial market, the economic development of issuers of these financial instruments who are themselves affected by the general world economic situation and the economic and political conditions in each country. Expected credit risk, the risk of failure of the issuers of underlying investments is high. The
Sub-Fund’s liquidity risk is set to high. Liquidity risks may arise when a specific underlying investment is difficult to sell. Investments in specific theme are more concentrated than investments in various themes. No guarantee is provided as to the recovery of the initial investment. Hedging share classes, a method to try to manage specific currency risk, may lead to additional credit risk and to residual market risk depending on the effectiveness of the hedging performed. | Die zur Berechnung dieses Indikators herangezogenen historischen Daten sind kein verlässlicher Anhaltspunkt für das künftige Risikoprofil dieses Fonds. Dass der Risikoindikator unverändert bleibt, kann nicht garantiert werden, die Risikoeinstufung kann sich im Laufe der Zeit ändern. Eine Einstufung in die niedrigste Risikokategorie bedeutet nicht, dass die Anlage risikolos ist.
Aufgrund seiner Entwicklung in der Beurteilungsperiode ist dieser Fonds in die Kategorie 4 eingestuft. Unter Berücksichtigung der Wertentwicklung in der Vergangenheit und der erwarteten künftigen Entwicklung der Märkte wird das gesamte mit Anleihen verbundene Marktrisiko, das zur Erreichung des Anlageziels eingegangen wird, als hoch eingestuft.
Diese Finanzinstrumente unterliegen dem Einfluss verschiedener Faktoren. Dazu gehören u. a. die Entwicklung der Finanzmärkte sowie die wirtschaftliche Entwicklung der Emittenten dieser Finanzinstrumente. Diese sind ihrerseits von der allgemeinen Lage der Weltwirtschaft sowie den wirtschaftlichen und politischen Rahmenbedingungen des jeweiligen Landes abhängig. Das erwartete Kreditrisiko der zugrunde liegenden Anlagen, also das Risiko, dass die Emittenten zahlungsunfähig werden, ist hoch. Das Liquiditätsrisiko des Teilfonds ist hoch. Liquiditätsrisiken können entstehen, wenn eine bestimmte zugrunde liegende Anlage schwer zu verkaufen ist. Im Gegensatz zu Anlagen, die über verschiedene Themen gestreut sind, weisen Anlagen in ein bestimmtes Thema eine höhere Konzentration auf. Hinsichtlich der Wiedererlangung des ursprünglich eingesetzten Kapitals wird keine Garantie gegeben. Durch das Hedging von Anteilsklassen – eine Methode zur Steuerung bestimmter Wechselkursrisiken – kann je nach Wirksamkeit der vorgenommenen Absicherung ein zusätzliches Kreditrisiko entstehen und ein Marktrisiko verbleiben. | Historical data, such as is used for calculating this indicator, may not be a reliable indication of the future risk profile of this fund. There is no guarantee that the risk indicator will remain unchanged, it may shift over time. The lowest category of risk does not mean that the investment is riskfree.
This fund is in category 4 because of the behaviour of the product during the measuring period. The overall market risk, taking into account past performances and future potential evolution of the markets, associated with bonds used to reach the investment objective is considered high.
These financial instruments are impacted by various factors. These include, but are not limited to, the development of the financial market, the economic development of issuers of these financial instruments who are themselves affected by the general world economic situation and the economic and political conditions in each country. Expected credit risk, the risk of failure of the issuers of underlying investments is high. The
Sub-Fund’s liquidity risk is set to high. Liquidity risks may arise when a specific underlying investment is difficult to sell. Investments in specific theme are more concentrated than investments in various themes. No guarantee is provided as to the recovery of the initial investment. Hedging share classes, a method to try to manage specific currency risk, may lead to additional credit risk and to residual market risk depending on the effectiveness of the hedging performed. | en | de |
DOLFIN4060 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Derivatives
The investment process includes the use of financial contracts, whether conditional or otherwise, traded on regulated, organised or over-the-counter markets.
These are an alternative to bearer securities, especially at times of subscription/redemption flows or in specific circumstances such as major market fluctuations.
The Fund may use derivatives to overcommit its portfolio.
The Fund’s exposure to derivatives instruments will be managed in due observation of a maximum ex- ante “Value at Risk” (VaR) of 20% for up to 20 days and with a confidence interval of 99%. It will not exceed this maximum capacity. | # Instruments dérivés :
Le processus d'investissement intègre l'utilisation des contrats financiers, conditionnels ou non, négociés sur les marchés réglementés, organisés ou de gré à gré.
Ils constituent une alternative aux titres vifs notamment à l'occasion des mouvements de flux liés aux souscriptions/rachats ou en cas de circonstances particulières comme les fluctuations importantes des marchés.
Le fonds pourra utiliser les instruments dérivés afin de surengager son portefeuille.
L’engagement du fonds aux instruments financiers à terme sera géré dans le respect de la contrainte de « Value at Risk » (VaR) ex ante maximum de 20% à un horizon de 20 jours et avec un intervalle de confiance de 99%. Il n’excédera pas cette capacité d’amplification maximale. | # Derivatives
The investment process includes the use of financial contracts, whether conditional or otherwise, traded on regulated, organised or over-the-counter markets.
These are an alternative to bearer securities, especially at times of subscription/redemption flows or in specific circumstances such as major market fluctuations.
The Fund may use derivatives to overcommit its portfolio.
The Fund’s exposure to derivatives instruments will be managed in due observation of a maximum ex- ante “Value at Risk” (VaR) of 20% for up to 20 days and with a confidence interval of 99%. It will not exceed this maximum capacity. | en | fr |
DOLFIN4061 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
Furthermore, the Management Company does not remit any commission-based payments for these shares, even in case the financial intermediaries or distribution partners are not legally prohibited from receiving such payments.
The Management Company may decide at any time to accept subscriptions, conversions and redemptions from financial intermediaries or distribution partners, and alike that, by law or regulation, are ineligible to, or do not wish to, receive commission-based payments or alike;
- U
- DH
- (EUR) shares: distribution shares expressed in EUR currency and available to both private and institutional investors, whose currency risk relative to the reference currency of the sub-fund is systematically hedged and which, in principle, grant the holder the right to receive cash dividends, as described in the articles of association attached to this Prospectus. To private investors, these shares can only be offered by distribution partners rendering portfolio management and/or investment advice on an independent basis. They are also eligible for and accessible through distribution partners in countries where the receipt and retention of inducements is prohibited, as well as for distribution partners rendering non-independent investment advice and which, according to individual fee arrangements with their clients, do not receive and retain any commissions (for distribution partners in the European Union, these services are defined in the MiFID II directive). | En outre, la Société de gestion ne pratique aucun versementde commission sur ces actions, même si aucune interdiction légale ne s’oppose à ce que les intermédiaires financiers ou partenaires de distribution perçoiventde tels paiements.
La Société de gestion peut décider à tout moment d’accepter les demandes de souscription, de conversion et de rachat émanant des intermédiaires financiers oupartenaires de , ou assimilés, qui, en vertu de la loi ou de la réglementation, ne sont pas éligibles à, ou ne souhaitent pas percevoir des paiements de commission ou versements assimilés ;
- Actions U
- DH
- (EUR) : actions de distribution libellées en EUR, destinées tant aux investisseurs privés qu’institutionnels, pour lesquelles le risque de change est systématiquement couvert par rapport à la devise de référence du compartiment et qui, en théorie, confèrent à leur porteur le droit de recevoir des dividendes en numéraire, tel que décrit dans les statuts joints au Prospectus. Ces actions seront offertes aux investisseurs privés exclsuivement via des partenaires de distribution proposant des services indépendants de gestion de portefeuille et/ou de conseil en investissements. Elles sont également éligibles et accessibles par le biais de partenaires de distribution de pays dans lesquels la réception et la rétention d’avantages font l’objet d’une interdiction réglementaire ainsi que via des partenaires de distribution qui proposent des services de conseil en investissements de manière non-indépendante et qui, conformément à des accords de commission négociés individuellement avec leurs clients, ne reçoivent et ne conservent pas de commissions (pour les partenaires de distribution de l’Union européenne, ces services sont définis par la directive MiFID II). | Furthermore, the Management Company does not remit any commission-based payments for these shares, even in case the financial intermediaries or distribution partners are not legally prohibited from receiving such payments.
The Management Company may decide at any time to accept subscriptions, conversions and redemptions from financial intermediaries or distribution partners, and alike that, by law or regulation, are ineligible to, or do not wish to, receive commission-based payments or alike;
- U
- DH
- (EUR) shares: distribution shares expressed in EUR currency and available to both private and institutional investors, whose currency risk relative to the reference currency of the sub-fund is systematically hedged and which, in principle, grant the holder the right to receive cash dividends, as described in the articles of association attached to this Prospectus. To private investors, these shares can only be offered by distribution partners rendering portfolio management and/or investment advice on an independent basis. They are also eligible for and accessible through distribution partners in countries where the receipt and retention of inducements is prohibited, as well as for distribution partners rendering non-independent investment advice and which, according to individual fee arrangements with their clients, do not receive and retain any commissions (for distribution partners in the European Union, these services are defined in the MiFID II directive). | en | fr |
DOLFIN4062 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| Recommended Holding Period: 3 years Investment: CHF 10,000 |
| --- |
| Scenarios Minimum: There is no minimum guaranteed return if you exit before 3 years | If you exit after 1 year | If you exit after 3 years (recommended holding period) |
| Stress | What you might get back after costs Average return each year | 6,590 CHF -34.10% | 7,580 CHF -8.82% |
| Unfavourable | What you might get back after costs Average return each year | 8,600 CHF -14.04% | 8,720 CHF¹ -4.46%¹ |
| Moderate | What you might get back after costs Average return each year | 9,510 CHF -4.91% | 9,470 CHF² -1.80%² |
| Favourable | What you might get back after costs Average return each year | 10,260 CHF 2.63% | 9,980 CHF³ -0.08%³ | | | Período de mantenimiento recomendado: 3 años Inversión: 10.000 CHF |
| --- |
| Escenarios Mínimo: No hay un rendimiento mínimo garantizado en caso de salida antes de 3 años | En caso de salida después de 1 año | En caso de salida después de 3 años (período de mantenimiento recomendado) |
| Tensión | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 6.590 CHF -34,10% | 7.580 CHF -8,82% |
| Desfavorable | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 8.600 CHF -14,04% | 8.720 CHF¹ -4,46%¹ |
| Moderado | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 9.510 CHF -4,91% | 9.470 CHF² -1,80%² |
| Favorable | Lo que podría recibir tras deducir los costes Rendimiento medio cada año | 10.260 CHF 2,63% | 9.980 CHF³ -0,08%³ | | | Recommended Holding Period: 3 years Investment: CHF 10,000 |
| --- |
| Scenarios Minimum: There is no minimum guaranteed return if you exit before 3 years | If you exit after 1 year | If you exit after 3 years (recommended holding period) |
| Stress | What you might get back after costs Average return each year | 6,590 CHF -34.10% | 7,580 CHF -8.82% |
| Unfavourable | What you might get back after costs Average return each year | 8,600 CHF -14.04% | 8,720 CHF¹ -4.46%¹ |
| Moderate | What you might get back after costs Average return each year | 9,510 CHF -4.91% | 9,470 CHF² -1.80%² |
| Favourable | What you might get back after costs Average return each year | 10,260 CHF 2.63% | 9,980 CHF³ -0.08%³ | | en | es |
DOLFIN4063 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# Objectives and investment policy
1 The Fund's objective is to provide medium to long term capital growth.
1 The Fund will typically hold between 25-35 positions.
1 The Fund is a concentrated long-only fund which invests in shares of European companies (or companies which derive a predominant part of their revenues from activities in Europe). The Investment Manager, through the application of detailed screening criteria, seeks to invest in companies which are either established market leaders in their industries or which demonstrate a competitive advantage in new and underdeveloped markets with the majority of the portfolio invested in the former.
1 The Fund will have a Pan-European focus including the UK and will not focus on any industry or sector.
1 The Fund may actively use financial derivative instruments (ie instruments whose prices are dependent on one or more underlying assets (''FDI'')) to achieve the investment objective, for hedging against anticipated movements in a market or a security, or where it is more economically effective than directly holding the underlying asset.
1 The Portfolio will seek to outperform the MSCI Europe Index.
1 Benchmarks. The Fund is actively managed. The Fund does not intend to track the MSCI Europe Index and is not constrained by it. The Benchmark is being used by the Fund for risk management purposes to ensure that the Fund is managed in a manner consistent with its investment objective and risk profile. The investment manager will manage global exposure of the Fund {Portfolio] to within 200% of the Benchmark's value-at-risk ("VaR”). The VaR of a portfolio is a daily estimation of the maximum loss which a fund may incur over a 1 day period. The risk management function of the Investment Manager will perform additional monitoring of positions in the fund relative to weights in the benchmark. Relative weights will be assessed with reference to a threshold which may be updated from time to time. Other risk monitoring may include tracking error versus the Benchmark as well as relative sector and/or country weights versus the Benchmark. While the Fund will focus on individual issuers that may or may not belong to the Benchmark, such investment may be in different weights than those used by the Benchmark. The above factors, considered together, may influence the extent to which the Portfolio deviates from the Benchmark and such deviation may be significant. The Benchmark is also used for performance comparison purposes. | # Objetivos y política de inversión
1 El Fondo tiene como objetivo lograr la revalorización del capital a medio y largo plazo.
1 Normalmente, el Fondo mantendrá entre 25 y 35 posiciones.
1 El Fondo es un fondo long-only concentrado que invierte en acciones de empresas europeas (o empresas que obtengan una parte predominante de sus ingresos de actividades desarrolladas en Europa). La Gestora de inversiones, mediante la aplicación de criterios de selección pormenorizados, tratará de invertir en empresas que sean líderes consolidados del mercado en sus sectores de actividad o que presenten una ventaja competitiva en mercados nuevos y subdesarrollados, invirtiendo la mayor parte de la cartera en las primeras.
1 El Fondo tendrá un enfoque paneuropeo, incluido el Reino Unido, y no se centrará en ninguna industria o sector.
1 El Fondo puede utilizar de forma activa instrumentos financieros derivados («IFD», es decir, instrumentos cuyo precio dependa de uno o más activos subyacentes) para lograr el objetivo de inversión, cubrirse ante movimientos previstos en un mercado o valor, o cuando resulte económicamente más eficaz que mantener directamente el activo subyacente.
1 La Cartera pretende obtener una rentabilidad superior a la del índice MSCI Europe.
1 Índices de referencia. El Fondo se gestiona de forma activa. El Fondo no tiene previsto replicar el índice MSCI Europe y no está limitado por él. El Fondo utiliza el índice de referencia a efectos de gestión de riesgos para garantizar que el Fondo se gestione de manera acorde con su objetivo de inversión y su perfil de riesgo. El Gestor de Inversiones gestionará la exposición global del Fondo hasta el 200% del valor en riesgo («VaR») del Índice de referencia. El VaR de una cartera es una estimación diaria de la pérdida máxima en que puede incurrir un fondo en un periodo de un día. En el marco de su función de gestión de riesgos, el Gestor de inversiones realizará una supervisión adicional de las posiciones del fondo en relación con las ponderaciones del índice de referencia. Las ponderaciones relativas se evaluarán con referencia a un umbral que podrá actualizarse periódicamente. En otros controles de riesgo se encuentran el error de seguimiento en relación con el índice de referencia, así como las ponderaciones relativas de los sectores y/o países en relación con el Índice de referencia. Si bien el Fondo se centrará en emisores individuales que pueden o no pertenecer al Índice de referencia, dicha inversión puede tener | # Objectives and investment policy
1 The Fund's objective is to provide medium to long term capital growth.
1 The Fund will typically hold between 25-35 positions.
1 The Fund is a concentrated long-only fund which invests in shares of European companies (or companies which derive a predominant part of their revenues from activities in Europe). The Investment Manager, through the application of detailed screening criteria, seeks to invest in companies which are either established market leaders in their industries or which demonstrate a competitive advantage in new and underdeveloped markets with the majority of the portfolio invested in the former.
1 The Fund will have a Pan-European focus including the UK and will not focus on any industry or sector.
1 The Fund may actively use financial derivative instruments (ie instruments whose prices are dependent on one or more underlying assets (''FDI'')) to achieve the investment objective, for hedging against anticipated movements in a market or a security, or where it is more economically effective than directly holding the underlying asset.
1 The Portfolio will seek to outperform the MSCI Europe Index.
1 Benchmarks. The Fund is actively managed. The Fund does not intend to track the MSCI Europe Index and is not constrained by it. The Benchmark is being used by the Fund for risk management purposes to ensure that the Fund is managed in a manner consistent with its investment objective and risk profile. The investment manager will manage global exposure of the Fund {Portfolio] to within 200% of the Benchmark's value-at-risk ("VaR”). The VaR of a portfolio is a daily estimation of the maximum loss which a fund may incur over a 1 day period. The risk management function of the Investment Manager will perform additional monitoring of positions in the fund relative to weights in the benchmark. Relative weights will be assessed with reference to a threshold which may be updated from time to time. Other risk monitoring may include tracking error versus the Benchmark as well as relative sector and/or country weights versus the Benchmark. While the Fund will focus on individual issuers that may or may not belong to the Benchmark, such investment may be in different weights than those used by the Benchmark. The above factors, considered together, may influence the extent to which the Portfolio deviates from the Benchmark and such deviation may be significant. The Benchmark is also used for performance comparison purposes. | en | es |
DOLFIN4064 | 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 | | Si vous sortez après 1 An |
| --- | --- | --- |
| Coûts d’entrée | 5,00% maximum du montant que vous payez en concluant cet investissement. Ces coûts sont déjà inclus dans le prix que vous payez. | 500 USD |
| Coûts de sortie | 0,01 % de votre investissement avant qu’il ne vous soit payé. | 101 USD |
| Coûts récurrents |
| Frais de gestion et autres frais administratifs et d’exploitation | 1,55% de la valeur de votre investissement par an. Cette estimation se base sur les coûts réels au cours de l’année dernière. | 207 USD |
| Coûts de transaction | 0,41% 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 pour le produit. Le montant réel variera en fonction du montant que nous achetons et vendons. | 42 USD |
| Coûts accessoires prélevés sous certaines conditions |
| Commission de performance | Nous n’appliquons pas de commission de performance. | 0 USD |
| COMBIEN DE TEMPS DOIS-JE LE CONSERVER, ET PUIS-JE RETIRER DE L’ARGENT DE FAÇON ANTICIPÉE? |
| --- |
| Période de détention recommandée : | 5 Ans |
| La période de détention recommandée pour le Fonds est de 5 ans dans la mesure où le Fonds investit sur le long terme. Les investisseurs peuvent vendre leurs parts sur demande chaque Jour ouvré (tel que défini dans le Prospectus du Fonds). Pour en savoir plus sur la procédure de désinvestissement du Fonds et à quel moment un désinvestissement est possible, veuillez consulter la section « Rachats de Parts » du Prospectus du Fonds. |
COMMENT PUIS-JE FORMULER UNE RÉCLAMATION?
Si vous souhaitez porter une réclamation en lien avec le Fonds, Barings International Fund Managers (Ireland) Limited et/ou toute personne donnant des conseils sur le Fonds ou le vendant, vous pouvez nous écrire directement aux coordonnées figurant ci-dessous. Toute réclamation sera traitée conformément à nos procédures internes de traitement des réclamations.
| Site internet : | www.barings.com |
| --- | --- |
| E-mail : | [email protected] |
| Adresse postale : | 70 Sir John Rogerson's Quay, Dublin 2, Ireland |
AUTRES INFORMATIONS PERTINENTES
Vous pouvez obtenir, sans frais, des informations complémentaires sur ce Fonds, y compris l'intégralité du prospectus sur www.barings.com. Dans préjudice des examens spécifiques, le présent document d'information clé est mis à jour tous les 12 mois.
Une liste détaillée des risques associés à l'investissement dans ce produit, ainsi que les risques associés au marché dans lequel cette Société investit, est disponible sur www.barings.com.
Les derniers rapports annuel et intermédiaire de la Société, la fiche d'information mensuelle et l'intégralité des détails du portefeuille sont également disponibles sur www.barings.com, ainsi que les informations liées au levier et à la commission de gestion de la Société.
Les performances passées de ce produit sont disponibles sur barings.com ou en suivant ce lien https://api.kneip.com/v1/documentdata/permalinks/KPP_IE00BG7PJD53_fr_BE-FR-LU.pdf
Les performances passées montrent la performance du fonds comme pourcentage de perte ou de gain par année au cours des 0 dernières années.Les calculs des anciens scénarios de performance sont disponibles sur barings.com ou en suivant ce lien https://api.kneip.com/v1/documentdata/permalinks/KMS_IE00BG7PJD53_fr_BE-FR-LU.csv. | # Composición de los costes
| Costes únicos de entrada o salida | | En caso de salida después de 1 Año |
| --- | --- | --- |
| Costes de entrada | 5,00% máximo de la cantidad que usted paga al entrar en esta inversión. Estos costes ya están incluidos en el precio que paga. | 500 USD |
| Costes de salida | 0,01 % de su inversión antes de que se le pague. | 101 USD |
| Costes corrientes |
| Comisiones de gestión y otros costes administrativos o de funcionamiento | 1,55% del valor de su inversión al año. Se trata de una estimación basada en los costes reales del último año. | 207 USD |
| Costes de operación | 0,41% del valor anual de su inversión. Se trata de una estimación de los costes incurridos cuando compramos y vendemos las inversiones subyacentes al producto. El importe real variará en función de la cantidad que compremos y vendamos. | 42 USD |
| Costes accesorios detraídos en condiciones específicas | |
| Comisión de rentabilidad | No cobramos una comisión de rentabilidad | 0 USD |
| ¿CUÁNTO TIEMPO DEBO MANTENER LA INVERSIÓN, Y PUEDO RETIRAR DINERO DE MANERA ANTICIPADA? |
| --- |
| Período de mantenimiento recomendado: | 5 Años |
| El periodo de tenencia recomendado por el Fondo es de 5 año, dado que el Fondo invierte a largo plazo. Los inversores pueden vender sus acciones a petición del cliente en cada Día Hábil (según se define en el Folleto). Para más información sobre el procedimiento de desinversión del Fondo y cuándo es posible la desinversión, consulte la sección "Reembolso de acciones" del Folleto del Fondo. |
¿CÓMO PUEDO RECLAMAR?
