Allianz Fixed Income Macro W GBP Acc 

The Fund aims to generate capital growth by outperforming the Target Benchmark, the SONIA (in GBP) by producing positive absolute returns above SONIA (in GBP) (net of fees) over a rolling twelve month period irrespective of market conditions by investing predominantly in derivatives of fixed income instruments and fixed income securities. The ACD will adopt a policy of active management and will invest up to 100% of the Fund’s assets into fixed income securities indirectly through the use of derivative instruments in order to implement the strategies within the Fund. These will include but not be limited to futures, options, options on swaps and swap agreements (e.g. interest rate swaps, index swaps and inflation linked swaps) and currency forward contracts.