Anlageschwerpunkt NEF Ethical Short Term Bond - R EUR ACC

The objective of the Sub-Fund is to achieve a short term performance through investing mainly in transferable securities denominated in EUR with a good Environmental, Social and Governance criteria ('ESG') profile, 'green bonds' and 'social bond', based on the investment manager's in-house research and/or third party ESG ratings. The Sub- Fund promotes, amongst others, some ESG characteristics in compliance with Article 8 of SFDR but does not have sustainable investment as its objective. An exclusion list will further be followed by the investment manager. The Sub-Fund is actively managed in reference to the benchmark ICE BofAML 1-3 Year Euro Large Cap Index (EUR unhedged) (the 'Benchmark'). For the construction of the portfolio, the Benchmark serves as reference in terms of overall exposure to risk factors including country, interest rate and credit position. Amplitude of deviations from the Benchmark varies depending on the degree of conviction of the investment manager. Q Bonds have an average maturity of maximum three years or an interest rate adjusted at least annually based on the market conditions. Q Financial techniques and instruments for hedging and/or non-hedging purposes may be used.