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DOLFIN700 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
### NORMS-BASED ASSESSMENT AND EXCLUSIONS APPLICABLE TO CORPORATE ISSUERS
With the purpose of reducing ESG associated risks and in order to take account of far-reaching societal changes, the Sub-Fund aims to exclude companies that fall under Candriam’s SRI Exclusion Policy.
This policy aims to exclude companies that:
- do not meet the criteria of a normative exclusion filter that takes account of compliance with international standards concerning social, human and environmental rights and the fight against corruption, such as set out in the United Nations Global Compact and the ‘OECD's Guidelines for Multinational Enterprises’. This filter aims at excluding companies that are repeatedly and materially in breach of any of these principles. Furthermore, companies that present both material and severe structural risks in terms of environmental, social and governance factors are excluded from the fund, and/or
- are significantly exposed to controversial activities linked in particular to tobacco, steam coal, weapons and the production of nonconventional oil and gas. The strategy does not invest in companies that manufacture, use or hold anti-personnel mines, cluster bombs, chemical, biological, white phosphorus, depleted uranium and nuclear weapons; and/or
- Are exposed to countries considered as highly oppressive regimes. | ### EVALUACIÓN BASADA EN NORMAS Y EXCLUSIONES APLICABLES A LOS EMISORES CORPORATIVOS
Con el fin de reducir los riesgos en materia ESG y tener en cuenta los cambios sociales de gran alcance, el Subfondo trata de excluir a las empresas que entran en la Política de exclusión de ISR de Candriam.
Esta política tiene por objetivo excluir empresas que:
- no cumplan los criterios de un filtro de exclusión normativo que tenga en cuenta el cumplimiento de las normas internacionales relativas a los derechos sociales, humanos y ambientales y la lucha contra la corrupción, como se establece en el Pacto Mundial de las Naciones Unidas y las Directrices de la OCDE para Empresas Multinacionales. Este filtro pretende excluir a las empresas que incumplan repetida y materialmente cualquiera de estos principios. Además, quedan excluidas del fondo las empresas que presentan riesgos estructurales importantes y graves en términos de factores medioambientales, sociales y de gobernanza, y/o
- están expuestas de forma significativa a actividades controvertidas relacionadas en particular con el tabaco, el carbón de vapor, las armas y la producción de petróleo y gasno convencionales. La estrategia no invierte en empresas que fabriquen, utilicen o posean minas antipersona, bombas de racimo, armas químicas, biológicas, de fósforo blanco, de uranio empobrecido y nucleares; o
- estén expuestas a países considerados con un régimen muy opresivo. | ### NORMS-BASED ASSESSMENT AND EXCLUSIONS APPLICABLE TO CORPORATE ISSUERS
With the purpose of reducing ESG associated risks and in order to take account of far-reaching societal changes, the Sub-Fund aims to exclude companies that fall under Candriam’s SRI Exclusion Policy.
This policy aims to exclude companies that:
- do not meet the criteria of a normative exclusion filter that takes account of compliance with international standards concerning social, human and environmental rights and the fight against corruption, such as set out in the United Nations Global Compact and the ‘OECD's Guidelines for Multinational Enterprises’. This filter aims at excluding companies that are repeatedly and materially in breach of any of these principles. Furthermore, companies that present both material and severe structural risks in terms of environmental, social and governance factors are excluded from the fund, and/or
- are significantly exposed to controversial activities linked in particular to tobacco, steam coal, weapons and the production of nonconventional oil and gas. The strategy does not invest in companies that manufacture, use or hold anti-personnel mines, cluster bombs, chemical, biological, white phosphorus, depleted uranium and nuclear weapons; and/or
- Are exposed to countries considered as highly oppressive regimes. | en | es |
DOLFIN701 | 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 FUND - Twelve Insurance Best Ideas Fund - I Accumulating (USD) between 31/10/2016-31/10/2021.
Favourable scenario
What you might get back after costs
Average return each year
USD 12,767
27.7%
USD 14,441
7.6% | # Este tipo de escenario se produjo para una inversión Twelve Capital FUND - Twelve Insurance Best Ideas Fund - I Accumulating (USD) entre 31/10/2016-31/10/2021.
Escenario favorable
Lo que podría recibir una vez deducidos los costes
Rendimiento promedio cada año
12 767 USD
27,7%
14 441 USD
7,6% | # This type of scenario occurred for an investment Twelve Capital FUND - Twelve Insurance Best Ideas Fund - I Accumulating (USD) between 31/10/2016-31/10/2021.
Favourable scenario
What you might get back after costs
Average return each year
USD 12,767
27.7%
USD 14,441
7.6% | en | es |
DOLFIN702 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# PRINCIPAUX FACTEURS DE RISQUES
Le Fonds est soumis à une série de risques, notamment:
Risque de marché: Le Fonds est soumis aux fluctuations normales du marché et aux risques liés aux investissements sur les marchés internationaux des valeurs mobilières.
Risque lié à l’investissement: La valeur d’un investissement peut fluctuer à la baisse comme à la hausse, et les investisseurs peuvent ne pas récupérer la totalité du capital initialement investi.
Risque politique: Le Fonds investit dans des marchés où le risque économique et le risque réglementaire peuvent être importants.
Absence de garantie du capital: Les rendements positifs ne sont pas garantis et aucune forme de protection du capital ne s’applique.
Risque de change: Le Fonds peut acquérir des actifs dans des devises autres que la devise de référence du Fonds et, par conséquent, la valeur des investissements du Fonds peut augmenter ou diminuer en raison des variations des taux de change.
Risque de couverture: En ce qui concerne les classes d’actions couvertes (H), la valeur d’investissement du Fonds dans des instruments dérivés dépend principalement de la performance de l’actif sous-jacent. Un faible mouvement de la valeur de l’actif sous-jacent peut entraîner un fort mouvement de la valeur de l’instrument dérivé. Rien ne garantit que la couverture du Fonds contre l’évolution des taux de change sera efficace.
De plus amples informations sur les risques en général sont disponibles au chapitre « Facteurs de risque » du prospectus. | # PRINCIPALES FACTORES DE RIESGO
El Fondo está sujeto a una serie de riesgos que incluyen:
Riesgo de mercado: El Fondo está sujeto a las fluctuaciones normales de los mercados y a los riesgos asociados a la inversión en mercados de valores internacionales.
Riesgo de inversión: El valor de las inversiones puede disminuir o aumentar y existe la posibilidad de que los inversores no recuperen el importe invertido originalmente.
Riesgo político: El Fondo invierte en mercados donde los riesgos económicos y regulatorios pueden ser significativos.
Sin garantía de capital: Los rendimientos positivos no están garantizados y no se aplica ninguna forma de protección de capital.
Riesgo cambiario: El Fondo puede adquirir activos en divisas distintas de la moneda de denominación del Fondo y, por ello, el valor de las inversiones del Fondo puede aumentar o disminuir debido a las oscilaciones de los tipos de cambio.
Riesgo de cobertura: Con respecto a las clases de acciones con cobertura, el valor de la inversión del Fondo en derivados depende principalmente del rendimiento del activo subyacente. Un pequeño movimiento en el valor del activo subyacente puede causar un gran movimiento en el valor del derivado. No existe ninguna garantía de que el uso por parte del Fondo de la cobertura para protegerse contra las fluctuaciones de los tipos de cambio de divisas tenga éxito.
Para más información sobre los riesgos en general consulte la sección «Factores de riesgo» del folleto. | # PRINCIPAUX FACTEURS DE RISQUES
Le Fonds est soumis à une série de risques, notamment:
Risque de marché: Le Fonds est soumis aux fluctuations normales du marché et aux risques liés aux investissements sur les marchés internationaux des valeurs mobilières.
Risque lié à l’investissement: La valeur d’un investissement peut fluctuer à la baisse comme à la hausse, et les investisseurs peuvent ne pas récupérer la totalité du capital initialement investi.
Risque politique: Le Fonds investit dans des marchés où le risque économique et le risque réglementaire peuvent être importants.
Absence de garantie du capital: Les rendements positifs ne sont pas garantis et aucune forme de protection du capital ne s’applique.
Risque de change: Le Fonds peut acquérir des actifs dans des devises autres que la devise de référence du Fonds et, par conséquent, la valeur des investissements du Fonds peut augmenter ou diminuer en raison des variations des taux de change.
Risque de couverture: En ce qui concerne les classes d’actions couvertes (H), la valeur d’investissement du Fonds dans des instruments dérivés dépend principalement de la performance de l’actif sous-jacent. Un faible mouvement de la valeur de l’actif sous-jacent peut entraîner un fort mouvement de la valeur de l’instrument dérivé. Rien ne garantit que la couverture du Fonds contre l’évolution des taux de change sera efficace.
De plus amples informations sur les risques en général sont disponibles au chapitre « Facteurs de risque » du prospectus. | fr | es |
DOLFIN703 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# The foregoing list of risk factors does not purport to be a complete enumeration or explanation of the risks involved in purchasing Shares. Prospective investors should read this entire Prospectus and the Relevant Supplements and consult with their own advisers before deciding whether to purchase Shares.
-
# Additional risks when investing in sub-funds tracking a fixed income index
- Sovereign single issuer riskCertain sub-funds are allowed to track the performance of an index composed of bonds issued by one single sovereign issuer. While the legal risk spreading rules allow such investments provided that securities are diversified with respect to at least 6 different issues, it is likely that if the sovereign issuer defaults under one issue of bonds, it will also be defaulting on other issues of bonds, thus causing the total loss of the investment of the relevant sub-fund. | # La liste des facteurs de risque ci-dessus ne prétend pas être une énumération ou une explication exhaustive des risques associés à l’achat d’Actions. Les investisseurs potentiels sont invités à lire le présent Prospectus et les Suppléments applicables y afférents dans leur intégralité et à consulter leurs conseillers avant de décider de souscrire des Actions.
-
# Risques supplémentaires liés à un investissement dans des compartiments suivant un indice obligataire
- Risque lié à un émetteur souverain uniqueCertains compartiments sont autorisés à répliquer la performance d'un indice composé d'obligations émises par un émetteur souverain unique. Même si les règles de diversification des risques prévues par la législation autorisent de tels investissements à condition que les titres relèvent d'au moins 6 émissions différentes, il est probable que si l'émetteur souverain se trouve en défaut de paiement dans le cadre d'une émission, il en sera de même pour les autres émissions, avec à la clé la perte totale des investissements du compartiment concerné. | # The foregoing list of risk factors does not purport to be a complete enumeration or explanation of the risks involved in purchasing Shares. Prospective investors should read this entire Prospectus and the Relevant Supplements and consult with their own advisers before deciding whether to purchase Shares.
-
# Additional risks when investing in sub-funds tracking a fixed income index
- Sovereign single issuer riskCertain sub-funds are allowed to track the performance of an index composed of bonds issued by one single sovereign issuer. While the legal risk spreading rules allow such investments provided that securities are diversified with respect to at least 6 different issues, it is likely that if the sovereign issuer defaults under one issue of bonds, it will also be defaulting on other issues of bonds, thus causing the total loss of the investment of the relevant sub-fund. | en | fr |
DOLFIN704 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# These investments are determined by:
- the selection of securities, which results from an in-depth financial analysis of the company, regular meetings with management teams, and close monitoring of business developments. The main criteria used are growth prospects, quality of management, yield and asset value.
- allocating equity exposure to different economic sectors
- allocating equity exposure to different regions Foreign exchange strategy:Up to 25% of the fund’s net assets is exposed to currency risk through the purchase of securities denominated in currencies other than those of the European Economic Area.
The portfolio manager’s decisions regarding exposure to the foreign exchange market are made on the basis of a global macroeconomic analysis, in particular of the outlook for growth, inflation and monetary and fiscal policy of the different economic zones and countries. This research determines the fund's overall level of currency exposure. The fund invests on all international markets, with a focus on Europe.
These investments on the foreign exchange market depend on expectations of changes in different currencies, and follow on from the fund’s currency allocation: This currency allocation results from holding direct investments in securities denominated in foreign currency, or currency derivatives. | # Die Transaktionen werden bestimmt durch:
- die Titelauswahl, die sich aus einer eingehenden Finanzanalyse der Gesellschaft, aus regelmäßigen Treffen mit der Geschäftsleitung und einer strengen Überwachung der Entwicklung des Unternehmens ergibt. Die berücksichtigten Kriterien können insbesondere die Wachstumsaussichten, die Kompetenz des Managements, die Rendite und der Vermögenswert sein.
- die Aufteilung des Aktienexposures nach den verschiedenen Wirtschaftszweigen
- die Aufteilung des Aktienexposures nach den verschiedenen geografischen RegionenWährungsstrategie:Der Fonds ist bis zu höchstens 25% des Nettovermögens dem Wechselkursrisiko in anderen Währungen als jenen des Europäischen Wirtschaftsraums ausgesetzt.
Die Entscheidungen, die vom Fondsmanager in Bezug auf den Währungsmarkt getroffen werden, basieren auf einer globalen makroökonomischen Analyse und insbesondere auf den Aussichten für das Wachstum, die Inflation und die Geld- und Haushaltspolitik der verschiedenen Länder und Wirtschaftsräume. Auf der Grundlage dieser Analysen wird das Gesamtexposure des Fonds in Währungen festgelegt. Der Fonds ist auf allen internationalen Märkten aktiv, vorwiegend auf den europäischen.
Diese Aktivitäten auf dem Währungsmarkt orientieren sich an den Erwartungen für die Entwicklung der verschiedenen Währungen und betreffen insbesondere die Währungsallokation des Fonds. Diese Währungsallokation ergibt sich aus dem Halten von physischen Wertpapieren, die auf ausländische Währungen lauten, oder von Währungsderivaten. | # These investments are determined by:
- the selection of securities, which results from an in-depth financial analysis of the company, regular meetings with management teams, and close monitoring of business developments. The main criteria used are growth prospects, quality of management, yield and asset value.
- allocating equity exposure to different economic sectors
- allocating equity exposure to different regions Foreign exchange strategy:Up to 25% of the fund’s net assets is exposed to currency risk through the purchase of securities denominated in currencies other than those of the European Economic Area.
The portfolio manager’s decisions regarding exposure to the foreign exchange market are made on the basis of a global macroeconomic analysis, in particular of the outlook for growth, inflation and monetary and fiscal policy of the different economic zones and countries. This research determines the fund's overall level of currency exposure. The fund invests on all international markets, with a focus on Europe.
These investments on the foreign exchange market depend on expectations of changes in different currencies, and follow on from the fund’s currency allocation: This currency allocation results from holding direct investments in securities denominated in foreign currency, or currency derivatives. | en | de |
DOLFIN705 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Classification as at 30 June 2020
## Economical Classification of Schedule of Investments
##### Technology 37.01
##### Internet, Software and IT Services 19.63
##### Healthcare 14.89
##### Semiconductor Equipment and Products 5.76
##### Machinery 3.00
##### Industry 2.77
##### Communications 2.56
##### Financial Services 2.01
##### Engineering and Construction 1.80
##### Food and Beverages 1.66
##### Consumer, Non-cyclical 1.58
##### Pharmaceuticals and Biotechnology 1.49
##### Distribution and Wholesale 1.12
##### Automobiles 1.01
###### 96.29
Geographical Classification of Schedule of Investments and Other Net Assets
| AllocationCriteria:GeographicalInvestment%ofNetMarketValuein MMUS$AssetsSub-FundCurrency |
| --- |
| France | 21.14 | 1.95 | 21,141,935 |
| Germany | 84.76 | 7.83 | 84,764,332 |
| Iceland | 13.15 | 1.22 | 13,147,209 |
| Japan | 166.45 | 15.38 | 166,451,323 |
| Taiwan | 22.73 | 2.10 | 22,728,210 |
| The Netherlands | 28.05 | 2.59 | 28,046,236 |
| United Kingdom | 28.90 | 2.67 | 28,904,344 |
| United States of America | 676.76 | 62.55 | 676,758,148 |
| Others | 40.09 | 3.71 | 40,093,349 |
| | 1,082.03 | 100.00 | 1,082,035,086 | | # Aufgliederung zum 30. Juni 2020
## Wirtschaftliche Aufteilung des Wertpapierbestands
#### Technologie 37.01
#### Internet, Software und IT-Dienste 19.63
#### Gesundheitswesen 14.89
#### Halbleitergeräte und -produkte 5.76
#### Maschinen 3.00
#### Industrie 2.77
#### Kommunikation 2.56
#### Finanzdienstleistungen 2.01
#### Bau- und Ingenieurswesen 1.80
#### Nahrungsmittel und Getränke 1.66
#### Nichtzyklische Konsumgüter 1.58
#### Pharmazeutika und Biotechnologie 1.49
#### Vertrieb und Großhandel 1.12
#### Automobile 1.01
##### 96.29
Geografische Aufteilung des Wertpapierbestands und der sonstigen Nettovermögenswerte
| Allokationskriterium:Geografisch | AnlageMIO.USD | %desNettovermög ens | MarktwertinderTeilfondswährung |
| --- | --- | --- | --- |
| Frankreich | 21.14 | 1.95 | 21,141,935 |
| Deutschland | 84.76 | 7.83 | 84,764,332 |
| Island | 13.15 | 1.22 | 13,147,209 |
| Japan | 166.45 | 15.38 | 166,451,323 |
| Taiwan | 22.73 | 2.10 | 22,728,210 |
| Niederlande | 28.05 | 2.59 | 28,046,236 |
| Vereinigtes Königreich | 28.90 | 2.67 | 28,904,344 |
| Vereinigte Staaten | 676.76 | 62.55 | 676,758,148 |
| Andere | 40.09 | 3.71 | 40,093,349 |
| | 1,082.03 | 100.00 | 1,082,035,086 | | # Classification as at 30 June 2020
## Economical Classification of Schedule of Investments
##### Technology 37.01
##### Internet, Software and IT Services 19.63
##### Healthcare 14.89
##### Semiconductor Equipment and Products 5.76
##### Machinery 3.00
##### Industry 2.77
##### Communications 2.56
##### Financial Services 2.01
##### Engineering and Construction 1.80
##### Food and Beverages 1.66
##### Consumer, Non-cyclical 1.58
##### Pharmaceuticals and Biotechnology 1.49
##### Distribution and Wholesale 1.12
##### Automobiles 1.01
###### 96.29
Geographical Classification of Schedule of Investments and Other Net Assets
| AllocationCriteria:GeographicalInvestment%ofNetMarketValuein MMUS$AssetsSub-FundCurrency |
| --- |
| France | 21.14 | 1.95 | 21,141,935 |
| Germany | 84.76 | 7.83 | 84,764,332 |
| Iceland | 13.15 | 1.22 | 13,147,209 |
| Japan | 166.45 | 15.38 | 166,451,323 |
| Taiwan | 22.73 | 2.10 | 22,728,210 |
| The Netherlands | 28.05 | 2.59 | 28,046,236 |
| United Kingdom | 28.90 | 2.67 | 28,904,344 |
| United States of America | 676.76 | 62.55 | 676,758,148 |
| Others | 40.09 | 3.71 | 40,093,349 |
| | 1,082.03 | 100.00 | 1,082,035,086 | | en | de |
DOLFIN706 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
The Management Company’s staff are remunerated solely by the Management Company itself, not by the Portfolios that they manage. H2O has ensured that any variable remuneration, including any deferred portions, is not paid or granted unless it is:
- justified based on the performance of:
- the portfolios,
- the business unit, and
- the person concerned, and | Le personnel de la société de gestion est rémunéré uniquement par la société de gestion elle-même et non par les Portefeuilles qu'elle gère. H2O s'est assuré que toute rémunération variable, y compris toute partie différée, ne soit versée ou octroyée que si elle est :
- Justifiée en fonction des performances de :
- des portefeuilles ;
- de l'unité commerciale, et
- de la personne concernée, et | The Management Company’s staff are remunerated solely by the Management Company itself, not by the Portfolios that they manage. H2O has ensured that any variable remuneration, including any deferred portions, is not paid or granted unless it is:
- justified based on the performance of:
- the portfolios,
- the business unit, and
- the person concerned, and | en | fr |
DOLFIN707 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# What happens if Macquarie Fund Solutions is unable to pay out?
The investor of this Product will not face financial loss due to the default of the investment manager, the Management Company, as the Sub-Fund is considered to be a separate entity with segregated assets.
The SICAV is not part of any investment compensation or guarantee scheme. | # Que se passe-t-il si Macquarie Fund Solutions n'est pas en mesure d’effectuer les versements ?
L'investisseur de ce Produit ne sera pas confronté à une perte financière due à la défaillance du gestionnaire d'investissement, la Société de gestion, car le Compartiment est considéré comme une entité séparée avec des actifs distincts.
La SICAV ne fait partie d'aucun système d'indemnisation ou de garantie quant aux investissements. | # What happens if Macquarie Fund Solutions is unable to pay out?
The investor of this Product will not face financial loss due to the default of the investment manager, the Management Company, as the Sub-Fund is considered to be a separate entity with segregated assets.
The SICAV is not part of any investment compensation or guarantee scheme. | en | fr |
DOLFIN708 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Frais
Les frais que vous acquittez sont utilisés pour régler les coûts d’exploitation du Fonds, y compris les coûts de commercialisation et de distribution. Ces frais réduisent la croissance potentielle de votre investissement.
| Frais ponctuels prélevés avant ou après investissement |
| --- |
| Frais d’entrée | 5,00% |
| Frais de sortie | néant |
| Le pourcentage indiqué est le maximum pouvant être prélevé sur votre capital avant que celui-ci ne soit investi et avant que le revenu de votre investissement ne vous soit distribué. |
| Frais prélevés par le fonds sur une année |
| Frais courants | 1,95% |
| Frais prélevés par le fonds dans certaines circonstances |
| Commission de performance | néant |
| Performances passées |
| --- |
| - EUR Retail Accumulating (IE00BDH6RQ67)
|
| - MSCI India Index
|
Les frais d'entrée et de sortie indiqués correspondent à des maximums. Dans certains cas, vous pourrez payer moins - votre conseiller financier vous renseignera à ce sujet. Un prélèvement anti-dilution peut vous être facturé à l'entrée ou à la sortie de la Société.
Les frais courants reposent sur les frais de l'exercice précédent clos le31 décembre 2020. Ce chiffre peut varier d'un exercice à l'autre en raison de la variabilité des coûts impliqués par l'investissement dans des titres indiens. Il exclut :
- Commission de performance (le Fonds ne facture pas de commissions de performance)
- Coût des opérations de portefeuille, sauf dans les cas où les droits d’entrée/de sortie sont réglés par la Société lors de l’achat ou de la vente de parts dans un autre organisme de placement collectif.
Les investissements dans le Fonds peuvent être vendus pour honorer les frais courants et la valeur de votre investissement dans le Fonds s'en trouvera donc réduite. Ces frais réduisent la croissance potentielle de votre investissement.
Frais d'acquisition : les Actionnaires peuvent être assujettis à des frais d'acquisition qui seront payables au Distributeur et lesdits frais d'acquisition sont calculés au taux maximum de 5,00% des fonds de souscription eu égard au EUR Retail Accumulating.
Frais de sortie : les Actionnaires ne sont pas assujettis à une commission de rachat.
Pour plus d'informations sur les frais, veuillez consulter le prospectus de la Société, disponible à l'adresse suivante : www.utifunds.com.sg.
- La performance de la catégorie d’actions ne réplique pas l’indice du graphique.
- La performance passée ne constitue pas un indicateur fiable des résultats futurs.
- Les chiffres ci-avant indiquent le niveau d’augmentation ou de baisse de valeur de la catégorie d’actions de la Société durant chaque année.
- Les performances passées communiquées ici tiennent compte de l’ensemble des frais et coûts.
- Les performances passées sont calculées en euros.
- La Société a été lancée en septembre, 2014.
- EUR Retail Accumulating a été lancée en 29 août 2016. | # Gastos
Los gastos que soporta el inversor se destinan a sufragar los costes de funcionamiento de la Sociedad, incluidos los gastos de comercialización y distribución. Dichos gastos reducen el potencial de crecimiento de su inversión.
| Gastos no recurrentes cargados antes o después de la inversión |
| --- |
| Comisión de entrada | 5,00% |
| Comisión de salida | Ninguno |
| 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 | 1,95% |
| Gastos detraídos del Fondo en determinadas condiciones específicas |
| Comisión de rentabilidad | Ninguno |
| Rentabilidad histórica |
| --- |
| - EUR Retail Accumulating (IE00BDH6RQ67)
|
| - MSCI India Index
|
Los gastos de entrada y de salida que se indican son cifras máximas. En algunos casos el inversor podría pagar menos; consúltelo con su asesor financiero. Puede aplicarse un cargo por dilución en la entrada o salida de la Sociedad.
La cifra de los gastos corrientes indicados se basa en los gastos correspondientes al ejercicio finalizado el 31 diciembre 2020. Dicha cifra puede variar cada año de manera significativa, dada la variabilidad de los gastos relacionados con la inversión en valores indios. No incluye:
- Comisiones de rentabilidad (el fondo no aplica comisiones de rentabilidad)
- Costes de transacción de la cartera, salvo en el caso de los gastos de entrada o salida soportados por la Sociedad con ocasión de la compra o la venta de participaciones de otro organismo de inversión colectiva.
Podrían venderse inversiones en la Sociedad para hacer frente a los gastos corrientes y el valor de su inversión en la Sociedad disminuiría. Dichos gastos reducen el potencial de crecimiento de su inversión.
Comisión de venta: Los Accionistas podrán estar sujetos a una comisión de venta pagadera al Distribuidor que se calcula como un máximo del 5,00% del importe de suscripción respecto a la EUR Retail Accumulating.
Gastos de salida: no se aplica una comisión de reembolso a los Accionistas.
Si desea más información sobre gastos, consulte el folleto de la Sociedad, el cual puede obtenerse en www.utifunds.com.sg.
- La rentabilidad de la clase de acciones no replica el índice en el gráfico.
- Las rentabilidades históricas no son un indicador fiable de los resultados futuros.
- Los datos que figuran arriba muestran cómo ha subido o bajado la clase de acciones de la Sociedad durante cada año.
- En la rentabilidad histórica mostrada aquí se tienen en cuenta todos los gastos y costes.
- La rentabilidad histórica se calcula en Euro.
- La Sociedad se lanzó en septiembre, 2014.
- EUR Retail Accumulating se lanzó en 29 agosto 2016. | # Frais
Les frais que vous acquittez sont utilisés pour régler les coûts d’exploitation du Fonds, y compris les coûts de commercialisation et de distribution. Ces frais réduisent la croissance potentielle de votre investissement.
| Frais ponctuels prélevés avant ou après investissement |
| --- |
| Frais d’entrée | 5,00% |
| Frais de sortie | néant |
| Le pourcentage indiqué est le maximum pouvant être prélevé sur votre capital avant que celui-ci ne soit investi et avant que le revenu de votre investissement ne vous soit distribué. |
| Frais prélevés par le fonds sur une année |
| Frais courants | 1,95% |
| Frais prélevés par le fonds dans certaines circonstances |
| Commission de performance | néant |
| Performances passées |
| --- |
| - EUR Retail Accumulating (IE00BDH6RQ67)
|
| - MSCI India Index
|
Les frais d'entrée et de sortie indiqués correspondent à des maximums. Dans certains cas, vous pourrez payer moins - votre conseiller financier vous renseignera à ce sujet. Un prélèvement anti-dilution peut vous être facturé à l'entrée ou à la sortie de la Société.
Les frais courants reposent sur les frais de l'exercice précédent clos le31 décembre 2020. Ce chiffre peut varier d'un exercice à l'autre en raison de la variabilité des coûts impliqués par l'investissement dans des titres indiens. Il exclut :
- Commission de performance (le Fonds ne facture pas de commissions de performance)
- Coût des opérations de portefeuille, sauf dans les cas où les droits d’entrée/de sortie sont réglés par la Société lors de l’achat ou de la vente de parts dans un autre organisme de placement collectif.
Les investissements dans le Fonds peuvent être vendus pour honorer les frais courants et la valeur de votre investissement dans le Fonds s'en trouvera donc réduite. Ces frais réduisent la croissance potentielle de votre investissement.
Frais d'acquisition : les Actionnaires peuvent être assujettis à des frais d'acquisition qui seront payables au Distributeur et lesdits frais d'acquisition sont calculés au taux maximum de 5,00% des fonds de souscription eu égard au EUR Retail Accumulating.
Frais de sortie : les Actionnaires ne sont pas assujettis à une commission de rachat.
Pour plus d'informations sur les frais, veuillez consulter le prospectus de la Société, disponible à l'adresse suivante : www.utifunds.com.sg.
- La performance de la catégorie d’actions ne réplique pas l’indice du graphique.
- La performance passée ne constitue pas un indicateur fiable des résultats futurs.
- Les chiffres ci-avant indiquent le niveau d’augmentation ou de baisse de valeur de la catégorie d’actions de la Société durant chaque année.
- Les performances passées communiquées ici tiennent compte de l’ensemble des frais et coûts.
- Les performances passées sont calculées en euros.
- La Société a été lancée en septembre, 2014.
- EUR Retail Accumulating a été lancée en 29 août 2016. | fr | es |
DOLFIN709 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Source des performances : T. Rowe Price. La performance de fonds est calculée à l’aide de la VL officielle avec réinvestissement des distributions, le cas échéant. Les frais de ventes, taxes et autres coûts appliqués localement n’ont pas été déduits, et le cas échéant, réduiront les chitfres des performances.
Les performances de l’Indice MSCI sont affichés avec réinvestissement des dividendes nets.
Le gérant n’est pas contraint par l'indice de référence du fonds, qui est utilisé uniquement à des fins de comparaison.
La politique d'investissement du fonds a été modifiée le 1er octobre 2022 avec l’instauration d’une allocation minimale aux investissements durables. La performance antérieure à cette date a été obtenue sans en tenir compte. | Fuente de la rentabilidad: T. Rowe Price. La rentabilidad de los fondos se calcula usando el VL oficial con reinversión de dividendos, en su caso. No se deducen los cargos por ventas, impuestos y otros costes locales aplicables y, cuando correspondan, reducirán las cifras de rendimiento.
Las rentabilidades del índice MSCI se muestran con los dividendos netos reinvertidos.
El gestor no está limitado por el índice de referencia del fondo, que se utiliza únicamente a efectos de comparación de la rentabilidad.
La política de inversión del fondo cambió el 1 de octubre de 2022, con la inclusión de un compromiso mínimo con las inversiones sostenibles. La rentabilidad anterior a esa fecha se obtuvo sin esta consideración. | Source des performances : T. Rowe Price. La performance de fonds est calculée à l’aide de la VL officielle avec réinvestissement des distributions, le cas échéant. Les frais de ventes, taxes et autres coûts appliqués localement n’ont pas été déduits, et le cas échéant, réduiront les chitfres des performances.
Les performances de l’Indice MSCI sont affichés avec réinvestissement des dividendes nets.
Le gérant n’est pas contraint par l'indice de référence du fonds, qui est utilisé uniquement à des fins de comparaison.
La politique d'investissement du fonds a été modifiée le 1er octobre 2022 avec l’instauration d’une allocation minimale aux investissements durables. La performance antérieure à cette date a été obtenue sans en tenir compte. | fr | es |
DOLFIN710 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
## The percentage of the dilution levy (if collected) shall be calculated as the same for all investors who buy/sell/convert shares of a sub-fund/share class on the same valuation day.
Since an exchange of shares from one Sub-Fund into units of another Sub-Fund is practically a redemption from the original Sub-Fund and an issue of units of the new Sub-Fund, the exchange is included in the above-mentioned net expenditure and net redemptions. It is therefore possible that a dilution levy may be levied on both the repayment of the original Sub-Fund and the investment in the new Sub-Funds. The percentage of the dilution levy shall be the same for all unit-holders who exchange shares of a Sub-Fund on the same valuation date.
Since dilution is directly related to the inflows and outflows of funds into or out of a sub-fund/share class, it is not possible to predict exactly when the dilution will occur. Therefore, it is also not possible to predict exactly how often the management company will have to apply such a dilution levy. | ## Der Prozentsatz der Verwässerungsabgabe (falls erhoben) wird für alle Anleger, die am selben Bewertungstag Anteile eines Teilfonds/einer Anteilsklasse kaufen/verkaufen/umwandeln, gleich angesetzt.
Da ein Umtausch von Anteilen von einem Teilfonds in Anteile eines anderen Teilfonds praktisch eine Rücknahme vom ursprünglichen Teilfonds und eine Ausgabe von Anteilen des neuen Teilfonds ist, wird der Umtausch in die oben genannten Nettoausgaben und Nettorücknahmen einbezogen. Daher ist es möglich, dass sowohl auf die Rückzahlung des ursprünglichen Teilfonds als auch auf die Anlage in den neuen Teilfonds eine Verwässerungsabgabe erhoben wird. Der Prozentsatz der Verwässerungsabgabe ist gleich für alle Anteilinhaber, die Anteile eines Teilfonds am selben Bewertungstag umtauschen.
Da die Verwässerung in direktem Zusammenhang mit den Zu- und Abflüssen von Geldern in beziehungsweise aus einem Teilfonds/einer Anteilsklasse steht, ist es nicht möglich, genau vorherzusagen, wann die Verwässerung eintreten wird. Daher ist es auch nicht möglich, genau vorherzusagen, wie oft die Verwaltungsgesellschaft eine solche Verwässerungsabgabe anwenden muss. | ## The percentage of the dilution levy (if collected) shall be calculated as the same for all investors who buy/sell/convert shares of a sub-fund/share class on the same valuation day.
Since an exchange of shares from one Sub-Fund into units of another Sub-Fund is practically a redemption from the original Sub-Fund and an issue of units of the new Sub-Fund, the exchange is included in the above-mentioned net expenditure and net redemptions. It is therefore possible that a dilution levy may be levied on both the repayment of the original Sub-Fund and the investment in the new Sub-Funds. The percentage of the dilution levy shall be the same for all unit-holders who exchange shares of a Sub-Fund on the same valuation date.
Since dilution is directly related to the inflows and outflows of funds into or out of a sub-fund/share class, it is not possible to predict exactly when the dilution will occur. Therefore, it is also not possible to predict exactly how often the management company will have to apply such a dilution levy. | en | de |
DOLFIN711 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
- Redemption premiumIn respect of the payout of redeemed units, the Management Company shall impose a redemption premium on the net asset value of the redeemed units in accordance with Appendix A "Overview of the sub-fund".
- Conversion feeIn respect of the conversion from one sub-fund to another or from one unit class to another unit class, insofar as this is requested by the Investor, the Management Company shall impose a fee on the net asset value of the original unit class in accordance with Appendix A "Overview of the sub-fund".
-
# Costs and fees payable by the sub-fund
- Fees that are dependent upon the assets | - RücknahmeabschlagFür die Auszahlung zurückgenommener Anteile erhebt die Verwaltungsgesellschaft auf den Nettoinventarwert der zu- rückgegebenen Anteile einen Rücknahmeabschlag gemäss Anhang A "Teilfonds im Überblick".
- UmtauschgebührFür den vom Anleger gewünschten Wechsel von einem Teilfonds in einen anderen bzw. von einer Anteilsklasse in eine andere Anteilsklasse erhebt die Verwaltungsgesellschaft auf den Nettoinventarwert der ursprünglichen Anteilsklasse eine Gebühr gemäss Anhang A "Teilfonds im Überblick".
-
# Kosten und Gebühren zu Lasten des Teilfonds
- Vom Vermögen abhängige Gebühren | - Redemption premiumIn respect of the payout of redeemed units, the Management Company shall impose a redemption premium on the net asset value of the redeemed units in accordance with Appendix A "Overview of the sub-fund".
- Conversion feeIn respect of the conversion from one sub-fund to another or from one unit class to another unit class, insofar as this is requested by the Investor, the Management Company shall impose a fee on the net asset value of the original unit class in accordance with Appendix A "Overview of the sub-fund".
-
# Costs and fees payable by the sub-fund
- Fees that are dependent upon the assets | en | de |
DOLFIN712 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
The Articles provide that the Company may suspend the issue, redemption and conversion of the Shares forthwith, upon the occurrence of an event causing it to enter into liquidation.
Shareholders having requested issue, redemption or conversion of their Shares will be notified in writing of any such suspension within seven days of their request. Shareholders will be promptly informed of the termination of such suspension by (i) a notification in the same form as the notification of the suspension described above and/or (ii) any other alternative or additional means of conveyance of information the Board may deem more appropriate given the circumstances and the interest of the shareholders (e.g. via a website).
- Specific Provisions Regarding the Net Asset Value Determination of MMF Sub-FundsSub-Funds that qualify as MMF shall calculate a Net Asset Value per Share as the difference between the sum of all assets and the sum of all of its liabilities valued as described below, divided by the number of its outstanding Shares. | Lo Statuto prevede che la Società possa sospendere l'emissione, il rimborso e la conversione delle Azioni non appena sopraggiunga un evento tale da causarne la messa in liquidazione.
Gli azionisti che hanno fatto richiesta di emissione, rimborso o conversione di Azioni riceveranno notifica scritta di un'eventuale detta sospensione entro sette giorni dalla data della richiesta. Gli azionisti saranno tempestivamente informati della cessazione della suddetta sospensione mediante
(i) notifica inviata con la stessa modalità della notifica di sospensione sopra descritta e/o (ii) altri mezzi alternativi o supplementari di trasmissione dell'informazione ritenuti più appropriati dal Consiglio di Amministrazione in base alle circostanze e nell'interesse degli azionisti (ad es. tramite un sito web).
- Disposizioni specifiche relative al calcolo del Valore netto d'inventario dei Comparti FCMI Comparti che si qualificano come FCM calcoleranno il Valore netto d'inventario per Azione come la differenza tra la somma di tutti gli attivi e la somma di tutti i passivi, valutati come descritto di seguito, divisa per il numero di Azioni in circolazione. | The Articles provide that the Company may suspend the issue, redemption and conversion of the Shares forthwith, upon the occurrence of an event causing it to enter into liquidation.
Shareholders having requested issue, redemption or conversion of their Shares will be notified in writing of any such suspension within seven days of their request. Shareholders will be promptly informed of the termination of such suspension by (i) a notification in the same form as the notification of the suspension described above and/or (ii) any other alternative or additional means of conveyance of information the Board may deem more appropriate given the circumstances and the interest of the shareholders (e.g. via a website).
- Specific Provisions Regarding the Net Asset Value Determination of MMF Sub-FundsSub-Funds that qualify as MMF shall calculate a Net Asset Value per Share as the difference between the sum of all assets and the sum of all of its liabilities valued as described below, divided by the number of its outstanding Shares. | en | it |
DOLFIN713 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
| Investment: EUR 10,000 |
| --- |
| | If you exit after 1 year | If you exit after 5 years (recommended holding period) |
| Total Costs | 675 EUR | 1934 EUR |
| Annual Cost Impact (*) | 6.75 % | 2.67 % | | | Investimento: EUR 10.000 |
| --- |
| | In caso di uscita dopo 1 anno | In caso di uscita dopo 5 anni (periodo di detenzione raccomandato) |
| Costi totali | 675 EUR | 1934 EUR |
| Incidenza annuale dei costi (*) | 6,75 % | 2,67 % | | | Investment: EUR 10,000 |
| --- |
| | If you exit after 1 year | If you exit after 5 years (recommended holding period) |
| Total Costs | 675 EUR | 1934 EUR |
| Annual Cost Impact (*) | 6.75 % | 2.67 % | | en | it |
DOLFIN714 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Mainland China tax consideration
The Management Company and/or Investment Manager reserve the right to provide for tax on gains of the relevant Sub- Fund that invests in mainland China securities thus impacting the valuation of the relevant Sub-Funds. With the uncertainty of whether and how certain gains on mainland China securities are to be taxed, the possibility of the laws, regulations and practice in mainland China changing, and the possibility of taxes being applied retrospectively, any provision for taxation made by the Management Company and/or the Investment Manager may be excessive or inadequate to meet final mainland China tax liabilities on gains derived from the disposal of mainland China securities. Consequently, investors may be advantaged or disadvantaged depending upon the final outcome of how such gains will be taxed, the level of provision and when they purchased and/or sold their shares in/from the relevant Sub-Fund.
On 14 November 2014, the Ministry of Finance, State of Administration of Taxation and CSRC jointly issued a notice in relation to the taxation rule on Stock Connect under Caishui 2014 No.81 (“Notice No.81”). Under Notice No.81, corporate income tax, individual income tax and business tax will be temporarily exempted on gains derived by Hong Kong and overseas investors (such as the Sub-Funds) on the trading of China A-Shares through Stock Connect with effect from 17 November 2014. However, Hong Kong and overseas investors (such as the Sub-Funds) are required to pay tax on dividends and/or bonus shares at the rate of 10% which will be withheld and paid to the relevant authority by the listed companies. | # Considérations sur les taxes et impôts de Chine continentale
La société de gestion et/ou le gestionnaire de portefeuille se réservent le droit de retenir le montant des taxes et impôts dus sur les gains réalisés par un compartiment qui investirait dans des titres de Chine continentale, affectant ainsi la valorisation du compartiment concerné. Avec l’incertitude de savoir si et comment certains gains sur les titres de Chine continentale seront imposés, la possibilité de modification des lois, règlements et pratiques de Chine continentale, et la possibilité de l’application rétrospective d’impôts, une provision pour impôts constituée par la société de gestion et/ou le gestionnaire de portefeuille peut être excessive ou insuffisante pour couvrir le montant final de l'impôt exigible de Chine continentale sur les gains provenant de la cession de titres de Chine continentale. Par conséquent, les investisseurs peuvent être avantagés ou désavantagés en fonction de la façon dont ces gains seront imposés en définitive, du montant de la provision et du moment de l'achat ou de la vente des titres par le compartiment.
Le 14 novembre 2014, le ministère des Finances, l'administration fiscale et la commission CSRC ont publié un avis conjoint sur les règles d'imposition et de taxation des titres Stock Connect dans le cadre de la circulaire Caishui 2014 n° 81 (l'« avis n° 81 »). L'avis n° 81 prévoit une exonération temporaire de l'impôt sur le revenu des sociétés, de l'impôt sur le revenu des personnes physiques et de la taxe professionnelle sur les gains obtenus par les investisseurs de Hong Kong et de l'étranger (tels que les compartiments) du fait de la négociation d'actions A chinoises à travers le Stock Connect à partir du 17 novembre 2014. Cependant, les investisseurs de Hong Kong et de l'étranger (tels que les compartiments) sont tenus de payer la taxe sur les dividendes et/ou les actions gratuites au taux de 10 %, taxe qui sera retenue et versée aux autorités compétentes par les sociétés cotées. | # Mainland China tax consideration
The Management Company and/or Investment Manager reserve the right to provide for tax on gains of the relevant Sub- Fund that invests in mainland China securities thus impacting the valuation of the relevant Sub-Funds. With the uncertainty of whether and how certain gains on mainland China securities are to be taxed, the possibility of the laws, regulations and practice in mainland China changing, and the possibility of taxes being applied retrospectively, any provision for taxation made by the Management Company and/or the Investment Manager may be excessive or inadequate to meet final mainland China tax liabilities on gains derived from the disposal of mainland China securities. Consequently, investors may be advantaged or disadvantaged depending upon the final outcome of how such gains will be taxed, the level of provision and when they purchased and/or sold their shares in/from the relevant Sub-Fund.
On 14 November 2014, the Ministry of Finance, State of Administration of Taxation and CSRC jointly issued a notice in relation to the taxation rule on Stock Connect under Caishui 2014 No.81 (“Notice No.81”). Under Notice No.81, corporate income tax, individual income tax and business tax will be temporarily exempted on gains derived by Hong Kong and overseas investors (such as the Sub-Funds) on the trading of China A-Shares through Stock Connect with effect from 17 November 2014. However, Hong Kong and overseas investors (such as the Sub-Funds) are required to pay tax on dividends and/or bonus shares at the rate of 10% which will be withheld and paid to the relevant authority by the listed companies. | en | fr |
DOLFIN715 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
## APPENDIX III
EU SECURITIES FINANCING TRANSACTIONS REGULATION
Information contained in Appendix III is valid as at the date of the Prospectus and will be reviewed each time this Prospectus will be updated.
The Appendix shows the maximum and expected use of securities lending transactions, repurchase and reverse repurchase agreements and TRS/CFDs. Notwithstanding the definition of ‘total return swaps’ included under section ‘Derivative Glossary of Terms’ and for the avoidance of doubt, any reference to TRS in this Appendix shall be meant as covering only ‘total return swaps’ as defined under SFTR.
The expected % of the NAV per fund subject to securities lending transactions, repurchase and reverse repurchase agreements and TRS/CFD transactions is in line with the current investment objectives outlined in this prospectus. The expected % is not a limit and may fluctuate between 0% and the maximum % due to factors including, but not limited to, market conditions.
In the event that the % of the NAV per fund to use securities lending transactions repurchase and reverse repurchase agreements and TRS/CFD transactions changes, the Prospectus will be updated accordingly. | ## ANHANG III
EU-VERORDNUNG ÜBER WERTPAPIERFINANZIERUNGSGESCHÄFTE
Die in Anhang III enthaltenen Informationen gelten ab dem Datum des Prospekts und werden jedes Mal, wenn dieser Prospekt aktualisiert wird, überprüft.
Der Anhang zeigt die maximale und die erwartete Nutzung von Wertpapierleihgeschäften, Pensionsgeschäften und umgekehrten Pensionsgeschäften und TRS/CFDs. Ungeachtet der Definition von „Total Return Swaps“ im Abschnitt „Derivate Glossar“ und zur Vermeidung von Zweifeln ist jede Bezugnahme auf TRS in diesem Anhang so zu verstehen, dass sie sich nur auf „Total Return Swaps“ im Sinne der SFTR bezieht.
Der erwartete Prozentsatz des Nettoinventarwerts pro Teilfonds, mit dem Wertpapierleihgeschäfte, Pensionsgeschäfte und umgekehrte Pensionsgeschäfte und TRS/CFD-Transaktionen getätigt werden, ist in Einklang mit den aktuellen Anlagezielen der einzelnen Teilfonds, die in diesem Prospekt dargelegt sind. Der erwartete Prozentsatz ist keine Grenze und kann abhängig von verschiedenen Faktoren, insbesondere den Marktbedingungen, zwischen 0% und dem maximalen Prozentsatz schwanken.
Falls sich der Prozentsatz des Nettoinventarwerts, mit dem Wertpapierleihgeschäfte, Pensionsgeschäfte und umgekehrte Pensionsgeschäfte und TRS/CFD-Transaktionen genutzt werden, ändert, wird der Prospekt entsprechend aktualisiert. | ## APPENDIX III
EU SECURITIES FINANCING TRANSACTIONS REGULATION
Information contained in Appendix III is valid as at the date of the Prospectus and will be reviewed each time this Prospectus will be updated.
The Appendix shows the maximum and expected use of securities lending transactions, repurchase and reverse repurchase agreements and TRS/CFDs. Notwithstanding the definition of ‘total return swaps’ included under section ‘Derivative Glossary of Terms’ and for the avoidance of doubt, any reference to TRS in this Appendix shall be meant as covering only ‘total return swaps’ as defined under SFTR.
The expected % of the NAV per fund subject to securities lending transactions, repurchase and reverse repurchase agreements and TRS/CFD transactions is in line with the current investment objectives outlined in this prospectus. The expected % is not a limit and may fluctuate between 0% and the maximum % due to factors including, but not limited to, market conditions.
In the event that the % of the NAV per fund to use securities lending transactions repurchase and reverse repurchase agreements and TRS/CFD transactions changes, the Prospectus will be updated accordingly. | en | de |
DOLFIN716 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# What is this product?
Type: Shares of a Sub-Fund of MULTI UNITS FRANCE, a SICAV.
Term: The Sub-Fund has an unlimited duration. The Management Company may dissolve the Fund by means of liquidation or merger with another fund in accordance with legal requirements.
AMF Classification ("Autorité des Marchés Financiers"): Eurozone country equities
Objectives:
The Fund is a passively managed index UCITS.
The Fund's management objective is to track, both upwards and downwards, the evolution of the euro-denominated EURO STOXX 50 Net Return Index (net dividends reinvested) ("the Benchmark"), representative of 50 investment grade eurozone securities, while minimising the Tracking Error between the performance of the Fund and that of the Benchmark.
The anticipated level of Tracking Error under normal market conditions is indicated in the Fund's prospectus.
More detailed information on the Benchmark is available at http://www.stoxx.com/indices.
The Fund aims to achieve its objective through direct replication, namely by investing primarily in a basket of assets consisting of the securities comprising the Benchmark and/or eligible financial instruments representing all or part of the securities comprising the Benchmark. In order to optimise tracking of the Benchmark, the Fund may use a sampling technique, as well as guaranteed temporary sales of securities.
Any use of these techniques is indicated on the website amundietf.com. The updated composition of the portfolio of securities held by the Fund is stated on the website amundietf.com.
In order to hedge the currency risk on the dollar (USD), the Fund uses a
daily currency hedging strategy with the aim of reducing the impact of currency risk against the currency of the Benchmark constituents.
In addition, the indicative net asset value is shown on the Reuters and Bloomberg pages of the Fund and can also be stated on the websites of the Fund's listing markets.
The Fund is eligible for the French Equity Savings Plan (PEA) and therefore invests a minimum of 75% of its assets in shares of European Union companies.
Intended retail investors: This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds, seeking to increase the value of their investment over the recommended holding period and who are prepared to take on a high level of risk to their original capital.
Redemption and transaction: Shares may be sold (redeemed) as stated in the prospectus at the respective dealing price (net asset value). Further details are provided in the MULTI UNITS FRANCE prospectus.
In accordance with the prospectus, net income and capital gains from sales may be capitalised or distributed at the discretion of the Management Company.
More information: Further information regarding the Sub-Fund, including the prospectus and financial reports, is available free of charge on request from: Amundi Asset Management - 91-93 boulevard Pasteur, 75015 Paris, France.
The net asset value of this Sub-Fund is available at www.amundi.fr.
Depositary: SOCIETE GENERALE. | # ¿Qué es este producto?
Tipo: Acciones de un Subfondo de MULTI UNITS FRANCE, una SICAV.
Duración: La duración del Subfondo es ilimitada. La sociedad de gestión podrá disolver el Fondo mediante su liquidación o fusión con otro Fondo de acuerdo con los requisitos legales.
Clasificación de la AMF (Autorité des Marchés Financiers): Renta variable de países de la zona euro
Objetivos:
El Fondo es un OICVM de gestión pasiva que replica un índice de referencia.
El objetivo de gestión del Fondo es seguir la evolución, tanto al alza como a la baja, del índice EURO STOXX 50 Net Return (con reinversión de dividendos brutos) en lo sucesivo, el “Índice de referencia”), denominado en euros (EUR), y representativo de los 50 valores más importantes de la zona euro, minimizando al mismo tiempo la diferencia entre el rendimiento del Fondo y el del Índice de referencia (en lo sucesivo, el “Error de seguimiento”).
El nivel previsto de Error de seguimiento en condiciones de mercado normales se indica en el folleto del Fondo.
El sitio web http://www.stoxx.com/indices contiene información más detallada sobre el Índice de referencia.
El Fondo pretende alcanzar su objetivo por medio de una réplica directa invirtiendo principalmente en una cesta de activos formada por títulos que componen el Índice de referencia y/o instrumentos financieros representativos de la totalidad o parte de los títulos que componen el Índice de referencia. Para optimizar la réplica del Índice de referencia, el Fondo podría emplear una estrategia de réplica de muestreo, así como operaciones de cesiones temporales garantizadas por títulos.
El posible uso de estas técnicas se difunde a través del sitio web www.amundietf.com.
Puede consultar la composición actualizada de las participaciones del
Fondo en la web www.amundietf.com.
Con vistas a cubrir el riesgo de cambio del franco suizo (USD), el Fondo utiliza una estrategia de cobertura diaria que reduce el impacto del riesgo de cambio de la divisa de los componentes del Índice de referencia.
Asimismo, el valor liquidativo indicativo se difunde a través de las páginas del Fondo en Reuters y Bloomberg, y es posible que también se difunda a través de las páginas web de las bolsas en las que cotice el Fondo.
El Fondo cumple los requisitos del Plan Francés de Ahorro en Acciones (PEA, por sus siglas en francés) y, por lo tanto, invierte un mínimo del 75 % de sus activos en acciones de empresas de la Unión Europea.
Inversores minoristas a los que va dirigido: Este producto está destinado a inversores con un conocimiento básico y poca o ninguna experiencia en inversiones en fondos, que busquen aumentar el valor de su inversión durante el período de mantenimiento recomendado y que estén dispuestos a asumir un nivel de riesgo alto respecto a su capital inicial.
Reembolso y transacción: Las acciones se pueden vender (reembolsar) según se indica en el folleto al precio de negociación correspondiente (valor liquidativo). Puede encontrar más información en el folleto de MULTI UNITS FRANCE.
Según lo dispuesto en el folleto, los ingresos netos y las plusvalías de las cesiones podrán capitalizarse o distribuirse a discreción de la sociedad de gestión.
Más información: Puede obtener más información sobre este Subfondo, incluidos el folleto y los informes financieros, de forma gratuita, previa solicitud a: Amundi Asset Management - 91-93 boulevard Pasteur, 75015 París, Francia.
El valor liquidativo del Subfondo está disponible en www.amundi.fr.
Depositario: SOCIÉTÉ GÉNÉRALE. | # What is this product?
Type: Shares of a Sub-Fund of MULTI UNITS FRANCE, a SICAV.
Term: The Sub-Fund has an unlimited duration. The Management Company may dissolve the Fund by means of liquidation or merger with another fund in accordance with legal requirements.
AMF Classification ("Autorité des Marchés Financiers"): Eurozone country equities
Objectives:
The Fund is a passively managed index UCITS.
The Fund's management objective is to track, both upwards and downwards, the evolution of the euro-denominated EURO STOXX 50 Net Return Index (net dividends reinvested) ("the Benchmark"), representative of 50 investment grade eurozone securities, while minimising the Tracking Error between the performance of the Fund and that of the Benchmark.
The anticipated level of Tracking Error under normal market conditions is indicated in the Fund's prospectus.
More detailed information on the Benchmark is available at http://www.stoxx.com/indices.
The Fund aims to achieve its objective through direct replication, namely by investing primarily in a basket of assets consisting of the securities comprising the Benchmark and/or eligible financial instruments representing all or part of the securities comprising the Benchmark. In order to optimise tracking of the Benchmark, the Fund may use a sampling technique, as well as guaranteed temporary sales of securities.
Any use of these techniques is indicated on the website amundietf.com. The updated composition of the portfolio of securities held by the Fund is stated on the website amundietf.com.
In order to hedge the currency risk on the dollar (USD), the Fund uses a
daily currency hedging strategy with the aim of reducing the impact of currency risk against the currency of the Benchmark constituents.
In addition, the indicative net asset value is shown on the Reuters and Bloomberg pages of the Fund and can also be stated on the websites of the Fund's listing markets.
The Fund is eligible for the French Equity Savings Plan (PEA) and therefore invests a minimum of 75% of its assets in shares of European Union companies.
Intended retail investors: This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds, seeking to increase the value of their investment over the recommended holding period and who are prepared to take on a high level of risk to their original capital.
Redemption and transaction: Shares may be sold (redeemed) as stated in the prospectus at the respective dealing price (net asset value). Further details are provided in the MULTI UNITS FRANCE prospectus.
In accordance with the prospectus, net income and capital gains from sales may be capitalised or distributed at the discretion of the Management Company.
More information: Further information regarding the Sub-Fund, including the prospectus and financial reports, is available free of charge on request from: Amundi Asset Management - 91-93 boulevard Pasteur, 75015 Paris, France.
The net asset value of this Sub-Fund is available at www.amundi.fr.
