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(-)Tj
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(3)Tj
ET
Q
BT
5 0 0 5 353.525 492.3892 Tm
(31-Oct-13 )Tj
ET
q
0.2 i
351.5 483.889 19 12.5 re
W n
BT
5 0 0 5 369.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 370.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-1)Tj
ET
q
0.2 i
351.5 483.889 19 12.5 re
W n
BT
5 0 0 5 368.58 486.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
5 0 0 5 377.525 492.3892 Tm
(31-Oct-14 )Tj
ET
q
0.2 i
375.5 483.889 19 12.5 re
W n
BT
5 0 0 5 393.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 394.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-1)Tj
ET
q
0.2 i
375.5 483.889 19 12.5 re
W n
BT
5 0 0 5 392.58 486.3892 Tm
0 Tc
(5)Tj
ET
Q
BT
5 0 0 5 401.525 492.3892 Tm
(31-Oct-15 )Tj
ET
q
0.2 i
399.5 483.889 19 12.5 re
W n
BT
5 0 0 5 417.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 418.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-1)Tj
ET
q
0.2 i
399.5 483.889 19 12.5 re
W n
BT
5 0 0 5 416.58 486.3892 Tm
0 Tc
(6)Tj
ET
Q
BT
5 0 0 5 425.525 492.3892 Tm
(31-Oct-16 )Tj
ET
q
0.2 i
423.5 483.889 19 12.5 re
W n
BT
5 0 0 5 441.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 442.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-1)Tj
ET
q
0.2 i
423.5 483.889 19 12.5 re
W n
BT
5 0 0 5 440.58 486.3892 Tm
0 Tc
(7)Tj
ET
Q
BT
5 0 0 5 449.525 492.3892 Tm
(31-Oct-17 )Tj
ET
q
0.2 i
447.5 483.889 19 12.5 re
W n
BT
5 0 0 5 465.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 466.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-1)Tj
ET
q
0.2 i
447.5 483.889 19 12.5 re
W n
BT
5 0 0 5 464.58 486.3892 Tm
0 Tc
(8)Tj
ET
Q
BT
5 0 0 5 473.525 492.3892 Tm
(31-Oct-18 )Tj
ET
q
0.2 i
471.5 483.889 19 12.5 re
W n
BT
5 0 0 5 489.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 490.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-1)Tj
ET
q
0.2 i
471.5 483.889 19 12.5 re
W n
BT
5 0 0 5 488.58 486.3892 Tm
0 Tc
(9)Tj
ET
Q
BT
5 0 0 5 497.525 492.3892 Tm
(31-Oct-19 )Tj
ET
q
0.2 i
495.5 483.889 19 12.5 re
W n
BT
5 0 0 5 513.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 514.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-2)Tj
ET
q
0.2 i
495.5 483.889 19 12.5 re
W n
BT
5 0 0 5 512.58 486.3892 Tm
0 Tc
(0)Tj
ET
Q
BT
5 0 0 5 521.525 492.3892 Tm
(31-Oct-20 )Tj
ET
q
0.2 i
519.5 483.889 19 12.5 re
W n
BT
5 0 0 5 537.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 538.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-21)Tj
4.42 1.2 TD
(31-Oct-21 )Tj
ET
q
0.2 i
543.5 483.889 19 12.5 re
W n
BT
5 0 0 5 561.41 492.3892 Tm
0 Tc
(-)Tj
ET
Q
BT
5 0 0 5 562.5 492.3892 Tm
0 Tc
( )Tj
-3.015 -1.2 TD
-0.06 Tc
(31-Oct-2)Tj
ET
q
0.2 i
543.5 483.889 19 12.5 re
W n
BT
5 0 0 5 560.58 486.3892 Tm
0 Tc
(2)Tj
ET
Q
q
212.5 470.889 115 13 re
W n
0.132 0.08 0.028 0 k
212.5 483.889 115 -13 re
f
Q
BT
8 0 0 8 217.5 475.3892 Tm
-0.025 Tc
(Fund \(USD\))Tj
ET
q
327.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
327.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 344.476 475.3892 Tm
0 Tc
(-)Tj
ET
q
351.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
351.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 368.476 475.3892 Tm
(-)Tj
ET
q
375.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
375.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 386.22 475.3892 Tm
-0.025 Tc
(2.9)Tj
ET
q
399.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
399.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 410.22 475.3892 Tm
(6.)Tj
ET
q
0.2 i
399.5 470.889 19 11 re
W n
BT
8 0 0 8 415.148 475.3892 Tm
0 Tc
(4)Tj
ET
Q
q
423.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
423.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 434.22 475.3892 Tm
(9.3)Tj
ET
q
447.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
447.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 458.22 475.3892 Tm
(0.2)Tj
ET
q
471.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
471.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 478.868 475.3892 Tm
(10.2)Tj
ET
q
495.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
495.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 506.22 475.3892 Tm
(0.)Tj
ET
q
0.2 i
495.5 470.889 19 11 re
W n
BT
8 0 0 8 511.148 475.3892 Tm
0 Tc
(4)Tj
ET
Q
q
519.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
519.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 526.868 475.3892 Tm
(10.1)Tj
ET
q
543.5 470.889 24 13 re
W n
0.132 0.08 0.028 0 k
543.5 483.889 24 -13 re
f
Q
BT
8 0 0 8 548.844 475.3892 Tm
(-13.3)Tj
-41.418 -1.625 TD
[(Index)-14054(-)-2747(-)-1965(3.9)-1965(7.9)-1546(10.3)-1965(1.)]TJ
ET
q
0.2 i
447.5 457.889 19 11 re
W n
BT
8 0 0 8 463.148 462.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 482.22 462.3892 Tm
[(9.7)-1965(1.6)-1965(9.)]TJ
ET
q
0.2 i
519.5 457.889 19 11 re
W n
BT
8 0 0 8 535.148 462.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 548.844 462.3892 Tm
(-12.0)Tj
ET
q
212.5 433.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 449.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 438.8892 Tm
0 0 0 0 k
-0.015 Tc
(Performance Summary \(%\))Tj
/F5 1 Tf
8 0 0 8 398.052 421.8893 Tm
0 0 0 1 k
-0.025 Tc
[(Cumulative)-9389(Annualised)]TJ
/F2 1 Tf
-6.419 -1.625 TD
[(Since Launch)-1709(1 Mth)-1345(3 Mths)-2325(YTD)]TJ
ET
q
477.5 404.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 417.389 m
481.5 392.389 l
S
Q
BT
8 0 0 8 491.748 408.8892 Tm
(1 Y)Tj
ET
q
0.2 i
482.5 404.389 20 11 re
W n
BT
8 0 0 8 500.476 408.8892 Tm
0 Tc
(r)Tj
ET
Q
BT
8 0 0 8 518.836 408.8892 Tm
[(3 Yrs)-2042(5 Yrs)]TJ
ET
q
212.5 391.389 130 13 re
W n
0.132 0.08 0.028 0 k
212.5 404.389 130 -13 re
f
Q
BT
8 0 0 8 217.5 395.8892 Tm
(Base Shares \(Acc.\) \(USD-Hedged\))Tj
4 0 0 4 307.716 399.3892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
342.5 391.389 45 13 re
W n
0.132 0.08 0.028 0 k
342.5 404.389 45 -13 re
f
Q
BT
8 0 0 8 367.516 395.8892 Tm
-0.025 Tc
(26.48)Tj
ET
q
387.5 391.389 30 13 re
W n
0.132 0.08 0.028 0 k
387.5 404.389 30 -13 re
f
Q
BT
8 0 0 8 400.868 395.8892 Tm
(2.06)Tj
ET
q
417.5 391.389 30 13 re
W n
0.132 0.08 0.028 0 k
417.5 404.389 30 -13 re
f
Q
BT
8 0 0 8 427.716 395.8892 Tm
(\(3.52\))Tj
ET
q
447.5 391.389 30 13 re
W n
0.132 0.08 0.028 0 k
447.5 404.389 30 -13 re
f
Q
BT
8 0 0 8 454.364 395.8892 Tm
(\(13.65\))Tj
ET
q
477.5 391.389 5 13 re
W n
0.132 0.08 0.028 0 k
477.5 404.389 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
481.5 404.389 m
