Zest Absolute Return Low VAR I EUR

Objectives and investment policy The Sub-Fund aims to seek a consistent, absolute return while placing emphasis on the preservation of capital in the medium term. The investment strategy is based on risk spreading as a means of diversifying investments. The allocation of the portfolio between the different asset classes (equities and equity-related securities, (including ADR/GDR), debt securities (including convertible bonds, other corporate bonds, government bonds and money market instruments) may vary according to the Investment Manager's expectations. The Sub-Fund may not allocate more than 60% to equities. This limit applies to both direct equities and UCITS and/or UCIs investing principally in equities only; i.e. financial derivative instruments on equities are not taken into account for the calculation of this restriction. The allocation will be done either directly or indirectly through other UCITS and/or UCIs. Those investments will be limited to 10% of the Sub-Fund's net assets. The Sub-Fund can be exposed to Investment Grade debt instruments and Non-Investment Grade debt instruments, in proportions that will vary accordingly to financial market conditions and investment opportunities. However, the Sub-Fund will not invest more than 20% of its net assets in contingent convertible bonds, and; 10% of its net assets in non-rated bonds. If the fixed income instruments issuer/the issue has not been given a credit rating by a recognized rating agency, the Board of Directors may appreciate whether one instrument possesses the equivalent of at least High Yield rating criteria (at the issuer or at the issue level). Any such (lack of) rating criteria will be monitored by the Investment Manager on a regular basis as from the date of investment until the sale of the concerned debt instruments. The Sub-Fund will not invest in Distressed Securities or Defaulted Securities. It is understood that, in the event of downgrading in the credit ratings of a security or an issuer

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No