The Euro Long Average Duration Fund invests at least twothirds
of its assets in euro-denominated, fixed-income
securities. The portfolio normally maintains duration within
two years of the 15-year-plus benchmark, and may invest up
to 10% of its assets in non-investment grade securities.
Currency exposure is limited to 10% of the fund’s assets
This fund is actively managed to maximise total return while
maintaining risk consistent with the benchmark. Long
duration aids in liability matching.
The Fund Advantage
The fund has a diversified approach, employs multiple
concurrent strategies and uses an extensive global
opportunity set beyond vanilla securities.
Bloomberg Barclays Euro Government (Germany, France, Netherlands) over 15 years Index
PRIMARY BENCHMARK DESCRIPTION
Bloomberg Barclays Euro Government (Germany, France, Netherlands) over 15 years Index represents the Germany, France and Netherlands Government exposure with maturity over 15 years component of the Bloomberg Barclays Euro-Aggregate Index consists of bonds issued in the euro or the legacy currencies of the 17 sovereign countries participating in the European Monetary Union (EMU). All issues must be investment grade rated, fixed-rate securities with at least one year remaining to maturity. The Euro-Aggregate Index excludes convertible securities, floating rate notes, perpetual notes, warrants, linked bonds, and structured products. German Schuldscheine (quasi-loan securities) are also excluded because of their trading restrictions and unlisted status, which results in illiquidity. The country of issue is not an index criterion, and securities of issuers from outside the Eurozone are included if they meet the index criteria.
SHARE CLASS INCEPTION