Rathbone Ethical Bond Retail Income

The objective of the fund is to deliver a greater total return than the IA Sterling Corporate Bond sector, after fees, over any rolling five-year period. There is no guarantee that this investment objective will be achieved over five years, or any other time period. The manager uses the IA Sterling Corporate Bond sector as a target for the fund’s return because it aims to consistently outperform the average return of the companies competitors. To meet the objective, the fund manager will invest at least 80% of the fund in corporate bonds with an investment-grade rating (AAA to BBB-). The remaining 20% of the fund is invested in corporate bonds with a credit rating below BBB- or with no rating at all. Up to 10% of the fund can be invested directly in contingent convertible bonds. The fund may invest globally but at least 80% of the portfolio will be invested in sterling denominated assets or hedged back to sterling.