481.5 379.389 l
S
Q
q
482.5 391.389 25 13 re
W n
0.132 0.08 0.028 0 k
482.5 404.389 25 -13 re
f
Q
BT
8 0 0 8 484.364 395.8892 Tm
(\(13.35\))Tj
ET
q
507.5 391.389 30 13 re
W n
0.132 0.08 0.028 0 k
507.5 404.389 30 -13 re
f
Q
BT
8 0 0 8 517.716 395.8892 Tm
(\(1.43\))Tj
ET
q
537.5 391.389 30 13 re
W n
0.132 0.08 0.028 0 k
537.5 404.389 30 -13 re
f
Q
BT
8 0 0 8 550.868 395.8892 Tm
(1.11)Tj
-41.671 -1.625 TD
(ICE BofA European Currency High Yield )Tj
0 -1.3125 TD
(Constrained Index \(USD-Hedged\))Tj
4 0 0 4 306.124 375.8892 Tm
-0.05 Tc
(\(3\))Tj
8 0 0 8 367.516 382.8892 Tm
-0.025 Tc
[(33.85)-2296(1.99)-1902(\(3.00\))-1483(\(12.47\))]TJ
ET
q
477.5 367.889 5 23.5 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
481.5 391.389 m
481.5 366.389 l
S
Q
BT
8 0 0 8 484.364 382.8892 Tm
[(\(12.03\))-1902(\(0.75\))-2296(1.69)]TJ
ET
0.53 0.32 0.11 0 k
212.5 361.889 355 -16.5 re
f
BT
/F4 1 Tf
10 0 0 10 216.5 350.8892 Tm
0 0 0 0 k
-0.015 Tc
(Calendar Year Performance \(%\))Tj
/F2 1 Tf
8 0 0 8 333.092 336.8892 Tm
0 0 0 1 k
-0.025 Tc
[(2012)-1324(2013)-1324(201)]TJ
ET
q
0.2 i
375.5 332.389 19 11 re
W n
BT
8 0 0 8 391.148 336.8892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 405.092 336.8892 Tm
[(2015)-1324(2016)-1324(2017)-1324(2018)-1324(2019)-1324(2020)-1324(2021)]TJ
ET
q
212.5 319.389 114 13 re
W n
0.132 0.08 0.028 0 k
212.5 332.389 114 -13 re
f
Q
BT
8 0 0 8 217.5 323.8892 Tm
(Base Shares \(Acc.\) \(USD-Hedged\))Tj
ET
q
326.5 319.389 25 13 re
W n
0.132 0.08 0.028 0 k
326.5 332.389 25 -13 re
f
Q
BT
8 0 0 8 344.476 323.8892 Tm
0 Tc
(-)Tj
ET
q
351.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
351.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 368.476 323.8892 Tm
(-)Tj
ET
q
375.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
375.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 392.476 323.8892 Tm
(-)Tj
ET
q
399.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
399.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 410.22 323.8892 Tm
-0.025 Tc
(1.6)Tj
ET
q
423.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
423.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 434.22 323.8892 Tm
(9.1)Tj
ET
q
447.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
447.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 458.22 323.8892 Tm
(7.8)Tj
ET
q
471.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
471.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 480.196 323.8892 Tm
(-2.2)Tj
ET
q
495.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
495.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 502.868 323.8892 Tm
(15.5)Tj
ET
q
519.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
519.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 530.22 323.8892 Tm
(4.2)Tj
ET
q
543.5 319.389 24 13 re
W n
0.132 0.08 0.028 0 k
543.5 332.389 24 -13 re
f
Q
BT
8 0 0 8 554.22 323.8892 Tm
(3.8)Tj
-42.09 -1.625 TD
(ICE BofA European Currency High Yield )Tj
0 -1.3125 TD
(Constrained Index \(USD-Hedged\))Tj
15.872 1.3125 TD
[(-)-2747(-)-2747(-)-1965(1.8)-1546(10.8)-1965(8.9)-1712(-0.6)-1546(14.7)-1965(4.6)-1965(4.2)]TJ
/F5 1 Tf
-15.872 -19.2736 TD
(This is a marketing communication. Please refer to the Prospectus and KIID before making any nal investment )Tj
0 -1.225 TD
(decisions. Please see Additional Notes. All performance and holdings data as at 31-Oct-22.)Tj
0 -1.2875 TD
0 Tc
[(Past performance does not predict future returns. The fund)74(s returns may increase or decrease as a result of )]TJ
0 -1.225 TD
(changes to foreign exchange rates.)Tj
/F2 1 Tf
T*
[(* W)18(e)0( identify two broad categories of funds to help investors think about how to construct their overall investment )]TJ
T*
[(portfolio. W)18(e)0( describe the following as)]TJ
/F5 1 Tf
14.085 0 TD
( Core)Tj
/F2 1 Tf
2.999 0 TD
(: \(A\) Equity funds with a global investment remit or those mainly focused )Tj
-17.084 -1.225 TD
(on US and European markets, given the size and transparency of these markets. \(B\) Fixed income funds with a global )Tj
T*
(investment remit or those mainly focused on US, European and UK markets and invest predominantly in investment )Tj
T*
(grade debt, including government. \(C\) Multi asset funds with a multi asset benchmark. All other funds we describe as)Tj
/F5 1 Tf
42.368 0 TD
( )Tj
-42.368 -1.225 TD
(Complements)Tj
/F2 1 Tf
6.388 0 TD
(. Both Core and Complement funds can vary in risk level and those terms are not meant to indicate the )Tj
-6.388 -1.225 TD
(risk level of the funds. There is no guarantee that these objectives will be met.)Tj
T*
(For regionally focused investment portfolios we understand that the categorisation may be different from the perspective )Tj
T*
(of different investors.)Tj
/F5 1 Tf
7.775 0 TD
( Consult your nancial adviser before investing to help determine if an investment in this )Tj
ET
q
0.2 i
217.5 24.5 350 118.1 re
W n
BT
8 0 0 8 217.5 28.8 Tm
(f)Tj
ET
Q
BT
8 0 0 8 219.724 28.8 Tm
(und and the amount of the investment would be suitable)Tj
/F2 1 Tf
22.61 0 TD
(.)Tj
ET
0.746 0.676 0.668 0.898 k
0.2 i
108.925 31.419 m
105.949 38.753 l
104.863 38.753 l
104.863 30.486 l
105.831 30.486 l
105.831 36.852 l
105.913 36.544 106.185 35.812 106.244 35.67 c
108.405 30.486 l
109.433 30.486 l
111.594 35.682 l
111.653 35.812 111.925 36.544 112.019 36.852 c
112.019 30.486 l
112.976 30.486 l
112.976 38.753 l
111.889 38.753 l
h
117.452 44.417 m
117.452 45.42 116.719 45.917 115.503 46.152 c
114.523 46.341 113.944 46.637 113.944 47.192 c
113.944 47.711 114.476 47.983 115.113 47.983 c
115.799 47.983 116.377 47.629 116.66 46.885 c
117.393 47.31 l
116.991 48.208 116.306 48.739 115.102 48.739 c
114.003 48.739 113.07 48.148 113.07 47.168 c
113.07 46.152 113.944 45.633 115.066 45.432 c
116.07 45.243 116.53 44.96 116.53 44.369 c
116.53 43.767 116.023 43.365 115.255 43.365 c
114.381 43.365 113.802 43.909 113.531 44.747 c
112.739 44.251 l
113.106 43.342 113.932 42.55 115.255 42.55 c
116.684 42.55 117.452 43.448 117.452 44.417 c
108.252 49.258 m
108.335 49.448 108.429 49.719 108.476 49.884 c
108.524 49.719 108.618 49.448 108.7 49.258 c
109.965 45.999 l
106.988 45.999 l
h
106.657 45.148 m
110.295 45.148 l
111.24 42.716 l
112.291 42.716 l
108.984 50.983 l
107.968 50.983 l
104.662 42.716 l
105.713 42.716 l
h
93.693 30.57 0.476 23.298 re
135.758 31.407 m
134.612 31.407 133.844 32.222 133.844 33.544 c
133.844 34.867 134.612 35.682 135.758 35.682 c
136.903 35.682 137.682 34.867 137.682 33.544 c
137.682 32.222 136.903 31.407 135.758 31.407 c