Depositary: SOCIETE GENERALE. | en | es |
DOLFIN717 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# SCHEDULE III – DEPOSITARY DELEGATES
The Depositary, as global sub-custodian, has appointed local sub-custodians within the State Street Global Custody Network as listed below, as at the date of this Prospectus. The latest version of this list can be consulted on the website www.mystatestreet.com.
| MARKET | SUBCUSTODIAN |
| --- | --- |
| Albania | Raiffeisen Bank sh.a. |
| Argentina | Citibank, N.A. |
| Australia | The Hongkong and Shanghai Banking Corporation Limited |
| Austria | Deutsche Bank AG |
| UniCredit Bank Austria AG |
| Bahrain | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Bangladesh | Standard Chartered Bank |
| Belgium | Deutsche Bank AG, Netherlands (operating through its Amsterdam branch with support from its Brussels branch) |
| Benin | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Bermuda | HSBC Bank Bermuda Limited |
| Federation of Bosnia and Herzegovina | UniCredit Bank d.d. |
| Botswana | Standard Chartered Bank Botswana Limited |
| Brazil | Citibank, N.A. |
| Bulgaria | Citibank Europe plc, Bulgaria Branch |
| UniCredit Bulbank AD |
| Burkina Faso | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Canada | State Street Trust Company Canada |
| Chile | Itaú CorpBanca S.A. |
| People’s Republic of China | HSBC Bank (China) Company Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| China Construction Bank Corporation |
| China Connect | Citibank N.A. |
| The Hongkong and Shanghai Banking Corporation Limited |
| Standard Chartered Bank (Hong Kong) Limited |
| Colombia | Cititrust Colombia S.A. Sociedad Fiduciaria |
| --- | --- |
| Costa Rica | Banco BCT S.A. |
| Croatia | Privredna Banka Zagreb d.d. |
| Zagrebacka Banka d.d. |
| Cyprus | BNP Paribas Securities Services, S.C.A., Greece (operating through its Athens branch) |
| Czech Republic | Československá obchodní banka, a.s. |
| UniCredit Bank Czech Republic and Slovakia, a.s. |
| Denmark | Nordea Bank AB (publ), Sweden (operating through its subsidiary, Nordea Bank Danmark A/S) |
| Skandinaviska Enskilda Banken AB (publ), Sweden (operating through its Copenhagen branch) |
| Egypt | HSBC Bank Egypt S.A.E. (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Estonia | AS SEB Pank |
| Eswatini (previously known as Swaziland) | Standard Bank Swaziland Limited |
| Finland | Nordea Bank AB (publ), Sweden (operating through its subsidiary, Nordea Bank Finland Plc.) |
| Skandinaviska Enskilda Banken AB (publ), Sweden (operating through its Helsinki branch) |
| France | Deutsche Bank AG, Netherlands (operating through its Amsterdam branch with support from its Paris branch) |
| Republic of Georgia | JSC Bank of Georgia |
| Germany | State Street Bank International GmbH |
| Deutsche Bank AG |
| Ghana | Standard Chartered Bank Ghana Limited |
| Greece | BNP Paribas Securities Services, S.C.A. |
| Guinea-Bissau | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Hong Kong | Standard Chartered Bank (Hong Kong) Limited |
| Hungary | Citibank Europe plc Magyarországi Fióktelepe |
| UniCredit Bank Hungary Zrt. |
| Iceland | Landsbankinn hf. |
| India | Deutsche Bank AG |
| The Hongkong and Shanghai Banking Corporation Limited |
| Indonesia | Deutsche Bank AG |
| Ireland | State Street Bank and Trust Company, United Kingdom branch |
| Israel | Bank Hapoalim B.M. |
| --- | --- |
| Italy | Deutsche Bank S.p.A. |
| Ivory Coast | Standard Chartered Bank Côte d’Ivoire S.A. |
| Japan | Mizuho Bank, Limited |
| The Hongkong and Shanghai Banking Corporation Limited |
| Jordan | Standard Chartered Bank |
| Kazakhstan | JSC Citibank Kazakhstan |
| Kenya | Standard Chartered Bank Kenya Limited |
| Republic of Korea | Deutsche Bank AG |
| The Hongkong and Shanghai Banking Corporation Limited |
| Kuwait | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Latvia | AS SEB banka |
| Lithuania | AB SEB bankas |
| Malawi | Standard Bank Limited |
| Malaysia | Deutsche Bank (Malaysia) Berhad |
| Standard Chartered Bank Malaysia Berhad |
| Mali | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Mauritius | The Hongkong and Shanghai Banking Corporation Limited |
| Mexico | Banco Nacional de México, S.A. |
| Morocco | Citibank Maghreb |
| Namibia | Standard Bank Namibia Limited |
| Netherlands | Deutsche Bank AG |
| New Zealand | The Hongkong and Shanghai Banking Corporation Limited |
| Niger | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Nigeria | Stanbic IBTC Bank Plc. |
| Norway | Nordea Bank AB (publ), Sweden (operating through its subsidiary, Nordea Bank Norge ASA) |
| Skandinaviska Enskilda Banken AB (publ), Sweden (operating through its Oslo branch) |
| Oman | HSBC Bank Oman S.A.O.G. (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Pakistan | Deutsche Bank AG |
| Panama | Citibank, N.A. |
| Peru | Citibank del Perú, S.A. |
| Philippines | Deutsche Bank AG |
| --- | --- |
| Poland | Bank Handlowy w Warszawie S.A. |
| Bank Polska Kasa Opieki S.A |
| Portugal | Deutsche Bank AG, Netherlands (operating through its Amsterdam branch with support from its Lisbon branch) |
| Puerto Rico | Citibank N.A. |
| Qatar | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Romania | Citibank Europe plc, Dublin – Romania Branch |
| Russia | AO Citibank |
| Saudi Arabia | HSBC Saudi Arabia (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Saudi British Bank (as delegate of the Honkong and Shanghai Banking Corporation Limited) |
| Senegal | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Serbia | UniCredit Bank Serbia JSC |
| Singapore | Citibank N.A. |
| United Overseas Bank Limited |
| Slovak Republic | UniCredit Bank Czech Republic and Slovakia, a.s. |
| Slovenia | UniCredit Banka Slovenija d.d. |
| South Africa | FirstRand Bank Limited |
| Standard Bank of South Africa Limited |
| Spain | Deutsche Bank S.A.E. |
| Sri Lanka | The Hongkong and Shanghai Banking Corporation Limited |
| Republic of Srpska | UniCredit Bank d.d. |
| Sweden | Nordea Bank AB (publ) |
| Skandinaviska Enskilda Banken AB (publ) |
| Switzerland | Credit Suisse (Switzerland) Limited |
| UBS Switzerland AG |
| Taiwan - R.O.C. | Deutsche Bank AG |
| Standard Chartered Bank (Taiwan) Limited |
| Tanzania | Standard Chartered Bank (Tanzania) Limited |
| Thailand | Standard Chartered Bank (Thai) Public Company Limited |
| Togo | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Tunisia | Union Internationale de Banques |
| Turkey | Citibank, A.Ş. |
| --- | --- |
| Deutsche Bank A.Ş. |
| Uganda | Standard Chartered Bank Uganda Limited |
| Ukraine | JSC Citibank |
| United Arab Emirates Dubai Financial Market | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| United Arab Emirates Dubai International Financial Center | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| United Arab Emirates Abu Dhabi | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| United Kingdom | State Street Bank and Trust Company, United Kingdom branch |
| United States | State Street Bank and Trust Company |
| Uruguay | Banco Itaú Uruguay S.A. |
| Vietnam | HSBC Bank (Vietnam) Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Zambia | Standard Chartered Bank Zambia Plc. |
| Zimbabwe | Stanbic Bank Zimbabwe Limited (as delegate of Standard Bank of South Africa Limited) | | # ANNEXE III – DÉLÉGUÉS DU DÉPOSITAIRE
Le dépositaire, en tant que sous-dépositaire général, a nommé des sous-dépositaires locaux au sein du réseau des dépositaires de State Street Global (State Street Global Custody Network) comme ci-dessous, à la date du présent prospectus. La version la plus récente de cette liste peut être consultée sur le site internet www.mystatestreet.com.
| MARCHÉ | SOUS-DÉPOSITAIRE |
| --- | --- |
| Albanie | Raiffeisen Bank sh.a. |
| Argentine | Citibank, N.A. |
| Australie | The Hongkong and Shanghai Banking Corporation Limited |
| Autriche | Deutsche Bank AG |
| UniCredit Bank Austria AG |
| Bahreïn | HSBC Bank Middle East Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Bangladesh | Standard Chartered Bank |
| Belgique | Deutsche Bank AG, Pays-Bas (à travers sa succursale d'Amsterdam, avec le soutien de sa succursale de Bruxelles) |
| Bénin | Via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Côte d’Ivoire |
| Bermudes | HSBC Bank Bermuda Limited |
| Fédération de Bosnie- Herzégovine | UniCredit Bank d.d. |
| Botswana | Standard Chartered Bank Botswana Limited |
| Brésil | Citibank, N.A. |
| Bulgarie | Citibank Europe plc, succursale de Bulgarie |
| UniCredit Bulbank AD |
| Burkina Faso | Via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Côte d’Ivoire |
| Canada | State Street Trust Company Canada |
| Chili | Itaú CorpBanca S.A. |
| République populaire de Chine | HSBC Bank (China) Company Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| China Construction Bank Corporation |
| China Connect | Citibank, N.A. |
| The Hongkong and Shanghai Banking Corporation Limited |
| Standard Chartered Bank (Hong Kong) Limited |
| Colombie | Cititrust Colombia S.A. Sociedad Fiduciaria |
| --- | --- |
| Costa Rica | Banco BCT S.A. |
| Croatie | Privredna Banka Zagreb d.d. |
| Zagrebacka Banka d.d. |
| Chypre | BNP Paribas Securities Services, S.C.A., Grèce (à travers sa succursale d'Athènes) |
| République tchèque | Československá obchodní banka, a.s. |
| UniCredit Bank Czech Republic and Slovakia, a.s. |
| Danemark | Nordea Bank AB (publ), Suède (à travers sa filiale, Nordea Bank Danmark A/S) |
| Skandinaviska Enskilda Banken AB (publ), Suède (à travers sa succursale de Copenhague) |
| Égypte | HSBC Bank Egypt S.A.E. (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Estonie | AS SEB Pank |
| Eswatini (appelé précédemment Swaziland) | Standard Bank Swaziland Limited |
| Finlande | Nordea Bank AB (publ), Suède (à travers sa filiale, Nordea Bank Finland Plc) |
| Skandinaviska Enskilda Banken AB (publ), Suède (à travers sa succursale de Helsinki) |
| France | Deutsche Bank AG, Pays-Bas (à travers sa succursale d'Amsterdam, avec le soutien de sa succursale de Paris) |
| Géorgie | JSC Bank of Georgia |
| Allemagne | State Street Bank International GmbH |
| Deutsche Bank AG |
| Ghana | Standard Chartered Bank Ghana Limited |
| Grèce | BNP Paribas Securities Services, S.C.A. |
| Guinée-Bissau | Via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Côte d’Ivoire |
| Hong Kong | Standard Chartered Bank (Hong Kong) Limited |
| Hongrie | Citibank Europe plc Magyarországi Fióktelepe |
| UniCredit Bank Hungary Zrt. |
| Islande | Landsbankinn hf. |
| Inde | Deutsche Bank AG |
| The Hongkong and Shanghai Banking Corporation Limited |
| Indonésie | Deutsche Bank AG |
| Irlande | State Street Bank and Trust Company, succursale du Royaume-Uni |
| Israël | Bank Hapoalim B.M. |
| Italie | Deutsche Bank S.p.A. |
| --- | --- |
| Côte d’Ivoire | Standard Chartered Bank Côte d’Ivoire S.A. |
| Japon | Mizuho Bank, Limited |
| The Hongkong and Shanghai Banking Corporation Limited |
| Jordanie | Standard Chartered Bank |
| Kazakhstan | JSC Citibank Kazakhstan |
| Kenya | Standard Chartered Bank Kenya Limited |
| Corée | Deutsche Bank AG |
| The Hongkong and Shanghai Banking Corporation Limited |
| Koweït | HSBC Bank Middle East Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Lettonie | AS SEB banka |
| Lituanie | AB SEB bankas |
| Malawi | Standard Bank Limited |
| Malaisie | Deutsche Bank (Malaysia) Berhad |
| Standard Chartered Bank Malaysia Berhad |
| Mali | Via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Côte d’Ivoire |
| Maurice | The Hongkong and Shanghai Banking Corporation Limited |
| Mexique | Banco Nacional de México, S.A. |
| Maroc | Citibank Maghreb |
| Namibie | Standard Bank Namibia Limited |
| Pays-Bas | Deutsche Bank AG |
| Nouvelle-Zélande | The Hongkong and Shanghai Banking Corporation Limited |
| Niger | Via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Côte d’Ivoire |
| Nigéria | Stanbic IBTC Bank Plc. |
| Norvège | Nordea Bank AB (publ), Suède (à travers sa filiale, Nordea Bank Norge ASA) |
| Skandinaviska Enskilda Banken AB (publ), Suède (à travers sa succursale d'Oslo) |
| Oman | HSBC Bank Oman S.A.O.G. (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Pakistan | Deutsche Bank AG |
| Panama | Citibank, N.A. |
| Pérou | Citibank del Perú, S.A. |
| Philippines | Deutsche Bank AG |
| Pologne | Bank Handlowy w Warszawie S.A. |
| --- | --- |
| Bank Polska Kasa Opieki S.A |
| Portugal | Deutsche Bank AG, Pays-Bas (à travers sa succursale d'Amsterdam, avec le soutien de sa succursale de Lisbonne) |
| Puerto Rico | Citibank, N.A. |
| Qatar | HSBC Bank Middle East Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Roumanie | Citibank Europe plc, Dublin, succursale de Roumanie |
| Russie | AO Citibank |
| Arabie saoudite | HSBC Saudi Arabia (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Saudi British Bank (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Sénégal | Via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Côte d’Ivoire |
| Serbie | UniCredit Bank Serbia JSC |
| Singapour | Citibank, N.A. |
| United Overseas Bank Limited |
| Slovaquie | UniCredit Bank Czech Republic and Slovakia, a.s. |
| Slovénie | UniCredit Banka Slovenija d.d. |
| Afrique du Sud | FirstRand Bank Limited |
| Standard Bank of South Africa Limited |
| Espagne | Deutsche Bank S.A.E. |
| Sri Lanka | The Hongkong and Shanghai Banking Corporation Limited |
| Republika Srpska | UniCredit Bank d.d. |
| Suède | Nordea Bank AB (publ) |
| Skandinaviska Enskilda Banken AB (publ) |
| Suisse | Credit Suisse (Switzerland) Limited |
| UBS Switzerland AG |
| Taïwan, république de Chine | Deutsche Bank AG |
| Standard Chartered Bank (Taiwan) Limited |
| Tanzanie | Standard Chartered Bank (Tanzania) Limited |
| Thaïlande | Standard Chartered Bank (Thai) Public Company Limited |
| Togo | Via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Côte d’Ivoire |
| Tunisie | Union Internationale de Banques |
| Turquie | Citibank A.Ş. |
| --- | --- |
| Deutsche Bank A.Ş. |
| Ouganda | Standard Chartered Bank Uganda Limited |
| Ukraine | JSC Citibank |
| Émirats arabes unis Dubai Financial Market | HSBC Bank Middle East Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Émirats arabes unis Dubai International Financial Center | HSBC Bank Middle East Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Émirats arabes unis Abu Dhabi | HSBC Bank Middle East Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Royaume-Uni | State Street Bank and Trust Company, succursale du Royaume-Uni |
| États-Unis | State Street Bank and Trust Company |
| Uruguay | Banco Itaú Uruguay S.A. |
| Vietnam | HSBC Bank (Vietnam) Limited (en qualité de délégué de The Hongkong and Shanghai Banking Corporation Limited) |
| Zambie | Standard Chartered Bank Zambia Plc |
| Zimbabwe | Stanbic Bank Zimbabwe Limited (en qualité de délégué de Standard Bank of South Africa Limited) | | # SCHEDULE III – DEPOSITARY DELEGATES
The Depositary, as global sub-custodian, has appointed local sub-custodians within the State Street Global Custody Network as listed below, as at the date of this Prospectus. The latest version of this list can be consulted on the website www.mystatestreet.com.
| MARKET | SUBCUSTODIAN |
| --- | --- |
| Albania | Raiffeisen Bank sh.a. |
| Argentina | Citibank, N.A. |
| Australia | The Hongkong and Shanghai Banking Corporation Limited |
| Austria | Deutsche Bank AG |
| UniCredit Bank Austria AG |
| Bahrain | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Bangladesh | Standard Chartered Bank |
| Belgium | Deutsche Bank AG, Netherlands (operating through its Amsterdam branch with support from its Brussels branch) |
| Benin | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Bermuda | HSBC Bank Bermuda Limited |
| Federation of Bosnia and Herzegovina | UniCredit Bank d.d. |
| Botswana | Standard Chartered Bank Botswana Limited |
| Brazil | Citibank, N.A. |
| Bulgaria | Citibank Europe plc, Bulgaria Branch |
| UniCredit Bulbank AD |
| Burkina Faso | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Canada | State Street Trust Company Canada |
| Chile | Itaú CorpBanca S.A. |
| People’s Republic of China | HSBC Bank (China) Company Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| China Construction Bank Corporation |
| China Connect | Citibank N.A. |
| The Hongkong and Shanghai Banking Corporation Limited |
| Standard Chartered Bank (Hong Kong) Limited |
| Colombia | Cititrust Colombia S.A. Sociedad Fiduciaria |
| --- | --- |
| Costa Rica | Banco BCT S.A. |
| Croatia | Privredna Banka Zagreb d.d. |
| Zagrebacka Banka d.d. |
| Cyprus | BNP Paribas Securities Services, S.C.A., Greece (operating through its Athens branch) |
| Czech Republic | Československá obchodní banka, a.s. |
| UniCredit Bank Czech Republic and Slovakia, a.s. |
| Denmark | Nordea Bank AB (publ), Sweden (operating through its subsidiary, Nordea Bank Danmark A/S) |
| Skandinaviska Enskilda Banken AB (publ), Sweden (operating through its Copenhagen branch) |
| Egypt | HSBC Bank Egypt S.A.E. (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Estonia | AS SEB Pank |
| Eswatini (previously known as Swaziland) | Standard Bank Swaziland Limited |
| Finland | Nordea Bank AB (publ), Sweden (operating through its subsidiary, Nordea Bank Finland Plc.) |
| Skandinaviska Enskilda Banken AB (publ), Sweden (operating through its Helsinki branch) |
| France | Deutsche Bank AG, Netherlands (operating through its Amsterdam branch with support from its Paris branch) |
| Republic of Georgia | JSC Bank of Georgia |
| Germany | State Street Bank International GmbH |
| Deutsche Bank AG |
| Ghana | Standard Chartered Bank Ghana Limited |
| Greece | BNP Paribas Securities Services, S.C.A. |
| Guinea-Bissau | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Hong Kong | Standard Chartered Bank (Hong Kong) Limited |
| Hungary | Citibank Europe plc Magyarországi Fióktelepe |
| UniCredit Bank Hungary Zrt. |
| Iceland | Landsbankinn hf. |
| India | Deutsche Bank AG |
| The Hongkong and Shanghai Banking Corporation Limited |
| Indonesia | Deutsche Bank AG |
| Ireland | State Street Bank and Trust Company, United Kingdom branch |
| Israel | Bank Hapoalim B.M. |
| --- | --- |
| Italy | Deutsche Bank S.p.A. |
| Ivory Coast | Standard Chartered Bank Côte d’Ivoire S.A. |
| Japan | Mizuho Bank, Limited |
| The Hongkong and Shanghai Banking Corporation Limited |
| Jordan | Standard Chartered Bank |
| Kazakhstan | JSC Citibank Kazakhstan |
| Kenya | Standard Chartered Bank Kenya Limited |
| Republic of Korea | Deutsche Bank AG |
| The Hongkong and Shanghai Banking Corporation Limited |
| Kuwait | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Latvia | AS SEB banka |
| Lithuania | AB SEB bankas |
| Malawi | Standard Bank Limited |
| Malaysia | Deutsche Bank (Malaysia) Berhad |
| Standard Chartered Bank Malaysia Berhad |
| Mali | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Mauritius | The Hongkong and Shanghai Banking Corporation Limited |
| Mexico | Banco Nacional de México, S.A. |
| Morocco | Citibank Maghreb |
| Namibia | Standard Bank Namibia Limited |
| Netherlands | Deutsche Bank AG |
| New Zealand | The Hongkong and Shanghai Banking Corporation Limited |
| Niger | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Nigeria | Stanbic IBTC Bank Plc. |
| Norway | Nordea Bank AB (publ), Sweden (operating through its subsidiary, Nordea Bank Norge ASA) |
| Skandinaviska Enskilda Banken AB (publ), Sweden (operating through its Oslo branch) |
| Oman | HSBC Bank Oman S.A.O.G. (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Pakistan | Deutsche Bank AG |
| Panama | Citibank, N.A. |
| Peru | Citibank del Perú, S.A. |
| Philippines | Deutsche Bank AG |
| --- | --- |
| Poland | Bank Handlowy w Warszawie S.A. |
| Bank Polska Kasa Opieki S.A |
| Portugal | Deutsche Bank AG, Netherlands (operating through its Amsterdam branch with support from its Lisbon branch) |
| Puerto Rico | Citibank N.A. |
| Qatar | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Romania | Citibank Europe plc, Dublin – Romania Branch |
| Russia | AO Citibank |
| Saudi Arabia | HSBC Saudi Arabia (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Saudi British Bank (as delegate of the Honkong and Shanghai Banking Corporation Limited) |
| Senegal | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Serbia | UniCredit Bank Serbia JSC |
| Singapore | Citibank N.A. |
| United Overseas Bank Limited |
| Slovak Republic | UniCredit Bank Czech Republic and Slovakia, a.s. |
| Slovenia | UniCredit Banka Slovenija d.d. |
| South Africa | FirstRand Bank Limited |
| Standard Bank of South Africa Limited |
| Spain | Deutsche Bank S.A.E. |
| Sri Lanka | The Hongkong and Shanghai Banking Corporation Limited |
| Republic of Srpska | UniCredit Bank d.d. |
| Sweden | Nordea Bank AB (publ) |
| Skandinaviska Enskilda Banken AB (publ) |
| Switzerland | Credit Suisse (Switzerland) Limited |
| UBS Switzerland AG |
| Taiwan - R.O.C. | Deutsche Bank AG |
| Standard Chartered Bank (Taiwan) Limited |
| Tanzania | Standard Chartered Bank (Tanzania) Limited |
| Thailand | Standard Chartered Bank (Thai) Public Company Limited |
| Togo | via Standard Chartered Bank Côte d’Ivoire S.A., Abidjan, Ivory Coast |
| Tunisia | Union Internationale de Banques |
| Turkey | Citibank, A.Ş. |
| --- | --- |
| Deutsche Bank A.Ş. |
| Uganda | Standard Chartered Bank Uganda Limited |
| Ukraine | JSC Citibank |
| United Arab Emirates Dubai Financial Market | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| United Arab Emirates Dubai International Financial Center | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| United Arab Emirates Abu Dhabi | HSBC Bank Middle East Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| United Kingdom | State Street Bank and Trust Company, United Kingdom branch |
| United States | State Street Bank and Trust Company |
| Uruguay | Banco Itaú Uruguay S.A. |
| Vietnam | HSBC Bank (Vietnam) Limited (as delegate of The Hongkong and Shanghai Banking Corporation Limited) |
| Zambia | Standard Chartered Bank Zambia Plc. |
| Zimbabwe | Stanbic Bank Zimbabwe Limited (as delegate of Standard Bank of South Africa Limited) | | en | fr |
DOLFIN718 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
## Objectives and Investment Policy
Objective: The sub-fund aims to increase the value of your investment over the long term.
Portfolio securities: Under normal market conditions the fund invests mainly in the shares of companies listed on the stock markets of European countries, including emerging European countries. The fund also invests in other types of financial instruments consistent with its investment objective. The fund may use derivatives for investment purposes or to reduce investment risks (hedging).
Investment process: The fund manager follows a disciplined investment approach based on the analysis of the different phases of the wealth creation cycle. Accordingly, the fund manager invests in companies which offer, in its opinion, strong profit growth potential and hold a solid and stable competitive position. The fund manager also takes environmental and social criteria (including good governance) into account in its process for selecting the companies in which the portfolio is invested.
Recommended holding period: The sub-fund may not be appropriate for investors who plan to withdraw their money within 6 years.
This share class does not distribute dividends (meaning that any income earned by the sub-fund is added to the share price).
You can place orders to buy or sell shares of the sub-fund daily.
Terms to Understand
Shares: Securities that represent partial ownership in a company.
Derivatives: Contracts whose value is linked to one or more securities, interest rates, currencies, commodities or financial indices. | ## Objetivos y política de inversión
Objetivo: El objetivo del subfondo es aumentar el valor de su inversión a largo plazo.
Valores de la cartera: En circunstancias normales de mercado, el fondo invertirá principalmente en acciones de empresas cotizadas en bolsas de países europeos, incluidos países europeos emergentes. El fondo también invertirá en otros tipos de instrumentos financieros, de acuerdo con su objetivo. El fondo podrá utilizar derivados con fines de inversión o para reducir los riesgos de inversión (cobertura).
Proceso de inversión: El gestor del fondo sigue un enfoque de inversión disciplinado basado en el análisis de las diferentes fases del ciclo de creación de riqueza. Sobre esta base, el gestor del fondo invierte en empresas que considera que tienen fuertes perspectivas de crecimiento de sus resultados y se benefician de una posición competitiva sólida y estable. El gestor del compartimento también tiene en cuenta criterios medioambientales y sociales (incluida la buena gobernanza) en su selección de las empresas en que invierte la cartera.
Plazo de tenencia recomendado: El subfondo puede no ser adecuado para inversores que prevean retirar su dinero en un plazo de 6 años.
Esta clase de acciones no distribuye dividendos (lo que significa que los ingresos que genere el subfondo se añaden al precio de la acción).
Usted puede realizar solicitudes de compra o venta de acciones del subfondo diariamente.
Glosario
Acciones: Valores que representan una propiedad parcial en una empresa.
Derivados: Contratos cuyo valor está vinculado a uno o más valores, tipos de interés, divisas, materias primas o índices financieros. | ## Objectives and Investment Policy
Objective: The sub-fund aims to increase the value of your investment over the long term.
Portfolio securities: Under normal market conditions the fund invests mainly in the shares of companies listed on the stock markets of European countries, including emerging European countries. The fund also invests in other types of financial instruments consistent with its investment objective. The fund may use derivatives for investment purposes or to reduce investment risks (hedging).
Investment process: The fund manager follows a disciplined investment approach based on the analysis of the different phases of the wealth creation cycle. Accordingly, the fund manager invests in companies which offer, in its opinion, strong profit growth potential and hold a solid and stable competitive position. The fund manager also takes environmental and social criteria (including good governance) into account in its process for selecting the companies in which the portfolio is invested.
Recommended holding period: The sub-fund may not be appropriate for investors who plan to withdraw their money within 6 years.
This share class does not distribute dividends (meaning that any income earned by the sub-fund is added to the share price).
You can place orders to buy or sell shares of the sub-fund daily.
Terms to Understand
Shares: Securities that represent partial ownership in a company.
Derivatives: Contracts whose value is linked to one or more securities, interest rates, currencies, commodities or financial indices. | en | es |
DOLFIN719 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Le poste de frais suivants est ajouté au point 13.2 (« Autres frais ») de la partie générale du Prospectus Complet :
« (v) Coûts liés aux actions judiciaires ou extrajudiciaires sous la forme d’une indemnisation versée à la Société de gestion pour un montant maximum de 5 % des montants perçus par la Société – après déduction et compensation des frais engagés par la Société pour les procédures judiciaires ou extrajudiciaires en question. »
Cet ajout fait qu’il est possible de facturer des frais supplémentaires au(x) Compartiment(s) concernés uniquement dans la mesure où la Société tire un bénéfice de la procédure de recouvrement/de réclamation. Si la Société ne tire aucun bénéfice de la procédure de recouvrement/de réclamation, la Société de gestion impute ses frais au(x) Compartiment(s) concerné(s). En conséquence, la Société de gestion peut réclamer les frais de procédure jusqu’à 5 % des montants perçus pour les procédures judiciaires ou extrajudiciaires uniquement en cas de réussite de la procédure de recouvrement/de réclamation. Cet ajout vise à couvrir les frais engagés par la Société de gestion en cas de défaillance totale ou partielle d’investissements cibles du/des Compartiment(s). Les procédures usuelles sont les assemblées de créanciers, les recours collectifs, les procédures extrajudiciaires et autres dans le cadre desquels la Société de gestion doit intervenir activement. Les coûts éventuels sont facturés uniquement sur les montants éventuellement perçus à l’issue de ces procédures, c’est-à-dire que, si aucun avoir n’est perçu à l’issue de la procédure de recouvrement/de réclamation, aucun montant n’est porté en compte.
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# Répartition des revenus de prêts de titres | En el punto 13.2 («Otros costes») de la parte general del Folleto, se añade el siguiente tipo de costes:
«(v) Costes por reclamaciones judiciales o extrajudiciales en forma de remuneración a la Sociedad gestora de hasta el 5% de las cantidades percibidas por la Sociedad, una vez deducidos y liquidados los costes en que incurra la Sociedad por los respectivos procedimientos judiciales o extrajudiciales».
Como resultado de esta modificación, podrán aplicarse costes adicionales al subfondo o los subfondos correspondiente, pero solo en la medida en que la Sociedad perciba ingresos por procedimientos de acreedores o demandas. Si la Sociedad no recibe ningún ingreso por los procedimientos de acreedores o demandas, la Sociedad gestora no aplicará ningún coste al subfondo o los subfondos correspondientes. Por consiguiente, la Sociedad gestora únicamente podrá reclamar los costes de la ejecución judicial o extrajudicial de reclamaciones hasta un 5% de las cantidades cobradas en caso de que los procedimientos de acreedores o demandas prosperen. Con esta modificación se pretende cubrir los gastos en los que incurra la Sociedad gestora cuando las inversiones objetivo del subfondo o los subfondos fracasen total o parcialmente. Son procedimientos habituales las juntas de acreedores, las acciones colectivas, los procedimientos extrajudiciales o similares en relación con los cuales la Sociedad gestora debe actuar. Los posibles costes únicamente se facturarán en función de los ingresos que se deriven de dichos procedimientos, es decir, si el patrimonio del fondo no obtiene ingresos de los procedimientos de acreedores o las demandas, no se cobrarán.
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# Distribución de los ingresos por préstamo de valores | Le poste de frais suivants est ajouté au point 13.2 (« Autres frais ») de la partie générale du Prospectus Complet :
« (v) Coûts liés aux actions judiciaires ou extrajudiciaires sous la forme d’une indemnisation versée à la Société de gestion pour un montant maximum de 5 % des montants perçus par la Société – après déduction et compensation des frais engagés par la Société pour les procédures judiciaires ou extrajudiciaires en question. »
Cet ajout fait qu’il est possible de facturer des frais supplémentaires au(x) Compartiment(s) concernés uniquement dans la mesure où la Société tire un bénéfice de la procédure de recouvrement/de réclamation. Si la Société ne tire aucun bénéfice de la procédure de recouvrement/de réclamation, la Société de gestion impute ses frais au(x) Compartiment(s) concerné(s). En conséquence, la Société de gestion peut réclamer les frais de procédure jusqu’à 5 % des montants perçus pour les procédures judiciaires ou extrajudiciaires uniquement en cas de réussite de la procédure de recouvrement/de réclamation. Cet ajout vise à couvrir les frais engagés par la Société de gestion en cas de défaillance totale ou partielle d’investissements cibles du/des Compartiment(s). Les procédures usuelles sont les assemblées de créanciers, les recours collectifs, les procédures extrajudiciaires et autres dans le cadre desquels la Société de gestion doit intervenir activement. Les coûts éventuels sont facturés uniquement sur les montants éventuellement perçus à l’issue de ces procédures, c’est-à-dire que, si aucun avoir n’est perçu à l’issue de la procédure de recouvrement/de réclamation, aucun montant n’est porté en compte.
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# Répartition des revenus de prêts de titres | fr | es |
DOLFIN720 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
#### A trust will generally be Irish resident where the trustee is resident in Ireland or a majority of the trustees (if more than one) are resident in Ireland.
A company which has its central management and control in Ireland is resident in Ireland irrespective of where it is incorporated. A company which does not have its central management and control in Ireland but which is incorporated 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 taxation treaty, or the company or a related company are quoted companies on a recognised Stock Exchange in the EU or in a treaty country under a double taxation treaty between Ireland and that country. This exception does not apply where it would result in an Irish incorporated company that is managed and controlled in a relevant territory (other than Ireland), but would not be resident in that relevant territory as it is not incorporated there, not being resident for tax purposes in any territory. | ##### Por regla general, se considerará que un trust es residente en Irlanda cuando el fiduciario resida en Irlanda o cuando una mayoría de los fiduciarios (de haber más de uno) sea residente en Irlanda.
Se considerará residente en Irlanda aquella sociedad cuyas funciones centrales de dirección y control radiquen en Irlanda cualquiera que sea su lugar de constitución. Una sociedad cuyas funciones centrales de dirección y control no radiquen en Irlanda, pero que se haya constituido en este país, se considerará residente en Irlanda, excepto cuando
- la sociedad o una sociedad vinculada desarrolle una actividad mercantil en Irlanda y, o bien la sociedad esté controlada en última instancia por personas residentes en Estados miembros de la Unión Europea o en países con los que Irlanda tenga suscritos convenios para evitar la doble imposición, o bien la sociedad o una sociedad vinculada sean sociedades cotizadas en una Bolsa de Valores reconocida de la Unión Europea o de un país con el que Irlanda tenga suscrito un convenio para evitar la doble imposición. Esta excepción no se aplica a los casos en los que, de aplicarse, daría lugar a una sociedad constituida en Irlanda y gestionada y controlada en un determinado territorio (distinto de Irlanda), pero que no resida en dicho territorio por no haberse constituido en él, no sea residente a efectos fiscales en ningún territorio;o
- la Sociedad sea considerada como no residente en Irlanda de conformidad con un tratado de doble imposición entre Irlanda y otro país. | #### A trust will generally be Irish resident where the trustee is resident in Ireland or a majority of the trustees (if more than one) are resident in Ireland.
A company which has its central management and control in Ireland is resident in Ireland irrespective of where it is incorporated. A company which does not have its central management and control in Ireland but which is incorporated 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 taxation treaty, or the company or a related company are quoted companies on a recognised Stock Exchange in the EU or in a treaty country under a double taxation treaty between Ireland and that country. This exception does not apply where it would result in an Irish incorporated company that is managed and controlled in a relevant territory (other than Ireland), but would not be resident in that relevant territory as it is not incorporated there, not being resident for tax purposes in any territory. | en | es |
DOLFIN721 | 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: Triodos Future Generations Fund is an open-ended sub-fund of a Luxembourg SICAV.
Term: The fund has no maturity date. Triodos Investment Management is not entitled to terminate the fund unilaterally.
Objectives: The fund aims to increase the value of your investment over the long term, while seeking to maximise positive impact on society and the environment. The fund has sustainable investment as its objective as set out in article 9 SFDR. The fund mainly invests in equities of companies whose products and services contribute to at least one of the transition themes defined by Triodos: sustainable food and agriculture, renewable resources, circular economy, sustainable mobility and infrastructure, prosperous and healthy people, innovation for sustainability, or social inclusion and empowerment. The fund focuses particularly on the welfare of children across the world such as child health and survival, access to education, and protection from violence and exploitation. Issuers that do not meet the Triodos sustainability standards are excluded from investment. The return of the fund is determined on the one hand by dividend income
from investments minus the costs of managing the fund, and on the other hand by the price changes of the investments, including currency effects. The return of the fund depends to a large extent on currency developments and market movements. The fund is actively managed. It compares its returns with the MSCI World Impact ESG Select Children’s Rights Index, which it does not aim to replicate or outperform. The fund may deviate from the benchmark because it only invests in companies that meet strict sustainability criteria.
Intended retail investor: The fund is available to retail and institutional investors through all distribution channels, with or without advice. The fund may appeal to investors who:
are looking for a growth-oriented investment that takes a sustainable investing approach;
are interested in exposure to thematic equity investing, either for a core investment or for diversification;
have a high risk profile and can tolerate significant temporary losses.
Orders to buy and sell shares are ordinarily processed on any day that is a banking day in Luxembourg. Capitalisation share classes reinvest the fund’s net realised income, while distribution share classes may distribute it. | # Um welche Art von Produkt handelt es sich?
Art: Der Triodos Future Generations Fund ist ein offener Teilfonds einer Luxemburger SICAV.
Laufzeit: Der Fonds hat kein festes oder vorgeschlagenes Fälligkeitsdatum. Triodos Investment Management ist nicht berechtigt, den Fonds einseitig zu beenden.
Ziele: Wir wollen den Wert Ihrer Investition längerfristig steigern und gleichzeitig die positiven Auswirkungen auf Gesellschaft und Umwelt maximieren. Das Ziel des Fonds ist eine nachhaltige Anlage, wie es in Artikel 9 der Offenlegungsverordnung SFDR festgelegt ist. Der Fonds investiert hauptsächlich in Anteile von Unternehmen, deren Produkte und Dienstleistungen zu mindestens einem der von Triodos definierten Themen für den Übergang in eine nachhaltige Gesellschaft beitragen: nachhaltige Ernährung & Landwirtschaft, erneuerbare Ressourcen, Kreislaufwirtschaft, nachhaltige Mobilität & Infrastruktur, gesunde Menschen, Innovation für Nachhaltigkeit sowie soziale Inklusion & Stärkung der Autonomie. Der Fonds konzentriert sich insbesondere auf das Wohlergehen von Kindern weltweit, wie Gesundheit und Überleben von Kindern, Zugang zu Bildung sowie Schutz vor Gewalt und Ausbeutung. Emittenten, die die Triodos- Nachhaltigkeitsstandards nicht erfüllen, sind von der Anlage ausgeschlossen. Der Ertrag des Fonds wird zum einen bestimmt durch die Dividendenerträge der Anlagen abzüglich der
Verwaltungskosten des Fonds und zum anderen durch die Kursänderungen bei Anlagen, einschließlich Währungseffekten. Der Ertrag des Fonds hängt in hohem Maße von der Währungsentwicklung und den Marktbewegungen ab. Der Fonds wird aktiv verwaltet. Er vergleicht seine Erträge mit dem MSCI World Impact ESG Select Children's Rights Index, zielt jedoch nicht darauf ab, diesen nachzubilden oder zu übertreffen. Der Fonds kann vom Vergleichindex abweichen, da er nur in Unternehmen investiert, die strenge Nachhaltigkeitskriterien erfüllen.
Kleinanleger-Zielgruppe: Der Fonds steht privaten und institutionellen Anlegern über alle Vertriebskanäle mit oder ohne Beratung zur Verfügung. Der Fonds kann für Anleger interessant sein, die:
eine wachstumsorientierte Anlage suchen, die einen nachhaltigen Investitionsansatz verfolgt;
an Geldanlagen zu bestimmten Themen interessiert sind, entweder als Kernanlage oder zur Diversifizierung;
ein hohes Risikoprofil haben und vorübergehend erhebliche Verluste tolerieren können.
Aufträge zum Kauf und Verkauf von Anteilen werden in der Regel an allen Bankarbeitstagen in Luxemburg bearbeitet. Die thesaurierenden Anteilsklassen legen die realisierten Nettoerträge des Fonds wieder an, während die ausschüttenden Anteilsklassen diese ausschütten können. | # What is this product?
Type: Triodos Future Generations Fund is an open-ended sub-fund of a Luxembourg SICAV.
Term: The fund has no maturity date. Triodos Investment Management is not entitled to terminate the fund unilaterally.
Objectives: The fund aims to increase the value of your investment over the long term, while seeking to maximise positive impact on society and the environment. The fund has sustainable investment as its objective as set out in article 9 SFDR. The fund mainly invests in equities of companies whose products and services contribute to at least one of the transition themes defined by Triodos: sustainable food and agriculture, renewable resources, circular economy, sustainable mobility and infrastructure, prosperous and healthy people, innovation for sustainability, or social inclusion and empowerment. The fund focuses particularly on the welfare of children across the world such as child health and survival, access to education, and protection from violence and exploitation. Issuers that do not meet the Triodos sustainability standards are excluded from investment. The return of the fund is determined on the one hand by dividend income
from investments minus the costs of managing the fund, and on the other hand by the price changes of the investments, including currency effects. The return of the fund depends to a large extent on currency developments and market movements. The fund is actively managed. It compares its returns with the MSCI World Impact ESG Select Children’s Rights Index, which it does not aim to replicate or outperform. The fund may deviate from the benchmark because it only invests in companies that meet strict sustainability criteria.
Intended retail investor: The fund is available to retail and institutional investors through all distribution channels, with or without advice. The fund may appeal to investors who:
are looking for a growth-oriented investment that takes a sustainable investing approach;
are interested in exposure to thematic equity investing, either for a core investment or for diversification;
have a high risk profile and can tolerate significant temporary losses.
Orders to buy and sell shares are ordinarily processed on any day that is a banking day in Luxembourg. Capitalisation share classes reinvest the fund’s net realised income, while distribution share classes may distribute it. | en | de |
DOLFIN722 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| | IF YOU EXIT AFTER 1 YEAR | IF YOU EXIT AFTER 3 YEARS |
| --- | --- | --- |
| Stress scenario | What you might get back after costs | USD 4,270 | USD 5,690 |
| | Average return each year % | -57.30% | -17.14% |
| Unfavourable scenario | What you might get back after costs | USD 7,800 | USD 7,440 |
| | Average return each year % | -22.00% | -9.39% |
| Moderate scenario | What you might get back after costs | USD 10,240 | USD 11,010 |
| | Average return each year % | 2.40% | 3.26% |
| Favourable scenario | What you might get back after costs | USD 11,730 | USD 12,190 |
| | Average return each year % | 17.30% | 6.82% | | | | EN CASO DE SALIDA DESPUÉS DE X AÑO(S) | EN CASO DE SALIDA DESPUÉS DE X AÑO(S) |
| --- | --- | --- |
| Escenario de tensión | Lo que podría recibir tras deducir los costes | USD 4.270 | USD 5.690 |
| | Rendimiento medio cada año | -57,30% | -17,14% |
| Escenario desfavorable | Lo que podría recibir tras deducir los costes | USD 7.800 | USD 7.440 |
| | Rendimiento medio cada año | -22,00% | -9,39% |
| Escenario moderado | Lo que podría recibir tras deducir los costes | USD 10.240 | USD 11.010 |
| | Rendimiento medio cada año | 2,40% | 3,26% |
| Escenario favorable | Lo que podría recibir tras deducir los costes | USD 11.730 | USD 12.190 |
| | Rendimiento medio cada año | 17,30% | 6,82% | | | | IF YOU EXIT AFTER 1 YEAR | IF YOU EXIT AFTER 3 YEARS |
| --- | --- | --- |
| Stress scenario | What you might get back after costs | USD 4,270 | USD 5,690 |
| | Average return each year % | -57.30% | -17.14% |
| Unfavourable scenario | What you might get back after costs | USD 7,800 | USD 7,440 |
| | Average return each year % | -22.00% | -9.39% |
| Moderate scenario | What you might get back after costs | USD 10,240 | USD 11,010 |
| | Average return each year % | 2.40% | 3.26% |
| Favourable scenario | What you might get back after costs | USD 11,730 | USD 12,190 |
| | Average return each year % | 17.30% | 6.82% | | en | es |
DOLFIN723 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
The technology sector – Tech companies have nine lives
Investment team – Shannon River Fund Management, LLC
- Led by Spencer Waxman, CIO and Founding Partner with 20 years of experience in portfolio management, private equity and technology
- 5 additional investment professionals, including analysts focused on sub- sectors of the technology space,and a trader
- Active risk management
- Proven track record, having successfully navigated various challenging environments, including the 2008 financial crisis
- Cycles within the cycle create trading opportunities
- Focus is on those companies’ investment process and on understanding the fundamental picture vs. sentiment to capture market mispricingSources: Shannon River Fund Management, LLC, UBP. Past performance is not a guide for current or future resultsFund concept | Il settore tecnologico – le società tecnologiche hanno «nove vite»
Team d’investimento – Shannon River Fund Management, LLC
- Diretto da Spencer Waxman, CIO e partner fondatore con 20 anni diesperienza nel portfolio management,nel private equity e nella tecnologia
- 5 ulteriori professionisti in investimenti, inclusi gli analisti specializzati in subcomparti del settore tecnologico e un trader
- Gestione dei rischi attiva
- Comprovata esperienza di successi nell’affrontare scenari diversi e difficili, tra cui la crisi finanziaria nel 2008
- I cicli all’interno del ciclo creano opportunità di trading
- L’obiettivo è incentrato sul processo d’investimento di quelle società e sulla comprensione dei fondamentali rispetto al clima di fiducia per individuare l’errata definizione dei prezzi da parte del mercatoFonti: Shannon River Fund Management, LLC, UBP. La performance passata non è indicativa ai fini dei risultati attuali o futuri. | The technology sector – Tech companies have nine lives
Investment team – Shannon River Fund Management, LLC
- Led by Spencer Waxman, CIO and Founding Partner with 20 years of experience in portfolio management, private equity and technology
- 5 additional investment professionals, including analysts focused on sub- sectors of the technology space,and a trader
- Active risk management
- Proven track record, having successfully navigated various challenging environments, including the 2008 financial crisis
- Cycles within the cycle create trading opportunities
- Focus is on those companies’ investment process and on understanding the fundamental picture vs. sentiment to capture market mispricingSources: Shannon River Fund Management, LLC, UBP. Past performance is not a guide for current or future resultsFund concept | en | it |
DOLFIN724 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# DATA PROTECTION
In accordance with the provisions of the law of 2 August 2002 on the protection of persons with regard to processing of personal data, the Company has to inform Shareholders that their personal data is kept by means of a computer system.
The Company collects, stores and processes by electronic or other means the data supplied by Shareholders at the time of their subscription for the purpose of fulfilling the services required by the Shareholders and complying with its legal obligations.
The data processed includes the name, address and invested amount of each Shareholder (the “Personal Data”).
The investor may, at his/her/its discretion, refuse to communicate the Personal Data to the Company. In this case however the Company may reject his/her/its request for subscription of Shares in the Company.
In particular, the data supplied by Shareholders is processed for the purpose of (i) maintaining the register of Shareholders, (ii) processing subscriptions, redemptions and conversions of Shares and payments of dividends to Shareholders, (iii) performing controls on late trading and market timing practices, (iv) complying with applicable anti-money laundering rules.
The Company can delegate to another entity (the “Processors”) (the Administrative Agent, the Registrar and Transfer Agent and the Management Company) the processing of the Personal Data, in compliance and within the limits of the applicable laws and regulations.
Each Shareholder has a right to access his/her/its Personal Data and may ask for a rectification thereof in cases where such data is inaccurate and incomplete. In relation thereto, the Shareholder can ask for a rectification by letter addressed to the Company.
The Shareholder has a right of opposition regarding the use of its Personal Data for marketing purposes. This opposition can be made by letter addressed to the Company.
The Shareholder’s personal data shall not be held for longer than necessary with regard to the purpose of data processing observing legal periods of limitation. | # PROTECTION DES DONNÉES
Conformément aux dispositions de la loi du 2 août 2002 sur la protection des personnes du regard du traitement de leurs données à caractère personnel, la Société est tenue d’informer les Actionnaires que leurs données personnelles sont conservées par un système informatique.
La Société collecte, conserve et traite, de manière électronique ou autre, les données fournies par les Actionnaires lors de leur souscription afin de réaliser services demandés par les Actionnaires et de remplir ses obligations légales.
Les données traitées comprennent notamment le nom l’adresse et les coordonnées de l’actionnaire, ainsi que le montant investi (les « Données personnelles »).
L’investisseur peut, à sa discrétion, refuser de communiquer les Données personnelles à la Société. Dans ce cas, la Société peut toutefois rejeter sa demande de souscription d’Actions de la Société.
Les données fournies par les Actionnaires sont notamment traitées afin de (i) conserver un registre des Actionnaires, (ii) traiter les souscriptions, les rachats et les conversions d’actions ainsi que les paiements de dividendes aux Actionnaires, (iii) poursuivre des contrôles concernant des pratiques de « late trading » et de « market timing », (iv) se conformer aux règles en vigueur en matière de lutte contre le blanchiment d’argent.
La Société peut déléguer à une autre entité (les « sous-traitants ») (l’Agent administratif, l’Agent de registre et de transfert et la Société de gestion) le traitement des Données personnelles dans le respect et dans limites des lois et réglementations en vigueur.
Chaque Actionnaire conserve un droit d’accès à ses Données personnelles et peut demander une rectification si ces données sont incorrectes ou incomplètes. À cet égard, l’Actionnaire peut demander une rectification par courrier adressé à la Société.
L’Actionnaire peut s’opposer à l’utilisation de ses Données personnelles à des fins de commercialisation. Cette opposition peut être exprimée par courrier adressé à la Société.
Les Données personnelles de l’Actionnaire ne doivent pas être conservées plus longtemps que nécessaire à des fins de traitement des données dans le respect des délais légaux de prescription. | # DATA PROTECTION
In accordance with the provisions of the law of 2 August 2002 on the protection of persons with regard to processing of personal data, the Company has to inform Shareholders that their personal data is kept by means of a computer system.
The Company collects, stores and processes by electronic or other means the data supplied by Shareholders at the time of their subscription for the purpose of fulfilling the services required by the Shareholders and complying with its legal obligations.
The data processed includes the name, address and invested amount of each Shareholder (the “Personal Data”).
The investor may, at his/her/its discretion, refuse to communicate the Personal Data to the Company. In this case however the Company may reject his/her/its request for subscription of Shares in the Company.
In particular, the data supplied by Shareholders is processed for the purpose of (i) maintaining the register of Shareholders, (ii) processing subscriptions, redemptions and conversions of Shares and payments of dividends to Shareholders, (iii) performing controls on late trading and market timing practices, (iv) complying with applicable anti-money laundering rules.
The Company can delegate to another entity (the “Processors”) (the Administrative Agent, the Registrar and Transfer Agent and the Management Company) the processing of the Personal Data, in compliance and within the limits of the applicable laws and regulations.
Each Shareholder has a right to access his/her/its Personal Data and may ask for a rectification thereof in cases where such data is inaccurate and incomplete. In relation thereto, the Shareholder can ask for a rectification by letter addressed to the Company.
The Shareholder has a right of opposition regarding the use of its Personal Data for marketing purposes. This opposition can be made by letter addressed to the Company.
The Shareholder’s personal data shall not be held for longer than necessary with regard to the purpose of data processing observing legal periods of limitation. | en | fr |
DOLFIN725 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Objectives
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 MSCI Europe Small Caps SRI S-Series PAB 5% Capped (NTR) index (Bloomberg: MXEUSSNE index) (the Index) by investing in the shares issued by companies included in the Index, respecting the Index's weightings (full replication), or in a sample of securities included in the Index (optimised replication), or 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.
When investing in a sample of shares, the Fund’s tracking error may be higher.
The Index is composed of European small caps companies selected on the basis of a minimum Environmental, Social and Corporate Governance (ESG) criteria (environmental opportunity, pollution and waste, human capital, corporate governance, etc.) and based on their efforts to reduce their exposure to coal and unconventional fossil fuels. It implements a cap that limits a company’s maximum weight within the Index to 5% on each rebalancing date. In addition, the index aims to comply with the Paris Aligned Benchmark (PAB) targets of reducing carbon intensity by at least 50% relative to the initial investment universe and achieving an additional decarbonisation target of 7% each year. As a result, those subject to significant violations of the UN Global Compact principles and those involved in severe ESG-related controversies are excluded from the Index.
The type of approach implemented here is Best-in-class (Best-in-class approach identifies leaders in each sector based on the best ESG practices, while avoiding those that present high levels of risk and do not comply with minimum ESG standards according to the Index administrator and its specialised partners). The extra-financial strategy of the Index, carried out at each step of the investment process, may comprise methodological limitations such as the risk related to ESG investment or the Index rebalancing.
Further information on the Index, its composition, calculation and rules for periodical review and rebalancing and on the general methodology behind the MSCI indices can be found on www.msci.com.
*The tracking error is a risk indicator that measures how closely a fund tracks the performance of its index.
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. | # Objectifs
Le Fonds est un fonds indiciel géré passivement.
Le Fonds cherche à répliquer (avec un écart de suivi* maximum de 1la performance de l’indice MSCI Europe Small Caps SRI S-Series PAB 5% Capped (NTR) (Bloombergindice MXEUSSNE) (l’Indice) en investissant dans les actions émises par des sociétés composant l’Indice, tout en respectant les pondérations de l’Indice (réplication totale), ou dans un échantillon de titres inclus dans l’Indice (réplication optimisée), ou en investissant dans un panier de substitution composé, entre autres, d’actions de sociétés, de titres de créance ou de liquidités (réplication synthétique). Lors de l’investissement dans un panier de titres appelé «de substitution~ », la performance est échangée contre la performance de l’indice, entraînant un risque de contrepartie.
Lors d’un investissement dans un échantillon d’actions, l’écart de suivi du Fonds peut être plus élevé.
L’Indice est composé de sociétés européennes de petite capitalisation sélectionnées sur la base de critères environnementaux, sociaux et de gouvernance d’entreprise (ESG) minimaux (opportunités environnementales, pollution et déchets, capital humain, gouvernance d’entreprise, etc.) et sur la base de leurs efforts pour réduire leur exposition au charbon et aux combustibles fossiles non conventionnels. Il met en œuvre un plafond qui limite la pondération maximum d’une entreprise dans l’Indice à 5à chaque date de rééquilibrage. L’indice vise également à se conformer aux objectifs du Paris Aligned Benchmark (PAB) visant à réduire l’intensité carbone d’au moins 50par rapport à l’univers d’investissement initial et à atteindre un objectif de décarbonisation supplémentaire de 7par an. Par conséquent, les sociétés ayant commis d’importantes violations des principes du Pacte mondial des Nations unies et les sociétés impliquées dans de graves controverses liées aux critères ESG sont exclues de l’Indice.
Le type d’approche utilisé ici est «~ » (l’approche Best-in-Class identifie les leaders dans chaque secteur en fonction des meilleures pratiques ESG tout en évitant ceux qui présentent des niveaux de risque élevés et qui ne respectent pas les normes ESG minimales selon l’administrateur de l’Indice et ses partenaires spécialisés). La stratégie extra-financière de l’Indice, menée à chaque étape du processus d’investissement, peut comporter des limites méthodologiques telles que le risque lié à l’investissement ESG ou au rééquilibrage de l’Indice.
De plus amples informations sur l’Indice, sa composition, son calcul et les règles de contrôle et de rééquilibrage périodiques, ainsi que sur la méthodologie générale commune à tous les indices MSCI, figurent sur le site Internet www.msci.com.
*’écart de suivi est un indicateur de risque qui mesure l’écart entre la performance d’un fonds et celle de son indice.
Les critères environnementaux, sociaux et de gouvernance (ESG) contribuent, mais ne constituent pas un facteur déterminant, à la prise de décision du gestionnaire.
Les revenus sont réinvestis de manière systématique.
Les investisseurs peuvent demander le rachat de leurs parts sur une base quotidienne (les jours ouvrés bancaires au Luxembourg), comme indiqué dans le prospectus. | # Objectives
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 MSCI Europe Small Caps SRI S-Series PAB 5% Capped (NTR) index (Bloomberg: MXEUSSNE index) (the Index) by investing in the shares issued by companies included in the Index, respecting the Index's weightings (full replication), or in a sample of securities included in the Index (optimised replication), or 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.
