Schroder Global Investment Grade Corporate Bond Active UCITS ETF Accumulation USD

The fund aims to provide income and capital growth in excess of the Bloomberg Global Aggregate Corporate Index (Hedged to USD) after fees have been deducted over a three-to-five-year period by investing in fixed and floating rate securities issued by companies worldwide. There can be no assurance that the fund will achieve its investment objective. Investment Policy The fund is actively managed and invests at least two-thirds of its assets in fixed and floating rate securities denominated in various currencies and issued by governments, government agencies, supra-nationals and companies worldwide. The fund's exposure to emerging markets will not exceed 20% of net assets. The fund invests in the full credit spectrum of fixed income investments. The fund may invest: 1. up to 10% of its assets in securities that have a below investment grade credit rating (as measured by Standard & Poor's or any equivalent grade of other credit rating agencies for rated bonds and implied Schroders ratings for non-rated bonds); 2. up to 10% of its assets in contingent convertible bonds; 3. up to 10% of its assets in asset-backed securities. The types of fixed and floating rate securities and other assets in which the fund may invest include those set out below and, with the exception of permitted investments in unlisted securities, will generally be traded or listed on a Regulated Market listed in Schedule 1 of the prospectus. The fund may invest in the following types of securities: Covered bonds: being debt securities issued by governments, agencies, authorities, instrumentalities or by private issuers or credit institution and backed by a separate pool of assets (comprising commercial and residential mortgages) that, in the case of failure by the issuer, can cover claims at any point in time; Asset-backed securities: which are issued or guaranteed by governments, agencies, authorities, instrumentalities or by private issuers or credit institutions (such as, asset-backed securities related to automobile loans). The asset-backed securities in which the fund may invest do not include collateralised obligations; Government and high quality corporate bonds: being debt securities issued by governments, agencies, authorities, instrumentalities or by private corporate issuers or credit institutions; Government and other public securities: being debt securities issued or guaranteed by a government, or other public bodies, their agencies, authorities or instrumentalities (e.g. bonds, debentures and notes which may be secured or unsecured, such as treasury notes and promissory notes). In the case of unsecured notes, these will be issued by the UK government or government agencies or non-UK government agencies such as the European Investment Bank or International Bank for Reconstruction & Development. Such securities may be supported either by the full faith and credit of the government or public body, the right of the issuer to borrow from the government or public body, the discretionary authority of the government or public body to purchase the obligations or only the credit of the issuer; Certain debenture stock and fixed and floating rate bonds: being a form of registered participation in debt that is not subordinated and is issued by a credit institution. The fund may also invest up to one-third of its net assets directly or indirectly in the following types of securities: equity securities denominated in various currencies and issued by companies worldwide, Eligible Collective Investment Schemes, and money market investments. The fund will invest in Eligible Collective Investment Schemes to gain access to securities which it is not possible or efficient to invest in directly and/or for cash management purposes. The fund may invest in money market instruments for cash management purposes and may hold cash for this purpose. The money market instruments in which the fund may invest are: Cash and cash equivalents: these include certificates of deposit, commercial paper, floating rate notes and short-dated government bonds. Certain deposits with an Approved Bank: being monies placed with an Approved Bank for safekeeping; and Bills of exchange: being short term negotiable financial instruments which are accepted by a credit institution. The fund may use the following derivatives with the aim of reducing risk or managing the fund more efficiently: FX forwards, futures and credit default swaps. The financial derivative instruments used by the fund may be traded on an exchange or over the counter. A list of the Regulated Markets on which financial derivative instruments may be quoted or traded is set out in Schedule 1 of the prospectus. Benchmark The fund's performance should be assessed against its target benchmark being to exceed the Bloomberg Global Aggregate Corporate Index (Hedged to USD). The benchmark is a flagship measure of global investment grade, fixed-rate corporate debt. It is a multi-currency benchmark that includes bonds from developed and emerging markets issuers within the industrial, utility and financial sectors. Further information can be found at www.bloomberg.com. The fund is actively managed. The benchmark is used as the fund's investment universe to which the investment strategy is applied and is also used for performance comparison purposes. The performance of this share class is compared against the performance of the equivalent unhedged currency share class. Dealing Frequency You may redeem your investment daily by selling your shares through a broker on a stock exchange where the shares are traded. In normal circumstances, only Authorised Participants (certain financial institutions) may subscribe or redeem shares directly with the fund. Distribution Policy This share class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the share class.