137.612 35.505 m
137.246 36.096 136.572 36.509 135.639 36.509 c
134.175 36.509 132.899 35.422 132.899 33.544 c
132.899 31.714 134.104 30.581 135.639 30.581 c
136.572 30.581 137.21 31.005 137.612 31.655 c
137.612 30.805 l
137.612 29.387 136.974 28.703 135.781 28.703 c
134.777 28.703 134.163 29.045 134.163 29.6 c
134.163 29.765 134.198 29.895 134.246 30.025 c
133.36 30.285 l
133.265 30.108 133.206 29.895 133.206 29.648 c
133.206 28.655 134.116 27.911 135.781 27.911 c
137.564 27.911 138.568 29.009 138.568 30.876 c
138.568 36.344 l
137.612 36.344 l
h
82.882 48.767 m
82.882 50.366 82.117 51.204 80.742 51.204 c
79.901 51.204 79.061 50.823 78.831 50.062 c
78.755 50.975 l
78.526 50.975 l
76.31 50.747 l
76.31 50.518 l
76.615 50.138 l
76.615 43.513 l
76.31 43.057 l
76.31 42.828 l
79.137 42.828 l
79.137 43.057 l
78.831 43.513 l
78.831 48.919 l
78.831 49.757 79.29 50.366 79.901 50.366 c
80.36 50.366 80.666 49.985 80.666 49.376 c
80.666 43.513 l
80.283 43.057 l
80.283 42.828 l
83.187 42.828 l
83.187 43.057 l
82.882 43.513 l
h
126.581 47.971 m
127.538 47.971 128.388 47.381 128.447 46.259 c
124.573 46.259 l
124.762 47.227 125.565 47.971 126.581 47.971 c
129.238 44.263 m
128.529 44.676 l
128.164 43.909 127.585 43.365 126.581 43.365 c
125.4 43.365 124.633 44.298 124.573 45.491 c
129.404 45.491 l
129.404 45.81 l
129.404 47.523 128.317 48.739 126.593 48.739 c
124.951 48.739 123.64 47.463 123.64 45.645 c
123.64 43.826 124.94 42.55 126.546 42.55 c
127.857 42.55 128.695 43.165 129.238 44.263 c
130.774 33.356 m
130.774 32.222 130.089 31.147 128.908 31.147 c
128.199 31.147 127.738 31.549 127.738 32.151 c
127.738 32.753 128.187 33.167 128.978 33.296 c
130.774 33.592 l
h
131.718 34.572 m
131.718 35.8 130.892 36.509 129.392 36.509 c
128.034 36.509 127.112 35.73 127.112 34.82 c
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156.696 34.029 m
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h
158.716 36.509 m
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119.082 34.572 m
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123.558 36.509 m
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142.631 36.509 m
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74.858 48.767 m
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32.369 47.929 m
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40.546 32.702 m
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42.762 36.509 m
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33.591 36.965 m
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120.7 43.365 m
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67.445 48.767 m
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47.729 31.179 m
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8 0 0 8 32.5 432.8892 Tm
(Dealing and valuation)Tj
ET
q
0.6 i
142.5 428.389 55 13 re
W n
0.132 0.08 0.028 0 k
142.5 441.389 55 -13 re
f
Q
BT
8 0 0 8 178.836 432.8892 Tm
(Dail)Tj
ET
q
0.2 i
142.5 428.389 50 11 re
W n
BT
8 0 0 8 189.588 432.8892 Tm
0 Tc
(y)Tj
ET
Q
BT
8 0 0 8 32.5 419.8892 Tm
[(Reporting year end)-9065(30 Novembe)]TJ
ET
q
0.2 i
142.5 415.389 50 11 re
W n
BT
8 0 0 8 190.476 419.8892 Tm
0 Tc
(r)Tj
ET
Q
0.132 0.08 0.028 0 k
27.5 415.389 50 -23.5 re
f
BT
8 0 0 8 32.5 406.8893 Tm
0 0 0 1 k
(Reference )Tj
T*
(Benchmark)Tj
ET
q
0.6 i
77.5 391.889 120 23.5 re
W n
0.132 0.08 0.028 0 k
77.5 415.389 120 -23.5 re
f
Q
BT
8 0 0 8 87.068 406.8893 Tm
(ICE BofA European Currency High Yield )Tj
2.101 -1.3125 TD
(Constrained Index \(USD-Hedged\))Tj
-8.922 -1.625 TD
[(Settlement)-14600(T + 3)]TJ
ET
q
0.6 i
27.5 343.389 170 29.5 re
W n
1 0.84 0.31 0.17 k
27.5 372.889 170 -29.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 31.5 361.8892 Tm
0 0 0 0 k
-0.015 Tc
(Fund Objective and Investment )Tj
0 -1.3 TD
(Policy)Tj
/F1 1 Tf
8 0 0 8 27.5 333.3892 Tm
0.53 0.32 0.11 0 k
0 Tc
(The Fund seeks to provide income and capital )Tj
0 -1.25 TD
(growth over the longer term.The Fund seeks to )Tj
T*
(achieve its objective by investing in below )Tj
T*
(investment grade xed income securities of )Tj
T*
(European companies. Such companies are either )Tj
T*
(based in or earn most of their prots from Europe.)Tj
ET
q
0.6 i
212.5 697.889 170 16.5 re
W n
212.5 714.389 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 703.3892 Tm
0 0 0 0 k
-0.015 Tc
(Sector Allocation \(%\))Tj
ET
q
0.6 i
397.5 697.889 170 16.5 re
W n
0.53 0.32 0.11 0 k
397.5 714.389 170 -16.5 re
f
Q
BT
10 0 0 10 401.5 703.3892 Tm
(Credit Allocation \(%\))Tj
ET
q
0.2 i
254 683.889 18 8 re
W n
0 0 0 1 K
0 J 0 j 0.5 w 10 M []0 d
/GS2 gs
270.846 685.91 m
262.45 689.837 254.582 689.142 y
254.5 691.889 m
254.5 686.272 l
269.281 688.483 m
271.19 685.895 l
268.035 684.594 l
S
Q
0.79 0.18 1 0.04 k
/GS2 gs
0.6 i
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 661 225.785 668.766 231.605 674.416 c
h
252.5 652.889 m
f
0 0 0 0 K
0 J 0 j 0.1 w 10 M []0 d
/GS1 gs
252.5 652.889 m
252.5 682.889 l
269.069 682.889 282.5 669.458 282.5 652.889 c
282.5 636.321 269.069 622.889 252.5 622.889 c
235.931 622.889 222.5 636.321 222.5 652.889 c
222.5 661 225.785 668.766 231.605 674.416 c
h
252.5 652.889 m
S
252.5 652.889 m
231.605 674.416 l
234.809 677.526 238.668 679.882 242.899 681.312 c
h
252.5 652.889 m
f
252.5 652.889 m
231.605 674.416 l
234.809 677.526 238.668 679.882 242.899 681.312 c
h
252.5 652.889 m
S
252.5 652.889 m
242.899 681.312 l
243.849 681.632 244.815 681.905 245.792 682.13 c
h
252.5 652.889 m
f
252.5 652.889 m
242.899 681.312 l
243.849 681.632 244.815 681.905 245.792 682.13 c
h
252.5 652.889 m
S
252.5 652.889 m
245.792 682.13 l
246.219 682.228 246.649 682.316 247.08 682.396 c
h
252.5 652.889 m
f
252.5 652.889 m
245.792 682.13 l
246.219 682.228 246.649 682.316 247.08 682.396 c
h
252.5 652.889 m
S
252.5 652.889 m
247.08 682.396 l
248.868 682.724 250.682 682.889 252.5 682.889 c
h
252.5 652.889 m
f
252.5 652.889 m
247.08 682.396 l
248.868 682.724 250.682 682.889 252.5 682.889 c
h
252.5 652.889 m
S
0 0 0 0 k
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
f
267.5 652.889 m
267.5 661.173 260.784 667.889 252.5 667.889 c
244.216 667.889 237.5 661.173 237.5 652.889 c
237.5 644.605 244.216 637.889 252.5 637.889 c
260.784 637.889 267.5 644.605 267.5 652.889 c
S
BT
/F5 1 Tf
6 0 0 6 290.508 687.3892 Tm
0.79 0.18 1 0.04 k
-0.0333 Tc
(88.0)Tj
ET
q
0.2 i
287.5 683.889 16 8 re
W n
BT
6 0 0 6 299.032 687.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 687.3892 Tm
0 0 0 1 k
(Non-Dollar)Tj
/F5 1 Tf