Si tiene alguna queja relacionada con el Fondo, Barings International Fund Managers (Ireland) Limited y/o cualquier persona que esté vendiendo el Fondo o asesore sobre este, puede escribirnos directamente. Los datos de contacto se facilitan a continuación. Cualquier queja se tramitará de acuerdo con nuestros procedimientos internos de tramitación de reclamaciones.
| Sitio web: | www.barings.com |
| --- | --- |
| Correo electrónico: | [email protected] |
| Dirección postal: | 70 Sir John Rogerson's Quay, Dublin 2, Ireland |
OTROS DATOS DE INTERÉS
Puede obtener más información sobre este Fondo, incluido el folleto completo, de forma gratuita, en www.barings.com.
Sin perjuicio de que haya revisiones específicas, este Documento de Datos Fundamentales para el Inversor se actualiza al menos cada 12 meses. Está disponible una lista detallada de los riesgos asociados a la inversión en este producto, junto con los riesgos relevantes para el mercado en el que invierte esta Sociedad en www.barings.com.
Los últimos informes anuales y provisionales de la empresa, la hoja informativa mensual y los detalles completos de la cartera también están disponibles en www.barings.com, junto con la información relativa al apalancamiento y a la comisión de gestión de la Sociedad.
La rentabilidad histórica de este producto puede consultarse en barings.com o siguiendo este enlace https://api.kneip.com/v1/documentdata/permalinks/KPP_IE00BG7PJD53_es_ES.pdf
La rentabilidad histórica muestra la rentabilidad del fondo como la pérdida o ganancia porcentual anual durante los últimos 0 años.Los cálculos de los escenarios de rentabilidades anteriores pueden consultarse en barings.com o siguiendo este enlace https://api.kneip.com/v1/documentdata/permalinks/KMS_IE00BG7PJD53_es_ES.csv. | # Composition des coûts
| Coûts ponctuels à l’entrée ou à la sortie | | Si vous sortez après 1 An |
| --- | --- | --- |
| Coûts d’entrée | 5,00% maximum du montant que vous payez en concluant cet investissement. Ces coûts sont déjà inclus dans le prix que vous payez. | 500 USD |
| Coûts de sortie | 0,01 % de votre investissement avant qu’il ne vous soit payé. | 101 USD |
| Coûts récurrents |
| Frais de gestion et autres frais administratifs et d’exploitation | 1,55% de la valeur de votre investissement par an. Cette estimation se base sur les coûts réels au cours de l’année dernière. | 207 USD |
| Coûts de transaction | 0,41% 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 pour le produit. Le montant réel variera en fonction du montant que nous achetons et vendons. | 42 USD |
| Coûts accessoires prélevés sous certaines conditions |
| Commission de performance | Nous n’appliquons pas de commission de performance. | 0 USD |
| COMBIEN DE TEMPS DOIS-JE LE CONSERVER, ET PUIS-JE RETIRER DE L’ARGENT DE FAÇON ANTICIPÉE? |
| --- |
| Période de détention recommandée : | 5 Ans |
| La période de détention recommandée pour le Fonds est de 5 ans dans la mesure où le Fonds investit sur le long terme. Les investisseurs peuvent vendre leurs parts sur demande chaque Jour ouvré (tel que défini dans le Prospectus du Fonds). Pour en savoir plus sur la procédure de désinvestissement du Fonds et à quel moment un désinvestissement est possible, veuillez consulter la section « Rachats de Parts » du Prospectus du Fonds. |
COMMENT PUIS-JE FORMULER UNE RÉCLAMATION?
Si vous souhaitez porter une réclamation en lien avec le Fonds, Barings International Fund Managers (Ireland) Limited et/ou toute personne donnant des conseils sur le Fonds ou le vendant, vous pouvez nous écrire directement aux coordonnées figurant ci-dessous. Toute réclamation sera traitée conformément à nos procédures internes de traitement des réclamations.
| Site internet : | www.barings.com |
| --- | --- |
| E-mail : | [email protected] |
| Adresse postale : | 70 Sir John Rogerson's Quay, Dublin 2, Ireland |
AUTRES INFORMATIONS PERTINENTES
Vous pouvez obtenir, sans frais, des informations complémentaires sur ce Fonds, y compris l'intégralité du prospectus sur www.barings.com. Dans préjudice des examens spécifiques, le présent document d'information clé est mis à jour tous les 12 mois.
Une liste détaillée des risques associés à l'investissement dans ce produit, ainsi que les risques associés au marché dans lequel cette Société investit, est disponible sur www.barings.com.
Les derniers rapports annuel et intermédiaire de la Société, la fiche d'information mensuelle et l'intégralité des détails du portefeuille sont également disponibles sur www.barings.com, ainsi que les informations liées au levier et à la commission de gestion de la Société.
Les performances passées de ce produit sont disponibles sur barings.com ou en suivant ce lien https://api.kneip.com/v1/documentdata/permalinks/KPP_IE00BG7PJD53_fr_BE-FR-LU.pdf
Les performances passées montrent la performance du fonds comme pourcentage de perte ou de gain par année au cours des 0 dernières années.Les calculs des anciens scénarios de performance sont disponibles sur barings.com ou en suivant ce lien https://api.kneip.com/v1/documentdata/permalinks/KMS_IE00BG7PJD53_fr_BE-FR-LU.csv. | fr | es |
DOLFIN4065 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
Based on the above, CACEISconfirms that conflicts of interest are identified, managed and monitored.
The aforementioned current Conflicts of Interest Policy is available upon request from the Depositary or via the following link: : https://www.rbcits.com/en/who-we-are/caceis/disclaimer.page
The Depositary is liable to the Fund and its unitholders for any loss caused by the Depositary or by any third party to whom the custody of financial instruments held in custody has been delegated.
In the event of the loss of a financial instrument held in custody, the Depositary shall without delay return a financial instrument of the same type to the Fund or shall refund an equivalent amount. The Depositary shall not be liable according to the Law of 2010 and the applicable Regulations if it can prove that the loss is attributable to external events which are reasonably considered to be beyond its control and the consequences of which could not have been avoided despite all reasonable efforts to the contrary.
The Depositary shall also be liable to the Fund and the unitholders for any other loss suffered by them as a result of the Depositary’s negligent or intentional failure to properly fulfil its legal obligations.
The liability of the Depositary shall not be affected by any outsourcing.
Unitholders may enforce the liability of the Depositary directly or indirectly via the Fund, provided that this does not lead to a duplication of rights of recourse or to unequal treatment of unitholders. | Auf Grundlage des oben Genannten bestätigt CACEIS, dass Interessenkonflikte ermittelt, behandelt und überwacht werden.
Die vorgenannte aktuelle Richtlinie über Interessenkonflikte ist auf Nachfrage bei der Verwahrstelle oder unter folgendem Link erhältlich: https://www.rbcits.com/en/who-we-are/caceis/disclaimer.page
Die Verwahrstelle haftet gegenüber dem Fonds und dessen Anteileigentümer für den Verlust durch die Verwahrstelle oder einen Dritten, dem die Verwahrung von verwahrten Finanzinstrumenten übertragen wurde.
Bei Verlust eines verwahrten Finanzinstruments gibt die Verwahrstelle dem Fonds unverzüglich ein Finanzinstrument gleicher Art zurück oder erstattet einen entsprechenden Betrag. Die Verwahrstelle haftet gemäß dem Gesetz von 2010 sowie nach den geltenden Verordnungen nicht, wenn sie nachweisen kann, dass der Verlust auf äußere Ereignisse, die nach vernünftigem Ermessen nicht kontrolliert werden können und deren Konsequenzen trotz aller angemessenen Anstrengungen nicht hätten vermieden werden können, zurückzuführen ist.
Die Verwahrstelle haftet gegenüber dem Fonds und den Anteileigentümer auch für sämtliche sonstige Verluste, die
diese infolge einer fahrlässigen oder vorsätzlichen Nichterfüllung der gesetzlichen Verpflichtungen der Verwahrstelle erleidet.
Die Haftung der Verwahrstelle bleibt von einer etwaigen Auslagerung unberührt.
Anteileigentümer können die Haftung der Verwahrstelle unmittelbar oder mittelbar über den Fonds geltend machen, vorausgesetzt, dass dies weder zur Verdopplung von Regressansprüchen noch zur Ungleichbehandlung der Anteileigentümer führt. | Based on the above, CACEISconfirms that conflicts of interest are identified, managed and monitored.
The aforementioned current Conflicts of Interest Policy is available upon request from the Depositary or via the following link: : https://www.rbcits.com/en/who-we-are/caceis/disclaimer.page
The Depositary is liable to the Fund and its unitholders for any loss caused by the Depositary or by any third party to whom the custody of financial instruments held in custody has been delegated.
In the event of the loss of a financial instrument held in custody, the Depositary shall without delay return a financial instrument of the same type to the Fund or shall refund an equivalent amount. The Depositary shall not be liable according to the Law of 2010 and the applicable Regulations if it can prove that the loss is attributable to external events which are reasonably considered to be beyond its control and the consequences of which could not have been avoided despite all reasonable efforts to the contrary.
The Depositary shall also be liable to the Fund and the unitholders for any other loss suffered by them as a result of the Depositary’s negligent or intentional failure to properly fulfil its legal obligations.
The liability of the Depositary shall not be affected by any outsourcing.
Unitholders may enforce the liability of the Depositary directly or indirectly via the Fund, provided that this does not lead to a duplication of rights of recourse or to unequal treatment of unitholders. | en | de |
DOLFIN4066 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# WHAT IS THIS PRODUCT?
## Type
This Product is an undertaking for collective investment in transferable securities (UCITS). It is a sub-fund of BNP Paribas Funds, an open-ended investment company (société d’investissement à capital variable “SICAV”) governed by the provisions of Part I of the Luxembourg Law of 17 December 2010 (the “2010 Law”) relating to undertakings for collective investment as well as by UCITS Directive 2009/65.
## Term
This Product has no maturity date.
BNPP AM Luxembourg is not entitled to terminate the Product unilaterally. The board of directors of the SICAV has the authority to decide on the merger, split, liquidation or the closure of the sub-fund. Furthermore, the SICAV may be wound up by decision of an extraordinary general meeting of shareholders.
## Objectives
This Fund is actively managed. The benchmark Bloomberg Euro Aggregate 3-5 Years Linked is used for performance comparison only. The Fund is not benchmark constrained and its performance may deviate significantly from that of the benchmark.
The Fund seeks to increase the value of its assets over the medium term by investing in bonds and other debt instruments denominated in EUR with an average maturity that does not exceed six years.
Investment grade structured debts may represent up to 20% of the assets.
Environmental, social and governance (ESG) criteria contribute to, but are not a determining factor in, the manager's decision making. Incomes are systematically reinvested.
Investors are able to redeem on a daily basis (on Luxembourg bank business days) as described in the prospectus.
## Intended retail investors
This Product is designed for retail investors who have neither financial expertise nor any specific knowledge to understand the Product but nevertheless may bear a total capital loss. It is suited for clients who seek growth of capital. Potential investors should have an investment horizon of at least 3 years.
## Practical Information
Depositary: BNP PARIBAS, Luxembourg Branch
This key information document is prepared for the aforementioned share class and describes a sub-fund of BNP Paribas Funds. Further information about the Product is contained in the prospectus and periodical reports which are issued at the level of the SICAV. Under the 2010 Law, there is segregated liability between sub-funds, meaning that the assets of the sub-fund will not be available to meet a claim of a creditor or another third-party made against another sub-fund.
Investors may switch between sub-funds of the SICAV. Please see the prospectus or contact your financial adviser for details.
Further information about the Product including the latest prospectus, Articles of Association, key information document, net asset values, latest published prices of share(s), periodical report, investment description, may be obtained free of cost, in English, from BNPP AM Luxembourg or online at https://www.bnpparibas-am.com. | # UM WELCHE ART VON PRODUKT HANDELT ES SICH?
## Art
Dieses Produkt ist ein Organismus für gemeinsame Anlagen in Wertpapieren (OGAW). Es ist ein Teilfonds von BNP Paribas Funds, einer offenen Investmentgesellschaft (Société d'Investissement à Capital variable, „SICAV“), die den Bestimmungen von Teil I des Gesetzes von 17. Dezember 2010 über Organismen für gemeinsame Anlagen sowie der OGAW-Richtlinie 2009/65 unterliegt.
## Laufzeit
Dieses Produkt hat kein Fälligkeitsdatum.
BNP PARIBAS ASSET MANAGEMENT Luxembourg ist nicht zu einer einseitigen Kündigung des Produkts berechtigt. Der Verwaltungsrat ist befugt, über die Zusammenlegung, Aufteilung, Liquidation oder Schließung des Teilfonds zu entscheiden. Darüber hinaus kann die SICAV durch Beschluss einer außerordentlichen Hauptversammlung der Anteilinhaber aufgelöst werden.
## Ziele
Der Fonds wird aktiv verwaltet. Der Referenzindex Bloomberg Euro Aggregate 3-5 Years Linked wird nur für den Vergleich der Wertentwicklung verwendet. Der Fonds ist benchmarkunabhängig und seine Wertentwicklung kann erheblich von der des Referenzindex abweichen.
Ziel des Fonds ist die mittelfristige Wertsteigerung seiner Vermögenswerte durch Anlagen in auf EUR lautenden Anleihen und anderen Schuldinstrumenten mit einer durchschnittlichen Laufzeit von maximal sechs Jahren.
Strukturierte Investment-Grade-Schuldtitel können bis zu 20 % der Vermögenswerte ausmachen.
ESG-Kriterien (Umwelt, Soziales und Unternehmensführung) tragen zur Entscheidungsfindung des Managers bei, sind aber kein ausschlaggebender Faktor. Die Erträge werden grundsätzlich reinvestiert.
Anleger können ihre Anteile täglich (an Bankarbeitstagen in Luxemburg) zurückgeben, wie im Verkaufsprospekt beschrieben.
## Kleinanleger-Zielgruppe
Dieses Produkt ist für Kleinanleger konzipiert, die weder über Finanzexpertise noch über spezifische Kenntnisse verfügen, um das Produkt zu verstehen, aber dennoch einen vollständigen Kapitalverlust verkraften können. Es ist für Kunden geeignet, die Kapitalwachstum anstreben. Potenzielle Anleger sollten einen Anlagehorizont von mindestens 3 Jahren haben.
## Praktische Informationen
Verwahrstelle: BNP PARIBAS, Luxembourg Branch
Dieses Basisinformationsblatt wurde für die oben genannte Anteilsklasse erstellt und beschreibt einen Teilfonds des BNP Paribas Funds Fonds. Weitere Informationen über das Produkt sind im Prospekt und in den regelmäßigen Berichten enthalten, die auf der Ebene der SICAV herausgegeben werden. Nach luxemburgischem Recht haften die Teilfonds getrennt voneinander, d. h. die Vermögenswerte eines Teilfonds können nicht dazu verwendet werden, die Ansprüche eines Gläubigers oder einer dritten Partei gegenüber einem anderen Teilfonds zu erfüllen.
Anleger können Anteile zwischen den Teilfonds der SICAVs umschichten. Einzelheiten hierzu erfahren Sie im Verkaufsprospekt oder von Ihrem Finanzberater. Weitere Informationen zum Produkt, einschließlich des aktuellen Prospekts, des Basisinformationsblatts, der Nettoinventarwerte, der zuletzt veröffentlichten Anteilspreise, des Jahresberichts und der Anlagebeschreibung sind kostenfrei in englischer Sprache bei BNP PARIBAS ASSET MANAGEMENT Luxembourg oder online unter www.bnpparibas-am.com erhältlich. | # WHAT IS THIS PRODUCT?
## Type
This Product is an undertaking for collective investment in transferable securities (UCITS). It is a sub-fund of BNP Paribas Funds, an open-ended investment company (société d’investissement à capital variable “SICAV”) governed by the provisions of Part I of the Luxembourg Law of 17 December 2010 (the “2010 Law”) relating to undertakings for collective investment as well as by UCITS Directive 2009/65.
## Term
This Product has no maturity date.
BNPP AM Luxembourg is not entitled to terminate the Product unilaterally. The board of directors of the SICAV has the authority to decide on the merger, split, liquidation or the closure of the sub-fund. Furthermore, the SICAV may be wound up by decision of an extraordinary general meeting of shareholders.
## Objectives
This Fund is actively managed. The benchmark Bloomberg Euro Aggregate 3-5 Years Linked is used for performance comparison only. The Fund is not benchmark constrained and its performance may deviate significantly from that of the benchmark.
The Fund seeks to increase the value of its assets over the medium term by investing in bonds and other debt instruments denominated in EUR with an average maturity that does not exceed six years.
Investment grade structured debts may represent up to 20% of the assets.
Environmental, social and governance (ESG) criteria contribute to, but are not a determining factor in, the manager's decision making. Incomes are systematically reinvested.
Investors are able to redeem on a daily basis (on Luxembourg bank business days) as described in the prospectus.
## Intended retail investors
This Product is designed for retail investors who have neither financial expertise nor any specific knowledge to understand the Product but nevertheless may bear a total capital loss. It is suited for clients who seek growth of capital. Potential investors should have an investment horizon of at least 3 years.
## Practical Information
Depositary: BNP PARIBAS, Luxembourg Branch
This key information document is prepared for the aforementioned share class and describes a sub-fund of BNP Paribas Funds. Further information about the Product is contained in the prospectus and periodical reports which are issued at the level of the SICAV. Under the 2010 Law, there is segregated liability between sub-funds, meaning that the assets of the sub-fund will not be available to meet a claim of a creditor or another third-party made against another sub-fund.
Investors may switch between sub-funds of the SICAV. Please see the prospectus or contact your financial adviser for details.
Further information about the Product including the latest prospectus, Articles of Association, key information document, net asset values, latest published prices of share(s), periodical report, investment description, may be obtained free of cost, in English, from BNPP AM Luxembourg or online at https://www.bnpparibas-am.com. | en | de |
DOLFIN4067 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
###### RISQUE DE LIQUIDITÉ
Le risque de liquidité désigne le risque que la Société ne puisse pas générer suffisamment de liquidités pour régler l’intégralité de ses obligations à leur échéance ou qu’elle ne puisse le faire qu’en des termes particulièrement désavantageux.
La Société est exposée au règlement quotidien d’appels de marge sur des instruments dérivés et aux rachats quotidiens en numéraire d’actions de participation rachetables. C’est pourquoi chaque Compartiment investit la majeure partie de ses actifs dans des investissements négociés sur un marché actif et qui peuvent aisément être cédés ; il n’investit qu’une proportion limitée de ses actifs dans des investissements qui ne sont pas négociés activement sur une Bourse de valeurs. Les titres cotés de chaque Compartiment sont considérés comme aisément réalisables puisqu’ils sont cotés sur un marché réglementé.
Les Gestionnaires de portefeuille utilisent des instruments dérivés et des titres de créance, s’ils l’estiment approprié, tels que les contrats à terme standardisés sur indices négociés en Bourse, pour générer une exposition aux marchés tout en conservant une liquidité suffisante.
Lorsqu’un Compartiment achète des titres sur les marchés de gré à gré, rien ne garantit qu’il sera en mesure de réaliser la juste valeur de ces titres en raison de leur tendance à avoir une liquidité limitée et une volatilité des prix comparativement élevée.
La Société a la capacité d’emprunter à court terme pour assurer le règlement de ses opérations. Une facilité de découvert est en place et a été utilisée à des fins de liquidité des règlements. Le Dépositaire sera habilité à utiliser les liquidités disponibles sur le compte numéraire du Compartiment et à liquider les titres détenus sur le compte-titres du Compartiment selon les besoins pour respecter les obligations de ce dernier relatives à toute facilité de découvert et/ ou montants impayés.
Les actifs et passifs financiers de la Société sont détenus à des fins de négociation et sont acquis principalement aux fins d’une vente à court terme. Étant donné qu’il n’est pas prévu de conserver ces titres jusqu’à leur échéance ou clôture, la valeur de marché actuelle représente le flux de trésorerie estimé qui peut être requis pour revendre ces titres. Les flux de trésorerie futurs des Compartiments et les passifs réalisés peuvent s’écarter des passifs actuels selon l’évolution des conditions de marché.
Tous les passifs financiers sont réalisables dans un délai de trois mois à l’exception des passifs indiqués dans les tableaux de la présente note.
Les swaps et autres instruments dérivés doivent être présentés dans les tableaux ci-dessous sur la base de leur date d’échéance contractuelle, qui peut être « supérieure à 1 an ». Toutefois, dans la mesure où les swaps et autres instruments dérivés sont détenus à des fins de négociation, les Gestionnaires de portefeuille respectifs peuvent opter pour un règlement anticipé, en fonction des conditions du marché. | ##### RIESGO DE LIQUIDEZ
El riesgo de liquidez es el riesgo de que la Sociedad no sea capaz de generar suficientes recursos de capital para atender la totalidad de sus obligaciones al vencimiento, o solamente pueda hacerlo en condiciones sustancialmente desfavorables.
La Sociedad está expuesta a la liquidación diaria de los márgenes de garantía de instrumentos derivados y a los reembolsos de efectivo diarios de acciones participativas reembolsables. Por tanto, cada Fondo destina la mayoría de sus activos a inversiones negociadas en un mercado activo y pueden venderse fácilmente; solamente invierte una parte limitada de sus activos en inversiones no negociadas activamente en un mercado cotizado. Los valores cotizados de cada Fondo se consideran fácilmente materializables, ya que cotizan en una bolsa de valores regulada.
Las Gestoras de inversiones utilizan instrumentos derivados y valores de deuda, en su caso, como contratos de futuros sobre índices cotizados en bolsa para obtener exposición a los mercados, al tiempo que mantienen una liquidez suficiente.
Cuando un Fondo adquiere valores en mercados extrabursátiles, no es seguro que pueda realizar el valor razonable de dichos valores, debido a la tendencia de estos mercados a una liquidez limitada y a una volatilidad de precios comparativamente alta.
La Sociedad está facultada para endeudarse a corto plazo para garantizar la liquidación. Existe una facilidad de descubierto disponible que se ha utilizado con fines de liquidez para el pago. El Depositario tendrá derecho a utilizar el efectivo disponible en la cuenta del Fondo y a liquidar valores de la cuenta, según sea necesario para cumplir con las obligaciones del Fondo en relación con la disponibilidad de una facilidad de descubierto del Fondo y / o cantidades no pagadas.
Los activos y pasivos financieros de la Sociedad se mantienen para su negociación y se adquieren principalmente con el propósito de venderse en el corto plazo. Dado que no se espera mantener estos valores hasta el vencimiento o terminación, el valor de mercado actual representa el flujo de efectivo estimado que podría ser necesario para enajenar los valores. Los flujos de efectivo futuros de los Fondos y los pasivos materializados pueden diferir de los pasivos actuales dependiendo de los cambios en las condiciones del mercado.