When investing in a sample of shares, the Fund’s tracking error may be higher.
The Index is composed of European small caps companies selected on the basis of a minimum Environmental, Social and Corporate Governance (ESG) criteria (environmental opportunity, pollution and waste, human capital, corporate governance, etc.) and based on their efforts to reduce their exposure to coal and unconventional fossil fuels. It implements a cap that limits a company’s maximum weight within the Index to 5% on each rebalancing date. In addition, the index aims to comply with the Paris Aligned Benchmark (PAB) targets of reducing carbon intensity by at least 50% relative to the initial investment universe and achieving an additional decarbonisation target of 7% each year. As a result, those subject to significant violations of the UN Global Compact principles and those involved in severe ESG-related controversies are excluded from the Index.
The type of approach implemented here is Best-in-class (Best-in-class approach identifies leaders in each sector based on the best ESG practices, while avoiding those that present high levels of risk and do not comply with minimum ESG standards according to the Index administrator and its specialised partners). The extra-financial strategy of the Index, carried out at each step of the investment process, may comprise methodological limitations such as the risk related to ESG investment or the Index rebalancing.
Further information on the Index, its composition, calculation and rules for periodical review and rebalancing and on the general methodology behind the MSCI indices can be found on www.msci.com.
*The tracking error is a risk indicator that measures how closely a fund tracks the performance of its index.
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. | en | fr |
DOLFIN726 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
### Composition of costs
The table below shows:
- the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period;
- the meaning of the different cost categories.
- EUR 10,000 is invested. | ### Zusammensetzung der Kosten
Die nachstehende Tabelle zeigt:
- wie sich die verschiedenen Kostenarten jedes Jahr auf die Anlagerendite auswirken, die Sie am Ende der empfohlenen Haltedauer erzielen könnten;
- die Bedeutung der verschiedenen Kostenkategorien.
- EUR 10.000 werden angelegt. | ### Composition of costs
The table below shows:
- the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period;
- the meaning of the different cost categories.
- EUR 10,000 is invested. | en | de |
DOLFIN727 | 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 minimale : 5 ans
Ce produit est conçu aux fins d'un investissement à longterme ; vous devez être prêt à rester investi pendant aumoins 5ans. Cependant, vous pouvezdemander le rachat de votre investissement sans pénalité de désinvestissement avant la fin de la période de détention recommandée, ou conserver l'investissement plus longtemps. Les demandes de rachat doivent être reçues par l'agent de registre et de transfert au plus tard à 11h (heure d’Irlande) le jour ouvrable précédant le Jour de négociation concerné pour pouvoir être traitées sur la base de la valeur liquidative par action applicable à cette date d'évaluation. Les demandes de rachat reçues par l'agent de registre et de transfert après cette heure limite seront traitées à la date d'évaluation suivante. Les rachats peuvent être effectués en nombre d’actions et/ou en espèces. Le versement du produit de rachat sera effectué (3) jours ouvrables bancaires après le rachat des actions, pour autant que ce jour soit un jour où le marché des changes concerné est ouvert. Toute sortie de l'investissement avant la fin de la période de détention recommandée peut avoir une incidence négative sur votre investissement. | # ¿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. | # Combien de temps dois-je le conserver, et puis-je retirer de l’argent de façon anticipée?
### Période de détention recommandée minimale : 5 ans
Ce produit est conçu aux fins d'un investissement à longterme ; vous devez être prêt à rester investi pendant aumoins 5ans. Cependant, vous pouvezdemander le rachat de votre investissement sans pénalité de désinvestissement avant la fin de la période de détention recommandée, ou conserver l'investissement plus longtemps. Les demandes de rachat doivent être reçues par l'agent de registre et de transfert au plus tard à 11h (heure d’Irlande) le jour ouvrable précédant le Jour de négociation concerné pour pouvoir être traitées sur la base de la valeur liquidative par action applicable à cette date d'évaluation. Les demandes de rachat reçues par l'agent de registre et de transfert après cette heure limite seront traitées à la date d'évaluation suivante. Les rachats peuvent être effectués en nombre d’actions et/ou en espèces. Le versement du produit de rachat sera effectué (3) jours ouvrables bancaires après le rachat des actions, pour autant que ce jour soit un jour où le marché des changes concerné est ouvert. Toute sortie de l'investissement avant la fin de la période de détention recommandée peut avoir une incidence négative sur votre investissement. | fr | es |
DOLFIN728 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
## Nominee Arrangements in Holding Permissible PRC Instruments
The Hong Kong Securities Clearing Company Limited (“HKSCC”), a wholly-owned subsidiary of the Hong Kong Exchanges and Clearing Limited, is the “nominee holder” of SSE Securities acquired by Hong Kong and overseas investors, including a Fund, through the Stock Connects. The China Securities Regulatory Commission (“CSRC”) Stock Connects rules expressly provide that investors enjoy the rights and benefits of the SSE Securities acquired through the Stock Connects in accordance with applicable laws. However, the courts in the People’s Republic of China (“PRC”) may consider that any nominee or custodian as registered holder of SSE Securities would have full ownership thereof, and that even if the concept of beneficial owner is recognised under PRC law, those SSE Securities would form part of the pool of assets of such entity available for distribution to creditors of such entities and/or that a beneficial owner may have no rights whatsoever in respect thereof. Consequently, the Company and the Depositary cannot ensure that a Fund’s ownership of these securities or title thereto is assured in all circumstances.
Under the rules of the Central Clearing and Settlement System operated by HKSCC for the clearing of securities listed or traded on SEHK (“CCASS”), HKSCC as nominee holder shall have no obligation to take any legal action or court proceeding to enforce any rights on behalf of the investors in respect of the SSE Securities in the PRC or elsewhere. Therefore, although the relevant Fund’s ownership may be ultimately recognised, the Fund may suffer difficulties or delays in enforcing their rights in Permissible PRC Instruments.
To the extent that HKSCC is deemed to be performing safekeeping functions with respect to assets held through it, it should be noted that the Depositary and a Fund will have no legal relationship with HKSCC and no direct legal recourse against HKSCC in the event that a Fund suffers losses resulting from the performance or insolvency of HKSCC. | ## Nominee-Arrangements beim Halten zulässiger VRC-Instrumente
Die Hong Kong Securities Clearing Company Limited („HKSCC“), eine hundertprozentige Tochtergesellschaft der Hong Kong Exchanges and Clearing Limited, ist der „Nominee-Inhaber“ von SSE-Wertpapieren, die von Anlegern aus Hongkong und Übersee, einschließlich eines Fonds, über die Stock Connect-Programme erworben wurden. Die Regeln der China Securities Regulatory Commission („CSRC“) für die Stock Connect-Programme sehen ausdrücklich vor, dass Anleger die Rechte und Vorteile der über die Stock Connect-Programme erworbenen SSE-Wertpapiere im Einklang mit den geltenden Gesetzen genießen. Die Gerichte in der Volksrepublik China („VRC“) könnten jedoch der Ansicht sein, dass ein Nominee oder Verwahrer als eingetragener Inhaber von SSE-Wertpapieren deren vollständiges Eigentum hat, und dass, selbst wenn das Konzept des wirtschaftlichen Eigentümers nach dem Recht der VRC anerkannt ist, diese SSE-Wertpapiere Teil des Pools von Vermögenswerten eines solchen Rechtsträgers sind, die zur Verteilung an die Gläubiger dieses Rechtsträgers zur Verfügung stehen, und/oder dass ein wirtschaftlicher Eigentümer möglicherweise keinerlei Rechte in Bezug auf diese Wertpapiere hat. Daher können die Gesellschaft und die Verwahrstelle nicht sicherstellen, dass das Eigentumsrecht eines Fonds an diesen Wertpapieren unter allen Umständen gewährleistet ist.
Gemäß den Regeln des von der HKSCC betriebenen zentralen Clearing- und Abrechnungssystems für das Clearing von Wertpapieren, die an der SEHK notiert sind oder gehandelt werden („CCASS“), ist die HKSCC als Nominee-Inhaber nicht verpflichtet, rechtliche Schritte oder Gerichtsverfahren zur Durchsetzung von Rechten im Namen der Anleger in Bezug auf die SSE-Wertpapiere in der VRC oder anderswo einzuleiten. Daher kann der Fonds, auch wenn sein Eigentum letztlich anerkannt wird, Schwierigkeiten oder Verzögerungen bei der Durchsetzung seiner Rechte an zulässigen VRC- Instrumenten erleiden.
Soweit davon ausgegangen wird, dass die HKSCC in Bezug auf die über sie gehaltenen Vermögenswerte Verwahrfunktionen ausübt, ist zu beachten, dass die Verwahrstelle und ein Fonds keine Rechtsbeziehung zur HKSCC und keinen direkten Rechtsanspruch gegen die HKSCC haben, falls ein Fonds Verluste erleidet, die aus der Leistung oder Insolvenz der HKSCC resultieren. | ## Nominee Arrangements in Holding Permissible PRC Instruments
The Hong Kong Securities Clearing Company Limited (“HKSCC”), a wholly-owned subsidiary of the Hong Kong Exchanges and Clearing Limited, is the “nominee holder” of SSE Securities acquired by Hong Kong and overseas investors, including a Fund, through the Stock Connects. The China Securities Regulatory Commission (“CSRC”) Stock Connects rules expressly provide that investors enjoy the rights and benefits of the SSE Securities acquired through the Stock Connects in accordance with applicable laws. However, the courts in the People’s Republic of China (“PRC”) may consider that any nominee or custodian as registered holder of SSE Securities would have full ownership thereof, and that even if the concept of beneficial owner is recognised under PRC law, those SSE Securities would form part of the pool of assets of such entity available for distribution to creditors of such entities and/or that a beneficial owner may have no rights whatsoever in respect thereof. Consequently, the Company and the Depositary cannot ensure that a Fund’s ownership of these securities or title thereto is assured in all circumstances.
Under the rules of the Central Clearing and Settlement System operated by HKSCC for the clearing of securities listed or traded on SEHK (“CCASS”), HKSCC as nominee holder shall have no obligation to take any legal action or court proceeding to enforce any rights on behalf of the investors in respect of the SSE Securities in the PRC or elsewhere. Therefore, although the relevant Fund’s ownership may be ultimately recognised, the Fund may suffer difficulties or delays in enforcing their rights in Permissible PRC Instruments.
To the extent that HKSCC is deemed to be performing safekeeping functions with respect to assets held through it, it should be noted that the Depositary and a Fund will have no legal relationship with HKSCC and no direct legal recourse against HKSCC in the event that a Fund suffers losses resulting from the performance or insolvency of HKSCC. | en | de |
DOLFIN729 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
All of the sub-fund’s current accounts (including those in different currencies) that actually and legally form only part of a single current account are designated as a single current account in connection with net sub-fund assets. Current accounts in foreign currencies, if applicable, are converted into the currency of the sub-fund. Interest is calculated on the basis of the terms of the relevant individual account.
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## Performance fee | Sämtliche Kontokorrentkonten des Teilfonds (auch solche in unterschiedlichen Währungen), die tatsächlich und rechtlich nur Teile eines einheitlichen Kontokorrentkontos bilden, werden in der Zusammensetzung des Netto-Teilfondsvermögens als einheitliches Kontokorrent ausgewiesen. Kontokorrentkonten in Fremdwährung, sofern vorhanden, werden in die Teilfondswährung umgerechnet. Als Basis für die Zinsberechnung gelten die Bedingungen des jeweiligen Einzelkontos.
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## Performancevergütung | All of the sub-fund’s current accounts (including those in different currencies) that actually and legally form only part of a single current account are designated as a single current account in connection with net sub-fund assets. Current accounts in foreign currencies, if applicable, are converted into the currency of the sub-fund. Interest is calculated on the basis of the terms of the relevant individual account.
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## Performance fee | en | de |
DOLFIN730 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# CHAIRMAN
- The Directors may from time to time appoint one or more of their body to be a Chairman of the Company and may fix his or their remuneration.
- The Chairman shall be liable to be dismissed or removed from his position as Chairman by the Directors and another person appointed in his place. The Directors may, however, enter into an agreement with any person who is or is about to become a Chairman with regard to the length and terms of his employment, but so that the remedy of any such person for any breach of such agreement shall be in damages only and he shall have noright or claim to continue in such office contrary to the will of the Directors or of the Company in general meeting.
- The Directors may from time to time entrust to and confer upon the Chairmanall or any of the powers of the Directors (not including the power to borrow money or issue debentures) that they may think fit. But the exercise of all powers by the Chairmanshall be subject to all such regulations and restrictions as the Directors may from time to time make and impose and the said powers may at any time be withdrawn, revoked or varied.
- | # PRÉSIDENT
- Les Administrateurs peuvent nommer en tant que de besoin l’un ou plusieurs d’entre eux en qualité de Président de la Société et déterminer sa ou leur rémunération.
- Le Président pourra être licencié ou destitué de ses fonctions de Président par les Administrateurs et par une autre personne nommée à sa place. Les Administrateurs peuvent néanmoins conclure un accord avec toute personne qui est ou est sur le point de devenir un Président, portant entre autres sur la durée et les modalités de son contrat de travail, mais prévoyant qu'en cas de manquement à ce contrat, le recours soit sous forme de dommages et intérêts uniquement et qu'il n'ait aucun droit de continuer d'assumer ses fonctions ni aucune revendication à cet égard qui serait contraire à la volonté des Administrateurs de la Société réunis en assemblée générale.
- Les Administrateurs peuvent en tant que de besoin confier et conférer au Président tout ou partie des pouvoirs des Administrateurs (à l'exclusion du pouvoir d'emprunter des fonds ou d'émettre des obligations) s'ils le jugent approprié. Cela étant, l'exercice de tous les pouvoirs du Président sera soumis aux réglementations et restrictions que les Administrateurs pourront en tant que de besoin adopter et imposer et lesdits pouvoirs pourront être retirés, révoqués ou modifiés à tout moment.
- | # CHAIRMAN
- The Directors may from time to time appoint one or more of their body to be a Chairman of the Company and may fix his or their remuneration.
- The Chairman shall be liable to be dismissed or removed from his position as Chairman by the Directors and another person appointed in his place. The Directors may, however, enter into an agreement with any person who is or is about to become a Chairman with regard to the length and terms of his employment, but so that the remedy of any such person for any breach of such agreement shall be in damages only and he shall have noright or claim to continue in such office contrary to the will of the Directors or of the Company in general meeting.
- The Directors may from time to time entrust to and confer upon the Chairmanall or any of the powers of the Directors (not including the power to borrow money or issue debentures) that they may think fit. But the exercise of all powers by the Chairmanshall be subject to all such regulations and restrictions as the Directors may from time to time make and impose and the said powers may at any time be withdrawn, revoked or varied.
- | en | fr |
DOLFIN731 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# RISK DEFINITIONS
Risk related to equities
Since the fund is exposed to equities markets, its NAV may fall if the equities markets fall.
Concentration risk
To the extent that the Fund's investments are concentrated in one particular country, market, industry or asset class, it could suffer losses due to adverse occurrences affecting that country, market, industry or asset class.
Risks linked to emerging markets
The Fund invests in emerging markets, which carries a higher risk than investing in developed markets. Investments in emerging markets are likely to experience greater rises and falls in value and may suffer trading problems. A Fund that invests in emerging markets rather than developed countries may en- counter difficulties when buying and selling securities. Emerging markets are also more likely to expe- rience political uncertainty and investments held in these countries may not have the same protection as those held in more developed countries.
Risk related to derivative financial instruments
The risk of a change in the market value of the underlying, liquidity risk, management risk, and risk of default of the counterparty.
Custody risk
Regarding the custody of securities, there may be a risk of loss of goods due to insolvency, due diligence violations or improper conduct of the depositary and sub-depositary.
Liquidity risk
Liquidity risk exists when particular investments are difficult to purchase or sell. This can reduce the Fund's returns because the Fund may be unable to trade at advantageous times or prices. This may result from events of unprecedented intensity and severity, such as pandemics or natural disasters.
Foreign exchange risk
The sub-fund’s assets can be invested in securities that are denominated in a currency other than its reference currency; the NAV of the sub-fund may fluctuate according to the exchange rate between the sub-fund’s reference currency and the currency of the invested securities.
Risks related to investments in China
Specific risk related to investments in Chinese A-shares via the Shanghai/Hong Kong Connect and the Shenzhen/Hong Kong Connect and other risks related to investments in China. | # DÉFINITION DES RISQUES
Risque lié aux actions
Le Fonds étant exposé aux marchés actions, sa valeur liquidative pourra baisser en cas de baisse des marchés actions.
Risque de concentration
Dans la mesure où le Fonds concentre ses investissements dans un pays, un marché, une industrie ou une classe d'actif, il pourrait subir une perte en capital suite à des évènements défavorables affectant spécifiquement ce pays, ce marché, cette industrie ou cette classe d'actif.
Risque lié aux marchés émergents
Le Fonds investit dans les marchés émergents qui portent un risque accru par rapport à un inves- tissement dans les marchés développés. Ces investissements pourraient subir des fluctuations plus marquées et souffrir d'une négociabilité réduite. Un Fonds investissant dans les marchés émergents plutôt que dans les marchés développés pourrait souffrir de conditions défavorables lors de l'achat et de la vente de titres. Les marchés émergents ont également une plus grande probabilité de subir une instabilité politique et de tels investissements peuvent ne pas jouir du même niveau de protection que ceux des pays développés.
Risque lié aux instruments financiers dérivés
Il s’agit des risques de variation de la valeur de marché du sous-jacent, des risques de liquidité, risques de gestion, et risques de défaillance de la contrepartie.
Risque de conservation
En ce qui concerne la concervation des titres, le risque de perte du bien en raison de l'insolvabilité, violations de la diligence raisonnable ou comportement abusif de la part du dépositaire et de sous-dé- positaire peut exister.
Risque de liquidité
Un risque de liquidité existe lorsque des investissements spécifi ques sont diffi ciles à vendre ou à acheter. Ceci pourrait réduire les rendements du Fonds en cas d'incapacité de conclure des transactions à des conditions favorables. Ceci peut résulter d’évènements ayant une intensité et une sévérité sans précédent, tels que des pandémies ou des catastrophes naturelles.
Risque de change
Les actifs du compartiment peuvent être investis dans des valeurs libellées en autres devises que celle de référence, il est donc possible que la VNI du compartiment fluctue en fonction des taux de change exis- tants entre la devise de référence du compartiment et la devise dans laquelle les valeurs ont été investies.
Risque lié aux investissements en Chine
Risque spécifique lié à l’investissement dans les actions chinoises “A” via le Shanghai/Hong Kong Connect et le Shenzhen/Hong Kong Connect et autres risques liés aux investissements en Chine. | # RISK DEFINITIONS
Risk related to equities
Since the fund is exposed to equities markets, its NAV may fall if the equities markets fall.
Concentration risk
To the extent that the Fund's investments are concentrated in one particular country, market, industry or asset class, it could suffer losses due to adverse occurrences affecting that country, market, industry or asset class.
Risks linked to emerging markets
The Fund invests in emerging markets, which carries a higher risk than investing in developed markets. Investments in emerging markets are likely to experience greater rises and falls in value and may suffer trading problems. A Fund that invests in emerging markets rather than developed countries may en- counter difficulties when buying and selling securities. Emerging markets are also more likely to expe- rience political uncertainty and investments held in these countries may not have the same protection as those held in more developed countries.
Risk related to derivative financial instruments
The risk of a change in the market value of the underlying, liquidity risk, management risk, and risk of default of the counterparty.
Custody risk
Regarding the custody of securities, there may be a risk of loss of goods due to insolvency, due diligence violations or improper conduct of the depositary and sub-depositary.
Liquidity risk
Liquidity risk exists when particular investments are difficult to purchase or sell. This can reduce the Fund's returns because the Fund may be unable to trade at advantageous times or prices. This may result from events of unprecedented intensity and severity, such as pandemics or natural disasters.
Foreign exchange risk
The sub-fund’s assets can be invested in securities that are denominated in a currency other than its reference currency; the NAV of the sub-fund may fluctuate according to the exchange rate between the sub-fund’s reference currency and the currency of the invested securities.
Risks related to investments in China
Specific risk related to investments in Chinese A-shares via the Shanghai/Hong Kong Connect and the Shenzhen/Hong Kong Connect and other risks related to investments in China. | en | fr |
DOLFIN732 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Cet indicateur est basé sur des données historiques et pourrait ne pas constituer un indicateur fiable du profil de risque et de rendement futur du Fonds. La catégorie de risque présentée n’est pas garantie et est susceptible d’évoluer dans le temps. La catégorie 1 n’est pas synonyme d’investissement sans risque.
La Catégorie I EU du Fonds a été classifiée dans la catégorie de risque 6 en raison de la fluctuation relativement importante de sa Valeur d'actif net. L'opportunité de réaliser des bénéfices conséquents est corrélée à un risque de pertes importantes.
Lors de la catégorisation d’un fonds, il est possible que la méthodologie utilisée ne couvre pas l’ensemble des risques importants. Une description détaillée des risques peut être retrouvée dans le Prospectus. Les risques suivants n'ont pas d’incidence sur la catégorisation du Fonds, mais peuvent avoir une influence sur le profil de risque global du Fonds :
Risques liés aux investissements dans des sociétés toutes capitalisations confondues : Investir dans des sociétés toutes capitalisations confondues comporte le risque que les émetteurs moins importants et plus récents dans lesquels le Fonds investit aient des gammes de produits ou des ressources financières limitées ou aient une gestion peu approfondie.
Risques liés aux investissements dans des valeurs de croissance : Les cours des valeurs de croissance sont en principe supérieurs aux bénéfices de leurs entreprises. Les valeurs de croissance peuvent être plus sensibles aux marchés, aux développements économiques et politiques que d’autres valeurs, ce qui rend leurs cours plus volatils.
Risques liés à l’utilisation de produits dérivés : Le Fonds peut investir dans, ou souscrire à, des produits dérivés pour différentes raisons, y compris pour des raisons de couverture contre certains risques de marché ou de taux d'intérêts, pour fournir un substitut à l'achat ou la vente de titres particuliers ou pour augmenter les revenus potentiels. Un investissement négligeable dans des produits dérivés peut avoir une incidence importante sur la performance du Fonds.
Risques liés aux investissements dans les pays émergents : La performance du Fonds sera influencée par des facteurs politiques, sociaux et économiques ayant une incidence sur les investissements dans des entreprises étrangères. Les risques spécifiques associés aux investissements dans des entreprises étrangères incluent l’exposition aux fluctuations de change, à une moindre liquidité, à des marchés boursiers moins développés ou moins efficients, au manque de données exhaustives sur les entreprises, à l’instabilité politique et à des différences en termes de normes d’audit et juridiques.
Risques liés au système Shanghai Hong Kong Stock Connect : Ce risque a trait à la négociation ainsi qu’à la compensation de titres via le système Stock Connect. Stock Connect est soumis à une limitation en termes de quotas susceptible de restreindre la capacité du Fonds à investir en Actions A chinoises en temps voulu. En outre, le système Stock Connect est nouveau par nature, les réglementations n’ont pas été éprouvées et il n’existe aucune certitude quant à la manière dont elles seront appliquées, ce qui peut affecter la capacité du Fonds à faire valoir ses droits et intérêts sur les Actions A chinoises.
DocID: KIID_LU1232088549_fr_20220210_143_3_Class_I_EU_476142 | Este indicador se basa en datos históricos y podría no ser una referencia fiable del perfil de riesgo y remuneración futura del Fondo. La categoría de riesgo mostrada no está garantizada y puede cambiar a lo largo del tiempo. El hecho de que una inversión pertenezca a la categoría 1 no significa que esté exenta de riesgo.
La Clase I EU del fondo ha sido clasificada en la categoría 6 porque la fluctuación de su valor liquidativo es relativamente elevada. La oportunidad de obtener ganancias elevadas es proporcional al riesgo de incurrir en fuertes pérdidas.
La metodología utilizada en la asignación de categoría a un fondo puede no recoger todos los riesgos significativos. En el Folleto se incluye una descripción detallada de los riesgos. Los siguientes riesgos no influyen en la asignación de categoría del Fondo, pero pueden ser importantes para el perfil de riesgo general del Fondo:
Riesgos asociados a la inversión en empresas de todo tipo de capitalización: Invertir en empresas de todo tipo de capitalización comporta el riesgo de que los emisores de menor tamaño y menos consolidados en los que invierte el Fondo posean unas líneas de productos o recursos financieros más reducidos, o carezcan de una gestión sólida.
Riesgos asociados a inversiones en acciones de crecimiento: Los precios de las acciones de crecimiento suelen ser superiores en relación con las ganancias de las empresas. Las acciones de crecimiento pueden ser más sensibles a los acontecimientos del mercado, económicos y políticos que otras acciones, por lo que sus precios son más volátiles.
Riesgos asociados a la inversión en derivados: El Fondo puede invertir o tomar parte en derivados por distintos motivos, como por ejemplo, para obtener cobertura frente a ciertos riesgos de mercado o de tipo de interés, para utilizarlos como sustitutos en la compra o venta de determinados valores o para incrementar el potencial de rentabilidad. Una pequeña inversión en derivados puede influir sustancialmente en la rentabilidad del Fondo.
Riesgos asociados a inversiones en países emergentes: La rentabilidad del fondo será sensible a factores políticos, sociales y económicos que afectan a las inversiones en empresas extranjeras. Entre los riesgos especiales asociados a la inversión en empresas extranjeras se incluyen la exposición a las fluctuaciones de las divisas, un menor nivel de liquidez, mercados menos desarrollados o menos eficaces, ausencia de información exhaustiva sobre las empresas, inestabilidad política, y normas legales y de auditoría diferentes.
Riesgos asociados con el programa Shanghai-Hong Kong Stock Connect: Este riesgo tiene que ver con los valores que se negocian y se compensan a través de Stock Connect. Stock Connect está sujeto a un límite de cuota que puede restringir la capacidad del fondo para invertir oportunamente en las Acciones A de China. Por otra parte, dado que Stock Connect es un programa de nueva introducción y su normativa no ha sido probada, no existe certeza respecto a cómo se aplicará, lo cual podría afectar a la capacidad del Fondo para hacer valer sus derechos e intereses en las Acciones A de China.
DocID: KIID_LU1232088549_es_20220210_143_6_Class_I_EU_476142 | Cet indicateur est basé sur des données historiques et pourrait ne pas constituer un indicateur fiable du profil de risque et de rendement futur du Fonds. La catégorie de risque présentée n’est pas garantie et est susceptible d’évoluer dans le temps. La catégorie 1 n’est pas synonyme d’investissement sans risque.
La Catégorie I EU du Fonds a été classifiée dans la catégorie de risque 6 en raison de la fluctuation relativement importante de sa Valeur d'actif net. L'opportunité de réaliser des bénéfices conséquents est corrélée à un risque de pertes importantes.
Lors de la catégorisation d’un fonds, il est possible que la méthodologie utilisée ne couvre pas l’ensemble des risques importants. Une description détaillée des risques peut être retrouvée dans le Prospectus. Les risques suivants n'ont pas d’incidence sur la catégorisation du Fonds, mais peuvent avoir une influence sur le profil de risque global du Fonds :
Risques liés aux investissements dans des sociétés toutes capitalisations confondues : Investir dans des sociétés toutes capitalisations confondues comporte le risque que les émetteurs moins importants et plus récents dans lesquels le Fonds investit aient des gammes de produits ou des ressources financières limitées ou aient une gestion peu approfondie.
Risques liés aux investissements dans des valeurs de croissance : Les cours des valeurs de croissance sont en principe supérieurs aux bénéfices de leurs entreprises. Les valeurs de croissance peuvent être plus sensibles aux marchés, aux développements économiques et politiques que d’autres valeurs, ce qui rend leurs cours plus volatils.
Risques liés à l’utilisation de produits dérivés : Le Fonds peut investir dans, ou souscrire à, des produits dérivés pour différentes raisons, y compris pour des raisons de couverture contre certains risques de marché ou de taux d'intérêts, pour fournir un substitut à l'achat ou la vente de titres particuliers ou pour augmenter les revenus potentiels. Un investissement négligeable dans des produits dérivés peut avoir une incidence importante sur la performance du Fonds.
Risques liés aux investissements dans les pays émergents : La performance du Fonds sera influencée par des facteurs politiques, sociaux et économiques ayant une incidence sur les investissements dans des entreprises étrangères. Les risques spécifiques associés aux investissements dans des entreprises étrangères incluent l’exposition aux fluctuations de change, à une moindre liquidité, à des marchés boursiers moins développés ou moins efficients, au manque de données exhaustives sur les entreprises, à l’instabilité politique et à des différences en termes de normes d’audit et juridiques.
Risques liés au système Shanghai Hong Kong Stock Connect : Ce risque a trait à la négociation ainsi qu’à la compensation de titres via le système Stock Connect. Stock Connect est soumis à une limitation en termes de quotas susceptible de restreindre la capacité du Fonds à investir en Actions A chinoises en temps voulu. En outre, le système Stock Connect est nouveau par nature, les réglementations n’ont pas été éprouvées et il n’existe aucune certitude quant à la manière dont elles seront appliquées, ce qui peut affecter la capacité du Fonds à faire valoir ses droits et intérêts sur les Actions A chinoises.
DocID: KIID_LU1232088549_fr_20220210_143_3_Class_I_EU_476142 | fr | es |
DOLFIN733 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
| Practical Information |
| --- |
| Fund’s Depositary and Administrative Agent: Management Company: Brown Brothers Harriman (Luxembourg) S.C.A. Natixis Investment Managers S.A. 80, route d’Esch 2, rue Jean Monnet L-1470 Luxembourg L-2180 Luxembourg Cut-off Deadline: D at 13h30 (Luxembourg time) Additional information about the SICAV and the Fund (including English versions of the full prospectus, reports and accounts for the entire SICAV), procedure for the exchange of Shares from one sub-fund to another sub-fund, may be obtained free of charge at the registered office of the Management Company or the Depositary and Administrative Agent. Price per Share of the Fund may be obtained at im.natixis.com or at the registered office of the Management Company or the Administrative Agent. Assets and liabilities of each sub-fund are segregated, therefore the rights of investors and creditors concerning a sub-fund are limited to the assets of that sub-fund, unless otherwise provided in the constitutional documents of the SICAV. This Fund might be subject to specific tax treatment in Luxembourg. Depending on your own country of residence, this might have an impact on your investment. For further details, please contact an adviser. Details of the Management Company’s up-to-date remuneration policy, which describes how remuneration and benefits are calculated and awarded, can be accessed from the following website: https://im.natixis.com/intl/regulatory-information. A paper copy of the remuneration policy is also available free of charge upon request to the Management Company. |
| Additional Information |
| Share Class | ISIN | Types of investors | Currency | Minimum Initial Investment** | Minimum Holding** | Dividend Policy | TER |
| N1/A(USD) | LU2045818510 | Retail Investors | U.S. dollar | USD 500,000 | 1 Share | Accumulation | 1.00% p.a. |
| H-N1/A(EUR) | LU2045818601 | Retail Investors | Euro | USD 500,000 | 1 Share | Accumulation | 1.00% p.a. |
| N1/A(GBP) | LU2171378537 | Retail Investors | British Pound | USD 500,000 | 1 Share | Accumulation | 1.00% p.a. |
| **or equivalent in the currency of the relevant Share Class, where Minimum Initial Investment/Minimum Holding is expressed as an amount of currency Natixis Investment Managers S.A. may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund. | | | Información práctica |
| --- |
| Depositario y agente administrativo del fondo: Sociedad de gestión: Brown Brothers Harriman (Luxembourg) S.C.A. Natixis Investment Managers S.A. 80, route d’Esch 2, rue Jean Monnet L-1470 Luxembourg L-2180 Luxembourg Hora límite para instrucciones: D a las 13:30 h (hora de Irlanda) Puede obtenerse información adicional gratuita sobre la SICAV y el fondo (incluidas versiones en inglés del folleto completo, los informes y las cuentas de toda la SICAV), y sobre el procedimiento de canje de acciones entre subfondos, en el domicilio social de la sociedad de gestión o del depositario y el agente administrativo. El precio por acción del fondo puede obtenerse en im.natixis.com o en el domicilio social de la sociedad de gestión o del agente administrativo. Los activos y pasivos de cada subfondo están segregados, por lo que los derechos de los inversores y los acreedores respecto a un subfondo se limitan a los activos de ese subfondo, salvo que en los documentos de constitución de la SICAV se indique algo distinto. El fondo puede estar sujeto a tratamiento fiscal específico en Luxemburgo. Según cuál sea su país de residencia, esto podría afectar a su inversión. Para conocer más detalles, consúltese a un asesor. Los detalles de la política de remuneración actual de la sociedad de gestión, que describe cómo se calculan y otorgan la remuneración y los beneficios, pueden consultarse en el siguiente sitio web: https://im.natixis.com/intl/regulatory-information. También se encuentra disponible una copia impresa de la política de remuneración, sin cargo alguno, previa solicitud a la sociedad de gestión. |
| Información adicional |
| Clase de acciones | ISIN | Tipo de inversores | Moneda | Inversión inicial mínima** | Tenencia mínima** | Política de dividendos | TER |
| N1/A(USD) | LU2045818510 | Inversores minoristas | Dólar estadounidense | 500.000 USD | 1 acción | Acumulación | 1,00% anual |
| H-N1/A(EUR) | LU2045818601 | Inversores minoristas | Euro | 500.000 USD | 1 acción | Acumulación | 1,00% anual |
| N1/A(GBP) | LU2171378537 | Inversores minoristas | Libra esterlina | 500.000 USD | 1 acción | Acumulación | 1,00% anual |
| **o equivalente en la divisa de la clase de acciones correspondiente, en caso de que la inversión inicial mínima/tenencia mínima se exprese como un importe de una divisa. Natixis Investment Managers S.A. 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. | | | Practical Information |
| --- |
| Fund’s Depositary and Administrative Agent: Management Company: Brown Brothers Harriman (Luxembourg) S.C.A. Natixis Investment Managers S.A. 80, route d’Esch 2, rue Jean Monnet L-1470 Luxembourg L-2180 Luxembourg Cut-off Deadline: D at 13h30 (Luxembourg time) Additional information about the SICAV and the Fund (including English versions of the full prospectus, reports and accounts for the entire SICAV), procedure for the exchange of Shares from one sub-fund to another sub-fund, may be obtained free of charge at the registered office of the Management Company or the Depositary and Administrative Agent. Price per Share of the Fund may be obtained at im.natixis.com or at the registered office of the Management Company or the Administrative Agent. Assets and liabilities of each sub-fund are segregated, therefore the rights of investors and creditors concerning a sub-fund are limited to the assets of that sub-fund, unless otherwise provided in the constitutional documents of the SICAV. This Fund might be subject to specific tax treatment in Luxembourg. Depending on your own country of residence, this might have an impact on your investment. For further details, please contact an adviser. Details of the Management Company’s up-to-date remuneration policy, which describes how remuneration and benefits are calculated and awarded, can be accessed from the following website: https://im.natixis.com/intl/regulatory-information. A paper copy of the remuneration policy is also available free of charge upon request to the Management Company. |
| Additional Information |
| Share Class | ISIN | Types of investors | Currency | Minimum Initial Investment** | Minimum Holding** | Dividend Policy | TER |
| N1/A(USD) | LU2045818510 | Retail Investors | U.S. dollar | USD 500,000 | 1 Share | Accumulation | 1.00% p.a. |
| H-N1/A(EUR) | LU2045818601 | Retail Investors | Euro | USD 500,000 | 1 Share | Accumulation | 1.00% p.a. |
| N1/A(GBP) | LU2171378537 | Retail Investors | British Pound | USD 500,000 | 1 Share | Accumulation | 1.00% p.a. |
| **or equivalent in the currency of the relevant Share Class, where Minimum Initial Investment/Minimum Holding is expressed as an amount of currency Natixis Investment Managers S.A. may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund. | | en | es |
DOLFIN734 | 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 or less than 1,000.
Related Parties
Jane Trust and Joseph Carrier, Jaspal Sagger and Victoria Rock (as of 19 September 2019), have been or are, respectively, Directors of the Company and have been or are, respectively, also directors and/or executives of certain affiliates of the Manager, the Investment Managers, the Distributors and the Shareholder Servicing Agents. Save as disclosed above, none of the Directors has any interest, direct or indirect, in any contract or arrangement subsisting at the date hereof which is significant in relation to the business of the Company.
As at 30 June 2020 and 30 June 2019, the Funds in the table below held investments in collective investment schemes which have appointed the same Manager, Investment Manager, or Sub-Investment Manager as the Funds, or have appointed a related party of that Manager, Investment Manager or Sub-Investment Manager. | Gli importi indicati con “–” sono pari a 0 o inferiori a 1.000.
Parti correlate
Jane Trust e Joseph Carrier, Jaspal Sagger e Victoria Rock (al 19 settembre 2019), sono stati o sono, rispettivamente, Ammini stratori della Società e sono stati o sono, rispettivamente, anche Amministratori e/o dirigenti di alcune affiliate della Società di Gestione, dei Gestori degli Investimenti, dei Distributori e degli Agenti di Servizione degli Azionisti. Salvo quanto dichiarato sopra, nessuno degli Amministratori ha interessi, diretti o indiretti, in qualsiasi contratto o accordo esistenti alla data del presente bilancio che sono significativi in relazione all’attività della Società.
Al 30 giugno 2020 e 30 giugno 2019, i Comparti nella tabella seguente detenevano investimenti in organismi di investimento collettivo che hanno nominato lo stesso Gestore, Gestore degli investimenti o Gestore Aggiunto degli investimenti dei Comparti, o hanno nominato una parte correlata di tale Gestore, Gestore degli investimenti o Gestore Aggiunto degli investimenti. | Amounts designated as “–” are either 0 or less than 1,000.
Related Parties
Jane Trust and Joseph Carrier, Jaspal Sagger and Victoria Rock (as of 19 September 2019), have been or are, respectively, Directors of the Company and have been or are, respectively, also directors and/or executives of certain affiliates of the Manager, the Investment Managers, the Distributors and the Shareholder Servicing Agents. Save as disclosed above, none of the Directors has any interest, direct or indirect, in any contract or arrangement subsisting at the date hereof which is significant in relation to the business of the Company.
As at 30 June 2020 and 30 June 2019, the Funds in the table below held investments in collective investment schemes which have appointed the same Manager, Investment Manager, or Sub-Investment Manager as the Funds, or have appointed a related party of that Manager, Investment Manager or Sub-Investment Manager. | en | it |
DOLFIN735 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Exemple d’investissement 10 000 EUR | Si vous sortez après 1 an | Si vous sortez après 3 ans (période de détention recommandée) |
| --- | --- | --- |
| Coûts totaux | 400 EUR | 610 EUR |
| Incidence des coûts annuels (*) | 4 % | 1,94 % | | | Ejemplo de inversión 10 000 EUR | En caso de salida después de 1 año | En caso de salida después de 3 años (período de mantenimiento recomendado) |
| --- | --- | --- |
| Costes totales | 400 EUR | 610 EUR |
| Incidencia anual de los costes (*) | 4 % | 1,94 % | | | Exemple d’investissement 10 000 EUR | Si vous sortez après 1 an | Si vous sortez après 3 ans (période de détention recommandée) |
| --- | --- | --- |
| Coûts totaux | 400 EUR | 610 EUR |
| Incidence des coûts annuels (*) | 4 % | 1,94 % | | fr | es |
DOLFIN736 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
## Objectives
The objective of the Product is to outperform its benchmark over a full market cycle by investing in an actively managed portfolio. Environment, social and governance (ESG) criteria are one of the management components. However, the individual weighting of each of these criteria in the final decision is not defined in advance.
Benchmark: The performance of the Product may be compared to the MSCI Emerging Markets Index denominated in USD, calculated with net dividend income reinvested. The Product is actively managed. The benchmark is used only for performance comparison purposes.
Investment policy: The Product invests at least 70% of its net assets in shares (ordinary and preference) or equivalent securities issued by companies that are domiciled, listed or have their head office in emerging markets, or that carry out the majority of their business activities in emerging markets.
To a lesser extent, the Product may invest in equities of companies that are domiciled in other geographical areas.
The Product may invest up to 20% of its net assets in China A-Shares through the Shanghai-Hong Kong Stock Connect programme and/or the Shenzhen-Hong Kong Stock Connect programme.
Up to 100% of the Product's net assets may be exposed to currency risk.
In order to protect its assets and/or achieve its management objective, the Product may use derivative financial instruments traded on regulated markets or over-the-counter (OTC) markets.
For cash management purposes, the Product may invest up to 25% of its net assets in transferable debt securities and money market instruments. The Product will mainly target public or private issuers.
At least 75% of the companies in the portfolio will have an ESG rating. This may be either an internal ESG rating such as that defined by the Management Company's sustainable investment and ESG integration policy (available online at the following link: https://am.jpmorgan.com/gb/en/asset-management/adv/investment-themes/sustainable-investing), or a rating provided by an external non-financial rating agency. At the end of this process, the Fund will have a higher ESG rating than that of its investment universe.
In addition, the selection process for securities includes negative filtering with the aim of excluding companies that contribute to the production of controversial weapons, in accordance with international conventions on the matter, as well as companies exposed to activities related to thermal coal or tobacco, in accordance with the exclusion policy of the Edmond de Rothschild Group, available on its website at https://www.edmond-de-rothschild.com/en/Pages/Responsible-investment.aspx.
The Product falls within the scope of Article 8(1) of the Sustainable Finance Disclosure Regulation (SFDR) because it promotes a combination of ESG factors, even though no benchmark has been designated for the purposes of achieving these environmental and social factors.
In light of its ESG strategy, the Product promotes environmental factors but does not invest in environmentally sustainable economic activities as defined in the Taxonomy Regulation. The investments underlying this financial product do not take into account the European Union's criteria regarding sustainable economic activities as defined in the Taxonomy Regulation.
Income allocation: Distribution | ## Objectifs
L'objectif du Produit est de surperformer son indice de référence, sur un cycle de marché complet, en investissant dans un portefeuille géré activement. Les critères environnementaux, sociaux et de gouvernance (ESG) sont une des composantes de la gestion. Néanmoins le poids individuel de chacun de ces critères dans la décision finale n’est pas défini en amont. Indice de référence : La performance du Produit peut être comparée à l’Indice MSCI Emerging Market, exprimé en USD, calculé avec dividendes nets réinvestis.
Le Produit est géré activement. L’indice de référence est utilisé uniquement à des fins de comparaison de performance.
Politique d'investissement : Le Produit investit au moins 70% de son actif net dans des actions (ordinaires et préférentielles) ou titres assimilés émis par des sociétés domiciliées, cotées ou ayant leur siège social dans les marchés émergents ou qui exercent la plupart de leurs activités sur les marchés émergents.
Le Produit pourra investir dans une moindre mesure dans des actions de sociétés dont le siège social est situé dans d’autres zones géographiques.
Le Produit peut investir dans des Actions A chinoises via le programme Shanghai-Hong Kong Stock Connect et/ou le programme Shenzhen-Hong Kong Stock Connect jusqu’à 20% de son actif net.
Le Produit pourra être exposé au risque de change jusqu’à 100% de son actif net.
Dans un but de protection de ses actifs et/ou de réalisation de son objectif de gestion le Produit peut avoir recours aux instruments financiers dérivés négociés sur des Marchés réglementés ou de gré à gré.
Pour des besoins de gestion de trésorerie, le Produit peut investir jusqu’à 25% de ses actifs nets en titres de créance transférables et Instruments du Marché monétaire. Le Produit ciblera principalement des émissions d’émetteurs publics ou privés.
Au moins 75 % des sociétés du portefeuille auront une notation ESG. Il s'agira soit d'une notation ESG interne telle que définie par la politique d'intégration ESG et d'investissement responsable du gestionnaire (disponible sur son site Internet au lien suivant : https://am.jpmorgan.com/gb/en/asset-management/adv/investment-themes/sustainable-investing), soit d'une notation fournie par une agence de notation extra-financière externe. À la fin de ce processus, le Fonds aura une notation ESG supérieure à celle de son univers d'investissement.
En outre, le processus de sélection des titres inclut un filtrage négatif visant à exclure les sociétés qui contribuent à la production d’armes controversées, conformément aux conventions internationales dans ce domaine, ainsi que les sociétés exposées à des activités liées au charbon thermique ou au tabac, conformément à la politique d’exclusion du Groupe Edmond de Rothschild, disponible sur son site Internet. https://www.edmond-de-rothschild.com/fr/asset-management/investissement-responsable.
Le Produit est classé « Article 8(1) du règlement Durabilité » car il promeut un ensemble de caractéristiques ESG, bien qu’aucun indice de référence n’ait été désigné aux fins d’atteindre ces caractéristiques environnementales ou sociales.
Compte tenu de sa stratégie ESG, le Produit promeut les caractéristiques environnementales mais n'investit pas dans des activités économiques écologiquement durables au sens du Règlement Taxonomie. Les investissements sous-jacents à ce produit financier ne prennent pas en compte les critères de l'UE pour les activités économiques durables sur le plan environnemental, dans le cadre du Règlement Taxonomie.
Affectation des revenus : Distribution | ## Objectives
The objective of the Product is to outperform its benchmark over a full market cycle by investing in an actively managed portfolio. Environment, social and governance (ESG) criteria are one of the management components. However, the individual weighting of each of these criteria in the final decision is not defined in advance.
Benchmark: The performance of the Product may be compared to the MSCI Emerging Markets Index denominated in USD, calculated with net dividend income reinvested. The Product is actively managed. The benchmark is used only for performance comparison purposes.
Investment policy: The Product invests at least 70% of its net assets in shares (ordinary and preference) or equivalent securities issued by companies that are domiciled, listed or have their head office in emerging markets, or that carry out the majority of their business activities in emerging markets.
To a lesser extent, the Product may invest in equities of companies that are domiciled in other geographical areas.
The Product may invest up to 20% of its net assets in China A-Shares through the Shanghai-Hong Kong Stock Connect programme and/or the Shenzhen-Hong Kong Stock Connect programme.
Up to 100% of the Product's net assets may be exposed to currency risk.
In order to protect its assets and/or achieve its management objective, the Product may use derivative financial instruments traded on regulated markets or over-the-counter (OTC) markets.
For cash management purposes, the Product may invest up to 25% of its net assets in transferable debt securities and money market instruments. The Product will mainly target public or private issuers.
At least 75% of the companies in the portfolio will have an ESG rating. This may be either an internal ESG rating such as that defined by the Management Company's sustainable investment and ESG integration policy (available online at the following link: https://am.jpmorgan.com/gb/en/asset-management/adv/investment-themes/sustainable-investing), or a rating provided by an external non-financial rating agency. At the end of this process, the Fund will have a higher ESG rating than that of its investment universe.
In addition, the selection process for securities includes negative filtering with the aim of excluding companies that contribute to the production of controversial weapons, in accordance with international conventions on the matter, as well as companies exposed to activities related to thermal coal or tobacco, in accordance with the exclusion policy of the Edmond de Rothschild Group, available on its website at https://www.edmond-de-rothschild.com/en/Pages/Responsible-investment.aspx.
The Product falls within the scope of Article 8(1) of the Sustainable Finance Disclosure Regulation (SFDR) because it promotes a combination of ESG factors, even though no benchmark has been designated for the purposes of achieving these environmental and social factors.
In light of its ESG strategy, the Product promotes environmental factors but does not invest in environmentally sustainable economic activities as defined in the Taxonomy Regulation. The investments underlying this financial product do not take into account the European Union's criteria regarding sustainable economic activities as defined in the Taxonomy Regulation.
Income allocation: Distribution | en | fr |
DOLFIN737 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# For further details please refer to the Prospectus and Supplement.
RISK AND REWARD PROFILE
Lower risk Higher risk
Typically lower rewards Typically higher rewards
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
The risk number is based on the rate at which the value of the simulated data of the Fund has moved up and down in the past, and is an indicator of absolute risk.
- Historical and simulated data may not be a reliable indicator for the future
- The Fund's ranking is not guaranteed and may change over time
- The lowest risk category does not mean the investment is risk free
- The Fund is categorised as a 5 for the purposes of this table due to the nature of its investments
- The value of investments and the income may go down as well as up and investors may not get back the amount they invest | # Für weitere Angaben wird auf den Prospekt und den Nachtrag verwiesen.
RISIKO- UND ERTRAGSPROFIL
Geringeres Risiko Höheres Risiko
Typischerweise geringere Rendite Typischerweise höhere Rendite
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Die Risikokennzahl basiert auf dem Maß, in dem sich der Wert der simulierten Daten des Fonds in der Vergangenheit nach oben und nach unten bewegt hat, und ist ein Indikator für das absolute Risiko.
- Historische und simulierte Daten sind mitunter kein verlässlicher Indikator für die Zukunft
- Die Einstufung des Fonds ist nicht garantiert und kann sich im Laufe der Zeit ändern
- Auch die niedrigste Risikokategorie stellt keine risikolose Anlage dar
- Der Fonds ist für die Zwecke dieser Tabelle aufgrund der Art seiner Anlagen als eingestuft
- 5 Der Wert von Anlagen und die Erträge können sowohl steigen als auch fallen, und die Anleger erhalten den von ihnen investierten Betrag unter Umständen nicht zurück | # For further details please refer to the Prospectus and Supplement.
RISK AND REWARD PROFILE
Lower risk Higher risk
Typically lower rewards Typically higher rewards
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
The risk number is based on the rate at which the value of the simulated data of the Fund has moved up and down in the past, and is an indicator of absolute risk.
- Historical and simulated data may not be a reliable indicator for the future
- The Fund's ranking is not guaranteed and may change over time
- The lowest risk category does not mean the investment is risk free
- The Fund is categorised as a 5 for the purposes of this table due to the nature of its investments
- The value of investments and the income may go down as well as up and investors may not get back the amount they invest | en | de |
DOLFIN738 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The invested cash collateral should be diversified in accordance with the diversification criteria that are applicable to collateral that was not provided in the form of cash and was described above.
A fund may suffer losses when investing the cash collateral that it has received. A loss of this nature may result from a decline in the value of the investments performed using the received cash collateral. If the value of the invested cash collateral falls, then this shall reduce the sum of the collateral that is available to the fund for returning to the counterparty when concluding the transaction. The fund would be required to cover the difference in value between the original received collateral and the sum available for returning to the counterparties that would lead to the fund suffering a loss.
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# Investments in units of other UCITSs or in other undertakings for collective investment which are comparable to an UCITS | Die angelegten Barsicherheiten sollten im Einklang mit den Diversifikationsanforderungen diversifiziert werden, die für Sicherheiten gelten, die nicht in Form von Bargeld gestellt wurden und die vorstehend beschrieben wurden.
Einem Fonds können bei der Anlage der von ihm entgegengenommenen Barsicherheiten Verluste entstehen. Ein solcher Verlust kann durch einen Wertverlust der mit den entgegengenommenen Barsicherheiten getätigten Anlage entstehen. Sinkt der Wert der angelegten Barsicherheiten, so reduziert dies den Betrag der Sicherheiten, die dem Teilfonds bei Ab- schluss des Geschäfts für die Rückgabe an die Gegenpartei zur Verfügung standen. Der Fonds müsste den wertmässigen Unterschiedsbetrag zwischen den ursprünglich erhaltenen Sicherheiten und dem für die Rückgabe an den Kontrahenten zur Verfügung stehenden Betrag abdecken, wodurch dem Fonds ein Verlust entstehen würde.
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# Anlagen in Anteile an anderen OGAW oder an anderen mit einem OGAW vergleichbaren Organismen für gemeinsame Anlagen | The invested cash collateral should be diversified in accordance with the diversification criteria that are applicable to collateral that was not provided in the form of cash and was described above.
A fund may suffer losses when investing the cash collateral that it has received. A loss of this nature may result from a decline in the value of the investments performed using the received cash collateral. If the value of the invested cash collateral falls, then this shall reduce the sum of the collateral that is available to the fund for returning to the counterparty when concluding the transaction. The fund would be required to cover the difference in value between the original received collateral and the sum available for returning to the counterparties that would lead to the fund suffering a loss.
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# Investments in units of other UCITSs or in other undertakings for collective investment which are comparable to an UCITS | en | de |
DOLFIN739 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Fund description
The fund has two aims: to provide a growing level of income over any three-year period through investment in a range of assets from around the world; and to provide capital growth of 2-4% on average per year over any three-year period. The core of the fund comprises company shares and fixed income securities, with a focus on income-generating assets. It may also invest via derivatives or through other funds. The holdings in different asset classes will be adjusted regularly according to where the fund manager sees the most value and to manage risks. There is no guarantee that the fund will achieve a positive return over any period. Investors may not get back the original amount they invested. | # Fondsbeschreibung
Der Fonds verfolgt zwei Ziele: Wachsende laufende Erträge über Perioden von jeweils drei Jahren durch Anlagen in unterschiedlichen Vermögenswerten weltweit sowie ein Kapitalwachstum von durchschnittlich 2% bis 4% pro Jahr über Perioden von jeweils drei Jahren. Der Kern des Fonds setzt sich aus Unternehmensaktien und Anleihen zusammen, mit Schwerpunkt auf Vermögenswerten, die Ertragsflüsse generieren. Er kann auch über Derivate oder andere Fonds investieren. Die Beteiligungen in den unterschiedlichen Anteilsklassen werden regelmäßig angepasst, je nachdem in welchen Bereichen der Fondsmanager den größten Wert sieht bzw. um das Risiko zu managen. Es kann keine Gewähr gegeben werden, dass der Fonds in einem beliebigen Zeitraum eine positive Rendite erzielt. Die Anleger erhalten den ursprünglich investierten Betrag unter Umständen nicht zurück. | # Fund description
The fund has two aims: to provide a growing level of income over any three-year period through investment in a range of assets from around the world; and to provide capital growth of 2-4% on average per year over any three-year period. The core of the fund comprises company shares and fixed income securities, with a focus on income-generating assets. It may also invest via derivatives or through other funds. The holdings in different asset classes will be adjusted regularly according to where the fund manager sees the most value and to manage risks. There is no guarantee that the fund will achieve a positive return over any period. Investors may not get back the original amount they invested. | en | de |
DOLFIN740 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
Federated Hermes SDG Engagement Equity Fund
Factsheet 30 June 2023
Objective: The Fund aims to increase the value of your investment over the long-term alongside achieving positive societal impact aligned to the United Nations Sustainable Development Goals (SDGs). The Fund will predominantly invest in shares of small and medium sized companies across global equity markets.
Investment Approach: The investment manager seeks to achieve its objective by investing in quality small- and medium-sized companies and engaging them on objectives aligned with the SDGs. Portfolio companies must be high-quality businesses with strong growth prospects and led by management teams with the ability and willingness to embed the SDGs in their corporate strategies. The Lead Engager, supported by our stewardship team in EOS at Federated Hermes, delivers the engagement strategy. | Federated Hermes SDG Engagement Equity Fund
Scheda descrittiva 30 giugno 2023
Obiettivo: Il Fondo mira ad accrescere il valore a lungo termine del vostro investimento oltre a conseguire un impatto sociale positivo in linea con gli Obiettivi di sviluppo sostenibile delle Nazioni Unite (SDGs). Il Fondo investirà prevalentemente in azioni di società a piccola e media capitalizzazione sui mercati azionari globali.
Approccio d’investimento: Il gestore degli investimenti cerca di raggiungere il suo obiettivo investendo in società medio-piccole di qualità, che coinvolge in iniziative di engagement per raggiungere obiettivi allineati agli SDG. Le società del portafoglio devono essere aziende di alta qualità con ottime prospettive di crescita e team manageriali capaci e desiderosi di integrare gli SDG nelle loro strategie aziendali. Responsabile della strategia di engagement è il Lead Engager, supportato dal nostro team di stewardship in EOS di Federated Hermes. | Federated Hermes SDG Engagement Equity Fund
Factsheet 30 June 2023
Objective: The Fund aims to increase the value of your investment over the long-term alongside achieving positive societal impact aligned to the United Nations Sustainable Development Goals (SDGs). The Fund will predominantly invest in shares of small and medium sized companies across global equity markets.