0.79 0.18 1 0.04 k
-2.4213 -1.5 TD
(7.1)Tj
ET
q
0.2 i
287.5 674.889 16 8 re
W n
BT
6 0 0 6 299.032 678.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 678.3892 Tm
0 0 0 1 k
(US High Yield)Tj
/F5 1 Tf
0.79 0.18 1 0.04 k
-2.4213 -1.5 TD
(1.6)Tj
ET
q
0.2 i
287.5 665.889 16 8 re
W n
BT
6 0 0 6 299.032 669.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 669.3892 Tm
0 0 0 1 k
(Emerging Markets)Tj
/F5 1 Tf
0.79 0.18 1 0.04 k
-2.4213 -1.5 TD
(0.7)Tj
ET
q
0.2 i
287.5 656.889 16 8 re
W n
BT
6 0 0 6 299.032 660.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 660.3892 Tm
0 0 0 1 k
(US Investment Grade)Tj
/F5 1 Tf
0.79 0.18 1 0.04 k
-2.721 -1.5 TD
(-0.2)Tj
ET
q
0.2 i
287.5 647.889 16 8 re
W n
BT
6 0 0 6 299.032 651.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 651.3892 Tm
0 0 0 1 k
(Unrealized GL on FX)Tj
/F5 1 Tf
0.79 0.18 1 0.04 k
-2.4213 -1.5 TD
(2.9)Tj
ET
q
0.2 i
287.5 638.889 16 8 re
W n
BT
6 0 0 6 299.032 642.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 642.3892 Tm
0 0 0 1 k
(Cash)Tj
/F5 1 Tf
0.79 0.18 1 0.04 k
-2.721 -1.5 TD
(-0.2)Tj
ET
q
0.2 i
287.5 629.889 16 8 re
W n
BT
6 0 0 6 299.032 633.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 633.3892 Tm
0 0 0 1 k
(Derivatives)Tj
ET
0 0 0 0.4 K
0.2 w
469.5 565.617 m
564.5 565.617 l
469.5 578.344 m
564.5 578.344 l
469.5 591.071 m
564.5 591.071 l
469.5 603.798 m
564.5 603.798 l
469.5 616.526 m
564.5 616.526 l
469.5 629.253 m
564.5 629.253 l
469.5 641.98 m
564.5 641.98 l
469.5 654.707 m
564.5 654.707 l
469.5 667.435 m
564.5 667.435 l
469.5 680.162 m
564.5 680.162 l
469.5 692.889 m
564.5 692.889 l
S
0.79 0.18 1 0.04 k
493.013 564.117 0.237 -9.727 re
f
BT
/F2 1 Tf
5 0 0 5 480.9875 557.2529 Tm
/Cs7 cs 0 scn
0 Tc
(-0.2 )Tj
ET
0.79 0.18 1 0.04 k
493.25 576.844 3.444 -9.727 re
f
BT
5 0 0 5 501.3638 569.9802 Tm
/Cs7 cs 0 scn
(2.9 )Tj
ET
0.79 0.18 1 0.04 k
493.013 589.571 0.237 -9.727 re
f
BT
5 0 0 5 480.9875 582.7074 Tm
/Cs7 cs 0 scn
(-0.2 )Tj
ET
0.79 0.18 1 0.04 k
493.25 592.571 m
493.25 602.298 l
493.25 592.571 l
f
BT
5 0 0 5 497.92 595.4347 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0.79 0.18 1 0.04 k
493.25 615.026 0.119 -9.727 re
f
BT
5 0 0 5 498.0388 608.162 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0.79 0.18 1 0.04 k
493.25 627.753 0.119 -9.727 re
f
BT
5 0 0 5 498.0388 620.8892 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0.79 0.18 1 0.04 k
493.25 640.48 10.094 -9.727 re
f
BT
5 0 0 5 508.0137 633.6165 Tm
/Cs7 cs 0 scn
(8.5 )Tj
ET
0.79 0.18 1 0.04 k
493.25 653.207 42.156 -9.727 re
f
BT
5 0 0 5 538.9662 646.3438 Tm
/Cs7 cs 0 scn
(35.5 )Tj
ET
0.79 0.18 1 0.04 k
493.25 665.935 59.375 -9.727 re
f
BT
5 0 0 5 556.1851 659.071 Tm
/Cs7 cs 0 scn
(50.0 )Tj
ET
0.79 0.18 1 0.04 k
493.25 678.662 3.444 -9.727 re
f
BT
5 0 0 5 501.3638 671.7984 Tm
/Cs7 cs 0 scn
(2.9 )Tj
ET
0.79 0.18 1 0.04 k
493.25 691.389 0.356 -9.727 re
f
BT
5 0 0 5 498.2763 684.5256 Tm
/Cs7 cs 0 scn
(0.3 )Tj
ET
0 0 0 1 K
0.5 w
469.5 552.889 m
564.5 552.889 l
469.5 552.889 m
469.5 549.889 l
S
BT
5 0 0 5 466.585 543.8892 Tm
0 0 0 1 k
(-20)Tj
ET
481.375 552.889 m
481.375 549.889 l
S
BT
5 0 0 5 478.46 543.8892 Tm
(-10)Tj
ET
493.25 552.889 m
493.25 549.889 l
S
BT
5 0 0 5 492.14 543.8892 Tm
(0)Tj
ET
505.125 552.889 m
505.125 549.889 l
S
BT
5 0 0 5 502.905 543.8892 Tm
(10)Tj
ET
517 552.889 m
517 549.889 l
S
BT
5 0 0 5 514.78 543.8892 Tm
(20)Tj
ET
528.875 552.889 m
528.875 549.889 l
S
BT
5 0 0 5 526.655 543.8892 Tm
(30)Tj
ET
540.75 552.889 m
540.75 549.889 l
S
BT
5 0 0 5 538.53 543.8892 Tm
(40)Tj
ET
552.625 552.889 m
552.625 549.889 l
S
BT
5 0 0 5 550.405 543.8892 Tm
(50)Tj
ET
564.5 552.889 m
564.5 549.889 l
S
BT
5 0 0 5 562.28 543.8892 Tm
(60)Tj
ET
493.25 552.889 m
493.25 692.889 l
S
BT
6 0 0 6 397.5 557.7529 Tm
(Derivatives)Tj
0 2.1212 TD
(Cash)Tj
T*
(Unrealized GL on FX)Tj
T*
(NR)Tj
T*
(C)Tj
T*
(CC)Tj
T*
(CCC)Tj
T*
(B)Tj
T*
(BB)Tj
T*
(BBB)Tj
T*
(A)Tj
ET
q
212.5 521.389 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 537.889 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 526.8892 Tm
0 0 0 0 k
-0.015 Tc
(Top 10 Corporate Issuers)Tj
/F5 1 Tf
6.5 0 0 6.5 331.26 529.5892 Tm
0 Tc
(\(5\))Tj
/F2 1 Tf
8 0 0 8 217.5 512.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Security)-16503(%)]TJ
ET
q
212.5 493.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 507.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 498.8892 Tm
(EDF)Tj
ET
q
332.5 493.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 507.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 498.8892 Tm
(2.0)Tj
-18.965 -1.75 TD
[(TITIM)-16980(1.9)]TJ
ET
q
212.5 465.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 479.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 470.8892 Tm
(VMED)Tj
ET
q
332.5 465.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 479.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 470.8892 Tm
(1.6)Tj
-18.965 -1.75 TD
[(F)-18601(1.5)]TJ
ET
q
212.5 437.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 451.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 442.8892 Tm
(SFRFP)Tj
ET
q
332.5 437.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 451.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 442.8892 Tm
(1.)Tj
ET
q
0.2 i
332.5 438.389 45 11 re
W n
BT
8 0 0 8 374.148 442.8892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 217.5 428.8892 Tm
[(EOFP)-17232(1.)]TJ
ET
q
0.2 i
332.5 424.389 45 11 re
W n
BT
8 0 0 8 374.148 428.8892 Tm
0 Tc
(4)Tj
ET
Q
q
212.5 409.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 423.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 414.8892 Tm
(ZFFNGR)Tj
ET
q
332.5 409.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 423.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 414.8892 Tm
(1.)Tj
ET
q
0.2 i
332.5 410.389 45 11 re
W n
BT
8 0 0 8 374.148 414.8892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 217.5 400.8893 Tm
[(RENAUL)-16059(1.1)]TJ
ET
q
212.5 381.389 120 14 re
W n
0.132 0.08 0.028 0 k
212.5 395.389 120 -14 re
f
Q
BT
8 0 0 8 217.5 386.8892 Tm
(SABSM)Tj
ET
q
332.5 381.389 50 14 re
W n
0.132 0.08 0.028 0 k
332.5 395.389 50 -14 re
f
Q
BT
8 0 0 8 369.22 386.8892 Tm
(1.1)Tj
-18.965 -1.75 TD
[(GRFSM)-16367(1.1)]TJ
/F5 1 Tf
0 -20.8986 TD
(Please see Additional Notes. All performance and holdings data as at 31-Oct-22. Past Performance does not )Tj
0 -1.225 TD
(predict future returns. The value of investments and the income derived from investments will uctuate and can go )Tj
T*