Todos los pasivos financieros son materializables en un plazo de tres meses, salvo los indicados en las tablas con esta nota.
Los swaps y otros instrumentos derivados estarán sujetos a su comunicación en las tablas siguientes con arreglo a las fechas de liquidación de los vencimientos contractuales, que pueden ser de «más de 1 año». Sin embargo, dado que los swaps y otros instrumentos derivados se mantienen con fines de negociación, las Gestoras de inversiones respectivas pueden optar por una liquidación anticipada, en función de las condiciones del mercado. | ###### RISQUE DE LIQUIDITÉ
Le risque de liquidité désigne le risque que la Société ne puisse pas générer suffisamment de liquidités pour régler l’intégralité de ses obligations à leur échéance ou qu’elle ne puisse le faire qu’en des termes particulièrement désavantageux.
La Société est exposée au règlement quotidien d’appels de marge sur des instruments dérivés et aux rachats quotidiens en numéraire d’actions de participation rachetables. C’est pourquoi chaque Compartiment investit la majeure partie de ses actifs dans des investissements négociés sur un marché actif et qui peuvent aisément être cédés ; il n’investit qu’une proportion limitée de ses actifs dans des investissements qui ne sont pas négociés activement sur une Bourse de valeurs. Les titres cotés de chaque Compartiment sont considérés comme aisément réalisables puisqu’ils sont cotés sur un marché réglementé.
Les Gestionnaires de portefeuille utilisent des instruments dérivés et des titres de créance, s’ils l’estiment approprié, tels que les contrats à terme standardisés sur indices négociés en Bourse, pour générer une exposition aux marchés tout en conservant une liquidité suffisante.
Lorsqu’un Compartiment achète des titres sur les marchés de gré à gré, rien ne garantit qu’il sera en mesure de réaliser la juste valeur de ces titres en raison de leur tendance à avoir une liquidité limitée et une volatilité des prix comparativement élevée.
La Société a la capacité d’emprunter à court terme pour assurer le règlement de ses opérations. Une facilité de découvert est en place et a été utilisée à des fins de liquidité des règlements. Le Dépositaire sera habilité à utiliser les liquidités disponibles sur le compte numéraire du Compartiment et à liquider les titres détenus sur le compte-titres du Compartiment selon les besoins pour respecter les obligations de ce dernier relatives à toute facilité de découvert et/ ou montants impayés.
Les actifs et passifs financiers de la Société sont détenus à des fins de négociation et sont acquis principalement aux fins d’une vente à court terme. Étant donné qu’il n’est pas prévu de conserver ces titres jusqu’à leur échéance ou clôture, la valeur de marché actuelle représente le flux de trésorerie estimé qui peut être requis pour revendre ces titres. Les flux de trésorerie futurs des Compartiments et les passifs réalisés peuvent s’écarter des passifs actuels selon l’évolution des conditions de marché.
Tous les passifs financiers sont réalisables dans un délai de trois mois à l’exception des passifs indiqués dans les tableaux de la présente note.
Les swaps et autres instruments dérivés doivent être présentés dans les tableaux ci-dessous sur la base de leur date d’échéance contractuelle, qui peut être « supérieure à 1 an ». Toutefois, dans la mesure où les swaps et autres instruments dérivés sont détenus à des fins de négociation, les Gestionnaires de portefeuille respectifs peuvent opter pour un règlement anticipé, en fonction des conditions du marché. | fr | es |
DOLFIN4068 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# CO-MANAGEMENT AND POOLING
To ensure effective management of the Company, the Directors may, to the extent permitted by applicable laws and regulations, decide to manage all or part of the assets of one or more Funds with those of other Funds in the Company (so-called “pooling”) or, where applicable, to co-manage all or part of the assets, except for a cash reserve, if necessary, of one or more Funds with the assets of other Luxembourg investment funds or of one or more funds of other Luxembourg investment funds (hereinafter referred to as the “Party(ies) to the co-managed assets”) for which the Company’s Depositary is the appointed custodian bank. These assets will be managed in accordance with the respective investment policies of the Parties to the co-managed assets, each of which is pursuing identical or comparable objectives. Parties to the co-managed assets will only participate in co-managed assets which are in accordance with the stipulations of their respective Prospectuses and investment restrictions.
Each Party to the co-managed assets will participate in the co-managed assets in proportion to the assets it has contributed to the co-management. Assets will be allocated to each Party to the co-managed assets in proportion to its contribution to the co-managed assets. Each Party’s rights to the co-managed assets apply to each line of investment in the said co-managed assets. The aforementioned co-managed assets will be formed by the transfer of cash or, where applicable, other assets from each of the Parties participating in the co-managed assets. Thereafter, the Directors may regularly make subsequent transfers to the co-managed assets. The assets can also be transferred back to a Party to the co-managed assets for an amount not exceeding the participation of the said Party to the co-managed assets. Dividends, interest and other distributions deriving from income generated by the co-managed assets will accrue to each Party to the co-managed assets in proportion to its respective investment. Such income may be kept by the Party to the co-managed assets or reinvested in the co-managed assets. All charges and expenses incurred in respect of the co- managed assets will be applied to these assets. Such charges and expenses will be allocated to each Party to the co- managed assets in proportion to its respective entitlement to the co-managed assets.
In the case of an infringement of the investment restrictions affecting a Fund of the Company, when such a Fund takes part in co-management and even if the Investment Manager has complied with the investment restrictions applicable to the co-managed assets in question, the Investment Manager shall reduce the investment in question in proportion to the participation of the Fund concerned in the co-managed assets or, where applicable, reduce its participation in the co- managed assets to a level that respects the investment restrictions of the Fund.
When the Company is liquidated or when the Directors of the Company decide to withdraw the participation of the Company or a Fund of the Company from co-managed assets, the co-managed assets will be allocated to the Parties to the co-managed assets in proportion to their respective participation in the co-managed assets.
The investor must be aware of the fact that such co-managed assets are employed solely to ensure effective management in as much as all Parties to the co-managed assets have the same custodian bank. Co-managed assets are not distinct legal entities and are not directly accessible to investors. However, the portion of assets and liabilities attributable to each Fund of the Company will be constantly identifiable.
- | # GEMEINSAME VERWALTUNG UND ZUSAMMENLEGUNG
Zur Sicherstellung einer effizienten Verwaltung der Gesellschaft kann der Verwaltungsrat, soweit die geltenden Rechtsvorschriften dies zulassen, entscheiden, alle oder einen Teil der Vermögenswerte eines oder mehrerer Fonds mit den Vermögenswerten anderer Fonds der Gesellschaft zusammenzulegen (auch „Pooling“ genannt) oder gegebenenfalls alle oder einen Teil der Vermögenswerte eines oder mehrerer Fonds – gegebenenfalls mit Ausnahme einer Barreserve – zusammen mit den Vermögenswerten anderer luxemburgischer Anlagefonds oder eines oder mehrerer Fonds anderer luxemburgischer Anlagefonds (in weiterer Folge „Partei(en) der gemeinsam verwalteten Vermögenswerte“), für die die Verwahrstelle der Gesellschaft die ernannte Depotbank ist, vollständig oder teilweise gemeinsam zu verwalten. Diese Vermögenswerte werden gemäß den jeweiligen Anlagerichtlinien der Parteien der gemeinsam verwalteten Vermögenswerte, die identische oder vergleichbare Ziele zu verfolgen haben, verwaltet. Jede Partei der gemeinsam verwalteten Vermögenswerte wird sich nur an einer gemeinsamen Verwaltung beteiligen, die den Bestimmungen ihrer jeweiligen Prospekte und Anlagebeschränkungen entsprechen.
Jede Partei der gemeinsam verwalteten Vermögenswerte wird sich an der gemeinsamen Verwaltung im Verhältnis der Vermögenswerte der von ihr in die gemeinsame Verwaltung eingebrachten Vermögenswerte beteiligen. Die Vermögenswerte werden jeder Partei der gemeinsam verwalteten Vermögenswerte im Verhältnis zu ihrem Beitrag zu den gemeinsam verwalteten Vermögenswerten zugeteilt. Die Rechte jeder Partei auf die gemeinsam verwalteten Vermögenswerte beziehen sich auf jede Anlagekategorie der besagten gemeinsam verwalteten Vermögenswerte. Für die gemeinsame Verwaltung von Vermögenswerten übertragen die Parteien Barmittel oder gegebenenfalls andere Vermögenswerte. In der Folge kann der Verwaltungsrat regelmäßig weitere Barmittel oder gegebenenfalls andere Vermögenswerte an die gemeinsam verwalteten Vermögenswerte übertragen. Die Vermögenswerte können auch an eine Partei der gemeinsam verwalteten Vermögenswerte übertragen werden, wobei der Betrag nicht höher sein darf als die Beteiligung der betreffenden Partei an den gemeinsamen verwalteten Vermögenswerten. Dividenden, Zinsen und andere Ausschüttungen, die auf Erträgen der gemeinsam verwalteten Vermögenswerte beruhen, fließen jeder Partei der gemeinsam verwalteten Vermögenswerte in dem Verhältnis ihrer jeweiligen Anlage zu. Diese Erträge können von der Partei der gemeinsam verwalteten Vermögenswerte einbehalten oder in die gemeinsam verwalteten Vermögenswerte investiert werden. Alle Gebühren und Aufwendungen, die im Zusammenhang mit den gemeinsam verwalteten Vermögenswerten entstehen, beziehen sich auf diese Vermögenswerte. Sie werden jeder Partei der gemeinsam verwalteten Vermögenswerte im Verhältnis zu ihrem Anspruch auf die gemeinsam verwalteten Vermögenswerte zugeschrieben.
Bei einem Verstoß gegen die Anlagebeschränkungen, der einen Fonds der Gesellschaft betrifft, der an einer gemeinsamen Verwaltung von Vermögenswerten beteiligt ist, hat der Anlageverwalter – selbst wenn er die Anlagebeschränkungen für die gemeinsam verwalteten Vermögenswerte eingehalten hat – die Anlage im Verhältnis zur Beteiligung des Fonds an den gemeinsam verwalteten Vermögenswerten zu verringern oder die Beteiligung an den gemeinsam verwalteten Vermögenswerten gegebenenfalls so weit zu reduzieren, dass die Anlagebeschränkungen des Fonds eingehalten werden.
Wenn die Gesellschaft abgewickelt wird oder der Verwaltungsrat beschließt, die Vermögenswerte der Gesellschaft oder eines ihrer Fonds von den gemeinsam verwalteten Vermögenswerten abzuziehen, werden die gemeinsam verwalteten Vermögenswerte den Parteien der gemeinsam verwalteten Vermögenswerte im Verhältnis ihrer jeweiligen Beteiligung zugeteilt.
Anleger werden auf die Tatsache hingewiesen, dass die gemeinsame Verwaltung von Vermögenswerten ausschließlich dazu dient, durch die Verwendung einer einzigen Depotbank eine effiziente Verwaltung sicherzustellen. Gemeinsam verwaltete Vermögenswerte sind keine gesonderten Rechtspersonen und für Anleger nicht direkt zugänglich. Dennoch ist der den einzelnen Fonds der Gesellschaft zuzuschreibende Anteil der Vermögenswerte und Verbindlichkeiten stets feststellbar.
- | # CO-MANAGEMENT AND POOLING
To ensure effective management of the Company, the Directors may, to the extent permitted by applicable laws and regulations, decide to manage all or part of the assets of one or more Funds with those of other Funds in the Company (so-called “pooling”) or, where applicable, to co-manage all or part of the assets, except for a cash reserve, if necessary, of one or more Funds with the assets of other Luxembourg investment funds or of one or more funds of other Luxembourg investment funds (hereinafter referred to as the “Party(ies) to the co-managed assets”) for which the Company’s Depositary is the appointed custodian bank. These assets will be managed in accordance with the respective investment policies of the Parties to the co-managed assets, each of which is pursuing identical or comparable objectives. Parties to the co-managed assets will only participate in co-managed assets which are in accordance with the stipulations of their respective Prospectuses and investment restrictions.
Each Party to the co-managed assets will participate in the co-managed assets in proportion to the assets it has contributed to the co-management. Assets will be allocated to each Party to the co-managed assets in proportion to its contribution to the co-managed assets. Each Party’s rights to the co-managed assets apply to each line of investment in the said co-managed assets. The aforementioned co-managed assets will be formed by the transfer of cash or, where applicable, other assets from each of the Parties participating in the co-managed assets. Thereafter, the Directors may regularly make subsequent transfers to the co-managed assets. The assets can also be transferred back to a Party to the co-managed assets for an amount not exceeding the participation of the said Party to the co-managed assets. Dividends, interest and other distributions deriving from income generated by the co-managed assets will accrue to each Party to the co-managed assets in proportion to its respective investment. Such income may be kept by the Party to the co-managed assets or reinvested in the co-managed assets. All charges and expenses incurred in respect of the co- managed assets will be applied to these assets. Such charges and expenses will be allocated to each Party to the co- managed assets in proportion to its respective entitlement to the co-managed assets.
In the case of an infringement of the investment restrictions affecting a Fund of the Company, when such a Fund takes part in co-management and even if the Investment Manager has complied with the investment restrictions applicable to the co-managed assets in question, the Investment Manager shall reduce the investment in question in proportion to the participation of the Fund concerned in the co-managed assets or, where applicable, reduce its participation in the co- managed assets to a level that respects the investment restrictions of the Fund.
When the Company is liquidated or when the Directors of the Company decide to withdraw the participation of the Company or a Fund of the Company from co-managed assets, the co-managed assets will be allocated to the Parties to the co-managed assets in proportion to their respective participation in the co-managed assets.
The investor must be aware of the fact that such co-managed assets are employed solely to ensure effective management in as much as all Parties to the co-managed assets have the same custodian bank. Co-managed assets are not distinct legal entities and are not directly accessible to investors. However, the portion of assets and liabilities attributable to each Fund of the Company will be constantly identifiable.
- | en | de |
DOLFIN4069 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# WHAT IS THIS PRODUCT?
## Type
This Product is an undertaking for collective investment in transferable securities (UCITS). It is a sub-fund of BNP Paribas Funds, an open-ended investment company (société d’investissement à capital variable “SICAV”) governed by the provisions of Part I of the Luxembourg Law of 17 December 2010 (the “2010 Law”) relating to undertakings for collective investment as well as by UCITS Directive 2009/65.
## Term
This Product has no maturity date.
BNPP AM Luxembourg is not entitled to terminate the Product unilaterally. The board of directors of the SICAV has the authority to decide on the merger, split, liquidation or the closure of the sub-fund. Furthermore, the SICAV may be wound up by decision of an extraordinary general meeting of shareholders.
## Objectives
The Fund is actively managed and as such may invest in securities that are not included in the index which is JPM EMBI Global Diversified (RI). The benchmark is used for performance comparison only. The Fund is not benchmark constrained and its performance may derivate significantly from that of the benchmark.
The Fund seeks to increase the value of its assets over the medium term by investing in bonds and/or other debt instruments issued by emerging countries and/or companies from emerging countries or companies operating in these countries.
After hedging, the exposure to currencies other than USD may not exceed 5%.
Environmental, social and governance (ESG) criteria contribute to, but are not a determining factor in, the manager's decision making. Incomes are systematically reinvested.
Investors are able to redeem on a daily basis (on Luxembourg bank business days) as described in the prospectus.
## Intended retail investors
This Product is designed for retail investors who have neither financial expertise nor any specific knowledge to understand the Product but nevertheless may bear a total capital loss. It is suited for clients who seek growth of capital. Potential investors should have an investment horizon of at least 4 years.
## Practical Information
Depositary: BNP PARIBAS, Luxembourg Branch
This key information document is prepared for the aforementioned share class and describes a sub-fund of BNP Paribas Funds. Further information about the Product is contained in the prospectus and periodical reports which are issued at the level of the SICAV. Under the 2010 Law, there is segregated liability between sub-funds, meaning that the assets of the sub-fund will not be available to meet a claim of a creditor or another third-party made against another sub-fund.
Investors may switch between sub-funds of the SICAV. Please see the prospectus or contact your financial adviser for details.
Further information about the Product including the latest prospectus, Articles of Association, key information document, net asset values, latest published prices of share(s), periodical report, investment description, may be obtained free of cost, in English, from BNPP AM Luxembourg or online at https://www.bnpparibas-am.com. | # UM WELCHE ART VON PRODUKT HANDELT ES SICH?
## Art
Dieses Produkt ist ein Organismus für gemeinsame Anlagen in Wertpapieren (OGAW). Es ist ein Teilfonds von BNP Paribas Funds, einer offenen Investmentgesellschaft (Société d'Investissement à Capital variable, „SICAV“), die den Bestimmungen von Teil I des Gesetzes von 17. Dezember 2010 über Organismen für gemeinsame Anlagen sowie der OGAW-Richtlinie 2009/65 unterliegt.
## Laufzeit
Dieses Produkt hat kein Fälligkeitsdatum.
BNP PARIBAS ASSET MANAGEMENT Luxembourg ist nicht zu einer einseitigen Kündigung des Produkts berechtigt. Der Verwaltungsrat ist befugt, über die Zusammenlegung, Aufteilung, Liquidation oder Schließung des Teilfonds zu entscheiden. Darüber hinaus kann die SICAV durch Beschluss einer außerordentlichen Hauptversammlung der Anteilinhaber aufgelöst werden.
## Ziele
Der Fonds wird aktiv verwaltet und kann daher in Wertpapiere investieren, die nicht im Index JPM EMBI Global Diversified (RI) enthalten sind. Der Referenzindex wird nur für den Vergleich der Wertentwicklung verwendet. Der Fonds ist benchmarkunabhängig und seine Wertentwicklung kann erheblich von der des Referenzindex abweichen.
Ziel des Fonds ist die mittelfristige Wertsteigerung seiner Vermögenswerte durch Anlagen in Anleihen und/oder anderen Schuldinstrumenten, die von Schwellenländern und/oder in Schwellenländern ansässigen oder tätigen Unternehmen ausgegeben werden.
Nach der Absicherung darf das Engagement in anderen Währungen als dem US-Dollar 5 % nicht übersteigen.
ESG-Kriterien (Umwelt, Soziales und Unternehmensführung) tragen zur Entscheidungsfindung des Anlageverwalters bei, sind aber kein ausschlaggebender Faktor. Die Erträge werden grundsätzlich reinvestiert.
Anleger können ihre Anteile täglich (an Bankarbeitstagen in Luxemburg) zurückgeben, wie im Verkaufsprospekt beschrieben.
## Kleinanleger-Zielgruppe
Dieses Produkt ist für Kleinanleger konzipiert, die weder über Finanzexpertise noch über spezifische Kenntnisse verfügen, um das Produkt zu verstehen, aber dennoch einen vollständigen Kapitalverlust verkraften können. Es ist für Kunden geeignet, die Kapitalwachstum anstreben. Potenzielle Anleger sollten einen Anlagehorizont von mindestens 4 Jahren haben.
## Praktische Informationen
Verwahrstelle: BNP PARIBAS, Luxembourg Branch
Dieses Basisinformationsblatt wurde für die oben genannte Anteilsklasse erstellt und beschreibt einen Teilfonds des BNP Paribas Funds Fonds. Weitere Informationen über das Produkt sind im Prospekt und in den regelmäßigen Berichten enthalten, die auf der Ebene der SICAV herausgegeben werden. Nach luxemburgischem Recht haften die Teilfonds getrennt voneinander, d. h. die Vermögenswerte eines Teilfonds können nicht dazu verwendet werden, die Ansprüche eines Gläubigers oder einer dritten Partei gegenüber einem anderen Teilfonds zu erfüllen.
Anleger können Anteile zwischen den Teilfonds der SICAVs umschichten. Einzelheiten hierzu erfahren Sie im Verkaufsprospekt oder von Ihrem Finanzberater. Weitere Informationen zum Produkt, einschließlich des aktuellen Prospekts, des Basisinformationsblatts, der Nettoinventarwerte, der zuletzt veröffentlichten Anteilspreise, des Jahresberichts und der Anlagebeschreibung sind kostenfrei in englischer Sprache bei BNP PARIBAS ASSET MANAGEMENT Luxembourg oder online unter www.bnpparibas-am.com erhältlich. | # WHAT IS THIS PRODUCT?
## Type
This Product is an undertaking for collective investment in transferable securities (UCITS). It is a sub-fund of BNP Paribas Funds, an open-ended investment company (société d’investissement à capital variable “SICAV”) governed by the provisions of Part I of the Luxembourg Law of 17 December 2010 (the “2010 Law”) relating to undertakings for collective investment as well as by UCITS Directive 2009/65.
## Term
This Product has no maturity date.
BNPP AM Luxembourg is not entitled to terminate the Product unilaterally. The board of directors of the SICAV has the authority to decide on the merger, split, liquidation or the closure of the sub-fund. Furthermore, the SICAV may be wound up by decision of an extraordinary general meeting of shareholders.
## Objectives
The Fund is actively managed and as such may invest in securities that are not included in the index which is JPM EMBI Global Diversified (RI). The benchmark is used for performance comparison only. The Fund is not benchmark constrained and its performance may derivate significantly from that of the benchmark.
The Fund seeks to increase the value of its assets over the medium term by investing in bonds and/or other debt instruments issued by emerging countries and/or companies from emerging countries or companies operating in these countries.
After hedging, the exposure to currencies other than USD may not exceed 5%.
Environmental, social and governance (ESG) criteria contribute to, but are not a determining factor in, the manager's decision making. Incomes are systematically reinvested.
Investors are able to redeem on a daily basis (on Luxembourg bank business days) as described in the prospectus.
## Intended retail investors
This Product is designed for retail investors who have neither financial expertise nor any specific knowledge to understand the Product but nevertheless may bear a total capital loss. It is suited for clients who seek growth of capital. Potential investors should have an investment horizon of at least 4 years.
## Practical Information
Depositary: BNP PARIBAS, Luxembourg Branch
This key information document is prepared for the aforementioned share class and describes a sub-fund of BNP Paribas Funds. Further information about the Product is contained in the prospectus and periodical reports which are issued at the level of the SICAV. Under the 2010 Law, there is segregated liability between sub-funds, meaning that the assets of the sub-fund will not be available to meet a claim of a creditor or another third-party made against another sub-fund.
Investors may switch between sub-funds of the SICAV. Please see the prospectus or contact your financial adviser for details.
