GAM Star (Lux) Local Emerging Bond B $

Investment Objective The investment objective of the sub-fund ("Fund") is to achieve above-average returns in the long term while observing the principle of risk diversification. Investment Policy In order to pursue its investment objective, the Subfund seeks to invest principally in fixed income instruments including bonds, convertible bonds, bank deposits, and other types of debt securities of issuers with their principal business activities and interests located in emerging market countries. Emerging markets in connection with this Subfund means (i) "traditional" emerging markets, defined as most countries in the world other than developed countries (including but not limited to current members of the G-7, Australia, New Zealand) ("traditional emerging markets"), (ii) developed countries that have issued sovereign debt that is rated below investment grade, and (iii) developed countries that have issued investment-grade sovereign debt that is considered likely to be downgraded below investment grade in the near future. Accordingly, the Subfund is invested in corporate, sovereign and quasi-sovereign bonds (i.e., bonds issued by quasi-sovereign entities which are wholly-owned or 100% guaranteed by a national government). The Subfund will not invest more than 50% of its net asset value in below investment grade fixed income instruments, which must have a minimum credit quality rating of B3 (by Moody's or equivalent). The Subfund will not invest more than 10% of its net asset value in securitised assets, having a minimum credit quality rating of investment grade, such as asset backed securities (ABS), mortgage-backed securities (MBS), collateralised debt obligations (CDO), collateralised mortgage obligations (CMO), collateralized bond obligations, collateralized loan obligations, asset backed commercial papers or other securities which have arisen from risk transfer. The allocation between corporate, sovereign and quasi- sovereign bonds is made on a discretionary basi

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No