Investment Approach: The investment manager seeks to achieve its objective by investing in quality small- and medium-sized companies and engaging them on objectives aligned with the SDGs. Portfolio companies must be high-quality businesses with strong growth prospects and led by management teams with the ability and willingness to embed the SDGs in their corporate strategies. The Lead Engager, supported by our stewardship team in EOS at Federated Hermes, delivers the engagement strategy. | en | it |
DOLFIN741 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
The governing body of the Management Company may decide to split units into fractions of units.
The provisions of the regulations governing the issue and redemption of units shall apply to fractions of units, and their value shall always be proportional to that of the unit they represent. Unless stated otherwise, all other provisions of the regulations relating to units apply to fractions of units without the need to specifically state that this is the case, except when it is otherwise disposed.
Finally, the governing body of the Management Company may also decide, at its own discretion, to split the units by issuing new units, which are allocated to unitholders in exchange for their existing units. | Les parts pourront être fractionnées, sur décision de l’organe de gestion de la société en fractions de parts.
Les dispositions du règlement réglant l’émission et le rachat de parts sont applicables aux fractions de parts dont la valeur sera toujours proportionnelle à celle de la part qu’elles représentent. Toutes les autres dispositions du règlement relatives aux parts s’appliquent aux fractions de parts sans qu’il soit nécessaire de le spécifier, sauf lorsqu’il en est disposé autrement.
Enfin, l’organe de gestion de la société peut, sur ses seules décisions, procéder à la division des parts par la création de parts nouvelles qui sont attribuées aux porteurs en échange des parts anciennes. | The governing body of the Management Company may decide to split units into fractions of units.
The provisions of the regulations governing the issue and redemption of units shall apply to fractions of units, and their value shall always be proportional to that of the unit they represent. Unless stated otherwise, all other provisions of the regulations relating to units apply to fractions of units without the need to specifically state that this is the case, except when it is otherwise disposed.
Finally, the governing body of the Management Company may also decide, at its own discretion, to split the units by issuing new units, which are allocated to unitholders in exchange for their existing units. | en | fr |
DOLFIN742 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
L’objectif du compartiment Amundi Funds Equity Green Impact est d’obtenir une croissance du capital à long terme. En particulier, le compartiment investit à titre de fonds nourricier dans Amundi Valeurs Durables (Fonds maître).
Le Fonds maître investit principalement dans des actions européennes. En particulier, le compartiment investit au moins 85% de ses actifs nets dans des parts du Fonds maître (classe OR). Le compartiment peut investir jusqu’à 15% dans des dépôts et produits dérivés utilisés uniquement à des fins de couverture. Amundi Valeurs Durables est un FCP de droit français éligible en qualité de Fonds maître au titre de la Directive 2009/65/CE.
Le Fonds maître investit au moins 75% de ses actifs nets dans des actions de sociétés dont le siège social est situé en Europe ou qui réalisent une grande partie de leurs activités en Europe, dont une part importante du chiffre d’affaires découle d’activités environnementales, et qui enregistrent de bonnes performances en termes de critères ESG extra-financiers (critères environnementaux, sociaux et de gouvernance).
Le Fonds maître prévoit que son exposition aux actions sera comprise entre 75% et 120%. Il n’existe pas de contraintes en termes de capitalisation boursière pour ces investissements.
Conformément aux politiques précitées, le Fonds maître pourra aussi investir dans des obligations notées « Investment grade », des obligations convertibles, des instruments du marché monétaire, des dépôts, et jusqu’à 10% de ses actifs nets dans des OPC/OPCVM.
Les produits dérivés sont utilisés dans le cadre des stratégies d’investissement du Fonds maître. Le Fonds maître pourra utiliser des produits dérivés à des fins de couverture et de gestion efficace du portefeuille, ainsi que pour augmenter son exposition nette. Outre les principaux produits dérivés, le Fonds maître pourra utiliser des dérivés de crédit (à émetteur unique et sur indices). Le Fonds maître pourra réaliser des achats et ventes temporaires de titres (contrats de mise en pension et de prise en pension de titres). Le Fonds maître n’est pas géré par rapport à un indice, bien que sa performance soit comparée à l’indice MSCI Europe.
L’équipe d’investissement du Fonds maître analyse environ 100 actions européennes, parmi lesquelles elle sélectionne des sociétés qui sont actives dans les technologies vertes (efficacité énergétique, énergies renouvelables, gestion des eaux et des déchets) et exclut les sociétés qui produisent de l’énergie à partir de combustibles fossiles ou d’énergie nucléaire. L’équipe d’investissement emploie un processus d’optimisation pour obtenir la diversification, le nombre de titres, le profil de risque et la liquidité qu’elle recherche.
Le gestionnaire des investissements des deux compartiments est Amundi Asset Management.
Les frais directement imputés à Amundi Funds Equity Green Impact s’élèvent à EUR 935, ce qui est résumé dans le tableau ci-dessous et exprimé en pourcentage de la VNI moyenne des classes d’actions d’Amundi Funds Equity Green Impact : | El objetivo del subfondo Amundi Funds Equity Green Impact es lograr el crecimiento a largo plazo del capital. El subfondo invierte específicamente como fondo subordinado en Amundi Valeurs Durables (Fondo principal).
El Fondo principal invierte sobre todo en renta variable europea. En concreto, el subfondo invierte como mínimo el 85% de su patrimonio neto en participaciones del Fondo principal (Clase OR). El subfondo podrá invertir hasta el 15% en depósitos y derivados que se empleen exclusivamente a efectos de cobertura. Amundi Valeurs Durables es un FI constituido en virtud de la legislación francesa y considerado como un Fondo principal en virtud de la Directiva 2009/65/CE.
El Fondo principal invierte un mínimo del 75% del patrimonio neto en acciones de empresas que tienen sede en Europa, o que realizan una actividad considerable en dicho continente, que obtienen un elevado porcentaje de ingresos de actividades medioambientales y que obtienen buena puntuación en lo relativo a criterios extrafinancieros de índole medioambiental, social y de buen gobierno (criterios ESG, por sus siglas en inglés).
El Fondo principal prevé tener una exposición a la renta variable de entre el 75% y el 120%. No existen limitaciones en cuanto a capitalización bursátil para estas inversiones.
Al tiempo que cumple con las políticas antes mencionadas, el Fondo principal también podrá invertir en bonos aptos para la inversión y bonos convertibles, instrumentos del mercado monetario, depósitos y hasta un 10% de su patrimonio neto en OICVM/OIC.
Los derivados forman parte integrante de las estrategias de inversión del Fondo principal. El Fondo principal podrá emplear derivados a efectos de cobertura y gestión eficiente de la cartera, y para incrementar su exposición neta. Además de derivados principales, el Fondo principal podrá emplear derivados de crédito (sobre un emisor único y sobre índices). El Fondo principal podrá formalizar compraventas temporales de títulos (pactos de recompra y recompra inversa). Este no está gestionado teniendo en cuenta ningún índice, si bien su rentabilidad se compara con la del índice MSCI Europe.
El equipo de inversión del Fondo principal analiza alrededor de 100 títulos de renta variable europea, entre los que selecciona a empresas activas en tecnologías limpias (eficiencia energética, energías renovables, gestión del agua y los residuos) y excluye a empresas que producen energía a partir de combustibles fósiles o energía nuclear. El equipo de inversión aplica un proceso de optimización para lograr la diversificación, el número de títulos, el perfil de riesgo y la liquidez deseados.
El Gestor de inversiones de ambos subfondos es Amundi Asset Management.
En la siguiente tabla se resumen, en términos de VL porcentual medio de sus clases de acciones, las comisiones cobradas directamente a Amundi Funds Equity Green Impact, que ascienden a 935 EUR: | L’objectif du compartiment Amundi Funds Equity Green Impact est d’obtenir une croissance du capital à long terme. En particulier, le compartiment investit à titre de fonds nourricier dans Amundi Valeurs Durables (Fonds maître).
Le Fonds maître investit principalement dans des actions européennes. En particulier, le compartiment investit au moins 85% de ses actifs nets dans des parts du Fonds maître (classe OR). Le compartiment peut investir jusqu’à 15% dans des dépôts et produits dérivés utilisés uniquement à des fins de couverture. Amundi Valeurs Durables est un FCP de droit français éligible en qualité de Fonds maître au titre de la Directive 2009/65/CE.
Le Fonds maître investit au moins 75% de ses actifs nets dans des actions de sociétés dont le siège social est situé en Europe ou qui réalisent une grande partie de leurs activités en Europe, dont une part importante du chiffre d’affaires découle d’activités environnementales, et qui enregistrent de bonnes performances en termes de critères ESG extra-financiers (critères environnementaux, sociaux et de gouvernance).
Le Fonds maître prévoit que son exposition aux actions sera comprise entre 75% et 120%. Il n’existe pas de contraintes en termes de capitalisation boursière pour ces investissements.
Conformément aux politiques précitées, le Fonds maître pourra aussi investir dans des obligations notées « Investment grade », des obligations convertibles, des instruments du marché monétaire, des dépôts, et jusqu’à 10% de ses actifs nets dans des OPC/OPCVM.
Les produits dérivés sont utilisés dans le cadre des stratégies d’investissement du Fonds maître. Le Fonds maître pourra utiliser des produits dérivés à des fins de couverture et de gestion efficace du portefeuille, ainsi que pour augmenter son exposition nette. Outre les principaux produits dérivés, le Fonds maître pourra utiliser des dérivés de crédit (à émetteur unique et sur indices). Le Fonds maître pourra réaliser des achats et ventes temporaires de titres (contrats de mise en pension et de prise en pension de titres). Le Fonds maître n’est pas géré par rapport à un indice, bien que sa performance soit comparée à l’indice MSCI Europe.
L’équipe d’investissement du Fonds maître analyse environ 100 actions européennes, parmi lesquelles elle sélectionne des sociétés qui sont actives dans les technologies vertes (efficacité énergétique, énergies renouvelables, gestion des eaux et des déchets) et exclut les sociétés qui produisent de l’énergie à partir de combustibles fossiles ou d’énergie nucléaire. L’équipe d’investissement emploie un processus d’optimisation pour obtenir la diversification, le nombre de titres, le profil de risque et la liquidité qu’elle recherche.
Le gestionnaire des investissements des deux compartiments est Amundi Asset Management.
Les frais directement imputés à Amundi Funds Equity Green Impact s’élèvent à EUR 935, ce qui est résumé dans le tableau ci-dessous et exprimé en pourcentage de la VNI moyenne des classes d’actions d’Amundi Funds Equity Green Impact : | fr | es |
DOLFIN743 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
In order that the Manager continues to provide an equivalent level of service to Unitholders in different time zones, an indicative Net Asset Value will be calculated prior to the definitive Net Asset Value being calculated by the Administrator.
The Manager or the Administrator will monitor and update all activity on the assets of the Trust up until the close of business (Irish time) on each Business Day. The Administrator will prepare and update all the elements required to calculate the Net Asset Value of each Fund excluding the actual market value of assets (the “Test Price”). State Street Bank and Trust Company will at Pricing Time then calculate an indicative Net Asset Value using the Test Price and the pricing methodology described above. This indicative Net Asset Value will be available for potential investors.
The Administrator will at 12:00 noon (GMT) on the following Business Day consider this indicative Net Asset Value and if it is confirmed by the Administrator it will be used as the definitive Net Asset Value for dealing purposes. The Manager or the Administrator may override the indicative Net Asset Value for any reason at their discretion.
All applications, switches, redemptions for Units will be dealt with at the definitive Net Asset Value confirmed by the Manager or the Administrator. | Damit die Verwaltungsgesellschaft den Anteilsinhabern in den verschiedenen Zeitzonen ein gleiches Maß an Service bieten kann, wird ein vorläufiger Nettoinventarwert vor dem endgültigen Nettoinventarwert durch die Verwaltungsstelle berechnet.
Die Verwaltungsgesellschaft oder die Verwaltungsstelle wird an jedem Geschäftstag bis zum Geschäftsschluss (irischer Zeit) alle Aktivitäten bezüglich der Vermögenswerte des Fonds überwachen und aktualisieren. Die Verwaltungsstelle wird alle Informationen, die für die Berechnung des Nettoinventarwerts notwendig sind, erstellen und aktualisieren, mit Ausnahme des aktuellen Marktwerts der Vermögenswerte (nachstehend der „Testpreis“). State Street Bank and Trust Company wird dann zur Preisfestlegungszeit den vorläufigen Nettoinventarwert unter Zugrundelegung des Testpreises und des oben beschriebenen Preisfestlegungsverfahrens errechnen. Dieser vorläufige Nettoinventarwert ist für potenzielle Anleger verfügbar.
Die Verwaltungsstelle überprüft diesen vorläufigen Nettoinventarwert um 12.00 Uhr (Greenwich-Zeit) am nachfolgenden Geschäftstag, und wenn er von der Verwaltungsstelle bestätigt wird, wird er als endgültiger Nettoinventarwert im Handel verwendet. Die Verwaltungsgesellschaft oder die Verwaltungsstelle kann den vorläufigen Nettoinventarwert aus jedem Grund nach ihrem Ermessen abändern.
Alle Zeichnungen, Umtauschgeschäfte und Rückgaben von Anteilen werden auf Grundlage des endgültigen Nettoinventarwertes, der von der Verwaltungsgesellschaft oder der Verwaltungsstelle bestätigt wurde, bearbeitet. | In order that the Manager continues to provide an equivalent level of service to Unitholders in different time zones, an indicative Net Asset Value will be calculated prior to the definitive Net Asset Value being calculated by the Administrator.
The Manager or the Administrator will monitor and update all activity on the assets of the Trust up until the close of business (Irish time) on each Business Day. The Administrator will prepare and update all the elements required to calculate the Net Asset Value of each Fund excluding the actual market value of assets (the “Test Price”). State Street Bank and Trust Company will at Pricing Time then calculate an indicative Net Asset Value using the Test Price and the pricing methodology described above. This indicative Net Asset Value will be available for potential investors.
The Administrator will at 12:00 noon (GMT) on the following Business Day consider this indicative Net Asset Value and if it is confirmed by the Administrator it will be used as the definitive Net Asset Value for dealing purposes. The Manager or the Administrator may override the indicative Net Asset Value for any reason at their discretion.
All applications, switches, redemptions for Units will be dealt with at the definitive Net Asset Value confirmed by the Manager or the Administrator. | en | de |
DOLFIN744 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
- it will make a minimum of sustainable investments with a social objective: N/A☒ It promotes environmental and social (E/S) characteristics and while it does not have as its objective sustainable investment, it will have a minimum proportion of 30.0% of sustainable investments
- with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy☒ with an environmental objective in economic activities that do not qualify as environmentally sustainable under theEU Taxonomy
- with a social objective
- It promotes E/S characteristics, but will not make sustainable investments | - il réalisera un minimum d’investissements durables ayant un objectif social : N/A☒ Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une proportion minimale de 30.0% d’investissements durables
- ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE☒ ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
- ayant un objectif social
- Il promeut des caractéristiques E/S, mais neréalisera pas d’investissements durables | - it will make a minimum of sustainable investments with a social objective: N/A☒ It promotes environmental and social (E/S) characteristics and while it does not have as its objective sustainable investment, it will have a minimum proportion of 30.0% of sustainable investments
- with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy☒ with an environmental objective in economic activities that do not qualify as environmentally sustainable under theEU Taxonomy
- with a social objective
- It promotes E/S characteristics, but will not make sustainable investments | en | fr |
DOLFIN745 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
Les Actionnaires de chaque Catégorie d’Actions de Distribution peuvent choisir d’investir les dividendes en Actions supplémentaires lorsqu’ils remplissent le formulaire d’ouverture de compte. Les distributions versées seront dans la monnaie dans laquelle l’Actionnaire a souscrit les Actions, sauf indication contraire de celui-ci. Les paiements seront effectués par virement sur un compte de l’Actionnaire.
La dénomination de chaque Catégorie d’Actions donne une indication de ses diverses caractéristiques. Par exemple :
« Catégorie A en USD de Distribution (D) » indique qu’il s’agit d’une Catégorie d’Actions comportant la lettre d’identification A, qu’elle est libellée en USD, qu’elle peut effectuer des distributions aux Actionnaires et qu’elle déclare ces distributions quotidiennement.
« Catégorie C en EUR de Distribution (M) Plus (e) » indique qu’il s’agit d’une Catégorie d’Actions comportant la lettre d’identification C, qu’elle est libellée en EUR, qu’elle peut effectuer des distributions aux Actionnaires, qu’elle déclare ces distributions mensuellement et qu’elle peut imputer des commissions et des frais au capital. | Los Accionistas de cada Clase de Acciones de Distribución podrán elegir en el impreso de solicitud si desean reinvertir o no los dividendos en Acciones adicionales. Las distribuciones se pagarán en la moneda en la que el Accionista suscribió las Acciones, salvo indicación en sentido contrario por parte de este. Los pagos se realizarán mediante transferencia bancaria a una cuenta del Accionista.
El nombre de cada Clase de Acciones indicará sus diversas características. Por ejemplo:
“Clase A USD de Distribución (D)” indica que la Clase de Acciones es del tipo de letra A, que está denominada en USD, que puede hacer distribuciones a los Accionistas y que declara dichas distribuciones a diario.
“Clase C Euro de Distribución (M) Plus (e)” indica que la Clase de Acciones es del tipo de letra C, que está denominada en euros, que puede hacer distribuciones a los Accionistas y que declara dichas distribuciones mensualmente, que puede aplicar comisiones y gastos sobre el capital. | Les Actionnaires de chaque Catégorie d’Actions de Distribution peuvent choisir d’investir les dividendes en Actions supplémentaires lorsqu’ils remplissent le formulaire d’ouverture de compte. Les distributions versées seront dans la monnaie dans laquelle l’Actionnaire a souscrit les Actions, sauf indication contraire de celui-ci. Les paiements seront effectués par virement sur un compte de l’Actionnaire.
La dénomination de chaque Catégorie d’Actions donne une indication de ses diverses caractéristiques. Par exemple :
« Catégorie A en USD de Distribution (D) » indique qu’il s’agit d’une Catégorie d’Actions comportant la lettre d’identification A, qu’elle est libellée en USD, qu’elle peut effectuer des distributions aux Actionnaires et qu’elle déclare ces distributions quotidiennement.
« Catégorie C en EUR de Distribution (M) Plus (e) » indique qu’il s’agit d’une Catégorie d’Actions comportant la lettre d’identification C, qu’elle est libellée en EUR, qu’elle peut effectuer des distributions aux Actionnaires, qu’elle déclare ces distributions mensuellement et qu’elle peut imputer des commissions et des frais au capital. | fr | es |
DOLFIN746 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
Operational risk A fund may be subject to errors affecting valuation, pricing, accounting, tax reporting, financial reporting, and trading, among other things. In addition, in any market, but especially in emerging markets, there could be losses due to fraud, corruption, political or military actions, the seizure of assets, or other irregular events.
Prepayment and extension risk With asset-backed securities (ABS) and mortgage-backed securities (MBS), or any other securities whose market prices typically reflect the assumption that the securities will be paid off before maturity, any unexpected behaviour in interest rates could hurt fund performance.
Receiving increasing prepayments when interest rates are falling causes the average maturity of the portfolio to shorten, reducing its potential for price gains. It also requires a fund to reinvest proceeds at lower interest rates, reducing the portfolio’s total return and yield, and could result in a loss.
Mortgage-backed securities are also subject to extension risk. When interest rates are rising, a lack of refinancing opportunities will cause a fund’s average maturity to lengthen due to a drop in expected prepayments of mortgage-backed securities and asset-backed securities. This would increase a fund’s sensitivity to rising rates and its potential for price declines.
Real estate investments risk Real estate and related investments can be hurt by any factor that makes an area or individual property less valuable.
Specifically, investments in real estate holdings or related businesses or securities (including interests in mortgages) can be hurt by natural disasters, economic declines, overbuilding, zoning changes, tax increases, population or lifestyle trends, environmental contamination, defaults on mortgages, failures of management, and other factors that may affect the market value or cash flow of the investment.
Sector concentration risk To the extent that a fund invests a large portion of its assets in a particular economic sector (or, for bond funds, a particular market segment), its performance will be more strongly affected by any business, industry, economic, financial or market conditions affecting that sector or segment of the fixed income market. This can mean higher volatility and risk of loss as compared to a fund that invests more broadly.
Small and mid-cap risk Shares of small and mid-size companies can be more volatile than shares of larger companies. Small and mid-size companies often have fewer financial resources, shorter operating histories, and less diverse business lines, and as a result can be at greater risk of long-term or permanent business setbacks. Initial public offerings (IPOs) can be highly volatile and can be hard to evaluate because of a lack of trading history and relative lack of public information.
Stock Connect The funds may invest in certain Shanghai-listed and Shenzhen-listed securities (“Stock Connect Securities”) through the Shanghai-Hong Kong Stock Connect or the Shenzhen-Hong Kong Stock Connect respectively (“Stock Connect”), a joint securities trading and clearing program designed to permit mutual stock market access between mainland China and Hong Kong. Stock Connect is a joint project of the Hong Kong Exchanges and Clearing Limited (“HKEC”), China Securities Depository and Clearing Corporation Limited (“ChinaClear”), the Shanghai Stock Exchange and the Shenzhen Stock Exchange. Hong Kong Securities Clearing Company Limited (“HKSCC”), a clearing house that in turn is operated by HKEC, acts as nominee for investors accessing Stock Connect Securities.
Risks of investing through Stock Connect include:
- The regulations governing the Stock Connect are untested, subject to change and may have potential retrospective effect. It is uncertain how they will be applied, and they could be changed.
- The Stock Connect Securities in respect of the funds are held by the depositary/ sub-custodian in accounts in the Hong Kong Central Clearing and Settlement System (“CCASS”) maintained by the HKSCC as central securities depositary in Hong Kong. HKSCC in turn holds the Stock Connect Securities, as the nominee holder, through an omnibus securities account in its name registered with ChinaClear for the Stock Connect. The precise nature and rights of the funds as the beneficial owners of the Stock Connect Securities through HKSCC as nominee is not well defined under Chinese law. Therefore, the exact nature and methods of enforcement of the rights and interests of the funds under Chinese law is uncertain.
- Should ChinaClear default, HKSCC’s contractual liabilities will be limited to assisting participants with claims against ChinaClear. A fund’s attempts to recover lost assets could involve considerable delays and expenses and may not be successful.
- The Stock Connect is subject to quota limitations. In particular, the Stock Connect is subject to a daily quota which does not belong to the SICAV or the funds and can only be utilised on a first-come-first- serve basis. Once the daily quota is exceeded, buy orders will be rejected (although investors will be permitted to sell their cross- boundary securities regardless of the quota balance). Therefore, quota limitations may restrict the relevant fund’s ability to invest in the Stock Connect Securities on a timely basis, and the relevant fund may not be able to effectively pursue its investment strategy.
- When a share is recalled from the scope of eligible shares for trading via the Stock Connect, the shares can only be sold but restricted from being bought. This may affect the investment portfolio or strategies of the funds.
- Each of the HKEC, the Shanghai Stock Exchange and the Shenzhen Stock Exchange reserves the right to suspend trading. Where a suspension is effected, the relevant fund’s ability to access the Chinese market will be adversely affected.
- Investment in Stock Connect Securities is conducted through brokers, and is subject to the risks of default by such brokers’ in their obligations. | Rischio operativo Un comparto può essere soggetto a errori che si ripercuotono, per esempio, sulla valutazione, sui prezzi, sulla contabilità, sull'informativa fiscale, sulla rendicontazione e sulla negoziazione.
Inoltre, in qualsiasi mercato, ma specialmente nei mercati emergenti, potrebbero verificarsi perdite dovute a frode, corruzione, azioni politiche o militari, confisca di beni o altri eventi irregolari.
Rischio di pagamento anticipato e proroga Nel caso di asset-backed securities (ABS) e mortgage-backed securities (MBS), o di qualsiasi altro titolo i cui prezzi di mercato di norma riflettono la convinzione che i titoli verranno pagati interamente prima della scadenza, un'oscillazione inattesa dei tassi di interesse potrebbe nuocere alla performance del comparto.
L'aumento dei pagamenti anticipati ricevuti quando i tassi di interesse scendono abbrevia la scadenza media del portafoglio, limitando il suo potenziale di aumento dei prezzi. Inoltre, richiede che il comparto reinvesta i proventi con tassi di interesse più bassi, riducendo il rendimento totale e gli utili del portafoglio, con la possibilità di subire perdite.
I mortgage-backed securities sono anche soggetti al rischio di proroga. In caso di aumento dei tassi di interesse, l'assenza di opportunità di rifinanziamento provoca un aumento della scadenza media del comparto a causa di una diminuzione dei pagamenti anticipati previsti per i mortgage-backed securities e gli asset-backed securities. Ciò incrementa la sensibilità del comparto all'aumento dei tassi, facendo diminuire il suo potenziale di calo dei prezzi.
Rischio associato agli investimenti immobiliari Gli immobili e gli investimenti associati possono essere penalizzati da qualsiasi fattore che renda un'area o una singola proprietà meno apprezzata.
Nello specifico, gli investimenti in immobili o in attività commerciali o titoli correlati (inclusi gli interessi in ipoteche) possono essere penalizzati da catastrofi naturali, deterioramento delle condizioni economiche, eccesso di costruzioni, cambiamenti urbanistici, aumenti delle imposte, tendenze della popolazione o dello stile di vita, contaminazione ambientale, default su ipoteche, insuccessi di gestione e altri fattori che possono ripercuotersi sul valore di mercato o sul flusso di cassa dell'investimento.
Rischio di concentrazione settoriale Se un comparto investe una quota significativa delle sue attività in un particolare settore economico (o, nel caso dei comparti obbligazionari, in un particolare segmento di mercato), la sua performance sarà maggiormente influenzata dalle condizioni commerciali, settoriali, economiche, finanziarie o di mercato che incidono su tale settore o segmento del mercato del reddito fisso.
Ciò può comportare una volatilità e un rischio di perdita più elevati rispetto a un comparto che effettua investimenti maggiormente diversificati.
Rischio associato alle società a capitalizzazione medio-bassa Le azioni di società a capitalizzazione medio-bassa possono essere più volatili rispetto a quelle delle società di dimensioni maggiori. Spesso le società a capitalizzazione medio-bassa hanno risorse finanziarie più limitate, una minore esperienza operativa e linee di business meno diversificate, di conseguenza sono esposte a un maggior rischio di difficoltà commerciali a lungo termine o permanenti. Le offerte pubbliche iniziali (IPO) possono essere estremamente volatili e difficili da valutare a causa degli scarsi dati storici sulle contrattazioni e della relativa carenza di informazioni pubbliche.
Stock Connect I comparti possono investire in determinati titoli quotati sulla Borsa di Shanghai o sulla Borsa di Shenzhen ("Titoli Stock Connect") tramite, rispettivamente, lo Shanghai-Hong Kong Stock Connect o lo Shenzhen-Hong Kong Stock Connect ("Stock Connect"), un programma interconnesso di trading e clearing di titoli concepito allo scopo di consentire agli operatori della Cina continentale e a quelli di Hong Kong l'accesso ai reciproci mercati azionari. Stock Connect è un progetto congiunto fra Hong Kong Exchanges and Clearing Limited ("HKEC"), China Securities Depository and Clearing Corporation Limited ("ChinaClear"), la Borsa di Shanghai e la Borsa di Shenzhen. Hong Kong Securities Clearing Company Limited ("HKSCC"), una stanza di compensazione che a sua volta è gestita da HKEC, funge da intestatario per gli investitori che accedono ai titoli Stock Connect.
I rischi connessi all'investimento tramite Stock Connect includono:
- I regolamenti che disciplinano il programma Stock Connect non sono comprovati e sono passibili di modifiche con potenziali effetti retroattivi. Non vi sono certezze in merito alle loro modalità di applicazione e potrebbero subire modifiche.
- I titoli Stock Connect dei comparti sono detenuti dal depositario / sub-depositario in conti nello Hong Kong Central Clearing and Settlement System ("CCASS") gestito dall'HKSCC in qualità di depositario centrale dei titoli a Hong Kong. A sua volta, HKSCC detiene i titoli Stock Connect, in veste di intestatario, attraverso un conto titoli omnibus a proprio nome registrato presso ChinaClear per lo Stock Connect. La natura precisa e i diritti dei comparti in quanto beneficiari effettivi dei titoli Stock Connect detenuti attraverso HKSCC in veste di intestatario non sono chiaramente disciplinati dalla legge cinese. Pertanto, la natura esatta e i metodi di rivendicazione dei diritti e degli interessi dei comparti sono incerti ai sensi della legge cinese.
- Qualora ChinaClear si rendesse insolvente, la responsabilità contrattuale di HKSCC sarebbe limitata all'assistenza da fornire ai partecipanti per far valere i loro crediti nei confronti di ChinaClear. I tentativi di un comparto di recuperare le attività perdute potrebbero implicare ritardi e spese considerevoli e potrebbero non avere successo.
- Stock Connect è soggetto a limitazioni di quota. In particolare, lo Stock Connect prevede una quota giornaliera non attribuita alla SICAV o ai comparti e che può essere utilizzata solo sulla base del criterio "primo arrivato, primo servito". Una volta superata la quota giornaliera, gli ordini di acquisto vengono respinti (anche se gli investitori possono vendere i loro titoli transfrontalieri a prescinderedal saldo residuo della quota). Pertanto, le limitazioni dovute alla quota massima potrebbero impedire al comparto di investire tempestivamente nei titoli Stock Connect e quindi di perseguire efficacemente la propria strategia di investimento.
- Se un titolo viene ritirato dall'universo di titoli idonei per la negoziazione tramite lo Stock Connect, il titolo può essere solo venduto ma può essere acquistato. Ciò potrebbe avere ripercussioni sul portafoglio o sulle strategie dei comparti.
- La HKEC, la Borsa di Shanghai e la Borsa di Shenzhen si riservano ciascuna il diritto di sospendere le contrattazioni. L'eventuale sospensione pregiudicherebbe la capacità del comparto interessato di accedere al mercato cinese.
- Gli investimenti in titoli Stock Connect vengono effettuati tramite broker e sono soggetti al rischio che tali broker si rivelino inadempienti nello svolgimento dei loro obblighi. | Operational risk A fund may be subject to errors affecting valuation, pricing, accounting, tax reporting, financial reporting, and trading, among other things. In addition, in any market, but especially in emerging markets, there could be losses due to fraud, corruption, political or military actions, the seizure of assets, or other irregular events.
Prepayment and extension risk With asset-backed securities (ABS) and mortgage-backed securities (MBS), or any other securities whose market prices typically reflect the assumption that the securities will be paid off before maturity, any unexpected behaviour in interest rates could hurt fund performance.
Receiving increasing prepayments when interest rates are falling causes the average maturity of the portfolio to shorten, reducing its potential for price gains. It also requires a fund to reinvest proceeds at lower interest rates, reducing the portfolio’s total return and yield, and could result in a loss.
Mortgage-backed securities are also subject to extension risk. When interest rates are rising, a lack of refinancing opportunities will cause a fund’s average maturity to lengthen due to a drop in expected prepayments of mortgage-backed securities and asset-backed securities. This would increase a fund’s sensitivity to rising rates and its potential for price declines.
Real estate investments risk Real estate and related investments can be hurt by any factor that makes an area or individual property less valuable.
Specifically, investments in real estate holdings or related businesses or securities (including interests in mortgages) can be hurt by natural disasters, economic declines, overbuilding, zoning changes, tax increases, population or lifestyle trends, environmental contamination, defaults on mortgages, failures of management, and other factors that may affect the market value or cash flow of the investment.
Sector concentration risk To the extent that a fund invests a large portion of its assets in a particular economic sector (or, for bond funds, a particular market segment), its performance will be more strongly affected by any business, industry, economic, financial or market conditions affecting that sector or segment of the fixed income market. This can mean higher volatility and risk of loss as compared to a fund that invests more broadly.
Small and mid-cap risk Shares of small and mid-size companies can be more volatile than shares of larger companies. Small and mid-size companies often have fewer financial resources, shorter operating histories, and less diverse business lines, and as a result can be at greater risk of long-term or permanent business setbacks. Initial public offerings (IPOs) can be highly volatile and can be hard to evaluate because of a lack of trading history and relative lack of public information.
Stock Connect The funds may invest in certain Shanghai-listed and Shenzhen-listed securities (“Stock Connect Securities”) through the Shanghai-Hong Kong Stock Connect or the Shenzhen-Hong Kong Stock Connect respectively (“Stock Connect”), a joint securities trading and clearing program designed to permit mutual stock market access between mainland China and Hong Kong. Stock Connect is a joint project of the Hong Kong Exchanges and Clearing Limited (“HKEC”), China Securities Depository and Clearing Corporation Limited (“ChinaClear”), the Shanghai Stock Exchange and the Shenzhen Stock Exchange. Hong Kong Securities Clearing Company Limited (“HKSCC”), a clearing house that in turn is operated by HKEC, acts as nominee for investors accessing Stock Connect Securities.
Risks of investing through Stock Connect include:
- The regulations governing the Stock Connect are untested, subject to change and may have potential retrospective effect. It is uncertain how they will be applied, and they could be changed.
- The Stock Connect Securities in respect of the funds are held by the depositary/ sub-custodian in accounts in the Hong Kong Central Clearing and Settlement System (“CCASS”) maintained by the HKSCC as central securities depositary in Hong Kong. HKSCC in turn holds the Stock Connect Securities, as the nominee holder, through an omnibus securities account in its name registered with ChinaClear for the Stock Connect. The precise nature and rights of the funds as the beneficial owners of the Stock Connect Securities through HKSCC as nominee is not well defined under Chinese law. Therefore, the exact nature and methods of enforcement of the rights and interests of the funds under Chinese law is uncertain.
- Should ChinaClear default, HKSCC’s contractual liabilities will be limited to assisting participants with claims against ChinaClear. A fund’s attempts to recover lost assets could involve considerable delays and expenses and may not be successful.
- The Stock Connect is subject to quota limitations. In particular, the Stock Connect is subject to a daily quota which does not belong to the SICAV or the funds and can only be utilised on a first-come-first- serve basis. Once the daily quota is exceeded, buy orders will be rejected (although investors will be permitted to sell their cross- boundary securities regardless of the quota balance). Therefore, quota limitations may restrict the relevant fund’s ability to invest in the Stock Connect Securities on a timely basis, and the relevant fund may not be able to effectively pursue its investment strategy.
- When a share is recalled from the scope of eligible shares for trading via the Stock Connect, the shares can only be sold but restricted from being bought. This may affect the investment portfolio or strategies of the funds.
- Each of the HKEC, the Shanghai Stock Exchange and the Shenzhen Stock Exchange reserves the right to suspend trading. Where a suspension is effected, the relevant fund’s ability to access the Chinese market will be adversely affected.
- Investment in Stock Connect Securities is conducted through brokers, and is subject to the risks of default by such brokers’ in their obligations. | en | it |
DOLFIN747 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Objective and investment strategy
The Sub-Fund investment objective is firstly to seek high income and secondary capital growth by investing in a broadly international high yield corporate debt securities over a long term period.
The Share Class aims at hedging the foreign exchange risk resulting from the divergence between the reference currency of the Sub-Fund and the currency of this Share Class by using derivatives instruments whilst retaining the exposure to Investment Policy of the Sub-Fund. | # Anlageziel und Investmentstrategie
Das Anlageziel des Teilfonds ist es, durch die langfristige Anlage in internationale Unternehmensanleihen mit hoher Rendite in erster Linie ein hohes Einkommen und in zweiter Linie eine Kapitalzuwachs zu erzielen. Die Anteilsklasse soll das Devisenkursrisiko, das sich aus dem Unterschied zwischen der Referenzwährung des Teilfonds und der Währung dieser Anteilsklasse ergibt, durch den Einsatz von Derivaten absichern und am Engagement gemäß der Anlagepolitik des Teilfonds festhalten. | # Objective and investment strategy
The Sub-Fund investment objective is firstly to seek high income and secondary capital growth by investing in a broadly international high yield corporate debt securities over a long term period.
The Share Class aims at hedging the foreign exchange risk resulting from the divergence between the reference currency of the Sub-Fund and the currency of this Share Class by using derivatives instruments whilst retaining the exposure to Investment Policy of the Sub-Fund. | en | de |
DOLFIN748 | 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 Exemple d'investissement: 10,000 GBP Si vous sortez Si vous sortez après 1 an après 5 ans Scénarios |
| --- |
| Minimum | Il n'existe aucun rendement minimal garanti. Vous pourriez perdre tout ou une partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | 3,620 GBP | 3,750 GBP |
| Rendement annuel moyen | -63.80% | -17.81% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | 7,480 GBP | 7,190 GBP |
| Rendement annuel moyen | -25.20% | -6.38% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10,060 GBP | 14,600 GBP |
| Rendement annuel moyen | 0.60% | 7.86% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | 12,250 GBP | 19,120 GBP |
| Rendement annuel moyen | 22.50% | 13.84% | | | Periodo de mantenimiento recomendado: 5 años Ejemplo de inversión: 10,000 GBP En caso de salida En caso de salida después de 1 año después de 5 años Escenarios |
| --- |
| Mínimo | No hay un rendimiento mínimo garantizado. Podría perder parte o la totalidad de su inversión. |
| Tensión | Lo que podría recibir tras deducir los costes | 3,620 GBP | 3,750 GBP |
| Rendimiento medio cada año | -63.80% | -17.81% |
| Desfavorable | Lo que podría recibir tras deducir los costes | 7,480 GBP | 7,190 GBP |
| Rendimiento medio cada año | -25.20% | -6.38% |
| Moderado | Lo que podría recibir tras deducir los costes | 10,060 GBP | 14,600 GBP |
| Rendimiento medio cada año | 0.60% | 7.86% |
| Favorable | Lo que podría recibir tras deducir los costes | 12,250 GBP | 19,120 GBP |
| Rendimiento medio cada año | 22.50% | 13.84% | | | Période de détention recommandée: 5 ans Exemple d'investissement: 10,000 GBP Si vous sortez Si vous sortez après 1 an après 5 ans Scénarios |
| --- |
| Minimum | Il n'existe aucun rendement minimal garanti. Vous pourriez perdre tout ou une partie de votre investissement. |
| Tensions | Ce que vous pourriez obtenir après déduction des coûts | 3,620 GBP | 3,750 GBP |
| Rendement annuel moyen | -63.80% | -17.81% |
| Défavorable | Ce que vous pourriez obtenir après déduction des coûts | 7,480 GBP | 7,190 GBP |
| Rendement annuel moyen | -25.20% | -6.38% |
| Intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10,060 GBP | 14,600 GBP |
| Rendement annuel moyen | 0.60% | 7.86% |
| Favorable | Ce que vous pourriez obtenir après déduction des coûts | 12,250 GBP | 19,120 GBP |
| Rendement annuel moyen | 22.50% | 13.84% | | fr | es |
DOLFIN749 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
Presently, Section 20 SMO designates and defines an accredited investor, an expert investor and an institutional investor as specific classes of investors for this purpose.
- Accordingly, this Prospectus and any other document, circular, notice or other material issued in connection with the offer for sale, or invitation for subscription or purchase of the Shares may not be issued, distributed, circulated or published to the public or any member of the public and the Shares may not be offered for sale or sold to any member of the public.
- Marketing and Selling RestrictionsDealing in investments, arranging deals in investments, managing securities and the giving of investment advice are regulated activities under the SMO. Unless exempted, such regulated activities may only be carried out in Brunei by a person who holds a capital market services licence issued by the Authority or such regulated activities have been specifically exempted.
-
# Chile | A l'heure actuelle, l'Article 20 du SMO désigne et définit un investisseur accrédité, un investisseur averti et un investisseur institutionnel comme des classes spécifiques d'investisseurs à cet égard.
- Pour cette raison, le présent Prospectus et tout autre document, circulaire, notice ou autre, publiés en lien avec l'offre ou la vente d'Actions, ou toute invitation à souscrire ou à acheter des Actions, ne peut pas être distribué(e), diffusé(e) ou publié(e) au public ou à tout membre du public et les Actions ne peuvent pas être offertes à la vente ni vendues à tout membre du public.
- Limitations en matière de marketing et de venteLa négociation d'investissement, l'organisation d'accord sur les investissements, la gestion de valeurs mobilières et la fourniture de conseil d'investissements sont des activités réglementées en vertu du SMO. Sauf exemption, de telles activités réglementées ne peuvent être menées au Brunei que par une personne détentrice d’une licence l’autorisant fournir des services de marché de capitaux et émise par l'Autorité ou si de telles activités réglementées ont été spécifiquement exemptées.
-
# Chili | Presently, Section 20 SMO designates and defines an accredited investor, an expert investor and an institutional investor as specific classes of investors for this purpose.
- Accordingly, this Prospectus and any other document, circular, notice or other material issued in connection with the offer for sale, or invitation for subscription or purchase of the Shares may not be issued, distributed, circulated or published to the public or any member of the public and the Shares may not be offered for sale or sold to any member of the public.
- Marketing and Selling RestrictionsDealing in investments, arranging deals in investments, managing securities and the giving of investment advice are regulated activities under the SMO. Unless exempted, such regulated activities may only be carried out in Brunei by a person who holds a capital market services licence issued by the Authority or such regulated activities have been specifically exempted.
-
# Chile | en | fr |
DOLFIN750 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
Investors can obtain information about the most recent prices and redemption facilities from the office of the UK Facilities Agent detailed above. Updated prices are also available under www.bloomberg.com.
The UK Facilities Agent is also in charge of arranging and redirecting dealing instructions to the IrishTransfer Agent State Street Fund Services (Ireland) Limited, its principal place of business being at 78 Sir John Rogerson’s Quay, Dublin 2, Ireland.
Concerning the nature of the Share classes, please refer to the Section “DEALING IN SHARES” of the latest available Prospectus.
UK resident investors should seek their own professional advice as to tax matters and other relevant considerations. Please note that investors making investments in the Company may not receive back their entire investment.
Although the UCITS is a recognised scheme by the Financial Conduct Authority for the purposes of distribution, potential and current investors in the UK are advised that the rules made under Financial Services and Market Act (FSMA) do not in general apply to the Company in relation to its investment business.
- Information to investorsThe following documents and/or information are available for inspection at the office of the UK Facilities Agent:
- The latest available prospectus and key investor information documents,
- The latest articles of association of the Company,
- The latest available annual and semi-annual financial reports of the Company,
- The issue and redemption prices.
- Cancellation RightsPlease note that the investors have no rights of cancellation in respect of their holding.
- Compensation RightsPotential investors should be aware that WELLINGTON MANAGEMENT FUNDS (IRELAND)PLC is not subject to the rules and regulations made under FSMA for the protection of investors. Investors will not have any protection under the United Kingdom Financial Services Compensation Scheme. | Anleger erhalten beim Büro des oben angegebenen UK Facilities Agent Informationen zu den aktuellen Preisen und Rücknahmemöglichkeiten. Aktualisierte Preise sind auch unter www.bloomberg.com verfügbar.
Der UK Facilities Agent ist auch für die Durchführung und Weiterleitung von Handelsanweisungen an die irische Transferstelle State Street Fund Services (Ireland) Limited mit Hauptgeschäftssitz in 78 Sir John Rogerson’s Quay, Dublin 2, Irland, zuständig.
Im Abschnitt „HANDEL MIT ANTEILEN“ des letzten verfügbaren Verkaufsprospekts finden Sie Informationen zur Art der Anteilsklassen.
Anleger mit Wohnsitz im Vereinigten Königreich sollten sich hinsichtlich Steuerfragen und sonstiger relevanter Aspekte von Fachleuten ihrer Wahl beraten lassen. Bitte beachten Sie, dass Anleger, die in die Gesellschaft investieren, möglicherweise nicht ihre gesamte Anlage zurückerhalten.
Obwohl der UCITS ein von der Financial Conduct Authority zu Vertriebszwecken anerkannter Fonds ist, werden potenzielle und derzeitige Anleger im Vereinigten Königreich darauf hingewiesen, dass die nach dem Financial Services and Market Act (FSMA) erlassenen Vorschriften nicht allgemein für das Investment-Geschäft der Gesellschaft gelten.
- Informationen für AnlegerDie folgenden Dokumente und/oder Informationen sind zur Einsichtnahme in der Niederlassung des UK Facilities Agent verfügbar:
- der letzte verfügbare Verkaufsprospekt und die letzten verfügbaren Dokumente mit den wesentlichen Informationen für den Anleger,
- die letzte Satzung der Gesellschaft,
- die letzten verfügbaren Jahres- und Halbjahresberichte der Gesellschaft,
- die Ausgabe- und Rücknahmepreise.
- WiderrufsrechteBitte beachten Sie, dass die Anleger keine Widerrufsrechte im Hinblick auf ihre Bestände haben.
- EntschädigungsrechtePotenzielle Anleger sollten beachten, dass WELLINGTON MANAGEMENT FUNDS (IRELAND) PLC nicht den Regeln und Vorschriften unterliegt, die im Rahmen des FSMA für den Schutz von Anlegern erlassen wurden. Für Anleger besteht kein Schutz im Rahmen des Financial Services Compensation Scheme des Vereinigten Königreichs. | Investors can obtain information about the most recent prices and redemption facilities from the office of the UK Facilities Agent detailed above. Updated prices are also available under www.bloomberg.com.
The UK Facilities Agent is also in charge of arranging and redirecting dealing instructions to the IrishTransfer Agent State Street Fund Services (Ireland) Limited, its principal place of business being at 78 Sir John Rogerson’s Quay, Dublin 2, Ireland.
Concerning the nature of the Share classes, please refer to the Section “DEALING IN SHARES” of the latest available Prospectus.
UK resident investors should seek their own professional advice as to tax matters and other relevant considerations. Please note that investors making investments in the Company may not receive back their entire investment.
Although the UCITS is a recognised scheme by the Financial Conduct Authority for the purposes of distribution, potential and current investors in the UK are advised that the rules made under Financial Services and Market Act (FSMA) do not in general apply to the Company in relation to its investment business.
- Information to investorsThe following documents and/or information are available for inspection at the office of the UK Facilities Agent:
- The latest available prospectus and key investor information documents,
- The latest articles of association of the Company,
- The latest available annual and semi-annual financial reports of the Company,
- The issue and redemption prices.
- Cancellation RightsPlease note that the investors have no rights of cancellation in respect of their holding.
- Compensation RightsPotential investors should be aware that WELLINGTON MANAGEMENT FUNDS (IRELAND)PLC is not subject to the rules and regulations made under FSMA for the protection of investors. Investors will not have any protection under the United Kingdom Financial Services Compensation Scheme. | en | de |
DOLFIN751 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Exposure to issuers offering environmental solutions
| Weight of portfolio issuers rated in Carbon with a revenue dedicated to environmental solutions between |
| --- |
| | Portfolio | ESG Euro Corporate Bond |
The data represent the portfolio's exposure to issuers offering environmental solutions (in terms of the weight of the portfolio rated in Carbon) and the type of solutions proposed: energy efficiency, alternative energy, sustainable water, pollution prevention or sustainable construction. These emitters are likely to benefit from a low carbon transition.
The green area is defined as the percentage of outstandings invested in companies whose activity contributes to the fight against climate change (to reflect eco-solutions / green products).
| Weight of Companies rated in Carbon Offering Clean Technology Solutions | [1-19.9%] | 29.0% | 18.9% |
| --- | --- | --- | --- |
| | [20-49.9%] | 6.1% | 4.3% |
| | [50-100%] | 2.3% | 2.6% |
| Weight of portfolio issuers rated in Carbon Offering Clean Technology Goods & Services |
| --- |
| Theme | Portfolio | ESG Euro Corporate Bond |
| Alternative Energy | 17.1% | 10.3% |
| --- | --- | --- |
| Energy Efficiency | 35.0% | 17.4% |
| Green Building | 2.4% | 4.8% |
| Pollution Prevention | 7.7% | 6.7% |
| Sustainable Water | 6.9% | 4.5% |
| Sustainable Agriculture | 0.0% | 0.2% | | # Exposition du portefeuille aux émetteurs proposant des solutions environnementales
| Poids des émetteurs du portefeuille noté en Carbone ayant un chiffre d'affaires consacré aux solutions environnementales compris entre |
| --- |
| | Portefeuille | ESG Euro Corporate Bond |
Les données représentent l’exposition du portefeuille aux émetteurs proposant des solutions environnementales (en poids du portefeuille noté en Carbone) et le type de solutions proposées : efficacité énergétique, énergie alternative, eau durable, prévention des pollutions ou construction durable. Ces émetteurs sont susceptibles de bénéficier d’une transition bas carbone.
La part verte se définit comme le pourcentage de l’encours investi dans des sociétés dont l’activité contribue à la lutte contre le changement climatique (pour refléter les éco-solutions/produits verts).
| Poids des entreprises notées en carbone offrant des solutions technologiques propres | [1-19.9%] | 29.0% | 18.9% |
| --- | --- | --- | --- |
| | [20-49.9%] | 6.1% | 4.3% |
| | [50-100%] | 2.3% | 2.6% |
| Poids des émetteurs du portefeuille noté en Carbone offrant des solutions technologiques propres |
| --- |
| Theme | Portefeuille | ESG Euro Corporate Bond |
| Énergie alternative | 17.1% | 10.3% |
| --- | --- | --- |
| Efficacité énergétique | 35.0% | 17.4% |
| Bâtiment vert | 2.4% | 4.8% |
| Prévention de la pollution | 7.7% | 6.7% |
| Eau durable | 6.9% | 4.5% |
| Agriculture durable | 0.0% | 0.2% | | # Exposure to issuers offering environmental solutions
| Weight of portfolio issuers rated in Carbon with a revenue dedicated to environmental solutions between |
| --- |
| | Portfolio | ESG Euro Corporate Bond |
The data represent the portfolio's exposure to issuers offering environmental solutions (in terms of the weight of the portfolio rated in Carbon) and the type of solutions proposed: energy efficiency, alternative energy, sustainable water, pollution prevention or sustainable construction. These emitters are likely to benefit from a low carbon transition.
The green area is defined as the percentage of outstandings invested in companies whose activity contributes to the fight against climate change (to reflect eco-solutions / green products).
| Weight of Companies rated in Carbon Offering Clean Technology Solutions | [1-19.9%] | 29.0% | 18.9% |
| --- | --- | --- | --- |
| | [20-49.9%] | 6.1% | 4.3% |
| | [50-100%] | 2.3% | 2.6% |
| Weight of portfolio issuers rated in Carbon Offering Clean Technology Goods & Services |
| --- |
| Theme | Portfolio | ESG Euro Corporate Bond |
| Alternative Energy | 17.1% | 10.3% |
| --- | --- | --- |
| Energy Efficiency | 35.0% | 17.4% |
| Green Building | 2.4% | 4.8% |
| Pollution Prevention | 7.7% | 6.7% |
| Sustainable Water | 6.9% | 4.5% |
| Sustainable Agriculture | 0.0% | 0.2% | | en | fr |
DOLFIN752 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
###### The combination of China and US monetary policies is leading to sharp Asia FX devaluations.
Added to this are the ongoing uncertainties damaging investments in China, namely rolling Covid-19 lockdowns affecting consumption, limited fiscal stimulus, regulatory and real estate policies accompanied by protracted and deepening weakness in the property sector, and increasing geo-political tensions over Taiwan.
The anticipated global economic slowdown is compounding the reduction in global trade, orders and pricing. This is being seen, for instance, in orders (pricing and volume) for TSMC from Apple, while Samsung Electronics is suffering from inventory build and pricing. Despite this, fluctuating but broadly continuous pressure on food and energy prices remains a consequence of the war in Ukraine. | ##### La combinazione delle politiche monetarie di Cina e Stati Uniti sta portando a forti svalutazioni delle valute asiatiche.
A ciò si aggiungono le continue incertezze che danneggiano gli investimenti in Cina, ovvero i ripetuti lockdown dovuti al Covid-19 che incidono sui consumi, i limitati stimoli fiscali, le politiche normative e immobiliari accompagnate da una prolungata e crescente debolezza del settore immobiliare e le crescenti tensioni geopolitiche riguardanti Taiwan.
Il previsto rallentamento dell'economia mondiale sta aggravando la riduzione del commercio mondiale, degli ordinativi e dei prezzi. Questa dinamica si nota, ad esempio, negli ordini (prezzi e volumi) di TSMC da parte di Apple, mentre Samsung Electronics sta soffrendo per l'accumulo di scorte e per la determinazione dei prezzi. Ciononostante, la pressione fluttuante ma sostanzialmente continua sui prezzi di generi alimentari ed energia rimane una conseguenza della guerra in Ucraina. | ###### The combination of China and US monetary policies is leading to sharp Asia FX devaluations.
Added to this are the ongoing uncertainties damaging investments in China, namely rolling Covid-19 lockdowns affecting consumption, limited fiscal stimulus, regulatory and real estate policies accompanied by protracted and deepening weakness in the property sector, and increasing geo-political tensions over Taiwan.
The anticipated global economic slowdown is compounding the reduction in global trade, orders and pricing. This is being seen, for instance, in orders (pricing and volume) for TSMC from Apple, while Samsung Electronics is suffering from inventory build and pricing. Despite this, fluctuating but broadly continuous pressure on food and energy prices remains a consequence of the war in Ukraine. | en | it |
DOLFIN753 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
The calculation of the risk and reward profile is based on historical data that cannot be used as a reliable indicator for the future risk profile. This risk indicator is subject to changes; the classification of the fund may change over time and cannot be guaranteed. Even a fund that is classified in the lowest category (category 1) does not represent a completely risk-free investment. The fund is classified in category 6 because its share price may fluctuate strongly and the likelihood of both losses and gains may therefore be high. The following risks could be of particular significance for the fund: The fund does not invest directly in the components of the index and its returns will be dependent on the performance of the derivatives used. The fund may enter into one or more derivatives with one or more counterparties. If any of the counterparties fails to make payments (for example, it becomes insolvent) this may result in your investment suffering a loss. DWS entities and related
in the shares before tax. The composition of the index is reviewed at least every month. At review the index constituents are capped if their weight within the index is greater than 15%. To achieve the aim, the fund will invest in transferable securities and enter into financial contracts (derivatives) with one or more swap counterparties relating to the transferable securities and the index, in order to obtain the return on the index. The currency of the fund is USD. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.
companies may act in several roles in relation to the fund such as distributor and management company which may involve conflicts of interest. The fund is not guaranteed and your investment is at risk. The value of your investment may go down as well as up. The fund is exposed to less economically developed economies (known as emerging markets) which involve greater risks than well developed economies. Political unrest and economic downturn may be more likely and will affect the value of your investment. The derivative used to gain exposure to the index may be adjusted to reflect certain expenses in relation to taxes and/or buying, selling, borrowing, financing or custody costs. These replication costs may result in the fund and your investment suffering a loss. The fund is exposed to less economically developed economies (known as frontier / pre-emerging markets) which involve much greater risks than investing in well-developed economies or even emerging markets. Political unrest, the lack of government regulation, economic downturn and limited liquidity may be much more likely and could therefore affect the value of your investment.
