Sustainability Related Disclosures

Environmental or social characteristics of the fund

The Fund aims to provide a higher total return (capital growth plus income) than that of the corporate bond market in emerging markets over any three-year period while applying ESG Criteria and Sustainability Criteria.

How the fund meets its environmental and social characteristics

The Fund applies ESG Integration. ESG integration is the systematic inclusion of ESG factors in investment analysis and investment decisions.

The Fund invests in securities that meet the ESG Criteria and Sustainability Criteria.

The following types of exclusions apply to the Fund’s direct investments:

• Norms-based exclusions: investments that are assessed to be in breach of commonly accepted standards of behaviour related to human rights, labour rights, environment and anti-corruption.
• Sector-based and/or values-based exclusions: investments and/or sectors exposed to business activities that are assessed to be damaging to human health, societal wellbeing, the environment, or otherwise assessed to be misaligned with the Fund’s sector-based and/or values-based criteria.
• Other exclusions: investments assessed to be otherwise in conflict with the ESG Criteria and Sustainability Criteria.

References to “assessed” above mean assessment in accordance with the ESG Criteria and Sustainability Criteria.

The benchmark of the Fund is the JPM CEMBI Broad Diversified Index. It is a comparator against which the Fund’s performance can be measured.

The benchmark is not an ESG benchmark and is not consistent with the ESG Criteria and Sustainability Criteria.

Additional information

Further information on the ESG methodology, including data sources, screening criteria and the relevant sustainability indicators of the Fund can be found in the ESG Criteria and Sustainability Criteria.

A description of ESG and responsible investment terms used is available in the fund’s Prospectus.