GAM Star Emerging Market Rates Inst $

Investment Objective The investment objective of the Fund is to achieve an attractive risk-adjusted return, whilst actively managing downside risk. Investment Policy The Fund seeks to achieve this objective by investing either directly or through the use of financial derivatives, in fixed and floating rate debt securities in governments or companies which derive a significant part of their economic activity from Emerging Markets or developed countries undergoing a period of fiscal stress.The Fund may invest up to 25% of net assets in debt securities of one or more developed countries which is or are undergoing a period of fiscal stress.The investment period in which the Fund aims to achieve a positive return is 3 years. The fund manager adopts a fundamental, top-down, diversified approach to create primarily a relative value portfolio of global emerging market fixed income securities, currencies and derivatives.The Fund is considered to be actively managed in reference to Secured Overnight Financing Rate (SOFR) (the "Benchmark") by virtue of the fact that it uses the Benchmark in the appropriate currency for performance comparison purposes and the performance fees payable to the Fund Manager may be calculated based on the performance of the Fund against the Benchmark. However the Benchmark is not used to define the portfolio composition of the Fund or as a performance target and the Fund may be wholly invested in securities which are not constituents of the BenchmarkThe fund manager has discretion in managing the investments of the Fund.The Fund may use a number of complex derivative instruments for investment purposes and/or efficient portfolio management purposes. Further information on the Fund's use of derivatives can be found under the Derivatives section within the Fund's Supplement. The use of these instruments may result in the Fund being leveraged whereby the total exposure of the Fund as a result of all positions held by it may significantly exceed its Net

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No