A more detailed description of risks and other general information can be found in the risk section(s) of the prospectus. | El cálculo del perfil de riesgo y remuneración se basa en datos históricos que pueden no constituir una indicación fiable del futuro perfil de riesgo. Este indicador del riesgo está sujeto a alteraciones; la categoría que se atribuye al fondo puede variar a lo largo del tiempo y no es posible ofrecer garantías al respecto. Ni siquiera un fondo encuadrado en la categoría más baja (categoría 1) constituye una inversión completamente libre de riesgo. El fondo se encuadra dentro de la categoría 6, dado que su precio por acción puede fluctuar con intensidad y, por ello, tanto las oportunidades de pérdidas como las de ganancias pueden ser elevadas. Especialmente los siguientes riesgos pueden tener relevancia para el fondo: El fondo no invierte directamente en los componentes del índice y su rentabilidad dependerá del rendimiento de los derivados utilizados. El fondo podría suscribir uno o más derivados con una o más contrapartes. Si alguna de las contrapartes no efectúa los pagos (por ejemplo, si deviene insolvente), esto podría provocar que su inversión sufriera pérdidas. Las entidades de DWS y sus empresas vinculadas
las acciones tras descontar impuestos. La composición del índice se revisa al menos una vez al mes. En la revisión, los componentes del índice alcanzarán el límite si su ponderación dentro del índice es superior al 15%. Para lograr el objetivo, el fondo invertirá en valores negociables y suscribirá con una o más contrapartes de swaps contratos financieros (derivados) relacionados con los valores negociables y el índice para obtener la rentabilidad sobre el índice. La moneda del subfondo es USD. Las acciones del fondo son de acumulación, es decir, los rendimientos y ganancias no se reparten sino que se reinvierten en el fondo. Por lo general, puede solicitar el reembolso de sus acciones diariamente.
podrían desempeñar distintas funciones con respecto al fondo, como comercializador y sociedad gestora, lo que podría ocasionar conflictos de interés. El fondo no está garantizado y su inversión está en riesgo. El valor de su inversión podría subir o bajar. El fondo está expuesto a mercados menos desarrollados económicamente (denominados mercados emergentes), que entrañan mayores riesgos que las economías muy desarrolladas. La inestabilidad política y la crisis económica son más probables y afectarán al valor de su inversión. El derivado empleado para tener más exposición al índice puede ser ajustado para reflejar determinados gastos relativos a impuestos y/o costes de compraventa, préstamo, financiación o custodia. Estos costes de réplica podrían provocar que tanto el fondo como su inversión sufran pérdidas. El fondo está expuesto a economías menos desarrollados (denominadas mercados frontera/ pre-emergentes), que entrañan riesgos mucho mayores que las economías muy desarrolladas o incluso los mercados emergentes. En estos, la inestabilidad política, la falta de regulación gubernamental, las crisis económicas y las limitaciones de liquidez son acontecimientos mucho más probables y, por tanto, podrían afectar al valor de su inversión.
Puede encontrar una descripción detallada de los riesgos y otra información general en las secciones sobre riesgos del folleto de venta. | The calculation of the risk and reward profile is based on historical data that cannot be used as a reliable indicator for the future risk profile. This risk indicator is subject to changes; the classification of the fund may change over time and cannot be guaranteed. Even a fund that is classified in the lowest category (category 1) does not represent a completely risk-free investment. The fund is classified in category 6 because its share price may fluctuate strongly and the likelihood of both losses and gains may therefore be high. The following risks could be of particular significance for the fund: The fund does not invest directly in the components of the index and its returns will be dependent on the performance of the derivatives used. The fund may enter into one or more derivatives with one or more counterparties. If any of the counterparties fails to make payments (for example, it becomes insolvent) this may result in your investment suffering a loss. DWS entities and related
in the shares before tax. The composition of the index is reviewed at least every month. At review the index constituents are capped if their weight within the index is greater than 15%. To achieve the aim, the fund will invest in transferable securities and enter into financial contracts (derivatives) with one or more swap counterparties relating to the transferable securities and the index, in order to obtain the return on the index. The currency of the fund is USD. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.
companies may act in several roles in relation to the fund such as distributor and management company which may involve conflicts of interest. The fund is not guaranteed and your investment is at risk. The value of your investment may go down as well as up. The fund is exposed to less economically developed economies (known as emerging markets) which involve greater risks than well developed economies. Political unrest and economic downturn may be more likely and will affect the value of your investment. The derivative used to gain exposure to the index may be adjusted to reflect certain expenses in relation to taxes and/or buying, selling, borrowing, financing or custody costs. These replication costs may result in the fund and your investment suffering a loss. The fund is exposed to less economically developed economies (known as frontier / pre-emerging markets) which involve much greater risks than investing in well-developed economies or even emerging markets. Political unrest, the lack of government regulation, economic downturn and limited liquidity may be much more likely and could therefore affect the value of your investment.
A more detailed description of risks and other general information can be found in the risk section(s) of the prospectus. | en | es |
DOLFIN754 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
Supplement for the Janus Henderson Europe Fund2
The date of this Supplement is 26 February 2021.
This Supplement contains information specific to the Janus Henderson Europe Fund (the “Fund”), a sub-fund of Janus Henderson Capital Funds plc (the “Company”). The Company is a UCITS established as an umbrella investment company with segregated liability between Funds with variable capital incorporated in Ireland and regulated by the Central Bank.
This Supplement forms part of and should be read in conjunction with the latest Prospectus. The Prospectus may be revised or supplemented from time to time. All capitalised terms used in this Supplement and not otherwise defined herein shall have the meanings set forth in the Prospectus.
SUMMARY
The information set out under this heading is a summary of the principal features of the Fund, and should be read in conjunction with the full text of the Supplement. | Supplément concernant le Fonds Janus Henderson Europe Fund2
Le présent Supplément est établi en date du 26 février 2021.
Le présent Supplément contient des informations spécifiques au fonds Janus Henderson Europe Fund (le « Fonds »), un compartiment de Janus Henderson Capital Funds plc (la « Société »). La Société est un OPCVM établi sous la forme d’une société d’investissement à capital variable avec séparation des passifs entre les Fonds, constituée en Irlande et régie par la Banque centrale.
Le présent Supplément fait partie intégrante du dernier Prospectus et doit être lu conjointement avec celui-ci. Le Prospectus peut être révisé ou complété de temps à autre. Les termes commençant par une majuscule utilisés dans le présent Supplément, qui n'ont pas été définis dans les présentes, ont la même signification que dans le Prospectus.
RÉSUMÉ
Les informations reprises sous ce titre constituent un résumé des principales caractéristiques du Fonds et doivent être lues conjointement avec le texte complet du Supplément. | Supplement for the Janus Henderson Europe Fund2
The date of this Supplement is 26 February 2021.
This Supplement contains information specific to the Janus Henderson Europe Fund (the “Fund”), a sub-fund of Janus Henderson Capital Funds plc (the “Company”). The Company is a UCITS established as an umbrella investment company with segregated liability between Funds with variable capital incorporated in Ireland and regulated by the Central Bank.
This Supplement forms part of and should be read in conjunction with the latest Prospectus. The Prospectus may be revised or supplemented from time to time. All capitalised terms used in this Supplement and not otherwise defined herein shall have the meanings set forth in the Prospectus.
SUMMARY
The information set out under this heading is a summary of the principal features of the Fund, and should be read in conjunction with the full text of the Supplement. | en | fr |
DOLFIN755 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Ce type de scénario s’est produit pour un placement CS (Lux) Cat Bond Fund UBH CHF entre 31/12/2021-31/12/2022.
Scénario défavorable
Ce que vous pourriez obtenir après déduction des coûts
Rendement annuel moyen
CHF 9 408
-5,90%
CHF 9 538
-0,90% | # Este tipo de escenario se produjo para una inversión CS (Lux) Cat Bond Fund UBH CHF entre 31/12/2021-31/12/2022.
Escenario desfavorable
Lo que podría recibir una vez deducidos los costes
Rendimiento promedio cada año
9 408 CHF
-5,90%
9 538 CHF
-0,90% | # Ce type de scénario s’est produit pour un placement CS (Lux) Cat Bond Fund UBH CHF entre 31/12/2021-31/12/2022.
Scénario défavorable
Ce que vous pourriez obtenir après déduction des coûts
Rendement annuel moyen
CHF 9 408
-5,90%
CHF 9 538
-0,90% | fr | es |
DOLFIN756 | 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
EM-specific news took a back seat as U.S. elections and the European virus took centre stage. October was also the occasion for all EM players to gather around the annual IMF meetings, held virtually this year. There were few surprises regarding individual countries outlooks amidst the current global macro pressures. However, we were comforted in our long-held view that, across EMs, the political economy trade-off between economic and health concerns would still lean towards keeping economies open, hence reinforcing our conviction of a continuing progressive EM growth recovery versus stalling DMs momentum. Finally, the IMF echoed most global central banks and multilaterals, in advocating more fiscal spending as the main fix to this crisis, pending a vaccine or treatment.
## Fund Review
Absolute performance was uneventful and stable for the most part, although single portfolio trades had offsetting influences. Our largest gain came from our positions in Ghana. We also gained from a tactical long on the EM CDX index. We had a few detractors in this “range trading” month, led by our long position in Argentina external debt. Our Zambia recovery trade also underperformed.
## Market Outlook
We expect the progressive EM growth recovery to endure. This contrast with stalling DM expectations in relation with the current virus surge in both Europe and the U.S. The pandemic remains contained in most of Asia, while CE3, Russia, and India are still facing renewed surges in cases, and Latam infections remain elevated but haven't worsened dramatically lately. This opens a window for EM currencies to outperform versus the USD, despite a less solid case for USD weakness after U.S. elections. EM governments will be watchful of excessive appreciation, as China manifested in October. The immediate post-election environment will remain conflicted between the U.S. virus surge, to be managed by a lame duck administration, and a likely downgrade in DM macro expectations, versus the likelihood of positive news of a vaccine and peaking EU infections by early December. A more entrenched December rally, driven by better risk/yield appetite and positive inflows into EMD is a fair possibility despite the certainty of weaker DM macro data. | # Commentaire de gestion
## Commentaires sur le marché
Les nouvelles spécifiques aux ME ont été mises de côté alors que les élections américaines et le virus européen ont occupé le devant de la scène. Le mois d’octobre a également été l’occasion pour tous les acteurs des ME de se réunir autour des réunions annuelles du FMI, qui se sont déroulées virtuellement cette année. Il y a eu peu de surprises concernant les perspectives des différents pays dans le contexte des pressions macroéconomiques mondiales actuelles. Toutefois, nous avons été rassurés dans notre opinion de longue date selon laquelle, dans l’ensemble des ME, le compromis entre les préoccupations économiques et sanitaires continuerait de pencher vers le maintien de l’ouverture des économies, renforçant ainsi notre conviction d’une reprise progressive continue de la croissance des ME par rapport à la dynamique poussive des marchés développés. Enfin, le FMI s’est fait l’écho de la plupart des banques centrales et des multilatérales mondiales, en préconisant une augmentation des dépenses budgétaires comme principale solution à cette crise, dans l’attente d’un vaccin ou d’un traitement.
## Commentaires sur le portefeuille
La performance absolue a été calme et stable dans sa majeure partie, bien que les opérations de portefeuille unique aient eu des influences compensatoires. Notre plus grand gain est venu de nos positions au Ghana. Une position tactique longue sur l’indice EM CDX a également été payante. Nous avons eu quelques détracteurs dans ce mois de « trading de gamme », mené par notre position longue sur la dette extérieure de l’Argentine. Notre opération sur la reprise en Zambie a également sous-performé.
## Persectives du marché
Nous nous attendons à ce que la reprise progressive de la croissance des ME perdure. Ce contraste avec les attentes de ralentissement dans les marchés développés, en lien avec l’augmentation actuelle des cas de contamination du virus en Europe et aux États-Unis. La pandémie reste contenue dans la majeure partie de l’Asie, tandis que la CE3, la Russie et l’Inde sont toujours confrontées à de nouvelles hausses de cas, et que les infections en Amérique Latine restent élevées, sans avoir empiré de façon spectaculaire ces derniers temps. Cela ouvre une fenêtre pour une surperformance des monnaies des ME par rapport à l’USD, en dépit d’un cas moins solide pour la faiblesse de l’USD après les élections américaines. Les gouvernements des ME seront attentifs à l’appréciation excessive, comme la Chine l’a manifesté en octobre. L’environnement post-électoral immédiat restera en conflit entre la flambée du virus américain, qui sera gérée par une administration affaiblie, et une baisse probable des attentes macroéconomiques dans les marchés développés, par rapport à la probabilité de nouvelles positives d’un vaccin et de pics d’infections au sein de l’UE d’ici début décembre. Une reprise plus ancrée en décembre, portée par un meilleur appétit pour le risque et le rendement et des entrées positives dans la dette émergente est une possibilité, malgré la certitude d’une faiblesse des données macroéconomiques des marchés développés. | # Fund management commentary
## Market Review
EM-specific news took a back seat as U.S. elections and the European virus took centre stage. October was also the occasion for all EM players to gather around the annual IMF meetings, held virtually this year. There were few surprises regarding individual countries outlooks amidst the current global macro pressures. However, we were comforted in our long-held view that, across EMs, the political economy trade-off between economic and health concerns would still lean towards keeping economies open, hence reinforcing our conviction of a continuing progressive EM growth recovery versus stalling DMs momentum. Finally, the IMF echoed most global central banks and multilaterals, in advocating more fiscal spending as the main fix to this crisis, pending a vaccine or treatment.
## Fund Review
Absolute performance was uneventful and stable for the most part, although single portfolio trades had offsetting influences. Our largest gain came from our positions in Ghana. We also gained from a tactical long on the EM CDX index. We had a few detractors in this “range trading” month, led by our long position in Argentina external debt. Our Zambia recovery trade also underperformed.
## Market Outlook
We expect the progressive EM growth recovery to endure. This contrast with stalling DM expectations in relation with the current virus surge in both Europe and the U.S. The pandemic remains contained in most of Asia, while CE3, Russia, and India are still facing renewed surges in cases, and Latam infections remain elevated but haven't worsened dramatically lately. This opens a window for EM currencies to outperform versus the USD, despite a less solid case for USD weakness after U.S. elections. EM governments will be watchful of excessive appreciation, as China manifested in October. The immediate post-election environment will remain conflicted between the U.S. virus surge, to be managed by a lame duck administration, and a likely downgrade in DM macro expectations, versus the likelihood of positive news of a vaccine and peaking EU infections by early December. A more entrenched December rally, driven by better risk/yield appetite and positive inflows into EMD is a fair possibility despite the certainty of weaker DM macro data. | en | fr |
DOLFIN757 | 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 reward Potentially higher reward
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
The calculation of the risk and reward profile is based on simulated data that cannot be used as a reliable indicator for the future risk profile. This risk indicator is subject to changes; the classification of the fund may change over time and cannot be guaranteed. Even a fund that is classified in the lowest category (category 1) does not represent a completely risk-free investment. The fund is classified in category 5 because its share price fluctuates comparatively strongly and the likelihood of both losses and gains is therefore relatively high. The following risks could be of particular significance for the fund: The fund does not invest directly in the components of the index and its returns will be dependent on the performance of the derivatives used. The fund may enter into one or more derivatives with one or more counterparties. If any of the counterparties fails to make payments (for example, becomes
tax. To achieve the aim, the fund will invest in transferable securities and enter into financial contracts (derivatives) with one or more counterparties relating to the transferable securities and the net or gross total return version of the index (swap index), in order to obtain the return on the swap index. The gross total return version of the index calculates the performance of the stocks assuming that all dividends and distributions are reinvested on a gross basis. The swap index shall be selected in the absolute discretion of the Investment Manager. The currency of the fund is USD. The fund distributes up to four times per annum. You may request the redemption of shares generally on a daily basis.
insolvent) this may result in your investment suffering a loss. DWS entities and related companies may act in several roles in relation to the fund such as distributor and management company which may involve conflicts of interest. The fund is not guaranteed and your investment is at risk. The value of your investment may go down as well as up. The value of an investment in shares will depend on a number of factors including, but not limited to, market and economic conditions, sector, geographical region and political events. The fund may use derivatives to try to manage its investments more efficiently. This may not always be successful and may result in greater fluctuations in the value of the fund. This may negatively affect the value of the fund and your investment. The derivative used to gain exposure to the swap index may be adjusted to reflect certain expenses in relation to taxes and/or buying, selling, borrowing, financing or custody costs. These replication costs may result in the fund and your investment suffering a loss.
A more detailed description of risks and other general information can be found in the risk section(s) of the prospectus.
| One-off charges taken before or after you invest |
| --- |
| Entry charge | None |
| Exit charge | None |
| This is the maximum that might be taken out of your money before it is invested (entry charge) and before the proceeds of your investment are paid out (exit charge). |
| Charges taken from the fund over a year |
| Ongoing charges | 0.07 % |
| Charges taken from the fund under certain specific conditions |
| Performance fee | None | | # Perfil de riesgo y remuneración
Menor riesgo Mayor riesgo
Normalmente, menor rendimiento Normalmente, mayor rendimiento
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
El cálculo del perfil de riesgo y remuneración se basa en datos simulados que pueden no constituir una indicación fiable del futuro perfil de riesgo. Este indicador del riesgo está sujeto a alteraciones; la categoría que se atribuye al fondo puede variar a lo largo del tiempo y no es posible ofrecer garantías al respecto. Ni siquiera un fondo encuadrado en la categoría más baja (categoría 1) constituye una inversión completamente libre de riesgo. El fondo se encuadra dentro de la categoría 5, dado que su precio por acción, comparativamente, fluctúa con intensidad y, por ello, tanto las oportunidades de pérdidas como las de ganancias son relativamente elevadas. Especialmente los siguientes riesgos pueden tener relevancia para el fondo: El fondo no invierte directamente en los componentes del índice y su rentabilidad dependerá del rendimiento de los derivados utilizados. El fondo puede participar en uno o varios derivados con una o varias contrapartes. Si alguna de las contrapartes no efectúa los pagos (por ejemplo, si deviene insolvente), esto podría provocar que su
reinvierten en las acciones tras descontar los impuestos. Para lograr el objetivo, el fondo invertirá en valores mobiliarios y suscribirá contratos financieros (derivados) con una o varias contrapartes en relación con los valores mobiliarios y con la versión de rentabilidad total bruta o neta del índice (índice de swaps) con el fin de conseguir reflejar la evolución del índice de swaps. La versión de rentabilidad total bruta del índice calcula la evolución del valor de los títulos suponiendo que todos los dividendos y repartos se reinvierten en su forma bruta. El gestor de inversiones podrá seleccionar el índice de swaps a su entera discreción. La moneda del subfondo es USD. El fondo reparte dividendos hasta cuatro veces al año. Por lo general, puede solicitar el reembolso de sus acciones diariamente.
inversión sufriera pérdidas. Las entidades de DWS y sus empresas vinculadas pueden desempeñar diversas funciones en relación con el fondo, como las de sociedad distribuidora o sociedad gestora, lo que puede ocasionar conflictos de intereses. El fondo no está garantizado y su inversión está sujeta a riesgos. El valor de su inversión puede aumentar o disminuir. El valor de una inversión en acciones dependerá de varios factores, incluidos, entre otros, las condiciones económicas y del mercado, el sector, la zona geográfica y los acontecimientos políticos. El fondo puede emplear derivados financieros para tratar de gestionar sus inversiones de una forma más eficiente. Es posible que esta medida no tenga los resultados esperados, lo que podría provocar mayores fluctuaciones en el valor del fondo. Esto podría afectar negativamente al valor del propio fondo y de su inversión. Los derivados empleados para tener más exposición al índice de swaps pueden ajustarse para reflejar determinados gastos relacionados con impuestos o costes de compraventa, préstamo, financiación o custodia. Estos costes de réplica podrían provocar que tanto el fondo como su inversión sufran pérdidas.
Puede encontrar una descripción detallada de los riesgos y otra información general en las secciones sobre riesgos del folleto de venta.
| Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión |
| --- |
| Gastos de entrada | Ninguno |
| Gastos de salida | Ninguno |
| Este es el máximo que puede deducirse de su capital antes de ser invertido (cargo de entrada) y antes de abonarse los rendimientos de su inversión (cargo de salida). |
| Gastos detraídos del fondo a lo largo de un año |
| Gastos corrientes | 0,07 % |
| Gastos detraídos del fondo en determinadas condiciones específicas |
| Comisión de rentabilidad | Ninguno | | # Risk and reward profile
Lower risk Higher risk
Potentially lower reward Potentially higher reward
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
The calculation of the risk and reward profile is based on simulated data that cannot be used as a reliable indicator for the future risk profile. This risk indicator is subject to changes; the classification of the fund may change over time and cannot be guaranteed. Even a fund that is classified in the lowest category (category 1) does not represent a completely risk-free investment. The fund is classified in category 5 because its share price fluctuates comparatively strongly and the likelihood of both losses and gains is therefore relatively high. The following risks could be of particular significance for the fund: The fund does not invest directly in the components of the index and its returns will be dependent on the performance of the derivatives used. The fund may enter into one or more derivatives with one or more counterparties. If any of the counterparties fails to make payments (for example, becomes
tax. To achieve the aim, the fund will invest in transferable securities and enter into financial contracts (derivatives) with one or more counterparties relating to the transferable securities and the net or gross total return version of the index (swap index), in order to obtain the return on the swap index. The gross total return version of the index calculates the performance of the stocks assuming that all dividends and distributions are reinvested on a gross basis. The swap index shall be selected in the absolute discretion of the Investment Manager. The currency of the fund is USD. The fund distributes up to four times per annum. You may request the redemption of shares generally on a daily basis.
insolvent) this may result in your investment suffering a loss. DWS entities and related companies may act in several roles in relation to the fund such as distributor and management company which may involve conflicts of interest. The fund is not guaranteed and your investment is at risk. The value of your investment may go down as well as up. The value of an investment in shares will depend on a number of factors including, but not limited to, market and economic conditions, sector, geographical region and political events. The fund may use derivatives to try to manage its investments more efficiently. This may not always be successful and may result in greater fluctuations in the value of the fund. This may negatively affect the value of the fund and your investment. The derivative used to gain exposure to the swap index may be adjusted to reflect certain expenses in relation to taxes and/or buying, selling, borrowing, financing or custody costs. These replication costs may result in the fund and your investment suffering a loss.
A more detailed description of risks and other general information can be found in the risk section(s) of the prospectus.
| One-off charges taken before or after you invest |
| --- |
| Entry charge | None |
| Exit charge | None |
| This is the maximum that might be taken out of your money before it is invested (entry charge) and before the proceeds of your investment are paid out (exit charge). |
| Charges taken from the fund over a year |
| Ongoing charges | 0.07 % |
| Charges taken from the fund under certain specific conditions |
| Performance fee | None | | en | es |
DOLFIN758 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The Management Company will, on request, provide supplementary information to Shareholders relating to the risk management methods employed, including the quantitative limits that are applied and any recent developments in the risk and yield characteristics of the main categories of investments.
FDIs used for efficient portfolio management must also comply with the Central Bank’s UCITS Regulations. Any FDIs not included in the risk management process will not be utilised by a Fund until such time as a revision of the risk management process in provided to the Central Bank for review.
Global Depositary Notes. A global depositary note is a debt instrument issued by a depositary bank, which gives the holder beneficial ownership of a specific underlying underlying local security but which trades, settles, and pays interest and principal in US dollars. Global depositary notes expand the universe of emerging market debt securities available to investors wishing to invest in emerging market debt instruments where such local currency debt instruments may be unavailable to offshore investors. Global depositary notes may be settled via Euroclear, Clearstream or DTC. | Die Verwaltungsgesellschaft stellt den Anteilsinhabern auf Verlangen zusätzliche Informationen zu den herangezogenen Risikomanagementmethoden zur Verfügung, einschließlich der damit verbundenen quantitativen Obergrenzen und der aktuellen Entwicklungen bei den Risiko- und Renditemerkmalen der wichtigsten Anlagekategorien.
Derivate, die für ein effizientes Portfoliomanagement verwendet werden, müssen ebenfalls den UCITS- Vorschriften der Zentralbank entsprechen. Derivate, die nicht in den Risikomanagementprozess einbezogen sind, werden von einem Fonds erst dann eingesetzt, wenn der Zentralbank eine Überarbeitung des Risikomanagementprozesses zur Prüfung vorgelegt wird.
Global Depositary Notes. Eine Global Depositary Note ist ein von einer Verwahrstelle begebenes Schuldinstrument, das dem Inhaber das wirtschaftliche Eigentum an einem bestimmten zugrunde liegenden lokalen Wertpapier bietet, wobei jedoch Handel, Abrechnung, Zins- und Tilgungszahlungen in US-Dollar erfolgen. Global Depositary Notes erweitern das Universum der verfügbaren Schwellenmarkt- Schuldtitel für Anleger, die in Schwellenmarkt-Schuldtitel investieren möchten, wenn solche Schuldtitel in Landeswährung für ausländische Anleger nicht verfügbar sind. Global Depositary Notes können über Euroclear, Clearstream oder DTC abgerechnet werden. | The Management Company will, on request, provide supplementary information to Shareholders relating to the risk management methods employed, including the quantitative limits that are applied and any recent developments in the risk and yield characteristics of the main categories of investments.
FDIs used for efficient portfolio management must also comply with the Central Bank’s UCITS Regulations. Any FDIs not included in the risk management process will not be utilised by a Fund until such time as a revision of the risk management process in provided to the Central Bank for review.
Global Depositary Notes. A global depositary note is a debt instrument issued by a depositary bank, which gives the holder beneficial ownership of a specific underlying underlying local security but which trades, settles, and pays interest and principal in US dollars. Global depositary notes expand the universe of emerging market debt securities available to investors wishing to invest in emerging market debt instruments where such local currency debt instruments may be unavailable to offshore investors. Global depositary notes may be settled via Euroclear, Clearstream or DTC. | en | de |
DOLFIN759 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
Echiquier Robotics may invest in securities with embedded derivatives (warrants, subscription certificates) traded on eurozone and/or international regulated markets or over the counter.
The use of embedded derivatives, as opposed to the other derivative instruments listed above, will mainly be as a result of the manager seeking to optimise the hedging strategy, or, if appropriate, to improve the performance of the portfolio by reducing the costs related to the use of these financial instruments in order to achieve the investment objective.
Risks to which the manager may seek exposure:
- Indexes (stocks)
- Equities
- CurrencyThe sum of commitments relating to securities with embedded derivatives is limited to 100% of net assets.
-
##### Deposits | Echiquier Robotics peut investir sur des titres intégrant des dérivés (notamment warrants, bon de souscription) négociés sur des marchés de la zone euro et/ou internationaux, réglementés ou de gré à gré.
Le recours à des titres intégrant des dérivés, par rapport aux autres instruments dérivés énoncés ci-dessus, sera justifié notamment par la volonté du gérant d’optimiser la couverture ou, le cas échéant, la dynamisation du portefeuille en réduisant le coût lié à l’utilisation de ces instruments financiers afin d’atteindre l’objectif de gestion.
Les risques sur lesquels le gérant peut intervenir :
- Indices (actions)
- Actions
- DevisesLa somme des engagements liés aux titres intégrant des dérivés est limitée à 100% de l’actif net.
-
##### Dépôts | Echiquier Robotics may invest in securities with embedded derivatives (warrants, subscription certificates) traded on eurozone and/or international regulated markets or over the counter.
The use of embedded derivatives, as opposed to the other derivative instruments listed above, will mainly be as a result of the manager seeking to optimise the hedging strategy, or, if appropriate, to improve the performance of the portfolio by reducing the costs related to the use of these financial instruments in order to achieve the investment objective.
Risks to which the manager may seek exposure:
- Indexes (stocks)
- Equities
- CurrencyThe sum of commitments relating to securities with embedded derivatives is limited to 100% of net assets.
-
##### Deposits | en | fr |
DOLFIN760 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
Compliance with the exclusion criteria is ensured in the first instance by the portfolio managers. Trades in financial instruments of affected issuers are provided with a warning in the portfolio management system. In a second instance, compliance is monitored by investment controlling. In the event of significant changes and in the course of the semi- annual update, an updated list of affected financial instruments is prepared. The list contains a date as of which these take effect. Existing positions that violate an exclusion criterion after the list has been updated must be sold within 30 days.
-
# Climate – CO2e3 reduction | Die Einhaltung der Ausschlusskriterien wird in erster Instanz von den Portfoliomanagerinnen und -managern sicher- gestellt. Trades in Finanzinstrumenten von betroffenen Emittenten werden im Portfoliomanagement System mit einer Warnung versehen. In zweiter Instanz wird die Einhaltung durch das Investmentcontrolling überwacht. Bei wesentli- chen Änderungen und jeweils im Zuge des halbjährlichen Updates wird eine aktualisierte Liste mit betroffenen Finan- zinstrumenten erstellt. Die Liste enthält ein Datum, ab wann diese in Kraft treten. Bestehende Positionen, welche nach Aktualisierung der Liste ein Ausschlusskriterium verletzen, müssen innerhalb von 30 Tagen veräussert werden.
-
# Klima – CO2e3-Reduktion | Compliance with the exclusion criteria is ensured in the first instance by the portfolio managers. Trades in financial instruments of affected issuers are provided with a warning in the portfolio management system. In a second instance, compliance is monitored by investment controlling. In the event of significant changes and in the course of the semi- annual update, an updated list of affected financial instruments is prepared. The list contains a date as of which these take effect. Existing positions that violate an exclusion criterion after the list has been updated must be sold within 30 days.
-
# Climate – CO2e3 reduction | en | de |
DOLFIN761 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# FACTEURS DE RISQUE
Risque de marché: Le risque de variation dans la valeur d’une position due à des facteurs de marché sous-jacents, notamment la performance globale des sociétés et la perception du marché par l’économie mondiale.
Risque d'illiquidité: Le risque que le Fonds puisse être incapable de vendre un investissement rapidement à sa juste valeur de marché, en cas de tension sur les marchés, sans impact significatif sur le prix des actifs. Dans ce cas, la valeur liquidative peut baisser plus rapidement et plus fortement.
Risque de crédit: Le risque que les émetteurs d’obligations ne puissent honorer le remboursement des intérêts ou rembourser leurs emprunts, résultant dans des pertes temporaires ou permanentes pour le Fonds.
Risque de taux d’intérêt: Le risque que des fluctuations des taux d’intérêt affectent la valeur des obligations à taux fixe.
Risque lié aux dérivés: Le Fonds est autorisé à utiliser certains types de produits dérivés (y compris certains instruments complexes). Cela peut renforcer considérablement l’effet de levier du Fonds, ce qui peut entraîner des fluctuations importantes dans la valeur de vos actions. Les investisseurs sont informés que le Fonds peut atteindre son objectif d’investissement en investissant principalement dans des Instruments financiers dérivés (IFD). Le recours à des IFD comporte certains risques d’investissement.
Risque lié aux marchés émergents: Les marchés émergents sont susceptibles de présenter un risque accru en raison d’un manque de structures, de protection et de stabilité financières, juridiques, sociales, politiques et économiques adéquates, sans oublier une situation fiscale incertaine pouvant conduire à une faible liquidité. La valeur liquidative du fonds peut connaître une volatilité de moyenne à élevée en raison d’une plus faible liquidité et de l'indisponibilité d’informations fiables, ainsi que du fait des politiques d’investissement ou des techniques de gestion de portefeuille du fonds.
Risque de contrepartie: Le risque qu’une contrepartie ne remplisse pas en temps et en heure son obligation de paiement dans le cadre d’un échange, d’un contrat ou de toute autre opération.
Risque opérationnel: Le risque de perte directe ou indirecte résultant de processus, personnels ou systèmes inadéquats ou défaillants, notamment lorsqu’ils se rapportent à la garde et à la protection des actifs contre des événements externes.
Risque de change: Les investisseurs qui souscrivent des titres dans une devise autre que la devise de référence du Fonds sont exposés au risque de change. Les fluctuations des taux de change peuvent avoir une incidence défavorable sur le retour sur investissement. Lorsque la performance passée est indiquée, celle-ci se base sur la classe d’actions à laquelle se réfère cette fiche d’information. Si la devise de cette catégorie d’actions diffère de celle de votre devise locale, soyez averti du fait que la performance indiquée peut baisser ou augmenter après conversion dans votre devise locale du fait des fluctuations du taux de change. | # CONSIDERACIONES EN CUANTO AL RIESGO
Riesgo de mercado: El riesgo de un cambio en el valor de una posición como resultado de factores subyacentes del mercado, incluido, entre otros, el rendimiento general de las empresas y la percepción del mercado de la economía global.
Riesgo de liquidez: El riesgo de que el Fondo no pueda vender una inversión fácilmente a su valor justo de mercado. En condiciones extremas del mercado, esto puede afectar a la capacidad del Fondo para satisfacer las solicitudes de reembolso previa solicitud.
Riesgo de crédito: El riesgo de que los emisores de bonos no cumplan con los reembolsos de intereses, o el reembolso de las deudas, lo que resulta en pérdidas temporales o permanentes para el Fondo.
Riesgo de tipo de interés: El riesgo de los movimientos del tipo de interés que afectan al valor de los bonos de tipo fijo.
Riesgo de derivados: El Fondo está autorizado a utilizar ciertos tipos de instrumentos financieros derivados (incluidos ciertos instrumentos complejos). Esto puede aumentar significativamente el apalancamiento del Fondo, lo que puede conllevar grandes variaciones en el valor de su acción. Los inversores deben tener en cuenta que el Fondo podrá alcanzar su objetivo de inversión invirtiendo principalmente en Instrumentos Financieros Derivados (“FDI”, por sus siglas en inglés). Existen ciertos riesgos de inversión relacionados con el uso de instrumentos financieros derivados.
Riesgo de mercados emergentes: Es probable que los mercados emergentes conlleven un riesgo mayor debido a la posible falta de estructuras financieras, legales, sociales, políticas y económicas adecuadas, protección y estabilidad, así como a posiciones fiscales inciertas que pueden conducir a una menor liquidez. El valor liquidativo del Fondo puede estar sujeto a volatilidad media o alta debido a una menor liquidez y a la disponibilidad de información fiable, así como a las políticas de inversión o técnicas de gestión de carteras del Fondo.
Riesgo de contraparte: El riesgo de que una contraparte no cumpla con su obligación de pago de una operación, contrato u otra transacción, en la fecha de vencimiento.
Riesgo operacional: El riesgo de pérdidas directas o indirectas como resultado de procesos, personas y sistemas inadecuados o fallidos, incluidos aquellos relacionados con la custodia de activos o eventos externos.
Riesgo de divisa: Los inversores que suscriben los valores en una moneda diferente a la moneda base del Fondo están expuestos al riesgo de divisa. Las fluctuaciones de los tipos de cambio pueden afectar a la rentabilidad de la inversión. Donde la rentabilidad histórica es mostrada se basa en la clase de acciones a la que se refiere esta ficha. Si la moneda de esta clase de acciones difiere de su moneda local, deberá tener en cuenta que, a causa de las fluctuaciones del tipo de cambio, la rentabilidad mostrada puede aumentar o disminuir si se convierte a su moneda local. | # FACTEURS DE RISQUE
Risque de marché: Le risque de variation dans la valeur d’une position due à des facteurs de marché sous-jacents, notamment la performance globale des sociétés et la perception du marché par l’économie mondiale.
Risque d'illiquidité: Le risque que le Fonds puisse être incapable de vendre un investissement rapidement à sa juste valeur de marché, en cas de tension sur les marchés, sans impact significatif sur le prix des actifs. Dans ce cas, la valeur liquidative peut baisser plus rapidement et plus fortement.
Risque de crédit: Le risque que les émetteurs d’obligations ne puissent honorer le remboursement des intérêts ou rembourser leurs emprunts, résultant dans des pertes temporaires ou permanentes pour le Fonds.
Risque de taux d’intérêt: Le risque que des fluctuations des taux d’intérêt affectent la valeur des obligations à taux fixe.
Risque lié aux dérivés: Le Fonds est autorisé à utiliser certains types de produits dérivés (y compris certains instruments complexes). Cela peut renforcer considérablement l’effet de levier du Fonds, ce qui peut entraîner des fluctuations importantes dans la valeur de vos actions. Les investisseurs sont informés que le Fonds peut atteindre son objectif d’investissement en investissant principalement dans des Instruments financiers dérivés (IFD). Le recours à des IFD comporte certains risques d’investissement.
Risque lié aux marchés émergents: Les marchés émergents sont susceptibles de présenter un risque accru en raison d’un manque de structures, de protection et de stabilité financières, juridiques, sociales, politiques et économiques adéquates, sans oublier une situation fiscale incertaine pouvant conduire à une faible liquidité. La valeur liquidative du fonds peut connaître une volatilité de moyenne à élevée en raison d’une plus faible liquidité et de l'indisponibilité d’informations fiables, ainsi que du fait des politiques d’investissement ou des techniques de gestion de portefeuille du fonds.
Risque de contrepartie: Le risque qu’une contrepartie ne remplisse pas en temps et en heure son obligation de paiement dans le cadre d’un échange, d’un contrat ou de toute autre opération.
Risque opérationnel: Le risque de perte directe ou indirecte résultant de processus, personnels ou systèmes inadéquats ou défaillants, notamment lorsqu’ils se rapportent à la garde et à la protection des actifs contre des événements externes.
Risque de change: Les investisseurs qui souscrivent des titres dans une devise autre que la devise de référence du Fonds sont exposés au risque de change. Les fluctuations des taux de change peuvent avoir une incidence défavorable sur le retour sur investissement. Lorsque la performance passée est indiquée, celle-ci se base sur la classe d’actions à laquelle se réfère cette fiche d’information. Si la devise de cette catégorie d’actions diffère de celle de votre devise locale, soyez averti du fait que la performance indiquée peut baisser ou augmenter après conversion dans votre devise locale du fait des fluctuations du taux de change. | fr | es |
DOLFIN762 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
- : at the discretion of the Board of Directors
- : absolute performance fee, hurdle rate of +7 % p.a., as defined under section 9.4
- : see further details under section 11. Fees and expenses
-
## Fees and expenses | - : à la discrétion du Conseil d’administration
- : commission de surperformance absolue, hurdle rate de +7 % p.a., tel que défini à l’article 9.4
- : voir plus de détails à l’article 11. Dépenses et frais
-
## Dépenses et frais | - : at the discretion of the Board of Directors
- : absolute performance fee, hurdle rate of +7 % p.a., as defined under section 9.4
- : see further details under section 11. Fees and expenses
-
## Fees and expenses | en | fr |
DOLFIN763 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
- the market organised by the International Capital Markets Association;
- the UK market (i) conducted by banks and other institutions regulated by the Financial Conduct Authority (FCA) and subject to the Inter-Professional Conduct provisions of the FSA’s Market Conduct Sourcebook and (ii) in non-investment products which are subject to the guidance contained in the “Non-Investment Product Code” drawn up by the participants in the London market, including the FSA and the Bank of England (formerly known as “The Grey Paper”);
- (a) NASDAQ in the United States, (b) the market in the US government securities conducted by the primary dealers regulated by the Federal Reserve Bank of New York; (c) the over-the-counter market in the United States conducted by primary and secondary dealers regulated by the Securities and Exchange Commission and the National Association of Securities Dealers and by banking institutions regulated by the US Controller of Currency, the Federal Reserve System or Federal Deposit Insurance Corporation;
- (a) NASDAQ Japan, (b) the over-the-counter market in Japan regulated by the Securities Dealers Association of Japan, and (c) Market of the High-Growth and Emerging Stocks (“MOTHERS”)
- the alternative investment markets in the United Kingdom regulated and operated by the London Stock Exchange;
- the Hong Kong Growth Enterprise Market (“GEM”);
- TAISDAQ
- the Stock Exchange of Singapore Dealing and Automated Quotation (“SESDAQ”)
- the Taiwan Innovative Growing Entrepreneurs Exchange (“TIGER”)
- the Korean Securities Dealers Automated Quotation (“KOSDAQ”)
- the French Market for Titres de Créances Négotiables (over the counter market in negotiable debt instruments)
- the over the counter market in Canadian Government Bonds, regulated by the Investment Dealers Association of Canada
- EASDAQ (European Association of Securities Dealers Automated Quotation) | - der von der International Capital Markets Association organisierte Markt;
- der (i) von Banken und sonstigen Institutionen betriebene britische Markt, der unter der Aufsicht der Financial Conduct Authority (FCA) steht und den Bestimmungen für den interprofessionellen Verkehr des Market Conduct Sourcebook der FSA unterliegt und (ii) der Markt für Nichtanlageprodukte, der den von den Beteiligten des Londoner Markts einschließlich der FCA und der Bank of England im „Non Investment Product Code“ (vormals als „Grey Paper“ bekannt) aufgestellten Richtlinien unterliegt;
- (a) NASDAQ in den Vereinigten Staaten, (b) der von den von der Federal Reserve Bank of New York regulierten Primärhändlern geführte Markt für US-Staatstitel; (c) der von durch die Securities and Exchange Commission und die National Association of Securities Dealers regulierten Primär- und Sekundärhändlern und von durch den US Controller of Currency, das Federal Reserve System oder die Federal Deposit Insurance Corporation regulierten Bankinstituten geführte OTC-Markt in den Vereinigten Staaten;
- (a) NASDAQ Japan, (b) der von der Securities Dealers Association of Japan regulierte OTC-Markt in Japan, und (c) der Market of the High-Growth and Emerging Stocks („MOTHERS“)
- die von der London Stock Exchange regulierten und betriebenen alternativen Investmentmärkte in Großbritannien;
- der Hong Kong Growth Enterprise Market („GEM“);
- TAISDAQ
- die Stock Exchange of Singapore Dealing and Automated Quotation („SESDAQ“)
- die Taiwan Innovative Growing Entrepreneurs Exchange („TIGER“)
- die Korean Securities Dealers Automated Quotation („KOSDAQ“)
- der französische OTC-Markt für begebbare Schuldtitel (Titres de Créances Négotiables)
- der OTC-Markt für kanadische Staatsanleihen, der unter der Aufsicht der Investment Dealers Association of Canada steht
- EASDAQ (European Association of Securities Dealers Automated Quotation) | - the market organised by the International Capital Markets Association;
- the UK market (i) conducted by banks and other institutions regulated by the Financial Conduct Authority (FCA) and subject to the Inter-Professional Conduct provisions of the FSA’s Market Conduct Sourcebook and (ii) in non-investment products which are subject to the guidance contained in the “Non-Investment Product Code” drawn up by the participants in the London market, including the FSA and the Bank of England (formerly known as “The Grey Paper”);
- (a) NASDAQ in the United States, (b) the market in the US government securities conducted by the primary dealers regulated by the Federal Reserve Bank of New York; (c) the over-the-counter market in the United States conducted by primary and secondary dealers regulated by the Securities and Exchange Commission and the National Association of Securities Dealers and by banking institutions regulated by the US Controller of Currency, the Federal Reserve System or Federal Deposit Insurance Corporation;
- (a) NASDAQ Japan, (b) the over-the-counter market in Japan regulated by the Securities Dealers Association of Japan, and (c) Market of the High-Growth and Emerging Stocks (“MOTHERS”)
- the alternative investment markets in the United Kingdom regulated and operated by the London Stock Exchange;
- the Hong Kong Growth Enterprise Market (“GEM”);
- TAISDAQ
- the Stock Exchange of Singapore Dealing and Automated Quotation (“SESDAQ”)
- the Taiwan Innovative Growing Entrepreneurs Exchange (“TIGER”)
- the Korean Securities Dealers Automated Quotation (“KOSDAQ”)
- the French Market for Titres de Créances Négotiables (over the counter market in negotiable debt instruments)
- the over the counter market in Canadian Government Bonds, regulated by the Investment Dealers Association of Canada
- EASDAQ (European Association of Securities Dealers Automated Quotation) | en | de |
DOLFIN764 | 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 | 0.00% |
| Switching charge | 0.50% |
| 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 | 1.71% |
| Charges taken from the fund under certain specific conditions |
| Performance fee | Calculation Methodology: 10.00% of the outperformance of the High Water Mark or of the prorated Secured Overnight Financing Rate (SOFR) rate of return, whichever is the lower. Calculation period is based on the same period as the ongoing charge. Performance fee charged in the last Calculation Period: 1.22%. | | | Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión |
| --- |
| Gastos de entrada | 5.00% |
| Gastos de salida | 0.00% |
| Comisión de canje | 0.50% |
| 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 | 1.71% |
| Gastos detraídos del fondo en determinadas condiciones específicas |
| Comisión de rentabilidad | Metodología de cálculo: 10.00% de la diferencia positiva con la High Water Mark o del tipo de rentabilidad del Secured Overnight Financing Rate (SOFR) prorrateado, de ambos valores el más bajo. El Periodo de cálculo se basa en el mismo periodo utilizado para la cifra de gastos corrientes. Comisión de rentabilidad percibida en el último Periodo de cálculo: 1.22%. | | | One-off charges taken before or after you invest |
| --- |
| Entry charge | 5.00% |
| Exit charge | 0.00% |
| Switching charge | 0.50% |
| 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 | 1.71% |
| Charges taken from the fund under certain specific conditions |
| Performance fee | Calculation Methodology: 10.00% of the outperformance of the High Water Mark or of the prorated Secured Overnight Financing Rate (SOFR) rate of return, whichever is the lower. Calculation period is based on the same period as the ongoing charge. Performance fee charged in the last Calculation Period: 1.22%. | | en | es |
DOLFIN765 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# PROVIDED THAT:-
- The repurchase of shares pursuant to this Clause 12 shall be made on a Dealing Day in respect of requests received by the Company or its authorised agent on or prior to the Dealing Deadline for that Dealing Day.
- Any such request received after the Dealing Deadline for a Dealing Day may be carried forward to the next following Dealing Deadline.
- If the determination of the Net Asset Value of the relevant Fund is suspended on any Dealing Day by reason of a declaration by the Directors pursuant to Clause 17 hereof, an Applicant may withdraw his request to have his shares repurchased pursuant to this Clause 12. If the request is not so withdrawn the Company shall be at liberty to repurchase the shares on the Dealing Day next following the end of the suspension.
- Subject as aforesaid and to the discretion of the Directors, an Applicant shall not be entitled to withdraw a request duly made in accordance with this Clause 12.
- The Company may retain a sufficient portion of the amount payable to the Applicant in respect of the repurchase to pay any taxation payable to the Revenue Commissioners in Ireland in respect of the repurchase of the shares.
- Any amount payable to the Applicant in connection with the repurchase of shares shall, at the risk and cost of the Applicant, be paid in the same currency as that in which the shares are designated or in such other currency as the Directors shall determine. Any such amount may, at the option of the Directors, (but at the risk and cost of the Applicant) be remitted by or on behalf of the Company by electronic or telegraphic transfer to the bank account specified by the Applicant not later than the relevant Settlement Date. In all other instances any such amount shall be sent by post in the form of a negotiable instrument at the Applicant's risk by or on behalf of the Company to the Applicant not later than the relevant Settlement Date. If the amount to be paid by the Company as aforesaid shall not be expressed in the currency in which the shares which the Company has repurchased were designated then the rate of exchange between that currency and the currency agreed for payment shall be such rate as the Directors shall consider appropriate. The cost of conversion (if any) shall be debited from the converted payment. The certificate of the Directors as to the conversion rate applicable and as to the cost of conversion shall be conclusive andbinding on all persons.
- Subject to written instructions from the Applicant to the Company (or its authorised agent) directing otherwise, which the Company (or its authorised agent) may require to be verified or otherwise supported by additional documentation, the Company (or its authorised agent) shall pay the proceeds of repurchase to the Applicant.
- If requested, the Directors may, in their absolute discretion and subject to the prior approval of the Depositary, agree to designate additional Dealing Days and Valuation Points for the repurchase of shares relating to any Fund which will be open to all Holders.
- The repurchase of shares under the provisions of this Clause 12 shall be deemed to be effected immediately after the Valuation Point for the relevant Dealing Day. Shares repurchased in accordance with the provisions of this Clause 12 shall be deemed to cease to be in issue at the close of business on the Dealing Day on which they are repurchased.
- Upon the repurchase of a share being effected, the Applicant shall cease to be entitled to any rights in respect thereof (excepting always the right to receive a dividend which has been declared in respect thereof prior to such repurchase being effected) and accordingly his name shall be removed from the Register with respect thereto and the shares shall be treated as cancelled and the amount of issued share capital in respect of such class of shares shall be reduced accordingly.
- Upon a repurchase of shares by an authorised participant, such transaction will take place on a DVP basis at the relevant clearing system. The authorised participant will arrange for the delivery of shares to the Depositary's (or its delegate's) Depot Account who, in turn, will arrange for the simultaneous credit of the redeeming investor’s Depot Account with the redemption proceeds.
-
## Repurchase price of shares
- The Repurchase Price per share of the relevant class shall be an amount as determined by the Directors on the relevant Dealing Day referred to in Clause 12.1.1 above by:
- determining that proportion of the Net Asset Value of the relevant Fund which is attributable to the relevant class of shares as at the Valuation Point for the relevant Dealing Day and deducting thereto such sum (if any) as the Directors may consider represents the appropriate provision for the Duties and Charges which would have been incurred on the assumption that all the Investments held by the Company as at that Valuation Point had been sold at that Valuation Point at prices equal to their respective values as at that Valuation Point;
- where the class of shares is a Hedged Currency Share Class, adding to or deducting from (as the case may be) the sum calculated in accordance with 13.1.1 above the costs and gains/losses of any currency hedging transaction effected in respect of that class;
- dividing the sum calculated in accordance with paragraph 13.1.1 above by the number of shares of the relevant class in issue or deemed to be in issue in the relevant Fund at the Valuation Point for the relevant Dealing Day;
- deducting from the resulting sum a provision of such amount (if any) as the Directors may consider appropriate in respect of Duties and Charges of any assets or Investments; and
- rounding the amount so determined to a maximum of four decimal places of the unit of the currency of the shares (“unit” for such purposes being the smallest fraction of the relevant currency which is legal tender in the country of issue of that currency).
- The Directors may on any Dealing Day require an Applicant to pay to the Company or any ofits appointees or as any of them may direct, for its or their absolute use and benefit, a repurchase charge in respect of each share to be repurchased of not more than 4 per cent of the Repurchase Price of a share of the relevant class prevailing on that Dealing Day. The amount of any such charge may be deducted from the amount to be paid by the Company to the Applicant in respect of the shares to be repurchased. The Directors may on any Dealing Day differentiate between Applicants as to the amount of the repurchase charge required to be paid to the Company, or its appointees or as they may direct and as to the amount of repurchase charge to be levied on each class of share (subject to the maximum aforesaid).
- Such portion of the Repurchase Price of any shares repurchased on a Dealing Day (except a Dealing Day which is a record day for the declaration of a dividend) as the Directors in their absolute discretion consider appropriate shall be deemed to be a distribution to the relevant Applicant of the proportion of the undistributed net revenue accrued to the relevant Fund up to such Dealing Day attributable to the shares in respect of which such Repurchase Price is payable.
- The Directors may add to the Repurchase Price for any shares an amount in respect of any provision made for a performance fee payable to any investment manager/adviser in respect of the Fund which has not been fully applied.
- Where any tax is payable to the Irish tax authorities in respect of a repurchase of Shares by a Holder who is or is deemed to be an Irish Taxable Person or is acting on behalf of such a person, the Repurchase Price shall be reduced by an amount equal to such tax which shall be paid by or on behalf of the Company to the authorities.
- In calculating the Repurchase Price, the Directors may on any Dealing Day when net repurchases exceed a certain percentage (usually 1%) of the Net Asset Value adjust the Repurchase Price by deducting an anti-dilution levy to cover dealing costs and to preserve the value of the underlying assets of a Fund.
-
## Limitations on repurchase
14.1. In circumstances where repurchase requests on any Dealing Day are for more than ten per cent of the Net Asset Value of shares of any Fund in issue at the Valuation Point for that Dealing Day, the Directors shall be at liberty to scale down the number of shares to be repurchased in response to each request pro rata to such extent as may be necessary to ensure that the foregoing limit is not exceeded and may carry forward for repurchase to the next following Dealing Day the balance of each request and so on to each succeeding Dealing Day until each request has been dealt with in full. | # SOUS RÉSERVE QUE :
- Le rachat des actions en vertu de la Clause 12 soit effectué un Jour de négociation au regard des demandes reçues par la Société ou son agent autorisé avant l'Échéance de négociation dudit Jour de négociation.
- Les demandes reçues après l’échéance d’un Jour de négociation seront traitées à l'Échéance de négociation suivante.
- Lorsque la détermination de la Valeur liquidative dudit Fonds est suspendue un Jour de négociation en raison d'une déclaration des Administrateurs en vertu de la Clause 17 aux présentes, un Demandeur sera habilité à retirer sa demande de rachat de ses actions au titre de la Clause 12. Si la demande n’est pas retirée, la Société aura toute liberté de racheter les actions le Jour de négociation suivant la levée de la suspension.
- Sous réserve de ce qui précède et à la discrétion des Administrateurs, un demandeur ne saurait être habilité à révoquer ou retirer une demande dûment effectuée au titre de la Clause 12.
- La Société pourra retenir une part suffisante sur le montant payable au demandeur relativement au rachat afin d’acquitter l’impôt dû aux Autorités fiscales d’Irlande au titre du rachat des actions.
- Les montants payables au Demandeur relativement au rachat d’actions seront, aux risques et frais du Demandeur, libellés dans la devise de base des actions concernées ou dans toute autre devise que les Administrateurs auront jugée appropriée. Ces montants pourront, à la discrétion des Administrateurs, (mais aux risques et frais exclusifs du demandeur) être remis par ou pour le compte de la Société par transfert bancaire électronique ou télégraphique sur le compte désigné par le demandeur au plus tard à la date de règlement spécifiée. Dans toutes les autres circonstances, ces montants seront adressés par courrier postal sous forme d’instrument négociable aux seuls risques du demandeur par ou pour le compte de la Société au demandeur auplus tard à la date de règlement spécifiée. Si le montant susmentionné dû par la Société ne devait pas être exprimé dans la devise des actions rachetées par la Société, le taux de conversion entre cette devise et la devise convenue pour le paiement constituera le taux que les Administrateurs jugeront approprié. Le coût de conversion (le cas échéant) sera débité du paiement converti. La certification des Administrateurs relative au taux de conversion applicable et au coût de conversion sera probante et obligatoire pour tous.
- Sous réserve que les instructions écrites par le demandeur à la Société (ou son agent autorisé) n’en disposent autrement, ce pour quoi la Société (ou son représentant autorisé) sera habilitée à contrôler et à requérir un complément d’informations, la Société (ou son représentant autorisé) versera les revenus du rachat au demandeur.
- Si nécessaire, les Administrateurs pourront, à leur seule discrétion et sous réserve de l’accord préalable du Dépositaire, convenir de désigner des Jours de négociation et des Points de valorisation supplémentaires pour le rachat d’actions relativement aux Fonds, qui seront ouverts à tous les Détenteurs.
- Le rachat des actions au titre des dispositions de la Clause 12 sera réputé être effectué immédiatement après le Point de valorisation du Jour de négociation donné. Les actions rachetées au titre des dispositions de la présente Clause 12 seront réputées ne plus être émises à la clôture du Jour de négociation auquel elles ont été rachetées.
- Après que le rachat des actions soit effectué, le demandeur cessera d’être habilité aux droits prévus aux présentes (sauf au droit de percevoir un dividende déclaré en vertu des présentes et antérieur au remboursement des actions) et en conséquence, son nom sera supprimé du Registre, lesdites actions seront traitées comme étant annulées et le montant du capital social émis au regard de ladite catégorie sera réduit en conséquence.
- En cas de rachat d’actions effectué par un participant agréé, la transaction sera réalisée sur une base de règlement-livraison dans le système de compensation concerné. Le participant agréé organisera la livraison des actions sur le Compte de dépôt du Dépositaire (ou de son délégué), lequel créditera simultanément en retour les produits du rachat sur le Compte de dépôt de l’investisseur concerné.
