AZ Allocation - International 50%-100% B-AZ FUND (ACC)/  LU2168559065  /

The Sub-fund aims to achieve long-term capital growth. The Sub-fund aims to achieve its investment objective by actively managing a diversified portfolio of equities as well as debt securities. The portfolio is primarily made up of equities, while the remainder of the portfolio is invested in debt securities offering an attractive yield to maturity in order to boost the Sub-fund"s returns. The Sub-fund actively manages the allocation between equity and equity-related securities and debt securities, based on the expected risk and return from these two asset classes. The Sub-fund invests between 50% and 100% of its net assets in equities issued by companies worldwide, including up to 30% of its net assets in emerging countries. The Sub-fund may invest up to 50% of its net assets in debt securities and money market instruments issued by governments and/or companies of developed countries, and up to 25% its net assets in emerging countries. The Sub-fund may invest up to 35% of its net assets in convertible, hybrid and/or subordinated bonds, including up to 20% in net assets in contingent convertible bonds (CoCo bonds), including, among others, "additional Tier 1", "restricted Tier 1" and "Tier 2" CoCo bonds. The Sub-fund invests up to 35% of its net assets in debt securities with a sub-investment grade rating.

The Sub-fund aims to achieve long-term capital growth. The Sub-fund aims to achieve its investment objective by actively managing a diversified portfolio of equities as well as debt securities. The portfolio is primarily made up of equities, while the remainder of the portfolio is invested in debt securities offering an attractive yield to maturity in order to boost the Sub-fund"s returns. The Sub-fund actively manages the allocation between equity and equity-related securities and debt securities, based on the expected risk and return from these two asset classes.