Anlageziel AZ Fund 1 European Dynamic A-AZ Fund Acc Fonds

With a view to enhancing the value of its assets in the medium/long term, the Sub-fund shall pursue the aim of a portfolio structure balanced between equity and bond/money market instruments, all mainly denominated in Euros. The equity component shall not exceed 70% of the net assets of the Sub-fund. No more than 40% of the Sub-fund’s net assets may be invested in financial instruments denominated in currencies other than the Euro. In respect of such securities, the Company usually hedges exchange rate risks.