-
## Prix de rachat des actions
- Le prix de rachat par action d’une catégorie donnée sera le montant déterminé par les Administrateurs au Jour de négociation mentionné à la Clause 12.1.1 ci-dessus par :
- l’estimation de la part de la Valeur liquidative du Fonds correspondant attribuable à la catégorie correspondante des actions au Point de valorisation au Jour de négociation, et la déduction des sommes (s’il y a lieu) que les Administrateurs peuvent considérer représenter la provision nécessaire pour les droits et charges qui auraient été encourus sur le principe que tous les investissements détenus par la Société au Point de valorisation ont été vendus à ce Point de valorisation à des prix équivalents à leurs valeurs respectives au Point de valorisation ;
- lorsque la catégorie d’actions est couverte en devise, en ajoutant ou en déduisant (suivant le cas) de la somme calculée conformément à l’alinéa 13.1.1 ci-dessus les coûts et bénéfices/pertes des transactions de couverture effectuées au regard de cette catégorie ;
- la division du montant calculé conformément au paragraphe 13.1.1 ci-dessus par le nombre d’actions de la catégorie correspondante émise ou réputée émise dans le Fonds correspondant au Point de valorisation du Jour de négociation ; et
- la déduction d’une provision sur les sommes résultantes (s’il y a lieu) que les Administrateurs pourront considérer nécessaire au regard des Droits et charges sur les actifs ou investissements ; et
- l’arrondi du montant ainsi déterminé à quatre décimales au maximum de l’unité de la devise des actions (« unité » à ces fins correspondant à la plus petite fraction de ladevise correspondante, laquelle constitue monnaie légale dans le pays d’émission de ladite devise).
- Les Administrateurs pourront requérir quel que soit le Jour de négociation qu’un Demandeur paye à la Société ou à ses délégués ou autres, pour leur ou leurs utilisations et bénéfices absolus, des frais de rachat pour chaque action à racheter qui ne pourront excéder au regard de chaque action à racheter un montant égal à 4 pour cent du Prix de rachat d’une action de la catégorie correspondante prévalant ledit Jour de négociation. Le montant de ces frais pourra être déduit du montant dû par la Société au Demandeur au regard des actions à racheter. Les Administrateurs pourront, quel que soit le Jour de négociation, différencier les Demandeurs sur la base des frais de rachat à payer à la Société ou à ses délégués ou autrement, et sur la base du montant prélevé sur chaque catégorie d’action (sous réserve du maximum indiqué ci-dessus).
- Cette part du prix de rachat des actions à racheter un Jour de négociation donné (excepté un Jour de négociation correspondant à une déclaration de dividende) que les Administrateurs jugeront appropriée sera réputée une distribution au demandeur concerné de la proportion des revenus nets cumulés non distribués du Fonds correspondant jusqu’audit Jour de négociation attribuable aux actions au regard desquelles ledit prix de rachat est payable.
- Les Administrateurs pourront ajouter au prix de rachat des actions un montant au titre de provision pour les commissions de performance payables aux gestionnaires et conseillers d’investissement au regard du Fonds qui n’a pas été entièrement affecté.
- Lorsque des impôts sont dus aux autorités fiscales irlandaises au regard d’un rachat d’Actions par un Détenteur qui est ou réputé être imposable en Irlande ou agissant pour le compte d’une personne imposable en Irlande, le Prix de rachat sera réduit d’un montant égal audit impôt, lequel sera réglé par ou pour le compte de la Société aux autorités fiscales.
- Lors du calcul du prix de rachat, les Administrateurs pourront un Jour de négociation lorsque les rachats nets excèdent un certain pourcentage (habituellement 1 %) de la Valeur liquidative, ajuster le prix de rachat par déduction d’un droit anti-dilution afin de couvrir les coûts de négociation et de préserver la valeur des actifs sous-jacents du Fonds.
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## Restrictions de rachat
14.1. Lorsque les demandes de rachat d’un Jour de négociation sont supérieures à dix pour cent de la Valeur liquidative nette des actions d’un Fonds en émission au Point de valorisation dudit Jour de négociation, les Administrateurs auront toute liberté pour réduire le nombre des actions à racheter en réponse à chaque demande au prorata et dans la mesure nécessaire pour garantir que la restriction précitée n’est pas dépassée et pourront reporter le solde de chaque demande de rachat au Jour de négociation suivant et ainsi de suite jusqu’à ce que toutes les demandes aient été intégralement exécutées. | # PROVIDED THAT:-
- The repurchase of shares pursuant to this Clause 12 shall be made on a Dealing Day in respect of requests received by the Company or its authorised agent on or prior to the Dealing Deadline for that Dealing Day.
- Any such request received after the Dealing Deadline for a Dealing Day may be carried forward to the next following Dealing Deadline.
- If the determination of the Net Asset Value of the relevant Fund is suspended on any Dealing Day by reason of a declaration by the Directors pursuant to Clause 17 hereof, an Applicant may withdraw his request to have his shares repurchased pursuant to this Clause 12. If the request is not so withdrawn the Company shall be at liberty to repurchase the shares on the Dealing Day next following the end of the suspension.
- Subject as aforesaid and to the discretion of the Directors, an Applicant shall not be entitled to withdraw a request duly made in accordance with this Clause 12.
- The Company may retain a sufficient portion of the amount payable to the Applicant in respect of the repurchase to pay any taxation payable to the Revenue Commissioners in Ireland in respect of the repurchase of the shares.
- Any amount payable to the Applicant in connection with the repurchase of shares shall, at the risk and cost of the Applicant, be paid in the same currency as that in which the shares are designated or in such other currency as the Directors shall determine. Any such amount may, at the option of the Directors, (but at the risk and cost of the Applicant) be remitted by or on behalf of the Company by electronic or telegraphic transfer to the bank account specified by the Applicant not later than the relevant Settlement Date. In all other instances any such amount shall be sent by post in the form of a negotiable instrument at the Applicant's risk by or on behalf of the Company to the Applicant not later than the relevant Settlement Date. If the amount to be paid by the Company as aforesaid shall not be expressed in the currency in which the shares which the Company has repurchased were designated then the rate of exchange between that currency and the currency agreed for payment shall be such rate as the Directors shall consider appropriate. The cost of conversion (if any) shall be debited from the converted payment. The certificate of the Directors as to the conversion rate applicable and as to the cost of conversion shall be conclusive andbinding on all persons.
- Subject to written instructions from the Applicant to the Company (or its authorised agent) directing otherwise, which the Company (or its authorised agent) may require to be verified or otherwise supported by additional documentation, the Company (or its authorised agent) shall pay the proceeds of repurchase to the Applicant.
- If requested, the Directors may, in their absolute discretion and subject to the prior approval of the Depositary, agree to designate additional Dealing Days and Valuation Points for the repurchase of shares relating to any Fund which will be open to all Holders.
- The repurchase of shares under the provisions of this Clause 12 shall be deemed to be effected immediately after the Valuation Point for the relevant Dealing Day. Shares repurchased in accordance with the provisions of this Clause 12 shall be deemed to cease to be in issue at the close of business on the Dealing Day on which they are repurchased.
- Upon the repurchase of a share being effected, the Applicant shall cease to be entitled to any rights in respect thereof (excepting always the right to receive a dividend which has been declared in respect thereof prior to such repurchase being effected) and accordingly his name shall be removed from the Register with respect thereto and the shares shall be treated as cancelled and the amount of issued share capital in respect of such class of shares shall be reduced accordingly.
- Upon a repurchase of shares by an authorised participant, such transaction will take place on a DVP basis at the relevant clearing system. The authorised participant will arrange for the delivery of shares to the Depositary's (or its delegate's) Depot Account who, in turn, will arrange for the simultaneous credit of the redeeming investor’s Depot Account with the redemption proceeds.
-
## Repurchase price of shares
- The Repurchase Price per share of the relevant class shall be an amount as determined by the Directors on the relevant Dealing Day referred to in Clause 12.1.1 above by:
- determining that proportion of the Net Asset Value of the relevant Fund which is attributable to the relevant class of shares as at the Valuation Point for the relevant Dealing Day and deducting thereto such sum (if any) as the Directors may consider represents the appropriate provision for the Duties and Charges which would have been incurred on the assumption that all the Investments held by the Company as at that Valuation Point had been sold at that Valuation Point at prices equal to their respective values as at that Valuation Point;
- where the class of shares is a Hedged Currency Share Class, adding to or deducting from (as the case may be) the sum calculated in accordance with 13.1.1 above the costs and gains/losses of any currency hedging transaction effected in respect of that class;
- dividing the sum calculated in accordance with paragraph 13.1.1 above by the number of shares of the relevant class in issue or deemed to be in issue in the relevant Fund at the Valuation Point for the relevant Dealing Day;
- deducting from the resulting sum a provision of such amount (if any) as the Directors may consider appropriate in respect of Duties and Charges of any assets or Investments; and
- rounding the amount so determined to a maximum of four decimal places of the unit of the currency of the shares (“unit” for such purposes being the smallest fraction of the relevant currency which is legal tender in the country of issue of that currency).
- The Directors may on any Dealing Day require an Applicant to pay to the Company or any ofits appointees or as any of them may direct, for its or their absolute use and benefit, a repurchase charge in respect of each share to be repurchased of not more than 4 per cent of the Repurchase Price of a share of the relevant class prevailing on that Dealing Day. The amount of any such charge may be deducted from the amount to be paid by the Company to the Applicant in respect of the shares to be repurchased. The Directors may on any Dealing Day differentiate between Applicants as to the amount of the repurchase charge required to be paid to the Company, or its appointees or as they may direct and as to the amount of repurchase charge to be levied on each class of share (subject to the maximum aforesaid).
- Such portion of the Repurchase Price of any shares repurchased on a Dealing Day (except a Dealing Day which is a record day for the declaration of a dividend) as the Directors in their absolute discretion consider appropriate shall be deemed to be a distribution to the relevant Applicant of the proportion of the undistributed net revenue accrued to the relevant Fund up to such Dealing Day attributable to the shares in respect of which such Repurchase Price is payable.
- The Directors may add to the Repurchase Price for any shares an amount in respect of any provision made for a performance fee payable to any investment manager/adviser in respect of the Fund which has not been fully applied.
- Where any tax is payable to the Irish tax authorities in respect of a repurchase of Shares by a Holder who is or is deemed to be an Irish Taxable Person or is acting on behalf of such a person, the Repurchase Price shall be reduced by an amount equal to such tax which shall be paid by or on behalf of the Company to the authorities.
- In calculating the Repurchase Price, the Directors may on any Dealing Day when net repurchases exceed a certain percentage (usually 1%) of the Net Asset Value adjust the Repurchase Price by deducting an anti-dilution levy to cover dealing costs and to preserve the value of the underlying assets of a Fund.
-
## Limitations on repurchase
14.1. In circumstances where repurchase requests on any Dealing Day are for more than ten per cent of the Net Asset Value of shares of any Fund in issue at the Valuation Point for that Dealing Day, the Directors shall be at liberty to scale down the number of shares to be repurchased in response to each request pro rata to such extent as may be necessary to ensure that the foregoing limit is not exceeded and may carry forward for repurchase to the next following Dealing Day the balance of each request and so on to each succeeding Dealing Day until each request has been dealt with in full. | en | fr |
DOLFIN766 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
Operating and management charges encompass all recurring operating costs incurred by the SPPICAV, excluding costs for operating its real estate assets, performance fees and transaction fees. They are capped at 2.1% per annum of the SPPICAV’s net assets, at the current rate of VAT.
-
###### Remuneration of the Management Company | Les frais de fonctionnement et de gestion recouvrent l'ensemble des frais supportés de manière récurrente par la SPPICAV afin d'en assurer le fonctionnement à l'exclusion des frais liés à l'exploitation immobilière, des commissions de surperformance et des frais et commissions liés aux opérations de transaction. Ils représentent un montant maximum de 2,1% au taux de TVA en vigueur, annuel de l’actif net de la SPPICAV.
-
#### Rémunération de la Société de Gestion | Operating and management charges encompass all recurring operating costs incurred by the SPPICAV, excluding costs for operating its real estate assets, performance fees and transaction fees. They are capped at 2.1% per annum of the SPPICAV’s net assets, at the current rate of VAT.
-
###### Remuneration of the Management Company | en | fr |
DOLFIN767 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Frais du fonds Performance passée
### Frais ponctuels prélevés avant ou après investissement
### Frais d’entrée Aucun
### Le pourcentage indiqué est le maximum pouvant être prélevé sur votre capital avant que celui-ci ne soit investi ou avant que le revenu de votre investissement ne vous soit distribué.
### Frais prélevés par le fonds sur une année
### Frais de sortie Aucun
### Frais courants 0,510%
### Frais prélevés par le fonds dans certaines circonstances
### Commission de performance Aucune
- Les frais que vous acquittez servent à couvrir les coûts d’exploitation du fonds, y compris les coûts de commercialisation et de distribution. Ces frais réduisent la croissance potentielle de votre investissement.
- Le montant des frais courants correspond à une estimation des charges pour la première année d’existence de la catégorie.
- Les frais de gestion annuels sont prélevés sur le revenu.
### Pour plus d’informations sur les frais, veuillez consulter le prospectus du fonds, lequel est disponible sur www.artemisfunds.com ou www.fundinfo.com.
- La performance passée est indiquée après déduction de tous les frais hormis les coûts d’achats ou de ventes d’actions du fonds supportés par les investisseurs.
- La performance passée du fonds ne préjugent en rien de ses performances futures.
- La performance est calculée en dollar américain.
- Date de lancement du fonds : 19 novembre 2019.
- Date de lancement de la Catégorie : 15 février 2022. | # Gastos del fondo Rentabilidad histórica
### Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión
### Gastos de entrada Ninguno
### Este es el porcentaje 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 de salida Ninguno
### Gastos corrientes 0,510%
### Gastos detraídos del fondo en determinadas condiciones específicas
### Comisión de rentabilidad Ninguna
- Los gastos que usted soporta están destinados a sufragar los costes de funcionamiento del fondo, incluidos los costes de comercialización y distribución. Los gastos reducen el potencial de crecimiento de su inversión.
- La cifra de gastos corrientes es una estimación de los gastos del primer año de existencia de la clase.
- Los gastos de gestión anuales se detraen de los ingresos.
### Para obtener más información sobre gastos, consulte el folleto del Fondo, que está disponible en www.artemisfunds.com o www.fundinfo.com.
- La rentabilidad histórica se muestra con todos los gastos descontados, salvo por los costes de suscripción o reembolso incurridos por el inversor.
- Las rentabilidades pasadas del fondo no son indicativas de sus resultados futuros.
- La rentabilidad se calcula en dólares estadounidenses.
- Fecha de lanzamiento del fondo: 19 de noviembre de 2019.
- Fecha de lanzamiento de la clase: 15 de febrero de 2022. | # Frais du fonds Performance passée
### Frais ponctuels prélevés avant ou après investissement
### Frais d’entrée Aucun
### Le pourcentage indiqué est le maximum pouvant être prélevé sur votre capital avant que celui-ci ne soit investi ou avant que le revenu de votre investissement ne vous soit distribué.
### Frais prélevés par le fonds sur une année
### Frais de sortie Aucun
### Frais courants 0,510%
### Frais prélevés par le fonds dans certaines circonstances
### Commission de performance Aucune
- Les frais que vous acquittez servent à couvrir les coûts d’exploitation du fonds, y compris les coûts de commercialisation et de distribution. Ces frais réduisent la croissance potentielle de votre investissement.
- Le montant des frais courants correspond à une estimation des charges pour la première année d’existence de la catégorie.
- Les frais de gestion annuels sont prélevés sur le revenu.
### Pour plus d’informations sur les frais, veuillez consulter le prospectus du fonds, lequel est disponible sur www.artemisfunds.com ou www.fundinfo.com.
- La performance passée est indiquée après déduction de tous les frais hormis les coûts d’achats ou de ventes d’actions du fonds supportés par les investisseurs.
- La performance passée du fonds ne préjugent en rien de ses performances futures.
- La performance est calculée en dollar américain.
- Date de lancement du fonds : 19 novembre 2019.
- Date de lancement de la Catégorie : 15 février 2022. | fr | es |
DOLFIN768 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
#### Report by the Réviseur d'entreprises agréé
To the unitholders of Swisscanto (LU) Portfolio Fund
Audit opinion
We have audited the annual financial statements of Swisscanto (LU) Portfolio Fund and each of its sub-funds (the "Fund"), comprising the statement of net investment portfolio as at 31 March 2022, the income and expense statement and other changes in net assets for the financial year ending on this date, as well as the notes with a summary of significant accounting policies.
In our opinion, the accompanying annual financial statements give a true and fair view of the assets and the financial position of the Fund and its sub-funds as at 31 March 2022, as well as its income and the development of its net assets for the financial year ending on this date, in compliance with the legal provisions and regulations applicable in Luxembourg for the preparation of annual financial statements.
Basis for our audit opinion
We conducted our audit in accordance with the Law of 23 July 2016 governing the audit profession and according to the International Standards on Auditing (ISA) adopted by the Commission de Surveillance du Secteur Financier ("CSSF") for Luxembourg. Our responsibilities under the Law of 23 July 2016 and the ISA standards are described in more detail in the section "Responsibility of the Réviseur d'entreprises agréé for the audit of the annual financial statements." We are also independent of the Fund in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) adopted by the CSSF for Luxembourg together with the ethical requirements that are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Other information
The Management Company's Board of Directors is responsible for the other information. Other information includes the information contained in the annual report, but does not include the financial statements or our Report by the Réviseur d'entreprises agréé on the annual financial statements.
Our audit opinion on the annual financial statements does not cover other information and we do not give any kind of assurance concerning this information.
In connection with our audit of the annual financial statements, it is our responsibility to read the other information and thereby assess whether there is any material discrepancy between this information and the annual financial statements or with the findings of our audit, or whether the other information appears to contain material misstatements. If, on the basis of our work, we conclude that other information contains material misstatements, we are obliged to report this. We have nothing to report in this respect. | #### Rapport du Réviseur d’entreprises agréé
Aux détenteurs de parts du fonds Swisscanto (LU) Portfolio Fund
Opinion d’audit
Nous avons publié les états financiers du fonds Swisscanto (LU) Portfolio Fund et de chacun de ses compartiments (le « Fonds ») - comprenant le bilan et le portefeuille-titres au 31 mars 2022, le compte de résultats et d’autres variations des actifs nets pour l’exercice clos à cette date, ainsi que des notes présentant un résumé des principales méthodes comptables.
À notre avis, les états financiers ci-joints donnent une image sincère et fidèle des actifs et de la situation financière du Fonds et de chacun de ses compartiments au 31 mars 2022, ainsi que des résultats et de l’évolution des actifs nets du Fonds pour l’exercice clos à cette date, conformément aux exigences légales et réglementaires relatives à l’établissement et à la présentation des états financiers annuels, applicables au Luxembourg.
Fondement de l’opinion d’audit
Nous avons effectué notre audit conformément à la loi du 23 juillet 2016 relative à la profession de l’audit et aux normes internationales d’audit (« ISA ») adoptées pour le Luxembourg par la Commission de Surveillance du Secteur financier (« CSSF »). Nos responsabilités en vertu de la loi du 23 juillet 2016 et des normes ISA telles qu’adoptées par la CSSF au Luxembourg sont décrites plus en détail dans la section « Responsabilité du Réviseur d’entreprises agréé pour l’audit des états financiers annuels ». Nous sommes également indépendants de la Société conformément au Code international de déontologie des professionnels comptables, y compris les normes internationales d’indépendances, tel qu’adopté pour le Luxembourg par la CSSF et publié par le Comité des normes internationales d’éthique pour les comptables (Code IESBA), mais aussi conformément aux règles de conduite professionnelles que nous devons respecter dans le cadre de l’audit annuel et nous avons rempli toutes les autres obligations professionnelles conformément à ces exigences comportementales. Nous estimons que les éléments probants que nous avons recueillis sont suffisants et appropriés pour fonder notre opinion d’audit.
Autres informations
La responsabilité des autres informations incombe au Conseil d’administration de la Société de gestion. Les autres informations se composent des informations incluses dans le rapport annuel, mais ne comprennent pas les états financiers annuels et notre rapport du Réviseur d’entreprises agréé sur ces états financiers.
Notre opinion d’audit sur les états financiers annuels ne s’étend pas aux autres informations et nous ne donnons aucune garantie d’aucune sorte sur ces informations.
Dans le cadre de l’audit des états financiers, notre responsabilité consiste à lire les autres informations et à apprécier s’il existe une divergence importante entre celles-ci et les états financiers annuels ou avec les connaissances acquises au cours de l’audit, ou encore si les autres informations semblent autrement comporter des anomalies significatives. Si nous concluons, sur la base des travaux que nous avons effectués, que les autres informations contiennent des anomalies significatives, nous sommes tenus de le signaler. Nous n’avons rien à signaler à cet égard. | #### Report by the Réviseur d'entreprises agréé
To the unitholders of Swisscanto (LU) Portfolio Fund
Audit opinion
We have audited the annual financial statements of Swisscanto (LU) Portfolio Fund and each of its sub-funds (the "Fund"), comprising the statement of net investment portfolio as at 31 March 2022, the income and expense statement and other changes in net assets for the financial year ending on this date, as well as the notes with a summary of significant accounting policies.
In our opinion, the accompanying annual financial statements give a true and fair view of the assets and the financial position of the Fund and its sub-funds as at 31 March 2022, as well as its income and the development of its net assets for the financial year ending on this date, in compliance with the legal provisions and regulations applicable in Luxembourg for the preparation of annual financial statements.
Basis for our audit opinion
We conducted our audit in accordance with the Law of 23 July 2016 governing the audit profession and according to the International Standards on Auditing (ISA) adopted by the Commission de Surveillance du Secteur Financier ("CSSF") for Luxembourg. Our responsibilities under the Law of 23 July 2016 and the ISA standards are described in more detail in the section "Responsibility of the Réviseur d'entreprises agréé for the audit of the annual financial statements." We are also independent of the Fund in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) adopted by the CSSF for Luxembourg together with the ethical requirements that are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Other information
The Management Company's Board of Directors is responsible for the other information. Other information includes the information contained in the annual report, but does not include the financial statements or our Report by the Réviseur d'entreprises agréé on the annual financial statements.
Our audit opinion on the annual financial statements does not cover other information and we do not give any kind of assurance concerning this information.
In connection with our audit of the annual financial statements, it is our responsibility to read the other information and thereby assess whether there is any material discrepancy between this information and the annual financial statements or with the findings of our audit, or whether the other information appears to contain material misstatements. If, on the basis of our work, we conclude that other information contains material misstatements, we are obliged to report this. We have nothing to report in this respect. | en | fr |
DOLFIN769 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# ASSET POSITION
| | 30/06/2020 |
| --- | --- |
| | as an amount |
| FINANCIAL SECURITIES | |
| Equities and equivalent securities (1) | 311,937,448.85 |
| Debt instruments (2) | 0.00 |
| BANK ASSETS | |
| Cash | 40,044,644.52 |
| OTHER ASSETS | |
| UCI units or shares | 57,152,899.44 |
| Forward financial instruments | 1,638,154.25 |
| Receivables | 314,823,492.45 |
| Other | 391,887,707.90 |
| TOTAL ASSETS HELD | 1,117,484,347.41 |
| LIABILITIES | |
| Forward financial instruments | -1,745,704.75 |
| Debts | -303,508,228.43 |
| Cash and banks | -13,596.10 |
| Other | 0.00 |
| NET ASSET VALUE | 812,216,818.13 |
- With the exception of subscription notes
- With the exception of money market instruments, commercial paper, subscription notes, promissory notes and mortgage notes. | # SITUAZIONE PATRIMONIALE
| | 30/06/2020 |
| --- | --- |
| | importo |
| TITOLI FINANZIARI | |
| Azioni e valori assimilati (1) | 311.937.448,85 |
| Titoli di credito (2) | 0,00 |
| DEPOSITI BANCARI | |
| Liquidità | 40.044.644,52 |
| ALTRI ATTIVI | |
| Quote o azioni di OIC | 57.152.899,44 |
| Strumenti finanziari a termine | 1.638.154,25 |
| Crediti | 314.823.492,45 |
| Altri | 391.887.707,90 |
| TOTALE DEGLI ATTIVI DETENUTI | 1.117.484.347,41 |
| PASSIVO | |
| Strumenti finanziari a termine | -1.745.704,75 |
| Debiti | -303.508.228,43 |
| Conti finanziari | -13.596,10 |
| Altri | 0,00 |
| VALORE NETTO D'INVENTARIO | 812.216.818,13 |
- Ad eccezione dei buoni di sottoscrizione
- Ad eccezione degli strumenti finanziari del mercato monetario, degli effetti commerciali, dei buoni di sottoscrizione, dei vaglia cambiari e degli effetti ipotecari. | # ASSET POSITION
| | 30/06/2020 |
| --- | --- |
| | as an amount |
| FINANCIAL SECURITIES | |
| Equities and equivalent securities (1) | 311,937,448.85 |
| Debt instruments (2) | 0.00 |
| BANK ASSETS | |
| Cash | 40,044,644.52 |
| OTHER ASSETS | |
| UCI units or shares | 57,152,899.44 |
| Forward financial instruments | 1,638,154.25 |
| Receivables | 314,823,492.45 |
| Other | 391,887,707.90 |
| TOTAL ASSETS HELD | 1,117,484,347.41 |
| LIABILITIES | |
| Forward financial instruments | -1,745,704.75 |
| Debts | -303,508,228.43 |
| Cash and banks | -13,596.10 |
| Other | 0.00 |
| NET ASSET VALUE | 812,216,818.13 |
- With the exception of subscription notes
- With the exception of money market instruments, commercial paper, subscription notes, promissory notes and mortgage notes. | en | it |
DOLFIN770 | 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 the investment |
| --- |
| Entry charge | Not applicable |
| Exit charge | Not applicable |
| Conversion charge | Not applicable |
| This is the maximum amount that may be deducted from the investor’s money before it is invested or before the proceeds of the investment are paid out. These charges are paid to the Fund in order to cover standard brokerage fees, exchange fees and taxes. |
| Charges debited to the Fund over a year |
| Ongoing charge | 0,09 % |
| Charges debited to the Fund under certain specific conditions |
| Performance fee | Not applicable | | | Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión |
| --- |
| Gastos de entrada | No aplicable |
| Gastos de salida | No aplicable |
| Cargo por conversión | No aplicable |
| Este es el máximo que puede detraerse del capital del inversor antes de proceder a la inversión o de abonar el producto de esta. Estos cargos se pagan al Fondo para cubrir comisiones estándar de corretaje, comisiones por canje e impuestos. |
| Gastos detraídos del fondo a lo largo de un año |
| Gastos corrientes | 0.09% |
| Gastos detraídos del fondo en determinadas condiciones específicas |
| Comisión de rentabilidad | No aplicable | | | One-off charges taken before or after the investment |
| --- |
| Entry charge | Not applicable |
| Exit charge | Not applicable |
| Conversion charge | Not applicable |
| This is the maximum amount that may be deducted from the investor’s money before it is invested or before the proceeds of the investment are paid out. These charges are paid to the Fund in order to cover standard brokerage fees, exchange fees and taxes. |
| Charges debited to the Fund over a year |
| Ongoing charge | 0,09 % |
| Charges debited to the Fund under certain specific conditions |
| Performance fee | Not applicable | | en | es |
DOLFIN771 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# The assets of the Corporation shall be deemed to include:
- all cash on hand or on deposit, including any interest accrued thereon;
- all bills and demand notes and accounts receivable (including proceeds of securities sold but not delivered) except those receivable from a subsidiary of the Corporation;
- all bonds, time notes, shares, stock, debenture stocks, subscription rights, warrants, options and other investments and securities owned or contracted for by the Corporation;
- all stock, stock dividends, cash dividends and cash distributions receivable by the Corporation to the extent information thereon is reasonably available to the Corporation (provided that the Corporation may make adjustments with regard to fluctuations in the market value of securities caused by trading ex-dividends, ex-rights, or by similar practices);
- all interest accrued on any interest-bearing securities owned by the Corporation, except to the extent that the same is included or reflected in the principal amount of such security;
- the preliminary expenses of the Corporation insofar as the same have not been written off, provided that such preliminary expenses may be written off directly from the capital of the Corporation; and
- all other assets of every kind and nature, including prepaid expenses. | # Les avoirs de la Société seront réputés comprendre :
- toutes les espèces en caisse ou en dépôt, y compris les intérêts échus sur ces espèces ;
- tous les effets et billets payables à vue et les comptes exigibles (y compris le produit de la vente de titres vendus mais non encore livrés), à l’exception de ceux à recevoir d’une filiale de la Société ;
- toutes les obligations, effets à terme, actions, actions obligataires, droits d’option ou de souscription, warrants et autres investissements et titres qui sont la propriété de la Société ou font l’objet de contrats détenus par la Société ;
- toutes les actions, tous les dividendes en espèces ou en titres et toutes les distributions en espèces à recevoir par la Société dans la mesure où la Société peut raisonnablement disposer d’informations les concernant (étant entendu que la Société pourra faire des ajustements en considération des fluctuations de la valeur de marché des titres occasionnées par des pratiques telles que la négociation ex-dividende ou ex-droits ou autres pratiques similaires) ;
- tous les intérêts échus produits par les titres portant intérêt qui sont la propriété de la Société, sauf toutefois si ces intérêts sont compris ou reflétés dans le principal de ces titres ;
- les dépenses préliminaires de la Société dans la mesure où elles n’ont pas été amorties, étant entendu que ces dépenses préliminaires peuvent être déduites directement du capital de la Société; et
- tous les autres avoirs de quelque nature qu’ils soient, y compris les charges payées d’avance. | # The assets of the Corporation shall be deemed to include:
- all cash on hand or on deposit, including any interest accrued thereon;
- all bills and demand notes and accounts receivable (including proceeds of securities sold but not delivered) except those receivable from a subsidiary of the Corporation;
- all bonds, time notes, shares, stock, debenture stocks, subscription rights, warrants, options and other investments and securities owned or contracted for by the Corporation;
- all stock, stock dividends, cash dividends and cash distributions receivable by the Corporation to the extent information thereon is reasonably available to the Corporation (provided that the Corporation may make adjustments with regard to fluctuations in the market value of securities caused by trading ex-dividends, ex-rights, or by similar practices);
- all interest accrued on any interest-bearing securities owned by the Corporation, except to the extent that the same is included or reflected in the principal amount of such security;
- the preliminary expenses of the Corporation insofar as the same have not been written off, provided that such preliminary expenses may be written off directly from the capital of the Corporation; and
- all other assets of every kind and nature, including prepaid expenses. | en | fr |
DOLFIN772 | 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
Lower Potential Reward Higher Potential Reward
| 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- |
## What does this risk indicator mean?
The above risk indicator ranks potential risk and reward and is based on medium-term volatility (how sharply the Sub-Fund's actual or estimated share price has gone up and down over five years).
Historical data, such as that used in calculating this synthetic indicator, may not be a reliable indication of the future risk profile of the Sub-Fund. The lowest category does not mean a 'risk-free' investment. The Sub-Fund's risk indicator is not guaranteed and may change over time.
The Sub-Fund's risk category reflects the fact that as an asset class, below-investment grade bonds tend to be more volatile than investment grade bonds.
For un-hedged currency classes, exchange rate movements may affect the risk indicator where the currency of the underlying investments differs from the currency of the share class.
## Additional key risks
The risk indicator reflects market conditions of recent years and may not adequately capture the following additional key risks of the Sub- Fund and the Master Sub-Fund:
Counterparty risk Contract parties may default on their obligations under derivatives contracts entered into with the Master Sub-Fund.
Credit risk The issuers of bonds held by the Master Sub-Fund may fail to pay principal or interest due. Higher yielding bonds may carry greater credit risk.
Liquidity risk In adverse market conditions, securities that are liquid may become difficult to value, buy or sell, which could affect the Master Sub-Fund's ability to process redemption requests.
Operational risk Losses may occur due to human error or omission, process errors, system disruptions or external events.
Derivatives risk Derivatives create leverage in the Master Sub-Fund and may cause movements in the value of the underlying investments to amplify gains or losses to the Master Sub-Fund.
Emerging market risk Some of the countries invested in may carry higher political, legal, economic and liquidity risks than investments in more developed countries.
LU1043749990EN23032018
Amundi SICAV II - Euro High Yield
| One-off charges taken before or after you invest |
| --- |
| Entry charge | None | Maximum charges that might be taken out of your money before it is invested or before the proceeds of your investment are paid out. |
| Exit charge | None | | # >> Perfil de riesgo y remuneración
Riesgo más bajo Riesgo más alto
Potencial de remuneración inferior Potencial de remuneración superior
| 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- |
## ¢Qué significa este indicador de riesgo?
El indicador de riesgo anterior clasifica el riesgo y las remuneraciones posibles y se basa en la volatilidad a medio plazo (intensidad con la que sube o baja el precio estimado o real de las participaciones del Subfondo en un horizonte de cinco años). Los datos históricos, tales como los utilizados en el cálculo de este indicador sintético, pueden no constituir una indicación fiable del futuro perfil de riesgo del Subfondo. La categoría más baja no significa que la inversión esté libre de riesgo. El indicador de riesgo del Subfondo no está garantizada y puede sufrir cambios a lo largo del tiempo.
La categoría de riesgo del Subfondo refleja el hecho de que, como clase de activo, el bono con calificación inferior a grado de inversión tiende a ser más volátil que el bono con calificación de grado de inversión.
En el caso de clases de moneda sin cobertura, los movimientos de tipos de cambio pueden afectar al indicador de riesgo cuando la moneda asociada a las inversiones subyacentes difiere de la moneda asociada a la clase de acciones.
## Riesgos principales adicionales
El indicador de riesgo refleja las condiciones de mercado de años recientes y puede no captar correctamente los siguientes riesgos principales adicionales del Subfondo y el Subfondo Principal:
Riesgo de contrapartida Las partes contratantes pueden incumplir las obligaciones contraídas en virtud de contratos financieros derivados celebrados con el Subfondo Principal.
Riesgo de crédito Los emisores de los instrumentos de renta fija en poder del Subfondo Principal pueden no reembolsar el principal o no abonar los intereses vencidos. Los bonos de más alta rentabilidad pueden conllevar mayor riesgo de crédito.
Riesgo de liquidez En condiciones de mercado adversas, los valores líquidos pueden resultar difíciles de valorar, comprar o vender, lo que puede afectar a la capacidad del Subfondo Principal para procesar solicitudes de reembolso.
Riesgo operativo Pueden producirse pérdidas por errores u omisiones humanos, fallos de proceso, interrupciones en el sistema o circunstancias externas.
Riesgo de derivados Los derivados tienen un efecto de apalancamiento en el Subfondo Principal y pueden causar variaciones en el valor de las inversiones subyacentes que podrían incrementar las ganancias o pérdidas del Subfondo Principal.
Riesgo en mercados emergentes Algunos de los países en los que se invierte podrían presentar un mayor riesgo político, legal, económico o de liquidez que otras inversiones en países desarrollados.
LU1043749990ES23032018
Amundi SICAV II - Euro High Yield
| Gastos no recurrentes percibidos con anterioridad o posterioridad a la inversión |
| --- |
| Gastos de entrada | No aplicable | Gastos máximos que podrían detraerse de su capital antes de proceder a la inversión o antes de abonar el producto de la inversión. |
| Gastos de salida | No aplicable | | # >> Risk and Reward Profile
Lower Risk Higher Risk
Lower Potential Reward Higher Potential Reward
| 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- |
## What does this risk indicator mean?
The above risk indicator ranks potential risk and reward and is based on medium-term volatility (how sharply the Sub-Fund's actual or estimated share price has gone up and down over five years).
Historical data, such as that used in calculating this synthetic indicator, may not be a reliable indication of the future risk profile of the Sub-Fund. The lowest category does not mean a 'risk-free' investment. The Sub-Fund's risk indicator is not guaranteed and may change over time.
The Sub-Fund's risk category reflects the fact that as an asset class, below-investment grade bonds tend to be more volatile than investment grade bonds.
For un-hedged currency classes, exchange rate movements may affect the risk indicator where the currency of the underlying investments differs from the currency of the share class.
## Additional key risks
The risk indicator reflects market conditions of recent years and may not adequately capture the following additional key risks of the Sub- Fund and the Master Sub-Fund:
Counterparty risk Contract parties may default on their obligations under derivatives contracts entered into with the Master Sub-Fund.
Credit risk The issuers of bonds held by the Master Sub-Fund may fail to pay principal or interest due. Higher yielding bonds may carry greater credit risk.
Liquidity risk In adverse market conditions, securities that are liquid may become difficult to value, buy or sell, which could affect the Master Sub-Fund's ability to process redemption requests.
Operational risk Losses may occur due to human error or omission, process errors, system disruptions or external events.
Derivatives risk Derivatives create leverage in the Master Sub-Fund and may cause movements in the value of the underlying investments to amplify gains or losses to the Master Sub-Fund.
Emerging market risk Some of the countries invested in may carry higher political, legal, economic and liquidity risks than investments in more developed countries.
LU1043749990EN23032018
Amundi SICAV II - Euro High Yield
| One-off charges taken before or after you invest |
| --- |
| Entry charge | None | Maximum charges that might be taken out of your money before it is invested or before the proceeds of your investment are paid out. |
| Exit charge | None | | en | es |
DOLFIN773 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# GLOSSAIRE
- Ajustement pour dilution : il s’agit de frais appliqués pour protéger les actionnaires existant contre les coûts générés par l’achat ou la vente d’investissements sous-jacents en raison d’un volume important d’achats ou de ventes d’actions au sein du fonds concerné. L’ajustement pour dilution entraîne une hausse du prix de souscription du compartiment (en cas d’entrées), ou une baisse du prix de rachat (en cas de sorties).
- Approche ascendante : consiste à analyser en premier lieu les données fondamentales des entreprises comme la santé financière d’une entreprise, son positionnement au sein d’un secteur, son management, etc.
- Approche descendante : consiste à étudier en premier lieu la situation macroéconomique d’un pays, d’une région, d’un continent, etc., afin de distinguer les zones présentant les meilleurs fondamentaux et celles présentant des fragilités.
- Buy and Watch : stratégie de sélection des obligations étayée par une recherche fondamentale approfondie axée sur la minimisation de la probabilité de défaillance. L'objectif est de conserver les positions jusqu'à leur échéance.
- Défaut : incapacité à rembourser une dette, en incluant les intérêts ou le capital d’un prêt ou d’un titre.
- Duration d’une obligation : durée de vie moyenne des flux financiers de l’obligation pondérée par leur valeur actualisée. Toutes choses étant égales par ailleurs, plus la duration est élevée, plus le risque est grand.
- Maturité : délai entre la date du rapport et la date d’échéance de l’obligation.
- Notation Morningstar ©: évaluation quantitative de la performance passée d’une part/classe, mise à jour mensuellement, qui mesure le risque et la performance de cette part/classe. Elle constitue un jugement objectif permettant de comparer cette part/classe par rapport à sa catégorie Morningstar©.
- Notation de Standard & Poor’s (S&P) : notation des crédits à long-terme - Catégorie « Investment Grade »: AAA, AA, A, A-, BBB+, BBB ; Catégorie « Haut rendement (dite spéculative) »: BB, B, CCC ; Notation des crédits à courts termes : A-1+, A-1, B, C ; NR : «Not Rated» ou «pas notée» (sujet à changement). L’obligation n’est pas ou plus suivie par l’agence de notation.
Définition à titre illustratif. Pour davantage de détails et explications sur les notations S&P, veuillez accéder au site Web de S&P avec le lien suivant : https://www.standardandpoors.com/en_EU/web/guest/article/-/view/sourceId/504352.
- Obligation : type de titre de placement qui verse des intérêts fixes aux investisseurs jusqu’à sa date d’échéance.
- Obligation convertible : obligation à laquelle est attaché un droit de conversion qui offre à son porteur le droit d’échanger l’obligation en actions de la société émettrice, selon une parité de conversion préfixée, et dans une période future prédéterminée.
- Obligation crédit : valeur mobilière qui constitue une créance sur son émetteur.
- Obligation emprunts d'état ou assimilé : obligation dont l’émetteur est un état ou assimilé (par exemple une entité étatique).
- Obligation haut rendement : catégorie d’obligations, également appelées obligations spéculatives ( junk bonds, en anglais), dont la notation est inférieure à « investment grade » (c’est-à-dire toutes les notations inférieures à BBB- selon l’échelle de l’agence de notation Standard & Poor’s). En règle générale, plus la notation est faible, plus le rendement est élevé, car le risque sur leur remboursement est plus élevé.
- Obligation investment grade : catégorie d’obligations de « qualité » dont la notation est située entre AAA et BBB- selon l’échelle de l’agence de notation Standard & Poor’s ou équivalent pour les autres agences (Fitch ou Moody’s).
- Pb : point de base, représente un centième de pourcent.
- Profil de risque et de rendement : indicateur représentant la volatilité historique annuelle du compartiment sur une période de 5 ans. Faute d’historique su sant, l’indicateur de risque incorpore des données simulées à partir d’un portefeuille de référence. La catégorie de risque associée à ce compartiment n’est pas garantie et pourra évoluer dans le temps. La catégorie la plus faible ne signifie pas « sans risque ». Le capital investi initialement n’est pas garanti.
- Variation de la valeur d'un produit financier: représente la hausse ou la baisse de ce produit.
- YTD : Year to Date (du dernier jour ouvré de l'année précédente à la date du reporting). | # GLOSARIO
- Ajuste por dilución : Se trata de gastos aplicados para proteger a los accionistas existentes contra los costes generados por la compra o la venta de inversiones subyacentes debido a un gran volumen de compras o ventas de acciones dentro del fondo en cuestión. El ajuste de dilución conlleva un aumento del precio de suscripción del subfondo (en el caso de las entradas) o una disminución del precio de reembolso (en el caso de las salidas).
- Enfoque ascendente (Bottom-up) : Consiste en analizar en primer lugar los datos fundamentales de las empresas, como su situación financiera, su posicionamiento en un sector, su dirección, etc.
- Enfoque descendente (Top down) : Análisis que consiste en estudiar en primer lugar la situación macroeconómica de un país, región, continente, etc., con vistas a distinguir las zonas con los mejores fundamentales y las que presentan debilidades.
- Buy and Watch : Estrategia de selección de bonos respaldada por un exhaustivo análisis fundamental centrado en la minimización de la probabilidad de impago. El objetivo es mantener las posiciones hasta su vencimiento.
- Impago : Incapacidad para reembolsar una deuda, incluidos los intereses o el capital de un préstamo o de un título.
- Duración de una obligación : Es la vida media de los flujos financieros del bono ponderados por su valor actual. En igualdad de circunstancias, cuanto mayor sea la duración, mayor será el riesgo.
- Vencimiento : Plazo comprendido entre la fecha del informe y la fecha de vencimiento del bono.
- Calificación Morningstar : Evaluación cuantitativa de la rentabilidad histórica de una participación o clase, actualizada mensualmente, que mide el riesgo y la remuneración de dicha participación o clase. Es una valoración objetiva que permite comparar dicha participación o clase con su categoría MorningstarTM.
- Calificación media : Promedio de las calificaciones de la cartera ponderadas por su peso.
- Calificación Standard & Poor’s (S&P) : Calificación de la deuda corporativa a largo plazo - Categoría «Investment Grade» (primera calificación crediticia): AAA, AA, A, A-, BBB+, BBB; Categoría especulativa: BB, B, CCC; calificación de la deuda corporativa a corto plazo: A-1+, A-1, B, C; NR: «Not Rated» o «sin calificación» (sujeta a variación). La agencia de calificación no realiza un seguimiento de la obligación o ha dejado de realizarlo.
Definición a título ilustrativo. Para más detalles y explicaciones sobre las calificaciones de S&P, visite el sitio web de S&P en el siguiente enlace: https://www.standardandpoors.com/en_EU/web/guest/article/- Zview/sourceId/504352.
- Bono : Tipo de instrumento de inversión que distribuye intereses fijos a los inversores hasta su fecha de vencimiento.
- Bonos convertibles : Bono que tiene vinculado un derecho de conversión que ofrece a su titular el derecho de canjear el bono por acciones de la sociedad, con una paridad de conversión preestablecida y en un periodo futuro predeterminado.
- Bonos de deuda corporativa : Valor mobiliario que constituye una deuda para su emisor.
- Bonos de Estados y representantes : Bono cuyo emisor es un Estado o un representante (por ejemplo, una entidad estatal).
- Bono high yield o de alto rendimiento : Categoría de bonos, también conocidos como bonos especulativos («junk bonds» en inglés), con una calificación inferior a la primera calificación crediticia (es decir, todas las calificaciones inferiores a BBB- en la escala de calificación de Standard & Poor’s). Por norma general, cuanto menor sea la calificación, mayor será el rendimiento, ya que el riesgo de reembolso será mayor.
- Bonos de primera calificación crediticia : Categoría de bonos de «calidad» con una calificación entre AAA y BBB- en la escala de Standard & Poor’s o el equivalente en otras agencias (Fitch o Moody’s).
- Perfil de riesgo y remuneración : Indicador que representa la volatilidad histórica anual del subfondo durante un periodo de 5 años. Si no existen suficientes datos históricos, el indicador del riesgo incorpora datos simulados extraídos de una cartera de referencia. La categoría de riesgo asociada a este subfondo no está garantizada y puede variar con el tiempo. La categoría más baja no significa que la inversión esté libre de riesgo. El capital inicial invertido no está garantizado.
- Sensibilidad: Corresponde a la variación del precio de un bono causada por una subida o bajada de los tipos de interés.
- YTD : Year to Date (del 31 de diciembre del año anterior a la fecha actual). | # GLOSSAIRE
- Ajustement pour dilution : il s’agit de frais appliqués pour protéger les actionnaires existant contre les coûts générés par l’achat ou la vente d’investissements sous-jacents en raison d’un volume important d’achats ou de ventes d’actions au sein du fonds concerné. L’ajustement pour dilution entraîne une hausse du prix de souscription du compartiment (en cas d’entrées), ou une baisse du prix de rachat (en cas de sorties).
- Approche ascendante : consiste à analyser en premier lieu les données fondamentales des entreprises comme la santé financière d’une entreprise, son positionnement au sein d’un secteur, son management, etc.
- Approche descendante : consiste à étudier en premier lieu la situation macroéconomique d’un pays, d’une région, d’un continent, etc., afin de distinguer les zones présentant les meilleurs fondamentaux et celles présentant des fragilités.
- Buy and Watch : stratégie de sélection des obligations étayée par une recherche fondamentale approfondie axée sur la minimisation de la probabilité de défaillance. L'objectif est de conserver les positions jusqu'à leur échéance.
- Défaut : incapacité à rembourser une dette, en incluant les intérêts ou le capital d’un prêt ou d’un titre.
- Duration d’une obligation : durée de vie moyenne des flux financiers de l’obligation pondérée par leur valeur actualisée. Toutes choses étant égales par ailleurs, plus la duration est élevée, plus le risque est grand.
- Maturité : délai entre la date du rapport et la date d’échéance de l’obligation.
- Notation Morningstar ©: évaluation quantitative de la performance passée d’une part/classe, mise à jour mensuellement, qui mesure le risque et la performance de cette part/classe. Elle constitue un jugement objectif permettant de comparer cette part/classe par rapport à sa catégorie Morningstar©.
- Notation de Standard & Poor’s (S&P) : notation des crédits à long-terme - Catégorie « Investment Grade »: AAA, AA, A, A-, BBB+, BBB ; Catégorie « Haut rendement (dite spéculative) »: BB, B, CCC ; Notation des crédits à courts termes : A-1+, A-1, B, C ; NR : «Not Rated» ou «pas notée» (sujet à changement). L’obligation n’est pas ou plus suivie par l’agence de notation.
Définition à titre illustratif. Pour davantage de détails et explications sur les notations S&P, veuillez accéder au site Web de S&P avec le lien suivant : https://www.standardandpoors.com/en_EU/web/guest/article/-/view/sourceId/504352.
- Obligation : type de titre de placement qui verse des intérêts fixes aux investisseurs jusqu’à sa date d’échéance.
- Obligation convertible : obligation à laquelle est attaché un droit de conversion qui offre à son porteur le droit d’échanger l’obligation en actions de la société émettrice, selon une parité de conversion préfixée, et dans une période future prédéterminée.
- Obligation crédit : valeur mobilière qui constitue une créance sur son émetteur.
- Obligation emprunts d'état ou assimilé : obligation dont l’émetteur est un état ou assimilé (par exemple une entité étatique).
- Obligation haut rendement : catégorie d’obligations, également appelées obligations spéculatives ( junk bonds, en anglais), dont la notation est inférieure à « investment grade » (c’est-à-dire toutes les notations inférieures à BBB- selon l’échelle de l’agence de notation Standard & Poor’s). En règle générale, plus la notation est faible, plus le rendement est élevé, car le risque sur leur remboursement est plus élevé.
- Obligation investment grade : catégorie d’obligations de « qualité » dont la notation est située entre AAA et BBB- selon l’échelle de l’agence de notation Standard & Poor’s ou équivalent pour les autres agences (Fitch ou Moody’s).
- Pb : point de base, représente un centième de pourcent.
- Profil de risque et de rendement : indicateur représentant la volatilité historique annuelle du compartiment sur une période de 5 ans. Faute d’historique su sant, l’indicateur de risque incorpore des données simulées à partir d’un portefeuille de référence. La catégorie de risque associée à ce compartiment n’est pas garantie et pourra évoluer dans le temps. La catégorie la plus faible ne signifie pas « sans risque ». Le capital investi initialement n’est pas garanti.
- Variation de la valeur d'un produit financier: représente la hausse ou la baisse de ce produit.
- YTD : Year to Date (du dernier jour ouvré de l'année précédente à la date du reporting). | fr | es |
DOLFIN774 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# The Resolution set out in the Notice in Appendix B will need to be duly passed by a simple majority of the votes cast in person or by proxy at the EGM.
- Directors’ recommendationThe Directors consider that the amendments to the investment objective and policies of the Sub-Fund as outlined in Appendix A and as described above are in the best interests of the Shareholders of the Sub-Fund as a whole and recommend that you vote in favour of the proposed resolution.
- Effective DateThe effective date (”Effective Date”) of the proposed amendments to the investment objective and policies of the Sub-Fund shall, subject to the requirements of the Central Bank of Ireland and any other relevant competent regulatory authority, and subject to the passing of an ordinary resolution in favour of that proposal by a majority of Shareholders in respect of the Sub-Fund, present in person or by proxy, who cast votes at the EGM of the Shareholders of the Sub-Fund, be on or about 27 September 2021.
- Action to be takenIn order to consider the proposals set out in this document, you are advised first to read all the enclosed documentation. | # La Résolution Spéciale énoncée dans la Notification à l'Annexe B devra être dûment adoptée à la majorité simple des voix exprimées en personne ou par procuration à l'AGE.
- Recommandation des AdministrateursLes Administrateurs estiment que les modifications proposées à l'objectif et à la politique d'investissement du Compartiment telles que précisées dans l'Annexe A et telles que décrites ci-dessus sont dans le meilleur intérêt des Actionnaires du Compartiment considérés dans leur ensemble et vous recommandent de voter en faveur des résolutions proposées.
- Date d’EffetLa date effective (« Date d'effet ») des modifications proposées à l'objectif et à la politique d'investissement du Compartiment, sous réserve des obligations prononcées par la Banque centrale d’Irlande et toute autre autorité réglementaire compétente, ainsi que de l'adoption d’une résolution ordinaire en faveur de la proposition concernée à la majorité des voix exprimées en personne ou par procuration lors de l’AGE des Actionnaires qui se tiendra aux alentours du 27 septembre 2021.
- Actions à entreprendreAfin d'examiner les propositions énoncées dans le présent document, nous vous conseillons de lire au préalable toute la documentation figurant dans la présente. | # The Resolution set out in the Notice in Appendix B will need to be duly passed by a simple majority of the votes cast in person or by proxy at the EGM.
- Directors’ recommendationThe Directors consider that the amendments to the investment objective and policies of the Sub-Fund as outlined in Appendix A and as described above are in the best interests of the Shareholders of the Sub-Fund as a whole and recommend that you vote in favour of the proposed resolution.
- Effective DateThe effective date (”Effective Date”) of the proposed amendments to the investment objective and policies of the Sub-Fund shall, subject to the requirements of the Central Bank of Ireland and any other relevant competent regulatory authority, and subject to the passing of an ordinary resolution in favour of that proposal by a majority of Shareholders in respect of the Sub-Fund, present in person or by proxy, who cast votes at the EGM of the Shareholders of the Sub-Fund, be on or about 27 September 2021.
- Action to be takenIn order to consider the proposals set out in this document, you are advised first to read all the enclosed documentation. | en | fr |
DOLFIN775 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
### Suspension of Net Asset Value Calculation
The Company may suspend temporarily the issue and redemption of Shares relating to all or any of the Funds as well as the right to switch Shares relating to a Fund into Shares relating to another Fund and the calculation of the Net Asset Value per Share relating to any Fund:
- during any period when the principal stock exchanges or any other Regulated Market on which a substantial proportion of the investments of the Company attributable to such Fund are quoted are closed otherwise than for ordinary holidays, or during which dealings thereon are restricted or suspended; or
- during the existence of any state of affairs which constitutes an emergency as a result of which disposals or valuation of assets owned by the Company attributable to such Fund would be impractical; or
- during any breakdown in the means of communication normally employed in determining the price or value of any of the investments attributable to any particular Fund or the currency price or values on any such stock exchange; or
- during any period when the Company is unable to repatriate monies for the purpose of making repayments due on the redemption of such Shares or during which any transfer of monies involved in the realisation or acquisition of investments or payments due on the redemption of such Shares cannot in the opinion of the Directors be effected at normal rates of exchange; or
- following any decision to liquidate or dissolve the Company or one or several Funds.
- following a decision to merge a Fund or the Company, if justified with a view to protecting the interest of Shareholders. | ### Aussetzung der Nettoinventarwertberechnung
Die Gesellschaft kann die Emission und Rücknahme von Anteilen in Bezug auf alle oder einen der Fonds sowie das Recht auf Umtausch von Anteilen eines Fonds gegen Anteile eines anderen Fonds sowie die Berechnung des Nettoinventarwertes je Anteil eines Fonds vorübergehend aussetzen, und zwar:
- innerhalb jedes Zeitraums, in dem die wichtigsten Börsen oder ein anderer geregelter Markt, an denen ein wesentlicher Teil der diesem Fonds zuzurechnenden Anlagen der Gesellschaft notiert ist, ausanderen Gründen als den allgemein üblichen Feiertagen geschlossen sind oder in dem der Handel an diesen eingeschränkt oder vorübergehend ausgesetzt ist; oder
- während gegebener Umstände, die eine Krisensituation darstellen, infolge deren die Veräußerung oder Bewertung von Vermögenswerten, die sich im Eigentum der Gesellschaft befinden und einem solchen Fonds zuzurechnen sind, praktisch nicht durchführbar wäre; oder
- während eines Ausfalls der Kommunikationsmittel, die normalerweise für die Ermittlung des Preises oder Wertes der einem bestimmten Fonds zuzurechnenden Anlagen oder des Wechselkurses oder Wertes an einer solchen Börse verwendet werden; oder
- innerhalb eines Zeitraumes, in dem die Gesellschaft nicht in der Lage ist, Gelder zurückzuführen, die zum Zweck der Zahlung für die Rücknahme dieser Anteile anfallen oder in dem der Zahlungsverkehr in Verbindung mit der Veräußerung oder dem Erwerb von Anlagen oder den für die Rücknahme dieser Anteile fällig werdenden Zahlungen nach Ansicht der Verwaltungsratsmitglieder nicht zu normalen Wechselkursen erfolgen kann; oder
- infolge eines Beschlusses, die Gesellschaft oder einen oder mehrere Fonds zu liquidieren oder aufzulösen.
