Fonditalia Financial Credit Bond T

The fund, expressed in EURO aims to provide a high level of income and generate modest capital appreciation. To achieve the investment objective, the Sub- Fund’s assets will be invested in the financial sector globally, primarily in fixed and variable interest securities (e.g. corporate bonds, which may be investment grade or below investment grade, or unrated), hybrid securities (including a Contingent Convertible Tier 1, upper and lower Tier 2 securities and trust preferred securities (“TruPS”) – securities issued through US trust securities –), preference shares, other subordinated debt, money market securities and deposits.