So investiert der Lombard Odier Funds III - High Yield Convertible Bond (EUR) PA Fonds: The Sub-Fund is actively managed. The Sub-Fund is not managed in reference to an index. This Sub-Fund aims to benefit from the recovery of credit and/or equity markets worldwide using convertible bonds and associated instruments usually rated below investment grade. The Sub-Fund is invested, at least two-thirds (2/3rds) of its assets, in bonds convertible into equities and in associated instruments such as warrants and convertible preference shares, denominated in various currencies. Up to one-third (1/3rd) of the Sub-Fund's assets may be invested in other transferable securities and/or in Cash and Cash Equivalents (including short-term ABS/MBS which may represent up to 10% of investments in Cash and Cash Equivalents).