Further information about the Product including the latest prospectus, Articles of Association, key information document, net asset values, latest published prices of share(s), periodical report, investment description, may be obtained free of cost, in English, from BNPP AM Luxembourg or online at https://www.bnpparibas-am.com. | en | de |
DOLFIN4070 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# FUND PERFORMANCE AND ATTRIBUTION
- The Fund underperformed the S&P 500 Index in July
- 1
- . Weak stock selection in the consumer staples, health care, and consumer discretionary sectors was slightly offset by stronger selection in the industrials and financials sector.
- In the consumer staples sector, an overweight to Lamb Weston was among top detractors from relative performance. Shares of the leading global supplier of french-fries fell in July after management reported 2Q21 results citing higher input prices weighed on margins. French fry sales volumes remained strong in the quarter, while higher cost of frying oils, freight, and volume driven inefficiencies lowered profitability.
- In the health care sector, an out-of-benchmark position in AstraZeneca was among top detractors from relative results. Shares lowered after an FDA advisory committee voted against the approval of Roxadustat, a treatment for anemia in patients with chronic kidney disease. The decision came after the company and its partner FibroGen were accused of overstating the safety profile of the anemia pill earlier this year.
- In the consumer discretionary sector, an overweight to Caesars Entertainment was among top detractors. Shares of the casino and resort chain operator trended down amid virus resurgence concerns and the potential of renewed restrictions limiting short-term occupancy.
- In the industrials sector, an out-of-benchmark position in TriNet Group was among top contributors. Shares of the human resources solution company rose over the month after the company reported strong second-quarter earnings, outperforming expectations. Revenue upside was driven by strong work site employee (WSE) growth and revenue per WSE. Subsequently, management announced higher than expected fiscal year 2021 guidance factoring in the strong second-quarter performance. | # PERFORMANCE E ANDAMENTO DEL FONDO
- A luglio il Fondo ha sottoperformato l'indice S&P 500
- 1
- . La debole selezione dei titoli nei settori dei beni di base, sanitario e dei beni voluttuari è stata in parte compensata dall'ottima selezione nei settori industriale e finanziario.
- Nel settore dei beni di base, la sovraponderazione di Lamb Weston ha dato uno dei peggiori contributi negativi alla performance relativa. Le azioni del principale fornitore globale di patatine fritte hanno perso terreno a luglio, dopo che il management ha comunicato i risultati del secondo trimestre 2021, sostenendo che i margini siano stati penalizzati dai prezzi dei fattori di produzione. I volumi delle vendite di patatine fritte sono rimasti elevati nel trimestre, mentre l'aumento del costo degli oli da friggere e del trasporto, nonché delle inefficienze legate ai volumi, ha ridotto la redditività.
- Nel settore sanitario, la posizione fuori benchmark su AstraZeneca ha apportato uno dei maggiori contributi negativi alla performance relativa. Le azioni sono calate dopo che un comitato consultivo della FDA ha votato contro l'approvazione di Roxadustat, un trattamento per l'anemia in pazienti con malattia renale cronica. La decisione è giunta dopo che la società e il suo partner FibroGen sono stati accusati di sovrastimare il profilo di sicurezza della pillola per l'anemia all'inizio di quest'anno.
- Nel settore dei beni di consumo voluttuari, la sovraponderazione di Caesars Entertainment si è rivelata tra i principali fattori penalizzanti. Le azioni del casinò e dell'operatore di catene di residence sono calate a causa dei timori sulla ripresa del virus e della possibilità di nuove restrizioni che limitino l'occupazione a breve termine.
- Nel settore industriale, uno dei contributi migliori è giunto dalla posizione fuori benchmark in TriNet Group. Le azioni della società di soluzioni per le risorse umane sono salite nel corso del mese, dopo che la società ha riportato ottimi utili per il secondo trimestre, superando le attese. Il rialzo dei ricavi è stato determinato da una forte crescita dei dipendenti sul sito di lavoro (WSE) e dai ricavi per WSE. Successivamente, il management ha annunciato previsioni per l'esercizio 2021 superiori alle attese, tenendo conto delle ottime performance del secondo trimestre. | # FUND PERFORMANCE AND ATTRIBUTION
- The Fund underperformed the S&P 500 Index in July
- 1
- . Weak stock selection in the consumer staples, health care, and consumer discretionary sectors was slightly offset by stronger selection in the industrials and financials sector.
- In the consumer staples sector, an overweight to Lamb Weston was among top detractors from relative performance. Shares of the leading global supplier of french-fries fell in July after management reported 2Q21 results citing higher input prices weighed on margins. French fry sales volumes remained strong in the quarter, while higher cost of frying oils, freight, and volume driven inefficiencies lowered profitability.
- In the health care sector, an out-of-benchmark position in AstraZeneca was among top detractors from relative results. Shares lowered after an FDA advisory committee voted against the approval of Roxadustat, a treatment for anemia in patients with chronic kidney disease. The decision came after the company and its partner FibroGen were accused of overstating the safety profile of the anemia pill earlier this year.
- In the consumer discretionary sector, an overweight to Caesars Entertainment was among top detractors. Shares of the casino and resort chain operator trended down amid virus resurgence concerns and the potential of renewed restrictions limiting short-term occupancy.
- In the industrials sector, an out-of-benchmark position in TriNet Group was among top contributors. Shares of the human resources solution company rose over the month after the company reported strong second-quarter earnings, outperforming expectations. Revenue upside was driven by strong work site employee (WSE) growth and revenue per WSE. Subsequently, management announced higher than expected fiscal year 2021 guidance factoring in the strong second-quarter performance. | en | it |
DOLFIN4071 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# How long should I hold it and can I take money out early?
### Recommended minimum holding period: 5 years
This product is designed for long term investments; you should be prepared to stay invested for at least 5 years. However, you can redeem your investment without penalty incurred for disinvestment prior to the end of the recommended holding period, or hold the investment longer. Redemptions must be received by the registrar and transfer agent no later than 11am (Irish time) 1 Business Day prior to the relevant Dealing Day to be dealt with on the basis of the net asset value per share applicable on that valuation date. Redemptions received by the registrar and transfer agent after that cut-off time will be dealt with on the next valuation date. Redemptions may be made in a number of shares and/or a cash amount. Redemption payments will be affected three (3) Bank business days, which are also days when the relevant foreign exchange market is open, after the redemption of the shares. Any cashing-in before the end of the recommended holding period may have a negative consequence on your investment. | # ¿Cuánto tiempo debo mantener la inversión, y puedo retirar dinero de manera anticipada?
### Período de mantenimiento mínimo recomendado: 5 años
Este producto ha sido diseñado para inversiones a largo plazo; debería estar preparado para mantener su inversión durante al menos 5años. No obstante, puede reembolsar su inversión sin incurrir en penalizaciones por la desinversión antes de que finalice el periodo de mantenimiento recomendado o mantener la inversión durante más tiempo. Las solicitudes de reembolso recibidas por el agente de registro y transferencia antes de las 11:00 horas (hora de Irlanda) un (1) Día hábil antes del Díade negociación pertinente se tramitarán sobre la base del valor liquidativo por acción aplicable en ese día de valoración. Las solicitudes de reembolso recibidas por el agente de registro y transferencia después de esa hora límite se tramitarán el siguiente día de valoración. Los reembolsos pueden efectuarse en un número de acciones y/o un importe en efectivo. El producto del reembolso se abonará tres (3) Días hábiles bancarios, que sean también días en los que el mercado de divisas pertinente esté abierto, después del reembolso de las acciones. La salida antes de que concluya el periodo de mantenimiento recomendado podría tener consecuencias negativas para su inversión. | # How long should I hold it and can I take money out early?
### Recommended minimum holding period: 5 years
This product is designed for long term investments; you should be prepared to stay invested for at least 5 years. However, you can redeem your investment without penalty incurred for disinvestment prior to the end of the recommended holding period, or hold the investment longer. Redemptions must be received by the registrar and transfer agent no later than 11am (Irish time) 1 Business Day prior to the relevant Dealing Day to be dealt with on the basis of the net asset value per share applicable on that valuation date. Redemptions received by the registrar and transfer agent after that cut-off time will be dealt with on the next valuation date. Redemptions may be made in a number of shares and/or a cash amount. Redemption payments will be affected three (3) Bank business days, which are also days when the relevant foreign exchange market is open, after the redemption of the shares. Any cashing-in before the end of the recommended holding period may have a negative consequence on your investment. | en | es |
DOLFIN4072 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
EUR 1,000
Entry charge
Up to 5.00%
Annual management fee
0.7%
Risk and Reward Profile
Lower risk Higher risk | EUR 1.000
Commissione iniziale
5,00%
Commissione annua di gestione
0,7%
Profilo di rischio e di rendimento
Rischio inferiore Rischio superiore | EUR 1,000
Entry charge
Up to 5.00%
Annual management fee
0.7%
Risk and Reward Profile
Lower risk Higher risk | en | it |
DOLFIN4073 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Composition of Costs
| One-off costs upon entry or exit If you exit after 1 year |
| --- |
| Entry costs | 5.00% of the amount you pay in when entering this investment. | Up to 500 CHF |
| Exit costs | 3.00% of your investment before it is paid out to you. | 309 CHF |
| Ongoing costs taken each year |
| Management fees and other administrative or operating costs | 0.96% of the value of your investment per year. This is an estimate based on actual costs over the last year. | 96 CHF |
| Transaction costs | 0.09% 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. | 9 CHF |
| Incidental costs taken under specific conditions |
| Performance fees (*) | There is no performance fee for this product. | 0 CHF |
How long should I hold it and can I take money out early?
## Recommended holding period: 6 years
## Recommendation: this fund may not be appropriate for investors who plan to withdraw their money within 6 years.
You may buy or sell shares in the product, without penalty, on any normal business day as further documented in the fund's documents. Please contact your broker, financial adviser or distributor for information on any costs and charges relating to the sale of the shares. If you cash in at an early stage this might increase the risk of lower investment returns or a loss.
How can I complain?
Should you wish to complain about the fund or any aspect of the service provided to you by GAM, you may contact GAM (Luxembourg) S.A., 25, Grand- Rue, L-1661 Luxembourg, or submit your complaint via the contact form on our website funds.gam.com.
Other relevant information
You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly report and the latest price of shares from funds.gam.com. A paper copy of these documents is available free of charge upon request from GAM (Luxembourg) S.A., 25, Grand-Rue, L-1661 Luxembourg. This key information document will be updated at least every 12 months following the date of the initial publication, unless there are any adhoc changes.
## You can find information related to the product past performance up to the last 10 years and to previous performance scenario calculations at:
- https://docs.data2report.lu/documents/KID_PP/KID_annex_PP_GAM_LU1649333348_en.pdf.
- https://docs.data2report.lu/documents/KID_PS/KID_annex_PS_GAM_LU1649333348_en.pdf.
## Annex for Switzerland
## The representative in Switzerland is GAM Investment Management (Switzerland) Ltd., Hardstrasse 201, P.O. Box, 8037 Zürich.
## The paying agent in Switzerland is State Street Bank International GmbH, Munich, Zurich branch, Beethovenstrasse 19, CH-8002 Zurich.
Relevant documents such as the prospectus, key information document, articles of association and annual as well as semi-annual reports are available at no charge from the representative in Switzerland, GAM Investment Management (Switzerland) AG, Hardstrasse 201, P.O. Box, 8037 Zurich and at funds.gam.com and www.fundinfo.com. | # Zusammensetzung der Kosten
| Einmalige Kosten bei Einstieg oder Ausstieg Wenn Sie nach 1 Jahr aussteigen |
| --- |
| Einstiegskosten | 5.00% beim Einstieg in diese Anlage zahlen. | Bis zu 500 CHF |
| Ausstiegskosten | 3.00% Ihrer Anlage, bevor sie an Sie ausgezahlt wird. | 309 CHF |
| Laufende Kosten pro Jahr |
| Verwaltungsgebühren und sonstige Verwaltungs- oder Betriebskosten | 0.96% des Werts Ihrer Anlage pro Jahr. Hierbei handelt es sich um eine Schätzung auf der Grundlage der tatsächlichen Kosten des letzten Jahres. | 96 CHF |
| Transaktionskosten | 0.09% des Werts Ihrer Anlage pro Jahr. Hierbei handelt es sich um eine Schätzung der Kosten, die anfallen, wenn wir die zugrunde liegenden Anlagen für das Produkt kaufen oder verkaufen. Der tatsächliche Betrag hängt davon ab, wie viel wir kaufen und verkaufen. | 9 CHF |
| Zusätzliche Kosten unter bestimmten Bedingungen |
| Erfolgsgebühren (*) | Für dieses Produkt wird keine Erfolgsgebühr erhoben. | 0 CHF |
Wie lange sollte ich die Anlage halten, und kann ich vorzeitig Geld entnehmen?
## Empfohlene Haltedauer: 6 Jahre
## Empfehlung: Dieser Fonds ist unter Umständen für Anleger nicht geeignet, die ihr Geld innerhalb eines Zeitraums von 6 Jahren aus dem Fonds wieder zurückziehen wollen.
Sie können Anteile an dem Produkt an jedem gewöhnlichen Geschäftstag ohne Vertragsstrafe kaufen oder verkaufen, wie in den Fondsunterlagen näher angegeben. Wenden Sie sich für Informationen zu den Kosten und Gebühren im Zusammenhang mit dem Verkauf der Anteile bitte an Ihren Broker, Ihren Finanzberater oder Ihre Vertriebsstelle. Wenn Sie die Anlage frühzeitig auflösen, kann sich dadurch das Risiko einer geringeren Anlagerendite oder eines Verlusts erhöhen.
Wie kann ich mich beschweren?
Falls Sie sich über den Fonds oder einen Aspekt der von GAM für Sie erbrachten Dienstleistungen beschweren möchten, können Sie sich an GAM (Luxembourg) S.A., 25, Grand-Rue, L-1661 Luxembourg wenden oder Ihre Beschwerde über das Kontaktformular auf unserer Website funds.gam.com übermitteln.
Sonstige zweckdienliche Angaben
Weitere Informationen zu diesem Fonds, einschließlich des Prospekts, des letzten Jahresberichts, ggf. eines nachfolgenden Halbjahresberichts und des letzten Anteilspreises erhalten Sie unter funds.gam.com. Gedruckte Exemplare dieser Dokumente sind auf Anfrage kostenlos bei GAM (Luxembourg) S.A., 25, Grand-Rue, L-1661 Luxembourg erhältlich. Dieses Basisinformationsblatt wird, sofern nicht im Einzelfall Änderungen notwendig werden, spätestens alle 12 Monate nach dem Datum seiner erstmaligen Veröffentlichung aktualisiert.
## Informationen zur bisherigen Wertentwicklung des Produkts im Zeitraum der letzten 10 Jahre und zu früheren Berechnungen der Performance-Szenarien finden Sie unter:
- https://docs.data2report.lu/documents/KID_PP/KID_annex_PP_GAM_LU1649333348_de.pdf.
- https://docs.data2report.lu/documents/KID_PS/KID_annex_PS_GAM_LU1649333348_de.pdf.
## Anhang für die Schweiz
## Vertreter in der Schweiz ist GAM Investment Management (Switzerland) AG, Hardstrasse 201, Postfach, 8037 Zürich.
## Zahlstelle in der Schweiz ist die State Street Bank International GmbH, München, Zweigniederlassung Zürich, Beethovenstrasse 19, CH-8002 Zürich.
Die relevanten Unterlagen wie der Verkaufsprospekt, das Basisinformationsblatt, die Satzung und der Jahres- und Halbjahresbericht sind kostenlos beim Vertreter in der Schweiz, GAM Investment Management (Switzerland) AG, Hardstrasse 201, Postfach, 8037 Zürich sowie auf funds.gam.com und www.fundinfo.com erhältlich. | # Composition of Costs
| One-off costs upon entry or exit If you exit after 1 year |
| --- |
| Entry costs | 5.00% of the amount you pay in when entering this investment. | Up to 500 CHF |
| Exit costs | 3.00% of your investment before it is paid out to you. | 309 CHF |
| Ongoing costs taken each year |
| Management fees and other administrative or operating costs | 0.96% of the value of your investment per year. This is an estimate based on actual costs over the last year. | 96 CHF |
| Transaction costs | 0.09% 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. | 9 CHF |
| Incidental costs taken under specific conditions |
| Performance fees (*) | There is no performance fee for this product. | 0 CHF |
How long should I hold it and can I take money out early?
## Recommended holding period: 6 years
## Recommendation: this fund may not be appropriate for investors who plan to withdraw their money within 6 years.
You may buy or sell shares in the product, without penalty, on any normal business day as further documented in the fund's documents. Please contact your broker, financial adviser or distributor for information on any costs and charges relating to the sale of the shares. If you cash in at an early stage this might increase the risk of lower investment returns or a loss.
How can I complain?
Should you wish to complain about the fund or any aspect of the service provided to you by GAM, you may contact GAM (Luxembourg) S.A., 25, Grand- Rue, L-1661 Luxembourg, or submit your complaint via the contact form on our website funds.gam.com.
Other relevant information
You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly report and the latest price of shares from funds.gam.com. A paper copy of these documents is available free of charge upon request from GAM (Luxembourg) S.A., 25, Grand-Rue, L-1661 Luxembourg. This key information document will be updated at least every 12 months following the date of the initial publication, unless there are any adhoc changes.
## You can find information related to the product past performance up to the last 10 years and to previous performance scenario calculations at:
- https://docs.data2report.lu/documents/KID_PP/KID_annex_PP_GAM_LU1649333348_en.pdf.
- https://docs.data2report.lu/documents/KID_PS/KID_annex_PS_GAM_LU1649333348_en.pdf.
## Annex for Switzerland
## The representative in Switzerland is GAM Investment Management (Switzerland) Ltd., Hardstrasse 201, P.O. Box, 8037 Zürich.
## The paying agent in Switzerland is State Street Bank International GmbH, Munich, Zurich branch, Beethovenstrasse 19, CH-8002 Zurich.
Relevant documents such as the prospectus, key information document, articles of association and annual as well as semi-annual reports are available at no charge from the representative in Switzerland, GAM Investment Management (Switzerland) AG, Hardstrasse 201, P.O. Box, 8037 Zurich and at funds.gam.com and www.fundinfo.com. | en | de |
DOLFIN4074 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Informations pratiques
- De plus amples informations concernant le Fonds, y compris les cours les plus récents, des informations détaillées sur les modalités de placement, le prospectus du Fonds, les rapports annuels et semestriels et d'autres informations pratiques concernant le Fonds sont disponibles sur www.ashmoregroup.com. Le prospectus du Fonds ainsi que les rapports annuel et semestriel peuvent également être produits en anglais sur demande adressée par courrier électronique à [email protected] ou en appelant au +352 27 62 22 279. Ces informations seront fournies gratuitement.
- Northern Trust Global Services SE est le dépositaire et l'agent payeur du Fonds.
- Le régime fiscal luxembourgeois peut avoir une incidence sur votre situation fiscale personnelle et il peut y avoir des conséquences fiscales dans votre pays de résidence et/ou de citoyenneté. Vous pouvez substituer à ce fonds d'autres fonds ou catégories d'actions d'Ashmore SICAV, sous réserve des conditions d'éligibilité. Pour de plus amples informations, veuillez vous reporter à la section 11 du prospectus du fonds.
- Le présent document décrit la classe Retail EUR (Inc) de Ashmore SICAV Emerging Markets Short Duration Fund, un compartiment de Ashmore SICAV. Pour les catégories d'actions Cap., tout revenu tiré de vos investissements sera réinvesti sur une base mensuelle. Pour des informations complémentaires, veuillez vous reporter à la section 2 du prospectus du fonds, disponible sur www.ashmoregroup.com.
- Des informations détaillées sur la politique de rémunération de la Société de gestion, y compris une description des modalités de calcul de la rémunération et des avantages, l’identité des personnes en charge de l’octroi de la rémunération et des avantages, sont disponibles à l’adresse suivante : www.ashmoregroup.com et peuvent également être obtenues gratuitement au format papier sur demande adressée au siège social de la Société de gestion.
- La responsabilité de Ashmore Investment Management (Ireland) Limited ne peut être engagée que sur la base de déclarations contenues dans le présent document qui seraient trompeuses, inexactes ou incohérentes avec les parties correspondantes du prospectus du Fonds.
- Ashmore SICAV est un Fonds à compartiments multiples proposant plusieurs compartiments qui sont exploités indépendamment et dont l'actif et le passif sont ségrégués en vertu de dispositions légales.
Ce fonds est agréé au Luxembourg et supervisé par la Commission de Surveillance du Secteur Financier. Ashmore Investment Management (Ireland) Limited est agréé en Irlande et réglementé par la Banque centrale d'Irlande.
Les Informations clés pour l’investisseur sont exactes et à jour au 18 février 2022.
Informations clés pour l'investisseur | 2 of 2 | # Información práctica
- En www.ashmoregroup.com puede encontrar más información sobre el fondo, incluidos los precios más recientes, datos sobre cómo invertir, el folleto y los informes anual y semestral de este, así como otra información práctica. El folleto y los informes anual y semestral del fondo también pueden facilitarse en inglés si así solicita por correo electrónico a [email protected] o por teléfono a +352 27 62 22 279. Dicha información se facilitará gratuitamente.
- El depositario y agente de pagos del fondo es Northern Trust Global Services SE.
- El régimen tributario de Luxemburgo puede tener repercusiones sobre su posición tributaria personal y es posible que existan implicaciones fiscales en su país de residencia o ciudadanía. Podrá cambiar del fondo a otros fondos o clases de acciones (denominados en la misma divisa) de la SICAV Ashmore siempre que se cumplan los requisitos aplicables. Si desea más información, consulte la sección 11 del folleto del fondo.
- Este documento describe la clase Retail EUR (Inc) de Ashmore SICAV Emerging Markets Short Duration Fund, que es un subfondo de Ashmore SICAV. En el caso de las clases de acciones acumulativas Acc, todo dividendo procedente de sus inversiones será reinvertidocon una periodicidad mensual. Para obtener más información consulte la sección 2 del folleto del fondo, disponible en www.ashmoregroup.com.
- Los detalles de la política de remuneración actualizada de la sociedad de gestión, incluida una descripción de cómo se calcula laremuneración y los beneficios, así como la identidad de las personas encargadas de conceder la remuneración y los beneficios, están disponibles en www.ashmoregroup.com. También puede obtenerse una copia en papel gratuita previa solicitud al domicilio social de la sociedad de gestión.
- Ashmore Investment Management (Ireland) Limited únicamente incurrirá en responsabilidad por las declaraciones recogidas en el presente documento que resulten engañosas, inexactas o incoherentes con respecto a las correspondientes partes del folleto del fondo.
