Price fluctuations of investments due to market changes are possible

Use of Derivatives may entail additional risks (e.g. Counterparty risk)

Limited participation in the potential of single securities

This investment style may lead to more heavily concentrated positions in individual companies or sectors

Investments in alternative assets may suffer a total loss

If an over the counter (OTC) swap counterparty defaults, losses might be realised up to the positive swap value accrued to the Sub-Fund since the last swap reset

The structure of ABS/MBS and the pools backing them might be intransparent which exposes the subfund to additional credit and prepayment risks (extension or contraction risks) depending on which tranche of ABS/MBS is purchased by the subfund

Money market investments are associated with risks of a money market, such as interest rate fluctuations, inflation risk and economic instability

There is no guarantee that all sustainability criteria will always be met for every investment. Negative impact on subfund's performance possible due to pursuing sustainable economic activity rather than a conventional investment policy

Commodity investments might be subject to considerable volatility and exposed to sudden fluctuations over a long period. Various commodity markets may also be suject to direct government intervention that might cause extreme price volatility of commodity investments