- im Anschluss an eine Entscheidung, einen Fonds oder die Gesellschaft zu fusionieren, sofern dies im Interesse der Anteilinhaber gerechtfertigt ist. | ### Suspension of Net Asset Value Calculation
The Company may suspend temporarily the issue and redemption of Shares relating to all or any of the Funds as well as the right to switch Shares relating to a Fund into Shares relating to another Fund and the calculation of the Net Asset Value per Share relating to any Fund:
- during any period when the principal stock exchanges or any other Regulated Market on which a substantial proportion of the investments of the Company attributable to such Fund are quoted are closed otherwise than for ordinary holidays, or during which dealings thereon are restricted or suspended; or
- during the existence of any state of affairs which constitutes an emergency as a result of which disposals or valuation of assets owned by the Company attributable to such Fund would be impractical; or
- during any breakdown in the means of communication normally employed in determining the price or value of any of the investments attributable to any particular Fund or the currency price or values on any such stock exchange; or
- during any period when the Company is unable to repatriate monies for the purpose of making repayments due on the redemption of such Shares or during which any transfer of monies involved in the realisation or acquisition of investments or payments due on the redemption of such Shares cannot in the opinion of the Directors be effected at normal rates of exchange; or
- following any decision to liquidate or dissolve the Company or one or several Funds.
- following a decision to merge a Fund or the Company, if justified with a view to protecting the interest of Shareholders. | en | de |
DOLFIN776 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
| Investment: EUR 10,000 | If you exit after 1 year | If you exit after 5 years |
| --- | --- | --- |
| Total costs | 258 EUR | 1,689 EUR |
| Annual cost impact (*) | 2.6% | 2.7% | | | Investimento: 10.000 EUR | In caso di uscita dopo 1 anno | In caso di uscita dopo 5 anni |
| --- | --- | --- |
| Costi totali | 258 EUR | 1.689 EUR |
| Incidenza annuale dei costi (*) | 2,6% | 2,7% | | | Investment: EUR 10,000 | If you exit after 1 year | If you exit after 5 years |
| --- | --- | --- |
| Total costs | 258 EUR | 1,689 EUR |
| Annual cost impact (*) | 2.6% | 2.7% | | en | it |
DOLFIN777 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
USD (448)
SGD (604)
Schedule of investments
- as at 31 December 2021
BNY Mellon Global Infrastructure Income Fund SGD J (Inc) (Hedged) Share Class | USD (448)
SGD (604)
Prospetto degli investimenti
- al 31 dicembre 2021
BNY Mellon Global Infrastructure Income Fund Classe di Azioni SGD J (Inc) (Hedged) | USD (448)
SGD (604)
Schedule of investments
- as at 31 December 2021
BNY Mellon Global Infrastructure Income Fund SGD J (Inc) (Hedged) Share Class | en | it |
DOLFIN778 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
#### issued by corporations and other non‑ government related issuers (“Corporate Bonds”) while incorporating environmental, social and corporate governance (ESG) considerations. The Fund will only invest in the top 80% of ESG‑scoring corporates in each sub‑sector of the Bloomberg Barclays European Corporate Index.
Please refer to the full prospectus for the Fund’s investment objective and policy.
Transferable securities and money market instruments admitted to official exchange listing or dealt in on another regulated market | #### fisso denominati in euro emessi da società e altri emittenti non governativi (“Obbligazioni societarie”) tenendo conto al contempo di considerazioni ambientali, sociali e di governance aziendale (ESG). Il Fondo investirà solo nei titoli di società incluse nell’80% con il punteggio ESG più elevato in ciascun sottosettore dell’Indice Bloomberg Barclays European Corporate.
Per la politica e l’obiettivo d’investimento del Fondo, si rimanda al prospetto informativo completo.
Valori mobiliari e strumenti del mercato monetario ammessi al
listino ufficiale o negoziati su un altro mercato regolamentato | #### issued by corporations and other non‑ government related issuers (“Corporate Bonds”) while incorporating environmental, social and corporate governance (ESG) considerations. The Fund will only invest in the top 80% of ESG‑scoring corporates in each sub‑sector of the Bloomberg Barclays European Corporate Index.
Please refer to the full prospectus for the Fund’s investment objective and policy.
Transferable securities and money market instruments admitted to official exchange listing or dealt in on another regulated market | en | it |
DOLFIN779 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
In the context of its objectives, the Company will be able to offer a choice of several sub-funds, which are managed and administered separately. Details of the specific investment policy for the different sub-funds are provided in the supplement devoted to each of the sub-funds. In the context of its investments, the assets of a specific sub-fund are only liable for the debts, liabilities and obligations relating to this sub-fund. Each sub-fund is treated as a separate entity in relations between shareholders.
The board of directors of the Company (the “Board of Directors”) may issue one or more share classes for each sub-fund. The cost structures, the minimum provided for the initial investment, the distribution policy, the currency in which the net asset value is expressed and the eligible investor categories may differ depending on the different share classes. The different classes may also be differentiated on the basis of other objective factors as determined by the Board of Directors.
- Specific features of the sub-fundsThe investment objectives and policies to be pursued in each sub-fund are described in each of the supplements relating to each sub-fund. | Nell’ambito dei propri obiettivi, la Società sarà in grado di offrire una selezione di molteplici comparti, soggetti a gestione e amministrazione separate. I dettagli relativi alla politica di investimento di ogni singolo comparto sono contenuti nel supplemento relativo a ciascun comparto. Nel quadro dei propri investimenti, gli attivi di uno specifico comparto saranno esposti solo ai debiti, alle passività e agli obblighi di tale comparto. Ciascun comparto è considerato quale entità separata nei rapporti tra gli azionisti.
Il consiglio di amministrazione della Società (il “Consiglio di Amministrazione”) può emettere una o più classi di azioni per ciascun comparto. La struttura dei costi, l’ammontare minimo previsto per l’investimento iniziale, la politica di distribuzione, la valuta di denominazione del valore patrimoniale netto e le categorie degli investitori ammissibili potranno differire in funzione delle diverse classi di azioni. Le classi potranno altresì differenziarsi relativamente ad ulteriori fattori oggettivi stabiliti dal Consiglio di Amministrazione.
- Caratteristiche specifiche dei compartiGli obiettivi e le politiche di investimento perseguiti da ciascun comparto sono descritti in ciascuno dei supplementi relativi ai singoli comparti. | In the context of its objectives, the Company will be able to offer a choice of several sub-funds, which are managed and administered separately. Details of the specific investment policy for the different sub-funds are provided in the supplement devoted to each of the sub-funds. In the context of its investments, the assets of a specific sub-fund are only liable for the debts, liabilities and obligations relating to this sub-fund. Each sub-fund is treated as a separate entity in relations between shareholders.
The board of directors of the Company (the “Board of Directors”) may issue one or more share classes for each sub-fund. The cost structures, the minimum provided for the initial investment, the distribution policy, the currency in which the net asset value is expressed and the eligible investor categories may differ depending on the different share classes. The different classes may also be differentiated on the basis of other objective factors as determined by the Board of Directors.
- Specific features of the sub-fundsThe investment objectives and policies to be pursued in each sub-fund are described in each of the supplements relating to each sub-fund. | en | it |
DOLFIN780 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# Composition of costs
The table below shows the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period and the meaning of the different cost categories.
| The table shows the impact on return per year | Annual cost impact if you exit after 7 years |
| --- | --- |
| One-off costs upon entry or exit | Entry costs | We do not charge an entry fee. | EUR 0 |
| Exit costs | We do not charge an exit fee for this product, but the person selling you the product may do so. | EUR 0 |
| Ongoing costs taken each year | Management fees and other administrative or operating costs | 0.00% of the value of your investment per year. This is an estimate based on actual costs over the last year. | EUR 0 |
| Transaction costs | 0.02% 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 1.5 |
| Incidental costs taken under specific conditions | Performance fees and carried interest | There is no performance fee for this product. | EUR 0 | | # Composizione dei costi
La tabella seguente mostra l'impatto annuale dei diversi tipi di costi sul rendimento dell'investimento che si potrebbe ottenere alla fine del periodo di detenzione consigliato e riporta il significato delle diverse categorie di costo.
| La tabella mostra l'impatto annuale sul rendimento | Impatto dei costi annuale in caso di uscita dopo 7 anni |
| --- | --- |
| Costi una tantum all'ingresso o all'uscita | Costi di sottoscrizione | Non è prevista una commissione di sottoscrizione. | EUR 0 |
| Costi di uscita | Noi non addebitiamo alcuna commissione di uscita per questo prodotto, tuttavia la persona che lo vende agli investitori potrebbe applicarla. | EUR 0 |
| Spese correnti sostenute ogni anno | Commissioni di gestione e altri costi amministrativi od operativi | 0,00% del valore dell'investimento annuo. Si tratta di una stima basata sui costi effettivi dell'ultimo anno. | EUR 0 |
| Costi di transazione | 0,02% del valore dell'investimento annuo. Si tratta di una stima dei costi sostenuti all'acquisto e alla vendita degli investimenti sottostanti per il prodotto. L'importo effettivo varia a seconda dell’importo di acquisto o vendita. | EUR 1,5 |
| Costi accidentali sostenuti in condizioni specifiche | Commissioni legate al rendimento e carried interest | Non è prevista alcuna commissione legata al rendimento per questo prodotto. | EUR 0 | | # Composition of costs
The table below shows the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period and the meaning of the different cost categories.
| The table shows the impact on return per year | Annual cost impact if you exit after 7 years |
| --- | --- |
| One-off costs upon entry or exit | Entry costs | We do not charge an entry fee. | EUR 0 |
| Exit costs | We do not charge an exit fee for this product, but the person selling you the product may do so. | EUR 0 |
| Ongoing costs taken each year | Management fees and other administrative or operating costs | 0.00% of the value of your investment per year. This is an estimate based on actual costs over the last year. | EUR 0 |
| Transaction costs | 0.02% 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 1.5 |
| Incidental costs taken under specific conditions | Performance fees and carried interest | There is no performance fee for this product. | EUR 0 | | en | it |
DOLFIN781 | 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
Significant risks not taken into account in this indicator:
Liquidity risk: risk linked to the low level of liquidity on the underlying markets, which makes them sensitive to significant buy/sell trends.
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Return potentially lower
Return potentially higher
Derivative risk: the use of derivatives may cause a greater drop in the value of net assets than that of the markets in which they are invested.
Counterparty risk: this is the risk that a market participant will default, preventing them from honouring their commitments in respect of your portfolio.
The above indicator is calculated on the basis of historical data and may, therefore, not be a reliable indication of the future risk profile of the UCITS. It is not certain that the risk and reward category shown will remain unchanged and the classification may change over time. Category 1 does not mean that an investment is risk-free. Repayment of the initial investment is not guaranteed.
This sub-fund is rated in category 5, in line with the type of securities and geographic regions presented under the heading "Objectives and investment policy", as well as the currency of the share.
The occurrence of any of these risks may negatively impact the net asset value.
| One-off charges taken before or after you invest |
| --- |
| Entry charge | 3.00% |
| Exit charge | None |
| 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 UCITS over a year |
| Ongoing charges | 1.52% |
| Charges taken from the UCITS under certain specific conditions |
| Performance fee 15% per year of the outperformance compared to the benchmark index. In the event of the outperformance of the unit of the sub-fund compared to its benchmark index, and even if its performance is negative, an outperformance fee may be charged for the reference period. | | # Perfil de riesgo y de remuneración
Menor riesgo Mayor riesgo
Riesgos importantes que no se tienen en cuenta en este indicador:
Riesgo de liquidez: riesgo ligado a la poca liquidez de los mercados subyacentes, lo cual los hace sensibles a movimientos significativos de compra/venta.
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Remuneración potencialmente menor
Remuneración potencialmente mayor
Riesgo vinculado a los derivados: recurrir a instrumentos derivados puede provocar una caída del patrimonio neto más significativa que la de los mercados en los que se invierte.
Riesgo vinculado a las contrapartes: representa el riesgo de impago por parte de un participante en el mercado que le impide cumplir sus compromisos en relación con su cartera.
El indicador anterior se calcula sobre la base de datos históricos y, por tanto, puede no ser una indicación fiable del perfil de riesgo futuro del OICVM. No es seguro que la categoría de riesgo y remuneración permanezca inalterada y es probable que la clasificación cambie con el tiempo. La categoría 1 no es sinónimo de inversión sin riesgo. El reembolso de la inversión inicial no está garantizado.
Este subfondo está clasificado en la categoría 5, de acuerdo con la naturaleza de los títulos y las zonas geográficas presentadas en la sección “Objetivos y política de inversión”, así como la divisa propia de la acción.
La ocurrencia de uno de estos riesgos puede suponer una reducción del valor liquidativo.
| Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión |
| --- |
| Gastos de entrada | 3,00% |
| Gastos de salida | No procede |
| Este es el máximo que puede detraerse de su capital antes de proceder a la inversión/antes de que se le distribuyan los ingresos de su inversión. |
| Gastos detraídos del OICVM a lo largo de un año |
| Gastos corrientes | 1,52% |
| Gastos detraídos del OICVM en determinadas condiciones específicas |
| Comisión de rentabilidad 15% anual de la rentabilidad superior al índice de referencia. Si la rentabilidad de la acción del Subfondo es superior a la del índice de referencia (incluso si se trata de un valor negativo), es posible que se aplique una comisión sobre rentabilidad en el periodo de referencia. | | # Risk and reward profile
Lower risk Higher risk
Significant risks not taken into account in this indicator:
Liquidity risk: risk linked to the low level of liquidity on the underlying markets, which makes them sensitive to significant buy/sell trends.
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |
Return potentially lower
Return potentially higher
Derivative risk: the use of derivatives may cause a greater drop in the value of net assets than that of the markets in which they are invested.
Counterparty risk: this is the risk that a market participant will default, preventing them from honouring their commitments in respect of your portfolio.
The above indicator is calculated on the basis of historical data and may, therefore, not be a reliable indication of the future risk profile of the UCITS. It is not certain that the risk and reward category shown will remain unchanged and the classification may change over time. Category 1 does not mean that an investment is risk-free. Repayment of the initial investment is not guaranteed.
This sub-fund is rated in category 5, in line with the type of securities and geographic regions presented under the heading "Objectives and investment policy", as well as the currency of the share.
The occurrence of any of these risks may negatively impact the net asset value.
| One-off charges taken before or after you invest |
| --- |
| Entry charge | 3.00% |
| Exit charge | None |
| 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 UCITS over a year |
| Ongoing charges | 1.52% |
| Charges taken from the UCITS under certain specific conditions |
| Performance fee 15% per year of the outperformance compared to the benchmark index. In the event of the outperformance of the unit of the sub-fund compared to its benchmark index, and even if its performance is negative, an outperformance fee may be charged for the reference period. | | en | es |
DOLFIN782 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Early termination of a Fund
The Directors may terminate a Fund in accordance with the provisions set forth under section entitled "Merger, Liquidation and Reorganization of Funds". In the event of early termination, the Fund concerned would have to distribute to the Shareholders their pro rata interest in the assets of that Fund. It is possible that at the time of such sale or distribution, certain investments held by the Fund concerned may be worth less than the initial cost of such investments, thereby resulting in a substantial loss to the Shareholders concerned. | # Vorzeitige Auflösung eines Fonds
Der Verwaltungsrat kann einen Fonds im Einklang mit den unter dem Abschnitt „Fusion, Liquidation und Neuordnung von Fonds“ aufgeführten Bestimmungen auflösen. Im Falle einer vorzeitigen Auflösung müsste der betreffende Fonds an die Anteilinhaber den Betrag ihrer jeweiligen Beteiligung an diesem Fonds auszahlen. Es ist möglich, dass bestimmte Anlagen zum Zeitpunkt eines für eine solche Auszahlung erforderlichen Verkaufs weniger wert sind als die ursprünglichen Kosten dieser Anlage, was für den betreffenden Anteilinhaber einen erheblichen Verlust bedeuten könnte. | # Early termination of a Fund
The Directors may terminate a Fund in accordance with the provisions set forth under section entitled "Merger, Liquidation and Reorganization of Funds". In the event of early termination, the Fund concerned would have to distribute to the Shareholders their pro rata interest in the assets of that Fund. It is possible that at the time of such sale or distribution, certain investments held by the Fund concerned may be worth less than the initial cost of such investments, thereby resulting in a substantial loss to the Shareholders concerned. | en | de |
DOLFIN783 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
If the performance since the beginning of the financial year exceeds the performance of the reference indicator and if no past underperformance still needs to be offset, a daily provision of up to 20% of this outperformance is established. In the event of underperformance in relation to the reference indicator, a daily amount corresponding to a maximum of 20% of this underperformance is deducted from the provision established since the beginning of the year. For the A and E units, the applicable rate for the performance fee is 20%. Any underperformance of the unit class against the reference indicator over the five-year reference period or since launch (whichever period is shorter) is made up before a performance fee becomes payable. If another year of underperformance occurred within this first five-year period and it was not made up at the end of this first period, a new period of a maximum of five years begins from this new year of underperformance. The fund’s performance is represented by its gross assets, net of all fees, before provision of the performance fee and taking into account subscriptions and redemptions. The performance fee may also be payable if the unit outperformed the reference indicator but posted a negative performance. If the fund is eligible for the booking of a performance fee, then:
- In the event of subscriptions, a system for neutralising the volume effect of these units on the performance fee is applied. This involves systematically deducting the share of the performance fee actually booked as a result of these newly subscribed units from the daily provision;
- In the event of redemptions, the portion of the performance fee provision corresponding to redeemed shares is transferred to the management company under the crystallisation principle. | Si la rentabilidad desde el inicio del ejercicio supera la rentabilidad del indicador de referencia, y si no debe recuperarse todavía ninguna rentabilidad inferior pasada, se constituirá una provisión diaria del 20% como máximo de dicha diferencia de rentabilidad. En caso de diferencia negativa de rentabilidad respecto al indicador de referencia, se realizará una recuperación diaria de la provisión de un 20% como máximo de dicha diferencia de rentabilidad hasta el importe de las dotaciones constituidas desde el comienzo del año. Para las participaciones A y E, el porcentaje efectivo de la comisión de rentabilidad asciende al 20%. Cualquier rentabilidad inferior de la participación con respecto al indicador de referencia durante el periodo de referencia de 5 años o desde el lanzamiento de la participación (se utiliza el periodo más corto) se recuperará antes de que una comisión de rentabilidad resulte exigible. Si se registra otro año de rentabilidad inferior durante este primer periodo de 5 años y dicha rentabilidad inferior no se recupera al final de este primer periodo, comienza otro nuevo periodo de 5 años como máximo a partir de este nuevo año de rentabilidad inferior. La rentabilidad del fondo se expresa a través del valor de sus activos brutos, neto de gastos, antes de la provisión de la comisión de rentabilidad y teniendo en cuenta las suscripciones y los reembolsos. La comisión de rentabilidad también resultará pagadera si la participación obtiene una rentabilidad negativa pero superior a la del índice de referencia. Si el fondo es elegible para la provisión de una comisión de rentabilidad, entonces:
- En los casos de suscripción, se aplicará un mecanismo de neutralización del «efecto volumen» de estas participaciones suscritas en el cálculo de la comisión de rentabilidad. Se trata de retirar sistemáticamente de la provisión diaria la parte proporcional de la comisión de rentabilidad efectivamente provisionada generada por estas nuevas participaciones suscritas.
- En los casos de reembolso, se abonará a la sociedad gestora la parte proporcional de la provisión de la comisión de rentabilidad correspondiente a las participaciones reembolsadas, de acuerdo con el principio de «cristalización». | If the performance since the beginning of the financial year exceeds the performance of the reference indicator and if no past underperformance still needs to be offset, a daily provision of up to 20% of this outperformance is established. In the event of underperformance in relation to the reference indicator, a daily amount corresponding to a maximum of 20% of this underperformance is deducted from the provision established since the beginning of the year. For the A and E units, the applicable rate for the performance fee is 20%. Any underperformance of the unit class against the reference indicator over the five-year reference period or since launch (whichever period is shorter) is made up before a performance fee becomes payable. If another year of underperformance occurred within this first five-year period and it was not made up at the end of this first period, a new period of a maximum of five years begins from this new year of underperformance. The fund’s performance is represented by its gross assets, net of all fees, before provision of the performance fee and taking into account subscriptions and redemptions. The performance fee may also be payable if the unit outperformed the reference indicator but posted a negative performance. If the fund is eligible for the booking of a performance fee, then:
- In the event of subscriptions, a system for neutralising the volume effect of these units on the performance fee is applied. This involves systematically deducting the share of the performance fee actually booked as a result of these newly subscribed units from the daily provision;
- In the event of redemptions, the portion of the performance fee provision corresponding to redeemed shares is transferred to the management company under the crystallisation principle. | en | es |
DOLFIN784 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
| Performance Table | | | | | Top 10 Holdings | |
| --- | --- | --- | --- | --- | --- | --- |
| | Fund | Benchmark | Difference | | Holding | |
| 1 Month | -1.82% | -1.24% | -0.58% | | Zenkoku Hosho Co Ltd | 3.14% |
| 3 Months | 6.09% | 6.33% | -0.24% | | Sumitomo Mitsui Financial Gr | 3.08% |
| 6 Months | 5.27% | 6.74% | -1.47% | | Shin-Etsu Chemical Co Ltd | 3.03% |
| YTD | 10.61% | 13.03% | -2.42% | | Sony Corp | 3.00% |
| 1 Year | 27.12% | 30.75% | -3.63% | | Keyence Corp | 2.93% |
| 3 Years Annualised | 15.07% | 9.88% | 5.19% | | Tokio Marine Holdings Inc | 2.91% |
| 5 Years Annualised | 10.96% | 10.11% | 0.85% | | Tokyo Electron Ltd | 2.83% |
| 7 Years Annualised | 9.25% | 7.94% | 1.31% | | Shimano Inc | 2.70% |
| 10 years annualised | 12.56% | 12.19% | 0.37% | | Mitsui OSK Lines LTD | 2.66% |
| Since Inception Annualised | 4.96% | 2.51% | 2.45% | | Toyota Motor Corp | 2.65% |
| Since Inception | 99.99% | 42.65% | 57.34% | | | | | | Tabella dei rendimenti | | | | | 10 Titoli Principali | |
| --- | --- | --- | --- | --- | --- | --- |
| | Fondo | Indice di riferimento | Differenza | | Titoli | |
| 1 mese | -1,82% | -1,24% | -0,58% | | Zenkoku Hosho Co Ltd | 3,14% |
| 3 mesi | 6,09% | 6,33% | -0,24% | | Sumitomo Mitsui Financial Gr | 3,08% |
| 6 mesi | 5,27% | 6,74% | -1,47% | | Shin-Etsu Chemical Co Ltd | 3,03% |
| Da inizio anno | 10,61% | 13,03% | -2,42% | | Sony Corp | 3,00% |
| 1 anno | 27,12% | 30,75% | -3,63% | | Keyence Corp | 2,93% |
| 3 anni annualizzati | 15,07% | 9,88% | 5,19% | | Tokio Marine Holdings Inc | 2,91% |
| 5 anni annualizzati | 10,96% | 10,11% | 0,85% | | Tokyo Electron Ltd | 2,83% |
| 7 anni annualizzati | 9,25% | 7,94% | 1,31% | | Shimano Inc | 2,70% |
| 10 anni annualizzati | 12,56% | 12,19% | 0,37% | | Mitsui OSK Lines LTD | 2,66% |
| Dalla data di avvio annualizzato | 4,96% | 2,51% | 2,45% | | Toyota Motor Corp | 2,65% |
| Dall’avvio | 99,99% | 42,65% | 57,34% | | | | | | Performance Table | | | | | Top 10 Holdings | |
| --- | --- | --- | --- | --- | --- | --- |
| | Fund | Benchmark | Difference | | Holding | |
| 1 Month | -1.82% | -1.24% | -0.58% | | Zenkoku Hosho Co Ltd | 3.14% |
| 3 Months | 6.09% | 6.33% | -0.24% | | Sumitomo Mitsui Financial Gr | 3.08% |
| 6 Months | 5.27% | 6.74% | -1.47% | | Shin-Etsu Chemical Co Ltd | 3.03% |
| YTD | 10.61% | 13.03% | -2.42% | | Sony Corp | 3.00% |
| 1 Year | 27.12% | 30.75% | -3.63% | | Keyence Corp | 2.93% |
| 3 Years Annualised | 15.07% | 9.88% | 5.19% | | Tokio Marine Holdings Inc | 2.91% |
| 5 Years Annualised | 10.96% | 10.11% | 0.85% | | Tokyo Electron Ltd | 2.83% |
| 7 Years Annualised | 9.25% | 7.94% | 1.31% | | Shimano Inc | 2.70% |
| 10 years annualised | 12.56% | 12.19% | 0.37% | | Mitsui OSK Lines LTD | 2.66% |
| Since Inception Annualised | 4.96% | 2.51% | 2.45% | | Toyota Motor Corp | 2.65% |
| Since Inception | 99.99% | 42.65% | 57.34% | | | | | en | it |
DOLFIN785 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
# Management process
- The Fund is actively managed.
- Through the application of the abrdn Sustainable Equity Investment Approach, the Fund targets an ESG rating that is equal to or better, and a meaningfully lower carbon intensity, than the benchmark.
- Sustainable leaders are viewed as companies with the best in class ESG credentials or products and services which address global environmental and societal challenges, whilst improvers are typically companies with average governance, ESG management practices and disclosure with potential for improvement.
- Engagement with external company management teams is used to evaluate the ownershipstructures, governance and management quality of those companies in order to inform portfolio construction.
- The benchmark is also used as a reference point for portfolio construction and as a basis for setting risk constraints, but does not incorporate any sustainable criteria.
- In order to achieve its objective, the Fund will take positions whose weightings diverge from the benchmark and may invest in securities which are not included in the benchmark. The investments of the Fund may deviate significantly from the components of and their respective weightings in the benchmark.
- Due to the active and sustainable nature of the management process, the Fund's performanceprofile may deviate significantly from that of the benchmark. | # Processo di gestione
- Il Fondo è gestito attivamente.
- Attraverso l'applicazione dell'abrdn Sustainable Equity Investment Approach, il Fondo punta a un punteggio ESG uguale o superiore nonché a un'intensità del carbonio significativamente inferiore rispetto al benchmark.
- Sono considerate leader in termini di sostenibilità le società con le credenziali ESG migliori della categoria o prodotti e servizi che affrontano le sfide globali ambientali e sociali, mentre quelle in via di miglioramento sono di norma società con governance, pratiche di gestione ESG e trasparenza medie con potenziale di miglioramento.
- L'impegno con i team dirigenziali della società esterna viene utilizzato per valutare la qualità delle strutture di proprietà, della governance e del management di tali società al fine di orientare la composizione del portafoglio.
- Il benchmark viene inoltre utilizzato come punto di riferimento per la composizione del portafoglio e come base per definire le limitazioni di rischio, ma non incorpora alcun criterio di sostenibilità.
- Al fine di conseguire il proprio obiettivo, il fondo acquisisce posizioni le cui ponderazioni differiscono dal benchmark e può investire in titoli non compresi nel benchmark. Gli investimenti del fondo potrebbero differire notevolmente dai componenti del benchmark e dalle relative ponderazioni.
- A causa della natura attiva e sostenibile del processo di gestione, il profilo di performance del fondo potrebbe differire notevolmente da quello del benchmark. | # Management process
- The Fund is actively managed.
- Through the application of the abrdn Sustainable Equity Investment Approach, the Fund targets an ESG rating that is equal to or better, and a meaningfully lower carbon intensity, than the benchmark.
- Sustainable leaders are viewed as companies with the best in class ESG credentials or products and services which address global environmental and societal challenges, whilst improvers are typically companies with average governance, ESG management practices and disclosure with potential for improvement.
- Engagement with external company management teams is used to evaluate the ownershipstructures, governance and management quality of those companies in order to inform portfolio construction.
- The benchmark is also used as a reference point for portfolio construction and as a basis for setting risk constraints, but does not incorporate any sustainable criteria.
- In order to achieve its objective, the Fund will take positions whose weightings diverge from the benchmark and may invest in securities which are not included in the benchmark. The investments of the Fund may deviate significantly from the components of and their respective weightings in the benchmark.
- Due to the active and sustainable nature of the management process, the Fund's performanceprofile may deviate significantly from that of the benchmark. | en | it |
DOLFIN786 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
## Quels sont les risques spécifiques associés à ce compartiment?
- Lorsque le Fonds, ou une catégorie d’actions/de parts couverte, vise à atténuer les fluctuations de change d’une devise par rapport à la devise de référence, la stratégie elle-même peut créer un impact positif ou négatif relativement à la valeur du Fonds en raison des différences de taux d’intérêt à court terme entre les devises.
- Le Fonds peut perdre de l’argent si une contrepartie avec laquelle le Fonds négocie ne veut ou ne peut plus honorer ses obligations, ou en raison d’un échec ou d’un retard dans les processus opérationnels ou de la défaillance d’un fournisseur tiers.
- Outre le revenu, cette catégorie d’actions peut distribuer des plus-values réalisées et non réalisées en plus du capital initialement investi. Les frais, charges et dépenses sont également déduits du capital. Les deux facteurs peuvent se traduire par une érosion du capital et un potentiel réduit de croissance du capital. Les investisseurs sont également informés que les distributions de cette nature peuvent être considérés (et imposables) en tant que revenu en fonction de la législation fiscale locale.
- Les actions/parts peuvent perdre rapidement de la valeur et impliquent généralement des niveaux de risques plus élevés que les obligations ou les instruments du marché monétaire. La valeur de votre placement peut par conséquent chuter.
- L’émetteur d’une obligation (ou d’un instrument du marché monétaire) peut devenir incapable ou refuser de payer les intérêts ou de rembourser le capital au Fonds. Si tel est le cas ou si le marché considère cette éventualité comme pertinente, la valeur de l’obligation chutera.
- Lorsque les taux d’intérêt augmentent (ou baissent), le cours des différents titres sera influencé de différentes manières. Plus particulièrement, la valeur des obligations baisse généralement lorsque les taux d’intérêt augmentent. Ce risque est généralement corrélé à l’échéance de l’investissement dans l’obligation.
- Le Fonds investit dans des obligations à haut rendement (non « investment grade ») qui offrent généralement des taux d’intérêt plus élevés que les obligations de type « investment grade », mais qui sont plus spéculatives et plus sensibles aux changements défavorables des conditions du marché.
- Un Fonds fortement exposé à une région géographique ou à un pays donné implique des risques plus importants qu’un Fonds plus largement diversifié.
- Le Fonds peut avoir recours à des instruments dérivés dans le but de réaliser ses objectifs d’investissement. Cela peut générer un « effet delevier », qui peut amplifier les résultats d’un investissement, et les gains ou les pertes pour le Fonds peuvent être supérieurs au coût de l’instrument dérivé. Les instruments dérivés présentent également d’autres risques, et en particulier celui qu’une contrepartie à un instrument dérivé ne respecte pas ses obligations contractuelles.
- Les titres du Fonds peuvent devenir difficiles à valoriser ou à céder au prix ou au moment désiré, surtout dans des conditions de marché extrêmes où les prix des actifs peuvent chuter, ce qui augmente le risque de pertes sur investissements.
- Tout ou partie des frais courants peuvent être prélevés sur le capital, ce qui peut éroder le capital ou réduire le potentiel de croissance du capital. | ## ¿Cuáles son los riesgos específicos de este fondo?
- Cuando el Fondo, o una clase de acciones/participaciones con cobertura, trata de mitigar los movimientos del tipo de cambio de una divisa en relación con la divisa base, la propia estrategia de cobertura puede tener un impacto positivo o negativo en el valor del Fondo debido a las diferencias en los tipos de interés a corto plazo entre las divisas.
- El Fondo podría perder dinero si una contraparte con la que negocia el Fondo no está dispuesto o no es capaz de cumplir sus obligaciones, o como resultado de un fallo o retraso en los procesos operativos o del fallo de un proveedor externo.
- Además de los ingresos, esta clase de acciones podrá distribuir las ganancias de capital realizadas y no realizadas y el capital original invertido. Los honorarios, cargos y gastos también se deducen del capital. Ambos factores pueden dar lugar a una erosión del capital y a una reducción del potencial de crecimiento de capital. Los inversores también deben tener en cuenta que las distribuciones de esta naturaleza pueden ser tratadas (y gravadas) como ingresos dependiendo de la legislación fiscal local.
- Las acciones/participaciones pueden perder valor con rapidez y, por lo general, implican un mayor riesgo que los bonos o los instrumentos del mercado monetario. Como resultado, el valor de su inversión puede bajar.
- Un emisor de un bono (o instrumento del mercado monetario) puede verse imposibilitado o no estar dispuesto a pagar intereses o reembolsar capital al Fondo. Si esto sucede o el mercado percibe que esto puede suceder, el valor del bono caerá.
- Cuando los tipos de interés aumentan (o descienden), los precios de valores diferentes pueden verse afectados de manera diferente. En particular, los valores de bonos suelen descender cuando los tipos de interés aumentan. Este riesgo suele ser mayor cuanto mayor sea el vencimiento de una inversión en bonos.
- El Fondo invierte en bonos de alto rendimiento (sin grado de inversión) y, si bien éstos suelen ofrecer tipos de interés más altos que los bonos de grado de inversión, son más especulativos y más sensibles a los cambios adversos en las condiciones del mercado.
- Si un Fondo tiene una gran exposición a un país o una región geográfica en concreto, lleva un nivel más alto de riesgo que un fondo que está mucho más diversificado.
- El Fondo podrá utilizar derivados con el fin de alcanzar su objetivo de inversión. Esto puede resultar en un "apalancamiento", que puede magnificar el resultado de una inversión y las ganancias o pérdidas para el Fondo pueden ser mayores que el coste del derivado. Los derivados también conllevan otros riesgos, en particular, que la contraparte de un derivado no pueda cumplir con sus obligaciones contractuales.
- Los valores del Fondo podrían resultar difíciles de valorar o de vender en el momento y al precio deseados, especialmente en condiciones de mercado extremas, cuando los precios de los activos pueden estar bajando, lo que aumenta el riesgo de pérdidas en las inversiones.
- Una parte o la totalidad de los gastos en curso del Fondo se pueden tomar del capital, lo que puede debilitar el capital o reducir el potencial de crecimiento de capital. | ## Quels sont les risques spécifiques associés à ce compartiment?
- Lorsque le Fonds, ou une catégorie d’actions/de parts couverte, vise à atténuer les fluctuations de change d’une devise par rapport à la devise de référence, la stratégie elle-même peut créer un impact positif ou négatif relativement à la valeur du Fonds en raison des différences de taux d’intérêt à court terme entre les devises.
- Le Fonds peut perdre de l’argent si une contrepartie avec laquelle le Fonds négocie ne veut ou ne peut plus honorer ses obligations, ou en raison d’un échec ou d’un retard dans les processus opérationnels ou de la défaillance d’un fournisseur tiers.
- Outre le revenu, cette catégorie d’actions peut distribuer des plus-values réalisées et non réalisées en plus du capital initialement investi. Les frais, charges et dépenses sont également déduits du capital. Les deux facteurs peuvent se traduire par une érosion du capital et un potentiel réduit de croissance du capital. Les investisseurs sont également informés que les distributions de cette nature peuvent être considérés (et imposables) en tant que revenu en fonction de la législation fiscale locale.
- Les actions/parts peuvent perdre rapidement de la valeur et impliquent généralement des niveaux de risques plus élevés que les obligations ou les instruments du marché monétaire. La valeur de votre placement peut par conséquent chuter.
- L’émetteur d’une obligation (ou d’un instrument du marché monétaire) peut devenir incapable ou refuser de payer les intérêts ou de rembourser le capital au Fonds. Si tel est le cas ou si le marché considère cette éventualité comme pertinente, la valeur de l’obligation chutera.
- Lorsque les taux d’intérêt augmentent (ou baissent), le cours des différents titres sera influencé de différentes manières. Plus particulièrement, la valeur des obligations baisse généralement lorsque les taux d’intérêt augmentent. Ce risque est généralement corrélé à l’échéance de l’investissement dans l’obligation.
- Le Fonds investit dans des obligations à haut rendement (non « investment grade ») qui offrent généralement des taux d’intérêt plus élevés que les obligations de type « investment grade », mais qui sont plus spéculatives et plus sensibles aux changements défavorables des conditions du marché.
- Un Fonds fortement exposé à une région géographique ou à un pays donné implique des risques plus importants qu’un Fonds plus largement diversifié.
- Le Fonds peut avoir recours à des instruments dérivés dans le but de réaliser ses objectifs d’investissement. Cela peut générer un « effet delevier », qui peut amplifier les résultats d’un investissement, et les gains ou les pertes pour le Fonds peuvent être supérieurs au coût de l’instrument dérivé. Les instruments dérivés présentent également d’autres risques, et en particulier celui qu’une contrepartie à un instrument dérivé ne respecte pas ses obligations contractuelles.
- Les titres du Fonds peuvent devenir difficiles à valoriser ou à céder au prix ou au moment désiré, surtout dans des conditions de marché extrêmes où les prix des actifs peuvent chuter, ce qui augmente le risque de pertes sur investissements.
- Tout ou partie des frais courants peuvent être prélevés sur le capital, ce qui peut éroder le capital ou réduire le potentiel de croissance du capital. | fr | es |
DOLFIN787 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
| Période de détention recommandée : 3 Ans 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 | 3 Ans (période de détention recommandée) |
| Scénario de tensions | Ce que vous pourriez obtenir après déduction des coûts | 6 550 EUR | 7 390 EUR |
| | Rendement annuel moyen | - 34,53 % | - 9,62 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 8 900 EUR | 8 730 EUR |
| | Rendement annuel moyen | - 11,05% | - 4,43% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 030 EUR | 10 710 EUR |
| | Rendement annuel moyen | 0,2% | 2,31% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 160 EUR | 12 000 EUR |
| | Rendement annuel moyen | 11,55% | 6,26% | | | Período de mantenimiento recomendado: 3 Años Inversión: 10 000 EUR |
| --- |
| Escenarios Mínimo: No hay un rendimiento mínimo garantizado. Podría perder parte o la totalidad de su inversión. | 1 Año | 3 Años (período de mantenimiento recomendado) |
| Escenario de tensión | Lo que puede recibir una vez deducidos los costes | 6 550 EUR | 7 390 EUR |
| | Rendimiento medio cada año | - 34,53 % | - 9,62 % |
| Escenario desfavorable | Lo que puede recibir una vez deducidos los costes | 8 900 EUR | 8 730 EUR |
| | Rendimiento medio cada año | - 11,05% | - 4,43% |
| Escenario moderado | Lo que puede recibir una vez deducidos los costes | 10 030 EUR | 10 710 EUR |
| | Rendimiento medio cada año | 0,2% | 2,31% |
| Escenario favorable | Lo que puede recibir una vez deducidos los costes | 11 160 EUR | 12 000 EUR |
| | Rendimiento medio cada año | 11,55% | 6,26% | | | Période de détention recommandée : 3 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 | 3 Ans (période de détention recommandée) |
| Scénario de tensions | Ce que vous pourriez obtenir après déduction des coûts | 6 550 EUR | 7 390 EUR |
| | Rendement annuel moyen | - 34,53 % | - 9,62 % |
| Scénario défavorable | Ce que vous pourriez obtenir après déduction des coûts | 8 900 EUR | 8 730 EUR |
| | Rendement annuel moyen | - 11,05% | - 4,43% |
| Scénario intermédiaire | Ce que vous pourriez obtenir après déduction des coûts | 10 030 EUR | 10 710 EUR |
| | Rendement annuel moyen | 0,2% | 2,31% |
| Scénario favorable | Ce que vous pourriez obtenir après déduction des coûts | 11 160 EUR | 12 000 EUR |
| | Rendement annuel moyen | 11,55% | 6,26% | | fr | es |
DOLFIN788 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
###### Although the Sub-Funds do not rule out the use of any type of derivative, they generally expect to use the following types, among others:
- financial futures and options, such as futures or options on equities, interest rates, indices, bonds, currencies, commodity indices or other instruments
- forwards, such as foreign exchange contracts (currency forwards)
- swaps (contracts where two parties exchange the returns from two different assets, indices, or baskets of the same), such as foreign exchange, commodity index, interest rate, volatility and variance swaps
- total return swaps (contracts where one party transfers to another party the total performance of a reference obligation, including all interest, fee income, market gains or losses, and credit losses)
- credit derivatives, such as credit default derivatives, credit default swaps (contracts where a bankruptcy, default, or other “credit event” triggers a payment from one party to the other) and credit spread derivatives
- warrants
- mortgage TBAs (securities based on a pool of mortgages that has not yet been finalised but whose overall characteristics are specified)
- structured financial derivatives, such as credit-linked and equity- linked securitiesFutures are generally exchange-traded. All other types of derivatives are generally OTC. For any index-linked derivatives, the index provider determines the rebalancing frequency. The cost is not significant to a Sub-Fund when an index is rebalanced. | ###### Obwohl keine Art von Derivaten zur Verwendung in den Teilfonds ausgeschlossen wird, wird im Allgemeinen unter anderem die Verwendung folgender Arten erwartet:
- Finanzterminkontrakte und Optionen, wie z. B. Futures oder Optionen auf Aktien, Zinssätze, Indizes, Anleihen, Währungen, Rohstoffindizes und sonstige Instrumente
- Forwards, wie z. B. Devisentermingeschäfte (Devisenforwards)
- Swaps (Verträge, bei denen zwei Parteien die Rendite aus zwei verschiedenen Vermögenswerten, Indizes oder Körben austauschen), wie z. B. Devisen-, Rohstoffindex-, Zinssatz-, Volatilitäts- und Varianzswaps
- Total Return Swaps (Verträge, bei denen eine Partei einer anderen die Gesamtperformance einer Referenzverbindlichkeit einschließlich aller Zinsen, Einkünfte aus Gebühren, Marktgewinne oder -verluste sowie Kreditverluste überträgt)
- Kreditderivate, wie z. B. Credit Default Derivatives, Credit Default Swaps (Verträge, bei denen durch eine Insolvenz, einen Ausfall oder ein anderes „Kreditereignis“ eine Zahlung einer Partei an eine andere ausgelöst wird) und Credit Spread Derivatives
- Optionsscheine
- TBA-Wertpapiere (Wertpapiere, die auf einem Hypotheken-Pool basieren, der noch nicht abgeschlossen wurde, dessen allgemeine Merkmale jedoch bestimmt sind)
- strukturierte Finanzderivate, wie z. B. bonitäts- und aktiengebundene WertpapiereFutures werden in der Regel an der Börse gehandelt. Alle anderen Derivatarten sind grundsätzlich außerbörsliche Finanzinstrumente. Bei allen indexgebundenen Derivaten bestimmt der Indexanbieter die Anpassungshäufigkeit. Die Kosten im Falle einer Indexanpassung sind für einen Teilfonds nicht erheblich. | ###### Although the Sub-Funds do not rule out the use of any type of derivative, they generally expect to use the following types, among others:
- financial futures and options, such as futures or options on equities, interest rates, indices, bonds, currencies, commodity indices or other instruments
- forwards, such as foreign exchange contracts (currency forwards)
- swaps (contracts where two parties exchange the returns from two different assets, indices, or baskets of the same), such as foreign exchange, commodity index, interest rate, volatility and variance swaps
- total return swaps (contracts where one party transfers to another party the total performance of a reference obligation, including all interest, fee income, market gains or losses, and credit losses)
- credit derivatives, such as credit default derivatives, credit default swaps (contracts where a bankruptcy, default, or other “credit event” triggers a payment from one party to the other) and credit spread derivatives
- warrants
- mortgage TBAs (securities based on a pool of mortgages that has not yet been finalised but whose overall characteristics are specified)
- structured financial derivatives, such as credit-linked and equity- linked securitiesFutures are generally exchange-traded. All other types of derivatives are generally OTC. For any index-linked derivatives, the index provider determines the rebalancing frequency. The cost is not significant to a Sub-Fund when an index is rebalanced. | en | de |
DOLFIN789 | Translate the following text in en into it. Only provide the translation without any other text. The text to translate:
Amounts due from/to brokers represent payables for securities purchased and receivables for securities sold that have been contracted for but not yet delivered by the end of the year.
-
## Taxation | I crediti da/verso broker rappresentano dei debiti per i titoli acquistati e dei crediti per i titoli venduti negoziati ma non ancora consegnati alla fine dell’esercizio.
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## Regime fiscale | Amounts due from/to brokers represent payables for securities purchased and receivables for securities sold that have been contracted for but not yet delivered by the end of the year.
-
## Taxation | en | it |
DOLFIN790 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# DÉFINITIONS DES RISQUES
Risque de concentration
Dans la mesure où le Produit concentre ses investissements dans un pays, un marché, une industrie ou une classe d'actif, il pourrait subir une perte en capital suite à des évènements défavorables affectant spécifiquement ce pays, ce marché, cette industrie ou cette classe d'actif.
Risque de devise
Le Produit investit dans des marchés étrangers et pourrait être impacté par des variations des cours de change donnant lieu à une augmentation ou une diminution de la valeur des investissements.
Risque de liquidité
This is the risk that an asset cannot be sold at the expected price or within the desired time frame, due to the structural or cyclical narrowness of the market. This risk thus materialises by a decrease in the sale price of the assets concerned and/or a delay in the adjustment or liquidation of the portfolio.
Risque lié aux marchés émergents
Un Produit qui investit sur des marchés émergents plutôt que sur des pays plus développés peut rencon- trer des difficultés lors de l’achat et de la vente de placements. Les marchés émergents sont également plus susceptibles de connaître des incertitudes politiques et les investissements détenus dans ces pays peuvent ne pas bénéficier de la même protection que ceux détenus dans des pays plus développés. Un Produit qui investit sur des marchés émergents plutôt que sur des pays plus développés peut rencon- trer des difficultés lors de l’achat et de la vente de placements. Les marchés émergents sont également plus susceptibles de connaître des incertitudes politiques et les investissements détenus dans ces pays peuvent ne pas bénéficier de la même protection que ceux détenus dans des pays plus développés.
Instruments dérivés utilisés à des fins de couverture
L’utilisation d’instruments dérivés à des fins de couverture sur un marché en hausse peut limiter les gains potentiels.
Risque lié à l'utilisation d'instruments dérivés
Le Produit peut utiliser des instruments dérivés, c'est-à-dire des instruments fi nanciers dont la valeur dépend de celle d'un actif sous-jacent. Or les fluctuations de cours de l'actif sous-jacent, même faibles, peuvent entraîner des changements importants du prix de l'instrument dérivé correspondant. Cela peut entraîner une perte financière pour le produit. NB : le produit utilise des produits dérivés à des fins de couverture.
Risque lié aux investissements ESG
L’intégration de critères ESG dans le processus d’investissement peut avoir un impact sur la perfor- mance du Produit et, par conséquent, ce dernier peut se comporter différemment par rapport à des Produits similaires qui ne sont pas concernés. | # DEFINICIÓN DE LOS RIESGOS
Riesgo de concentración
En la medida en que las inversiones del Producto se concentran en un país, un mercado, un sector o una clase de activos, el Producto puede ser susceptible de registrar una pérdida de capital a causa de los acontecimientos adversos que perjudiquen al país, mercado, sector o clase de activos en cuestión.
Riesgo de divisa
El Producto invierte en los mercados extranjeros y podría verse afectado por las variaciones de los tipos de cambio, dando lugar a un aumento o a una disminución del valor de las inversiones.
Riesgo de liquidez
Este riesgo corresponde a la incapacidad de vender un activo al precio previsto o en el plazo desea- do, debido a la rigidez estructural o cíclica del mercado. Por tanto, este riesgo se materializa en una disminución del precio de cesión de los activos afectados y/o en un retraso en el ajuste o la liquidación de la cartera.
Riesgo de mercados emergentes
Un Producto que invierte en mercados emergentes en lugar de hacerlo en países desarrollados puede encontrar dificultades a la hora de comprar y vender valores. Asimismo, existen más probabilidades de incertidumbre política en los mercados emergentes, y es posible que las inversiones mantenidas en estos países no cuenten con el mismo nivel de protección que las inversiones en países más desar- rollados. Un Producto que invierte en mercados emergentes en lugar de hacerlo en países desarrol- lados puede encontrar dificultades a la hora de comprar y vender valores. Asimismo, existen más pro- babilidades de incertidumbre política en los mercados emergentes, y es posible que las inversiones mantenidas en estos países no cuenten con el mismo nivel de protección que las inversiones en países más desarrollados.
Derivados con fines de cobertura
El uso de derivados con fines de cobertura en un mercado alcista puede limitar las ganancias posibles.
Riesgo relacionado con el uso de instrumentos derivados
El Producto podrá utilizar derivados, es decir, instrumentos financieros cuyo valor depende del valor de un activo subyacente. Las fluctuaciones del precio del activo subyacente, aunque pequeñas, pueden no obstante dar lugar a cambios signifi cativos en el precio del instrumento derivado correspondiente. Esto puede ocasionar una pérdida financiera al Producto. Nota: el Producto utiliza derivados con fines de cobertura.
Riesgo de inversión ESG
La integración de criterios ESG en el proceso de inversión puede afectar al rendimiento del Producto y, por ello, el Producto puede tener un rendimiento diferente en comparación con Productos similares sin dicho enfoque. | # DÉFINITIONS DES RISQUES
Risque de concentration
Dans la mesure où le Produit concentre ses investissements dans un pays, un marché, une industrie ou une classe d'actif, il pourrait subir une perte en capital suite à des évènements défavorables affectant spécifiquement ce pays, ce marché, cette industrie ou cette classe d'actif.
Risque de devise
Le Produit investit dans des marchés étrangers et pourrait être impacté par des variations des cours de change donnant lieu à une augmentation ou une diminution de la valeur des investissements.
Risque de liquidité
This is the risk that an asset cannot be sold at the expected price or within the desired time frame, due to the structural or cyclical narrowness of the market. This risk thus materialises by a decrease in the sale price of the assets concerned and/or a delay in the adjustment or liquidation of the portfolio.
Risque lié aux marchés émergents
Un Produit qui investit sur des marchés émergents plutôt que sur des pays plus développés peut rencon- trer des difficultés lors de l’achat et de la vente de placements. Les marchés émergents sont également plus susceptibles de connaître des incertitudes politiques et les investissements détenus dans ces pays peuvent ne pas bénéficier de la même protection que ceux détenus dans des pays plus développés. Un Produit qui investit sur des marchés émergents plutôt que sur des pays plus développés peut rencon- trer des difficultés lors de l’achat et de la vente de placements. Les marchés émergents sont également plus susceptibles de connaître des incertitudes politiques et les investissements détenus dans ces pays peuvent ne pas bénéficier de la même protection que ceux détenus dans des pays plus développés.
Instruments dérivés utilisés à des fins de couverture
L’utilisation d’instruments dérivés à des fins de couverture sur un marché en hausse peut limiter les gains potentiels.
Risque lié à l'utilisation d'instruments dérivés
Le Produit peut utiliser des instruments dérivés, c'est-à-dire des instruments fi nanciers dont la valeur dépend de celle d'un actif sous-jacent. Or les fluctuations de cours de l'actif sous-jacent, même faibles, peuvent entraîner des changements importants du prix de l'instrument dérivé correspondant. Cela peut entraîner une perte financière pour le produit. NB : le produit utilise des produits dérivés à des fins de couverture.
Risque lié aux investissements ESG
L’intégration de critères ESG dans le processus d’investissement peut avoir un impact sur la perfor- mance du Produit et, par conséquent, ce dernier peut se comporter différemment par rapport à des Produits similaires qui ne sont pas concernés. | fr | es |
DOLFIN791 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
The liability of the Depositary shall not be affected by the fact that it has entrusted all or some of the Fund’s assets in its safekeeping to such third-party delegates.
An up-to-date list of the appointed third-party delegates is available on bbh.com/luxglobalcustodynetworklist.
According to Article 34bis(3) of the Law of 2010, the Depositary and the Fund will ensure that, where (i) the law of a third country requires that certain financial instruments of the Fund be held in custody by a local entity and there is no local entities in that third country subject to effective prudential regulation (including minimum capital requirements) and supervision and (ii) the Fund instructs the Depositary to delegate the safekeeping of these financial instruments to such a local entity, the investors of the Fund shall be duly informed, prior to their investment, of the fact that such delegation is required due to the legal constraints of the law of the third country, of the circumstances justifying the delegation and of the risks involved in such a delegation.
- Conflicts of interestsThe Depositary maintains comprehensive and detailed corporate policies and procedures requiring the Depositary to comply with applicable laws and regulations. The Depositary has policies and procedures governing the management of conflicts of interests. These policies and procedures address conflicts of interests that may arise through the provision of services to the Fund. The Depositary’s policies require that all material conflicts of interests involving internal or external parties are promptly disclosed, escalated to senior management, registered, mitigated and/or prevented, as appropriate. In the event a conflict of interest may not be avoided, the Depositary shall maintain and operate effective organizational and administrative arrangements in order to take all reasonable steps to properly (i) disclose the conflicts of interest to the Fund and to the shareholders and (ii) to manage and monitor such conflicts. The Depositary ensures that employees are informed, trained and advised of conflicts of interests policies and procedures and that duties and responsibilities are segregated appropriately to prevent conflicts of interests issues. Compliance with conflicts of interests policies and procedures is supervised and monitored by the Board of Managers as general partner of the Depositary and by the Depositary’s Authorized Management, as well as the Depositary’s compliance, internal audit and risk management functions. The Depositary shall take all reasonable steps to identify and mitigate potential conflicts of interests. This includes implementing its conflicts of interests policies that are appropriate for the scale, complexity and nature of its business. This policy identifies the circumstances that give rise or may give rise to a conflicts of interests and includes the procedures to be followed and measures to be adopted in order to manage conflicts of interests. A conflict of interests register is maintained and monitored by the Depositary. Also, a conflict of interests register is maintained and monitored by the Management Company. No conflicts of interest between the Depositary and the FIL Group have been reported as of today in these registers. | La responsabilité du Dépositaire n’est pas affectée par le fait qu’il a confié tout ou partie des actifs de la SICAV sous sa garde à ces délégués tiers.
Une liste à jour des délégués tiers nommés est disponible sur bbh.com/luxglobalcustodynetworklist.
Conformément à l’article 34bis(3) de la Loi de 2010, le Dépositaire et la SICAV s’assurent que, lorsque (i) le droit d’un pays tiers exige que certains instruments financiers soient conservés par une entité locale et qu’aucune entité locale de ce pays tiers ne satisfait aux exigences relatives à une réglementation (y compris des exigences minimums de fonds propres) et une surveillance prudentielles efficaces, et que (ii) la SICAV a chargé le Dépositaire de déléguer la conservation de ces instruments financiers à cette entité locale, les investisseurs de la SICAV doivent être dûment informés, avant leur investissement, du fait que cette délégation est rendue nécessaire par les contraintes juridiques de la législation du pays tiers, ainsi que des circonstances justifiant la délégation et des risques inhérents à la délégation.