- Ashmore SICAV es un fondo de tipo paraguas que ofrece varios subfondos que operan de forma independiente y cuyos activos y pasivos están legalmente segregados entre sí.
Este fondo está autorizado en Luxemburgo y la Commission de Surveillance du Secteur Financier se encarga de supervisarlo. Ashmore Investment Management (Ireland) Limited está autorizada en Irlanda y regulada por el Banco Central de ese país.
Los presentes datos fundamentales para el inversor son exactos a 18 febrero 2022.
Datos fundamentales para el inversor | 2 of 2 | # Informations pratiques
- De plus amples informations concernant le Fonds, y compris les cours les plus récents, des informations détaillées sur les modalités de placement, le prospectus du Fonds, les rapports annuels et semestriels et d'autres informations pratiques concernant le Fonds sont disponibles sur www.ashmoregroup.com. Le prospectus du Fonds ainsi que les rapports annuel et semestriel peuvent également être produits en anglais sur demande adressée par courrier électronique à [email protected] ou en appelant au +352 27 62 22 279. Ces informations seront fournies gratuitement.
- Northern Trust Global Services SE est le dépositaire et l'agent payeur du Fonds.
- Le régime fiscal luxembourgeois peut avoir une incidence sur votre situation fiscale personnelle et il peut y avoir des conséquences fiscales dans votre pays de résidence et/ou de citoyenneté. Vous pouvez substituer à ce fonds d'autres fonds ou catégories d'actions d'Ashmore SICAV, sous réserve des conditions d'éligibilité. Pour de plus amples informations, veuillez vous reporter à la section 11 du prospectus du fonds.
- Le présent document décrit la classe Retail EUR (Inc) de Ashmore SICAV Emerging Markets Short Duration Fund, un compartiment de Ashmore SICAV. Pour les catégories d'actions Cap., tout revenu tiré de vos investissements sera réinvesti sur une base mensuelle. Pour des informations complémentaires, veuillez vous reporter à la section 2 du prospectus du fonds, disponible sur www.ashmoregroup.com.
- Des informations détaillées sur la politique de rémunération de la Société de gestion, y compris une description des modalités de calcul de la rémunération et des avantages, l’identité des personnes en charge de l’octroi de la rémunération et des avantages, sont disponibles à l’adresse suivante : www.ashmoregroup.com et peuvent également être obtenues gratuitement au format papier sur demande adressée au siège social de la Société de gestion.
- La responsabilité de Ashmore Investment Management (Ireland) Limited ne peut être engagée que sur la base de déclarations contenues dans le présent document qui seraient trompeuses, inexactes ou incohérentes avec les parties correspondantes du prospectus du Fonds.
- Ashmore SICAV est un Fonds à compartiments multiples proposant plusieurs compartiments qui sont exploités indépendamment et dont l'actif et le passif sont ségrégués en vertu de dispositions légales.
Ce fonds est agréé au Luxembourg et supervisé par la Commission de Surveillance du Secteur Financier. Ashmore Investment Management (Ireland) Limited est agréé en Irlande et réglementé par la Banque centrale d'Irlande.
Les Informations clés pour l’investisseur sont exactes et à jour au 18 février 2022.
Informations clés pour l'investisseur | 2 of 2 | fr | es |
DOLFIN4075 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
##### Amounts designated as “–” are either $0/€0/¥0/£0 or less than $1,000/€1,000/¥1,000/£1,000.
Gains and losses are solely from continuing operations except for Legg Mason QS Emerging Markets Equity Fund^ and Legg Mason Martin Currie European Absolute Alpha Fund^ which have discontinued operations. There were no other gains or losses other than those dealt with in the Statement of Comprehensive Income.
The Euro figures for Legg Mason Western Asset Euro Core Plus Bond Fund, Legg Mason Western Asset Euro High Yield Fund, Franklin MV European Equity Growth and Income Fund, Legg Mason Martin Currie European Absolute Alpha Fund^, Legg Mason Martin Currie European Unconstrained Fund^ and Legg Mason ClearBridge Infrastructure Value Fund^ have been converted into US Dollars in the total figure for Legg Mason Global Funds Plc for the financial year ended 28 February 2022 using the USD/EUR average rate of 0.8551 (28 February 2021: 0.8635).
British Pound figures for Legg Mason Western Asset UK Investment Grade Credit Fund^ have been converted into US Dollars in the total figure for Legg Mason Global Funds Plc for the financial year ended 28 February 2022 using the USD/GBP average rate of 0.7289 (28 February 2021: 0.7733). | #### Gli importi indicati come “–” sono pari a $0/€0/¥0/£0 o inferiori a $1.000/€1.000/¥1.000/£1.000.
Gli utili e le perdite derivano esclusivamente dalle operazioni continue, ad eccezione di Legg Mason QS Emerging Markets Equity Fund^ e Legg Mason Martin Currie European Absolute Alpha Fund^ che hanno interrotto le operazioni. Non vi sono stati altri profitti o perdite all’infuori di quelli riportati nel Conto economico.
I dati in euro per Legg Mason Western Asset Euro Core Plus Bond Fund, Legg Mason Western Asset Euro High Yield Fund, Franklin MV European Equity Growth and Income Fund, Legg Mason Martin Currie European Absolute Alpha Fund^, Legg Mason Martin Currie European Unconstrained Fund^ e Legg Mason ClearBridge Infrastructure Value Fund^ sono stati convertiti in dollari USA nell’importo totale per Legg Mason Global Funds Plc per l’esercizio chiuso il 28 febbraio 2022 utilizzando il tasso medio USD/EUR pari a 0.8551 (28 febbraio 2021: 0.8635).
Le cifre in sterline britanniche per Legg Mason Western Asset UK Investment Grade Credit Fund^ sono state convertite in dollari statunitensi nell’importo totale per Legg Mason Global Funds Plc per l’esercizio chiuso il 28 febbraio 2022 utilizzando il tasso medio USD/GBP di 0,7289 (28 febbraio 2021: 0,7733). | ##### Amounts designated as “–” are either $0/€0/¥0/£0 or less than $1,000/€1,000/¥1,000/£1,000.
Gains and losses are solely from continuing operations except for Legg Mason QS Emerging Markets Equity Fund^ and Legg Mason Martin Currie European Absolute Alpha Fund^ which have discontinued operations. There were no other gains or losses other than those dealt with in the Statement of Comprehensive Income.
The Euro figures for Legg Mason Western Asset Euro Core Plus Bond Fund, Legg Mason Western Asset Euro High Yield Fund, Franklin MV European Equity Growth and Income Fund, Legg Mason Martin Currie European Absolute Alpha Fund^, Legg Mason Martin Currie European Unconstrained Fund^ and Legg Mason ClearBridge Infrastructure Value Fund^ have been converted into US Dollars in the total figure for Legg Mason Global Funds Plc for the financial year ended 28 February 2022 using the USD/EUR average rate of 0.8551 (28 February 2021: 0.8635).
British Pound figures for Legg Mason Western Asset UK Investment Grade Credit Fund^ have been converted into US Dollars in the total figure for Legg Mason Global Funds Plc for the financial year ended 28 February 2022 using the USD/GBP average rate of 0.7289 (28 February 2021: 0.7733). | en | it |
DOLFIN4076 | 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 provide income and capital growth.
- The fund will invest at least 70% in global emerging-market government and corporate bonds, including those denominated in local and globally traded major currencies (‘‘hard currencies’’) and nominal and inflation linked bonds.
- The fund may invest up to 10% directly in onshore China bonds listed or traded on any eligible market in China.
- Investments will be made in, but not limited to, Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East.
- The fund will invest at least 50% of its net assets in securities that maintain sustainable characteristics. The fund promotes environmental and social characteristics pursuant to article 8 of the SFDR.
- The fund adheres to the firm-wide exclusion list (which includes cluster munitions and anti-personnel landmines) and also excludes issuers which fail to conduct their business in accordance with accepted international norms.
- Less than 30% of the fund’s total net assets will be invested in hybrids and Cocos, with less than 20% of the total net assets to be invested in Cocos.
- The fund can invest in bonds issued by governments, companies and other bodies.
- The fund may make use of derivatives or use complex derivatives to meet its investment objectives in line with the fund's risk profile. The fund can use derivatives, including but not limited to, futures, options, forwards, swaps, credit linked instruments, and other fixed income, currency and credit derivatives, to achieve indirect exposure to the main assets listed above, to generate additional capital or income in line with the fund's risk profile or with the aim of risk or cost reduction.
- The fund has the freedom to invest outside its principal geographies, market sectors, industries or asset classes.
- The fund is unconstrained in the amount that it may invest in sub investment grade and/or high yield securities or issuers.
- The fund ’s exposure to Distressed Securities is limited to 10% of its assets.
- The fund will invest less than 30% directly and/or indirectly in onshore China fixed income securities on an aggregated basis.
- The reference currency of the fund is hedged to the reference currency of the share class. This hedging has the effect of translating (or ‘‘replicating’’) the returns expressed in the fund’s reference currency into returns expressed in the reference currency of the share class.
- The fund is actively managed and references 25% J.P. Morgan EMBI Global Diversified + 25% J.P. Morgan CEMBI Broad Diversified + 50%J.P. Morgan GBI-EM Global Diversified Index Hedged to EUR for portfolio level risk measurement only as its global exposure is measured using the relative VaR approach. For the avoidance of doubt, the Investment Manager is not constrained by the Index and there are no restrictions on the extent to which the fund’s performance may deviate from that of the Index.
- Income earned by the fund is accumulated in the share price.
- Shares can usually be bought and sold each business day of the fund. | # Objetivos y política de inversión
- El fondo tiene como objetivo generar ingresos y crecimiento del capital.
- El fondo invertirá al menos un 70 % en bonos del Estado y de empresas de mercados emergentes de todo el mundo, incluidos los denominados en las principales divisas locales y negociadas globalmente («monedas fuertes») y los bonos nominales y vinculados a la inflación.
- El fondo podrá invertir hasta un 10 % directamente en bonos del mercado interior chino que coticen o se negocien en cualquier mercado autorizado de China.
- Las inversiones se realizarán, entre otros, en América Latina, Sudeste Asiático, África, Europa del Este (Rusia incluida) y Oriente Medio.
- El Subfondo invertirá al menos un 50 % de su patrimonio en valores que cuenten con características sostenibles. El Subfondo promueve las características medioambientales y sociales que exige el artículo 8 del SFDR.
- El Subfondo se ciñe a una lista de exclusión de firmas de todos los sectores (que incluyen la fabricación de bombas de racimo o minas antipersona), así como los emisores que no realizan su actividad conforme a unas normas aceptadas internacionalmente.
- Menos del 30 % de su patrimonio neto se invertirá en híbridos y CoCos, invirtiéndose menos del 20 % del patrimonio neto total en CoCos.
- El fondo puede invertir en bonos emitidos por gobiernos, empresas y otros organismos.
- El Subfondo podrá utilizar instrumentos derivados, también aquellos complejos, con el fin de lograr su objetivo de inversión atendiendo a su perfil de riesgo. El Subfondo podrá hacer uso de derivados, incluidos, entre otros, futuros, opciones, contratos a plazo, permutas, instrumentos vinculados a crédito y otros derivados de crédito, divisas y renta fija, para lograr exposición indirecta a los principales activos enumerados anteriormente, generar capital o ingresos adicionales en línea con el perfil de riesgo del Subfondo o con fines de reducción de riesgos o costes.
- El fondo tiene libertad para invertir fuera de sus límites principales en cuanto a zonas geográficas, sectores del mercado, industrias o clases de activos.
- El Subfondo no tiene restricciones en cuanto a la cantidad que puede invertir en valores o emisores calificados con grado especulativo o de alto rendimiento.
- La exposición del Subfondo a valores que atraviesan dificultades se limitará al 10% de su patrimonio.
- El Subfondo invertirá menos del 30 % directa o indirectamente en valores de renta fija del mercado interior chino de forma conjunta.
- La divisa de referencia del fondo se cubre con la divisa de referencia de la clase de acciones. El efecto de esta cobertura implica la conversión (o la «réplica») de la rentabilidad expresada en la divisa de referencia del fondo en la rentabilidad expresada en la divisa de referencia de la clase de acciones.
- El Subfondo se gestiona de manera activa y utiliza como referencia el 25% J.P. Morgan EMBI Global Diversified + 25% J.P. Morgan CEMBI Broad Diversified + 50% J.P. Morgan GBI-EM Global Diversified Index Hedged to EUR para medir el riesgo a nivel de cartera únicamente en la medida en que su exposición global se mide con el método del VeR (valor en riesgo) relativo. Para evitar dudas, el Gestor de Inversiones no está limitado por el Índice y no hay restricciones sobre la medida en que la rentabilidad del Subfondo puede desviarse de la del Índice.
- Los ingresos obtenidos por el fondo se acumulan en el precio de sus acciones.
- Normalmente, las Acciones pueden comprarse y venderse cada día hábil del Subfondo. | # Objectives and Investment Policy
- The fund aims to provide income and capital growth.
- The fund will invest at least 70% in global emerging-market government and corporate bonds, including those denominated in local and globally traded major currencies (‘‘hard currencies’’) and nominal and inflation linked bonds.
- The fund may invest up to 10% directly in onshore China bonds listed or traded on any eligible market in China.
- Investments will be made in, but not limited to, Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East.
- The fund will invest at least 50% of its net assets in securities that maintain sustainable characteristics. The fund promotes environmental and social characteristics pursuant to article 8 of the SFDR.
- The fund adheres to the firm-wide exclusion list (which includes cluster munitions and anti-personnel landmines) and also excludes issuers which fail to conduct their business in accordance with accepted international norms.
- Less than 30% of the fund’s total net assets will be invested in hybrids and Cocos, with less than 20% of the total net assets to be invested in Cocos.
- The fund can invest in bonds issued by governments, companies and other bodies.
- The fund may make use of derivatives or use complex derivatives to meet its investment objectives in line with the fund's risk profile. The fund can use derivatives, including but not limited to, futures, options, forwards, swaps, credit linked instruments, and other fixed income, currency and credit derivatives, to achieve indirect exposure to the main assets listed above, to generate additional capital or income in line with the fund's risk profile or with the aim of risk or cost reduction.
- The fund has the freedom to invest outside its principal geographies, market sectors, industries or asset classes.
- The fund is unconstrained in the amount that it may invest in sub investment grade and/or high yield securities or issuers.
- The fund ’s exposure to Distressed Securities is limited to 10% of its assets.
- The fund will invest less than 30% directly and/or indirectly in onshore China fixed income securities on an aggregated basis.
- The reference currency of the fund is hedged to the reference currency of the share class. This hedging has the effect of translating (or ‘‘replicating’’) the returns expressed in the fund’s reference currency into returns expressed in the reference currency of the share class.
- The fund is actively managed and references 25% J.P. Morgan EMBI Global Diversified + 25% J.P. Morgan CEMBI Broad Diversified + 50%J.P. Morgan GBI-EM Global Diversified Index Hedged to EUR for portfolio level risk measurement only as its global exposure is measured using the relative VaR approach. For the avoidance of doubt, the Investment Manager is not constrained by the Index and there are no restrictions on the extent to which the fund’s performance may deviate from that of the Index.
- Income earned by the fund is accumulated in the share price.
- Shares can usually be bought and sold each business day of the fund. | en | es |
DOLFIN4077 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
##### Neuberger Berman Multi-Asset Income Fund
Global Data:
The amount of assets across total return swaps as at 30 June 2021 was as follows: | #### Neuberger Berman Multi-Asset Income Fund
Dati globali:
L’importo delle attività in total return swap al 30 giugno 2021 era il seguente: | ##### Neuberger Berman Multi-Asset Income Fund
Global Data:
The amount of assets across total return swaps as at 30 June 2021 was as follows: | en | it |
DOLFIN4078 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
The different instruments mentioned here above are valued at the reference date or, if not, at the first previous date made available.
Where the value of the assets cannot be valued following the Mark-to-Market or if the market data are of insufficient quality, or there are no significant amounts of transactions or for which the price is not available or clearly not representative of the fair market value, their value shall be determined conservatively using mark-to-model.
The mark-to-model method is based on financial models to allocate a fair value to an asset, using either:
- models developed internally by the Board of Directors and/or the Management Company or
- existing models from external parties such as data vendors or
- a combination of both (i) and (ii).
- The liabilities of the SICAV will, in particular, be comprised of:
- all borrowings, matured bills and accounts payable;
- all accrued or payable administrative expenses (including but not limited to fees paid to the asset managers, custodians, representatives and agents of the SICAV);
- all known liabilities, whether or not due, including all contractual obligations due and relating to payments in cash or in kind, including the amount of any unpaid dividends declared by the SICAV where the Valuation Date coincides with the record date for the determination of the persons entitled to such payment;
- an appropriate reserve for future taxes on capital and on revenue, accrued up to the Valuation Date and determined periodically by the SICAV and, where necessary, other reserves authorized or approved by the Board of Directors;
- any other liabilities of the SICAV regardless of their nature and type, with the exception of those represented by its own funds. When valuing these other liabilities, the SICAV will take into consideration all its expenses, in particular: incorporation costs, fees and commissions payable to counterparties providing a service to the SICAV including management fees, performance fees and consulting fees, fees payable to the depositary and correspondent agents, the administrative agent, the transfer agent, the paying agents, etc., including out-of-pocket expenses, legal fees and audit fees, promotional expenses, the cost of printing and publishing the share sales documents and any other document concerning the SICAV such as financial reports, the cost of calling and holding shareholders’ meetings and of any amendments to the Articles, the cost of calling and holding meetings of the Board of Directors, reasonable travel expenses incurred by the directors in carrying out their duties plus attendance allowances, share issue and redemption costs, dividend payment costs, taxes due tothe supervisory bodies in foreign countries where the SICAV is registered including fees and commissions payable to local permanent representatives, also the costs associated with maintaining registrations, taxes, charges and duties imposed by government authorities, stock exchange listing and follow-on costs, financial, banking or brokerage fees, the expenses and costs connected with subscription to an account or a license or any other request for paid information from financial index providers, ratings agencies or any other data suppliers, and all other operating expenses and all other administrative charges. When valuing the amount of all or some of these liabilities, the SICAV may estimate regular or periodic administrative and other expenses on the basis of one year or any other period, allocating the amount over that period on a pro rata basis, or may set a fee calculated and paid as described in the sales documents. | Los diferentes activos mencionados anteriormente se valoran en la fecha de referencia o, en su defecto, en la primera fecha disponible anterior.
Si el valor de los activos no se puede determinar recurriendo a la valoración al precio de mercado, si la calidad de los datos de mercado es insuficiente, si los activos no son objeto de un número significativo de operaciones, o si el precio no está disponible o claramente no es representativo del valor justo de mercado, su valor se determinará de forma prudente por referencia a un modelo.
El método de valoración mediante modelo se basa en modelos financieros destinados a atribuir un valor justo a un activo utilizando, o bien:
- modelos desarrollados internamente por el Consejo de Administración y/o la Sociedad Gestora, o bien
- modelos existentes procedentes de partes externas, como proveedores de datos, o bien
- una combinación de lo mencionado en los puntos (i) y (ii).
- Los pasivos de la SICAV estarán constituidos por lo siguiente:
- todos los préstamos, letras vencidas y cuentas por pagar;
- todos los gastos administrativos acumulados o pagaderos (lo que incluye, entre otras cosas, las comisiones pagadas a los gestores de activos, depositarios, representantes y agentes de la SICAV);
- todos los pasivos conocidos, vencidos o no, incluidas todas las obligaciones contractuales debidas y asociadas a pagos en efectivo o en especie, incluida la cantidad de cualquier dividendo declarado por la SICAV que todavía no se haya pagado, en los casos en los que la Fecha de la valoración coincida con la fecha de registro para la determinación de las personas que tienen derecho a dicho pago;
- una reserva apropiada para futuros impuestos que graven el capital y los ingresos, acumulada hasta la Fecha de Valoración y determinada periódicamente por la SICAV y, en caso necesario, otras reservas autorizadas o aprobadas por el Consejo de Administración;
- cualquier otro pasivo de la SICAV con independencia de su naturaleza o tipo, exceptuando los representados por sus propios fondos. Al valor estos otros pasivos, laSICAV tendrá en cuenta todos sus gastos, en particular: gastos de constitución, honorarios y comisiones pagadas a contrapartes que presten servicios a la SICAV, incluidas comisiones de gestión, comisiones de rentabilidad y comisiones de consultoría, comisiones pagadas al depositario y los agentes corresponsales, al agente administrativo, al agente de transferencias, a los agentes de pagos, etc., incluidos los gastos ordinarios, honorarios de abogados y auditoría, gastos de promoción, el coste de impresión y publicación de los documentos de venta de acciones y otros documentos relacionados con la SICAV, como informes financieros, el coste de convocatoria de juntas de accionistas y de cambios en los Estatutos, el coste de convocatoria y celebración de juntas del Consejo de Administración, gastos de viajes razonables en que incurran los administradores en el desempeño de sus funciones más dietas de asistencia, costes de emisión y reembolso de acciones, costes de pago de dividendos, impuestos adeudados a los organismos de control de países extranjeros en los que esté registrada la SICAV, incluyendo honorarios y comisiones pagadas a representantes permanentes locales, además de los costes relacionados con el mantenimiento de registros, impuestos, cargos y tasas impuestos por las autoridades públicas, costes de cotización en bolsa y de seguimiento, comisiones financieras, bancarias o de corretaje, gastos y costes relacionados con la suscripción a una cuenta o una licencia, o cualquier otra solicitud de información a cambio de pago de proveedores de índices financieros, agencias de calificación crediticia o cualquier otro proveedor de datos, y todos los demás gastos operativos y administrativos. Al valorar el importe de parte o la totalidad de estos pasivos, la SICAV podrá calcular los gastos regulares o periódicos administrativos y de otra índole con carácter anual o cualquier otro periodo, asignando el importe de ese periodo de forma proporcional, o podrá determinar una comisión calculada y pagada según se describe en los documentos de venta. | The different instruments mentioned here above are valued at the reference date or, if not, at the first previous date made available.
Where the value of the assets cannot be valued following the Mark-to-Market or if the market data are of insufficient quality, or there are no significant amounts of transactions or for which the price is not available or clearly not representative of the fair market value, their value shall be determined conservatively using mark-to-model.
The mark-to-model method is based on financial models to allocate a fair value to an asset, using either:
- models developed internally by the Board of Directors and/or the Management Company or
- existing models from external parties such as data vendors or
- a combination of both (i) and (ii).
- The liabilities of the SICAV will, in particular, be comprised of:
- all borrowings, matured bills and accounts payable;
- all accrued or payable administrative expenses (including but not limited to fees paid to the asset managers, custodians, representatives and agents of the SICAV);
- all known liabilities, whether or not due, including all contractual obligations due and relating to payments in cash or in kind, including the amount of any unpaid dividends declared by the SICAV where the Valuation Date coincides with the record date for the determination of the persons entitled to such payment;
- an appropriate reserve for future taxes on capital and on revenue, accrued up to the Valuation Date and determined periodically by the SICAV and, where necessary, other reserves authorized or approved by the Board of Directors;
- any other liabilities of the SICAV regardless of their nature and type, with the exception of those represented by its own funds. When valuing these other liabilities, the SICAV will take into consideration all its expenses, in particular: incorporation costs, fees and commissions payable to counterparties providing a service to the SICAV including management fees, performance fees and consulting fees, fees payable to the depositary and correspondent agents, the administrative agent, the transfer agent, the paying agents, etc., including out-of-pocket expenses, legal fees and audit fees, promotional expenses, the cost of printing and publishing the share sales documents and any other document concerning the SICAV such as financial reports, the cost of calling and holding shareholders’ meetings and of any amendments to the Articles, the cost of calling and holding meetings of the Board of Directors, reasonable travel expenses incurred by the directors in carrying out their duties plus attendance allowances, share issue and redemption costs, dividend payment costs, taxes due tothe supervisory bodies in foreign countries where the SICAV is registered including fees and commissions payable to local permanent representatives, also the costs associated with maintaining registrations, taxes, charges and duties imposed by government authorities, stock exchange listing and follow-on costs, financial, banking or brokerage fees, the expenses and costs connected with subscription to an account or a license or any other request for paid information from financial index providers, ratings agencies or any other data suppliers, and all other operating expenses and all other administrative charges. When valuing the amount of all or some of these liabilities, the SICAV may estimate regular or periodic administrative and other expenses on the basis of one year or any other period, allocating the amount over that period on a pro rata basis, or may set a fee calculated and paid as described in the sales documents. | en | es |
DOLFIN4079 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
| If you exit after 1 year | If you exit after 2 years |
| --- | --- |
| Total costs EUR | 494 EUR | 662 EUR |
| Annual cost impact (*) | 4.9% | 3.3% each year | | | Si vous sortez après 1 an | Si vous sortez après 2 ans |
| --- | --- |
| Coûts totaux EUR | 494 EUR | 662 EUR |
| Incidence des coûts annuels (*) | 4,9% | 3,3% par an | | | If you exit after 1 year | If you exit after 2 years |
| --- | --- |
| Total costs EUR | 494 EUR | 662 EUR |
| Annual cost impact (*) | 4.9% | 3.3% each year | | en | fr |
DOLFIN4080 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
### Class “A” and Class “I” Shares
Each Sub-Fund offers two different classes of shares. The classes differ principally in terms of sales charges and rate of expenses to which they are subject as well as their availability to certain types of investors.
Class “A” Shares are for all investors other than Institutional Investors. An initial fee of up to 5.5% of the Dealing Price of the class “A” Shares is normally charged. Class “I” Shares are specifically designed for Institutional Investors. No initial fee is charged to the class “I” Shares. | ### Actions des Classes A et I
Chaque compartiment offre deux classes d'actions différentes. Les classes se distinguent principalement en termes de commission de souscription et de charges ainsi que par rapport aux investisseurs auxquels elles sont destinées.
Les classes d'actions A sont destinées à tout type d'investisseur à l'exception des investisseurs institutionnels. Des frais d’entrée plafonnés à 5.5% du prix de négociation des classes d'actions A sont normalement prélevés. Les classes d'actions I sont réservées aux investisseurs institutionnels. Aucuns frais d'entrée ne seront facturés au titre des actions de classe I. | ### Class “A” and Class “I” Shares
Each Sub-Fund offers two different classes of shares. The classes differ principally in terms of sales charges and rate of expenses to which they are subject as well as their availability to certain types of investors.
Class “A” Shares are for all investors other than Institutional Investors. An initial fee of up to 5.5% of the Dealing Price of the class “A” Shares is normally charged. Class “I” Shares are specifically designed for Institutional Investors. No initial fee is charged to the class “I” Shares. | en | fr |
DOLFIN4081 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# 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.
ALMA ZAZOVE GLOBAL CONVERTIBLE FUND (the "Sub-Fund")
a sub-fund of Alma Capital Investment Funds (the "Fund") Class F EUR-H C – LU1494400382
PRIIP manufacturer: Alma Capital Investment Management
For more information: https://www.almacapital.com or call +352 28 84 54 10
The Commission de Surveillance du Secteur Financier ("CSSF") in Luxembourg is responsible for supervising Alma Capital Investment Management in relation to this Key Information Document.
(the "Sub-Fund") is authorised in Luxembourg and regulated by the CSSF.
This product is managed by Alma Capital Investment Management, which is authorised in Luxembourg and supervised by the CSSF.
Accurate as of: 31 January 2023
What is this product? | # Objet
Le présent document contient des informations essentielles sur le produit d’investissement. Il ne s’agit pas d’un document à caractère commercial. Ces informations vous sont fournies conformément à une obligation légale, afin de vous aider à comprendre en quoi consiste ce produit et quels risques, coûts, gains et pertes potentiels y sont associés, et de vous aider à le comparer à d’autres produits.
ALMA ZAZOVE GLOBAL CONVERTIBLE FUND (le "Compartiment")
un compartiment de Alma Capital Investment Funds (le « Fonds ») Classe F EUR-H C – LU1494400382
Initiateur du PRIIP : Alma Capital Investment Management
Pour de plus amples informations, veuillez consulter le site https://www.almacapital.com ou appeler le +352 28 84 54 10
La Commission de Surveillance du Secteur Financier (« CSSF ») au Luxembourg est chargée du contrôle d’Alma Capital Investment Management en ce qui concerne ce Document d’informations clés.
(le "Compartiment") est agréé au Luxembourg et réglementé par la CSSF.
Ce produit est géré par Alma Capital Investment Management, une société agréée au Luxembourg et supervisée par la CSSF.
Exactes et à jour au: 31 janvier 2023
En quoi consiste ce produit ? | # 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.
ALMA ZAZOVE GLOBAL CONVERTIBLE FUND (the "Sub-Fund")
a sub-fund of Alma Capital Investment Funds (the "Fund") Class F EUR-H C – LU1494400382
PRIIP manufacturer: Alma Capital Investment Management
For more information: https://www.almacapital.com or call +352 28 84 54 10
The Commission de Surveillance du Secteur Financier ("CSSF") in Luxembourg is responsible for supervising Alma Capital Investment Management in relation to this Key Information Document.
(the "Sub-Fund") is authorised in Luxembourg and regulated by the CSSF.
This product is managed by Alma Capital Investment Management, which is authorised in Luxembourg and supervised by the CSSF.
Accurate as of: 31 January 2023
What is this product? | en | fr |
DOLFIN4082 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Le nom du Compartiment sera modifié en « SRI Euro Green & Sustainable Bond » pour assurer une cohérence à travers tous les compartiments ISR du Fonds.
Aucune de ces actualisations n’a toutefois pour objet de signifier un changement du profil de risque du Compartiment. Ces mises à jour n’auront qu’un impact limité et mineur sur le portefeuille actuel et n’auront aucun impact sur le niveau de commissions supporté par les actionnaires du Compartiment.
Les Actionnaires du Compartiment qui n’acceptent pas ces changements peuvent demander le rachat de leurs actions sans frais de rachat pendant un mois à compter de la date du présent avis. Ces rachats seront effectués conformément aux conditions du Prospectus.
- Ajout de détails supplémentaires concernant le processus d’investissement social et responsable (ISR) et clarification des caractéristiques du compartiment SRI Euro Premium High Yield (le « Compartiment »). | El Subfondo pasará a denominarse SRI Euro Green & Sustainable Bond para asegurar la coherencia en toda la gama de subfondos de ISR del Fondo.
Sin embargo, con ninguno de estos cambios se pretende modificar el perfil de riesgo del Subfondo. Estos cambios tendrán un impacto limitado y menor en la cartera actual y no tendrán ningún efecto en el nivel de comisiones que soportan los accionistas del Subfondo.
Los accionistas del Subfondo que no estén de acuerdo con este cambio podrán reembolsar sus acciones sin gastos de reembolso en el plazo de un mes a partir de la fecha del presente aviso. Dichos reembolsos se realizarán de acuerdo con las condiciones del Folleto.
- Inclusión de detalles adicionales relativos al actual proceso de inversión sostenible y responsable (ISR) y aclaraciones de las características del subfondo SRI Euro Premium High Yield (el «Subfondo»)La información de ISR divulgada en el Suplemento correspondiente a este Subfondo se actualizará para ofrecer más detalles en relación con el actual proceso y la metodología de ISR del Gestor de inversión del Subfondo para este Subfondo. | Le nom du Compartiment sera modifié en « SRI Euro Green & Sustainable Bond » pour assurer une cohérence à travers tous les compartiments ISR du Fonds.
Aucune de ces actualisations n’a toutefois pour objet de signifier un changement du profil de risque du Compartiment. Ces mises à jour n’auront qu’un impact limité et mineur sur le portefeuille actuel et n’auront aucun impact sur le niveau de commissions supporté par les actionnaires du Compartiment.
Les Actionnaires du Compartiment qui n’acceptent pas ces changements peuvent demander le rachat de leurs actions sans frais de rachat pendant un mois à compter de la date du présent avis. Ces rachats seront effectués conformément aux conditions du Prospectus.
- Ajout de détails supplémentaires concernant le processus d’investissement social et responsable (ISR) et clarification des caractéristiques du compartiment SRI Euro Premium High Yield (le « Compartiment »). | fr | es |
DOLFIN4083 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# RISK AND REWARD PROFILE
Lower risk Higher risk
Potentially lower return Potentially higher return
- The risk level shown reflects the fund's historical volatility, completed where applicable by that of its reference framework. The volatility indicates the extent to which the value of the fund may fluctuate upwards or downwards.
- The historical data may not be a reliable indication for the future.
- The indicated category may vary over time.
- The lowest category does not mean "risk-free".
- There is no guarantee or mechanism to protect the capital.
### The investor needs to be aware of the following significant risks which are not necessarily adequately taken into account by the indicator:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
- Emerging countries risk: emerging countries may experience political, legal or fiscal uncertainties or other events that could impact negatively on the assets of the fund. The assets traded in these countries may be subject to market movements that are potentially more rapid than in the major international markets and listing differentials that may be considerably bigger under certain market conditions. These assets may prove to be less liquid and may not be able to be sold quickly and at reasonable prices. Exchange rate fluctuations involving the currencies of emerging countries may be sudden and substantial.
- Liquidity risk: the fund may invest in securities and/or market segments that may be less liquid, in particular in certain market circumstances, with the result that securities cannot be liquidated quickly at reasonable prices. | # PERFIL DE RIESGO Y REMUNERACIÓN
Riesgo más bajo Riesgo más alto
Rentabilidad potencialmente más baja Rentabilidad potencialmente más alta
- El nivel de riesgo mencionado refleja la volatilidad del historial del fondo y en su caso, se completa con el de su marco de referencia. La volatilidad indica la medida en la que el valor del fondo puede fluctuar tanto a la alza como a la baja.
- Los datos históricos no suponen ninguna garantía en cuanto al perfil de riesgo futuro.
- La categoría indicada podrá evolucionar con el tiempo.
- La categoría de riesgo más bajo no significa que tenga "riesgo cero".
- No existe ninguna garantía ni mecanismo de protección del capital.
### El inversor debe ser consciente de los siguientes riesgos importantes que no siempre son considerados adecuadamente por el indicador:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
- Riesgos vinculados con los países emergentes: los países emergentes pueden presentar incertidumbres políticas, legales y fiscales u otros acontecimientos que pueden impactar negativamente a los activos del fondo. Los activos tratados en dichos países presentan movimientos de mercado potencialmente más rápidos que los registrados en los principales mercados internacionales, así como diferencias de cotización que pueden aumentar considerablemente en determinadas circunstancias de mercado. Estos activos pueden resultar menos líquidos e incluso no poder ser vendidos rápidamente a precios razonables. Las variaciones de los cursos de las monedas de los países emergentes pueden ser bruscas e importantes.
- Riesgo de liquidez: el fondo invierte en instrumentos financieros y/o segmentos de mercado que se consideran menos líquidos. Como resultado, estos instrumentos podrían no venderse rápidamente y/o a precios razonables. Este riesgo se acentúa en determinadas circunstancias del mercado y/o en caso de reembolsos masivos, que pueden afectar a la rentabilidad del fondo. | # RISK AND REWARD PROFILE
Lower risk Higher risk
Potentially lower return Potentially higher return
- The risk level shown reflects the fund's historical volatility, completed where applicable by that of its reference framework. The volatility indicates the extent to which the value of the fund may fluctuate upwards or downwards.
- The historical data may not be a reliable indication for the future.
- The indicated category may vary over time.
- The lowest category does not mean "risk-free".
- There is no guarantee or mechanism to protect the capital.
### The investor needs to be aware of the following significant risks which are not necessarily adequately taken into account by the indicator:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
- Emerging countries risk: emerging countries may experience political, legal or fiscal uncertainties or other events that could impact negatively on the assets of the fund. The assets traded in these countries may be subject to market movements that are potentially more rapid than in the major international markets and listing differentials that may be considerably bigger under certain market conditions. These assets may prove to be less liquid and may not be able to be sold quickly and at reasonable prices. Exchange rate fluctuations involving the currencies of emerging countries may be sudden and substantial.
- Liquidity risk: the fund may invest in securities and/or market segments that may be less liquid, in particular in certain market circumstances, with the result that securities cannot be liquidated quickly at reasonable prices. | en | es |
DOLFIN4084 | 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: October 1, 2015.
The reference currency of the Sub-Fund is USD. Past performance was calculated in USD.
6%
4%
2%
0%
-2%
-4%
-6% | ### Fecha de lanzamiento y Moneda de referencia
Fecha de lanzamiento del subfondo: 1 de octubre de 2015. La moneda de referencia del Subfondo es USD.
La rentabilidad pasada se calculó en USD.
6%
4%
2%
0%
-2%
-4%
-6% | ### Launch Date and Currency
Sub-Fund's launch date: October 1, 2015.
The reference currency of the Sub-Fund is USD. Past performance was calculated in USD.
6%
4%
2%
0%
-2%
-4%
-6% | en | es |
DOLFIN4085 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
- The risk category associated with this FCP is not guaranteed and may change over time.
- The lowest category does not mean "risk free".
- The risk category is justified by investing in money market instruments and short-term bonds with very low volatility. Significant risk(s) not taken into account in the indicator which could lead to a drop in the net asset value:
- Risk that the creditworthiness of an issuer may deteriorate or that it may default, potentially causing the value of the instruments in which the SICAVis invested to fall.
| | - Für die mit dem FCP verbundene Risikokategorie besteht keine Garantie und sie kann sich im Laufe der Zeit ändern.
- Die niedrigste Kategorie bedeutet nicht „risikofrei“.
- Die Risikokategorie ergibt sich aus der Anlage in Geldmarktinstrumenten und kurzfristigen Anleihen mit sehr niedriger Volatilität. Wesentliche Risiken, die im Indikator nicht berücksichtigt werden und zu einer Senkung des Nettoinventarwerts führen können:
- Risiko der Herabstufung des Ratings eines Emittenten oder seines Zahlungsausfalls, was zu einem sinkenden Wert der Finanzinstrumente führenkann, die mit ihm verbunden sind.
| | - The risk category associated with this FCP is not guaranteed and may change over time.
- The lowest category does not mean "risk free".
- The risk category is justified by investing in money market instruments and short-term bonds with very low volatility. Significant risk(s) not taken into account in the indicator which could lead to a drop in the net asset value:
- Risk that the creditworthiness of an issuer may deteriorate or that it may default, potentially causing the value of the instruments in which the SICAVis invested to fall.
| | en | de |
DOLFIN4086 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The aim of a hedged Share Class is to provide an Investor with the performance returns of the Fund's investments by reducing the effects of exchange rate fluctuations between the Fund Currency and the Reference Currency. As a result the performance of hedged Share Classes aims to be similar to the performance of equivalent Share Classes in Fund Currency. The hedged Share Class will not remove the interest rate differences between the Fund Currency and Reference Currency as the pricing of the hedging transactions will, at least in part, reflect those interest rate differences. There is no assurance that the hedging strategies employed will be effective in fully eliminating the currency exposure to the Reference Currency thereby delivering performance differentials that are reflective only of interest rate differences adjusted for fees.
It should be noted that, where relevant, these hedging transactions may be entered into whether the Reference Currency is declining or increasing in value relative to the relevant Fund Currency and so, where such hedging is undertaken it may substantially protect Investors in the relevant Share Class against a decrease in the value of the Fund Currency relative to the Reference Currency, but it may also preclude Investors from benefiting from an increase in the value of the Fund Currency.
- Sustainability RisksThe Investment Manager takes sustainability risks into account in the management of each Fund. A sustainability risk is an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of an investment and the returns of the Fund. An example of an environmental risk is the increased likelihood of flooding due to climate change and the associated rise in sea levels. | Das Ziel einer abgesicherten Anteilsklasse besteht darin, dem Anleger die auf der Wertentwicklung beruhende Rendite der Anlagen des Fonds zu bieten, indem die Auswirkungen von Wechselkursschwankungen zwischen der Fondswährung und der Referenzwährung reduziert werden. Infolgedessen soll erreicht werden, dass die Performance der abgesicherten Anteilsklassen der Performance der entsprechenden Anteilsklassen in der Fondswährung entspricht. Die abgesicherte Anteilsklasse beseitigt nicht die Zinsdifferenzen zwischen der Fondswährung und der Referenzwährung, da die Preise der Absicherungsgeschäfte diese Zinsdifferenzen zumindest teilweise widerspiegeln. Es kann nicht gewährleistet werden, dass sich die angewandten Absicherungsstrategien als wirksam erweisen, um das Währungsrisiko gegenüber der Referenzwährung vollständig zu beseitigen und Performancedifferenzen zu liefern, die lediglich die gebührenbereinigten Zinsdifferenzen widerspiegeln.
Diese Absicherungsgeschäfte können, soweit zutreffend, unabhängig davon abgeschlossen werden, ob der Wert der Referenzwährung im Vergleich zu der entsprechenden Fondswährung steigt oder fällt. Deshalb kann eine solche Absicherung den Anleger in der entsprechenden Anteilsklasse gegen einen Wertverlust der Fondswährung gegenüber der Referenzwährung schützen, sie kann aber auch verhindern, dass der Anleger von einer Wertsteigerung der Fondswährung profitiert.
- NachhaltigkeitsrisikenDer Anlageverwalter berücksichtigt Nachhaltigkeitsrisiken bei der Verwaltung der einzelnen Fonds. Ein Nachhaltigkeitsrisiko ist ein Ereignis oder eine Bedingung in den Bereichen Umwelt, Soziales oder Unternehmensführung, dessen beziehungsweise deren Eintreten tatsächlich oder potenziell wesentliche negative Auswirkungen auf den Wert einer Anlage und die Rendite des Fonds haben könnte. Ein Beispiel für ein Umweltrisiko ist die erhöhte Wahrscheinlichkeit von Überschwemmungen aufgrund des Klimawandels und des damit verbundenen Anstiegs des Meeresspiegels. | The aim of a hedged Share Class is to provide an Investor with the performance returns of the Fund's investments by reducing the effects of exchange rate fluctuations between the Fund Currency and the Reference Currency. As a result the performance of hedged Share Classes aims to be similar to the performance of equivalent Share Classes in Fund Currency. The hedged Share Class will not remove the interest rate differences between the Fund Currency and Reference Currency as the pricing of the hedging transactions will, at least in part, reflect those interest rate differences. There is no assurance that the hedging strategies employed will be effective in fully eliminating the currency exposure to the Reference Currency thereby delivering performance differentials that are reflective only of interest rate differences adjusted for fees.
It should be noted that, where relevant, these hedging transactions may be entered into whether the Reference Currency is declining or increasing in value relative to the relevant Fund Currency and so, where such hedging is undertaken it may substantially protect Investors in the relevant Share Class against a decrease in the value of the Fund Currency relative to the Reference Currency, but it may also preclude Investors from benefiting from an increase in the value of the Fund Currency.
- Sustainability RisksThe Investment Manager takes sustainability risks into account in the management of each Fund. A sustainability risk is an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of an investment and the returns of the Fund. An example of an environmental risk is the increased likelihood of flooding due to climate change and the associated rise in sea levels. | en | de |
DOLFIN4087 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
- Les limites mentionnées dans les paragraphes 2.3, 2.4, 2.5, 2.7, 2.8 et 2.9 ci-dessus ne pourront pas être combinées, de sorte que l'exposition à une seule et même entité ne pourra pas dépasser 35 % de l’actif net.
- Les sociétés du Groupe sont considérées comme un seul et même émetteur aux fins des dispositions des paragraphes 2.3, 2.4, 2.5, 2.7, 2.8 et 2.9. Toutefois, une limite de 20 % de l’actif net pourra être appliquée à l'investissement en Valeurs mobilières et Instruments du marché monétaire au sein d’un même groupe.
- Un OPCVM pourra investir jusqu'à 100 % de ses actifs nets dans différentes Valeurs mobilières et différents Instruments monétaires émis ou garantis par un État membre, ses autorités locales, des États non membres ou des organismes publics internationaux dont un ou plusieurs État(s) membre(s) est/sont membre(s). | - Los límites mencionados en los anteriores párrafos 2.3, 2.4, 2.5, 2.7, 2.8 y 2.9 no podrán acumularse, de modo que el riesgo correspondiente a un único organismo no excederá el 35% del activo neto.
- Las empresas del Grupo se considerarán como un único emisor a los efectos de los párrafos 2.3, 2.4, 2.5, 2.7,2.8 y 2.9. No obstante, podrá aplicarse un límite del 20% del activo neto a las inversiones en Valores mobiliarios e Instrumentos del mercado monetario dentro del mismo grupo.
- Un OICVM podrá invertir hasta el 100% del activo neto en diferentes Valores mobiliarios e Instrumentos del mercado monetario emitidos o garantizados por un Estado miembro, sus autoridades locales, Estados no miembros u organismos públicos internacionales de los que sean miembros uno o varios Estados miembros. | - Les limites mentionnées dans les paragraphes 2.3, 2.4, 2.5, 2.7, 2.8 et 2.9 ci-dessus ne pourront pas être combinées, de sorte que l'exposition à une seule et même entité ne pourra pas dépasser 35 % de l’actif net.
