Q4 2025 Outlook: From trade wars to rate cuts and stimulus

IMPORTANT INFORMATION

• Investment involves risk. The Offering Documents should be read for further details including the risk factors. Past performance information presented is not indicative of future performance. The value of shares in the fund(s) and the income accruing to the shares, if any, may fall or rise. An investment in the fund(s) is subject to investment risks, including the possible loss of the principal amount invested.
• This website contains information about investment funds which invest in equities and/or bonds, each with different risk profiles. The funds may not be suitable for all investors. Prices of equities and bonds may fluctuate and you may not get back your original investment.
• Some funds may invest in emerging markets, single countries or industry sectors. The investment focus of such funds might give rise to increased risk over more diversified funds.
• Some funds may have significant exposure to financial derivatives instruments, which involve risks different from and possibly greater than, the risks presented by traditional investments. Risks associated with derivatives are market risk, management risk, credit risk, liquidity risk, operational risk and leverage risk. The funds will also be exposed to credit risk of the counterparties with which it trades. In adverse market situations, the fund’s use of derivatives may become ineffective and the fund may suffer significant losses.
• Some of the funds may be exposed to asset-backed and mortgage-backed securities. Risks associated with these securities include liquidity, market, credit risk and interest rates risks.
• The value of the funds can be volatile and could go down substantially within a short period of time.
• The investment decision is yours but you should not invest unless the intermediary who sells the fund to you has advised you that the fund is suitable for you and has explained why, including how the fund would be consistent with your investment objectives, risk profile and unique situation.
• You should not make any investment decision solely based on the information on this website.
• The SICAV has appointed local agents in certain countries in line with local laws and regulations. Subject to the availability of the sub-funds / share classes in your jurisdiction, the current Prospectus, KIID in your local language, articles of incorporation and the most recent financial reports of the SICAV may be obtained free of charge from the following entities:
  
  

  Austria - Paying and Information Agent
  Erste Bank der oesterreichischen Sparkassen AG, Graben 21, 1010 Wien

  Belgium - Financial Agent
  CACEIS Bank, Belgium Branch, Avenue du Port 86 C b320, 1000 Brussels

  Denmark - Paying Agent
  Skandinaviska Enskilda Banken AB, acting through SEB Merchant Banking, Bernstorffsgade 50, 1577 Copenhagen V

  Finland - Paying Agent
  Skandinaviska Enskilda Banken AB (publ), Helsinki Branch, Unioninkatu 30, 00100 Helsinki

  France - Centralizing Correspondent
  CACEIS Bank S.A. (Société Anonyme), 1-3, Place Valhubert 75013 Paris

  Germany - Information Agent
  CACEIS Bank S.A., Germany Branch, Lilienthalallee 34-36, 80939 Munich

  Sweden - Paying Agent
  Local agent: Skandinaviska Enskilda Banken AB (publ), acting through SEB Merchant Banking, Segels Torg 2, SE-106 40 Stockholm

  Switzerland - Representative and Paying Agents
  
  The above-mentioned documents are available free of charge from the Representative Agent.
  
  Representative Agent: First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich Paying Agent: NPB-New Private Bank Ltd, Limmatquai 1/am Bellevue, 8024 Zurich

  United Kingdom – Facility Agent
  Eastspring Investments (Luxembourg) S.A. - UK Branch, 125 Old Broad Street, London EC2N 1AR

  For the purpose of UK law, the SICAV, is a recognized scheme under section 264 of the Financial Services and Markets Act 2000. Please note that the protections provided by the UK regulatory system, especially for retail clients, do not apply to offshore investments. Compensation under the UK Financial Services Compensation Scheme will not be available and UK cancellation rights do not apply.