(down as well as up. A loss of capital may occur.)Tj
/F2 1 Tf
4 0 0 4 217.5 178.8 Tm
0 Tc
(\(1\))Tj
8 0 0 8 221.052 175.8 Tm
[(Effective January 8, 2021, the portfolio name changed from Goldman Sachs Europe High Y)18(ield Bond Portfolio to )]TJ
-0.444 -1.225 TD
[(Goldman Sachs ESG-Enhanced Europe High Y)18(ield Bond Portfolio. Effective May)50(, 30th 2022, the portfolio name changed )]TJ
T*
[(from Goldman Sachs ESG-Enhanced Europe High Y)18(ield Bond Portfolio to Goldman Sachs Europe High Y)18(ield Bond )]TJ
T*
(Portfolio)Tj
4 0 0 4 243.708 149.4 Tm
( \(2\))Tj
8 0 0 8 248.148 146.4 Tm
[(The ongoing charges gure is based on expenses during the previous year)70(. See details in the Key Investor )]TJ
-3.831 -1.225 TD
(Information Document. The on-going charges are the fees the fund charges to investors to cover the day-to-day costs of )Tj
T*
[(running the funds. They are taken from the fund and impacts on the fund)90(s return. Fund charges will be incurred in )]TJ
T*
(multiple currencies, meaning that payments may increase or decrease as a result of currency exchange uctuations. All )Tj
T*
(charges will be paid out by the Fund, which will impact on the overall return of the Fund.)Tj
4 0 0 4 474.6841 110.2 Tm
( \(3\))Tj
8 0 0 8 479.1241 107.2 Tm
[(The BofA ML High Y)18(ield )]TJ
-32.703 -1.225 TD
(Constrained Index is quoted at month-end with income reinvested and, in contrast to the Portfolio, is shown without the )Tj
T*
(deduction of any expenses.)Tj
4 0 0 4 297.892 90.6 Tm
( \(4\))Tj
8 0 0 8 302.332 87.6 Tm
(Fund returns are shown net of applicable ongoing fees within the portfolio, with dividends )Tj
-10.604 -1.225 TD
[(re-invested using the ex-dividend NA)37(V)100(.)0( These returns are for comparison of performance against specied index. As the )]TJ
T*
(investor may be liable to other fees, charges and taxes, they are not meant to provide a measure of actual return to )Tj
T*
(investors. The performance data do not take account of the commissions and costs incurred on the issue and redemption )Tj
T*
(of shares.)Tj
4 0 0 4 247.708 51.4 Tm
( \(5\))Tj
8 0 0 8 252.148 48.4 Tm
(Portfolio holdings may not represent current, future investments or all of the portfolio's holdings. Future )Tj
-4.331 -1.225 TD
(portfolio holdings may not be protable. For the avoidance of doubt, when buying units in the funds you are not investing )Tj
T*
(directly in the portfolio holdings.)Tj
ET
0.746 0.676 0.668 0.898 k
0.2 i
108.925 31.419 m
105.949 38.753 l
104.863 38.753 l
104.863 30.486 l
105.831 30.486 l
105.831 36.852 l
105.913 36.544 106.185 35.812 106.244 35.67 c
108.405 30.486 l
109.433 30.486 l
111.594 35.682 l
111.653 35.812 111.925 36.544 112.019 36.852 c
112.019 30.486 l
112.976 30.486 l
112.976 38.753 l
111.889 38.753 l
h
117.452 44.417 m
117.452 45.42 116.719 45.917 115.503 46.152 c
114.523 46.341 113.944 46.637 113.944 47.192 c
113.944 47.711 114.476 47.983 115.113 47.983 c
115.799 47.983 116.377 47.629 116.66 46.885 c
117.393 47.31 l
116.991 48.208 116.306 48.739 115.102 48.739 c
114.003 48.739 113.07 48.148 113.07 47.168 c
113.07 46.152 113.944 45.633 115.066 45.432 c
116.07 45.243 116.53 44.96 116.53 44.369 c
116.53 43.767 116.023 43.365 115.255 43.365 c
114.381 43.365 113.802 43.909 113.531 44.747 c
112.739 44.251 l
113.106 43.342 113.932 42.55 115.255 42.55 c
116.684 42.55 117.452 43.448 117.452 44.417 c
108.252 49.258 m
108.335 49.448 108.429 49.719 108.476 49.884 c
108.524 49.719 108.618 49.448 108.7 49.258 c
109.965 45.999 l
106.988 45.999 l
h
106.657 45.148 m
110.295 45.148 l
111.24 42.716 l
112.291 42.716 l
108.984 50.983 l
107.968 50.983 l
104.662 42.716 l
105.713 42.716 l
h
93.693 30.57 0.476 23.298 re
135.758 31.407 m
134.612 31.407 133.844 32.222 133.844 33.544 c
133.844 34.867 134.612 35.682 135.758 35.682 c
136.903 35.682 137.682 34.867 137.682 33.544 c
137.682 32.222 136.903 31.407 135.758 31.407 c
137.612 35.505 m
137.246 36.096 136.572 36.509 135.639 36.509 c
134.175 36.509 132.899 35.422 132.899 33.544 c
132.899 31.714 134.104 30.581 135.639 30.581 c
136.572 30.581 137.21 31.005 137.612 31.655 c
137.612 30.805 l
137.612 29.387 136.974 28.703 135.781 28.703 c
134.777 28.703 134.163 29.045 134.163 29.6 c
134.163 29.765 134.198 29.895 134.246 30.025 c
133.36 30.285 l
133.265 30.108 133.206 29.895 133.206 29.648 c
133.206 28.655 134.116 27.911 135.781 27.911 c
137.564 27.911 138.568 29.009 138.568 30.876 c
138.568 36.344 l
137.612 36.344 l
h
82.882 48.767 m
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82.882 43.513 l
h
126.581 47.971 m
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124.573 46.259 l
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129.238 44.263 m
128.529 44.676 l
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130.774 33.592 l
h
131.718 34.572 m
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h
133.183 43.46 m
133.065 43.424 132.887 43.389 132.722 43.389 c
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h
156.696 34.029 m
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h
158.716 36.509 m
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h
119.082 34.572 m
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h
123.558 36.509 m
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h
142.631 36.509 m
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h
74.858 48.767 m
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h
32.369 47.929 m
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h
40.546 32.702 m
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h
42.762 36.509 m
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h
33.591 36.965 m
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h
120.7 43.365 m
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h
62.936 35.367 m
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53.384 44.046 m
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40.469 43.209 m
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50.71 40.849 l
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h
67.445 48.767 m
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h
47.729 31.179 m
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49.598 0 TD
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(Exchange rate risk)Tj
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( changes in exchange rates may reduce or increase the returns an investor might expect to receive independent of the performanc)Tj
52.266 0 TD
(e of such )Tj
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(assets. If applicable, investment techniques used to attempt to reduce the risk of currency movements \(hedging\), may not be ef)Tj
50.878 0 TD
(fective. Hedging also involves )Tj
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(additional risks associated with derivatives.)Tj
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(High yield risk)Tj
/F1 1 Tf
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( high yield instruments, meaning investments which pay a high amount of income generally involve greater credit risk and sensit)Tj
51.04 0 TD
(ivity to economic )Tj
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(developments, giving rise to greater price movement than lower yielding instruments.)Tj
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/F5 1 Tf
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(Interest rate risk)Tj
/F1 1 Tf
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( when interest rates rise, bond prices fall, reecting the ability of investors to obtain a more attractive rate of interest on)Tj
47.71 0 TD
( their money elsewhere. )Tj
-54.8511 -1.2875 TD
(Bond prices are therefore subject to movements in interest rates which may move for a number of reasons, political as well as e)Tj
51.096 0 TD
(conomic.)Tj
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/F5 1 Tf
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(Liquidity risk)Tj
/F1 1 Tf
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50.267 0 TD
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(meet redemption requests on demand.)Tj
/F6 1 Tf
6 0 0 6 27.5 519.6892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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(Market risk)Tj
/F1 1 Tf
8 0 0 8 77.6285 519.6892 Tm
( the value of assets in the Portfolio is typically dictated by a number of factors, including the condence levels of the marke)Tj
49.044 0 TD
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/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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/F1 1 Tf
8 0 0 8 93.2175 507.8892 Tm
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50.318 0 TD
(r controls.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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(Mortgage-backed securities \(MBS\) and asset-backed securities \(ABS\) risk)Tj
/F1 1 Tf
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( the mortgages backing MBS and assets backing ABS may be repaid earlier )Tj
-34.1711 -1.2875 TD
(than required, resulting in a lower return.)Tj
/F6 1 Tf
6 0 0 6 27.5 473.9892 Tm
0.53 0.32 0.11 0 k
()Tj
/F1 1 Tf
8 0 0 8 37.5 473.9892 Tm
0 0 0 1 k
(Complete information on the risks of investing in the fund are set out in the funds prospectus.)Tj
/F5 1 Tf
8.5 0 0 8.5 27.5 315.5892 Tm
0.53 0.32 0.11 0 k
(Glossary)Tj
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0.6 i
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/F6 1 Tf
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()Tj
/F5 1 Tf
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(Beta)Tj
/F1 1 Tf
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49.986 0 TD
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-51.993 -1.2875 TD
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/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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/F1 1 Tf
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48.822 0 TD
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-59.1527 -1.2875 TD
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48.765 0 TD
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-48.765 -1.2875 TD
(negative duration a rise in interest rates results in a rise in price.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 232.0892 Tm
0 0 0 1 k
(Excess returns)Tj
/F1 1 Tf
8 0 0 8 88.483 232.0892 Tm
( The return of the fund in excess of the benchmark/index return \(annualised\).)Tj
/F6 1 Tf
6 0 0 6 27.5 220.2892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 220.2892 Tm
0 0 0 1 k
(Historical tracking error)Tj
/F1 1 Tf
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( - Measure of the actual deviation of the funds returns from the comparative benchmark index returns \(annualised\). A higher nu)Tj
50.988 0 TD
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-61.4345 -1.2875 TD
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/F6 1 Tf
6 0 0 6 27.5 198.1892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 198.1892 Tm
0 0 0 1 k
(Historical Volatility of Portfolio)Tj
/F1 1 Tf
8 0 0 8 144.7105 198.1892 Tm
( Illustrates the dispersion of the funds realized monthly returns around the average monthly return, indicating how volatile)Tj
49.432 0 TD
( the )Tj
-62.8333 -1.2875 TD
(funds return is over time. The higher the number the more volatile the funds returns.)Tj
/F6 1 Tf
6 0 0 6 27.5 176.0892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 176.0892 Tm
0 0 0 1 k
(Interest Rate Duration)Tj
/F1 1 Tf
8 0 0 8 113.0565 176.0892 Tm
( This is a modied measure of Total Average Duration that has been estimated by GSAM. This modied measure seeks to take acco)Tj
53.153 0 TD
(unt of )Tj
-62.5976 -1.2875 TD
(the different behaviours of different bond markets around the world by re-expressing all duration exposures to a common US mark)Tj
51.931 0 TD
(et standard. The goal is to improve )Tj
-51.931 -1.2875 TD
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48.514 0 TD
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-48.514 -1.2875 TD
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/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 133.3892 Tm
0 0 0 1 k
(Net Asset Value)Tj
/F1 1 Tf
8 0 0 8 92.75 133.3892 Tm
( Represents the net assets of the fund \(ex-dividend\) divided by the total number of shares issued by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 121.5892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 121.5892 Tm
0 0 0 1 k
(Ongoing Charges)Tj
/F1 1 Tf
8 0 0 8 96.524 121.5892 Tm
( The ongoing charges gure is based on the funds expenses during the previous 12 months, on a rolling basis. It excludes tra)Tj
50.54 0 TD
(nsaction costs and )Tj
-57.918 -1.2875 TD
(performance fees incurred by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 99.4892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 99.4892 Tm
0 0 0 1 k