- Les sociétés du Groupe sont considérées comme un seul et même émetteur aux fins des dispositions des paragraphes 2.3, 2.4, 2.5, 2.7, 2.8 et 2.9. Toutefois, une limite de 20 % de l’actif net pourra être appliquée à l'investissement en Valeurs mobilières et Instruments du marché monétaire au sein d’un même groupe.
- Un OPCVM pourra investir jusqu'à 100 % de ses actifs nets dans différentes Valeurs mobilières et différents Instruments monétaires émis ou garantis par un État membre, ses autorités locales, des États non membres ou des organismes publics internationaux dont un ou plusieurs État(s) membre(s) est/sont membre(s). | fr | es |
DOLFIN4088 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| ENERGY & METALS ENHANCED ROLL, a subfund of the SICAV BNP PARIBAS EASY Class ''UCITS ETF RH EUR Capitalisation'' - ISIN code LU1547516291 This Fund is managed by BNP PARIBAS ASSET MANAGEMENT Luxembourg, part of the BNP Paribas Group. |
| --- |
| Objectives and investment policy |
| The Fund is an index-tracking passively managed fund. The Fund seeks to replicate (with a maximum tracking error* of 1%) the performance of the BNP Paribas Energy & Metals Enhanced Roll (Hedged in EUR) (TR) (the «Index») by investing in a substitute basket, composed of, inter alia, shares of companies, debt securities or cash (synthetic replication). When investing in a basket of securities called substitute basket the performance is swapped with the performance of the index, generating counterparty risk. *The tracking error is a risk indicator that measures how closely a fund tracks the performance of its reference index. Incomes are systematically reinvested. Investors are able to redeem on a daily basis (on Luxembourg bank business days) as described in the prospectus. This share class aims at hedging the portfolio return from USD to EUR. |
| Risk and reward profile |
| Lower risk Higher risk Other risks materially relevant to the Fund which are not adequately captured by the indicator are described below: Potentially lower rewards Potentially higher rewards - This risk is associated with the ability of a counterparty in an Over The Counter financial transaction to fulfil its commitments like payment, delivery and reimbursement. | | ENERGY & METALS ENHANCED ROLL, un subfondo de la SICAV BNP PARIBAS EASY Clase «UCITS ETF RH EUR Capitalisation» - Código ISIN LU1547516291 Este Fondo está gestionado por BNP PARIBAS ASSET MANAGEMENT Luxembourg, sociedad del Grupo BNP Paribas. |
| --- |
| Objetivos y política de inversión |
| El Fondo es un fondo indexado que se gestiona de forma pasiva. El Fondo pretende replicar (con un error de seguimiento* máximo del 1 %) el rendimiento del BNP Paribas Energy & Metals Enhanced Roll (Hedged in EUR) (TR) (el «Índice») mediante la inversión en una cesta de reemplazo, compuesta, entre otras cosas, por acciones de empresas, valores de deuda o efectivo (replicación sintética). Al invertir en una cesta de valores denominada cesta de reemplazo, el rendimiento se intercambia con el rendimiento del índice, lo que genera riesgo de contraparte. * El error de seguimiento es un indicador de riesgo que mide hasta qué punto un fondo reproduce la rentabilidad de su índice de referencia. Los ingresos se reinvierten sistemáticamente. Los inversores podrán efectuar reembolsos diariamente (los días hábiles bancarios en Luxemburgo), como se describe en el folleto. Esta clase de acciones tiene como objetivo cubrir la rentabilidad de la cartera de USD a EUR. |
| Perfil de riesgo y de rentabilidad |
| Menor riesgo Mayor riesgo Otros riesgos que revisten una importancia significativa para el Fondo y que el indicador no capta de manera adecuada: Rentabilidad potencialmente inferior Rentabilidad potencialmente más elevada - Este riesgo está relacionado con la capacidad de una contraparte de cumplir sus compromisos (como son el pago, la entrega y el reembolso) en una operación financiera extrabursátil. | | ENERGY & METALS ENHANCED ROLL, a subfund of the SICAV BNP PARIBAS EASY Class ''UCITS ETF RH EUR Capitalisation'' - ISIN code LU1547516291 This Fund is managed by BNP PARIBAS ASSET MANAGEMENT Luxembourg, part of the BNP Paribas Group. |
| --- |
| Objectives and investment policy |
| The Fund is an index-tracking passively managed fund. The Fund seeks to replicate (with a maximum tracking error* of 1%) the performance of the BNP Paribas Energy & Metals Enhanced Roll (Hedged in EUR) (TR) (the «Index») by investing in a substitute basket, composed of, inter alia, shares of companies, debt securities or cash (synthetic replication). When investing in a basket of securities called substitute basket the performance is swapped with the performance of the index, generating counterparty risk. *The tracking error is a risk indicator that measures how closely a fund tracks the performance of its reference index. Incomes are systematically reinvested. Investors are able to redeem on a daily basis (on Luxembourg bank business days) as described in the prospectus. This share class aims at hedging the portfolio return from USD to EUR. |
| Risk and reward profile |
| Lower risk Higher risk Other risks materially relevant to the Fund which are not adequately captured by the indicator are described below: Potentially lower rewards Potentially higher rewards - This risk is associated with the ability of a counterparty in an Over The Counter financial transaction to fulfil its commitments like payment, delivery and reimbursement. | en | es |
DOLFIN4089 | 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 Swiss Re Cat Bond Index (TR) between 07/2016-07/2021.
Moderate scenario
What you might get back after costs
Average return each year
EUR 10,415
4.1%
EUR 11,907
3.6% | # Este tipo de escenario se produjo para una inversión Swiss Re Cat Bond Index (TR) entre 07/2016-07/2021.
Escenario moderado
Lo que podría recibir una vez deducidos los costes
Rendimiento promedio cada año
10 415 EUR
4,1%
11 907 EUR
3,6% | # This type of scenario occurred for an investment Swiss Re Cat Bond Index (TR) between 07/2016-07/2021.
Moderate scenario
What you might get back after costs
Average return each year
EUR 10,415
4.1%
EUR 11,907
3.6% | en | es |
DOLFIN4090 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# DESTRUCTION OF DOCUMENTS
- Subject to the Regulations and to any law, rule or regulation, the Depositary of the Company may destroy:
- any Share certificate including bearer Share certificate which has been cancelled, at any time after the expiry of one year from the date of cancellation;
- any payment mandate (including any variation or cancellation of it) or any notification of change of name or address, at any time after the expiry of six years from the date such mandate, variation, cancellation or notification was recorded by the Company;
- any instrument of transfer of Shares which has been registered, at any time after the expiry of six years from the date of registration; and
- any other document on the basis of which any entry in the Register of Shareholders is made or cancelled, at any time after the expiry of twelve years from the date an entry in the register of Shareholders was first made or cancelled in respect of it.
- It shall conclusively be presumed in favour of the Company that every Share certificate so destroyed was a valid certificate duly and properly cancelled and that every instrument of transfer so destroyed was a valid and effective instrument duly and properly registered and that every other document destroyed under this clause 147.1 was a valid and effective document in accordance with the recorded particulars of it in the books or records of the Company, provided always that the document was destroyed in good faith and without express notice to the Company that the preservation of the document was relevant to a claim.
- Nothing contained in this clause shall be construed as imposing upon the Company any liability in respect of the destruction of any document earlier than as provided in this clause or in any case where the conditions of this clause are not fulfilled. References in this clause to the destruction of any document include references to its disposal in any manner. | # VERNICHTUNG VON DOKUMENTEN
- Vorbehaltlich der Verordnungen und Gesetze, Regeln oder Vorschriften darf die Verwahrstelle der Gesellschaft folgendes vernichten:
- einen Anteilschein (einschließlich Inhaberscheine), der annulliert worden ist, und zwar jederzeit nach Ablauf von einem Jahr ab dem Zeitpunkt der Annullierung;
- Zahlungsaufträge (einschließlich jeder Änderung oder Kündigung desselben) sowie Änderungsmitteilungen betreffend Name oder Adresse, und zwar jederzeit nach Ablauf von sechs Jahren ab dem Zeitpunkt, zu dem die Gesellschaft einen solchen Auftrag bzw. eine solche Änderung, Kündigung oder Benachrichtigung registriert hat;
- Urkunden über eine Anteilsübertragung, die registriert worden ist, und zwar jederzeit nach dem Ablauf von sechs Jahren ab dem Zeitpunkt der Registrierung; und
- andere Dokumente auf deren Grundlage Eintragungen im Register der Anteilinhaber gemacht oder gestrichen wurden, und zwar jederzeit nach Ablauf von zwölf Jahren ab dem Zeitpunkt, zu dem ein Eintrag in dem Register der Anteilinhaber zuerst gemacht oder gestrichen worden ist.
- Es wird unwiderleglich zugunsten der Gesellschaft vermutet, dass ein Anteilschein, der auf diese Weise vernichtet wurde, eine gültige Urkunde war, die ordnungs- und formgemäß annulliert worden ist und dass jede auf diese Weise vernichtete Übertragungsurkunde ein rechtsgültiges Dokument war, das ordnungs- und formgemäß eingetragen worden ist, und dass jede andere gemäß dieser Ziffer 147.1 vernichtete Urkunde ein rechtsgültiges Dokument war, in Übereinstimmung mit den in den Geschäftsbüchern oder Unterlagen der Gesellschaft eingetragenen Bestimmungen, stets vorausgesetzt, dass das Dokument in gutem Glauben vernichtet wurde und keine ausdrückliche Mitteilung an die Gesellschaft vorlag, dass die Erhaltung des Dokuments zur Geltendmachung von Ansprüchen erforderlich ist.
- Nichts, was in dieser Ziffer enthalten ist, soll so ausgelegt werden, dass die Gesellschaft wegen der Vernichtung eines Dokuments zu einem früheren Zeitpunkt oder unter anderen Voraussetzungen als in dieser Ziffer vorgesehen haftet. Bezugnahmen in dieser Ziffer auf die Vernichtung eines Dokuments umfassen Bezugnahmen auf jegliche Beseitigung eines Dokuments. | # DESTRUCTION OF DOCUMENTS
- Subject to the Regulations and to any law, rule or regulation, the Depositary of the Company may destroy:
- any Share certificate including bearer Share certificate which has been cancelled, at any time after the expiry of one year from the date of cancellation;
- any payment mandate (including any variation or cancellation of it) or any notification of change of name or address, at any time after the expiry of six years from the date such mandate, variation, cancellation or notification was recorded by the Company;
- any instrument of transfer of Shares which has been registered, at any time after the expiry of six years from the date of registration; and
- any other document on the basis of which any entry in the Register of Shareholders is made or cancelled, at any time after the expiry of twelve years from the date an entry in the register of Shareholders was first made or cancelled in respect of it.
- It shall conclusively be presumed in favour of the Company that every Share certificate so destroyed was a valid certificate duly and properly cancelled and that every instrument of transfer so destroyed was a valid and effective instrument duly and properly registered and that every other document destroyed under this clause 147.1 was a valid and effective document in accordance with the recorded particulars of it in the books or records of the Company, provided always that the document was destroyed in good faith and without express notice to the Company that the preservation of the document was relevant to a claim.
- Nothing contained in this clause shall be construed as imposing upon the Company any liability in respect of the destruction of any document earlier than as provided in this clause or in any case where the conditions of this clause are not fulfilled. References in this clause to the destruction of any document include references to its disposal in any manner. | en | de |
DOLFIN4091 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
#### ANNEXE 2 – DESCRIPTION DES NOTATIONS DES TITRES
La gamme de qualité des investissements d’un Fonds s’étend des titres dont la notation est la plus basse dans lesquels le Fonds peut investir, aux titres dont la notation est la plus élevée (selon Moody’s, S&P ou Fitch, ou, s’ils ne sont pas notés, que le Conseiller en investissement estime de qualité comparable). Les titres sans notation sont traités comme s’ils étaient notés, selon l’opinion du Conseiller en investissement quant à leur similarité aux titres notés. Le pourcentage des actifs d’un Fonds investis dans des titres d’une qualité particulière varie. Vous trouverez ci-dessous une description des notations de Moody’s, S&P et Fitch applicables aux titres à revenu fixe.
Les titres de créance de bonne qualité sont ceux dotés d’une des deux notations les plus élevées (la plus élevée s’applique aux billets de trésorerie) ou, s’ils ne sont pas notés, ceux que le Conseiller en investissement juge de qualité comparable.
Les titres de créance de qualité « Investment Grade » sont ceux dotés d’une des quatre notations les plus élevées ou, s’ils ne sont pas notés, ceux que le Conseiller en investissement juge de qualité comparable.
Les titres inférieurs à la qualité « Investment Grade », à rendement élevé (« Obligations pourries ») (Junk Bonds) sont ceux dotés d’une notation inférieure à Baa de Moody’s ou BBB de S&P ou ayant une cote Fitch équivalente et les titres comparables. Ils ont la réputation d’être éminemment spéculatifs par rapport à la capacité de l’émetteur à rembourser le principal et les intérêts. | ##### ANEXO 2 – DESCRIPCIÓN DE RATINGS DE VALORES
Las inversiones de un Fondo podrán variar en calidad desde valores calificados en la categoría inferior en la que se le hubiera permitido invertir el Fondo, hasta valores calificados en la categoría superior (de acuerdo a las calificaciones de Moody’s, S&P o Fitch, si no estuviesen calificados, al determinar el Asesor de Inversiones que son de una calidad comparable). Los valores no calificados serán tratados como si estuvieran calificados, basándose en el punto de vista del Asesor de Inversiones sobre su comparación con valores calificados. El porcentaje de los activos de un Fondo invertidos en valores de una categoría de calificación en concreto podrá variar. A continuación, se enuncia una descripción de las calificaciones de Moody’s, S&P y Fitch, aplicables a renta fija.
Valores de Deuda de Alta Calidad son aquellos calificados con una de las dos categorías de solvencia o ratings superiores (la categoría superior corresponde al papel comercial) o, en caso de carecer de calificación, considerados de solvencia comparable por el Asesor de Inversiones.
Valores de Deuda con Categoría de Inversión son los calificados con una de las cuatro categorías de solvencia o ratings superiores o, en caso de carecer de calificación, considerados de solvencia comparable por el Asesor de Inversiones.
Valores de Deuda sin Categoría de Inversión o Valores de Elevada Rentabilidad (“Bonos basura”) son aquellos a los que se han otorgado calificaciones inferiores a Baa por Moody’s o a BBB por S&P o una calificación equivalente de Fitch, así como valores comparables. Se consideran predominantemente especulativos en cuanto a la capacidad del emisor para devolver el principal y pagar los intereses. | #### ANNEXE 2 – DESCRIPTION DES NOTATIONS DES TITRES
La gamme de qualité des investissements d’un Fonds s’étend des titres dont la notation est la plus basse dans lesquels le Fonds peut investir, aux titres dont la notation est la plus élevée (selon Moody’s, S&P ou Fitch, ou, s’ils ne sont pas notés, que le Conseiller en investissement estime de qualité comparable). Les titres sans notation sont traités comme s’ils étaient notés, selon l’opinion du Conseiller en investissement quant à leur similarité aux titres notés. Le pourcentage des actifs d’un Fonds investis dans des titres d’une qualité particulière varie. Vous trouverez ci-dessous une description des notations de Moody’s, S&P et Fitch applicables aux titres à revenu fixe.
Les titres de créance de bonne qualité sont ceux dotés d’une des deux notations les plus élevées (la plus élevée s’applique aux billets de trésorerie) ou, s’ils ne sont pas notés, ceux que le Conseiller en investissement juge de qualité comparable.
Les titres de créance de qualité « Investment Grade » sont ceux dotés d’une des quatre notations les plus élevées ou, s’ils ne sont pas notés, ceux que le Conseiller en investissement juge de qualité comparable.
Les titres inférieurs à la qualité « Investment Grade », à rendement élevé (« Obligations pourries ») (Junk Bonds) sont ceux dotés d’une notation inférieure à Baa de Moody’s ou BBB de S&P ou ayant une cote Fitch équivalente et les titres comparables. Ils ont la réputation d’être éminemment spéculatifs par rapport à la capacité de l’émetteur à rembourser le principal et les intérêts. | fr | es |
DOLFIN4092 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
### Commissions liées aux résultats
valeur de référence ((MSCI World® GDR (EUR)) au cours de la période comptable. Le montant réel dépendra de l'évolution de votre investissement. L'estimation des frais cumulés ci-dessus inclut la moyenne des cinq dernières années.
5 EUR | ### Comisiones en función de la rentabilidad
período de facturación que supere el valor de referencia (MSCI World® GDR (EUR)). El importe real dependerá del rendimiento de su inversión. La estimación anterior de los costes acumulados incluye la media de los últimos cinco años.
5 EUR | ### Commissions liées aux résultats
valeur de référence ((MSCI World® GDR (EUR)) au cours de la période comptable. Le montant réel dépendra de l'évolution de votre investissement. L'estimation des frais cumulés ci-dessus inclut la moyenne des cinq dernières années.
5 EUR | fr | es |
DOLFIN4093 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
## Investment objective and policy
The Sub-Fund uses active management with the aim of investing in companies that generate a positive social and environmental impact alongside a financial return. The Sub-Fund has a thematic investment approach, focusing its investments on companies that contribute positively to one or more UN SDGs related to improved connectivity and sustainable economic growth, for example enhanced productivity, resilient infrastructure, future mobility, data and security.
The selection process involves impact assessment, financial analysis and ESG (Environmental, Social and Governance) analysis. Mainly companies with positive social and environmental impact will qualify for inclusion in the fund. The Sub-Fund has a global investment universe, including emerging markets, that is aligned with long-term societal and environmental trends.
The Sub-Fund applies the Management Company’s norms-based responsible investment criteria that may lead to exclusions as detailed in Part I: "Essential Information regarding the Company", Chapter II: "Information on investments". These exclusion filters relate to both activities and behaviors and are applied to the equity portion of the portfolio. For example, no investments are made in companies that violate Global Compact principles such as human rights protection and environmental preservation.
Further, as a Sub-Fund with sustainable investment objectives, as described in Article 9 of the SFDR, more stringent restrictions are applicable for investments in these companies, involved in activities related to gambling, weapons, adult entertainment, fur & specialty leather, Arctic drilling and shale oil & gas. | ## Obiettivo e politica d'investimento
Il Comparto utilizza una gestione attiva al fine di investire in società che generano un impatto sociale e ambientale positivo unitamente a un rendimento finanziario. Il Comparto adotta un approccio d'investimento tematico, concentrando i suoi investimenti su società che contribuiscono positivamente a uno o più SDG dell'ONU legati al miglioramento della connettività e alla crescita economica sostenibile, ad esempio aumento della produttività, infrastrutture resilienti, mobilità futura, dati e sicurezza.
Il processo di selezione prevede sia la valutazione d’impatto, sia l’analisi finanziaria ed ESG (ambientale, sociale e di governance). Essenzialmente le imprese con un impatto sociale e ambientale positivo sono idonee a essere incluse nel fondo. Il Comparto ha un universo d’investimento globale, compresi i mercati emergenti, che è allineato con le tendenze sociali e ambientali a lungo termine.
Il Comparto applica i criteri d’investimento responsabile basati su norme della Società di gestione, il che può determinare delle esclusioni, come specificato in dettaglio nel Capitolo II: “Informazioni sugli investimenti” della Parte I: “Informazioni essenziali relative alla Società”. Questi filtri di esclusione fanno riferimento ad attività e comportamenti e si applicano alla componente azionaria del portafoglio. Ad esempio, non si effettuano investimenti in società che violino i principi del Global Compact, come la tutela dei diritti umani e la salvaguardia dell’ambiente.
Inoltre, in quanto Comparto con obiettivi d'investimento sostenibile, come descritto nell'articolo 9 dell'SFDR, sono applicate restrizioni più severe agli investimenti in società coinvolte in attività legate al gioco d'azzardo, alle armi, all'intrattenimento per adulti, alle pellicce e alla pelletteria, alla perforazione artica e all'olio e al gas di scisto. | ## Investment objective and policy
The Sub-Fund uses active management with the aim of investing in companies that generate a positive social and environmental impact alongside a financial return. The Sub-Fund has a thematic investment approach, focusing its investments on companies that contribute positively to one or more UN SDGs related to improved connectivity and sustainable economic growth, for example enhanced productivity, resilient infrastructure, future mobility, data and security.
The selection process involves impact assessment, financial analysis and ESG (Environmental, Social and Governance) analysis. Mainly companies with positive social and environmental impact will qualify for inclusion in the fund. The Sub-Fund has a global investment universe, including emerging markets, that is aligned with long-term societal and environmental trends.
The Sub-Fund applies the Management Company’s norms-based responsible investment criteria that may lead to exclusions as detailed in Part I: "Essential Information regarding the Company", Chapter II: "Information on investments". These exclusion filters relate to both activities and behaviors and are applied to the equity portion of the portfolio. For example, no investments are made in companies that violate Global Compact principles such as human rights protection and environmental preservation.
