Mora Funds SICAV - Global Bond Fund B USDH Cap

Objectives and Investment Policy Investment Objective The Fund seeks to generate positive returns by investing across the full maturity and credit spectrum of fixed income securities in developed and emerging markets and within the investment grade and high yield debt markets. The Sub-Fund is authorized for distribution in Luxembourg and Spain. Investment Policy The Sub-Fund is actively managed in accordance with the investment restrictions and the following generic investment policy in aiming to achieve its investment objective. The Sub-Fund mainly (at least 80 %) invests in fixed income securities which are denominated predominantly in euros (may also invest in securities denominated in other currencies) and issued by governments, agencies and companies worldwide. The investment process begins with an assessment of macroeconomic factors in order to identify the key medium and long term trends. This is followed by analysis of the fundamentals of the issuers (performance, leverage, relative valuation and so on). The Sub-Fund may hold up to a maximum of 20% in cash and cash equivalents. The Sub-Fund focuses on active duration management, yield curve strategies, sector rotation, security selection and relative value strategies. The overall quality of the portfolio shall have an average rating of at least BBB- according to Standard & Poors rating definitions or a comparable rating from Moody's Investor Service, Inc. or Fitch Ratings, Inc. Individual bonds may have a rating below BBB. Securities with a rating lower than B- are not included in the portfolio at the time of investment. In the case of a split rating, the worst rating result of the three rating agencies Standard & Poors, Moody's Investor Service, Inc. and Fitch Ratings, Inc. is generally decisive. Insofar as one of the three rating agencies announces an updated rating, this most recent rating result can be used as a basis if an in-depth analysis of the new rating confirms a risk-bearing capacity of the most recent rating. The average rating of the portfolio is investment grade minimum (BBB-). However, the Sub-Fund can invest in high yield bonds. In case bonds downgrades move the average portfolio rating close to non-investment grade the Sub-Fund will immediately sell positions in order to keep the average rating of the portfolio within the investment grade bucket. The Sub-Fund will not invest either in distressed or defaulted securities but in case any of the bonds in the portfolio moves into distressed or defaults, the Investment Manager will monitor the position and sell them when the Investment Manager consider it is a good moment. In any case, distressed and defaulted securities will never exceed (8%) of the portfolio total assets, the 8% taking into account the limit "after downgrade". Should the percentage getting close to (8%) positions will be sold immediately to reduce exposure. The Sub-Fund may invest maximal 10% of the Sub-Fund’s net assets in Contingent Convertible Bonds (CoCo Bonds). Additionally and always within the limits established by applicable law, the Sub-Fund might invest in financial derivative instruments as well as other techniques and instruments for hedging purposes and to achieve its investment objective. Especially, the use of financial derivative instruments (e.g. futures, options and swaps) as well as the use of other techniques and instruments is subject to the statutory provisions and restrictions according to statutory of the Sub-Fund. The Sub-Fund will pay a performance fee of 15% of the excess performance above the reference benchmark. The fee is paid in favour of the Investment Manager. The reference benchmark for all the classes denominated in USD is the Bloomberg Barclays Global Aggregate 3-5 Year Total Return Index Value Hedged USD (H03451US Index). The Index is being provided by the index provider and administrator (as defined in the Benchmark Regulation) of the relevant benchmark (the “Benchmark Administrator”). The Benchmark Administrator was listed in the register referred to in article 36 of the Benchmark Regulation as administrator authorized pursuant to article 34 of the Benchmarks Regulation. Further information on the Index, including index methodology and composition, can be found at https://www.bloomberg.com/professional/product/indices/benchmark-regulation-resources/ A performance fee could also be payable in case the Fund has over- performed the reference benchmark but had a negative performance. The Crystallization Frequency is annually, the crystallization takes place at each financial year end of the Fund. The performance reference period is equal to the lifetime of the Fund (unlimited duration). Therefore, performance fee will not be paid until previous relative losses have been fully recovered. If there is an outperformance of the reference benchmark, the performance fee is calculated and accrued in the NAV on every valuation day. In case the excess performance of the benchmark decreases, the accruals are decreased too. If there is an underperformance of the reference benchmark, the accruals will be zero again. The crystallization of accrued fee for redemptions and a correction amount in case of subscriptions avoid artificial decreases and increases of the performance fee due to client orders. The calculation of the performance fee will be done at share class level and not on a single investor basis. In case of closure and merger of share classes of this Sub-Fund or closure and merger of Sub-Funds or investors’ redemptions the performance fee will be crystallise in due proportions on the date of the closure/merger and/or investors’ redemption. In case of merger of Sub-Funds, the crystallization of the performance fees of the merging Fund will be made in the best interest of investors of both the merging and the receiving Fund, which means no double performance-related remuneration. The currency of the share class is expressed in EUR. The Sub-Fund does not distribute dividends; it reinvests its income. More detailed information can be found in the prospectus. Investors can redeem their shares on each day on which banks and financial institutions in Luxembourg are generally open for business except for 24 and 31 December of each year. The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities