SVS Saltus Fixed Income Fund Y Income Shares 

The investment objective of the Sub-fund is to achieve income and capital growth over the medium term (rolling 3 year periods). The investment policy of the Sub-fund is to invest at least 80% of its assets in other collective investment schemes (including open-ended investment schemes and closed-ended investment schemes), in order to obtain exposure to a broad range of global fixed income assets. The Sub-fund is actively managed and has a flexible allocation to the fixed income assets to which it gains exposure. These may include investment grade, non-investment grade or high yield bonds from multiple sectors including developed and emerging markets, and currency. The bonds may be issued by companies or other entities including supranationals, sovereigns and governments.