- Conflits d’intérêtsLe Dépositaire applique des politiques et procédures d’entreprise étendues et détaillées qui lui imposent de respecter les lois et règlements applicables. Le Dépositaire a établi des politiques et procédures qui régissent la gestion des conflits d’intérêts. Ces politiques et procédures portent sur les conflits d’intérêts qui sont susceptibles de survenir lors de la prestation des services à la SICAV. Au titre des politiques du Dépositaire, tous les conflits d’intérêt importants qui impliquent des parties internes ou externes sont rapidement divulgués, déclarés à la direction supérieure, enregistrés, atténués et/ou empêchés, selon le cas. Si un conflit d’intérêts ne peut être évité, le Dépositaire doit établir et exécuter des accords organisationnels et administratifs efficaces afin de prendre toutes les mesures raisonnables pour, de manière correcte, (i) divulguer les conflits d’intérêts à la SICAV et aux actionnaires, et (ii) gérer et surveiller ces conflits. Le Dépositaire veille à ce que les employés soient informés, formés et conseillés en matière de politiques et de procédures de conflit d’intérêts, et à ce que les tâches et responsabilités soient correctement séparées pour prévenir les conflits d’intérêts. Le respect des politiques et procédures relatives aux conflits d’intérêts est surveillé et suivi par le Conseil agissant à titre de partenaire général du Dépositaire et par la Direction autorisée du Dépositaire, ainsi que par les services de conformité, d’audit interne et de gestion des risques du Dépositaire. Le Dépositaire doit prendre toutes les mesures raisonnables en vue d’identifier et d’atténuer les conflits d’intérêts potentiels, notamment en mettant en œuvre des politiques de conflit d’intérêts qui sont adaptées à l’ampleur, à la complexité et à la nature de ses activités. Cette politique identifie les circonstances qui donnent ou pourraient donner lieu à des conflits d’intérêts et comprend les procédures à suivre et les mesures à prendre pour gérer les conflits d’intérêts. Un registre est tenu sur les conflits d’intérêts et surveillé par le Dépositaire. De plus, un registre des conflits d’intérêts est tenu et surveillé par la Société de gestion. À ce jour, aucun conflit d’intérêts entre le Dépositaire et le Groupe FIL n’a été signalé dans ces registres. | The liability of the Depositary shall not be affected by the fact that it has entrusted all or some of the Fund’s assets in its safekeeping to such third-party delegates.
An up-to-date list of the appointed third-party delegates is available on bbh.com/luxglobalcustodynetworklist.
According to Article 34bis(3) of the Law of 2010, the Depositary and the Fund will ensure that, where (i) the law of a third country requires that certain financial instruments of the Fund be held in custody by a local entity and there is no local entities in that third country subject to effective prudential regulation (including minimum capital requirements) and supervision and (ii) the Fund instructs the Depositary to delegate the safekeeping of these financial instruments to such a local entity, the investors of the Fund shall be duly informed, prior to their investment, of the fact that such delegation is required due to the legal constraints of the law of the third country, of the circumstances justifying the delegation and of the risks involved in such a delegation.
- Conflicts of interestsThe Depositary maintains comprehensive and detailed corporate policies and procedures requiring the Depositary to comply with applicable laws and regulations. The Depositary has policies and procedures governing the management of conflicts of interests. These policies and procedures address conflicts of interests that may arise through the provision of services to the Fund. The Depositary’s policies require that all material conflicts of interests involving internal or external parties are promptly disclosed, escalated to senior management, registered, mitigated and/or prevented, as appropriate. In the event a conflict of interest may not be avoided, the Depositary shall maintain and operate effective organizational and administrative arrangements in order to take all reasonable steps to properly (i) disclose the conflicts of interest to the Fund and to the shareholders and (ii) to manage and monitor such conflicts. The Depositary ensures that employees are informed, trained and advised of conflicts of interests policies and procedures and that duties and responsibilities are segregated appropriately to prevent conflicts of interests issues. Compliance with conflicts of interests policies and procedures is supervised and monitored by the Board of Managers as general partner of the Depositary and by the Depositary’s Authorized Management, as well as the Depositary’s compliance, internal audit and risk management functions. The Depositary shall take all reasonable steps to identify and mitigate potential conflicts of interests. This includes implementing its conflicts of interests policies that are appropriate for the scale, complexity and nature of its business. This policy identifies the circumstances that give rise or may give rise to a conflicts of interests and includes the procedures to be followed and measures to be adopted in order to manage conflicts of interests. A conflict of interests register is maintained and monitored by the Depositary. Also, a conflict of interests register is maintained and monitored by the Management Company. No conflicts of interest between the Depositary and the FIL Group have been reported as of today in these registers. | en | fr |
DOLFIN792 | 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 | None |
| Exit charge | None |
| 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 | 1.43% |
| Charges taken from the fund under certain specific conditions |
| Performance fee The performance fee is fixed at 20% of the difference recorded between the Class NAV and the target NAV (initial target NAV adjusted based on the performance of the benchmark index). A performance fee may be paid even in the event of negative performance. Payable annually on 31 December. | | | Gastos no recurrentes percibidos con anterioridad o con posterioridad a la inversión |
| --- |
| Gastos de entrada | Ninguno |
| Gastos de salida | Ninguno |
| Este es el máximo que puede detraerse de su capital antes de proceder a la inversión/antes de que se le distribuyan los ingresos de su inversión. |
| Gastos detraídos del Fondo a lo largo de un año |
| Gastos corrientes | 1,43% |
| Gastos detraídos del Fondo en determinadas condiciones específicas |
| Comisión de rentabilidad La comisión de rentabilidad se fija en el 20% de la diferencia entre el VL de la Clase y el VL objetivo (VL objetivo inicial ajustado por la evolución del índice de referencia). La comisión de rentabilidad puede pagarse incluso en caso de rentabilidad negativa. Se paga anualmente el 31 de diciembre. | | | One-off charges taken before or after you invest |
| --- |
| Entry charge | None |
| Exit charge | None |
| 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 | 1.43% |
| Charges taken from the fund under certain specific conditions |
| Performance fee The performance fee is fixed at 20% of the difference recorded between the Class NAV and the target NAV (initial target NAV adjusted based on the performance of the benchmark index). A performance fee may be paid even in the event of negative performance. Payable annually on 31 December. | | en | es |
DOLFIN793 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
In carrying out its duties the Depositary shall act honestly, fairly, professionally, independently and solely in the interests of the Company and its Shareholder.
The Depositary has functionally and hierarchically separated the performance of its depositary tasks from its other potentially conflicting tasks. The system of internal controls, the different reporting lines, the allocation of tasks and the management reporting allow potential conflicts of interest and the depository issues to be properly identified, managed and monitored.
Additionally, in the context of the Depositary’s use of sub-custodians, the Depositary imposes contractual restrictions to address some of the potential conflicts and maintains due diligence and oversight of sub-custodians to ensure a high level of client service by those agents. The Depositary further provides frequent reporting on clients’ activity and holdings, with the underlying functions subject to internal and external control audits.
Finally, the Depositary internally separates the performance of its custodial tasks from its proprietary activity and follows a Standard of Conduct that requires employees to act ethically, fairly and transparently with clients.
Up-to-date information on the Depositary, its duties, any conflicts that may arise, the safe-keeping functions delegated by the depositary, the list of delegates and sub-delegates and any conflicts of interest that may arise from such a delegation will be made available to Shareholders on request.
The Depositary shall not be liable for the contents of this Prospectus (other than this section), and will not be liable for any insufficient, misleading or unfair information contained herein.
The Depositary Agreement may be terminated by either the Company or the Depositary upon 6 months prior written notice. In that case, a new depositary must be appointed within two months of the termination of the Depositary Agreement, to carry out the duties and assume the responsibilities of the Depositary, as outlined above. | Die Verwahrstelle ist verpflichtet, bei der Durchführung ihrer Aufgaben ehrlich, angemessen, professionell, unabhängig und einzig im Interesse der Gesellschaft und ihrer Anteilinhaber zu handeln.
Die Verwahrstelle hat die Erfüllung ihrer Verwahrungsaufgaben funktional und hierarchisch von ihren anderen, möglicherweise kollidierenden Aufgaben getrennt. Das System interner Kontrollen, die unterschiedlichen Berichtslinien, die Zuteilung von Aufgaben und die Managementberichterstattung ermöglichen, dass potenzielle Interessenkonflikte und Verwahrstellenprobleme ordnungsgemäß identifiziert, verwaltet und überwacht werden können.
Außerdem erlegt die Verwahrstelle im Zusammenhang mit der Nutzung von Unterverwahrstellen durch die Verwahrstelle vertragliche Beschränkungen auf, um einigen der möglichen Konflikte entgegenzutreten, und kommt ihrer Sorgfaltspflicht und der Überwachung der Unterverwahrstellen nach, damit ein hohes Niveau bezüglich des Kundenservices bei diesen Vertretern sichergestellt ist. Darüber hinaus erstattet die Verwahrstelle häufig Bericht über die Aktivität und die Anlagebestände der Kunden, wobei die zugrunde liegenden Funktionen internen und externen Prüfungen unterliegen.
Schließlich nimmt die Verwahrstelle eine interne Trennung der Ausübung ihrer Verwahrungsaufgaben und ihrer eigenen Aktivitäten vor und hält sich an einen Verhaltensstandard, der von den Mitarbeitern verlangt, gegenüber den Kunden ethisch, fair und transparent zu handeln.
Aktuelle Informationen zur Verwahrstelle, ihren Aufgaben, möglichen Konflikten, den von der Verwahrstelle übertragenen Verwahrungsaufgaben, zur Liste der Beauftragten und Unterbeauftragten und zu Interessenkonflikten, die durch eine solche Übertragung entstehen können, werden den Anteilinhabern auf Anfrage zur Verfügung gestellt.
Die Verwahrstelle haftet nicht für den Inhalt dieses Prospekts (mit Ausnahme dieses Abschnitts) und für unzureichende, irreführende oder unbillige Informationen, die darin enthalten sind.
Der Verwahrstellenvertrag kann von der Gesellschaft oder der Verwahrstelle mit einer Frist von sechs Monaten schriftlich gekündigt werden. In diesem Fall muss innerhalb von zwei Monaten nach der Kündigung des Verwahrstellenvertrags eine neue Verwahrstelle ernannt werden, die die vorstehend beschriebenen Pflichten und Aufgaben der Verwahrstelle übernimmt. | In carrying out its duties the Depositary shall act honestly, fairly, professionally, independently and solely in the interests of the Company and its Shareholder.
The Depositary has functionally and hierarchically separated the performance of its depositary tasks from its other potentially conflicting tasks. The system of internal controls, the different reporting lines, the allocation of tasks and the management reporting allow potential conflicts of interest and the depository issues to be properly identified, managed and monitored.
Additionally, in the context of the Depositary’s use of sub-custodians, the Depositary imposes contractual restrictions to address some of the potential conflicts and maintains due diligence and oversight of sub-custodians to ensure a high level of client service by those agents. The Depositary further provides frequent reporting on clients’ activity and holdings, with the underlying functions subject to internal and external control audits.
Finally, the Depositary internally separates the performance of its custodial tasks from its proprietary activity and follows a Standard of Conduct that requires employees to act ethically, fairly and transparently with clients.
Up-to-date information on the Depositary, its duties, any conflicts that may arise, the safe-keeping functions delegated by the depositary, the list of delegates and sub-delegates and any conflicts of interest that may arise from such a delegation will be made available to Shareholders on request.
The Depositary shall not be liable for the contents of this Prospectus (other than this section), and will not be liable for any insufficient, misleading or unfair information contained herein.
The Depositary Agreement may be terminated by either the Company or the Depositary upon 6 months prior written notice. In that case, a new depositary must be appointed within two months of the termination of the Depositary Agreement, to carry out the duties and assume the responsibilities of the Depositary, as outlined above. | en | de |
DOLFIN794 | Translate the following text in en into fr. Only provide the translation without any other text. The text to translate:
# Key Features of the Company
Janus Henderson Horizon Fund (“The Company”)
The Company is an open-ended investment company organised as a société anonyme under the laws of the Grand Duchy of Luxembourg and qualifies as a SICAV. The Company was incorporated in Luxembourg on 30 May 1985 pursuant to the Luxembourg laws of 10 August 1915 on commercial companies (as amended) and is qualified as an undertaking for collective investment in transferable securities under Part I of the Luxembourg law of 17 December 2010 relating to undertakings for collective investment, as amended (the “Law”).
The Company has appointed Henderson Management S.A. as its Management Company.
What are the product characteristics?
In order to meet the specific needs of Shareholders, the Company may create within each Fund different Share Classes whose assets will be commonly invested pursuant to the investment objective of the applicable Fund.
The differences between Share Classes relate notably to the minimum investment amounts, the designated currency, the distribution policy, the type of investor who is eligible to invest, the hedging strategy and the charging structure applicable to each of them.
The Funds offer Distribution Shares and Accumulation Shares. The Company is a type of Collective Investment Scheme, which allows investors to pool their contributions with those of other like-minded people to create a portfolio of assets. A detailed description of the Company and of the rights attaching to the Shares is set out in the section ‘Further Information’ of this Prospectus.
Shares may be bought in the Base Currency of a Fund, or in additional Hedged Share Classes and/or Unhedged Share Classes that are made available from time to time. Shares may also be bought using any major currency accepted by the Registrar and Transfer Agent at the discretion of the Company.
However, if the currency of investment is different from the currency of denomination of the relevant Share Class, then the necessary currency conversion will be arranged on behalf, and at the risk and expense, of the applicant.
For any Unhedged Share Class, a currency conversion to the Base Currency will take place on subscription, redemption, switching and distributions at prevailing exchange rates. The value of any share expressed in a non-base currency which is unhedged will be subject to exchange rate risk in relation to the Base Currency.
An up-to-date list of the share classes available for the Funds can be obtained from the website www.janushenderson.com or from the registered office of the Company. | # Principales caractéristiques de la Société
Janus Henderson Horizon Fund (ci-après « la Société »)
La Société est une société d’investissement à capital variable (SICAV) constituée en société anonyme de droit luxembourgeois. La Société a été constituée à Luxembourg le 30 mai 1985, conformément à la loi luxembourgeoise du 10 août 1915 sur les sociétés commerciales (telle que modifiée) ; elle constitue un organisme de placement collectif en valeurs mobilières au sens de la Partie I de la loi luxembourgeoise du 17 décembre 2010 sur les organismes de placement collectif, telle que modifiée (la « Loi »).
La Société a nommé Henderson Management S.A. en qualité de Société de Gestion.
Les caractéristiques du produit
Afin de répondre aux besoins spécifiques des Actionnaires, la Société peut créer, au sein de chaque Compartiment, différentes Catégories d’Actions dont les actifs seront généralement investis suivant l’objectif d’investissement du Compartiment concerné.
Les différences entre les Catégories d’Actions ont particulièrement trait aux montants d’investissement minimum, à la devise de libellé, à la politique de distribution, au type d’investisseur éligible à l’investissement, à la stratégie de couverture et à la structure de frais applicable à chacune d’entre elles.
Des Actions de Distribution et des Actions de Capitalisation sont émises au sein de tous les Compartiments. La Société est un Organisme de placement collectif permettant aux investisseurs d’opérer une mise en commun de leurs apports avec ceux d’autres investisseurs afin de créer un portefeuille d’actifs. Un descriptif détaillé de la Société et des droits attachés aux Actions figure à la section « Informations complémentaires » du présent Prospectus.
Il est possible d’acheter les Actions dans la Devise de Référence d’un Compartiment ou dans d’autres Catégories d’Actions Couvertes et/ou Non Couvertes proposées ponctuellement. Les Actions peuvent également être achetées avec toute devise importante acceptée par le Teneur de Registre et Agent de Transfert, à la discrétion de la Société.
Toutefois, si la devise d’investissement diffère de la devise de référence de la Catégorie d’Actions concernée, la conversion de change nécessaire sera effectuée pour le compte, aux risques et aux frais du souscripteur concerné.
Pour toute Catégorie d’Actions Non Couvertes, les devises concernées seront converties dans la Devise de Référence selon les taux de change en vigueur lors des souscriptions, rachats, conversions ou distributions. La valeur de toute action exprimée dans une devise qui n’est pas une devise de référence et qui n’est pas couverte sera exposée au risque de fluctuation des taux de change par rapport à la Devise de Référence.
Une liste actualisée des catégories d’actions disponibles eu égard aux Compartiments peut être consultée sur le site Internet www.janushenderson.com ou au siège social de la Société. | # Key Features of the Company
Janus Henderson Horizon Fund (“The Company”)
The Company is an open-ended investment company organised as a société anonyme under the laws of the Grand Duchy of Luxembourg and qualifies as a SICAV. The Company was incorporated in Luxembourg on 30 May 1985 pursuant to the Luxembourg laws of 10 August 1915 on commercial companies (as amended) and is qualified as an undertaking for collective investment in transferable securities under Part I of the Luxembourg law of 17 December 2010 relating to undertakings for collective investment, as amended (the “Law”).
The Company has appointed Henderson Management S.A. as its Management Company.
What are the product characteristics?
In order to meet the specific needs of Shareholders, the Company may create within each Fund different Share Classes whose assets will be commonly invested pursuant to the investment objective of the applicable Fund.
The differences between Share Classes relate notably to the minimum investment amounts, the designated currency, the distribution policy, the type of investor who is eligible to invest, the hedging strategy and the charging structure applicable to each of them.
The Funds offer Distribution Shares and Accumulation Shares. The Company is a type of Collective Investment Scheme, which allows investors to pool their contributions with those of other like-minded people to create a portfolio of assets. A detailed description of the Company and of the rights attaching to the Shares is set out in the section ‘Further Information’ of this Prospectus.
Shares may be bought in the Base Currency of a Fund, or in additional Hedged Share Classes and/or Unhedged Share Classes that are made available from time to time. Shares may also be bought using any major currency accepted by the Registrar and Transfer Agent at the discretion of the Company.
However, if the currency of investment is different from the currency of denomination of the relevant Share Class, then the necessary currency conversion will be arranged on behalf, and at the risk and expense, of the applicant.
For any Unhedged Share Class, a currency conversion to the Base Currency will take place on subscription, redemption, switching and distributions at prevailing exchange rates. The value of any share expressed in a non-base currency which is unhedged will be subject to exchange rate risk in relation to the Base Currency.
An up-to-date list of the share classes available for the Funds can be obtained from the website www.janushenderson.com or from the registered office of the Company. | en | fr |
DOLFIN795 | Translate the following text in en into es. Only provide the translation without any other text. The text to translate:
# What is this product?
TYPE
The Fund was incorporated as a société anonyme, an open-ended fund formed under the amended law of 17 December 2010 on undertakings for collective investment. It is an umbrella fund with multiple compartments, the Sub-Fund being one of these compartments. The Shares are a class of shares in the Sub-Fund.
OBJECTIVE
This actively managed Sub-Fund aims to achieve the highest possible capital growth. It is categorized as Article 8 SFDR. More details can be found in the prospectus.
The sub-fund mainly invests in equities and equity-like securities (including transferable securities that are qualified as closed-ended real estate investment trusts, participation certificates) issued by companies worldwide (including emerging markets). It may invest up to 35% via Shanghai-Hong Kong Stock Connect and Shenzhen Hong Kong Stock Connect in China A-Shares.
The sub-fund invests in a portfolio of stocks in companies around the world with high profit growth and high profitability.
Up to 33% of the Sub-Fund's assets may be invested outside the aforementioned investment universe, in other securities, instruments, asset classes, in money market instruments and bank deposits to achieve the investment objective and/or for liquidity management. It may also hold up to 20% of its net assets in bank deposits at sight.
The sub-fund may use derivatives for hedging purposes.
Redemption of shares: daily when banks in Luxembourg are open for normal business (see prospectus for details and exceptions). Any income generated will be reinvested and included in the value of your shares.
The sub-fund is not managed with reference to a benchmark. The portfolio manager has full investment discretion within the predefined investment limits.
G shares are reserved exclusively for institutional investors who invest at least 50 million USD.
Taking into consideration the minimum recommended holding period, the return will depend on the performance of the underlying investments. The fund's depositary is RBC Investor Services Bank S.A.
This sub-fund is part of an umbrella fund. The various sub-funds are not liable for one another, i.e. only the gains and losses of this sub-fund are relevant for you as an investor. You can request the conversion of some or all of your shares in the sub-fund in accordance with the "Conversion of shares" section, unless stipulated otherwise in the special part of the sales prospectus.
The sales prospectus, including pre-contractual SFDR disclosures, up-to-date semi-annual and annual reports, share prices and other practical information are available free of charge at www.vontobel.com/AM in English and German.
INTENDED RETAIL INVESTOR
The sub-fund is intended for retail investors with knowledge and/or experience of these types of products, that have obtained appropriate investment advice, that have long-term investment horizon and that have the ability to bear losses up to the amount they have invested in the sub-fund.
TERM
The Shares do not have a maturity date. The PRIIP Manufacturer can terminate the Shares unilaterally. The Shares, the Sub-Fund and the Fund can be terminated early and liquidated in the cases set out in the prospectus and the articles of incorporation of the Fund. | # ¿Qué es este producto?
TIPO
El Fondo se constituyó como société anonyme, un fondo abierto creado con arreglo a la ley modificada de 17 de diciembre de 2010 sobre organismos de inversión colectiva. Es un fondo paraguas con múltiples compartimentos, siendo el Compartimento uno de ellos. Las Acciones son una clase de acciones del Compartimento.
OBJETIVOS
Este compartimento de gestión activa tiene como objetivo lograr el mayor crecimiento del capital posible. Se enmarca en el artículo 8 del SFDR. Puede obtener más información en el folleto.
El compartimento invierte principalmente en títulos de renta variable y títulos similares a la renta variable (incluidos valores mobiliarios calificados como fondos de inversión inmobiliaria cerrados, bonos de participación) emitidos por empresas de todo el mundo (incluidos los mercados emergentes). Puede invertir hasta el 35 % en acciones A de China a través de los programas Shanghai-Hong Kong Stock Connect y Shenzhen-Hong Kong Stock Connect.
El compartimento invierte en una cartera de acciones de empresas de todo el mundo con un elevado crecimiento de los beneficios y una alta rentabilidad.
Hasta el 33 % de los activos del compartimento podrá invertirse fuera del universo de inversión anteriormente mencionado, en otros títulos, instrumentos, clases de activos, en instrumentos del mercado monetario y depósitos bancarios para alcanzar el objetivo de inversión y/o para la gestión de la liquidez. También puede mantener hasta el 20 % de sus activos netos en depósitos bancarios a la vista.
El compartimento puede utilizar derivados con fines de cobertura.
Reembolso de participaciones: todos los días en que los bancos se encuentren abiertos en Luxemburgo para el desempeño normal de su actividad (consulte el folleto para obtener información detallada y excepciones).
Los ingresos generados se reinvertirán e incluirán en el valor de sus acciones.
El compartimento no se gestiona en relación con un índice de referencia. El gestor de carteras dispone de plena discrecionalidad de inversión dentro de los límites específicos definidos.
G shares are reserved exclusively for institutional investors who invest at least 50 million USD.
Teniendo en cuenta el periodo de mantenimiento mínimo recomendado, la rentabilidad dependerá de la evolución de las inversiones subyacentes.
El depositario del fondo es RBC Investor Services Bank S.A.
Este compartimento forma parte de un fondo paraguas. Los distintos compartimentos no son responsables unos de otros, es decir, solo las ganancias y pérdidas de este compartimento tienen relevancia para usted como inversor. Los inversores pueden solicitar la conversión de sus participaciones, en su totalidad o en parte, de conformidad con el apartado Conversion of Shares («Conversión de participaciones»), salvo que se indique otra cosa en la parte especial del folleto de venta.
El folleto de venta, incluyendo la divulgación precontractual de información relativa al SFDR, los informes semestral y anual actualizados, los precios de las acciones y otra información práctica, están disponibles gratuitamente en www.vontobel.com/AM en inglés y alemán.
INVERSOR MINORISTA AL QUE VA DIRIGIDO
El compartimento está destinado a inversores minoristas con conocimientos y/o experiencia en este tipo de productos, que hayan obtenido un asesoramiento de inversión adecuado, que tengan un horizonte de inversión a largo plazo y capacidad para soportar pérdidas hasta el importe que hayan invertido en el compartimento.
PLAZO
Las Acciones no tienen fecha de vencimiento. El productor del PRIIP puede rescindir las Acciones unilateralmente. Las Acciones, el Compartimento y el Fondo pueden rescindirse anticipadamente y liquidarse en los casos previstos en el folleto y los estatutos del Fondo. | # What is this product?
TYPE
The Fund was incorporated as a société anonyme, an open-ended fund formed under the amended law of 17 December 2010 on undertakings for collective investment. It is an umbrella fund with multiple compartments, the Sub-Fund being one of these compartments. The Shares are a class of shares in the Sub-Fund.
OBJECTIVE
This actively managed Sub-Fund aims to achieve the highest possible capital growth. It is categorized as Article 8 SFDR. More details can be found in the prospectus.
The sub-fund mainly invests in equities and equity-like securities (including transferable securities that are qualified as closed-ended real estate investment trusts, participation certificates) issued by companies worldwide (including emerging markets). It may invest up to 35% via Shanghai-Hong Kong Stock Connect and Shenzhen Hong Kong Stock Connect in China A-Shares.
The sub-fund invests in a portfolio of stocks in companies around the world with high profit growth and high profitability.
Up to 33% of the Sub-Fund's assets may be invested outside the aforementioned investment universe, in other securities, instruments, asset classes, in money market instruments and bank deposits to achieve the investment objective and/or for liquidity management. It may also hold up to 20% of its net assets in bank deposits at sight.
The sub-fund may use derivatives for hedging purposes.
Redemption of shares: daily when banks in Luxembourg are open for normal business (see prospectus for details and exceptions). Any income generated will be reinvested and included in the value of your shares.
The sub-fund is not managed with reference to a benchmark. The portfolio manager has full investment discretion within the predefined investment limits.
G shares are reserved exclusively for institutional investors who invest at least 50 million USD.
Taking into consideration the minimum recommended holding period, the return will depend on the performance of the underlying investments. The fund's depositary is RBC Investor Services Bank S.A.
This sub-fund is part of an umbrella fund. The various sub-funds are not liable for one another, i.e. only the gains and losses of this sub-fund are relevant for you as an investor. You can request the conversion of some or all of your shares in the sub-fund in accordance with the "Conversion of shares" section, unless stipulated otherwise in the special part of the sales prospectus.
The sales prospectus, including pre-contractual SFDR disclosures, up-to-date semi-annual and annual reports, share prices and other practical information are available free of charge at www.vontobel.com/AM in English and German.
INTENDED RETAIL INVESTOR
The sub-fund is intended for retail investors with knowledge and/or experience of these types of products, that have obtained appropriate investment advice, that have long-term investment horizon and that have the ability to bear losses up to the amount they have invested in the sub-fund.
TERM
The Shares do not have a maturity date. The PRIIP Manufacturer can terminate the Shares unilaterally. The Shares, the Sub-Fund and the Fund can be terminated early and liquidated in the cases set out in the prospectus and the articles of incorporation of the Fund. | en | es |
DOLFIN796 | Translate the following text in fr into es. Only provide the translation without any other text. The text to translate:
# Objectifs et politique d'investissement
L'objectif de placement du compartiment est de surperformer l'indice de référence, l'indice MSCI World Net Total Return EUR (indice MSDEWIN). Ces placements en actions et autres titres de participation sont effectués à l'échelle mondiale. Le compartiment bénéficie d’une gestion active. Le compartiment est un fonds investi en actions.
La part des actions dans les actifs du compartiment sera toujours d'au moins 51 % (brut). Lors de l'acquisition d'actions, le fonds a la possibilité d'acquérir des actions A chinoises éligibles par le biais du programme Shanghai and Shenzhen Hong Kong Stock Connect (« SHSC »). L'utilisation du programme SHSC constitue une opportunité d'investissement supplémentaire pour le fonds.
Le compartiment n'acquiert pas de parts de fonds (OPCVM et/ou OPC), quelle que soit leur forme juridique. Le compartiment est donc éligible en tant que fonds cible au sens de l’article 41, paragraphe 1, point e), de la loi de 2010.
L'article 8 du règlement (UE) 2019/2088 et l'article 6 du règlement (UE) 2020/852 (taxonomie de l'UE) s'appliquent à ce compartiment. MainFirst Holding AG a signé les Principes pour l'Investissement Responsable (UN PRI - United Nations supported Principles for Responsible Investment). La stratégie en matière de durabilité du compartiment vise à présenter un profil de risque ESG meilleur que l'indice de référence, en moyenne. L'indice de référence sur lequel s'appuie la stratégie d'investissement du compartiment n'est pas axé sur les caractéristiques environnementales et sociales du fonds. Une description de la méthode de calcul de l'indice de référence est disponible sur www.msci.com. Des informations détaillées sur les principes de l’investissement responsable de la Société de gestion ainsi que le détail des agences de notation de développement durable employées sont disponibles sur www.mainfirst.com.
Les investisseurs peuvent en principe demander le rachat de leurs parts chaque jour ouvrable bancaire au Luxembourg, à l'exception des 24 et 31 décembre. Le rachat des parts peut être suspendu si des circonstances exceptionnelles le justifient dans l'intérêt des investisseurs. | # Objetivos y política de inversión
El objetivo de inversión del subfondo es superar la rentabilidad del índice de referencia MSCI World Net Total Return EUR Index (índice MSDEWIN). Estas inversiones en acciones y otros valores de participación se realizan en todo el mundo. Es un subfondo de gestión activa. Este subfondo es un fondo de acciones.
El porcentaje de acciones del patrimonio del subfondo será siempre de al menos el 51 % (bruto). A la hora de adquirir acciones, el fondo tiene la opción de adquirir acciones A chinas elegibles a través del programa Shanghai and Shenzhen Hong Kong Stock Connect («SHSC»). El uso del programa SHSC sirve como una oportunidad de inversión adicional para el fondo.
El subfondo no adquiere participaciones en fondos (OICVM u OIC), independientemente de su forma jurídica. Por lo tanto, el subfondo puede concebirse como fondo objetivo de conformidad con el artículo 41 (1) e) de la Ley de 2010.
El artículo 8 del Reglamento (UE) 2019/2088 y el artículo 6 del Reglamento (UE) 2020/852 (Taxonomía de la UE) se aplican a este subfondo. La MainFirst Holding AG, a la que pertenece el gestor de inversiones del subfondo, ha firmado los Principios para la Inversión Responsable promovidos por las Naciones Unidas (UN PRI, United Nations-supported Principles for Responsible Investment). La estrategia de sostenibilidad del subfondo tiene como objetivo presentar, de media, un perfil de riesgo ASG mejor que el del índice de referencia. El índice de referencia en el que se orienta la estrategia de inversión del subfondo no está orientado a las características medioambientales y sociales del fondo. Se puede consultar una descripción del método de cálculo del índice de referencia en www.msci.com. Puede encontrar información detallada sobre los principios de inversión responsable de la sociedad gestora y el nombre de las agencias de calificación de la sostenibilidad consultadas en www.mainfirst.com.
Por regla general, los inversores podrán reembolsar sus participaciones en cualquier día hábil a efectos bancarios en Luxemburgo, a excepción del 24 y el 31 de diciembre. Se podrá suspender el reembolso de las participaciones si esta medida resulta necesaria a la luz de circunstancias extraordinarias y teniendo en cuenta los intereses de los inversores. | # Objectifs et politique d'investissement
L'objectif de placement du compartiment est de surperformer l'indice de référence, l'indice MSCI World Net Total Return EUR (indice MSDEWIN). Ces placements en actions et autres titres de participation sont effectués à l'échelle mondiale. Le compartiment bénéficie d’une gestion active. Le compartiment est un fonds investi en actions.
La part des actions dans les actifs du compartiment sera toujours d'au moins 51 % (brut). Lors de l'acquisition d'actions, le fonds a la possibilité d'acquérir des actions A chinoises éligibles par le biais du programme Shanghai and Shenzhen Hong Kong Stock Connect (« SHSC »). L'utilisation du programme SHSC constitue une opportunité d'investissement supplémentaire pour le fonds.
Le compartiment n'acquiert pas de parts de fonds (OPCVM et/ou OPC), quelle que soit leur forme juridique. Le compartiment est donc éligible en tant que fonds cible au sens de l’article 41, paragraphe 1, point e), de la loi de 2010.
L'article 8 du règlement (UE) 2019/2088 et l'article 6 du règlement (UE) 2020/852 (taxonomie de l'UE) s'appliquent à ce compartiment. MainFirst Holding AG a signé les Principes pour l'Investissement Responsable (UN PRI - United Nations supported Principles for Responsible Investment). La stratégie en matière de durabilité du compartiment vise à présenter un profil de risque ESG meilleur que l'indice de référence, en moyenne. L'indice de référence sur lequel s'appuie la stratégie d'investissement du compartiment n'est pas axé sur les caractéristiques environnementales et sociales du fonds. Une description de la méthode de calcul de l'indice de référence est disponible sur www.msci.com. Des informations détaillées sur les principes de l’investissement responsable de la Société de gestion ainsi que le détail des agences de notation de développement durable employées sont disponibles sur www.mainfirst.com.
Les investisseurs peuvent en principe demander le rachat de leurs parts chaque jour ouvrable bancaire au Luxembourg, à l'exception des 24 et 31 décembre. Le rachat des parts peut être suspendu si des circonstances exceptionnelles le justifient dans l'intérêt des investisseurs. | fr | es |
DOLFIN797 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
# Appendix E – Custodian / Sub-Custodians
The Custodian for the Trusts is Northern Trust. A list of the Sub-Custodians is as follows:
Market Sub Custodian
Australia HSBC Bank Australia Limited
Austria UniCredit Bank Austria A.G
Bahrain HSBC Bank Middle East Limited
Bangladesh Standard Chartered Bank
Belgium Deutsche Bank AG
Bermuda HSBC Bank Bermuda Limited
Bosnia and Herzegovina Raiffeisen Bank International AG (Federation of Bosnia-Herzegovina)
Bosnia and Herzegovina (Republic of Srpska) Raiffeisen Bank International AG
Botswana Standard Chartered Bank Botswana Limited
Brazil Citibank, N.A., Brazilian Branch
Bulgaria Citibank Europe plc
Canada The Northern Trust Company, Canada
Chile Banco de Chile
China A Share HSBC Bank (China) Company Limited
China B Share HSBC Bank (China) Company Limited
Colombia Cititrust Colombia S.A. Sociedad Fiduciaria
Costa Rica Banco Nacional de Costa Rica
Cyprus Citibank Europe plc
Czech Republic UniCredit Bank Czech Republic and Slovakia, a.s.
Denmark Nordea Bank Abp
Egypt Citibank, N.A., Cairo Branch
Estonia Swedbank AS
Euroclear Euroclear Bank S.A./N.V.
Finland Nordea Bank Abp
France The Northern Trust Company
Germany Deutsche Bank AG
Ghana Standard Chartered Bank Ghana Limited
Greece Citibank Europe plc
Hong Kong The Hongkong and Shanghai Banking Corporation Limited Hong Kong – HK Stock Connect The Hongkong and Shanghai Banking Corporation Limited Hungary UniCredit Bank Hungary Zrt
India Citibank, N.A.
Indonesia Standard Chartered Bank
Ireland Euroclear UK and Ireland Limited (Northern Trust self-custody)*
Israel Bank Leumi Le-Israel B.M.
Italy Deutsche Bank SpA
Japan The Hongkong and Shanghai Banking Corporation Limited
Jordan Standard Chartered Bank
Kazakhstan Citibank Kazakhstan JSC
Kenya Standard Chartered Bank Kenya Limited
Kuwait HSBC Bank Middle East Limited
Latvia Swedbank AS
Lebanon HSBC Bank Middle East Limited
Lithuania AB SEB Bankas
Luxembourg Euroclear Bank S.A./N.V.
Malaysia HSBC Bank Malaysia Berhad
Mauritius The Hongkong and Shanghai Banking Corporation Limited
Mexico Banco Nacional de Mexico S.A. integrante del Grupo Financiero Banamex
Morocco Societe Generale Marocaine de Banques
Namibia Standard Bank Namibia Ltd
Netherlands Deutsche Bank AG
New Zealand The Hongkong and Shanghai Banking Corporation Limited
Nigeria Stanbic IBTC Bank Plc
Norway Nordea Bank Abp
Oman HSBC Bank Oman SAOG
Pakistan Citibank, N.A., Karachi Branch
Palestinian Territories HSBC Bank Middle East Limited
Panama Citibank, N.A., Panama Branch
Peru Citibank del Peru S.A.
Philippines The Hongkong and Shanghai Banking Corporation Limited
Poland Bank Polska Kasa Opieki SA
Portugal BNP Paribas Securities Services
Qatar HSBC Bank Middle East Limited
Romania Citibank Europe plc
Russia AO Citibank
Saudi Arabia HSBC Saudi Arabia
Serbia UniCredit Bank Austria A.G.
Singapore DBS Bank Ltd
Slovakia Citibank Europe plc
Slovenia UniCredit Banka Slovenija d.d.
South Africa The Standard Bank of South Africa Limited
South Korea The Hongkong and Shanghai Banking Corporation Limited
Spain Deutsche Bank SAE
Sri Lanka Standard Chartered Bank
Swaziland Standard Bank Swaziland Limited
Sweden Svenska Handelsbanken AB (publ)
Switzerland Credit Suisse (Switzerland) Ltd
Taiwan Bank of Taiwan
Tanzania Standard Chartered Bank (Mauritius) Limited
Thailand Citibank, N.A., Bangkok Branch
Tunisia Union Internationale De Banques
Turkey Deutsche Bank AS
UAE - ADX HSBC Bank Middle East Limited
UAE - DFM HSBC Bank Middle East Limited
UAE - NASDAQ Dubai HSBC Bank Middle East Limited
Uganda Standard Chartered Bank Uganda Limited
Ukraine PJSC Citibank
United Kingdom Euroclear UK and Ireland Limited (Northern Trust self-custody)
United States The Northern Trust Company
Uruguay Banco Itau Uruguay S.A.
Venezuela Citibank, N.A.
Vietnam HSBC Bank (Vietnam) Ltd
West Africa (UEMOA) Standard Chartered Bank (Mauritius) Limited (Hub arrangement used to access this market)
Zambia Standard Chartered Bank Zambia plc
Zimbabwe Standard Chartered Bank (Mauritius) Limited (Hub arrangement used to access this market)
*The Royal Bank of Canada serves as Northern Trust's Sub-Custodian for securities not eligible for settlement in Canada's local central securities depository. | # Anhang E – Verwahrstelle / Unterverwahrstellen
Die Verwahrstelle für die Fonds ist Northern Trust. Im Folgenden finden Sie eine Liste der Unterverwahrstellen:
Markt Unterverwahrstelle
Australien HSBC Bank Australia Limited
Österreich UniCredit Bank Austria A.G
Bahrain HSBC Bank Middle East Limited
Bangladesch Standard Chartered Bank
Belgien Deutsche Bank AG
Bermuda HSBC Bank Bermuda Limited
Bosnien und Herzegowina Raiffeisen Bank International AG (Föderation Bosnien-Herzegowina)
Bosnien und Herzegowina (Republik Srpska) Raiffeisen Bank International AG
Botswana Standard Chartered Bank Botswana Limited
Brasilien Citibank, N.A., Brazilian Branch
Bulgarien Citibank Europe plc
Kanada The Northern Trust Company, Canada
Chile Banco de Chile
Chinesische A-Aktien HSBC Bank (China) Company Limited
Chinesische B-Aktien HSBC Bank (China) Company Limited
Kolumbien Cititrust Colombia S.A. Sociedad Fiduciaria
Costa Rica Banco Nacional de Costa Rica
Zypern Citibank Europe plc
Tschechische Republik UniCredit Bank Czech Republic and Slovakia, a.s.
Dänemark Nordea Bank Abp
Ägypten Citibank, N.A., Cairo Branch
Estland Swedbank AS
Euroclear Euroclear Bank S.A./N.V.
Finnland Nordea Bank Abp
Frankreich The Northern Trust Company
Deutschland Deutsche Bank AG
Ghana Standard Chartered Bank Ghana Limited
Griechenland Citibank Europe plc
Hongkong The Hongkong and Shanghai Banking Corporation Limited Hong Kong – HK Stock Connect The Hongkong and Shanghai Banking Corporation Limited Ungarn UniCredit Bank Hungary Zrt
Indien Citibank, N.A.
Indonesien Standard Chartered Bank
Irland Euroclear UK and Ireland Limited (Northern Trust Eigenverwahrung)*
Israel Bank Leumi Le-Israel B.M.
Italien Deutsche Bank SpA
Japan The Hongkong and Shanghai Banking Corporation Limited
Jordanien Standard Chartered Bank
Kasachstan Citibank Kazakhstan JSC
Kenia Standard Chartered Bank Kenya Limited
Kuwait HSBC Bank Middle East Limited
Lettland Swedbank AS
Libanon HSBC Bank Middle East Limited
Litauen AB SEB Bankas
Luxemburg Euroclear Bank S.A./N.V.
Malaysia HSBC Bank Malaysia Berhad
Mauritius The Hongkong and Shanghai Banking Corporation Limited
Mexiko Banco Nacional de Mexico S.A. integrante del Grupo Financiero Banamex
Marokko Societe Generale Marocaine de Banques
Namibia Standard Bank Namibia Ltd
Niederlande Deutsche Bank AG
Neuseeland The Hongkong and Shanghai Banking Corporation Limited
Nigerien Stanbic IBTC Bank Plc
Norwegen Nordea Bank Abp
Oman HSBC Bank Oman SAOG
Pakistan Citibank, N.A., Karachi Branch
Palästinensische Gebiete HSBC Bank Middle East Limited
Panama Citibank, N.A., Panama Branch
Peru Citibank del Peru S.A.
Philippinen The Hongkong and Shanghai Banking Corporation Limited
Polen Bank Polska Kasa Opieki SA
Portugal BNP Paribas Securities Services
Katar HSBC Bank Middle East Limited
Rumänien Citibank Europe plc
Russland AO Citibank
Saudi-Arabien HSBC Saudi Arabia
Serbien UniCredit Bank Austria A.G.
Singapur DBS Bank Ltd
Slowakei Citibank Europe plc
Slowenien UniCredit Banka Slovenija d.d.
Südafrika The Standard Bank of South Africa Limited
Südkorea The Hongkong and Shanghai Banking Corporation Limited
Spanien Deutsche Bank SAE
Sri Lanka Standard Chartered Bank
Swasiland Standard Bank Swaziland Limited
Schweden Svenska Handelsbanken AB (publ)
Schweiz Credit Suisse (Switzerland) Ltd
Taiwan Bank of Taiwan
Tansania Standard Chartered Bank (Mauritius) Limited
Thailand Citibank, N.A., Bangkok Branch
Tunesien Union Internationale De Banques
Türkei Deutsche Bank AS
Vereinigte Arabische Emirate - ADX HSBC Bank Middle East Limited
Vereinigte Arabische Emirate - DFM HSBC Bank Middle East Limited Vereinigte Arabische Emirate - NASDAQ Dubai HSBC Bank Middle East Limited
Uganda Standard Chartered Bank Uganda Limited
Ukraine PJSC Citibank
Vereinigtes Königreich Euroclear UK and Ireland Limited (Northern Trust Eigenverwahrung)
Vereinigte Staaten von Amerika The Northern Trust Company
Uruguay Banco Itau Uruguay S.A.
Venezuela Citibank, N.A.
Vietnam HSBC Bank (Vietnam) Ltd
Westafrika (UEMOA) Standard Chartered Bank (Mauritius) Limited (Es besteht eine Verteilervereinbarung für den Zugang zu diesem Markt)
Sambia Standard Chartered Bank Zambia plc
Simbabwe Standard Chartered Bank (Mauritius) Limited (Es besteht eine Verteilervereinbarung für den Zugang zu diesem Markt)
*Die Royal Bank of Canada dient für Wertpapiere, deren Abwicklung über die lokale Zentraldepotbank nicht zulässig ist, als Unterverwahrstelle von Northern Trusts. | # Appendix E – Custodian / Sub-Custodians
The Custodian for the Trusts is Northern Trust. A list of the Sub-Custodians is as follows:
Market Sub Custodian
Australia HSBC Bank Australia Limited
Austria UniCredit Bank Austria A.G
Bahrain HSBC Bank Middle East Limited
Bangladesh Standard Chartered Bank
Belgium Deutsche Bank AG
Bermuda HSBC Bank Bermuda Limited
Bosnia and Herzegovina Raiffeisen Bank International AG (Federation of Bosnia-Herzegovina)
Bosnia and Herzegovina (Republic of Srpska) Raiffeisen Bank International AG
Botswana Standard Chartered Bank Botswana Limited
Brazil Citibank, N.A., Brazilian Branch
Bulgaria Citibank Europe plc
Canada The Northern Trust Company, Canada
Chile Banco de Chile
China A Share HSBC Bank (China) Company Limited
China B Share HSBC Bank (China) Company Limited
Colombia Cititrust Colombia S.A. Sociedad Fiduciaria
Costa Rica Banco Nacional de Costa Rica
Cyprus Citibank Europe plc
Czech Republic UniCredit Bank Czech Republic and Slovakia, a.s.
Denmark Nordea Bank Abp
Egypt Citibank, N.A., Cairo Branch
Estonia Swedbank AS
Euroclear Euroclear Bank S.A./N.V.
Finland Nordea Bank Abp
France The Northern Trust Company
Germany Deutsche Bank AG
Ghana Standard Chartered Bank Ghana Limited
Greece Citibank Europe plc
Hong Kong The Hongkong and Shanghai Banking Corporation Limited Hong Kong – HK Stock Connect The Hongkong and Shanghai Banking Corporation Limited Hungary UniCredit Bank Hungary Zrt
India Citibank, N.A.
Indonesia Standard Chartered Bank
Ireland Euroclear UK and Ireland Limited (Northern Trust self-custody)*
Israel Bank Leumi Le-Israel B.M.
Italy Deutsche Bank SpA
Japan The Hongkong and Shanghai Banking Corporation Limited
Jordan Standard Chartered Bank
Kazakhstan Citibank Kazakhstan JSC
Kenya Standard Chartered Bank Kenya Limited
Kuwait HSBC Bank Middle East Limited
Latvia Swedbank AS
Lebanon HSBC Bank Middle East Limited
Lithuania AB SEB Bankas
Luxembourg Euroclear Bank S.A./N.V.
Malaysia HSBC Bank Malaysia Berhad
Mauritius The Hongkong and Shanghai Banking Corporation Limited
Mexico Banco Nacional de Mexico S.A. integrante del Grupo Financiero Banamex
Morocco Societe Generale Marocaine de Banques
Namibia Standard Bank Namibia Ltd
Netherlands Deutsche Bank AG
New Zealand The Hongkong and Shanghai Banking Corporation Limited
Nigeria Stanbic IBTC Bank Plc
Norway Nordea Bank Abp
Oman HSBC Bank Oman SAOG
Pakistan Citibank, N.A., Karachi Branch
Palestinian Territories HSBC Bank Middle East Limited
Panama Citibank, N.A., Panama Branch
Peru Citibank del Peru S.A.
Philippines The Hongkong and Shanghai Banking Corporation Limited
Poland Bank Polska Kasa Opieki SA
Portugal BNP Paribas Securities Services
Qatar HSBC Bank Middle East Limited
Romania Citibank Europe plc
Russia AO Citibank
Saudi Arabia HSBC Saudi Arabia
Serbia UniCredit Bank Austria A.G.
Singapore DBS Bank Ltd
Slovakia Citibank Europe plc
Slovenia UniCredit Banka Slovenija d.d.
South Africa The Standard Bank of South Africa Limited
South Korea The Hongkong and Shanghai Banking Corporation Limited
Spain Deutsche Bank SAE
Sri Lanka Standard Chartered Bank
Swaziland Standard Bank Swaziland Limited
Sweden Svenska Handelsbanken AB (publ)
Switzerland Credit Suisse (Switzerland) Ltd
Taiwan Bank of Taiwan
Tanzania Standard Chartered Bank (Mauritius) Limited
Thailand Citibank, N.A., Bangkok Branch
Tunisia Union Internationale De Banques
Turkey Deutsche Bank AS
UAE - ADX HSBC Bank Middle East Limited
UAE - DFM HSBC Bank Middle East Limited
UAE - NASDAQ Dubai HSBC Bank Middle East Limited
Uganda Standard Chartered Bank Uganda Limited
Ukraine PJSC Citibank
United Kingdom Euroclear UK and Ireland Limited (Northern Trust self-custody)
United States The Northern Trust Company
Uruguay Banco Itau Uruguay S.A.
Venezuela Citibank, N.A.
Vietnam HSBC Bank (Vietnam) Ltd
West Africa (UEMOA) Standard Chartered Bank (Mauritius) Limited (Hub arrangement used to access this market)
Zambia Standard Chartered Bank Zambia plc
Zimbabwe Standard Chartered Bank (Mauritius) Limited (Hub arrangement used to access this market)
*The Royal Bank of Canada serves as Northern Trust's Sub-Custodian for securities not eligible for settlement in Canada's local central securities depository. | en | de |
DOLFIN798 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
The Management Company will determine the required level of collateral for OTC financial derivatives transactions and stock lending and repurchase agreement transactions according to the nature and the characteristics of the executed transactions, the counterparties and the market conditions.
The Management Company may carry out OTC financial derivatives transactions with a level of collateral lower than 100% subject to be compliant with the counterparty risk authorised by the applicable regulations. For certain types of transactions such as, but not limited to, Foreign Exchange Forward, the level of collateral may be equal to zero.
As part of its lending transactions, the Sub-Fund must in principle receive previously or simultaneously to the transfer of the securities lent a guarantee the value of which must at the conclusion of and constantly during the contract be at least equal to 90% of the global valuation of the securities lent.
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## Reinvestment of collateral | Die Verwaltungsgesellschaft bestimmt den erforderlichen Umfang der Sicherheiten für OTC- Finanzderivate, Wertpapierleihegeschäfte und Pensionsgeschäfte gemäß der Art und den Merkmalen der durchgeführten Geschäfte, der Kontrahenten und der Marktbedingungen.
Die Verwaltungsgesellschaft darf OTC-Finanzderivate mit einem Umfang der Sicherheiten unter 100 % durchführen gemäß dem Kontrahentenrisiko, das von den geltenden Vorschriften genehmigt ist. Für bestimmte Arten von Geschäften wie unter anderem Devisenterminkontrakten kann der Umfang der Sicherheiten gleich Null sein.
Als Bestandteil ihrer Leihegeschäfte muss der Teilfonds grundsätzlich vor oder gleichzeitig mit der Übergabe der verliehenen Wertpapiere eine Garantie erhalten, deren Wert ständig während der Laufzeit des Vertrags und nach dessen Beendigung wenigstens 90 % des Gesamtwerts der verliehenen Wertpapiere entsprechen muss.
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## Wiederanlage der Sicherheiten | The Management Company will determine the required level of collateral for OTC financial derivatives transactions and stock lending and repurchase agreement transactions according to the nature and the characteristics of the executed transactions, the counterparties and the market conditions.
The Management Company may carry out OTC financial derivatives transactions with a level of collateral lower than 100% subject to be compliant with the counterparty risk authorised by the applicable regulations. For certain types of transactions such as, but not limited to, Foreign Exchange Forward, the level of collateral may be equal to zero.
As part of its lending transactions, the Sub-Fund must in principle receive previously or simultaneously to the transfer of the securities lent a guarantee the value of which must at the conclusion of and constantly during the contract be at least equal to 90% of the global valuation of the securities lent.
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## Reinvestment of collateral | en | de |
DOLFIN799 | Translate the following text in en into de. Only provide the translation without any other text. The text to translate:
###### Global Economic and Market Conditions
The Investment Manager may invest in currencies and securities traded in various markets throughout the world, including in emerging or developing markets, some of which are highly controlled by governmental authorities. Such investments require consideration of certain risks typically not associated with investing in currencies or securities of developed markets. Such risks include, among other things, trade balances and imbalances and related economic policies, unfavourable currency exchange rate fluctuations, imposition of exchange control regulation by governments, withholding taxes, limitations on the removal of funds or other assets, policies of governments with respect to possible nationalisation of their industries, political difficulties, including expropriation of assets, confiscatory taxation and social, economic or political instability in foreign nations. These factors may affect the level and volatility of securities prices and the liquidity of the Company's Investments. Unexpected volatility or illiquidity could impair the Fund's profitability or result in losses.
The economies of countries differ in such respects as growth of gross domestic product, rate of inflation, currency depreciation, asset reinvestment, resource self-sufficiency and balance of payments position. Further, certain economies are heavily dependent upon international trade and, accordingly, have been and may continue to be adversely affected by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they trade. The economies of certain countries may be based, predominantly, on only a few industries and may be vulnerable to changes in trade conditions and may have higher levels of debt or inflation. | ###### Globale Wirtschafts- und Marktbedingungen
Der Anlageverwalter kann in Währungen und Wertpapieren anlegen, die an verschiedenen Märkten überall in der Welt gehandelt werden, was Schwellen- oder Entwicklungsländer einschließt, von denen einige einer starken staatlichen Kontrolle unterliegen. Solche Anlagen erfordern die Beachtung bestimmter Risiken, die mit einer Anlage in Währungen oder Wertpapieren von Industrieländern normalerweise nicht verbunden sind. Zu diesen Risiken gehören u. a. Handelsbilanzen und deren Ungleichgewicht sowie damit verbundene wirtschaftspolitische Maßnahmen, ungünstige Wechselkursschwankungen, die Einführung von Devisenkontrollvorschriften durch Staatsregierungen, Quellensteuern, Beschränkungen hinsichtlich der Entnahme bzw. Ausfuhr von Geldern oder sonstigen Vermögenswerten, die Staatspolitik im Hinblick auf eine mögliche Verstaatlichung von Industrien sowie politische Probleme, darunter die Enteignung von Vermögenswerten, eine enteignungsgleiche Besteuerung und soziale, wirtschaftliche oder politische Instabilität in anderen Ländern. Diese Faktoren können sich auf das Niveau und die Volatilität der Wertpapierpreise und die Liquidität der Fondsanlagen der Gesellschaft auswirken. Unerwartete Preisvolatilitäten oder Illiquidität können zu einer geringeren Profitabilität des Fonds oder zu Verlusten führen.
Volkswirtschaften unterscheiden sich beispielsweise bezüglich Wachstums des Bruttoinlandsprodukts, Inflationsrate, Geldentwertung, Wiederanlage von Vermögenswerten, Ressourcenunabhängigkeit und Zahlungsbilanz. Einige Volkswirtschaften sind darüber hinaus stark vom internationalen Handel abhängig und wurden daher in der Vergangenheit von Handelsschranken, Devisenkontrollen, Maßnahmen zur Anpassung des relativen Werts von Währungen und anderen protektionistischen Maßnahmen, die von den Ländern, mit denen sie Handel betreiben, auferlegt oder ausgehandelt wurden, getroffen, und dies ist möglicherweise auch in Zukunft der Fall. Die Volkswirtschaften einiger Länder basieren unter Umständen überwiegend auf einigen wenigen Industriezweigen und können anfällig auf Veränderungen der Handelsbedingungen reagieren und eine höhere Verschuldung oder Inflation aufweisen. | ###### Global Economic and Market Conditions
The Investment Manager may invest in currencies and securities traded in various markets throughout the world, including in emerging or developing markets, some of which are highly controlled by governmental authorities. Such investments require consideration of certain risks typically not associated with investing in currencies or securities of developed markets. Such risks include, among other things, trade balances and imbalances and related economic policies, unfavourable currency exchange rate fluctuations, imposition of exchange control regulation by governments, withholding taxes, limitations on the removal of funds or other assets, policies of governments with respect to possible nationalisation of their industries, political difficulties, including expropriation of assets, confiscatory taxation and social, economic or political instability in foreign nations. These factors may affect the level and volatility of securities prices and the liquidity of the Company's Investments. Unexpected volatility or illiquidity could impair the Fund's profitability or result in losses.
The economies of countries differ in such respects as growth of gross domestic product, rate of inflation, currency depreciation, asset reinvestment, resource self-sufficiency and balance of payments position. Further, certain economies are heavily dependent upon international trade and, accordingly, have been and may continue to be adversely affected by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they trade. The economies of certain countries may be based, predominantly, on only a few industries and may be vulnerable to changes in trade conditions and may have higher levels of debt or inflation. | en | de |
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