(Other Expenses)Tj
/F1 1 Tf
8 0 0 8 91.322 99.4892 Tm
( Fees deduced from the Funds assets incurred as part of the Funds operations, including, where applicable, costs incurred b)Tj
50.652 0 TD
(y the Fund when )Tj
-57.3797 -1.2875 TD
(investing in other funds.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(R)Tj
/F2 1 Tf
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(2)Tj
/F1 1 Tf
8 0 0 8 44.002 77.3892 Tm
( Measure that represents the percentage of a portfolio movement linked to movements in the benchmark index return \(annualised)Tj
52.433 0 TD
(\). The nearer to [1.00], the more )Tj
-53.2457 -1.2875 TD
(a fund is tracking the risk of the benchmark, and the less risk that the fund is taking against the benchmark.)Tj
/F6 1 Tf
6 0 0 6 27.5 55.2892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 55.2892 Tm
0 0 0 1 k
(Swing pricing)Tj
/F1 1 Tf
8 0 0 8 86.1455 55.2892 Tm
( The swing factor represents the factor in place month end and is subject to change on any Dealing Day depending on prevailin)Tj
51.433 0 TD
(g market conditions.)Tj
/F6 1 Tf
6 0 0 6 27.5 43.4892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 43.4892 Tm
0 0 0 1 k
(Yield to Maturity)Tj
/F1 1 Tf
8 0 0 8 95.113 43.4892 Tm
( The rate of return anticipated on a bond if it is held until the maturity date shown without the deduction of any expenses.)Tj
/F6 1 Tf
6 0 0 6 27.5 31.6892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Yield to Worst)Tj
/F1 1 Tf
8 0 0 8 86.613 31.6892 Tm
( The lowest potential yield that can be received on a bond without the issuer actually defaulting.)Tj
0.53 0.32 0.11 0 k
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(Additional Notes)Tj
8 0 0 8 27.5 773.8892 Tm
0 0 0 1 k
-0.0375 Tc
(This material is a nancial promotion and has been issued by Goldman Sachs International, authorised by the Prudential Regulati)Tj
46.6155 0 TD
(on Authority and regulated by the Financial Conduct )Tj
-46.6155 -1.25 TD
(Authority and the Prudential Regulation Authority.)Tj
0 -1.3125 TD
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46.5585 0 TD
(rovisions of law designed to promote the independence )Tj
-46.5585 -1.25 TD
(of nancial analysis and is not subject to a prohibition on trading following the distribution of nancial research.)Tj
0 -1.3125 TD
(This information is intended for viewing only by the intended recipient and may not be reproduced or distributed to any person )Tj
45.6695 0 TD
(in whole or in part without the prior written consent of GSI. )Tj
-45.6695 -1.25 TD
(Goldman Sachs International accepts no liability for the misuse or inappropriate distribution of this material.)Tj
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(Offering Documents)Tj
/F1 1 Tf
7.4925 0 TD
-0.0375 Tc
(: This material is provided at your request for informational purposes only and does not constitute a solicitation in any juris)Tj
43.8896 0 TD
(diction in which such a solicitation is )Tj
-51.3821 -1.25 TD
(unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not c)Tj
45.2265 0 TD
(onstitute an offer to buy shares in the fund. Prior to an )Tj
-45.2265 -1.25 TD
(investment, prospective investors should carefully read the latest Key Investor Information Document \(KIID\) as well as the offe)Tj
45.6715 0 TD
(ring documentation, including but not limited to the funds )Tj
-45.6715 -1.25 TD
(prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of association, pros)Tj
45.4995 0 TD
(pectus, supplement, KIID and latest annual/semi-annual )Tj
-45.4995 -1.25 TD
(report are available free of charge from the funds paying and information agent and/or from your nancial adviser.)Tj
/F5 1 Tf
0 -1.3125 TD
-0.0313 Tc
(Distribution of Shares)Tj
/F1 1 Tf
8.1455 0 TD
-0.0375 Tc
(: Shares of the fund may not be registered for public distribution in a number of jurisdictions \(including but not limited to a)Tj
43.5046 0 TD
(ny Latin American, African or Asian )Tj
-51.6501 -1.25 TD
(countries\). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unle)Tj
44.7255 0 TD
(ss such marketing or offering is made in compliance with )Tj
-44.7255 -1.25 TD
(applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and )Tj
46.0585 0 TD
(regulations.)Tj
/F5 1 Tf
-46.0585 -1.3125 TD
-0.0313 Tc
0.0001 Tw
(Investment Advice and Potential Loss)Tj
/F1 1 Tf
14.04 0 TD
-0.0375 Tc
0 Tw
(: Financial advisers generally suggest a diversied portfolio of investments. The fund described herein does not represent a di)Tj
45.3336 0 TD
(versied investment )Tj
-59.3736 -1.25 TD
(by itself. This material must not be construed as investment or tax advice. Prospective investors should consult their nancial)Tj
45.1675 0 TD
( and tax adviser before investing in order to determine )Tj
-45.1675 -1.25 TD
(whether an investment would be suitable for them.)Tj
/F5 1 Tf
0 -1.3125 TD
-0.0313 Tc
0.0001 Tw
(An investor should only invest if he/she has the necessary nancial resources to bear a complete loss of this investment.)Tj
T*
(Swing Pricing)Tj
/F1 1 Tf
5.3728 0 TD
-0.0375 Tc
0 Tw
(: Please note that the fund operates a swing pricing policy. Investors should be aware that from time to time this may result i)Tj
44.6696 0 TD
(n the fund performing differently compared to )Tj
ET
q
1 i
27.5 576.389 540 20.5 re
W n
BT
8 0 0 8 27.5 580.3892 Tm
0 Tc
(t)Tj
ET
Q
BT
8 0 0 8 29.424 580.3892 Tm
(he reference benchmark based solely on the effect of swing pricing rather than price developments of underlying instruments.)Tj
-0.2405 -1.3125 TD
(Fees are generally billed and payable at the end of each quarter and are based on average month-end market values during the qu)Tj
47.2805 0 TD
(arter.)Tj
-47.2805 -1.3125 TD
(Additional information is provided in our Form ADV Part-2 which is available at http://www.adviserinfo.sec.gov/IAPD/Content/Sea)Tj
46.7275 0 TD
(rch/iapd_Search.aspx.)Tj
/F5 1 Tf
-46.7275 -1.3125 TD
-0.0313 Tc
(Documents providing further detailed information about the fund, including the articles of association, prospectus, supplement )Tj
47.4163 0 TD
(and key investor information document \(KIID\), )Tj
-47.4163 -1.25 TD
0.0001 Tw
(annual/semi-annual report \(as applicable\), and a summary of your investor rights, are available free of charge in English langu)Tj
47.0793 0 TD
0 Tw
(age and, as required, in your local language by )Tj
-47.0793 -1.25 TD
(navigating to your local language landing page via https://www.gsam.com/content/gsam/ain/en/advisors/literature-and-forms/liter)Tj
48.9733 0 TD
