The Euro Low Duration Fund is an actively managed,
diversified portfolio of primarily short-duration, investment
grade bonds. The fund must invest at least two thirds of its
assets in euro-denominated fixed income instruments. The
average duration of the fund will normally vary within +/-2
years of the benchmark, and may allocate up to 10% to
high yield instruments and up to 20% to emerging markets.
The fund is actively managed to maximize total return while
maintaining risk consistent with the benchmark, and is
suitable as a core euro-denominated bond allocation, but
with reduced sensitivity to changes in interest rates.