Fisher Investments Institutional US High Yield Bond Fund F Class Shares/  IE00BJ9N8G49  /

The investment objective of this actively managed Fund is to outperform the ICE Bank of America Merrill Lynch U.S. High Yield Index (the "Benchmark"). There is no guarantee the investment objective will be achieved. The Fund is actively managed by the Investment Manager, meaning that investment decisions are made on a fully discretionary basis. Accordingly, the portfolio holdings may deviate from the Benchmark. This deviation may be material. The Fund will primarily invest in a diversified portfolio of US dollar denominated, below investment grade, US corporate fixed-income debt securities. Fixed-income debt securities and floating rate debt securities which are in the lowest investment grade and lower rating categories or which are unrated generally offer a higher yield than is offered by obligations in the higher rating categories but also are subject to greater credit risks. While the Fund will invest primarily in fixed income debt securities and/or floating rate debt securities, as referred to above, the Fund may, in circumstances of extreme volatility or if market factors require and if considered appropriate to the investment objective, invest on a short term basis in cash, cash equivalents and money market instruments, or government or investment grade corporate bonds which are rated higher than Baa/BBB by a Recognised Rating Agency.

The investment objective of this actively managed Fund is to outperform the ICE Bank of America Merrill Lynch U.S. High Yield Index (the "Benchmark"). There is no guarantee the investment objective will be achieved. The Fund is actively managed by the Investment Manager, meaning that investment decisions are made on a fully discretionary basis. Accordingly, the portfolio holdings may deviate from the Benchmark. This deviation may be material.