Legal & General Sicav - L&G Global Special Situations Credit Fund Z USD Capitalisation

The objective of the Fund is to provide long term capital growth and income. The Fund is actively managed and seeks to achieve its objective by investing at least 70% of its assets in a broad range of fixed income securities from around the world. The Fund has a particular focus on “special situations credit”, where a bond’s price and fundamental value has become dislocated in the view of the Investment Manager. The Investment Manager has broad discretion over the composition of the Fund’s portfolio, will not be tied to investing in the constituents of any index and will use its discretion with regards to selecting the issuers, sectors, credit qualities, and geographical exposure of the Fund’s holdings. The Fund uses an unconstrained investment approach and is able to hold long and short positions. Short positions within the Fund are achieved synthetically via the use of derivative instruments. The Fund cannot engage in physical short selling activities. The Fund may invest in any region of the world, including emerging markets, and in any currency. The type of fixed income securities the Fund can invest in includes, but is not limited to bonds issued by corporations and governments, provided that the above fixed income securities qualify as Transferable Securities or Money Market Instruments in accordance with the provisions of the Prospectus. The Fund may invest in debt which is considered sub-investment grade at the time of purchase, that is, debt which is rated BB+ and below or equivalent by Standard & Poor’s and Fitch and Ba1 and below by Moody’s. The Fund may also invest in unrated bonds whose creditworthiness is, in the opinion of the Investment Manager, of comparable quality of other bonds eligible for investment by the Fund. The fixed income securities which the Fund may invest in may (i) have varying interest repayment terms and reset terms; (ii) have varying maturities; (iii) have different issuers (such as sovereign, quasi sovereign, corporate, government or public bodies); and (iv) be denominated in a variety of currencies. The Fund may invest up to 20% of its assets in distressed securities; 20% of its assets in collateralised debt and loan obligations, asset-backed securities and mortgage backed securities; and 20% of its assets in contingent convertible debt securities. The Fund may also invest in PRC onshore RMB denominated fixed income securities through the Bond Connect. In addition, the Fund may also invest in units in collective investment schemes, other Transferable Securities, warrants and depository receipts.The Fund may invest subject to a maximum limit of 10% in aggregate of its net assets, in other collective investment schemes. To achieve its investment goals, for treasury purposes, and/or in case of The Fund may use derivatives (contracts which have a value linked to the price of another asset) to reduce risk or cost; or generate additional capital or income with no, or an acceptably low, level of risk; or manage the effect of currency exchange rates. Other information: Your shares will be accumulation shares. Income from the Fund’s investments will be reinvested back into the value of your shares. The Fund is actively managed as the Manager uses their expertise to select investments to achieve the Fund’s objectives. This Fund is designed for investors looking for income or growth from an investment in fixed income securities. Although investors can take their money out at any time, this Fund may not be appropriate for those who plan to withdraw their money within five years. This Fund is not designed for investors who cannot afford more than a minimal loss of their investment. If you do not understand this document we recommend you seek additional information to help you decide if this Fund is right for you. Shares can be bought, sold or switched on any business day. Orders received by 2.00pm (CET) will be processed as at the valuation point on the same business day. Orders received after 2.00pm (CET) will be processed as at valuation point on the next business day. The Fund's base currency is denominated in US dollar (USD) This Share Class uses currency hedging to seek to protect your investment against exchange rate movements between the share class currency and the Fund’s base currency. unfavourable markets conditions the Fund may hold, on an ancillary basis, permitted deposits, Money Market Instruments and other cash-equivalent instruments. While the Fund will not make direct investment in equity and equity-related securities, the Fund may hold such securities issued as a result of any reorganisation, conversion, exchange, or similar corporate action in relation to the instruments in which the Fund has invested pursuant to its investment objective and policy. The depositary of the Fund is Northern Trust Global Services SE. Further information about the Fund and the share class can be obtained from the Fund’s prospectus and the annual and semi-annual reports, which are available, in addition to the latest prices for the unit class and details of any other unit classes, free of charge at: www.lgim.com.