(ature.html, and also from the funds paying and )Tj
-48.9733 -1.25 TD
0.0001 Tw
(information agents as listed below. If GSAMFSL, the management company, decides to terminate its arrangement for marketing the )Tj
49.1923 0 TD
0 Tw
(fund in any EEA country where it is registered for )Tj
-49.1923 -1.25 TD
0.0001 Tw
(sale, it will do so in accordance with the relevant UCITS rules.)Tj
0 -1.3125 TD
0 Tw
(Austria)Tj
/F1 1 Tf
2.7253 0 TD
-0.0375 Tc
(: Raiffeisen Bank International AG, Am Stadtpark 9, A-1030 Wien, Austria.)Tj
/F5 1 Tf
-2.7253 -1.3125 TD
-0.0313 Tc
(Belgium)Tj
/F1 1 Tf
3.1702 0 TD
-0.0375 Tc
(: RBC Investor Services, Place Rogier II, 1210 Brussels, Belgium.)Tj
/F5 1 Tf
-3.1702 -1.3125 TD
-0.0313 Tc
(Denmark)Tj
/F1 1 Tf
3.4473 0 TD
-0.0375 Tc
(: Stockrate Asset Management, Mollevej 9 E2, DK-2990 Niva, Denmark.)Tj
/F5 1 Tf
-3.4473 -1.3125 TD
-0.0313 Tc
(France)Tj
/F1 1 Tf
2.5895 0 TD
-0.0375 Tc
(: RBC Investor Services Bank France, 105, rue Raumur, 75002 Paris, France.)Tj
/F5 1 Tf
-2.5895 -1.3125 TD
-0.0313 Tc
(Germany)Tj
/F1 1 Tf
3.3912 0 TD
-0.0375 Tc
(: State Street Bank GmbH, Brienner Strasse 59, 80333 Munich, Germany.)Tj
/F5 1 Tf
-3.3912 -1.3125 TD
-0.0313 Tc
(Greece)Tj
/F1 1 Tf
2.7565 0 TD
-0.0375 Tc
(: Piraeus Bank S.A., 4 Amerikis Street, 10564 Athens, Greece.)Tj
/F5 1 Tf
-2.7565 -1.3125 TD
-0.0313 Tc
(Ireland)Tj
/F1 1 Tf
2.6702 0 TD
-0.0375 Tc
(: RBC Investor Services Ireland Limited, George's Quay House, 43 Townsend Street, Dublin 2, Ireland.)Tj
/F5 1 Tf
-2.6702 -1.3125 TD
-0.0313 Tc
(Italy)Tj
/F1 1 Tf
1.6217 0 TD
-0.0375 Tc
(: Socit Gnrale Securities Services, Maciachini Center MAC 2, Via Benigno Crespi, 19/A, 20159 Milan, Italy; AllFunds Bank )Tj
46.0556 0 TD
(S.A. Filiale di Milano, Via Santa Margherita 7, 20121 )Tj
-47.6773 -1.25 TD
(Milan, Italy; RBC Investor Services Bank Milan- Milan Branch, Cia Vittor Pisani, 26, 20154 Milan, Italy; State Street Bank S.pA)Tj
44.8905 0 TD
(., Via Col Moschin, 16 , 20136 Milan, Italy; BNP Paribas )Tj
-44.8905 -1.25 TD
(Securities Services Succursale di Milano, Via Ansperto 5, 20121 Milan, Italy; Banca Sella, Piazza Gaudenzio Sella 1, 13900 Bie)Tj
45.6665 0 TD
(lla Bl., Italy.)Tj
/F5 1 Tf
-45.6665 -1.3125 TD
-0.0313 Tc
(Luxembourg)Tj
/F1 1 Tf
4.6865 0 TD
-0.0375 Tc
(: State Street Bank International GmbH, Luxembourg Branch, 49, avenue J.F. Kennedy, L-1855 Luxembourg.)Tj
/F5 1 Tf
-4.6865 -1.3125 TD
-0.0313 Tc
(Poland:)Tj
/F1 1 Tf
2.8372 0 TD
-0.0375 Tc
( Bank Pekao S.A, Zwirki i Wigury str. 31, 00-844 Warszawa.)Tj
/F5 1 Tf
-2.8372 -1.3125 TD
-0.0313 Tc
(Slovenia:)Tj
/F1 1 Tf
3.4968 0 TD
-0.0375 Tc
( NOVA KBM d.d registered ofce at Ulica Vita Kraigherja 4, 2000 Maribor, Slovenia.)Tj
/F5 1 Tf
-3.4968 -1.3125 TD
-0.0313 Tc
(Sweden)Tj
/F1 1 Tf
3.1465 0 TD
-0.0375 Tc
(: Skandinaviska Enskilda Banken AB, through its entity Global Transaction Services, SEB Merchant Banking, Sergels Torg 2, ST MH)Tj
47.5566 0 TD
(1, SE-106 40 Stockholm, Sweden.)Tj
/F5 1 Tf
-50.7031 -1.3125 TD
-0.0313 Tc
(Switzerland)Tj
/F1 1 Tf
4.5462 0 TD
-0.0375 Tc
(: Swiss Representative of the fund is First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich. Paying Agent of the fu)Tj
45.2796 0 TD
(nd in Switzerland is Goldman Sachs Bank AG, )Tj
-49.8258 -1.25 TD
(Claridenstrasse 25, 8022 Zurich. The Key Investor Information Document \(KIID\) as well as the annual and semi-annual reports of )Tj
46.3355 0 TD
(the fund may be obtained free of charge at the Swiss )Tj
-46.3355 -1.25 TD
(Representative or Goldman Sachs Bank AG in Zurich.)Tj
0 -1.3125 TD
(Please note in addition for:)Tj
/F5 1 Tf
T*
-0.0313 Tc
(Australia)Tj
/F1 1 Tf
3.4408 0 TD
-0.0375 Tc
(: This material is distributed in Australia and New Zealand by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 )Tj
47.3326 0 TD
(681, AFSL 228948 \(GSAMA\) and is intended )Tj
-50.7733 -1.25 TD
(for viewing only by wholesale clients in Australia for the purposes of section 761G of the Corporations Act 2001 \(Cth\) and to c)Tj
44.8905 0 TD
(lients who either fall within any or all of the categories of )Tj
-44.8905 -1.25 TD
(investors set out in section 3\(2\) or sub-section 5\(2CC\) of the Securities Act 1978 \(NZ\).)Tj
/F5 1 Tf
0 -1.3125 TD
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0.0001 Tw
(Hong Kong)Tj
/F1 1 Tf
4.1077 0 TD
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(: This material has been issued or approved for use in or from Hong Kong by Goldman Sachs Asset Management \(Hong Kong\) Limited.)Tj
/F5 1 Tf
-4.1077 -1.3125 TD
-0.0313 Tc
(Netherlands)Tj
/F1 1 Tf
4.6562 0 TD
-0.0375 Tc
(: The fund is included in the register kept by the Stichting Autoriteit Financile Markten.)Tj
/F5 1 Tf
-4.6562 -1.3125 TD
-0.0313 Tc
(Singapore)Tj
/F1 1 Tf
3.8858 0 TD
-0.0375 Tc
(: This material has been issued or approved for use in or from Singapore by Goldman Sachs Asset Management \(Singapore\) Pte. Ltd)Tj
47.8366 0 TD
(. \(Company Number: 201329851H\).)Tj
/F5 1 Tf
-51.7223 -1.3125 TD
-0.0313 Tc
(Spain)Tj
/F1 1 Tf
2.1778 0 TD
-0.0375 Tc
(: The fund is a foreign UCITS registered with the CNMV registry with number 141 \(SICAV\), 913 \(SICAV II\), 305 \(PLC\). A full desc)Tj
45.2296 0 TD
(ription and KIID for the fund and other mandatory )Tj
-47.4073 -1.25 TD
(documentation is available free of charge from any of the authorised distributors of the fund listed in the Comisin Nacional d)Tj
45.1165 0 TD
(el Mercado de Valores \(CNMV\) webpage at )Tj
-45.1165 -1.25 TD
(www.cnmv.es.)Tj
/F5 1 Tf
0 -15.75 TD
-0.0313 Tc
(Condentiality)Tj
/F1 1 Tf
0 -1.3125 TD
-0.025 Tc
(No part of this material may, without GSAMs prior written consent, be \(i\) copied, photocopied or duplicated in any form, by an)Tj
47.036 0 TD
(y means, or \(ii\) distributed to any person that is not an )Tj
-47.036 -1.25 TD
(employee, ofcer, director, or authorized agent of the recipient.)Tj
0 -1.3125 TD
( 2022 Goldman Sachs. All rights reserved.)Tj
T*
(Registered and Principal Ofces:)Tj
/F5 1 Tf
12.309 0 TD
-0.0313 Tc
( Luxembourg domiciled Funds Registered Ofce:)Tj
/F1 1 Tf
18.1468 0 TD
-0.025 Tc
( c/o State Street Bank International GmbH, Luxembourg Branch, 49, Avenue J-F Kennedy L-1855, )Tj
-30.4558 -1.25 TD
(Luxembourg)Tj
0 -1.3125 TD
(Any reference to a national regulator is for information purposes only and should not be construed as an endorsement, or otherw)Tj
48.257 0 TD
(ise, by that regulator as to the merits on investing in )Tj
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