Further, as a Sub-Fund with sustainable investment objectives, as described in Article 9 of the SFDR, more stringent restrictions are applicable for investments in these companies, involved in activities related to gambling, weapons, adult entertainment, fur & specialty leather, Arctic drilling and shale oil & gas. | en | it |
DOLFIN4094 | 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 EUR |
| --- |
| Scénarios Minimum : Il n’existe aucun rendement minimal garanti. Vous pourriez perdre tout ou une partie de votre investissement. | 1 An | 5 Ans (période de détention recommandée) |
| Scénario de tensions | Ce que vous pourriez obtenir après déduction des coûts | 5 500 EUR | 5 810 EUR |
| | Rendement annuel moyen | - 45,06 % | - 10,32 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 8 910 EUR | 8 660 EUR |
| | Rendement annuel moyen | - 10,9% | - 2,85% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 290 EUR | 12 210 EUR |
| | Rendement annuel moyen | 2,86% | 4,07% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 800 EUR | 13 540 EUR |
| | Rendement annuel moyen | 17,91% | 6,24% | | | Período de mantenimiento recomendado: 5 Años Inversión: 10 000 EUR |
| --- |
| Escenarios Mínimo: No hay un rendimiento mínimo garantizado. Podría perder parte o la totalidad de su inversión. | 1 Año | 5 Años (período de mantenimiento recomendado) |
| Escenario de tensión | Lo que puede recibir una vez deducidos los costes | 5 500 EUR | 5 810 EUR |
| | Rendimiento medio cada año | - 45,06 % | - 10,32 % |
| Escenario desfavorable | Lo que puede recibir una vez deducidos los costes | 8 910 EUR | 8 660 EUR |
| | Rendimiento medio cada año | - 10,9% | - 2,85% |
| Escenario moderado | Lo que puede recibir una vez deducidos los costes | 10 290 EUR | 12 210 EUR |
| | Rendimiento medio cada año | 2,86% | 4,07% |
| Escenario favorable | Lo que puede recibir una vez deducidos los costes | 11 800 EUR | 13 540 EUR |
| | Rendimiento medio cada año | 17,91% | 6,24% | | | Période de détention recommandée : 5 Ans Investissement : 10 000 EUR |
| --- |
| Scénarios Minimum : Il n’existe aucun rendement minimal garanti. Vous pourriez perdre tout ou une partie de votre investissement. | 1 An | 5 Ans (période de détention recommandée) |
| Scénario de tensions | Ce que vous pourriez obtenir après déduction des coûts | 5 500 EUR | 5 810 EUR |
| | Rendement annuel moyen | - 45,06 % | - 10,32 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 8 910 EUR | 8 660 EUR |
| | Rendement annuel moyen | - 10,9% | - 2,85% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 290 EUR | 12 210 EUR |
| | Rendement annuel moyen | 2,86% | 4,07% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 800 EUR | 13 540 EUR |
| | Rendement annuel moyen | 17,91% | 6,24% | | fr | es |
DOLFIN4095 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
## In both cases, the Investment Manager’s aim is to outperform the Benchmark.
A Sub-Fund’s Benchmark is used for Performance Measures unless it is explicitly referred to in a Sub-Fund’s individual investment restrictions in Appendix 1, Part B, that the relevant Sub-Fund’s Benchmark is not used for Performance Measures. If a Sub-Fund’s Benchmark should additionally be used for a Sub-Fund’s Portfolio Composition, such case is explicitly referred to in a Sub-Fund’s individual investment restrictions in Appendix 1, Part B.
Due to the active management approach, a Sub-Fund’s Investment Manager may on its sole discretion decide not to acquire certain securities as included in the Benchmark or to acquire securities other than those included in the Benchmark. The composition and weighting of Sub-Fund's assets is neither based on the Benchmark nor on any other benchmark. | ## Dans les deux cas, le Gérant a pour mission de surperformer l’Indice de référence.
L’Indice de référence d’un Compartiment est utilisé pour des Mesures de performance, sauf si les restrictions d’investissement individuelles d’un Compartiment à la Partie B de l’Annexe 1 indiquent clairement que l’Indice de référence du Compartiment en question n’est pas utilisé pour des Mesures de performance. Si l’Indice de référence d’un Compartiment doit par ailleurs être utilisé pour la Composition du portefeuille d’un Compartiment, ce cas est explicitement visé dans les restrictions d’investissement individuelles du Compartiment à la Partie B de l’Annexe 1.
Compte tenu de l’approche de gestion active, le Gérant d’un Compartiment peut décider, à sa seule discrétion, de ne pas acquérir certains titres inclus dans l’Indice de référence ou d’acquérir des titres autres que ceux inclus dans l’Indice de référence. La composition et la pondération des actifs du Compartiment ne sont basées ni sur l’Indice de référence ni sur aucun autre indice de référence. | ## In both cases, the Investment Manager’s aim is to outperform the Benchmark.
A Sub-Fund’s Benchmark is used for Performance Measures unless it is explicitly referred to in a Sub-Fund’s individual investment restrictions in Appendix 1, Part B, that the relevant Sub-Fund’s Benchmark is not used for Performance Measures. If a Sub-Fund’s Benchmark should additionally be used for a Sub-Fund’s Portfolio Composition, such case is explicitly referred to in a Sub-Fund’s individual investment restrictions in Appendix 1, Part B.
Due to the active management approach, a Sub-Fund’s Investment Manager may on its sole discretion decide not to acquire certain securities as included in the Benchmark or to acquire securities other than those included in the Benchmark. The composition and weighting of Sub-Fund's assets is neither based on the Benchmark nor on any other benchmark. | en | fr |
DOLFIN4096 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
| Investment USD 10,000.00 Scenarios 1 year 3 years 5 years (Recommended Holding Period) |
| --- |
| Stress Scenario | What you might get back after costs | USD 7,332.00 | USD 7,481.19 | USD 6,826.96 |
| Average return each year | -26.7% | -9.2% | -7.4% |
| Unfavourable Scenario | What you might get back after costs | USD 10,469.00 | USD 13,158.12 | USD 16,972.38 |
| Average return each year | 4.7% | 9.6% | 11.2% |
| Moderate Scenario | What you might get back after costs | USD 11,651.00 | USD 15,917.77 | USD 21,747.04 |
| Average return each year | 16.5% | 16.8% | 16.8% |
| Favourable Scenario | What you might get back after costs | USD 13,103.00 | USD 19,461.02 | USD 28,153.06 |
| Average return each year | 31.0% | 24.9% | 23.0% | | | Anlage USD 10,000.00 Szenarien 1 Jahr 3 Jahre 5 Jahre (Empfohlene Haltedauer) |
| --- |
| Stressszenario | Was Sie nach Abzug der Kosten erhalten könnten | USD 7,332.00 | USD 7,481.19 | USD 6,826.96 |
| Jährliche Durchschnittsrendite | -26.7% | -9.2% | -7.4% |
| Pessimistisches Szenario | Was Sie nach Abzug der Kosten erhalten könnten | USD 10,469.00 | USD 13,158.12 | USD 16,972.38 |
| Jährliche Durchschnittsrendite | 4.7% | 9.6% | 11.2% |
| Moderates Szenario | Was Sie nach Abzug der Kosten erhalten könnten | USD 11,651.00 | USD 15,917.77 | USD 21,747.04 |
| Jährliche Durchschnittsrendite | 16.5% | 16.8% | 16.8% |
| Optimistisches Szenario | Was Sie nach Abzug der Kosten erhalten könnten | USD 13,103.00 | USD 19,461.02 | USD 28,153.06 |
| Jährliche Durchschnittsrendite | 31.0% | 24.9% | 23.0% | | | Investment USD 10,000.00 Scenarios 1 year 3 years 5 years (Recommended Holding Period) |
| --- |
| Stress Scenario | What you might get back after costs | USD 7,332.00 | USD 7,481.19 | USD 6,826.96 |
| Average return each year | -26.7% | -9.2% | -7.4% |
| Unfavourable Scenario | What you might get back after costs | USD 10,469.00 | USD 13,158.12 | USD 16,972.38 |
| Average return each year | 4.7% | 9.6% | 11.2% |
| Moderate Scenario | What you might get back after costs | USD 11,651.00 | USD 15,917.77 | USD 21,747.04 |
| Average return each year | 16.5% | 16.8% | 16.8% |
| Favourable Scenario | What you might get back after costs | USD 13,103.00 | USD 19,461.02 | USD 28,153.06 |
| Average return each year | 31.0% | 24.9% | 23.0% | | en | de |
DOLFIN4097 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
IFRS 13 'Fair Value Measurement' requires disclosure relating to the fair value hierarchy in which fair value measurements are categorised for assets and liabilities in the Statements of Financial Position. The disclosures are based on a three-level fair value hierarchy for the inputs used in valuation techniques to measure fair value.
The fair value hierarchy has the following levels:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).
Level 3: Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
Investments whose values are based on quoted market prices in active markets and therefore classified within Level 1, include active listed equities. The Company does not adjust the quoted price for these instruments.
Financial instruments that trade in markets that are not considered to be active but are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within Level 2.
The Level 2 amounts above represent outperformance/total swaps. These are priced using a valuation comprising of observable data which tracks the performance of the Reference Index against the performance of the Fund’s underlying equity basket.
The Schedule of investments shows the equities split by level, country of origin and industry group. The derivatives are outperformance/total swaps and forwards. All equities and treasury bills are classified as Level 1 and all outperformance/total swaps and forwards as Level 2.
The level in the fair value hierarchy within which the fair value measurement is categorised in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. For this purpose the significance of an input is assessed against the fair value measurement in its entirety. If a fair value measurement uses observable inputs that require significant adjustment based on unobservable inputs, that measurement is a Level 3 measurement.
The Funds do not have any investments, and have not entered into any transactions, requiring this type of valuation during the financial year. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgement, considering factors specific to the asset or liability. | IFRS 13 „Bemessung des beizulegenden Zeitwerts“ verlangt Angaben zur Zeitwerthierarchie, in der die Zeitwertbewertungen von Vermögenswerten und Verbindlichkeiten in der Bilanz kategorisiert werden. Die Angaben beruhen auf einer dreistufigen Zeitwerthierarchie für die in Bewertungstechniken zur Bewertung des Zeitwerts benutzten Parameter.
Die Zeitwerthierarchie hat folgende Stufen:
Stufe 1: Auf aktiven Märkten für identische Vermögenswerte oder Verbindlichkeiten notierte Preise (unangepasst).
Stufe 2: Bewertungsparameter, die für den Vermögenswert oder die Verbindlichkeit entweder direkt (d. h. als Preise) oder indirekt (d. h. abgeleitet aus Preisen) beobachtbar sind und die nicht der Stufe 1 angehören.
Stufe 3: Bewertungsparameter für den Vermögenswert oder die Verbindlichkeit, die nicht auf beobachtbaren Marktdaten basieren (d. h. nicht beobachtbare Parameter).
Zu den Anlagen, deren Werte auf an aktiven Märkten notierten Marktpreisen basieren und deshalb der Stufe 1 zugeordnet werden, gehören aktiv notierte Aktien. Die Gesellschaft passt den notierten Preis für diese Instrumente nicht an.
Finanzinstrumente, die auf nicht als aktiv geltenden Märkten gehandelt werden, aber anhand von notierten Marktpreisen, Händlernotierungen oder alternativen Preisquellen, unterstützt durch beobachtbare Parameter, bewertet werden, werden der Stufe 2 zugeordnet.
Die obigen Beträge der Stufe 2 stellen Outperformance Swaps/Total Return Swaps dar. Diese werden gemäß den Bewertungsrichtlinien anhand eines auf beobachtbaren Daten basierenden Preismodells bewertet, das die Wertentwicklung des Referenzindex gegenüber der Performance des zugrunde liegenden Aktienkorbs des Fonds abbildet.
In der Aufstellung der Vermögenswerte sind die Aktien nach Stufe, Herkunftsland und Branche aufgeführt. Bei den Derivaten handelt es sich um Outperformance Swaps/Total Return Swaps und Terminkontrakte. Alle Aktien und Treasury Bills sind in Stufe 1 eingestuft und alle Outperformance/Total Return Swaps und Terminkontrakte in Stufe 2.
Die Stufe in der Zeitwerthierarchie, der die Zeitwertbewertung in ihrer Gesamtheit zugeordnet wird, wird anhand des niedrigsten Bewertungsparameters festgelegt, der für die Zeitwertbewertung in ihrer Gesamtheit maßgeblich ist. Zu diesem Zweck wird die Maßgeblichkeit eines Parameters anhand der Zeitwertbewertung in ihrer Gesamtheit beurteilt. Werden bei einer Zeitwertbewertung beobachtbare Parameter verwendet, die aufgrund von nicht beobachtbaren Parametern eine maßgebliche Anpassung erfordern, so ist diese Zeitwertbewertung der Stufe 3 zuzuordnen.
Die Fonds haben im Geschäftsjahr keine Anlagen oder Transaktionen getätigt, die diese Art von Bewertung erfordern würden. Die Beurteilung der Maßgeblichkeit eines bestimmten Parameters für die Zeitwertbewertung in ihrer Gesamtheit erfordert Urteilsvermögen und die Abwägung von Faktoren, die für den Vermögenswert oder die Verbindlichkeit spezifisch sind. | IFRS 13 'Fair Value Measurement' requires disclosure relating to the fair value hierarchy in which fair value measurements are categorised for assets and liabilities in the Statements of Financial Position. The disclosures are based on a three-level fair value hierarchy for the inputs used in valuation techniques to measure fair value.
The fair value hierarchy has the following levels:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).
Level 3: Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
Investments whose values are based on quoted market prices in active markets and therefore classified within Level 1, include active listed equities. The Company does not adjust the quoted price for these instruments.
Financial instruments that trade in markets that are not considered to be active but are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within Level 2.
The Level 2 amounts above represent outperformance/total swaps. These are priced using a valuation comprising of observable data which tracks the performance of the Reference Index against the performance of the Fund’s underlying equity basket.
The Schedule of investments shows the equities split by level, country of origin and industry group. The derivatives are outperformance/total swaps and forwards. All equities and treasury bills are classified as Level 1 and all outperformance/total swaps and forwards as Level 2.
The level in the fair value hierarchy within which the fair value measurement is categorised in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. For this purpose the significance of an input is assessed against the fair value measurement in its entirety. If a fair value measurement uses observable inputs that require significant adjustment based on unobservable inputs, that measurement is a Level 3 measurement.
The Funds do not have any investments, and have not entered into any transactions, requiring this type of valuation during the financial year. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgement, considering factors specific to the asset or liability. | en | de |
DOLFIN4098 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
#### Note 13 - Subsequent events
War in Ukraine
On 21st February 2022, the President of the Russian Federation signed a decree recognizing the “independence and sovereignty” of the non-government-controlled areas of the Donetsk and Luhansk oblasts of Ukraine, and ordered the Russian armed forces into those areas.
On 24th February 2022, the President of the Russian Federation announced a military operation in Ukraine and Russian armed forces began an attack on Ukraine, in violation of the territorial integrity, sovereignty and independence of Ukraine.
In response to the recognition of the two breakaway republics and the Russian invasion of Ukraine, the international community started to roll out sanctions against Russia, Russian companies and individuals.
The Company is monitoring the situation with particular attention to the latest approved international financial sanctions closely.
At the date of approval of these financial statements, the Board of Directors of the Company, to the best of its knowledge and considering the swiftly evolving situation, deems the events aforementioned as non-affecting the going concern of the Company and the financial statements as of 31st December 2021.
-
#### - Risk management | #### Nota 13 - Eventi posteriori alla chiusura
Guerra in Ucraina
Il 21 febbraio 2022 il Presidente della Federazione Russa ha firmato un decreto che riconosce "l'indipendenza e la sovranità" delle aree non controllate dal governo delle oblast di Donetsk e Luhansk in Ucraina e ha ordinato alle forze armate russe di entrare in quelle aree.
Il 24 febbraio 2022 il Presidente della Federazione Russa ha annunciato un'operazione militare in Ucraina e le forze armate russe hanno iniziato un attacco contro l'Ucraina, in violazione dell'integrità territoriale, della sovranità e dell'indipendenza dell'Ucraina.
In risposta al riconoscimento delle due repubbliche separatiste e all'invasione russa dell'Ucraina, la comunità internazionale ha iniziato a introdurre sanzioni contro la Russia, le imprese russe e i cittadini russi.
La Società sta monitorando da vicino la situazione con particolare attenzione alle ultime sanzioni finanziarie internazionali approvate.
Alla data di approvazione del presente bilancio, il Consiglio di Amministrazione della Società, per quanto a sua conoscenza e considerata la situazione in rapida evoluzione, ritiene che gli eventi sopra citati non incidano sulla continuità aziendale della Società e sul bilancio al 31 dicembre 2021.
-
#### - Gestione del rischio | #### Note 13 - Subsequent events
War in Ukraine
On 21st February 2022, the President of the Russian Federation signed a decree recognizing the “independence and sovereignty” of the non-government-controlled areas of the Donetsk and Luhansk oblasts of Ukraine, and ordered the Russian armed forces into those areas.
On 24th February 2022, the President of the Russian Federation announced a military operation in Ukraine and Russian armed forces began an attack on Ukraine, in violation of the territorial integrity, sovereignty and independence of Ukraine.
In response to the recognition of the two breakaway republics and the Russian invasion of Ukraine, the international community started to roll out sanctions against Russia, Russian companies and individuals.
The Company is monitoring the situation with particular attention to the latest approved international financial sanctions closely.
At the date of approval of these financial statements, the Board of Directors of the Company, to the best of its knowledge and considering the swiftly evolving situation, deems the events aforementioned as non-affecting the going concern of the Company and the financial statements as of 31st December 2021.
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#### - Risk management | en | it |
DOLFIN4099 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
The Eleva European Selection Fund predominantly invests its net assets in the equity of corporate issuers with their registered office in Europe.
The Eleva European Selection Fund is PEA (Plan d’Epargne en Actions) eligible in France until September 30, 2021. As of October 1, 2021, the Eleva European Selection Fund will no longer be PEA eligible.
The Eleva European Selection Fund may invest up to 5% of its net assets in Russian equities or equity related securities.
The Eleva European Selection Fund will not invest in Turkish equities or equity related securities.
The Eleva European Selection Fund may subscribe and hold Shares issued by one or more other Sub- Funds, which in total amounts to a maximum of 10% of its Net Asset Value.
In order to comply with the reformed German Investment Tax Act 2018, the Eleva European Selection Fund will invest a minimum of 90% of its gross assets in equity participations (as defined in the German Investment Tax Act 2018).
The Eleva European Selection Fund is actively managed with reference to the Relevant Benchmark. However, the Management Company is not constrained by the Relevant Benchmark in its investment decisions; it is free to select securities which are part, or not, of the Relevant Benchmark. The Sub-Fund’s holdings and the weightings of securities in the portfolio will consequently deviate from the composition of the Relevant Benchmark. The composition of the portfolio may be close to the Relevant Benchmark composition in very specific circumstances that will be rare and temporary by nature that could lead the Management Company to temporarily align the Sub-Fund’s portfolio composition with its Relevant Benchmark. The Relevant Benchmark has been internally chosen for performance comparison (incl. the calculation of the performance fees – see point 13 below) and risk measurement purposes. The Relevant Benchmark’s provider is authorised by the ESMA. The Relevant Benchmark represents large, mid and small capitalization companies across 17 countries of the European region: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom.
In managing the Eleva European Selection Fund, the Management Company will only invest on an ancillary basis in FDIs such as index or sector futures, options on securities and potentially CFDs, for hedging or for efficient portfolio management purposes. | Le Compartiment Eleva European Selection Fund investit principalement son actif net dans les actions de sociétés émettrices dont le siège social est situé en Europe.
Le Compartiment Eleva European Selection Fund est éligible au plan d’épargne en actions (PEA) en France jusqu’au 30 septembre 2021. Au 1er octobre 2021, le Compartiment Eleva European Selection Fund ne sera plus éligible au PEA.
Le Compartiment Eleva European Selection Fund peut investir jusqu’à 5 % de son actif net en actions russes et en titres apparentés.
Le Compartiment Eleva European Selection Fund n’investira pas dans des actions ou des titres liés à des actions turcs.
Le Compartiment Eleva European Selection Fund peut souscrire ou détenir des Actions émises par un ou plusieurs autres Compartiments dans la limite cumulative de 10 % de sa Valeur nette d’inventaire.
Afin de se conformer à la réforme de la Loi allemande sur la fiscalité de l’investissement de 2018, le Compartiment Eleva European Selection Fund investira au moins 90 % de son actif brut en actions (tel que défini dans la Loi allemande sur la fiscalité des investissements, 2018).
Le Compartiment Eleva European Selection Fund fait l’objet d’une gestion active et sa performance est comparée à l’Indice de référence. Néanmoins, la Société de gestion est libre de sélectionner des titres indépendamment de leur appartenance à l’Indice de référence, ce qui lui laisse toute latitude dans ses décisions d’investissement. En conséquence, les positions du Compartiment et la pondération des titres dans le portefeuille s’écarteront de la composition de l’Indice de référence. Dans des circonstances très spécifiques, rares et temporaires par nature, la Société de gestion peut être amenée à aligner étroitement la composition du portefeuille du Compartiment sur celle de son Indice de référence. L’Indice de référence a été choisi en interne à des fins de comparaison de performance (en incluant le calcul des commissions de performance — se reporter au point 13 ci-dessous) et d’évaluation du risque. Le fournisseur de l’Indice de référence est agréé par l’ESMA. L’Indice de référence représente des sociétés de grande, moyenne et petite capitalisations à travers 17 pays européens : Allemagne, Autriche, Belgique, Danemark, Espagne, Finlande, France, Irlande, Italie, Luxembourg, Norvège, Pays-Bas, Pologne, Portugal, Royaume-Uni, Suède et Suisse.
Pour la gestion du Compartiment Eleva European Selection Fund, la Société de gestion investira uniquement à titre accessoire en IFD tels que des Futures sur indice ou sectoriels, en options sur actions et éventuellement en CFD à des fins de couverture ou de gestion efficace de portefeuille. | The Eleva European Selection Fund predominantly invests its net assets in the equity of corporate issuers with their registered office in Europe.
The Eleva European Selection Fund is PEA (Plan d’Epargne en Actions) eligible in France until September 30, 2021. As of October 1, 2021, the Eleva European Selection Fund will no longer be PEA eligible.
The Eleva European Selection Fund may invest up to 5% of its net assets in Russian equities or equity related securities.
The Eleva European Selection Fund will not invest in Turkish equities or equity related securities.
The Eleva European Selection Fund may subscribe and hold Shares issued by one or more other Sub- Funds, which in total amounts to a maximum of 10% of its Net Asset Value.
In order to comply with the reformed German Investment Tax Act 2018, the Eleva European Selection Fund will invest a minimum of 90% of its gross assets in equity participations (as defined in the German Investment Tax Act 2018).
The Eleva European Selection Fund is actively managed with reference to the Relevant Benchmark. However, the Management Company is not constrained by the Relevant Benchmark in its investment decisions; it is free to select securities which are part, or not, of the Relevant Benchmark. The Sub-Fund’s holdings and the weightings of securities in the portfolio will consequently deviate from the composition of the Relevant Benchmark. The composition of the portfolio may be close to the Relevant Benchmark composition in very specific circumstances that will be rare and temporary by nature that could lead the Management Company to temporarily align the Sub-Fund’s portfolio composition with its Relevant Benchmark. The Relevant Benchmark has been internally chosen for performance comparison (incl. the calculation of the performance fees – see point 13 below) and risk measurement purposes. The Relevant Benchmark’s provider is authorised by the ESMA. The Relevant Benchmark represents large, mid and small capitalization companies across 17 countries of the European region: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom.
In managing the Eleva European Selection Fund, the Management Company will only invest on an ancillary basis in FDIs such as index or sector futures, options on securities and potentially CFDs, for hedging or for efficient portfolio management purposes. | en | fr |
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